[User] What is the company's policy regarding the return of ME&T free cash flow to shareholders?

[Assistant] The company's policy is to return substantially all ME&T free cash flow to shareholders over time in the form of dividends and share repurchases, while maintaining a mid-A rating.


[User] What events trigger the company to perform an interim goodwill impairment test?

[Assistant] If the company's fair value falls below its carrying value, it triggers the company to perform an interim goodwill impairment test.


[User] How is product warranty liability estimated by the company?

[Assistant] The company estimates product warranty liability by applying historical claim rate experience to the current field population and dealer inventory.


[User] What factors influence the postretirement benefit plan actuarial assumptions?

[Assistant] The actuarial assumptions for postretirement benefit plans are influenced by market conditions, company policies, historical data, and demographic assumptions.


[User] How are the company's postretirement benefit plan actuarial gains or losses recognized?

[Assistant] The company recognizes actuarial gains or losses immediately through earnings using a mark-to-market approach upon annual remeasurement in the fourth quarter or on an interim basis as triggering events warrant remeasurement.


[User] How does the company determine its reserves for product liability and insurance losses?

[Assistant] The company determines its reserves for product liability and insurance losses based on reported claims in process of settlement and actuarial estimates for losses incurred but not reported.


[User] What is the impact of a 10 percent weakening of the U.S. dollar on the 2024 expected cash flow for ME&T operations?

[Assistant] Approximately $200 million


[User] What do Financial Statements and Supplementary Data include in a financial report?

[Assistant] An index.


[User] What are financial statements and supplementary data components referred to collectively as in a typical categorization?

[Assistant] Item 8


[User] What kind of financial documentation includes an Item 8?

[Assistant] Financial documentation that outlines detailed financial data includes an Item 8.


[User] What measures has Bank of America taken to streamline its organizational structure?

[Assistant] Bank of America Corporation has reduced and intends to continue to reduce the number of its corporate subsidiaries, including through intercompany mergers, as part of its efforts to streamline the Corporation’s organizational structure and reduce complexity and costs.


[User] What are the key competitive factors for Bank of America?

[Assistant] Bank of America competes based on customer service and convenience, the pricing, quality and range of products and services offered, lending limits, the quality and delivery of technology, and its reputation, experience and relationships in relevant markets.


[User] How many hours of training and development did Bank of America provide to its employees in 2023?

[Assistant] 6.7 million hours


[User] What was the U.S. minimum hourly wage for Bank of America employees increased to in October 2023?

[Assistant] $23 per hour


[User] What percentage of global female employees at Bank of America were compensated compared to their male counterparts in comparable positions?

[Assistant] greater than 99 percent


[User] What are the U.S. insurance coverage limits under the FDIC as per the Financial Reform Act?

[Assistant] Under the Financial Reform Act, the U.S. insurance coverage limits under the FDIC are $250,000 per depositor, per insured bank for each account ownership category.


[User] What new deposit insurance assessments did the FDIC adopt in October 2022?

[Assistant] In October 2022, the FDIC adopted new deposit insurance assessments across the industry of two basis points (bps).


[User] What can Membership Rewards points be redeemed for?

[Assistant] Membership Rewards points can be redeemed for a variety of rewards, including travel, shopping, gift cards, and covering eligible charges.


[User] What does the term 'net write-off rate – principal only' refer to?

[Assistant] The 'net write-off rate – principal only' refers to the percentage of proprietary consumer or small business Card Member loans or receivables that are written off, consisting of the principal from authorized transactions, minus any recoveries, relative to the average loan or receivable balance during the period.


[User] How is asset securitization conducted as per the provided description?

[Assistant] Asset securitization involves transferring and selling loans or receivables to a special-purpose entity, typically a trust, which issues securities secured by the transferred loans or receivables. The trust uses the proceeds from the securities sale to pay for the transferred loans or receivables.


[User] What does T&E spend represent in a corporate financial context?

[Assistant] T&E spend represents expenditures on travel and entertainment, which primarily includes costs related to airline tickets, cruise bookings, lodging accommodations, and dining.


[User] What are forward-looking statements in financial reports?

[Assistant] Forward-looking statements in financial reports refer to predictions or forecasts about future events that are based on current expectations. They include statements about anticipated business and financial performance or other future conditions and often contain phrases like 'expect,' 'anticipate,' and 'plan.'


[User] What factors could affect the accuracy of forward-looking statements in financial disclosures?

[Assistant] The accuracy of forward-looking statements in financial disclosures can be affected by unforeseen economic conditions, changes in laws or regulations, geopolitical situations, or significant changes in business strategies or operations.


[User] What factors influence American Express's decision to reinvest gains into its business?

[Assistant] American Express's decision to reinvest gains into its business is influenced by factors such as regulatory and other approvals, consultation requirements, the execution of ancillary agreements, the cost and availability of financing for the purchaser, the potential loss of key customers, vendors, and business partners, and management’s decisions regarding future operations, strategies, and business initiatives.


[User] How does competition in the payments industry affect American Express?

[Assistant] Competition in the payments industry impacts American Express by potentially lowering the prices charged to merchants who accept American Express cards, affecting the desirability of its premium card products, and competition for new and existing cobrand relationships. It also influences the competition with respect to new products, services, technologies, competition from new and non-trascal competitors, and the success of marketing, promotion, and rewards programs.


[User] What factors impact American Express's ability to grow internationally?

[Assistant] American Express's ability to grow internationally can be impacted by regulation and business practices that favor local competitors, the ability to tailor products to local markets, and the success of network partners in acquiring card members and merchants. Political or economic instability, regional conflicts, and local experience and relationships also play significant roles.


[User] What role do specialized professionals play in the audit of credit losses on Card Member loans?

[Assistant] Specialized professionals assist in evaluating the appropriateness of management’s methodology and the reasonableness of significant assumptions used in estimating credit losses on Card Member loans.


[User] How is inventory valued for financial reporting?

[Assistant] Inventory is valued at standard cost adjusted to the lower of actual cost or estimated net realizable value based on future demand and market conditions.


[User] How are long-lived and intangible assets evaluated for impairment?

[Assistant] These assets are reviewed for impairment if potential impairment indicators exist, and the assessment involves estimating future undiscounted cash flows attributable to the asset groups.


[User] How is revenue recognized when dealing with variable consideration under revenue contracts?

[Assistant] Revenue recognition for variable consideration involves estimating the likely amount to be received after adjustments like rights of return and rebates, based on historical data and current conditions.


[User] What was the net revenue for the Data Center segment in 2023?

[Assistant] $6.5 billion


[User] What factors contributed to the operating income decrease in the Data Center segment in 2023?

[Assistant] The decrease in Data Center operating income in 2023 was primarily due to product mix and higher research and development investment.


[User] What was the percentage decrease in Client segment net revenue in 2023 compared to 2022?

[Assistant] 25%


[User] What caused the decline in Client segment operating income in 2023?

[Assistant] The decline in Client segment operating income in 2023 was primarily due to lower revenue.


[User] What led to the increase in Embedded segment net revenue in 2023?

[Assistant] The increase in Embedded segment net revenue in 2023 was primarily driven by the inclusion of embedded product revenue from Xilinx, Inc. for the full twelve months period.


[User] What was the total amortization of acquisition-related intangibles in 2023?

[Assistant] $2.8 billion


[User] How much cash was used in investing activities in 2023?

[Assistant] $1,423 million


[User] What architecture is the AMD Radeon RX 7000 series built on and what does it provide?

[Assistant] AMD RDNA3 architecture, it provides process optimizations plus firmware and software enhancements


[User] What does FSR 3.0 technology use to boost frame rates in supported games?

[Assistant] Temporal data and optimized anti-aliasing


[User] What are AMD Radeon PRO graphics cards designed to optimize and for what use cases?

[Assistant] Design workloads for use cases such as 3D rendering, design and manufacturing for CAD, and media and entertainment for broadcast and animation pipelines on high resolution displays.


[User] What brands are used for System-on-Module (SOM) and compute and network acceleration board products?

[Assistant] System-on-Module (SOM) products are branded as Kria, and compute and network acceleration board products are sold under the Alveo and Pensando brands.


[User] What types of marketing programs does the company employ?

[Assistant] The company employs direct marketing, co-marketing programs, cooperative advertising, marketing programs with customers and third parties, and market development programs.


[User] How can customers use market development funds under the co-marketing development programs?

[Assistant] Customers can use market development funds as reimbursement for advertisements and marketing programs related to our products and third-party systems integrating our products, subject to meeting defined criteria.


[User] What constitutes the core business of the company's Data Center Segment customers?

[Assistant] The Data Center Segment customers mainly consist of hyperscale data centers, original equipment manufacturers (OEMs), original design manufacturers (ODMs), system integrators, and independent distributors in both domestic and international markets.


[User] Who are the primary customers of the company's Client Segment products?

[Assistant] The primary customers for the Client Segment products are PC OEMs, a network of independent distributors, and for chipset products, ODMs that manufacture motherboards.


[User] Which sectors are the primary targets for the company's Embedded Segment products?

[Assistant] The Embedded Segment products are targeted at markets such as Aerospace and Defense, Test and Measurement, Industrial, Automotive, Consumers, Broadcast, Communication Infrastructure, and Data Center.


[User] What proportion of the company's consolidated net revenue for the year ended December 30, 2023, was accounted for by one customer, and which segment did this involve?

[Assistant] One customer accounted for 18% of the consolidated net revenue for the year ended December 30, 2023, and this involved sales of products from the Gaming segment.


[User] What are the main contributors to the revenue of Xbox?

[Assistant] Xbox revenue is mainly derived from subscriptions and sales of first- and third-party content, in addition to advertising.


[User] What is the primary purpose of the group 'Cloud and AI' in the company's internal development structure?

[Assistant] The primary purpose of the 'Cloud and AI' group is to enhance the productivity and efficiency of IT professionals, developers, partners, independent software vendors, and their systems by developing the Azure AI platform and cloud infrastructure, server, database, CRM, ERP, software development tools and services including GitHub, AI cognitive services, and other business process applications and services for enterprises.


[User] What are the main responsibilities of the 'Microsoft Security' group within the company?

[Assistant] The 'Microsoft Security' group is responsible for delivering a comprehensive portfolio of services that protect customers' digital infrastructure. This includes cloud platform and application security, data protection and governance, identity and network access, and device management.


[User] How does the 'Gaming' group contribute to the company's strategy?

[Assistant] The 'Gaming' group contributes to the company's strategy by developing hardware, content, and services across various platforms to help grow the user base through game experiences and social interaction.


[User] What role does the 'Technology and Research' group play in the company's innovation efforts?

[Assistant] The 'Technology and Research' group plays a role in the company's innovation efforts by focusing on fundamental research, product and business incubations, and forward-looking AI innovations that span infrastructure, services, and applications.


[User] What distinctive features does the Microsoft Experience Centers offer?

[Assistant] Microsoft Experience Centers are designed to facilitate deeper engagement with partners and customers across various industries.


[User] How does the company protect its intellectual property?

[Assistant] The company protects its intellectual property by working actively in the U.S. and internationally to enforce copyright, trademark, trade secret, and other protections that apply to its software and hardware products, services, business plans, and branding. It also pursues patents actively, holding a portfolio of over 70,000 U.S. and international patents issued and over 19,000 pending worldwide.


[User] What are the primary distribution methods for the company's products and services?

[Assistant] The company's products and services are primarily distributed through OEMs, direct sales, and distributors and resellers.


[User] What are the benefits included in the Software Assurance (SA)?

[Assistant] Software Assurance (SA) includes rights to new software and upgrades for perpetual licenses released over the contract period, along with support, tools, training, and other licensing benefits to help customers deploy and use software efficiently.


[User] What is the purpose of the Microsoft Customer Agreement?

[Assistant] The Microsoft Customer Agreement is designed to support all customers over time, whether they purchase through a partner or directly from Microsoft, and is a non-expiring agreement.


[User] What is the significance of the Company’s trademarks to their businesses?

[Assistant] The trademarks are considered to be of material importance in the operation of the Company's businesses.


[User] Are there any significant seasonal trends observed in the Company's worldwide sales?

[Assistant] No, worldwide sales do not reflect any significant degree of seasonality.


[User] What regulatory body primarily regulates product safety, efficacy, and other aspects in the U.S.?

[Assistant] The U.S. Food and Drug Administration (U.S. FDA)


[User] What medications were included in the CMS's first Selected Drug list?

[Assistant] XARELTO, STELARA, and IMBRUVICA were included in the CMS's first Selected Drug list.


[User] What does the IRA specify about the pricing of selected drugs for the Medicare population?

[Assistant] The IRA specifies a ceiling price for the selected drugs for the Medicare population but does not specify a minimum price.


[User] When do the IRA provisions that impose rebates for price increases above inflation rates begin to apply for Medicare Part D and Part B drugs?

[Assistant] The provisions begin to apply on October 1, 2022, for Medicare Part D drugs and on January 1, 2023, for Medicare Part B drugs.


[User] What changes does the IRA make to the Medicare Part D benefit plan?

[Assistant] The IRA redesigns the Medicare Part D benefit by shifting a greater portion of costs to manufacturers within certain coverage phases and replacing the Part D coverage gap discount program with a new manufacturer discounting program.


[User] What legal action did Janssen Pharmaceuticals, Inc. take regarding the Inflation Reduction Act?

[Assistant] Janssen filed litigation against the U.S. Department of Health and Human Services and the Centers for Medicare and Medicaid Services, challenging the constitutionality of the IRA's Medicare Drug Price Negotiation Program.


[User] What are the potential penalties for failing to comply with IRA provisions?

[Assistant] Manufacturers may be subject to various penalties, including civil monetary penalties, for non-compliance with IRA provisions.


[User] What are the core pillars of the Company's Diversity, Equity, and Inclusion (DEI) Strategy?

[Assistant] The core pillars are building a diverse workforce, fostering a culture of inclusion, transforming talent and business processes for equitable opportunities, and driving innovation and growth to serve diverse markets.


[User] What criteria did the independent audit use to assess the effectiveness of internal control over financial reporting at the company?

[Assistant] The independent audit assessed the effectiveness of internal control over financial reporting based on criteria established in the Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework). This framework guides the audit in evaluating whether the company has maintained effective controls over its financial reporting processes.


[User] What methods does the company use to estimate the costs of product liability, property, and vehicle insurance risks?

[Assistant] The company uses methods involving analyses of historical trends and actuarial methods to estimate the costs of product liability, property, and vehicle insurance risks.


[User] What were the main factors considered in the audit process to evaluate the self-insurance reserve?

[Assistant] The main factors considered in the audit process included severity, duration and frequency of claims, projected inflation of related factors, and the risk-free rate.


[User] What was the total value of current liabilities for the company as of August 27, 2022?

[Assistant] $8,588,393


[User] How much income taxes were paid in the most recent period mentioned?

[Assistant] $570,250


[User] What was the net increase in cash and cash equivalents over the period?

[Assistant] $12,674


[User] How many AutoZone stores are there in the U.S., Mexico, and Brazil as of the end of fiscal 2023?

[Assistant] At the end of fiscal 2023, AutoZone operated 6,300 stores in the U.S., 740 stores in Mexico, and 100 stores in Brazil.


[User] What activities does AutoZone use derivative instruments for?

[Assistant] AutoZone uses various derivative instruments to reduce market risks associated with changes in interest rates, foreign exchange rates, and fuel prices.


[User] How does AutoZone manage its foreign operations in terms of currency?

[Assistant] AutoZone accounts for its foreign operations using the local market currency and converts its financial statements from these currencies to U.S. dollars.


[User] What are the payment terms for commercial customers in the company?

[Assistant] The payment terms for commercial customers range from 1 to 30 days.


[User] What primarily drove the increase in total expenses as detailed in the text?

[Assistant] The increase in total expenses was primarily driven by higher Card Member rewards expense and Card Member services expense.


[User] What factors contributed to the increase in credit losses mentioned in the text?

[Assistant] The increase in credit losses was primarily due to higher net write-offs, although this was partially offset by a reserve release in the current year compared to a reserve build in the prior year.


[User] What factors primarily contributed to the increase in non-interest revenues across all revenue categories?

[Assistant] The increase in non-interest revenues was primarily driven by higher Discount revenue and Service fees and other revenues.


[User] What caused the pretax loss in the Corporate & Other segment to increase in 2023 compared to 2022?

[Assistant] The increase in pretax loss for 2023 compared to 2022 was mainly due to changes in the value of deferred compensation, higher current and incentive compensation costs, and a contribution to the American Express Foundation, partially offset by lower net losses on Amex Ventures investments.


[User] What are the goals of American Express’s balance sheet management strategy?

[Assistant] American Express's balance sheet management objectives include maintaining a solid and flexible equity capital profile, a broad, deep and diverse set of funding sources, and liquidity programs that enable continuous meeting of future financing obligations and business requirements under adverse circumstances.


[User] What adjustments to the regular quarterly dividend on common shares did the company announce for the first quarter of 2024?

[Assistant] The company announced a 17 percent increase in the regular quarterly dividend on common shares, from 60 cents to 70 cents per share, beginning with the first quarter of 2024.


[User] How does the company plan to conduct its share repurchases?

[Assistant] The company may conduct share repurchases through various methods including open market purchases, plans meeting the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act, privately negotiated transactions, block trades, accelerated share repurchase programs, or a combination of such methods depending on market conditions and deemed appropriate prices.


[User] What was the primary reason for the increase in interest rates paid on retail deposits?

[Assistant] The primary reason for the increase in interest rates paid on retail deposits was the impact of higher market interest rates offered for these deposits.


[User] What was the average balance and interest expense for savings and transaction accounts in the year 2023?

[Assistant] In 2023, the average balance for savings and transaction accounts was $86,102 and the interest expense was $3,357.


[User] How much long-term debt did the company have outstanding as of December 31, 2023?

[Assistant] As of December 31, 2023, the company had $47.9 billion in long-term debt outstanding.


[User] By how much would a hypothetical 100 basis point rise in interest rates affect the 2024 pre-tax earnings of ME&T operations?

[Assistant] Have a minimal impact


[User] What is the main objective in managing foreign currency risk for ME&T operations?

[Assistant] To minimize the risk of exchange rate movements that would reduce the U.S. dollar value of the company's foreign currency cash flow


[User] How does the company's policy aim to manage interest rate risk for its Financial Products operations?

[Assistant] By aligning the interest rate profile of the debt portfolio with the finance receivable portfolio within a predetermined range, and using interest rate derivative instruments to modify the debt structure to match assets within the finance receivable portfolio


[User] What are the five significant items that are quantified separately in the non-GAAP financial measures for meaningful interpretation of the results?

[Assistant] Restructuring costs related to the divestiture of the company's Longwall business, other restructuring costs, pension and OPEB mark-to-market gains/losses, certain deferred tax valuation allowance adjustments, and goodwill impairment in 2022


[User] What was the ME&T free cash flow amount reported in 2023?

[Assistant] $10,025 million


[User] How is ME&T defined in the context of Caterpillar Inc.'s financial discussions?

[Assistant] ME&T refers to Machinery, Energy & Transportation, which includes Caterpillar Inc. and its subsidiaries, excluding Financial Products, and is involved in the design, manufacturing, and marketing of products.


[User] What are the key businesses included under Caterpillar Inc.'s Financial Products division?

[Assistant] The Financial Products division consists primarily of Caterpillar Financial Services Corporation and Cat Insurance Holdings Inc., focusing on financing customer and dealer purchases and leases of Caterpillar equipment.


[User] What does the 'Consolidating Adjustments' refer to in Caterpillar's financial statements?

[Assistant] Consolidating Adjustments involve the elimination of transactions between ME&T and Financial Products, reflecting their distinct business natures and financial positions.


[User] What were the total current assets of the consolidated group as of December 31, 2023?

[Assistant] $46,949 million


[User] What was the increase in property, plant, and equipment net value from 2022 to 2023 for the consolidated group?

[Assistant] An increase from $12,028 million to $12,680 million


[User] Why did interest expense increase in 2023, and what is expected for 2024?

[Assistant] Interest expense increased in 2023 mainly due to lower capitalized interest associated with spectrum acquisitions and higher interest rates. It is expected to increase further in 2024 due to the cessation of capitalization of interest for C-band spectrum licenses now in service.


[User] What caused the significant difference in the effective tax rate between 2023 and 2022?

[Assistant] The significant difference in the effective tax rate between 2023 and 2022 was mainly due to nondeductible goodwill impairments in 2022, which drastically impacted the effective tax rate.


[User] What was the increase in postpaid phone subscribers at AT&T Inc. from 2021 to 2023?

[Assistant] 3,995 (in thousands)


[User] By what percentage did Total Phone Net Additions decrease in 2023 compared to 2021?

[Assistant] 45.0%


[User] How many total connected devices were there for AT&T Inc. at the end of 2023?

[Assistant] 127,724 (in thousands)


[User] What was the postpaid churn rate for AT&T Inc. in 2023?

[Assistant] 0.98%


[User] What were the EBITDA margins for Consumer Wireline from 2021 to 2023?

[Assistant] Consumer Wireline EBITDA margins were 28.8% in 2021, 29.8% in 2022, and 31.3% in 2023.


[User] How did the number of Fiber Broadband Connections change from 2021 to 2023?

[Assistant] Fiber Broadband Connections increased from 5,992 in 2021 to 8,307 in 2023.


[User] What was the operational trend for voice connections from 2021 to 2023?

[Assistant] Total retail consumer voice connections decreased from 5,159 in 2021 to 3,604 in 2023.


[User] What were the operational results for Mexico in terms of operating income from 2021 to 2023?

[Assistant] Operating income in Mexico improved from a loss of $510 million in 2021 to a loss of $141 million in 2023.


[User] What percentage of Salesforce's total assets were located outside the Americas as of January 31, 2023?

[Assistant] 15 percent of Salesforce's total assets were located outside the Americas as of January 31, 2023.


[User] How does the Company determine the Standalone Selling Price (SSP) for each distinct performance obligation?

[Assistant] The Company determines the Standalone Selling Price (SSP) by considering its overall pricing objectives and market conditions, including discounting practices, transaction size and volume, customer demographics, geographic sales areas, price lists, and historical and current sales and contract prices.


[User] What factors influence the Company's ability to establish Standalone Selling Prices (SSP) based on observable prices?

[Assistant] The Company can establish SSP based on observable prices when it has access to prices of products or services sold or priced separately in comparable circumstances to similar customers.


[User] What methodology does the Company use to capitalize and amortize the costs related to acquiring new revenue contracts?

[Assistant] The Company capitalizes incremental costs of obtaining revenue contracts and amortizes these costs on a straight-line basis over four years, reflecting the anticipated period of benefit, including expected contract renewals.


[User] What were the notional amounts of the foreign currency derivative contracts as of January 31, 2023 and January 31, 2022?

[Assistant] The notional amount of foreign currency derivative contracts was $6.0 billion as of January 31, 2023 and $6.1 billion as of January 31, 2022.


[User] How is depreciation calculated for buildings, equipment, and furniture in the Company?

[Assistant] Depreciation is calculated on a straight-line basis over the estimated useful lives of those assets.


[User] What happens to the Company's lease ROU assets and liabilities at the commencement of a lease?

[Assistant] At the commencement of the lease, the Company classifies its leases and recognizes lease ROU assets and liabilities on the consolidated balance sheets.


[User] What was the fair value of money market mutual funds measured at as of January 31, 2023 and how was it categorized in the fair value hierarchy?

[Assistant] The fair value of money market mutual funds was measured at $1,795 million as of January 31, 2023, and it was categorized under Level 1 in the fair value hierarchy.


[User] How are the company's strategic investments valued and what level of the fair value hierarchy are they classified under?

[Assistant] The company's strategic investments are recorded at fair value on a non-recurring basis using significant unobservable inputs, hence classified as Level 3 within the fair value measurement framework.


[User] What total amount of assets were measured at fair value as of January 31, 2022, and how is this divided across the fair value hierarchy levels?

[Assistant] As of January 31, 2022, the total assets measured at fair value were $8,146 million, with $1,796 million categorized under Level 1 and $6,350 million categorized under Level 2.


[User] What was the weighted-average exercise price per share for shares granted in 2023?

[Assistant] $1,640.78


[User] How many shares were outstanding at the beginning of 2023 and what was their aggregate intrinsic value?

[Assistant] 355 shares with an aggregate intrinsic value of $142,916


[User] What was the total intrinsic value of SOSARs exercised during 2023?

[Assistant] $142,830


[User] What was the risk-free interest rate used in the Black-Scholes model for SOSARs granted in 2023?

[Assistant] 4.1%


[User] How many shares were unvested at the beginning of 2023, and what was their average grant date fair value per share?

[Assistant] 55 shares with an average grant date fair value of $1,396.78 per share


[User] What was the weighted-average grant date fair value per PSU granted in 2022?

[Assistant] $1,569.39


[User] How many shares vested and are expected to vest by the end of 2023 for PSUs, and what is their expected fair value per share?

[Assistant] 114 shares expected to vest with an expected fair value of $1,557.11 per share


[User] What is the maximum percentage of earnings that employees can contribute to Chipotle's Employee Stock Purchase Plan (ESPP)?

[Assistant] 15%


[User] How many shares were authorized for issuance under Chipotle's Employee Stock Purchase Plan as of December 31, 2023?

[Assistant] 250 shares


[User] At what discount can employees purchase stock under Chipotle's ESPP?

[Assistant] 92.5% of the lower of the fair market value on the first and last trading days of each offering period


[User] What is GameStop's trade-in program?

[Assistant] GameStop's trade-in program allows customers to trade-in their pre-owned gaming, mobility, and other products at its stores in exchange for cash or credit towards the purchase of other products.


[User] How many pieces of software discs and consumer electronic devices did GameStop refurbish in 2022?

[Assistant] In 2022, GameStop refurbished over 0.9 million pieces of software discs and over 2.8 million consumer electronic devices.


[User] What percentage reduction in carbon emissions did GameStop achieve in the United States in 2022?

[Assistant] In 2022, GameStop achieved a reduction in year over year carbon emissions in excess of 10% in the United States.


[User] What is the total number of PowerUp Rewards members as of January 28, 2023?

[Assistant] As of January 28, 2023, the PowerUp Rewards loyalty program had approximately 56.7 million members.


[User] What unique brand positions does GameStop leverage?

[Assistant] GameStop leverages its brand position and unique offerings in the gaming industry to attract partnerships, expand product offerings, and acquire new customers.


[User] What major transformation goals is GameStop focusing on?

[Assistant] GameStop is focusing on establishing omnichannel retail excellence and achieving profitability while leveraging its brand to support growth and create long-term value for its shareholders.


[User] How does GameStop's store location choice impact its business strategy?

[Assistant] GameStop targets store locations that are conveniently located, have high visibility and high customer traffic, such as strip centers with mass merchant or supermarket anchor tenants, to ensure high frequency of visits and customer engagement.


[User] What were the major vendors for GameStop's new product purchases in fiscal 2022?

[Assistant] Sony, Nintendo, and Microsoft


[User] How does GameStop mitigate the risk of inventory obsolescence with its primary gaming product vendors?

[Assistant] GameStop has established price protections and return rights with its primary gaming product vendors.


[User] What buying practice does GameStop generally follow and how common is this practice in the industry?

[Assistant] GameStop generally conducts business on an order-by-order basis, a practice that is typical throughout the industry.


[User] How much did the medical costs amount to in 2023?

[Assistant] $241,894 million


[User] What was the total operating cost for 2023?

[Assistant] $339,264 million


[User] What was the return on equity for 2023?

[Assistant] 27.0%


[User] What was the operating margin for UnitedHealthcare in 2023?

[Assistant] 5.8%


[User] What was the medical care ratio (MCR) for 2023?

[Assistant] 83.2%


[User] How much did UnitedHealthcare's revenue amount to in 2023?

[Assistant] $281,360 million


[User] What was the net earnings attributable to UnitedHealth Group common shareholders in 2023?

[Assistant] $22,381 million


[User] What was the earnings from operations for Optum in 2023?

[Assistant] $15,943 million


[User] What was the net earnings margin in 2023?

[Assistant] 6.0%


[User] What was the operating cost ratio in 2023?

[Assistant] 14.7%


[User] What benefits were enhanced by the Company in July 2023?

[Assistant] The Company enhanced its caregiver, bereavement, and volunteer paid leave benefits.


[User] What technologies does the Company use to ensure employee health across physical, mental, emotional, and financial aspects?

[Assistant] The Company uses various programs and practices designed to protect and enhance employee health across physical, mental, emotional, and financial areas.


[User] What is the purpose of the J&J Flex program at the Company?

[Assistant] The J&J Flex program aims to provide a hybrid work model for office-based employees, allowing them to find the right balance between productivity and a mix of in-person and remote work.


[User] Where can the company's SEC filings be accessed?

[Assistant] The company's SEC filings can be accessed on its website at www.investor.jnj.com/financials/sec-filings and also at the SEC's own website, www.sec.gov.


[User] What online resources does the company use to communicate with investors and the public?

[Assistant] The company uses its websites, including www.jnj.com, www.factsaboutourprescriptionopioids.com, www.factsabouttalc.com, and www.LLTManagementInformation.com, to communicate with investors and the public about products, litigation, and other issues.


[User] What is Note 19 about in the report?

[Assistant] Note 19 in the report is about Legal proceedings.


[User] What is the management philosophy of Johnson & Johnson known as?

[Assistant] 'Our Credo'


[User] What percentage of Johnson & Johnson's 2023 sales were accounted for by products introduced within the past five years?

[Assistant] Approximately 25%


[User] How much did Johnson & Johnson invest in research and development in 2023?

[Assistant] $15.1 billion


[User] What were the total sales for Oncology products in 2023?

[Assistant] $17.7 billion


[User] What was the free cash flow for fiscal 2023 and how was it calculated?

[Assistant] The free cash flow for fiscal 2023 was $11.984 billion, calculated as net cash provided by operating activities ($28.841 billion) minus payments for property and equipment ($16.857 billion).


[User] What resulted in an increase in net cash provided by operating activities in fiscal 2023 compared to fiscal 2022?

[Assistant] The increase in net cash provided by operating activities in fiscal 2023 compared to fiscal 2022 was primarily due to moderated levels of inventory purchases, partially offset by a decline in operating income and the timing of certain payments.


[User] What was the return on investment (ROI) for the average invested capital in the latest period and how did this compare to the prior period?

[Assistant] The return on investment (ROI) was 12.7% in the latest period, compared to 14.9% in the prior period.


[User] What factors substantially affected operating expenses as a percentage of net sales in fiscal 2023?

[Assistant] Operating expenses as a percentage of net sales in fiscal 2023 were affected by charges related to opioid legal settlements and restructuring, offset by growth in net sales and reduced COVID-19 costs.


[User] What was the net loss reported in the other gains and losses section for fiscal 2023 and how did it mainly occur?

[Assistant] The net loss reported in the other gains and losses section for fiscal 2023 was $1.5 billion, primarily consisting of net losses associated with the fair value changes of equity and other investments, a gain recognized on the sale of an equity method investment in Brazil, and a dividend from an investment.


[User] How did Walmart's effective income tax rate change from fiscal 2022 to fiscal 2023 and what was the primary cause?

[Assistant] Walmart's effective income tax rate increased from 25.4% in fiscal 2022 to 33.6% in fiscal 2023. The primary cause for this increase was the tax impact of the business reorganization resulting in the full separation of PhonePe from Flipkart.


[User] What contributed to the decrease in Walmart's consolidated net income between fiscal 2022 and 2023?

[Assistant] Walmart's consolidated net income decreased by $2.6 billion from $13.9 billion in fiscal 2022 to $11.3 billion in fiscal 2023.


[User] What factors led to the reduction of operating expenses as a percentage of net sales in fiscal 2023 compared to 2022 for the Walmart U.S. segment?

[Assistant] Operating expenses as a percentage of segment net sales decreased by 25 basis points in fiscal 2023 compared to the previous fiscal year, which was primarily driven by strong sales growth and lower incremental COVID-19 related costs. This decrease was partially offset by increased wage costs.


[User] What were the primary reasons for the growth in net sales for the Walmart U.S. segment during fiscal 2023?

[Assistant] The primary reasons for the 6.9% growth in net sales for the Walmart U.S. segment in fiscal 2023 were increases in comparable sales, driven by growth in average ticket, strong food sales, higher inflation impacts on certain merchandise categories, and growth in transactions.


[User] How did Walmart International's net sales change during fiscal 2023 compared to the previous year?

[Assistant] Walmart International's net sales remained flat during fiscal 2023 compared to fiscal 2022.


[User] How did NVIDIA pivot its GPU architecture usage beyond PC graphics?

[Assistant] NVIDIA leveraged its GPU architecture to create platforms for scientific computing, AI, data science, AV, robotics, metaverse, and 3D internet applications.


[User] What amount did NVIDIA total in inventory provisions and purchase obligations in fiscal year 2023?

[Assistant] Inventory provisions for excess inventory and purchase obligations totaled $2.17 billion in fiscal year 2023.


[User] What was the impact of COVID-19 on customer sales in China during fiscal year 2023, and what could happen if lockdowns return?

[Assistant] During fiscal year 2023, end customer sales for NVIDIA's products in China were negatively impacted by lockdowns. This impact may continue if lockdowns return.


[User] What was the percentage increase in Data Center revenue for fiscal year 2023 compared to the previous year?

[Assistant] Data Center revenue increased by 41% in fiscal year 2023 compared to the previous year.


[User] How much did the company return to shareholders in the form of share repurchases and cash dividends during fiscal year 2023?

[Assistant] The company returned $10.44 billion to shareholders in the form of share repurchases and cash dividends during fiscal year 2023.


[User] What was the percentage impact on gross margin from inventory provisions and sales of previously written down items in fiscal year 2023?

[Assistant] The impact on gross margin from inventory provisions and sales of previously written down items was an unfavorable 7.5% in fiscal year 2023.


[User] How does the company account for customer programs involving rebates and marketing development funds?

[Assistant] The company accounts for customer programs, such as rebates and marketing development funds (MDFs), as a reduction to revenue and accrues for potential rebates and MDFs based on the amount expected to be claimed by customers.


[User] What steps are followed by the company to recognize revenue from its sales?

[Assistant] The company follows five steps to recognize revenue from its sales: identification of the contract with a customer, identification of the performance obligations in the contract, determination of the transaction price, allocation of the transaction price to the performance obligations in the contract, and recognition of revenue when or as it satisfies a performance obligation.


[User] What are the factors that the company must consider when making inventory commitments as a fabless semiconductor company?

[Assistant] As a fabless semiconductor company, it must consider forecasts of future customer demand, third-party manufacturers' lead times and constraints, and other market factors such as competitors' product offerings and pricing actions, new product transitions, and macroeconomic conditions.


[User] How much did the valuation allowance related to certain deferred tax assets change from fiscal year 2022 to 2023?

[Assistant] The valuation allowance increased by $573 million from fiscal year 2022 to 2023.


[User] How much stock-based compensation expense did Chipotle Mexican Grill, Inc. incur during the year ended December 31, 2023?

[Assistant] $126.7 million


[User] What was the percentage increase in Chipotle Mexican Grill's net income from 2021 to 2023?

[Assistant] 88.10%


[User] How much did Chipotle's accounts payable change from the beginning to the end of the year?

[Assistant] Increased by $16,127


[User] What method is used to calculate depreciation for leasehold improvements, property, and equipment?

[Assistant] Depreciation for leasehold improvements, property, and equipment is calculated using the straight-line method over the estimated useful lives of the assets.


[User] What was the total investment in Nuro, Inc. as stated in the financial documents for December 31, 2023?

[Assistant] $15,968


[User] What was the effective income tax rate for the year ended December 31, 2023, and how does it compare to the previous year's rate?

[Assistant] The effective income tax rate for the year ended December 31, 2023, was 24.2%, which is higher than the previous year's rate of 23.9%.


[User] What is the total assets and shareholders' equity of Chubb Limited as of December 31, 2023?

[Assistant] As of December 31, 2023, Chubb Limited had total assets of $231 billion and total shareholders' equity of $60 billion.


[User] What significant acquisition did Chubb Limited complete to expand their life insurance business in Asia?

[Assistant] In 2022, Chubb Limited acquired Cigna's business in several Asian markets to expand their life insurance business.


[User] What percentage of the Huatai Insurance Group Co. Ltd does Chubb Limited own as of July 1, 2023?

[Assistant] As of July 1, 2023, Chubb Limited owns approximately 76.5 percent of Huatai Insurance Group Co. Ltd.


[User] What percentage of Chubb's U.S. workforce were underrepresented minorities as of December 31, 2023?

[Assistant] 31 percent


[User] What percentage of net revenues came from Mutual Funds, ETFs, and Collective Trust Funds (CTFs) in 2023?

[Assistant] 13%


[User] What was the percentage contribution of Bank Deposit Account Fees to net revenues in 2023, and how did it change from 2022?

[Assistant] From 7% in 2022 to 4% in 2023


[User] How much did the Federal Home Loan Bank borrowings increase in terms of interest rates from 2022 to 2023?

[Assistant] From 4.59% in 2022 to 5.14% in 2023.


[User] What trend was observed in net premium amortization of investment securities from 2021 to 2023?

[Assistant] Net premium amortization decreased steadily from $2.3 billion in 2021 to $1.4 billion in 2022, and further to $830 million in 2023.


[User] What types of fees are included in the asset management and administration fees of The Charles Schwab Corporation?

[Assistant] The asset management and administration fees at The Charles Schwab Corporation include trust fees, 401(k) recordkeeping fees, mutual fund clearing fees, and non-balance based service and transaction fees.


[User] How do asset management and administration fees vary at The Charles Schwab Corporation?

[Assistant] Asset management and administration fees at The Charles Schwab Corporation vary with changes in the balances of client assets due to market fluctuations and client activity.


[User] What was the impact of the Federal Reserve’s policy changes on Schwab money market funds in 2022?

[Assistant] The Federal Reserve’s increases to the federal funds target overnight rate led to the elimination of money market fund fee waivers during the second quarter of 2022 at The Charles Schwab Corporation.


[User] What is the percentage change in principal transactions revenue between 2022 and 2023?

[Assistant] 52%


[User] How did the revenue per trade in 2023 compare to 2021?

[Assistant] $2.41 in 2023 and $2.54 in 2021


[User] What factors contributed to the decrease in trading revenue from 2022 to 2023?

[Assistant] The decrease in trading revenue was primarily due to lower options order flow revenue, narrower quoted spreads in the options market, and lower equity order flow revenue.


[User] What was the outcome of the insurance coverage litigation's final judgment in Wisconsin in July 2007?

[Assistant] The judgment declared that each insurer whose policy is triggered is liable for 100% of Aqua-Chem's losses up to the policy limits.


[User] What was the IRS seeking in the notice of deficiency issued to the company on September 17, 2015?

[Assistant] The IRS was seeking approximately $3.3 billion of additional federal income tax for the years 2007 through 2009 by reallocating over $9 billion of income from foreign affiliates to the U.S. parent company.


[User] What was the IRS's new tax assessment on the company following their litigation designation?

[Assistant] The IRS increased its transfer pricing adjustment by $385 million, resulting in an additional tax adjustment of $135 million.


[User] What legal action did the company initially take in response to the IRS's designation for litigation?

[Assistant] The company initiated litigation by filing a petition in the Tax Court in December 2015, challenging the tax adjustments specified in the Notice.


[User] How did the Tax Court rule on November 18, 2020, regarding the company's dispute with the IRS?

[Assistant] The Tax Court predominantly sided with the IRS but agreed that dividends previously paid by the foreign licensees to the U.S. parent company should continue to be allowed to offset royalties.


[User] What tax reserve amount did the company record at the end of 2020?

[Assistant] The company recorded a tax reserve of $438 million at the end of 2020.


[User] What is the estimated potential incremental tax and interest liability as of December 31, 2023, if the Tax Court Methodology is upheld and applied to subsequent years?

[Assistant] The estimated potential incremental tax and interest liability is approximately $16 billion as of December 31, 2023.


[User] What strategies is the company employing to enhance its competitiveness in a digital environment?

[Assistant] The company is continuously strengthening its capabilities in marketing and innovation, increasing investments in e-commerce, offering more package sizes suitable for online sales, and shifting consumer and trade promotions to digital.


[User] What are the Coca-Cola system's commitments to product safety and quality?

[Assistant] The Coca-Cola system commits to producing high-quality, safe, and refreshing beverages with rigorous product and ingredient safety and quality standards, and drives innovation to offer new beverage options catering to evolving consumer needs.


[User] What measures does the Coca-Cola system take to maintain consistency in product safety and quality?

[Assistant] The Coca-Cola system ensures consistency in safety and quality through strong governance, compliance with regulations and standards, staying current with new regulations and industry best practices, and maintaining an integrated quality management program.


[User] What types of customers and counterparties are monitored in the company's financial exposure tracking process?

[Assistant] The company monitors financial exposure to both sovereign and non-sovereign customers and counterparties.


[User] Which roles constitute the second line of defense in the company's risk management structure?

[Assistant] The second line of defense includes the Chief Risk Officer, the Chief Compliance Officer, the Chief Operational Risk Officer, and certain control groups at both the enterprise level and within regulated entities.


[User] What is the role of the Privacy Risk Management Committee at American Express?

[Assistant] The Privacy Risk Management Committee at American Express, a sub-committee of the ORMC and chaired by the Chief Privacy Officer, provides oversight and governance for the company's privacy program.


[User] How does American Express manage and mitigate market risk?

[Assistant] American Express manages market risk by setting policies that guide and control market risk management, including the establishment of quantitative limits and escalation triggers. These policies are overseen by the ERMC, Asset Liability Committee, or the Market Risk Management Committee.


[User] What are the primary methods American Express uses to manage foreign exchange risk?

[Assistant] American Express manages foreign exchange risk through spot transactions and the use of hedged foreign exchange forward contracts, aimed at offsetting the impacts from currency movements in respective periods.


[User] What was the total notional amount of foreign currency derivative instruments outstanding as of December 31, 2023?

[Assistant] As of December 31, 2023, the total notional amount of foreign currency derivative instruments outstanding was approximately $39 billion.


[User] What would be the financial impact of a hypothetical 10 percent strengthening of the U.S. dollar on anticipated earnings denominated in foreign currencies for the twelve months following December 31, 2023?

[Assistant] The adverse impact on pretax income of a hypothetical 10 percent strengthening of the U.S. dollar would be approximately $242 million as of December 31, 2023.


[User] What is the purpose of the funding and liquidity risk management process?

[Assistant] The purpose of the funding and liquidity risk management process is to ensure that the company can meet its ongoing financial and business obligations at a reasonable cost as they become due.


[User] How does the nature of revolving loan products affect the complexity in attributing future payments?

[Assistant] The nature of revolving loan products, which includes a relationship between future payments and spend behavior, adds complexity to the task of attributing these future payments either partially or entirely to the existing balance at the end of the reporting period.


[User] What does CECL require regarding assumptions about economic conditions?

[Assistant] CECL requires the inclusion of assumptions about current and future economic conditions in the R&S Period, and this involves incorporating multiple macroeconomic scenarios provided by an independent third party.


[User] How has the company prepared for the increasing complexity and number of data protection laws?

[Assistant] The company has developed strategies to address regulatory trends and developments, including required changes to its privacy and data protection compliance programs and policies.


[User] How does the company ensure diversity, equity, and inclusion in its workplace?

[Assistant] The company has diversity, equity, and inclusion aspirations, conducts annual pay equity analyses, and supports employee-led inclusion networks, among other initiatives.


[User] What types of environmental regulations does the company need to comply with?

[Assistant] The company is subject to environmental protection statutes and regulations related to the use and treatment of water resources, discharge of wastewater, and air emissions.


[User] What factors influence the alignment of employee compensation in the company?

[Assistant] Employee compensation is influenced by position, skill level, experience, and geographic location.


[User] What components are included in the company's employee compensation programs?

[Assistant] The employee compensation programs include base pay, annual incentive awards, recognition programs, and equity awards for employees at certain job levels.


[User] What types of employee benefits does the company offer?

[Assistant] The company offers employee benefits such as 401(k) plans, pension plans, life insurance, medical and dental insurance, vision insurance, well-being rewards programs, and more.


[User] How does the company measure and support employee engagement and cultural growth?

[Assistant] The company uses Performance Enablement and Culture & Engagement Survey platforms to measure and support progress against growth behaviors, ensuring employees are engaged and fulfilled at work.


[User] What online resources does the company provide for investors and the public?

[Assistant] The company maintains a website that provides reports and other filings with the SEC, as well as news releases and announcements on its 'Investors' page.


[User] What type of legal action did the company seek in the initial lawsuit filed against Aqua-Chem in Georgia in 2002?

[Assistant] The company sought a declaratory judgment that it has no obligations to Aqua-Chem for any liabilities or expenses related to claims or lawsuits against Aqua-Chem.


[User] What were the main subjects of the disputes in the insurance coverage litigation that began in March 2004 in Wisconsin?

[Assistant] The litigation sought to determine the parties' rights and obligations under the insurance policies regarding asbestos claims against Aqua-Chem, and also involved claims for monetary reimbursement by the insurers.


[User] What accounting principle requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs in measuring fair value?

[Assistant] Fair value measurement under applicable accounting standards


[User] What is included in the lending-related fees in a Corporation's revenue structure?

[Assistant] Lending-related fees generally represent transactional fees earned from certain loan commitments, financial guarantees and Standby Letters of Credit (SBLCs).


[User] What were the total derivative assets and liabilities at Bank of America as of December 31, 2023, after adjusting for master netting agreements and cash collateral?

[Assistant] $39.3 billion in assets and $43.4 billion in liabilities


[User] What are the total notional amounts for written credit derivatives held at December 31, 2023, and how do they compare to purchased credit derivatives?

[Assistant] The total notional amount of written credit derivatives was $276.9 billion at December 31, 2023.


[User] What are the components of total derivative assets/liabilities and how are they impacted by financial instruments collateral?

[Assistant] Total derivative assets/liabilities initially amount to $39.3 million, which is then reduced to $23.8 million after accounting for $15.5 million in financial instruments collateral. This collateral includes securities collateral received or pledged, as well as cash securities held and posted at third-party custodians, which are used to derive the net derivative assets and liabilities.


[User] How much was the amortized cost of the closed portfolios used in hedging relationships at the end of 2023?

[Assistant] $39.1 billion


[User] How did the total sales and trading revenue for Bank of America change from 2021 to 2023?

[Assistant] Total sales and trading revenue increased from $14,768 million in 2021 to $16,830 million in 2023.


[User] What is the maximum amount payable by the Corporation for most credit derivatives, and how is this measured in terms of credit risk management?

[Assistant] The notional amount represents the maximum amount payable by the Corporation for most credit derivatives. However, this notional amount is not a reliable indicator of exposure due to its lack of probability consideration. To manage this, a risk framework is employed to define risk tolerances and establish limits, ensuring that credit risk-related losses stay within acceptable predefined limits.


[User] What were the gross realized losses on sales of AFS debt securities in 2023?

[Assistant] $514 million


[User] What type of corporation is The Coca-Cola Company?

[Assistant] The Coca-Cola Company is a total beverage company that markets a wide range of beverage products.


[User] When was The Coca-Cola Company incorporated, and under which state's laws?

[Assistant] The Coca-Cola Company was incorporated in September 1919 under the laws of the State of Delaware.


[User] How does The Coca-Cola Company distribute its beverage products globally?

[Assistant] The Coca-Cola Company makes its branded beverage products available worldwide through independent bottling partners, distributors, wholesalers, retailers, and its own consolidated bottling and distribution operations.


[User] What are the key pillars of The Coca-Cola Company's growth vision?

[Assistant] The Coca-Cola Company's growth vision includes three key pillars: Loved Brands, Done Sustainably, and For a Better Shared Future.


[User] What are the components of The Coca-Cola Company's Corporate operating structure?

[Assistant] The Coca-Cola Company's Corporate operating structure consists of a center focusing on strategic initiatives and a platform services organization that supports operating units by providing global services.


[User] What was the company's strategy regarding alcohol beverage category in the United States?

[Assistant] In the United States, the company established a wholly owned, indirect, firewalled subsidiary which authorizes alcohol-licensed third parties to use certain of the company's trademarks and related intellectual property on alcohol beverages that contain company beverage bases.


[User] What are the three segments of alcohol ready-to-drink beverages the company is focusing on?

[Assistant] The company's focus in the alcohol segment includes hard seltzers, hard alternatives, and pre-mixed cocktails.


[User] What percentage of the company's worldwide unit case volume in 2023 was represented by the U.S. unit case volume?

[Assistant] In 2023, unit case volume in the United States represented 16% of the company's worldwide unit case volume.


[User] What was the total worldwide unit case volume sold by the Coca-Cola system in 2023, and how does it compare to 2022?

[Assistant] The Coca-Cola system sold 33.3 billion unit cases in 2023, which was an increase from 32.7 billion unit cases sold in 2022.


[User] What is the incidence-based concentrate pricing model used by the company?

[Assistant] The incidence-based concentrate pricing model used by the company adjusts the concentrate price based on factors including bottler pricing, the channels in which the finished products are sold, and the package mix.


[User] What type of agreement do most U.S. bottlers operate under and what is it typically referred to as?

[Assistant] Most U.S. bottlers operate under a contract typically referred to as a “Comprehensive Beverage Agreement” or “CBA.”


[User] What is the largest source of revenue for the payments company and how is it determined?

[Assistant] The largest source of revenue for the company is discount revenue, which is determined by fees charged for accepting the company's cards as payment, varying by factors such as the merchant's industry, transaction volume, and payment method.


[User] What primarily drove the increase in service fees and other revenue associated with Card Member cross-currency spending?

[Assistant] The increase in service fees and other revenue associated with Card Member cross-currency spending was primarily driven by foreign exchange related revenues.


[User] What factors contributed to the increase in processed revenue?

[Assistant] The increase in processed revenue was primarily driven by an increase in network partner volumes, though it was partially offset by a decrease in volumes associated with the decommission of one of the alternative payment solutions.


[User] What were the main reasons for the increase in interest income?

[Assistant] The increase in interest income was primarily driven by higher interest rates and growth in revolving loan balances.


[User] What led to the increase in interest expenses?

[Assistant] The increase in interest expenses was primarily driven by higher interest rates paid on customer deposits.


[User] What is the average annual fee per card as of the most recent year presented in the data?

[Assistant] The average annual fee per card as of the most recent year is $92.


[User] How much did the proprietary basic cards-in-force total in the most recent year noted in the list?

[Assistant] The proprietary basic cards-in-force totaled 61.7 million in the most recent year noted.


[User] What was the percentage increase in proprietary Net write-offs for principal from the prior year to the most recent year?

[Assistant] The percentage increase in proprietary Net write-offs for principal from the prior year to the most recent year was 100 percent.


[User] What does adjusted net interest income represent in financial reporting?

[Assistant] Adjusted net interest income represents both the interest expense and interest income attributable to a company's Card Member loan portfolio. It is considered a significant aspect of assessing the profitability of the loan portfolio as it is a component of the net interest yield on average Card Member loans.


[User] How is interest income not attributable to the Card Member loan portfolio primarily represented in financial documents?

[Assistant] In financial documents, interest income not attributable to the Card Member loan portfolio is primarily represented as income from other sources such as other loans, interest-bearing deposits, and the fixed income investment portfolios.


[User] When was the first Chipotle restaurant opened and where?

[Assistant] The first Chipotle restaurant opened in Denver, Colorado in 1993.


[User] How many Chipotle restaurants does the company operate internationally as of December 31, 2023?

[Assistant] As of December 31, 2023, Chipotle operates 66 international restaurants.


[User] What is Chipotle's 'Food with Integrity' commitment about?

[Assistant] Chipotle's 'Food with Integrity' commitment focuses on using high-quality ingredients raised with respect for animals, farmers, and the environment, and serving food without artificial colors, flavors or preservatives.


[User] How has Chipotle's digital sales changed in percentage terms from 2022 to 2023?

[Assistant] Digital sales decreased from 39.4% of food and beverage revenue in 2022 to 37.4% in 2023.


[User] What are Chipotle's key strategies for business growth as discussed in their strategy?

[Assistant] Chipotle's key business strategies include developing diverse talent, delivering exceptional dining experiences, making the brand loved and visible, amplifying technology and innovation, and expanding access and convenience by opening new restaurants.


[User] What measures does Chipotle employ to ensure high food safety standards?

[Assistant] Chipotle implements food safety and quality assurance measures including natural inhibitors, advanced technologies, enhanced restaurant procedures, food safety certifications, internal and third-party inspections, small grower support, and ingredient traceability.


[User] What were Chipotle's employment numbers at the close of 2023, and how does the company view its employee relationships?

[Assistant] As of December 31, 2024, Chipotle employed 116,068 people worldwide. The company believes its relationship with its employees is good, characterized by effective workforce management and a strong culture.


[User] What program offers Chipotle employees access to tuition-free degrees at select universities?

[Assistant] The Debt-Free Degree program.


[User] How does Chipotle ensure pay equity among its employees?

[Assistant] Chipotle retains an independent third-party consultant annually to conduct a pay equity analysis, considering factors like grade level, tenure in role, and geographic location.


[User] What is the purpose of the Management Leadership for Tomorrow’s Black Equity at Work Certification Program that Chipotle participates in?

[Assistant] The program establishes a comprehensive measurement system and accelerates progress toward Black equity internally and externally by supporting Black equity within business partners.


[User] What were the main concerns raised in the audit of Peloton Interactive, Inc.'s internal control over financial reporting as of June 30, 2023?

[Assistant] The audit raised concerns about material weaknesses in Peloton Interactive, Inc.'s inventory process and ineffective user access controls over an information technology system that supports the company's financial reporting process.


[User] What are the inherent limitations of internal controls over financial reporting as described?

[Assistant] Internal controls over financial reporting may not prevent or detect misstatements due to their inherent limitations.


[User] What factors can affect the future effectiveness of internal controls according to the discussion?

[Assistant] The future effectiveness of internal controls can be compromised by changes in conditions or a deterioration in compliance with policies or procedures.


[User] How much was Peloton Interactive, Inc.'s net loss for the period ending June 30, 2021?

[Assistant] The net loss for Pel the period ending June 30, 2021, was $2,827.7 million.


[User] What was the total stockholder's equity (deficit) for Peloton Interactive, Inc. as of June 30, 2021?

[Assistant] The total stockholder's equity (deficit) for Peloton Interactive, Inc. as of June 30, 2021, was $1,754.1 million.


[User] What is Peloton Interactive, Inc. known for in the interactive fitness industry?

[Assistant] Peloton Interactive, Inc. is known for pioneering connected, technology-enabled fitness, creating interactive fitness equipment, and streaming immersive, instructor-led boutique classes to its members anytime, anywhere.


[User] How does Peloton Interactive, Inc. recognize revenue from its goods and services?

[Assistant] Peloton Interactive, Inc. recognizes revenue when control of the promised goods or services is transferred to its customers, in an amount that reflects the consideration the company expects to be entitled to in exchange for those goods or services.


[User] What is the accounting treatment for the $1.0 billion aggregate principal amount of 0% Convertible Senior Notes due 2026 according to FASB ASC Subtopic 470-20?

[Assistant] The $1.0 billion 0% Convertible Senior Notes due 2026 are accounted for entirely as a liability under FASB ASC Subtopic 470-20. No portion of the proceeds from the issuance is attributed to the conversion feature unless it requires separate accounting as an embedded derivative or involves a premium subject to ASC 470 guidelines.


[User] How are capped call transactions used in relation to the issuance of convertible notes?

[Assistant] Capped call transactions are used simultaneously with the issuance of convertible notes to minimize potential dilution upon conversion of the notes.


[User] How does the Company handle the accounting for customer refunds and expected inventory recoveries?

[Assistant] The Company records the expected customer refund liability as a reduction to revenue, and the expected inventory right of recovery as a reduction of cost of revenue. Adjustments are made to these accounts in the period in which actual return costs differ from previous estimates.


[User] By what percentage did bank deposit account fees decrease from 2022 to 2023, and what were the main reasons for this decrease?

[Assistant] 50%


[User] How much did professional services expenses increase in 2023 from the previous year?

[Assistant] Slightly, mainly due to increased utilization of professional services to support business growth.


[User] What factors influenced the decrease in total net revenues for both Investor Services and Advisor Services in 2023?

[Assistant] The decrease in total net revenues for both Investor Services and Advisor Services in 2023 was influenced by higher-cost funding sources, lower average interest-earning asset balances, a decrease in bank deposit account fees, lower client trading activity, and a decrease in order flow revenue and commissions. These factors were partially offset by an increase in asset management and administration fees.


[User] How did asset management and administration fees change for Investor Services and Advisor Services from 2021 to 2023?

[Assistant] Asset management and administration fees increased for both Investor Services and Advisor Services from 2021 to 2023. This was primarily due to higher money market fund balances and the elimination of money market fund fee waivers during 2022, along with growth in Schwab proprietary fund products.


[User] What were the major factors contributing to the increased expenses excluding interest for Investor Services and Advisor Services in 2023?

[Assistant] The increase in expenses excluding interest for both Investor Services and Advisor Services in 2023 was driven by higher compensation and benefits expenses due to restructuring costs, higher average headcount to support TDA client account transitions, and annual merit increases, along with increased regulatory fees and assessments.


[User] What was the impact of a $200 million charge from a regulatory matter settled in 2022 on other expenses in 2021?

[Assistant] The $200 million charge from a regulatory matter settled in 2022 partially offset lower other expenses in 2021.


[User] What are the key components of Schwab's risk management program?

[Assistant] Schwab's risk management program comprises risk identification and assessment, risk response, risk measurement and monitoring, and risk reporting and escalation.


[User] How does Schwab ensure the effectiveness of its disclosure controls and procedures?

[Assistant] Schwab's Disclosure Committee monitors and evaluates the effectiveness of the company's disclosure controls and procedures and internal control over financial reporting at the end of each fiscal quarter, reporting these evaluations to the CEO and CFO.


[User] What are the different types of risks that Schwab manages?

[Assistant] Schwab manages various types of risks including operational risk, model risk, compliance risk, privacy risk, anti-money laundering/sanctions risk, conduct risk, fiduciary risk, incentive compensation risk, credit risk, and market risk.


[User] How does Schwab manage its exposure to operational risk from third-party service providers?

[Assistant] Schwab manages its exposure to operational risk from third-party service providers through internal policies, procedures and controls, and contractual provisions. These include control standards, ongoing monitoring of third-party performance, and appropriate testing with third-parties.


[User] What was the net impact of fair value hedging instruments on earnings in 2023?

[Assistant] $18 million


[User] What were the total notional values of derivatives related to foreign currency economic hedges as of December 31, 2023?

[Assistant] $6,989 million


[User] What were the gross carrying values and accumulated amortizations for customer relationships as of December 31, 2023 and December 31, 2022?

[Assistant] As of December 31, 2023, the gross carrying value for customer relationships was $309 million with an accumulated amortization of $118 million. As of December 31, 2022, the gross carrying value was $354 million with an accumulated amortization of $109 million.


[User] What was the outcome of the Company's tax dispute regarding foreign tax credits?

[Assistant] The Company obtained a summary judgment in its favor on a matter related to Mexican foreign tax credits.


[User] How was the stock-based compensation expense of $254 million accounted for in the company's financial statements?

[Assistant] The stock-based compensation expense of $254 million was recorded in the line item selling, general, and administrative expenses in the company's consolidated statement of income.


[User] How many performance share units vested at the target level for the 2021-2023 performance period as of December 31, 2023?

[Assistant] 2,854


[User] What were the accumulated benefit obligation and fair value of plan assets for certain U.S. pension plans with obligations exceeding assets as of December 31, 2023?

[Assistant] The accumulated benefit obligation was $5,165 million, and the fair value of plan assets was $4,379 million.


[User] What is the expected long-term rate of return on plan assets used in computing the 2023 net periodic benefit income for U.S. pension plans?

[Assistant] 6.75%


[User] How much does the company plan to contribute to its pension trusts in 2024, and to what type of plans will the contributions be allocated?

[Assistant] The company plans to contribute approximately $47 million to its pension trusts in 2024, specifically allocating these funds to international plans.


[User] What was the gross amount of unrecognized tax benefits as of December 31, 2023, and what would be the net benefit to the company if it prevailed on all uncertain tax positions?

[Assistant] As of December 31, 2023, the gross amount of unrecognized tax benefits was $929 million. If the company were to prevail on all uncertain tax positions, the net benefit would be $632 million, excluding any benefits related to interest and penalties.


[User] What was the total income tax benefit recognized in the income statement for share-based compensation costs in fiscal year 2023?

[Assistant] $221 million


[User] What was the percentage change in U.S. sales of the COVID-19 vaccine from 2022 to 2023?

[Assistant] There was a complete cessation of U.S. sales from $120 million in 2022 to $0 in 2023, representing a 100% decrease.


[User] What was the total value of Johnson & Johnson's current assets at the end of 2023?

[Assistant] $53,495 million


[User] What is the total number of stores operated by The Home Depot at the end of fiscal 2022?

[Assistant] 2,322 stores


[User] How much total space does an average The Home Depot store encompass including its garden area?

[Assistant] approximately 128,000 square feet


[User] What year was The Home Depot, Inc. incorporated?

[Assistant] 1978


[User] What type of products does The Home Depot provide to its customers?

[Assistant] building materials, home improvement products, lawn and garden products, décor products, and facilities maintenance, repair and operations products


[User] What additional services does The Home Depot offer?

[Assistant] home improvement installation services and tool and equipment rental


[User] What are The Home Depot's goals for its future business operations as stated in the text?

[Assistant] provide the best customer experience in home improvement, extend their position as the low-cost provider, and be the most efficient investor of capital in home improvement


[User] How much did The Home Depot invest in capital expenditures in fiscal 202 with what intention?

[Assistant] $3.1 billion to support the business and advance goals


[User] What speeds does the company's domestic broadband service offer on its HFC network as of 2023?

[Assistant] The company offers downstream speeds up to 2 gigabits per second on its HFC network.


[User] What are some examples of direct-to-consumer streaming services that Comcast competes with?

[Assistant] Disney+ and Netflix


[User] What types of services do Comcast's competitors offer?

[Assistant] Virtual multichannel video providers and free ad-supported television services


[User] What services do companies that build fiber-based networks provide in the Connectivity & Platforms markets?

[Assistant] Bundled services including wireless and broadband


[User] What kind of competition does Comcast face in the media industry?

[Assistant] Competition from companies providing technology and tools to media industry customers


[User] What factors influence Comcast's advertising revenue?

[Assistant] Audience ratings and the number of advertising units in their programming


[User] What are the expiration dates for Comcast's NFL streaming and broadcast rights?

[Assistant] 2033-34 season


[User] Which sports events does Comcast have the most significant rights commitments for?

[Assistant] NFL, Olympics and English Premier League


[User] How long are the rights for the Summer and Winter Olympic Games held by Comcast?

[Assistant] Until 2032


[User] What is the primary revenue source for Comcast's Theme Parks segment?

[Assistant] guest spending at the theme parks, including ticket sales and in-park purchases


[User] What advancements characterize the AMD EPYC 9004 Series processors?

[Assistant] The AMD EPYC 9004 Series processors are built on the “Zen 4” 5 nanometer process node and are designed to deliver leadership performance and energy efficiency for a range of market segments and workloads.


[User] How does the AMD Instinct family of GPU accelerators cater to data center workloads?

[Assistant] The AMD Instinct family of GPU accelerators, including the MI200 and MI300 Series, is designed for compute-accelerated data center workloads such as AI training and inferencing, and a range of supercomputing applications.


[User] What are the different segments that AMD reports financially?

[Assistant] AMD has four reportable segments: the Data Center segment, the Client segment, the Gaming segment, and the Embedded segment.


[User] What improvements do AMD’s Ryzen 7000 Series desktop processors provide?

[Assistant] The AMD Ryzen 7000 Series desktop processors are based on the “Zen 4” architecture and deliver leadership performance for gamers and content creators.


[User] What technology is featured in the Ryzen 7000 and 5000 Series to improve gaming performance?

[Assistant] AMD 3D V-Cache technology


[User] How many cores do the Ryzen Threadripper 7000 Series processors feature?

[Assistant] Up to 64 cores


[User] What do AMD's mobile APUs combine for notebook PCs?

[Assistant] High levels of performance and efficiency


[User] What are the AMD Ryzen 7045 Series processors designed to deliver?

[Assistant] High performance gaming solutions


[User] What feature dedicated AI hardware in an x86 processor and uses the XDNA architecture?

[Assistant] Ryzen 7040 Series mobile processors


[User] What do AMD Ryzen Threadripper PRO 7000 WX-Series processors provide across multiple workstation workloads?

[Assistant] Full-spectrum performance


[User] What are the forms of equity-based compensation included in the AutoZone, Inc. 2020 Omnibus Incentive Award Plan?

[Assistant] The forms of equity-based compensation in the AutoZone, Inc. 2020 Omnibus Incentive Award Plan include stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalents, deferred stock, stock payments, performance based awards, cash based awards, and other incentive awards structured by the Compensation Committee and the Board.


[User] What was the balance in Accumulated Other Comprehensive Loss as of August 26, 2023?

[Assistant] $190,836


[User] What is the definition of the quarterly minimum consolidated interest coverage ratio required by the company?

[Assistant] The quarterly minimum consolidated interest coverage ratio required by the company is defined as the ratio of consolidated earnings before interest, taxes, and rents to consolidated interest expense plus consolidated rents, and it should be no less than 2.5:1.


[User] What are the primary business activities of the ALLDATA segment operated by the Company?

[Assistant] The primary business activities of the ALLDATA segment include producing, selling, and maintaining diagnostic, repair, collision, and shop management software used in the automotive repair industry.


[User] What type of insurance policy does Caterpillar Insurance Co. Ltd. assume for the Caterpillar Voluntary Employees' Benefits Association Trust?

[Assistant] Accident and Health Stop Loss Insurance Policy


[User] Where is Caterpillar Insurance Co. Ltd. domiciled, and under what regulatory authority does it operate?

[Assistant] Caterpillar Insurance Co. Ltd. is domiciled in Bermuda and regulated by the Bermuda Monetary Authority.


[User] What types of insurance licenses does Caterpillar Insurance Co. Ltd. hold in Bermuda?

[Assistant] Caterpillar Insurance Co. Ltd. is registered as a Class 2 (General Business) and Class B (Long-Term) insurer.


[User] What kind of coverage does the Class 2 insurance license of Caterpillar Insurance Co. Ltd. include?

[Assistant] The Class 2 insurance license includes general liability, property, auto liability, cargo, and medical and accident coverages.


[User] What is the role of the Bermuda Monetary Authority in relation to Caterpillar Insurance Co. Ltd.?

[Assistant] The Bermuda Monetary Authority is responsible for monitoring compliance with solvency requirements and requires an Annual Financial Filing.


[User] What types of services does Caterpillar Insurance Services Corporation provide and where is it licensed to operate?

[Assistant] Caterpillar Insurance Services Corporation provides brokerage and insurance services for all property and casualty and life and health lines of business. It is licensed in all 50 states, the District of Columbia, and Guam.


[User] How does Chubb's Crop Insurance program manage potential financial exposure?

[Assistant] Chubb manages potential financial exposure in its Crop Insurance program by purchasing third-party proportional and stop-loss reinsurance and may also enter into crop derivative contracts.


[User] What were the primary reasons for the decrease in cash used for financing in 2023 compared to 2022?

[Assistant] The primary reasons for the decrease in cash used for financing in 2023 compared to 2022 were lower long-term debt repayments of $525 million and lower common shares repurchased of $483 million.


[User] What are the total estimated payments for future policy benefits and market risk benefits as stated?

[Assistant] The total estimated payments for future policy benefits are $56.0 billion and for market risk benefits are $1.5 billion.


[User] What are the total upcoming obligations for short-term and long-term debt and trust preferred securities over the next twelve months?

[Assistant] The total upcoming obligations for short-term and long-term debt and trust preferred securities over the next twelve months are $1.5 billion.


[User] What were the specific financial covenants met at December 31, 2023, regarding a company's credit facilities?

[Assistant] At December 31, 2023, the company met financial covenants that included maintaining a minimum consolidated net worth of not less than $41.959 billion and keeping the ratio of consolidated debt to total capitalization at or below 0.35 to 1.


[User] In which section of Form 10-K do financial statements and supplementary data begin?

[Assistant] Page F-1


[User] What are the primary services provided by the company under the Xfinity, Comcast Business, and Sky brands?

[Assistant] They provide broadband, wireless, video, and voice services.


[User] What type of content does the company distribute through NBC, Telemundo, Universal, Peacock, and Sky brands?

[Assistant] The company distributes entertainment, sports, and news.


[User] What are the two primary businesses of the company?

[Assistant] Connectivity & Platforms and Content & Experiences.


[User] What does the Residential Connectivity & Platforms segment primarily include?

[Assistant] It includes residential broadband and wireless services, residential and business video services, and Sky-branded entertainment television networks.


[User] What role did Ms. O'Brien serve in before becoming the Deputy Chief Risk Officer?

[Assistant] Division President, North America Personal Risk Services


[User] What positions did Juan Luis Ortega hold at Chubb between 2016 and 2019?

[Assistant] Senior Vice President, Chubb Group and Regional President of Latin America


[User] When was Joseph F. Wayland appointed as General Counsel and Secretary of Chubb Limited?

[Assistant] July 2013


[User] Under which item can Note 14 i) associated with Legal Proceedings be found?

[Assistant] Item 8


[User] What are the primary sources from which the company's insurance and reinsurance operations generate gross revenues?

[Assistant] Premiums and investment income.


[User] What makes the company's product and geographic diversification unique compared to most competitors?

[Assistant] It has been a source of stability during periods of industry volatility.


[User] What key attributes are encompassed in the company's forward-looking statements?

[Assistant] Expectations about future events and financial performance, described using terms like 'believe,' 'anticipate,' and 'expect.'.


[User] What are the different types of reserves that are considered most subjective and complex for estimation according to a certain financial analysis?

[Assistant] The most subjective and complex reserves to estimate include unpaid loss and loss expense reserves, future policy benefits reserves, value of business acquired (VOBA), risk transfer assessment for certain structured insurance and reinsurance contracts, reinsurance recoverable valuation, investment portfolio valuation, deferred income tax valuation, and goodwill impairment assessment.


[User] How are unpaid losses and loss expenses calculated in the financial statements of an insurance and reinsurance company?

[Assistant] Unpaid losses and loss expenses are calculated based on estimated unpaid portions of liabilities for losses under insurance policies and agreements, considering reported but unpaid claims (case reserves), and claims incurred but not reported (IBNR). This process involves significant judgment and estimation, and the reserves are not discounted for time value of money except for structured settlements and certain claims where timing and amount are predictable.


[User] What are the key factors that contribute to the uncertainty in establishing loss reserves for property and casualty insurance claims?

[Assistant] The key factors contributing to uncertainty in loss reserve estimates for property and casualty insurance include long-tail risk characteristics, the need for informed judgments based on current circumstances, the use of historical loss data and actuarial methods, and external factors like inflation and legal changes. These uncertainties are exacerbated by events such as heightened inflation and potential impacts from climate change.


[User] What were the main events contributing to catastrophe losses in 2023?

[Assistant] U.S. flooding, hail, tornadoes, and wind events


[User] How did the net premiums written for the Europe, Middle East, and Africa region change from 2021 to 2023?

[Assistant] The net premiums written for this region increased from $5,242 million in 2021 to $5,713 million in 2023.


[User] What factors contributed to the increase in net premiums written in 2023?

[Assistant] The increase was primarily driven by growth in commercial and consumer lines, consolidation of Huatai Group's P&C business, and acquisition of Cigna's business in Asia.


[User] What major weather events contributed to the increase in losses reported in 2023?

[Assistant] Hurricane Idalia and other severe weather-related events in the U.S. contributed to the increase in losses reported in 2023.


[User] What acquisitions did the Life Insurance segment include in 2023?

[Assistant] In 2023, the Life Insurance segment included 100 percent of the results of Huatai Group's life and asset management business as required under consolidation accounting.


[User] What comprised the Cigna integration expenses for 2023?

[Assistant] The Cigna integration expenses for 2023 amounted to $69 million and primarily consisted of legal and professional fees and other costs directly associated with the integration activities of the Cigna acquisition.


[User] What components are excluded from segment income definition according to company management?

[Assistant] The company management excludes integration expenses related to acquisitions, such as the Cigna acquisition, from the definition of segment income, as these costs are not related to ongoing business operations of the segments and are managed independently by the Chief Executive Officer.


[User] What adjustments are made to the P&C combined ratio to exclude catastrophe losses and prior period development?

[Assistant] The combined ratio is adjusted by excluding catastrophe losses, prior period development, net premiums earned adjustments, prior period expense adjustments, and reinstatement premiums from both the numerator and the denominator.


[User] Why does the company exclude catastrophe losses and prior period development from the P&C combined ratio?

[Assistant] The company excludes catastrophe losses and prior period development from the P&C combined ratio because they are not predictable in terms of timing and amount, and do not reflect the current underwriting performance.


[User] How is the reinstatement premium on certain reinsurance agreements calculated?

[Assistant] The reinstatement premium on certain reinsurance agreements is calculated as a pro rata portion of the original ceded premium based on how much of the reinsurance limit had been exhausted.


[User] What are the principal revenue sources for Palantir as of the end of 2023?

[Assistant] As of the end of 2023, Palantir's principal revenue sources included 55% from government customers and 45% from commercial customers.


[User] How does the company integrate large language models with its software platforms?

[Assistant] The company integrates large language models (LLMs) with its existing software platforms, Gotham and Foundry, to help connect AI to enterprise data. This integration is aimed at facilitating decision-making within the constraints required by the users.


[User] How does the company define a 'customer' for its financial reporting?

[Assistant] The company defines a customer as an organization from which it has recognized revenue during the trailing twelve-month period. This includes treating separate divisions or units of larger agencies that have independent contracts as individual customers.


[User] What was the percentage of revenue derived from government and commercial customers in the year ended December 31, 2023?

[Assistant] In the year ended December 31, 2023, 55% of the company's revenue came from government customers, while 45% came from commercial customers.


[User] What is the significance of the company's focus on fiscal year-to-year comparisons in its Annual Report?

[Assistant] The focus on year-to-year comparisons in fiscal years, such as 2023 and 2022, helps in assessing the company’s financial trends and development over the years, providing a clear picture of growth, challenges, and areas needing improvement.


[User] How are the adjusted income from operations and gross profit figures calculated for the company?

[Assistant] The adjusted income from operations and gross profit figures for the company are calculated by excluding stock-based compensation and related employer payroll taxes from the reported income from operations and gross profit values.


[User] What is the definition of Total Remaining Deal Value in financial reporting?

[Assistant] Total remaining deal value refers to the total remaining value of contracts that have been entered into or awarded by a company's customers as of the end of the reporting period, assuming the exercise of all available contract options and no termination of contracts.


[User] How much did the Total Remaining Deal Value of contracts with commercial customers increase from December 31, 2022, to December 31, 2023?

[Assistant] The Total Remaining Deal Value of contracts with commercial customers increased from $2.0 billion as of December 31, 2022, to $2.1 billion as of December 31, 2023, representing a 7% increase.


[User] What factors contribute to the variability of the Total Remaining Deal Value?

[Assistant] The Total Remaining Deal Value may change due to the majority of contracts being subject to termination provisions, the potential non-exercise of contracts options by customers, and ongoing assessments of customer's financial conditions which might affect the value of certain commercial contracts for revenue recognition.


[User] How does proximity to business and industry partners enhance product development?

[Assistant] Proximity to business and industry partners enhances product and business development efforts by enabling better access to platforms and fostering growth with new partners, thereby broadening the customer base and improving business strategies.


[User] What was the foreign exchange effect on APAC's revenues in 2023?

[Assistant] The foreign exchange effect on APAC's revenues was an unfavorable $1,759 million in 2023.


[User] What contributed to the increase in Google Services' operating income in 2023?

[Assistant] The increase was primarily driven by a rise in revenues, offset by higher content acquisition costs and compensation expenses, including an increase in SBC expense.


[User] What factors drove the increase in operating income for Google Cloud in 2023?

[Assistant] Increased revenues and a reduction in costs due to the change in the estimated useful lives of servers and network equipment.


[User] By how much did the operating loss for Other Bets decrease from 2022 to 2023?

[Assistant] Decreased by $541 million


[User] What was the main reason for the increase in OI&E, net from 2022 to 2023?

[Assistant] Primarily due to fluctuations in the value of equity securities and increased interest income.


[User] How much did the total operating lease assets amount to at the end of the year 2022?

[Assistant] $4.4 billion


[User] What were the total operating lease expenses for the year ended December 31, 2023?

[Assistant] $4.5 billion


[User] What was the value of senior unsecured notes outstanding as of December 31, 2023?

[Assistant] $12.9 billion


[User] What factors can indicate a need to change the period over which a company benefits from its assets?

[Assistant] Changes to ongoing business operations, changes in the planned use and utilization of assets, or technological advancements can indicate a need to change the period over which a company benefits from its assets.


[User] What considerations are involved in recording an uncertain tax position?

[Assistant] Recording an uncertain tax rights involves various qualitative considerations including evaluation of comparable and resolved tax exposures, applicability of tax laws, and likelihood of settlement.


[User] What is the definition of demand creation expense for NIKE?

[Assistant] Demand creation expense for NIKE consists of advertising and promotion costs, including costs of endorsement contracts, complimentary product, television, digital and print advertising and media costs, brand events, and retail brand presentation.


[User] What is the effective date for the fifteen percent minimum tax based on adjusted financial statement income as specified in the Inflation Reduction Act of 2022?

[Assistant] The fifteen percent minimum tax based on adjusted financial statement income is effective for NIKE beginning June 1, 2023.


[User] How does NIKE expect the new tax law changes from the Inflation Reduction Act of 2022 to impact its financial statements?

[Assistant] NIKE does not expect the tax law changes from the Inflation Reduction Act of 2022 to have a material impact on its financial statements.