[User] What financial measure is primarily used by NIKE to evaluate performance?

[Assistant] Earnings Before Interest and Taxes (EBIT) is the primary financial measure used by NIKE to evaluate performance.


[User] What was the percentage change in NIKE's North America footwear revenues from fiscal 2022 to fiscal 2023 excluding currency changes?

[Assistant] The percentage change in NIKE's North America footwear revenues from fiscal 2022 to fiscal 2023 excluding currency changes was 22%.


[User] What major legislative act mentioned in the text was enacted by the U.S. government on August 16, 2022?

[Assistant] The Inflation Reduction Act of 2022 was enacted by the U.S. government on August 16, 2022.


[User] What segment of NIKE's business is used to describe the company's internal organizational structure?

[Assistant] NIKE's operating segments, defined by geographic regions for operations participating in NIKE Brand sales activity, describe the company's internal organizational structure.


[User] What was reported as the percentage revenue increase for the Asia Pacific & Latin America segment of NIKE from fiscal 2022 to fiscal 2023?

[Assistant] The revenue increase for the Asia Pacific & Latin America segment of NIKE from fiscal 2022 to fiscal 2023 was 8% excluding currency changes.


[User] What factors primarily contributed to the 9% growth in apparel revenues on a currency-neutral basis?

[Assistant] The 9% growth in apparel revenues on a currency-neutral basis was primarily due to higher revenues in Men's, an increase in unit sales by 7%, and a higher average selling price (ASP) per unit, which contributed approximately 2 percentage points to the revenue growth.


[User] How did higher ASP per unit influence the reported EBIT increase?

[Assistant] The reported EBIT increase of 7% was influenced by higher ASP per unit, which resulted from higher full-price ASP and growth in NIKE Direct. However, this increase was partially offset by lower NIKE Direct ASP due to increased promotional activity.


[User] What is the goal of Click to Pay?

[Assistant] Click to Pay aims to make digital payments as secure, reliable, and interoperable as face-to-face transactions by providing a simplified and consistent checkout experience online.


[User] What services does Visa DPS provide?

[Assistant] Visa DPS offers issuer processing for Visa debit transactions, fraud mitigation, dispute management, data analytics, campaign management, digital solutions, and contact center services.


[User] What are some of the initiatives managed by Visa for supporting underrepresented communities?

[Assistant] Visa manages initiatives such as She’s Next, Empowered by Visa, and the Africa Fintech Accelerator Program to support underrepresented communities.


[User] What was the main reason for Visa to engage in mergers and acquisitions, joint ventures, and strategic investments?

[Assistant] Visa engages in mergers and acquisitions, joint ventures, and strategic investments to augment capabilities, provide value to clients, and enhance partnerships in alignment with its priorities.


[User] What factors does Visa consider when analyzing business opportunities such as acquisitions or investments?

[Assistant] Visa applies rigorous business analysis to ensure that acquisitions, joint ventures, and investments will differentiate its network, provide value added services, and accelerate growth.


[User] What are the primary forms of payment that Visa competes against?

[Assistant] Visa competes against all forms of payment including paper-based payments like cash and checks, and all forms of electronic payments.


[User] Who are Visa's principal competitors in the electronic payments industry?

[Assistant] Visa's principal competitors in the electronic payment space include global or multi-regional networks like American Express, Discover, JCB, Mastercard, and UnionPay.


[User] What are some examples of alternative payments providers and how do they compete with Visa?

[Assistant] Examples of alternative payments providers include closed commerce ecosystems, BNPL solutions, and cryptocurrency platforms. They compete with Visa by offering payments through ecommerce and mobile channels and might use in-house transfers, electronic funds transfer networks like ACH, or networks like Visa.


[User] In what ways does Visa utilize its network strategy to maintain a competitive edge?

[Assistant] Visa utilizes its network of networks strategy to facilitate the movement of money, helping to maintain its competitive edge in the global payments industry.


[User] What laws and regulations is a global payments technology company subject to?

[Assistant] A global payments technology company is subject to anti-corruption laws such as the U.S. Foreign Corrupt Practices Act and the UK Bribery Act, anti-money laundering regulations like the U.S. Bank Secrecy Act, anti-terrorism laws, and economic and trade sanctions administered by the Office of Foreign Assets Control.


[User] What was the financial impact of the non-cash NCM exhibitor services agreement?

[Assistant] The non-cash NCM exhibitor services agreement involved receiving common membership units from NCM in exchange for exclusive theater screen access, recognized due to the extended period between receiving these units and fulfilling the performance obligation.


[User] How much did the equity in earnings from AC JV, LLC contribute to the 2023 annual results?

[Assistant] $4.9 million


[User] What were the results of investment activities in Saudi Cinema Company LLC in 2023?

[Assistant] The investment activities resulted in a $15.5 million gain from the sale of the investment and a $6.6 million decline in the estimated fair value of common shares.


[User] What approach is used to estimate the fair value of Domestic and International Theatres' reporting units?

[Assistant] The income approach for enterprise valuation, which utilizes estimated future discounted cash flows.


[User] What does the qualitative assessment of goodwill consider regarding possible impairment?

[Assistant] It considers estimates and assumptions about industry and market conditions, expected cost pressures, expected financial performance, and general macroeconomic conditions.


[User] How is the residual value in the income approach valuation defined?

[Assistant] The residual value represents the present value of projected cash flows beyond the discrete projection period.


[User] When were the most recent qualitative assessments for goodwill impairment performed?

[Assistant] The most recent qualitative assessments were performed for the years ended December 31, 2023, 2022, and 2021.


[User] What was the percentage decrease in rental costs for the U.S. markets from 2022 to 2023?

[Assistant] 2.3%


[User] What was the percentage increase in food and beverage costs for the company in 2023 compared to 2022?

[Assistant] 41.7%


[User] How much did general and administrative expenses related to merger, acquisition, and other costs change from 2022 to 2023?

[Assistant] Decreased by 37.0%


[User] As of August 26, 2023, how many stores does the company operate in Mexico?

[Assistant] The company operates 740 stores in Mexico.


[User] What type of software is sold through the website alldata.com?

[Assistant] The website alldata.com sells the ALLDATA brand of automotive diagnostic, repair, collision, and shop management software.


[User] What percentage of the company's sales categories in fiscal 2023 were failure and maintenance related?

[Assistant] Approximately 85% of the company's sales categories were related to failure and maintenance in fiscal 2023.


[User] How has the average age of light vehicles on the road in the U.S. changed by January 1, 2023?

[Assistant] As of January 1, 2023, the average age of light vehicles on the road was 12.5 years.


[User] What were the excess tax benefits from stock option exercises in 2023, 2022, and 2021?

[Assistant] The excess tax benefits from stock option exercises for 2023, 2022, and 2021 were $92.2 million, $63.2 million, and $56.4 million respectively.


[User] How does the constant currency same store sales computation exclude the impact of foreign exchange rate fluctuations?

[Assistant] The constant currency same store sales are computed by converting both the current year and prior year international results at the prior year's foreign currency exchange rate.


[User] What was the inception date for the company's adoption of ASU 2016-02, Leases (Topic 842)?

[Assistant] The company adopted ASU 2016-02, Leases (Topic 842), beginning with its first quarter ended November 23, 2019.


[User] What is the formula used to calculate inventory turnover?

[Assistant] Inventory turnover is calculated as the cost of sales divided by the average merchandise inventory balance over the trailing 5 quarters.


[User] How is after-tax return on invested capital defined and calculated for fiscal 2019?

[Assistant] After-tax return on invested capital for fiscal 2019 is defined as after-tax operating profit (excluding rent charges) divided by invested capital, where invested capital includes a factor to capitalize leases. The after-tax operating profit was also adjusted for the average revaluation of deferred tax liabilities, net of repatriation tax.


[User] How is adjusted debt to EBITDAR calculated?

[Assistant] Adjusted debt to EBITDAR is calculated as the sum of total debt, finance lease obligations, and annual rents times six, divided by net income plus interest, taxes, depreciation, amortization, rent, and share-based compensation expense.


[User] What was the total amount ordered for the Company and other defendants to pay in the judgment from the opioid dispensing claim trial concluded on August 17, 2022?

[Assistant] $651 million


[User] When did the injunctive relief ordered in the MDL concerning prescription opiates go into effect?

[Assistant] February 20, 2023


[User] What is the nature of the lawsuit filed by the U.S. Department of Justice against the Company in December 2020?

[Assistant] Violations of the Controlled Substances Act related to nationwide distribution and dispensing of opioids


[User] What kind of claims are involved in the securities and derivative litigation against the Company listed in the document?

[Assistant] Breach of fiduciary duties and violations of Sections 10(b) and 20(a) of the Securities Exchange Act related to opioids dispensing and distribution.


[User] When was the first securities class action filed against the Company mentioning opioids-related disclosures?

[Assistant] January 20, 2021


[User] What financial results are discussed in the management's discussion and analysis for Walmart's fiscal years 2023, 2022, and 2021?

[Assistant] The management's discussion and analysis discusses the financial results of the fiscal years ended January 31, 2023, January 31, 2022, and January 31, 2021, which include segment operating income, comparable store and club sales, and other performance metrics.


[User] How does Walmart measure the results of its business segments?

[Assistant] Walmart measures the results of its business segments using each segment's operating income, including specific corporate overhead allocations, along with other performance metrics.


[User] What is Walmart's definition of comparable sales?

[Assistant] Walmart defines comparable sales as sales from stores and clubs open for the previous 12 months, including remodels, relocations, expansions, and conversions, as well as eCommerce sales, but excluding sales at stores that have changed in format when accompanied by a relocation or expansion that changes the store's retail square feet by more than five percent.


[User] What significant transactions did Walmart complete over the last three years as part of its strategic actions?

[Assistant] Over the last three years, Walmart completed the sale of Walmart Argentina in November 2020, the sale of Asda in February 2021, and the sale of Seiyu in March 2021, among other strategic actions.


[User] How do you calculate the average invested capital based on the account balance at the end of current and prior periods?

[Assistant] The average invested capital is calculated by adding the account balance at the end of the current period to the account balance at the end of the prior period and then dividing by 2.


[User] Where can information about AbbVie's Equity, Equality, Diversity, and Inclusion efforts be found?

[Assistant] Information about AbbVie's Equity, Equality, Diversity, and Inclusion efforts can be found on the company's website.


[User] How does AbbVie ensure it realizes the full value of its workforce?

[Assistant] AbbVie ensures it realizes the full value of its workforce from recruitment through retirement.


[User] Are AbbVie's corporate governance materials available to the public, and if so, where?

[Assistant] Yes, AbbVie's corporate governance materials are available to the public on AbbVie's investor relations website.


[User] What reports about AbbVie are available for free on their investor relations website?

[Assistant] Copies of AbbVie's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and amendments to those reports are available for free on their investor relations website.


[User] How quickly are filed reports available on AbbVie's investor relations website after submission to the SEC?

[Assistant] Filed reports are available on AbbVie's investor relations website as soon as reasonably practicable after submission to the SEC.


[User] How is the information in Note 15 presented in relation to the document?

[Assistant] It is incorporated by reference.


[User] What is the relation of Note 15 to Item 8 in the document?

[Assistant] Note 15 is included under Item 8.


[User] What was AbbVie's strategy for achieving its financial performance in 2023?

[Assistant] AbbVie's strategy in 2023 focused on maximizing the benefits of a diversified revenue base, advancing and investing in its pipeline, delivering strong financial results, and returning value to shareholders while ensuring sustainable growth over the long term.


[User] What are the key elements of AbbVie's strategic objectives for 2024?

[Assistant] AbbVie's 2024 strategic objectives include maximizing the benefits of a diversified revenue base with multiple growth drivers, leveraging commercial strength across therapeutic areas, continuing investment in the pipeline and key on-market products, and managing regulatory, market, and competitive challenges effectively.


[User] In what year was the Select-SLE study initiated by AbbVie to evaluate Rinvoq for systemic Lupus Erythematosus?

[Assistant] 2023


[User] What entities are included among the Guarantors that guarantee each other’s debt securities as described in Comcast’s 2023 Annual Report?

[Assistant] Comcast, NBCUniversal, and Comcast Cable are the entities included among the Guarantors that guarantee each other's debt securities.


[User] What happens to the guarantee provided by NBCUniversal or Comcast Cable on Comcast’s debt securities upon a disposition of the Guarantor entity?

[Assistant] The guarantee on Comcast's debt securities provided by NBCUniversal or Comcast Cable will terminate upon a disposition of the Guarantor entity or all or substantially all of its assets.


[User] As of December 31, 2023, what is the amount of noncurrent notes payable to non-guarantor subsidiaries held by the Guarantors?

[Assistant] As of December 31, 2023, the Guarantors have noncurrent notes payable to non-guarantor subsidiaries totaling $136 billion.


[User] What are the key judgment areas identified in Comcast's assessment for impairment of goodwill and cable franchise rights?

[Assistant] The key judgment areas in Comcast's assessment for impairment of goodwill and cable franchise rights include the estimation of future cash flows, selection of discount rates, and considerations of market participant estimates.


[User] What is the frequency of conducting quantitative assessments for cable franchise rights as per the company's practice?

[Assistant] approximately once every four years


[User] What factors are considered in the qualitative assessment of the estimated fair values of cable franchise rights?

[Assistant] changes in projected future cash flows, recent market transactions, macroeconomic conditions, discount rates, and changes in market capitalization


[User] What is the predominant strategy for monetizing the company's substantial majority of owned film and television content?

[Assistant] on an individual basis


[User] What method is used to record amortization and costs for owned content that is predominantly monetized on an individual basis?

[Assistant] individual film forecast computation method


[User] What is the balance at the end of the year for Comcast's Total Equity in 2023?

[Assistant] $81,627


[User] How did Comcast organize its business segments in 2023?

[Assistant] In 2023, Comcast organized its business into two primary categories: Connectivity & Platforms, and Content & Experiences. Connectivity & Platforms was further divided into Residential Connectivity & Platforms and Business Services Connectivity, whereas Content & Experiences was segmented into Media, Studios, and Theme Parks.


[User] What does the Talent Management Equity Audit conducted by Chipotle involve?

[Assistant] The audit identifies areas in the talent management cycle to eliminate bias, create equitable policies, and assess potential blockers to equity.


[User] What key finding did the consultant report from the Talent Management Equity Audit at Chipotle?

[Assistant] The consultant concluded that Chipotle has a robust set of processes, practices, and policies for equitable talent recruiting, development, and retention, and identified opportunities to strengthen existing practices.


[User] In which section are the consolidated financial statements that include 'Commitments and Contingencies' located?

[Assistant] Item 8


[User] What was Chipotle Mexican Grill's total revenue for the year 2023?

[Assistant] $9,871,649


[User] How much did Chipotle Mexican Grill's food and beverage revenue increase from 2022 to 2023?

[Assistant] $1,246,123


[User] What were the total operating expenses for Chipotle Mexican Grill in 2023?

[Assistant] $8,313,836


[User] What was the basic earnings per share for Chipotle Mexican Grill in 2023?

[Assistant] $44.59


[User] What was the change in foreign currency translation adjustments reported by Chipotle Mexican Grill in 2023 compared to 2022?

[Assistant] $3,765


[User] How much did Chipotle Mexican Grill's depreciation and amortization expenses amount to in 2023?

[Assistant] $319,394


[User] What is the functional currency for a company's foreign entities?

[Assistant] The functional currency of a company's foreign entities is the currency of the primary economic environment in which the entity operates.


[User] What are the revenue figures for United States, United Kingdom, and other regions for the year 2023 as stated in the financial summary?

[Assistant] United States: $94,375 million, United Kingdom: $13,364 million, Other regions: $13,833 million


[User] How is revenue recognized for subscription-based television networks under multiyear agreements?

[Assistant] Revenue for subscription-based television networks under multiyear agreements is recognized as programming is provided to subscribers.


[User] What was the total cash consideration for Comcast's acquisition of Masergy in October 2021?

[Assistant] $1.2 billion


[User] What changes were made to Comcast's investment agreement with Atairos in November 2020?

[Assistant] In November 2020, Comcast amended its agreement with Atairos by extending the investment term from 12 years to 16.5 years, allowing capital to be recycled throughout the full investment period, and decreasing the funding commitment from $5 billion to $4.5 billion. The maximum annual capital calls were also reduced to $400 million, plus certain amounts from previous distributions.


[User] What is the maximum borrowing limit of the debt financing provided by the syndicate of Chinese financial institutions for Universal Beijing Resort?

[Assistant] ¥29.7 billion RMB (approximately $4.2 billion)


[User] What was the total goodwill impairment recorded by Comcast in their Sky reporting unit in 2022?

[Assistant] $8.1 billion


[User] How many votes is each share of Class B common stock entitled to?

[Assistant] 15 votes


[User] Who audited Comcast Corporation's financial statements for the year ending December 31, 2023?

[Assistant] Deloitte & Touche LLP


[User] What critical audit matters were identified related to the revenue recognition in the Connectivity & Platforms businesses at Comcast in 2023?

[Assistant] The critical audit matters identified related to the revenue recognition in the Connectivity & Platforms businesses at Comcast included the complexity of processing and recording revenue through multiple IT systems, especially concerning the revenue from bundled services which required subjective auditor judgment on the sufficiency of audit evidence.


[User] What was the net cash provided by operating activities for Comcast Corporation in 2023?

[Assistant] $28,501 million


[User] What were the estimated costs of inventory for expected product returns as of May 31, 2023 and 2022, and how were these costs recorded on the Consolidated Balance Sheets?

[Assistant] The estimated costs of inventory for expected product returns were $226 million as of May 31, 2023, and $194 million as of May 31, 2022. These costs were recorded in Prepaid expenses and other current assets on the Consolidated Balance Sheets.


[User] What is the foundational goal behind the software developed by Palantir?

[Assistant] Palantir develops software to empower organizations to integrate their data, decisions, and operations effectively at scale.


[User] When was Palantir founded and for what initial purpose?

[Assistant] Palantir was founded in 2003 with the initial purpose of building software for the U.S. intelligence community to assist in counterterrorism investigations and operations.


[User] What type of software solutions did Palantir later provide to commercial enterprises?

[Assistant] Palantir later provided software solutions to commercial enterprises to help them manage similar challenges they faced in dealing with data.


[User] Name the four principal software platforms developed by Palantir.

[Assistant] The four principal software platforms developed by Palantir are Palantir Gotham, Palantir Foundry, Palantir Apollo, and Palantir Artificial Intelligence Platform.


[User] What capabilities does the Palantir AIP platform offer to organizations?

[Assistant] The Palantir AIP platform offers capabilities to integrate AI with decision-making processes within enterprise data and operations, tailored to fit legal, ethical, and security standards required by users.


[User] When was Apollo offered as a commercial solution, and what is its primary function?

[Assistant] Apollo was offered as a commercial solution beginning in 2021, and its primary function is to serve as a cloud-agnostic, single control layer that coordinates the delivery of new features, security updates, and platform configurations.


[User] How does Gotham platform assist its users?

[Assistant] The Gotham platform assists its users by enabling them to identify patterns hidden within datasets, facilitating the hand-off between analysts and operational users to plan and execute real-world responses to identified threats.


[User] What functionality does the Foundry platform provide to organizations?

[Assistant] The Foundry platform provides a central operating system for data within organizations, allowing users to integrate and analyze data in one place, thereby accelerating the speed at which new ideas can be tested and implemented.


[User] What is the primary target of Palantir's customer acquisition strategy?

[Assistant] Palantir's primary target in its customer acquisition strategy is to engage large-scale, complex, and technology-intensive opportunities at major government and commercial institutions.


[User] What are the new operating segments created by CVS Health Corporation in 2023?

[Assistant] In 2023, CVS Health Corporation created two new operating segments: Health Services and Pharmacy & Consumer Wellness.


[User] How many retail locations does CVS Health Corporation operate as of December 31, 2023?

[Assistant] As of December 31, 2023, CVS Health Corporation operates over 9,000 retail locations.


[User] What acquisitions did CVS Health Corporation complete in 2023 to enhance their care delivery strategy?

[Assistant] In 2023, CVS Health Corporation acquired Signify Health, Inc. and Oak Street Health, Inc. to enhance their ability to execute on their care delivery strategy.


[User] What type of accreditation has Aetna Life Insurance Company received for its PPO Health Plan as of December 31, 2023?

[Assistant] Nationwide NCQA PPO Health Plan accreditation


[User] What percentage of the Company's consolidated total revenues from the federal government in 2023 came from contracts with CMS for coverage of Medicare-eligible individuals?

[Assistant] 73%


[User] What methods does the Company use to encourage appropriate utilization of medical services?

[Assistant] The Company uses contracts with providers for negotiated rates of reimbursement, risk-sharing arrangements that align economic incentives with providers, the development and implementation of guidelines for appropriate utilization, and providing data to providers to improve health care quality.


[User] What is the relationship between a Medicare Advantage plan's reimbursement and its star ratings according to CMS?

[Assistant] A portion of each Medicare Advantage plan's reimbursement is tied to the plan's star ratings, with plans requiring a rating of 4 or higher to qualify for bonus payments.


[User] How are Medicare Supplement product rates determined?

[Assistant] Rates for Medicare Supplement products are regulated at the state level and vary by state and plan.


[User] What factors affect the Company's ability to increase Health Care Benefits segment revenues?

[Assistant] The ability to increase Health Care Benefits segment revenues is influenced by factors such as overall quality, service quality, cost, product design, financial stability, provider network breadth and quality, and member support and care management programs.


[User] What is the primary goal of value-based care according to the company?

[Assistant] The primary goal of value-based care is to incentivize healthcare providers to simultaneously increase the quality of care while lowering the cost of care for patients.


[User] What was the total value of inventories in 2023 for Machinery, Energy & Transportation?

[Assistant] $16,565 million


[User] What is the purpose of eliminating ME&T's insurance premiums that are prepaid to Financial Products in the financial records?

[Assistant] The elimination of ME&T's prepaid insurance premiums to Financial Products is done to prevent double-counting in the financial records.


[User] Why are deferred tax assets and liabilities netted by taxing jurisdiction in financial reporting?

[Assistant] Deferred tax assets and liabilities are netted by taxing jurisdiction to reflect a more accurate picture of the company's actual tax liability considering the specific tax regulations of each jurisdiction.


[User] What does the elimination of payables between ME&T and Financial Products signify in their financial records?

[Assistant] The elimination of payables between ME&T and Financial Products indicates the clearing of internal transactions to prevent them from inflating the overall financial figures of the company.


[User] How does reclassifying Financial Products' payables to accrued expenses or customer advances affect the financial statements?

[Assistant] Reclassifying Financial Products' payables into accrued expenses or customer advances repositions liabilities to better reflect their nature and timing, thus providing a more precise financial representation.


[User] What was the total net cash provided by (used for) financing activities for the company?

[Assistant] $(6,932)


[User] What was the total payment on debt with original maturities greater than three months for a company?

[Assistant] $(6,318)


[User] What criteria did Caterpillar Inc. use to assess the effectiveness of its internal control over financial reporting as of December 31, 2023?

[Assistant] Caterpillar Inc. used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control—Integrated Framework (2013).


[User] What was the profit per common share for Caterpillar Inc. in 2023?

[Assistant] $20.24


[User] How much was the profit from consolidated and affiliated companies in 2023 as reported in the financial statements?

[Assistant] $10,332 million


[User] What are DaVita Inc.'s goals for patients with chronic kidney disease prior to Stage 5?

[Assistant] DaVita Inc.'s goals for patients with chronic kidney disease prior to Stage 5 are to manage and slow the progression of the disease in order to preserve kidney functionality.


[User] How many physicians are part of the domestic Office of the Chief Medical Officer at DaVita as of December 31, 2023?

[Assistant] As of December 31, 2023, DaVita's domestic Office of the Chief Medical Officer consists of 22 nephrologists.


[User] What were the compound annual growth rates for the ESKd patient population from 2011 to 2021 and from 2016 to 2021?

[Assistant] The compound annual growth rates for the ESKD patient population were 3.3% from 2011 to 2021 and 3.4% from 2016 to 2021.


[User] What factors may impact the growth rates of the ESKD patient population?

[Assistant] Factors that may impact the growth rates of the ESKD patient population include mortality rates for dialysis patients or CKD patients, the aging of the U.S. population, transplant rates, incidence rates for diseases that cause kidney failure such as diabetes and hypertension, and growth rates of minority populations with higher than average incidence rates of ESKD.


[User] What are the primary treatment options available for ESKD?

[Assistant] The primary treatment options for ESKD are dialysis and kidney transplantation.


[User] What are the types of dialysis available for ESKD patients and how often is hemodialysis typically performed?

[Assistant] The types of dialysis available for ESKD patients are hemodialysis and peritoneal dialysis. Hemodialysis is usually performed three times per week.


[User] What percentage of U.S. dialysis patient service revenues in 2023 came from Medicare and Medicare Advantage plans?

[Assistant] 56%


[User] What was the total percentage of U.S. dialysis patient service revenues coming from government-based programs in 2023?

[Assistant] 67%


[User] How much did the overall impact of the CMS final rule issued in October 2023 increase ESRD facilities’ average reimbursement for 2024?

[Assistant] 2.1%


[User] How long can a patient with commercial insurance have Medicare as a secondary payor before it becomes the primary payor for dialysis services?

[Assistant] 33 months


[User] What are the major factors that contributed to the $621 million increase in corporate's loss before interest and taxes during fiscal 2023?

[Assistant] The major factors included higher wage and other professional services expenses, differences between actual and standard foreign currency exchange rates, net unfavorable activity related to strategic distributor partnership transition, and net foreign currency gains and losses.


[User] How does Nike manage its foreign currency risk?

[Assistant] Nike manages its foreign currency risk by taking advantage of natural offsets and currency correlations within the portfolio, and where practical, by hedging a portion of the exposures using derivative instruments such as forward contracts and options.


[User] How did the foreign exchange rate fluctuations impact Nike's consolidated revenues in fiscal 2023?

[Assistant] The impact of foreign exchange rate fluctuations on the translation of Nike's consolidated revenues was detrimental by approximately $2,859 million in fiscal 2023.


[User] What is the effect of a stronger U.S. Dollar on Nike's product costs?

[Assistant] A stronger U.S. Dollar increases Nike's product costs.


[User] How did foreign exchange rate fluctuations impact the company's consolidated revenues and income before income taxes for the fiscal years ended May 31, 2023, 2022, and 2021?

[Assistant] Foreign exchange rate fluctuations had a negative impact on the company's consolidated revenues by approximately $2,859 million in 2023, $295 million in 2022, and positively by $893 million in 2021. Similarly, for income before income taxes, the impact was a detriment of approximately $824 million in 2023, $87 million in 2022, and a benefit of $260 million in 2021.


[User] What strategies does the company employ to manage translational exposures from foreign currencies?

[Assistant] The company uses excess cash from certain foreign subsidiaries to purchase U.S. Dollar denominated available-for-sale investments, which helps minimize the impact of translating foreign currency denominated revenues and expenses. Additionally, they utilize forward contracts and/or options to mitigate the variability of forecasted future purchases and sales of these investments.


[User] How has the company approached the management of foreign exchange risks related to net investments in foreign subsidiaries?

[Assistant] The company has used hedges to mitigate the effects of foreign exchange fluctuations on net investments in foreign subsidiaries. These hedges are managed as net investment hedges in accordance with U.S. GAAP.


[User] What were the changes in cash flow from investing activities for the fiscal years 2023 and 2022, and what drove these changes?

[Assistant] Cash flow from investing activities showed an inflow of $564 million in 2023, compared to an outflow of $1,524 million in 2022. These changes were primarily driven by the net changes in short-term investments.


[User] What were the key factors affecting the company's cash flow from operations in fiscal 2023?

[Assistant] In fiscal 2023, the cash flow from operations was influenced by a net change in working capital and other assets and liabilities, which resulted in a decrease of $513 million. This was impacted by unfavorable changes in accounts payable, offset by favorable impacts from inventories and accounts receivable.


[User] What is the company's current position regarding borrowings as of May 31, 2023?

[Assistant] As of May 31, 2023, the company did not have any borrowings outstanding under its $3 billion program.


[User] What position has Daniel C. Janki held at Delta since July 2021?

[Assistant] Executive Vice President - Chief Financial Officer


[User] What role did John E. Laughter assume at Delta in October 2023?

[Assistant] President - Delta TechOps and Chief of Operations


[User] What previous roles did Mike Spanos hold before becoming the Chief Operating Officer of Delta in June 2023?

[Assistant] President and Chief Executive Officer of Six Flags Entertainment Corporation, Chief Executive Officer for PepsiCo in the Asia, Middle East, and North Africa regions


[User] How long did Joanne D. Smith serve as the Vice President - Marketing at Delta?

[Assistant] From November 2005 to February 2007


[User] What was Rahul Samant's role at American International Group, Inc. prior to joining Delta?

[Assistant] Senior Vice President and Chief Digital Officer


[User] Where can Delta's Annual Report and other investor relations materials be accessed?

[Assistant] On Delta's investor relations website at ir.delta.com


[User] What allegations did the class action antitrust lawsuits filed in July 2015 against Delta, American, United, and Southwest involve?

[Assistant] The allegations involved claims that Delta, American, United, and Southwest had conspired to restrain capacity.


[User] What action did the U.S. Department of Justice take in relation to the antitrust allegations against Delta, American, United, and Southwest airlines?

[Assistant] The U.S. Department of Justice served civil investigative demands on the airlines seeking documents and information regarding the alleged conspiracy to restrain capacity.


[User] Where was the consolidated Multi-District Litigation proceeding held regarding the airline capacity antitrust litigation?

[Assistant] The consolidated Multi-District Litigation proceeding was held in the U.S. District Court for the District of Columbia.


[User] What judicial decision occurred in August 2023 regarding the antitrust lawsuits against the airlines?

[Assistant] In August 2023, the Court denied the defendants' motions for summary judgment that had been pending for over two years.


[User] What purpose does the 'Index to Financial Statement Schedules' serve?

[Assistant] It provides a guide or reference to the organizational structure and content of the financial statement schedules.


[User] What content can be expected under Part IV Item 15 in a financial report?

[Assistant] Part IV Item 15 contains the Exhibits, Financial Statement Schedules.


[User] What is the total number of countries and territories served by Delta and its alliance partners as of 2023?

[Assistant] Over 130


[User] How many destinations does Delta Air Lines offer flights to as of the end of 2023?

[Assistant] More than 280


[User] What was Delta Air Lines' total profit sharing payments to employees in 2023?

[Assistant] $1.4 billion


[User] What award did Delta Air Lines receive in January 2024 for operational excellence?

[Assistant] The Cirium Platinum Award


[User] How many new aircraft did Delta Air Lines take delivery of in 2023?

[Assistant] 43


[User] What are the estimated percentage improvements in fuel efficiency per seat mile for Delta's new aircraft delivered since 2019 compared to retired ones?

[Assistant] 28%


[User] How can members of a loyalty program earn and redeem miles?

[Assistant] Members can earn miles through services offered by various partner airlines and companies, and redeem them for flights, upgrades, charitable donations, and other benefits.


[User] What was the remuneration from Delta Air Lines' partnership with American Express in 2023, and what is the growth expectation for 2024?

[Assistant] The remuneration from Delta Air Lines' partnership with American Express in 2023 was $6.8 billion, with an expected growth of 10% in 2024.


[User] What are the factors contributing to higher costs in the supply of certain products?

[Assistant] Variability in demand for products, limited availability of competitor therapies, and tight supply due to limited manufacturing capacity are factors contributing to higher costs in the supply of certain products.


[User] How do public health outbreaks like the COVID-19 pandemic impact the distribution and manufacturing of medicines?

[Assistant] Public health outbreaks, epidemics, or pandemics like the COVID-19 pandemic can cause delays or disruptions in distribution, increase costs related to distributions and procurement, and impact the construction or acquisition of manufacturing capacity.


[User] What measures does the company take to ensure product quality?

[Assistant] The company employs strict control of ingredients, equipment, facilities, manufacturing methods, packaging materials, and labeling, performs various stages of testing during production, and involves quality assurance groups to audit and monitor pharmaceutical manufacturing procedures and systems.


[User] What are the roles and responsibilities of executive officers at the company?

[Assistant] Executive officers are responsible for the strategic leadership and operational management of the company, with their terms of office expiring on the date of the annual board meeting or when their successors are chosen and qualified.


[User] How does the company approach human capital management?

[Assistant] The company emphasizes integrity, excellence, and respect in its human capital management, focusing on diversity, equity, and inclusion, conducting employee surveys, and ensuring competitive pay and benefits to foster a high-performing and cohesive workforce.


[User] What factors contribute to disruptions in the supply chain of pharmaceutical products?

[Assistant] Factors such as consolidation in supply chains, labor market issues, international tensions, economic fluctuations, and increased demand for specific products and materials can contribute to supply chain disruptions in the pharmaceutical industry.


[User] What percentage of the executive committee were women at the end of 2023?

[Assistant] Approximately 31 percent


[User] How does the company view the importance of diversity, equity, and inclusion?

[Assistant] The company believes that promoting diversity, equity, and inclusion is a reflection of its values and a key driver of business success and growth.


[User] What methods does the company use to gauge employee satisfaction?

[Assistant] The company conducts confidential employee surveys to collect feedback on various topics.


[User] What initiatives does the company adopt to improve employee safety?

[Assistant] The company strives to establish a culture of best-in-class safety practices aimed at promoting the well-being of employees and safeguarding the community.


[User] What dictates the evaluation of indefinite-lived intangible assets for impairment?

[Assistant] The evaluation of indefinite-lived intangible assets for impairment is dictated by changes in events or circumstances that may indicate impairment exists, requiring either a qualitative assessment or a quantitative fair value calculation.


[User] What were the total net revenues for Starbucks Corporation in the fiscal year ending October 1, 2023?

[Assistant] The total net revenues for Starbucks Corporation in the fiscal year ending October 1, 2023, were $35,975.6 million.


[User] What is the total shareholder's deficit according to the latest financial statement?

[Assistant] The total shareholders' deficit is $7,994.8 million.


[User] What effects did the implementation of the Reinvention Plan have on the company's financial statements in fiscal years 2022 and 2023?

[Assistant] The Reinvention Plan led to the company recording restructuring and impairment costs of approximately $46 million in fiscal 2022 and about $22 million in fiscal 2023.


[User] What are the recorded amounts for cash collateral pledged as part of commodity derivative margin requirements on the consolidated balance sheets as of October 1, 2023 and October 2, 2022?

[Assistant] As of October 1, 2023, the cash collateral pledged was $20.6 million and as of October 2, 2022, it was $75.6 million.


[User] What methodology is used to test for impairment of ROU assets and how are they amortized for operating and finance leases?

[Assistant] ROU assets are tested for impairment in the same manner as long-lived assets. For operating leases, ROU assets are reduced over the lease term by the recognized straight-line lease expense less the amount of accretion of the lease liability determined using the effective interest method. For finance leases, ROU assets are amortized on a straight-line basis over the shorter of the useful life of the leased asset or the lease term. Interest expense on each finance lease liability is recognized using the effective interest method.


[User] What are the primary sources of breakage revenue for the company mentioned in the text?

[Assistant] The primary sources of breakage revenue for the company are company-operated stores and licensed stores.


[User] How does Starbucks recognize the interest and penalties related to income tax matters on their financial statements?

[Assistant] Starbucks recognizes interest and penalties related to income tax matters as income tax expense on their consolidated statements of earnings. Accrued interest and penalties are included within the related tax balances on the consolidated balance sheets.


[User] What happens to the accumulated gains or losses from de-designated cash flow hedges if the underlying transactions are no longer probable of occurring?

[Assistant] The accumulated derivative gains or losses from de-designated cash flow hedges are recognized in interest income and other, net on the consolidated statements of earnings, if the underlying transactions are no longer probable of occurring.


[User] What were the carrying amounts of the hedged item and the cumulative amounts of fair value hedging adjustments included in the carrying amount for fixed-to-floating interest rate swaps on October 1, 2023 and October 2, 2022?

[Assistant] The carrying amounts of the hedged item related to fixed-to-floating interest rate swaps were $1,060 million on October 1, 2023, and $1,047.7 million on October 2, 2022. The cumulative amounts of fair value hedging adjustments included in the carrying amount were $(40.0) million on October 1, 2023, and $(52.3) million on October 2, 2022.


[User] By what amount did Moody’s Investors Service upgrade AbbVie’s senior unsecured long-term credit rating in 2023?

[Assistant] From Baa1 to A3


[User] What was the total long-term debt, including the current portion, for AbbVie as of December 31, 2023?

[Assistant] $59,245 million


[User] What was the purpose stated by AbbVie for borrowing $5.0 billion under the term loan credit agreement on February 12, 2024?

[Assistant] The text does not specify the purpose for borrowing $5.0 billion under the term loan credit agreement on February 12, 2024.


[User] What were the ending balances for Medicaid and Medicare Rebates, Managed Care Rebates, and Wholesaler Chargebacks as of December 31, 2023?

[Assistant] The ending balances as of December 31, 2023 were $5,297 million for Medicaid and Medicare Rebates, $7,020 million for Managed Care Rebates, and $1,172 million for Wholesaler Chargebacks.


[User] What was the impact on net periodic benefit cost and projected benefit obligation from a 50 basis point change in the assumed discount rate for AbbVie's plans as of December 31, 2023?

[Assistant] A 50 basis point increase would decrease the net periodic benefit cost by $49 million and the projected benefit obligation by $674 million. Conversely, a 50 basis point decrease would increase the net periodic benefit cost by $70 million and the projected benefit obligation by $756 million.


[User] What were the total cash discounts provided by AbbVie in 2023, 2022, and 2021?

[Assistant] AbbVie provided cash discounts of $2.0 billion in 2023, $1.8 billion in 2022, and $1.6 billion in 2021.


[User] How do changes in the assumed long-term rate of return affect AbbVie's net periodic benefit cost for pension plans?

[Assistant] A one percentage point change in the assumed long-term rate of return would result in a $106 million increase or decrease in the net periodic benefit cost for AbbVie's pension plans in 2024.


[User] What triggers a quantitative impairment test for a company?

[Assistant] A quantitative impairment test is triggered if the company concludes that it is more likely than not that the fair value of an asset is less than its carrying amount.


[User] What method does the company use for quantitative impairment tests?

[Assistant] The company uses an estimated future cash flow approach for its quantitative impairment tests.


[User] What factors could change the projected cash flows and the estimated fair value of the company's assets?

[Assistant] Changes in future volume, revenue and expense growth rates, working capital use, and the selection of an appropriate discount rate can affect projected cash flows and asset valuations.


[User] What are the credit management units responsible for in relation to captive reinsurance companies?

[Assistant] Credit management units are responsible for determining reasonable exposure estimates (collateral calculations), ensuring receipt of collateral in an acceptable form, and coordinating collateral adjustments as necessary. They also evaluate the credit quality of the captive and their parent company.


[User] What roles are included in the composition of the Global Credit Committee?

[Assistant] The Global Credit Committee includes senior executives such as the Chief Financial Officer, Chief Risk Officer, Chief Investment Officer, and Treasurer.


[User] What statutory requirements must insurance and reinsurance subsidiaries meet in their domiciled jurisdictions?

[Assistant] Insurance and reinsurance subsidiaries are required to maintain minimum levels of statutory capital, surplus, and liquidity, meet solvency standards, and undergo periodic examinations of their financial condition.


[User] What is the primary regulatory authority for Chubb in Bermuda and what are its responsibilities?

[Assistant] The primary regulatory authority for Chubb in Bermuda is the Bermuda Monetary Authority (BMA), which has the power to supervise, investigate, and intervene in the affairs of insurance companies.


[User] What are the requirements for Bermuda domiciled subsidiaries under the Insurance Act regarding financial reporting?

[Assistant] Bermuda domiciled subsidiaries are required to prepare and file with the Bermuda Monetary Authority audited annual statutory financial statements and audited annual financial statements prepared in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP), International Financial Reporting Standards (IFRS), or other generally accepted accounting principles recognized by the BMA. Additionally, the U.S. GAAP audited financial statements must be made public.


[User] How does the Bermuda Solvency Capital Requirement (BSCR) influence capitalization for Bermuda insurers under the BMA?

[Assistant] The BSCR applies a standard measurement format to assess the risk associated with a Bermuda insurer's assets, liabilities, and premiums. It employs a mathematical model that correlates the risk underwritten to their capital. Bermuda insurers use the BSCR to calculate their solvency requirements, and it forms part of the statutory Economic Balance Sheet framework.


[User] What are the restrictions and requirements for Bermuda domiciled subsidiaries regarding the distribution of dividends under the Insurance Act?

[Assistant] Bermuda domiciled subsidiaries can only pay dividends of more than 25% of total statutory capital and surplus if they file with the BMA an affidavit signed by at least two directors, confirming continued compliance with solvency margins. Furthermore, dividends must come from retained earnings or contributed surplus, and the subsidiary must not be at risk of being unable to meet its liabilities post-distribution. Additionally, any reduction of total statutory capital by 15% or more requires prior BMA approval.


[User] What are the primary responsibilities of Chubb's Product Boards?

[Assistant] The primary responsibilities of Chubb's Product Boards include ensuring consistency in underwriting and pricing standards, identifying emerging issues, and setting guidelines for relevant risk accumulations.


[User] What role does Chubb's Chief Risk Officer play in the company's executive structure?

[Assistant] Chubb's Chief Risk Officer reports to the Board's Risk & Finance Committee, which helps execute the Board's supervisory responsibilities pertaining to Enterprise Risk Management (ERM).


[User] How does Chubb respond to the risks associated with climate change?

[Assistant] Chubb responds to climate change risks by ceding catastrophe risk through reinsurance and capital markets, managing asset concentrations in hurricane-and flood-exposed areas, and supporting the transition to a lower-carbon economy.


[User] What conclusion was made from the quantitative assessments of goodwill and indefinite-lived intangible assets in 2023?

[Assistant] The assessments concluded that there was no indication of impairment since the fair value of each asset exceeded its carrying value by at least 20%.


[User] How does a change in key assumptions potentially affect the determination of fair values of assets?

[Assistant] A change in key assumptions such as the discount rate or projected future revenues, expenses, and cash flows could materially affect the determination of fair values.


[User] What were the funded status and obligations of Delta's defined benefit pension plans as of December 31, 2023?

[Assistant] The unfunded benefit obligation was $145 million, which is the difference between the benefit obligation of $15.9 billion and plan assets of $15.8 billion.


[User] What is the impact of a 0.50% change in the weighted average discount rate on Delta's pension cost and accrued pension liability for 2023?

[Assistant] A 0.50% decrease in the discount rate would increase the pension cost by $5 million and the accrued pension liability by $742 million, while a 0.50% increase would decrease the pension cost by $1 million and the accrued pension liability by $685 million.


[User] What was the total adjusted revenue for Delta Air Lines in 2023?

[Assistant] $54,669 million


[User] What were the one-time pilot agreement expenses for Delta Air Lines in 2023?

[Assistant] $864 million


[User] How did Delta Air Lines adjust its fuel expenses for 2023?

[Assistant] Adjusted for MTM adjustments and settlements on hedges, resulting in a total adjusted fuel expense of $11,121 million.


[User] How much free cash flow did Delta Air Lines generate in 2023?

[Assistant] $2,003 million


[User] What significant accounting matter related to Delta Air Lines' employee benefit plans was addressed in the 2023 audit?

[Assistant] The significant accounting matter addressed was the estimation of the fair value of employee benefit plan assets, particularly those measured at Net Asset Value (NAV), which required significant judgment due to the lag in data availability from investment fund managers.


[User] How did Ernst & Young LLP address the valuation of Delta Air Lines' loyalty program in the 2023 audit?

[Assistant] Ernst & Young LLP addressed the valuation by evaluating the design of controls over the accounting of the loyalty program, testing the operating effectiveness of these controls, and particularly focusing on management's estimation of mileage breakage, which involved statistical modeling to predict future redemption patterns.


[User] What was the operating profit as a percent of sales and revenues in 2023?

[Assistant] 19.3 percent


[User] How much did the profit per share increase in 2023 compared to 2022 excluding specific items?

[Assistant] From $13.84 to $21.21 per share


[User] How much did Caterpillar's total sales and revenues increase by in 2023 compared to 2022?

[Assistant] $7.633 billion


[User] What was the primary driver for the increase in Caterpillar's sales and revenues in 2023?

[Assistant] The increase was primarily due to favorable price realization and higher sales volume.


[User] What impact is expected on Resource Industries' profit due to lower sales volume?

[Assistant] The profit impact from lower sales volume is expected to be partially offset by favorable price realization.


[User] What is the expected impact of higher manufacturing costs on Energy & Transportation's price realization in 2023?

[Assistant] The favorable price realization is anticipated to be offset by higher manufacturing costs.


[User] What measures is the company taking to address supply chain disruptions?

[Assistant] The company is working to minimize supply chain challenges to meet customer demand and continues to assess the environment for any additional necessary actions.


[User] What were the main factors contributing to the increase in consolidated operating profit in 2023?

[Assistant] The increase was primarily due to favorable price realization, higher sales volume and the absence of a 2022 goodwill impairment charge related to the Rail division.


[User] How did changes in dealer inventories impact Construction Industries' sales in 2023?

[Assistant] Dealer inventory increased more during 2023 than during 2022. Sales increased due to favorable price realization and higher sales volume which were impacted by changes in dealer inventories.


[User] What was the impact of the divestiture of the Longwall business on operating profit in the first quarter of 2023?

[Assistant] The divestiture of the company’s Longwall business resulted in an unfavorable impact to operating profit of $586 million, primarily a non-cash item driven by the release of accumulated foreign currency translation.


[User] What was the total amount of First Mortgages purchased by CSB in 2023?

[Assistant] $2.9 billion


[User] Between what dates did CS&Co allegedly violate their duty to seek best execution as per the plaintiffs' allegations in the lawsuit involving UBS Securities LLC?

[Assistant] Between July 13, 2011 and December 31, 2014


[User] What were the total compensation and benefits costs recognized in expense for the year ended December 31, 2023, according to The Charles Schwab Corporation?

[Assistant] $292 million


[User] What was the reduction in the amortized cost basis of the closed portfolios due to cumulative basis adjustments in these hedging relationships?

[Assistant] $19 million


[User] What was the fair value of client securities available to be pledged at Charles Schwab as of December 31, 2023?

[Assistant] $86,911 million


[User] What was the total value of non-agency commercial mortgage-backed securities listed as available for sale by Charles Schwab Corporation?

[Assistant] $450 million


[User] How many shares of common stock did CSC repurchase during the year ended December 31, 2023, and what was the total cost?

[Assistant] CSC repurchased 37 million shares of its common stock for $2.8 billion during the year ended December 31, 2023.


[User] What was the dividend payment schedule for Series E preferred stock before it was redeemed on December 1, 2022?

[Assistant] Before its redemption on December 1, 2022, Series E preferred stock paid dividends semi-annually until March 1, 202ListDetails then quarterly thereafter until the final dividend on December 1, 2022.


[User] How many common shares was the Company authorized to grant under its stock incentive plans as of December 31, 2023?

[Assistant] 108 million


[User] What type of business does Chipotle Mexican Grill, Inc. operate?

[Assistant] Chipotle Mexican Grill, Inc. operates a chain of restaurants specializing in Mexican food such as burritos, burrito bowls, quesadillas, tacos, and salads.


[User] How many shares did the company repurchase between January 1998 and August 26, 2023?

[Assistant] 154.0 million shares


[User] What was the fiscal year cash flow before share repurchases and changes in debt as of August 26, 2023?

[Assistant] $2.2 billion


[User] What does the debt balance mentioned in financial documents represent?

[Assistant] The debt balances represent principal maturities, excluding interest, discounts, and debt issuance costs.


[User] What are the components of operating and finance lease obligations as defined in ASU 2016-02, Leases (Topic 842)?

[Assistant] Operating and finance lease obligations include related interest in accordance with ASU 2016-02, Leases (Topic 842).


[User] How are self-insurance reserves computed and presented in financial statements?

[Assistant] Self-insurance reserves are computed based on actuarial calculations and are presented net of insurance receivables, reflecting the net present value of these obligations on the Consolidated Balance Sheets.


[User] What do commitments in tax credit equity investments involve according to the financial statements?

[Assistant] Commitments to tax credit equity investments involve making additional capital contributions upon achievement of project milestones.


[User] What was the tax liability for uncertain tax positions as of August 26, 2023?

[Assistant] The tax liability for uncertain tax positions, including interest and penalties, was $51.0 million as of August 26, 2023.


[User] What is the purpose of using non-GAAP financial measures in management's discussion and analysis?

[Assistant] Non-GAAP financial measures are used to provide additional information for determining the optimum capital structure and assist management in evaluating performance and making business decisions to maximize stockholders' value.


[User] What was the net income reported for the fiscal year ending in August 2023?

[Assistant] $2,528,426


[User] What was the average stockholders' deficit over the past five fiscal years up to 2023?

[Assistant] The average stockholders' deficit was calculated based on the past five years' deficits, with the most recent being $(4,042,495) in 2023.


[User] What is the estimated redemption rate for Chipotle gift cards?

[Assistant] While the majority of Chipotle gift cards are redeemed within one year, a portion of them are not expected to be redeemed and are recognized as breakage over time.


[User] What criteria determine the expiration of points in the Chipotle Rewards program?

[Assistant] Points in the Chipotle Rewards program generally expire if an account is inactive for six months.


[User] How does Chipotle calculate revenue recognition for redeemed Chipotle Rewards?

[Assistant] Chipotle recognizes revenue from redeemed Chipotle Rewards within food and beverage revenue when a customer redeems an earned reward.


[User] What are the main changes introduced by ASU No. 2023-09 regarding income tax disclosures?

[Assistant] The main changes introduced by ASU No. 2023-09 include enhanced income tax disclosures, primarily related to the standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction.


[User] When is the guidance from ASU No. 2023-09 effective, and what adoption choices are offered?

[Assistant] The guidance from ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2021, with options for early adoption and application methods of either prospective or retrospective.


[User] How much did the prepaid expenses increase from 2022 to 2023?

[Assistant] Prepaid expenses increased from $69,167 in 2022 to $97,670 in 2023.


[User] What was the net amount of leasehold improvements, property, and equipment as of December 31, 2023?

[Assistant] The net amount of leasehold improvements, property, and equipment as of December 31, 2023 was $2,170,038.


[User] What is the total value of accrued liabilities as of December 31, 2023?

[Assistant] The total value of accrued liabilities as of December 31, 2023 was $147,688.


[User] How has the gift card liability changed from 2022 to 2023?

[Assistant] The gift card liability increased from $145,014 in 2022 to $164,930 in 2023.


[User] What is the ending balance of the Chipotle Rewards liability for the year 2023?

[Assistant] The ending balance of the Chipotle Rewards liability for 2023 was $44,750.


[User] How does AT&T emphasize diversity in its hiring practices?

[Assistant] AT&T emphasizes diversity in hiring practices by focusing on attracting talent that represents a wide range of backgrounds, identities, and experiences.


[User] What roles do employee groups play in fostering diversity at AT&T?

[Assistant] Employee groups at AT&T help to reflect and foster the diversity of the workforce by being organized around various demographics and professional interests.


[User] As of the report's date, how does the company view the necessity of disclosing pending legal proceedings?

[Assistant] As of the date of the report, the company does not believe that any pending legal proceedings to which they or their subsidiaries are subject need to be disclosed as material legal proceedings.


[User] Are the company's legal issues ongoing or resolved?

[Assistant] The company's legal issues are ongoing, as they are involved in numerous lawsuits and regulatory proceedings arising in ordinary course of business.


[User] What does the company imply about the severity of the lawsuits and regulatory proceedings they are involved in?

[Assistant] The company implies that the lawsuits and regulatory proceedings they are involved in are not severe enough to be considered material, as none are required to be disclosed as material legal proceedings.


[User] Does the company have any significant legal issues disclosed in their report?

[Assistant] As of the date of the report, the company has no significant legal issues disclosed that are required to be reported as material legal proceedings according to their assessment.


[User] Why did operations and support expenses decrease in 2023, and what factors offset this decrease?

[Assistant] Operations and support expenses decreased due to transformation efforts including lower personnel costs and reduced Mobility equipment costs from fewer device sales and a 3G network shutdown. The decrease was offset by higher costs in amortizing deferred customer acquisition and unfavorable foreign exchange impacts.


[User] What caused the increase in depreciation and amortization expenses in 2023 and what is expected for 2024?

[Assistant] The increase in 2023 was caused by higher depreciation from ongoing capital spending on fiber and network upgrades. In 2024, depreciation expenses are expected to further increase due to an anticipated shortening of estimated economic lives of wireless equipment related to the deployment of Open RAN.


[User] What were the reasons for declining equity in net income of affiliates and other income in 2023?

[Assistant] The decline in equity in net income of affiliates was mainly due to underperformance by DIRECTV, despite gains from a sale-leaseback transaction. Other income dropped because of actuarial remeasurement losses of pension assets, impairments, and reduced net pension and postretirement benefit credits.


[User] What drove the increase in operating revenues and income in 2023?

[Assistant] The increase in operating revenues and income in 2023 was driven by gains in the Mobility and Consumer Wireline segments, offset by a decline in the Business Wireline segment.


[User] How did diesel fuel prices affect the company’s freight costs in fiscal 2022?

[Assistant] Higher diesel fuel prices in fiscal 2022 led to increased domestic freight costs for the company.


[User] What financial mechanism did the company use in the fourth quarter of 2021 to manage its long-term debt?

[Assistant] In the fourth quarter of 2021, the company completed a registered offering of Senior Notes and used the proceeds to redeem earlier notes, incurring a prepayment penalty and accelerating the expensing of certain costs.


[User] What recent development allows Dollar Tree customers to receive same-day delivery without visiting a store?

[Assistant] Dollar Tree has implemented the Instacart online delivery service, enabling customers to shop online and receive same-day delivery without visiting a store.


[User] How many new Combo Stores did the company operate as of January 28, 2023?

[Assistant] As of January 28, 2023, the company operated approximately 810 Combo Stores.


[User] What does 'expanded' refer to in the context of calculating comparable store net sales changes?

[Assistant] In the context of calculating comparable store net nwq sales changes, 'expanded' refers to stores that have been relocated.


[User] Are re-bannered stores immediately included in the calculation of comparable store net sales changes?

[Assistant] No, re-bannered stores are not included in the calculation of comparable store net sales changes until after the first fifteen months of operation under the new brand.


[User] How many new stores did the Dollar Tree segment open in the fiscal year ending January 28, 2023?

[Assistant] The Dollar Tree segment opened 131 new stores in the fiscal year ending January 28, 2023.


[User] What was the total store count for the Dollar Tree segment at the beginning of the report year?

[Assistant] At the beginning of the report year, the total store count for the Dollar Tree segment was 8,061.


[User] What percentage change in comparable store net sales was recorded in the consolidated report for the fiscal year ended January 28, 2023?

[Assistant] The percentage change in comparable store net sales for the consolidated report for the fiscal year ended January 28, 2023 was 5.9%.


[User] What was the reason for the increase in the contribution from merchandise cost to the gross profit margin in the fiscal year 2022?

[Assistant] The contribution from merchandise cost to the gross profit margin in the fiscal year 2022 increased due to a higher initial mark-on, which was partially offset by higher freight costs and increased sales of lower margin consumable merchandise in the Family Dollar segment.


[User] What factors are considered in the revenue disaggregation process according to the guidance on segment reporting?

[Assistant] The revenue disaggregation process considers information regularly reviewed by the Chief Executive Officer (CODM) for evaluating financial performance, disclosures used in investor presentations, and the nature of the company's products, subscriptions and services as presented in the consolidated statements of operations.


[User] What was the net income per share on a diluted basis in 2023 according to the fiscal year data provided?

[Assistant] $32.98


[User] What was the total net periodic benefit cost for the fiscal year 2023?

[Assistant] $9 million


[User] How much did the fair value of plan assets change from the beginning to the end of the 2023 fiscal year?

[Assistant] Decreased from $1,160 million to $1,105 million


[User] What is the discount rate range for benefit obligations as of October 30, 2022?

[Assistant] 1.25%-7.25%


[User] What was the fair value measurement of cash equivalents at the reporting date using Level 1 on October 30, 2022?

[Assistant] $19 million


[User] What is the interest rate for the 4.500% notes due in August 2034?

[Assistant] 4.55%


[User] What are the total long-term debt figures reported as of the latest fiscal period?

[Assistant] $37,621 million


[User] What rights do note holders have in the event of a change in control according to the terms mentioned?

[Assistant] Note holders have the right to require the repurchase of their notes at a price equal to 101% of the principal amount, plus accrued and unpaid interest.


[User] What was the estimated aggregate fair value of the company's debt as of October 29, 2023?

[Assistant] $33,181 million


[User] What is the basis for the company's premium revenue recognition in value-based arrangements?

[Assistant] Premium revenues in value-based arrangements are recognized in the period when health care services are made available.


[User] How does CMS adjust the company's Medicare Advantage and Part D premium revenues?

[Assistant] CMS uses a risk adjustment model that apportions premiums based on health severity and certain demographic factors, providing higher payments for enrollees diagnosed with certain conditions and lower payments for healthier enrollees.


[User] What types of revenues are primarily generated by the company's Optum Rx pharmacy care services business?

[Assistant] The primary revenues from Optum Rx pharmacy care services come from products sold through a network of pharmacies, including costs of pharmaceuticals, dispensing fees, and customer co-payments.


[User] What criteria does the Company use to manage its investment portfolio?

[Assistant] The Company manages its investment portfolio to limit exposure to any one issuer or market sector, and largely limits its investments to investment grade quality.


[User] What kinds of products and services does the Company provide under the AARP Program?

[Assistant] Under the AARP Program, the Company offers supplemental Medicare benefits, hospital indemnity insurance, including insurance for individuals aged 50 to 64, and other related products.


[User] How are program assets for the AARP Program managed according to the agreement with AARP?

[Assistant] According to the agreement with AARP, program assets are managed separately from the Company’s general investment portfolio and are used exclusively to cover costs associated with the AARP Program. These assets are invested at the Company's discretion, within investment guidelines approved by AARP.


[User] What was the total amortized cost and fair value of debt securities as of December 31, 2023?

[Assistant] The total amortized cost of debt securities was $48,054 million and the fair value was $45,491 million as of December 31, 2023.


[User] How much did the company hold in equity securities as of December 31, 2023?

[Assistant] The company held $4.9 billion in equity securities as of December 31, 2023.


[User] What were the unrealized losses on U.S. government and agency obligations for more than 12 months as of December 31, 2023?

[Assistant] The unrealized losses on U.S. government and agency obligations for more than 12 months as of December 31, 2023 were $227 million.


[User] What are the main factors that caused the unrealized losses on the Company's debt securities?

[Assistant] The unrealized losses on the Company's debt securities were primarily caused by interest rate increases.


[User] What was the net impact of catastrophe losses and related adjustments in 2021?

[Assistant] The net impact of catastrophe losses and related adjustments in 2021 was (2,401) million U.S. dollars.


[User] What were the total adjusted policy acquisition costs and administrative expenses for 2021?

[Assistant] The total adjusted policy acquisition costs and administrative expenses in 2021 amounted to 9,416 million U.S. dollars.


[User] What were the reinstatement premiums related to PPD expenses for the year shown in the document?

[Assistant] The reinstatement premiums related to PPD expenses were unfavorably shown as (2) million U.S. dollars.


[User] What was the net investment income in 2023 according to the provided data?

[Assistant] $4,937 million


[User] What factors contributed to the increase in net investment income in 2023?

[Assistant] The increase in net investment income in 2023 was primarily due to higher reinvestment rates on fixed maturities and the consolidation of Huatai Group.


[User] How much is the amortization benefit of the fair value adjustment on assumed long-term debt expected to be each year from 2024 through 2028?

[Assistant] $21 each year


[User] What was the fair value and amortized cost, net of valuation allowance, for the Republic of Korea's government securities as of December 31, 2023?

[Assistant] The fair value was $1,784 million and the amortized cost, net of valuation allowance, was $1,723 million.


[User] What is the expected maximum potential loss from hurricane events for Chubb as of the end of 2023?

[Assistant] $3,827 million


[User] What is the coverage percentage provided by the Terrorism Risk Insurance Program Reauthorization Act of 2019 (TRIPRA) for Chubb's terrorism-related losses in 2023?

[Assistant] 81 percent


[User] What types of coverage does political risk insurance provide for commercial lenders?

[Assistant] Political risk insurance for commercial lenders covers missed scheduled loan repayments due to acts like confiscation, expropriation, nationalization by the host government, currency inconvertibility, exchange transfer restrictions, and war or other acts of political violence.


[User] What was the balance of Series B and Series C preferred stock at Visa Inc. as of September 30, 2023?

[Assistant] The balance was $441 million for Series B and $801 million for Series C.


[User] How much was the total recovery for covered losses available at Visa Inc. as of September 30, 2022?

[Assistant] The total recovery for covered losses available was $1,237 million.


[User] What were the total unrealized losses on U.S. Treasury securities as of the last reporting date?

[Assistant] $134 million


[User] What was the carrying amount of the company's non-marketable equity securities accounted for using the fair value measurement alternative as of September 30, 2023?

[Assistant] $1,173 million


[User] What was the total operating lease cost for the company in fiscal 2021?

[Assistant] $111 million


[User] What is the weighted-average remaining lease term for operating leases as of September 30, 2023?

[Assistant] approximately six years


[User] What was the funded status of the U.S. pension plans as of September 30, 2023, and how does it compare to the previous year?

[Assistant] The funded status of the U.S. pension plans as of September 30, 2023 was $374 million, compared to $297 million in the previous year.


[User] What was the effective price per share of class A common stock for fiscal 2023 under the U.S. retrospective responsibility plan?

[Assistant] $221.33


[User] What were the basic earnings per share for Visa's Class A common stock in fiscal 2023?

[Assistant] $8.29


[User] How many shares of class A common stock were authorized for grant under Visa's Equity Incentive Compensation Plan?

[Assistant] 198 million


[User] What was the primary reason for the increase in Construction Industries' profit in 2023?

[Assistant] The primary reason for the increase in Construction Industries' profit in 2023 was favorable price realization.


[User] How much did Resource Industries' profit increase in 2023 and what were the main contributing factors?

[Assistant] Resource Industries' profit increased by $1.007 billion, or 55 percent, in 2023. The main contributing factors were favorable price realization, partially offset by unfavorable manufacturing costs and currency impacts.


[User] What led to the decrease in sales for Asia/Pacific in the text provided?

[Assistant] Sales decreased in Asia/Pacific due to lower sales volume and unfavorable currency impacts, primarily related to the Japanese yen, Australian dollar, and Chinese yuan, partially offset by favorable price realization.


[User] How did the Energy & Transportation segment's sales and profit change in 2023?

[Assistant] The Energy & Transportation segment's total sales increased by $4.249 billion, or 18 percent, and profit increased by $1.627 billion, or 49 percent, in 2023 compared to 2022.


[User] What does the term 'currency' refer to in the context of a company's financial analysis?

[Assistant] In the context of a company's financial analysis, 'currency' refers to the translation impact on sales and operating profit resulting from changes in foreign currency exchange rates compared to the U.S. dollar. It includes the effects of hedging activities and the net impact of exchange rate changes on foreign currency assets and liabilities.


[User] What is included in the 'Dealer Inventories' in financial reports?

[Assistant] Dealer Inventories in financial reports include dealer machine and engine inventories but exclude aftermarket parts.


[User] What regions are encompassed by the geographic term 'EAME'?

[Assistant] The geographic term 'EAME' encompasses Europe, Africa, the Middle East, and Eurasia.


[User] What types of assets are classified under 'Earning Assets' in a financial context?

[Assistant] Earning Assets are classified as assets primarily comprising of total finance receivables net of unearned income, plus equipment on operating leases net of accumulated depreciation.


[User] What does the 'Energy & Transportation' segment of a company typically involve?

[Assistant] The 'Energy & Transportation' segment typically involves supporting customers using reciprocating engines, turbines, diesel-electric locomotives, and related services across industries like Oil and Gas, Power Generation, and Transportation. It includes responsibilities such as product design, development, marketing, and sales of products like turbines, gas compressors, generator sets, and marine systems.


[User] When does the 364-day facility entered into in August 2023 expire, and what is its total amount?

[Assistant] The 364-day facility expires in August 2024 and its total amount is $3.15 billion.


[User] What was the fair value of Schwab's holdings at the end of 2022?

[Assistant] $16.4 billion


[User] What are the top three geographic exposures for Schwab's holdings as of the end of 2022?

[Assistant] France at $5.1 billion, the United Kingdom at $4.8 billion, and Canada at $1.7 billion


[User] How does Schwab determine the fair value of its financial instruments?

[Assistant] Schwab uses the market approach to determine the fair value of certain financial assets and liabilities.


[User] What were the acquisition and integration-related costs for the year 2023?

[Assistant] $401 million


[User] How did the return on average common stockholders’ equity (GAAP) change from 2021 to 2023?

[Assistant] It decreased from 18% in 2022 to 16% in 2023, while it was 11% in 2021.


[User] What are the key components of the Consolidated Statements of Income as listed in the financial overview for The Charles Schwab Corporation for the year ending December 31, 2023?

[Assistant] The key components of the Consolidated Statements of Income for The Charles Schwab Corporation in 2023 include Net Revenues (divided into interest revenue, interest expense, net interest revenue, asset management and administration fees, trading revenue, bank deposit account fees, and other revenues) and Expenses Excluding Interest (comprising compensation and benefits, professional services, occupancy and equipment, advertising and market development, communications, depreciation and amortization, amortization of acquired intangible assets, regulatory fees and assessments, and other expenses).


[User] What was the balance of bank deposits at Charles Schwab Corporation as of December 31, 2023?

[Assistant] $289,953 million


[User] What was the net income of The Charles Schwab Corporation during the year ended December 31, 2023?

[Assistant] $5,067 million


[User] What accounting methods are utilized by Schwab when it does not have a controlling financial interest in an entity?

[Assistant] When Schwab does not have a controlling financial interest in an entity, it accounts for its investments under the equity method of accounting if it has the ability to exercise significant influence over the entity's operating and financing decisions. Otherwise, investments are generally carried at cost, adjusted for impairment and observable price changes of identical or similar investments of the same issuer, except for investments in qualified affordable housing projects which are accounted for using the proportional amortization method.


[User] What basis is used to record HTM investment securities in Schwab's financial statements?

[Assistant] HTM investment securities are recorded at amortized cost, net of any allowance for credit losses.


[User] What was the total net goodwill for all categories combined as of the most recent reporting period?

[Assistant] $5,288 million


[User] What was the net unrealized gain or loss for equity securities held as of December 31, 2023 and 2022?

[Assistant] The net unrealized loss for equity securities held as of December 31, 2023 was $(12) million, and for 2022, it was $(49) million.


[User] What types of services does The Charles Schwab Corporation provide?

[Assistant] The Charles Schwab Corporation provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services.


[User] How much in client assets did The Charles Schwab Corporation have at the end of 2023?

[Assistant] $8.52 trillion


[User] What are the two main service segments of The Charles Schwab Corporation?

[Assistant] Investor Services and Advisor Services


[User] When did The Charles Schwab Corporation change its corporate headquarters from San Francisco to Westlake, Texas?

[Assistant] January 1, 2021


[User] What date did the Second Amended and Restated Insured Deposit Account Agreement (2023 IDA agreement) become effective with TD Depository Institutions?

[Assistant] May 4, 2023


[User] How much is the service fee on client cash deposits held at the TD Depository Institutions under the 2023 IDA agreement?

[Assistant] 15 basis points


[User] What types of services does Schwab provide to the TD Depository Institutions under the 2023 IDA agreement?

[Assistant] Recordkeeping and support services


[User] What is the purpose of cash being swept off-balance sheet in the 2023 IDA agreement?

[Assistant] To deposit accounts at the TD Depository Institutions


[User] What was the percentage of net sales accounted for by the interest and other, net, in fiscal 2022?

[Assistant] 1.0%


[User] What was the value of cash payments for common stock repurchases through open market purchases during fiscal 2022?

[Assistant] $6.7 billion


[User] How did the borrowing capacity under the back-up facilities change in July 2022?

[Assistant] It expanded from $3.0 billion to $5.0 billion.


[User] What were the net proceeds from the issuance of $4.0 billion senior notes in March 2022 used for?

[Assistant] For general corporate purposes, including repayment of outstanding indebtedness.


[User] What accounted for the decrease in net cash from operating activities in fiscal 2022?

[Assistant] Changes in working capital


[User] What procedures did the auditors perform to address the critical audit matter regarding the estimation of store shrink at The Home Depot, Inc.?

[Assistant] The auditors evaluated the design and tested the internal controls related to developing the estimate of store shrink. They assessed the company's method and assumptions used to estimate inventory losses, performed trend and sensitivity analyses over the shrink reserve estimate.


[User] How did The Home Depot, Inc.'s basic earnings per share change from 2020 to 2022?

[Assistant] The Home Depot, Inc.'s basic earnings per share increased from $11.98 in 2020, to $15.59 in 2021, and then to $16.74 in 2022.


[User] How is the cash and cash equivalents balance calculated at the end of the year?

[Assistant] The cash and cash equivalents balance at the end of the year is calculated by starting with the cash and cash equivalents at the beginning of the year, adjusting for any change in cash and cash equivalents during the year, and accounting for the effect of exchange rate changes.


[User] What method is used to amortize the cost of definite-lived intangible assets, and what does this method reflect?

[Assistant] The straight-line basis is used to amortize the cost of definite-lived intangible assets, reflecting the pattern of expected economic benefit.


[User] What was the amount of deferred revenue for products and services as of January 29, 2023?

[Assistant] $2.0 billion


[User] What factors contributed to the increase in operating income margin in fiscal 2022?

[Assistant] The increase in operating income margin in fiscal 2022 was due to an increase in gross profit margin, partially offset by an increase in the selling, general and administrative expense rate.


[User] What were the reasons behind the reduction in net interest expense in fiscal 2022?

[Assistant] The reduction in net interest expense in fiscal 2022 was primarily due to refinancing of debt which included prepayment penalties and the acceleration of expensing amortizable non-cash deferred financing costs, along with higher interest income on investments offsetting interest expense on credit facility borrowings.


[User] Why did the effective tax rate increase in 2022 compared to 2021?

[Assistant] The increase in the effective tax rate in 2022 was primarily due to a deferred tax benefit in the prior year related to state entity restructuring, as well as higher non-deductible executive compensation and lower Work Opportunity Tax credits as a percentage of pre-tax income.


[User] What are the two reporting business segments of the company?

[Assistant] The two reporting business segments of the company are Dollar Tree and Family Dollar.


[User] How did the operating income margin change for the Family Dollar segment from 202io to 2022?

[Assistant] The operating income margin for the Family Dollar segment decreased from 5.4% in 2021 to 1.0% in 2022.


[User] What was the main factor that led to an increase in net cash used in investing activities in 2022 compared to 2021?

[Assistant] The main factor that led to an increase in net cash used in investing activities in 2022 compared to 2021 was higher capital expenditures in the current year.


[User] What contributed to the decrease in net cash used in financing activities in 2022 compared to 2021?

[Assistant] The decrease in net cash used in financing activities in 2022 compared to 2021 was primarily due to lower cash spending on stock repurchases and the avoidance of a prepayment penalty incurred in the prior year.


[User] What actions has the company planned for fiscal 2023 regarding their store operations?

[Assistant] For fiscal 2023, the company plans to open new stores, expand and renovate existing stores, and invest in supply chain and information technology.


[User] How is the inventory at distribution centers valued, and what method is used for store inventories?

[Assistant] Inventory at distribution centers is valued at the lower of cost or net realizable value using a weighted-average basis, while store inventories are assigned cost using the retail inventory method on a weighted-average basis.


[User] Why did payroll expenses increase in 2022, and how did it impact the overall expense rate?

[Assistant] Payroll expenses increased primarily due to minimum wage increases and other investments in store payroll, resulting in an 85 basis points increase in the overall expense rate.


[User] What type of contributions does the Chipotle 401(k) Plan allow?

[Assistant] cash contributions from payroll deductions


[User] What is the matching contribution structure of the Chipotle 401(k) Plan?

[Assistant] 100% on the first 3% of pay and 50% on the next 2% of pay each pay period


[User] What was the total matching contribution for the Chipotle 401(k) Plan in 2023?

[Assistant] $13,821


[User] What was the accrued legal liability balance as of December 31, 2023?

[Assistant] $7,640


[User] What are the terms of the revolving credit facility agreement with JPMorgan as of December 31, 2023?

[Assistant] The revolving credit facility agreement includes an interest rate based on the SOFR plus 1.475%, a commitment fee of 0.175% per year for unused amounts, and several financial covenants including maintaining a total leverage ratio of less than 3.0x and a consolidated fixed charge coverage ratio of greater than 1.5x.


[User] What percentage of Tractor's common stock did we own as of December 31, 2023?

[Assistant] 10.2%


[User] How much did our purchases from the supplier Tractor increase from 2021 to 2023?

[Assistant] $14,155


[User] What was the total amount invested in purchases from Vebu during the year ended December 31, 2023?

[Assistant] $991


[User] Did we make any purchases from Vebu in the year 2021?

[Assistant] No


[User] What was the reported amount of cash and cash equivalents held by Chipotle Mexican Grill, Inc. as of December 31, 2023?

[Assistant] $560,609


[User] What is the balance of the U.S. litigation escrow account as of September 30, 2023?

[Assistant] $1.8 billion


[User] What was the role of KPMG LLP in the context of Visa Inc.'s financial reporting for 2023?

[Assistant] KPMG LLP served as the independent registered public accounting firm for Visa Inc., responsible for auditing the consolidated financial statements and internal control over financial reporting as of September 30, 2023.


[User] What was the net income of Visa Inc. for the fiscal year ended September 30, 2023?

[Assistant] $17,273 million


[User] How much did Visa Inc.'s net revenues increase from 2021 to 2023?

[Assistant] $8,548 million


[User] What was the total equity of Visa Inc. as of September 30, 2023?

[Assistant] $38,733 million


[User] What was the net change in cash, cash equivalents, restricted cash, and restricted cash equivalents at the end of the year as reported?

[Assistant] $21,990


[User] How does the company recognize impairment on its debt securities?

[Assistant] When there is a decline in fair value of a debt security below the amortized cost basis and the company intends to sell the security or it is likely that they will be required to sell the security before recovery of its cost basis.


[User] How much does the company expect to recognize from the remaining performance obligations over the next two years as of September 30, 2023?

[Assistant] $1.45 billion


[User] What are the specific percentages for the division of monetary settlements and judgments between Mastercard and Visa according to their omnibus agreement?

[Assistant] According to the omnibus agreement, the monetary settlements and judgments are divided with Mastercard receiving 33.3333% and Visa receiving 66.6667%.


[User] What conditions must be met for the UK loss sharing agreement to compensate for losses?

[Assistant] The UK loss sharing agreement compensates for losses only if either losses valued in excess of €1.0 billion have arisen in UK covered claims, or the conversion rate of the series B preferred stock has been reduced to zero due to losses in claims related to multilateral interchange fee rate setting in the Visa Europe territory.


[User] How did total revenues in the Health Services segment change from 2022 to 2023, and what were the main drivers of this change?

[Assistant] Total revenues increased by $17.3 billion, or 10.2%, primarily driven by pharmacy drug mix, growth in specialty pharmacy, brand inflation, and the acquisitions of Oak Street Health and Signify Health.


[User] What were the company's restructuring charges in 2023?

[Assistant] $507 million


[User] What was the term of the $5.0 billion loan agreement the Company entered into on May 1, 2023?

[Assistant] 364 days


[User] What was the maximum borrowing capacity available from the Federal Home Loan Bank of Boston as of December 31, 2023?

[Assistant] approximately $1.0 billion


[User] What was the total proceeds from the issuance of senior notes by the Company on June 2, 2023?

[Assistant] approximately $4.9 billion


[User] How many shares of common stock did the company receive initially from the 2024 $3.0 billion ASR agreement with Morgan Stanley?

[Assistant] Approximately 31.4 million shares


[User] What was the initial price per share for the stocks received from the 2023 $2.0 billion ASR with Citibank?

[Assistant] $92.19 per share


[User] How were the various portions of the $1.5 billion ASR with Barclays Bank PLC accounted for in 2022?

[Assistant] It was accounted for as an initial treasury stock transaction for $1.2 billion and a forward contract for $0.3 billion.


[User] What was the maximum amount that the Company's insurance and HMO subsidiaries could pay in dividends without prior regulatory approval as of December 31, 2023?

[Assistant] $3.1 billion


[User] What are the revenue sources for the Company’s Health Care Benefits Segment?

[Assistant] Insurance premiums and fees billed to customers.


[User] What actions does the company take in response to a reinsurer's insolvency or regulatory supervision regarding reinsurance recoverables?

[Assistant] Upon initial notification of an insolvency, the company typically recognizes an expense for a substantial portion of all balances outstanding through a combination of write-offs of recoverable balances and increases to the valuation allowance for uncollectible reinsurance. When a reinsurer is under regulatory supervision, the company generally recognizes a default factor by estimating an expected recovery on all balances outstanding, net of collateral.


[User] What is the sequence of steps involved in assessing impairment at the reporting unit level as described in the provided information?

[Assistant] The impairment assessment at the reporting unit level involves first conducting a qualitative assessment to determine if it is more likely than not that the fair value of the unit is greater than its carrying amount. If the unit fails this assessment, a quantitative analysis is then used to measure and record the impairment.


[User] How did the assumptions and estimates used for assessing the fair value of reporting units potentially impact the company's financial statements?

[Assistant] If the assumptions and estimates used in the fair value assessment of reporting units change, this could lead to a required write-down of the carrying value of Goodwill, which might significantly affect the results of operations in the period when the charge is recorded.


[User] What were the results of the impairment testing for the company in 2023?

[Assistant] In 2023, the impairment testing determined that no impairment was required and none of the reporting units were at risk for impairment.


[User] What was the total amount of capital returned to shareholders in the provided data?

[Assistant] $3.9 billion


[User] How much did the company spend on share repurchases as part of its capital return to shareholders?

[Assistant] $2.5 billion


[User] What is the new share repurchase program approved by the company's Board of Directors?

[Assistant] A new program of up to $5 billion with no expiration date, effective from July 1, 2023.


[User] What was the pre-tax net favorable prior period development for 2022 and what factors contributed to it?

[Assistant] The pre-tax net favorable prior period development for 2022 was $876 million, which included adverse development of $155 million for molestation claims and $113 million related to legacy asbestos and environmental exposures.


[User] How did the P&C combined ratios trend from 2021 to 2023?

[Assistant] The P&C combined ratios showed a decreasing trend from 89.1% in 2021, to 87.6% in 2022, and 86.5% in 2023, indicating improvements in underwriting income over these years.


[User] What were the net catastrophe losses in U.S. dollars in 2023?

[Assistant] $710 million


[User] What was the primary reason for the decrease in cash provided by continuing operating activities from 2022 to 2023?

[Assistant] The decrease was primarily due to a $409 million reduction in operating income.


[User] What significant financial activity occurred in continuing investing activities in 2023?

[Assistant] In 2023, significant activity in continuing investing activities included receiving proceeds of $14.5 billion from the maturities and sales of investments, offset by spending $13.9 billion on investments and $456 million on property and equipment.


[User] How much cash was used in continuing financing activities in 2023, and what were the main expenditures?

[Assistant] $2,450 million was used in continuing financing activities in 2023, mainly for common stock repurchases, debt repayments, and paying dividends.