[User] What legal measures have individual merchants taken against Visa and Mastercard in the context of the Interchange Multidistrict Litigation (MDL) since May 2013?

[Assistant] Individual merchants have pursued legal actions against Visa and Mastercard by filing over 50 cases which include allegations of monopolization of certain debit card-related market segments and seeking injunctions against various transaction fees and Visa operating rules.


[User] What specific rule did Visa and Mastercard enforce regarding ATM access fees that led to a consumer class action?

[Assistant] Visa and Mastercard enforced a rule stating that if an ATM operator chooses to charge consumers an access fee for a Visa or Plus transaction, that fee cannot be greater than the access fee charged for transactions on other networks.


[User] How much net cash did Visa's operating activities generate in the most recent period according to the financial statements?

[Assistant] 20,755 units


[User] What does GameStop Corp. offer to its customers?

[Assistant] GameStop Corp. offers games and entertainment products through its stores and ecommerce platforms.


[User] How long is GameStop's fiscal year?

[Assistant] GameStop's fiscal year is composed of 52 or 53 weeks ending on the Saturday closest to the last day of January.


[User] In which geographic segments does GameStop operate?

[Assistant] GameStop operates in four geographic segments: United States, Canada, Australia, and Europe.


[User] How many stores does GameStop have as of January 28, 2023?

[Assistant] As of January 28, 2023, GameStop had a total of 4,413 stores across all of its segments.


[User] What names do GameStop's stores and ecommerce sites operate under?

[Assistant] GameStop's stores and ecommerce sites operate primarily under the names GameStop®, EB Games®, and Micromania®.


[User] What types of products does GameStop classify under its merchandise sales?

[Assistant] GameStop categorizes its merchandise sales into hardware and accessories, software, and collectibles.


[User] Where are the consolidated financial statements and accompanying notes found in the annual report?

[Assistant] They are included immediately following Part IV and are incorporated by reference therein.


[User] What does 'incorporated by reference' mean in the context of financial statements in the Annual Report on Form 10-K?

[Assistant] It means that the financial statements and notes are officially included and considered part of the report through reference.


[User] What does the term 'following Part IV hereof' imply about the location of the consolidated financial statements in the document?

[Assistant] The phrase 'following Part IV hereof' implies that the consolidated financial statements are positioned immediately after Part IV in the document.


[User] How are the consolidated financial statements made part of the document mentioned?

[Assistant] The consolidated financial statements are made part of the mentioned document by being incorporated by reference.


[User] Is there a difference in referencing the detailed content of financial statements directly in the document versus incorporating them by reference?

[Assistant] Yes, there is a difference. Direct inclusion means the full financial statements are contained within the document itself, whereas incorporating by reference means they are legally a part of the document but physically elsewhere, merely referenced within.


[User] How does the structure of the Annual Report on Form 10-K facilitate the integration of the consolidated financial statements?

[Assistant] The structure of the Annual Report on Form 10-K, organizing the consolidated financial statements to follow Part IV, facilitates a logical and seamless flow of information, integrating the financial data effectively within the broader report.


[User] What principle did Google's founders emphasize about the company in their original letter?

[Assistant] Google's founders emphasized that Google is not a conventional company and does not intend to become one.


[User] What type of company did Google become after 2016?

[Assistant] After 2016, Google became an AI-first company.


[User] What are the two segments under which Google reports its operations?

[Assistant] Google reports its operations under two segments: Google Services and Google Cloud.


[User] What was a significant AI achievement by Google's DeepMind in 2020?

[Assistant] In 2020, Google DeepMind's AlphaFold system solved a 50-year-old protein folding challenge.


[User] What is the projected change in income before income taxes if the 2023 discount rate for the U.S. defined benefit pension and retiree health benefit plans changes by a quarter percentage point?

[Assistant] $13.4 million


[User] How would a 5% change in the contingent consideration liabilities impact income before taxes as of December 31, 2023?

[Assistant] It would result in a change in income before income taxes of $5.2 million.


[User] What financial impact would a quarter percentage point change in the 2023 expected return on plan assets for U.S. plans have on income before income taxes?

[Assistant] $31.3 million


[User] What is the potential financial effect of a 5% change in uncertain tax positions and the valuation allowance as of December 31, 2023?

[Assistant] A change in net income of $88.7 million and $45.7 million, respectively.


[User] What method is used to determine the discount rates for defined benefit pension and retiree health benefit plans?

[Assistant] A plan-specific yield curve of high quality, fixed income debt instruments.


[User] What was Eli Lilly and Company's net income for the year 2023?

[Assistant] $5,240.4 million


[User] How much did Eli Lilly and Company's net cash from financing activities increase or decrease from the previous year?

[Assistant] Net cash from financing activities decreased by $8,902.3 million from the previous year.


[User] What factors are considered in estimating a reserve for future product returns?

[Assistant] Several factors are considered in estimating a reserve for future product returns, including historical return rates, expiration dates by product, estimated levels of inventory in wholesale and retail channels, and any specifically identified anticipated returns due to factors like the loss of patent exclusivity, product recalls, and changes in the competitive environment.


[User] What governs the treatment of goods or services that are not distinct within a contractual arrangement?

[Assistant] Goods or services that are not distinct within a contractual arrangement are combined with other non-distinct goods or services and treated as a single performance obligation. The transaction price is then allocated to each performance obligation based on the relative standalone selling price.


[User] What therapeutic area does the folate receptor alpha antibody drug conjugate MBK-103 target?

[Assistant] MBK-103 targets the treatment of ovarian cancer.


[User] How many Class A common stock shares were issued as a result of warrant exercises during the year ended December 31, 2023?

[Assistant] 5.6 million shares of Class A common stock were issued as a result of warrant exercises.


[User] What was the weighted-average grant-date fair value of stock options granted in 2021, 2022, and 2023?

[Assistant] The weighted-average grant-date fair value of stock options granted in 2021, 2022, and 2023 was $96.50, $79.75, and $65.22 per share, respectively.


[User] How much did Airbnb Ireland agree to pay to the Italian Revenue Agency to settle the 2017-2021 audit period regarding Host income tax obligations?

[Assistant] Airbnb Ireland agreed to pay the Italian Revenue Agency 576 million Euro.


[User] How much direct physical loss or damage protection does the Company’s Host Damage Protection program offer for a host's covered property?

[Assistant] The Company's Host Damage Protection program provides protection of up to $3 million.


[User] What is the expiration date for the federal research and development tax credits as of 2023?

[Assistant] The federal research and development tax credits will begin to expire in 2038 if not utilized.


[User] What were the total revenue figures for Airbnb, Inc. in the years 2021, 2022, and 2023?

[Assistant] The total revenue figures for Airbnb, Inc. were $5.992 billion in 2021, $8.399 billion in 2022, and $9.917 billion in 2023.


[User] What acts does the term 'forward-looking statements' refer to in the context of the text?

[Assistant] The term 'forward-looking statements' refers to the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934.


[User] In which sections of the Form 10-K can forward-looking statements be found according to the text?

[Assistant] Forward-looking statements can be found in the 'Business', 'Risk Factors', and 'Management’s Discussion and Analysis of Financial Condition and Results of Operations' sections of Form 10-K.


[User] What are the common words identified to highlight forward-looking statements in the report?

[Assistant] Common words used to identify forward-looking statements include 'believe', 'project', 'expect', 'anticipate', 'estimate', 'intend', 'strategy', 'future', 'opportunity', 'plan', 'may', 'should', 'will', 'would', and similar expressions.


[User] What risks are associated with relying on forward-looking statements according to the provided text?

[Assistant] The risks associated include the possibility of actual results and events differing materially due to uncertainties and risks.


[User] What can cause delays in pharmaceutical product launches?

[Assistant] Delays in pharmaceutical product launches can be caused by regulatory inconsistencies, unpredictability in approval processes, and varying standards across different markets.


[User] Why do most funds invested in pharmaceutical research and development not generate financial returns?

[Assistant] Most funds invested in pharmaceutical research and development do not generate financial returns due to the high failure rates throughout the development process and substantial investments lost in unsuccessful projects.


[User] What is anticipated regarding the supply of incretin products and the operational status of additional manufacturing capacity?

[Assistant] It is anticipated that tight supplies of incretin products will persist while additional manufacturing capacity is operationalized. Additional internal and contracted manufacturing capacity is expected to become fully operational around the world in the next several years as part of efforts to meet the demand for incretin medicines.


[User] What progress was made in 2023 at the Research Triangle Park production site in North Carolina?

[Assistant] In 2023, production began at the Research Triangle Park site in North Carolina, with plans for significant capacity expansion over time as production increases at this site and others.


[User] How do changes in tax laws and regulations affect the company?

[Assistant] Changes in both domestic and international tax laws or regulations have affected and may affect the effective tax rate, results of operations, and cash flows. These changes include the active proposal and enactment of tax law changes across different countries.


[User] What are the financial and operational impacts of the two-pillar solution and Directive 2022/2523 on the company's tax obligations?

[Assistant] The adoption of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting and the EU's Directive 2022/2523 are expected to increase future years’ tax expense, although no material impact is anticipated for the 2024 consolidated results of operations. Changes to legislative guidance and further enactments could impact assessments beyond 2024.


[User] What are the potential financial effects of the Tax Relief for American Families and Workers Act if enacted?

[Assistant] If enacted, the Tax Relief for American Families and Workers Act is expected to moderately increase the effective tax rate for 2024, result in a net discrete tax detriment in the quarter of enactment related to 2022 and 2023, and lead to a decrease in cash tax payments.


[User] What total amount was paid in 2023 for asset acquisitions in the external research and technologies sector?

[Assistant] In 2023, a total of $3.94 billion was paid for acquired IPR&D, primarily related to acquisitions of DICE, Versanis, Emergence Therapeutics AG, and Mablink Biosciences SAS.


[User] How much did Olumiant revenue increase in percentage terms in 2023?

[Assistant] 11%


[User] What was the total revenue generation of Emgality in 2023?

[Assistant] 678.3


[User] What was the total amount of cash and shares received by VMware stockholders in the 2023 merger?

[Assistant] VMware stockholders received approximately $30.8 billion in cash and 54.4 million shares of Broadcom common stock in aggregate in the 2023 merger.


[User] What was the strategy of the company regarding fiscal year 2023?

[Assistant] The company's strategy in fiscal year 2023 was to combine best-of-breed technology leadership in semiconductor and infrastructure software solutions, with unmatched scale on a common sales and administrative platform to deliver comprehensive infrastructure technology products to leading business and government customers globally.


[User] By what method was net revenue primarily derived by the company?

[Assistant] The company primarily derived net revenue from the sales of a wide range of semiconductor devices incorporated into electronic products, and from software solutions that enable customers to plan, develop, automate, manage, and secure applications across various platforms.


[User] What factors are likely to continue affecting the company's demand for products?

[Assistant] Factors likely to continue affecting the company's demand for products include the gain or loss of significant customers, general economic and market conditions, product inventory and end-customer demand from distributors, the adoption rate of the company's products and technologies, acceptance of customers' products that include the company's technology, and the timing, rescheduling, or cancellation of expected customer orders.


[User] What was the percentage contribution of the semiconductor solutions segment to the total net revenue in 2023?

[Assistant] 79%


[User] What was the growth in operating income for the semiconductor solutions segment from fiscal year 2022 to 2023?

[Assistant] 9%


[User] What was the total unrecognized compensation cost related to unvested stock-based awards as of October 29, 2023?

[Assistant] $6,375 million


[User] How much did the gross margin increase in fiscal year 2023 compared to 2022?

[Assistant] $2,595 million


[User] What was the primary reason for the decrease in amortization of acquisition-related intangible assets in fiscal year 2023?

[Assistant] Lower amortization of customer-related intangible assets from the acquisition of LSI Corporation


[User] What was the change in infrastructure software's operating income from fiscal year 2022 to 2023?

[Assistant] $420 million increase


[User] What was the net change in cash and cash equivalents for Broadcom Inc. in the most recent period reported?

[Assistant] $1,773 million


[User] How much cash did Broadcom Inc. pay for interest and income taxes in the most recent period?

[Assistant] $1,503 million for interest and $1,782 million for income taxes


[User] What was Broadcom Inc.'s total stockholders' equity at the end of the most recent fiscal year?

[Assistant] $23,988 million


[User] How are foreign currency assets and liabilities managed in a U.S. dollar functional currency environment?

[Assistant] Foreign currency assets and liabilities for monetary accounts are remeasured into U.S. dollars at current exchange rates. Non-monetary items such as inventory and property, plant, and equipment are measured and recorded at historical exchange rates.


[User] What methods are used to estimate doubtful accounts in trade accounts receivable?

[Assistant] The allowance for doubtful accounts is estimated based on historical experience and current economic conditions.


[User] What is the role of derivative instruments in managing financial risks?

[Assistant] Derivative instruments like foreign exchange forward contracts and treasury rate lock contracts are used to manage exposure to foreign exchange risk and interest rate risk.


[User] What are Level 1 inputs in the context of fair value measurement?

[Assistant] Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.


[User] How are Level 3 assets measured under fair value hierarchy?

[Assistant] Level 3 assets are measured using a discounted cash flow approach when they are impaired.


[User] What does goodwill represent in accounting?

[Assistant] Goodwill represents the excess of purchase price and related costs over the value assigned to the net tangible and identifiable intangible assets of businesses acquired.


[User] What method is used to calculate the dilutive effect of equity awards and what does it assume?

[Assistant] The dilutive effect of equity awards is calculated using the treasury stock method, which assumes that the amount the employee must pay for exercising stock options and purchasing shares under the ESPP, along with the unrecognized compensation cost for future service, will be used to repurchase shares.


[User] What were the significant contributors to the gross margin contraction and by how many basis points did it contract?

[Assistant] The gross margin contracted by 310 basis maintenance points primarily due to higher product costs, reflecting increased input costs and inbound freight and logistics costs, along with a product mix and lower margins in NIKE Direct due to higher promotional activity and a lower mix of full-price sales.


[User] What factors led to the 15% increase in selling and administrative expense?

[Assistant] The 15% increase in selling and administrative expense was primarily due to higher operating overhead and demand creation expense, with the growth in operating overhead expense mainly driven by higher wage-related costs and increased NIKE Direct variable costs due to new store additions.


[User] What contributed to the revenue growth in Asia Pacific & Latin America for footwear from fiscal 2022 to fiscal 2023?

[Assistant] The revenue growth in Asia Pacific & Latin America for footwear from fiscal 2022 to fiscal 2023, which increased by 11%, was driven by higher unit sales and a higher average selling price (ASP) per pair. The growth in ASP per pair was primarily due to higher full-price ASP and a higher mix of full-price sales.


[User] What were the key reasons for the decrease in apparel revenues in Greater China from fiscal 2022 to fiscal 2023?

[Assistant] The decrease in apparel revenues in Greater China, which fell by 14% on a currency-neutral basis from fiscal 2022 to fiscal 2023, was primarily due to lower revenues in Men's and Women's along with a decrease in unit sales of apparel by 8%.


[User] How did the transition to a distributor operating model impact NIKE Brand's APLA revenue growth in fiscal 2023?

[Assistant] The transition to a distributor operating model reduced NIKE Brand's APLA revenue growth by approximately 5 percentage points in fiscal 2023.


[User] What drove the 22% increase in NIKE Direct revenues in fiscal 2023?

[Assistant] The 22% increase in NIKE Direct revenues in fiscal 2023 was driven by a 23% growth in digital sales and a 28% increase in comparable store sales.


[User] What factors contributed to the reported 2% increase in EBIT for fiscal 2023?

[Assistant] The reported 2% increase in EBIT for fiscal 2023 was primarily due to higher revenues, which were partially offset by a gross margin contraction and higher selling and administrative expenses.


[User] What led to the 308% increase in Global Brand Divisions' revenues from fiscal 2021 to fiscal 2023?

[Assistant] The 308% increase in Global Brand Divisions' revenues from fiscal 2021 to fiscal 2023 was driven by demand creation and operating overhead expenses including product creation and design expenses.


[User] What was the % change in earnings (loss) before interest and taxes from fiscal 2021 to fiscal 2022?

[Assistant] 2% increase


[User] What primarily constitutes the corporate loss before interest and taxes?

[Assistant] The corporate loss before interest and taxes primarily consists of unallocated general and administrative expenses, depreciation related to corporate headquarters, and certain foreign currency gains and losses.


[User] What was the total amount of stock-based compensation expense for cost of revenues in fiscal year 2023?

[Assistant] $499 million


[User] What was the percentage of total subscription and support revenues from the Sales service offering in fiscal year 2023?

[Assistant] 24%


[User] What was the remaining performance obligation as of January 31, 2023?

[Assistant] $48.6 billion


[User] How much did the marketing and sales expenses increase by in fiscal 2023?

[Assistant] In fiscal 2023, marketing and sales expenses increased by $1.3 billion.


[User] What factors led to the decrease in marketing and sales expenses as a percentage of revenue in fiscal 2023?

[Assistant] The decrease in marketing and sales expenses as a percentage of revenue in fiscal 2023 was primarily due to a hiring pause that began in the second half of fiscal, the January 2023 restructuring plan, and decreased marketing expenses.


[User] How much were the costs related to the January 2023 restructuring plan?

[Assistant] In fiscal 2023, approximately $828 million of costs were incurred related to the January 2023 restructuring plan.


[User] What factors significantly impact the cash provided by operating activities?

[Assistant] growth in new business, timing of cash receipts from customers, vendor payment terms, and timing of payments to vendors


[User] What was the net change in unearned revenue that benefited cash from operating activities in fiscal 2023?

[Assistant] $1.7 billion


[User] How much did the provision from the Tax Cuts and Jobs Act increase the cash taxes paid in fiscal 2023?

[Assistant] This increased our cash taxes paid.


[User] How much did the company engage in share repurchases during the fiscal year ended January 31, 2023?

[Assistant] Approximately 28 million shares for approximately $4.0 billion


[User] In which year did lululemon's sales per square foot amount to $1,443?

[Assistant] Lululemon's sales per square foot amounted to $1,443 in the year 2021.


[User] How many retail locations are operated by third parties under license and supply arrangements in Saudi Arabia as of January 28, 2024?

[Assistant] As of January 28, 2024, there are 6 retail locations in Saudi Arabia operated by third parties under license and supply arrangements.


[User] What are the modes through which lululemon serves its guests via e-commerce?

[Assistant] Lululemon serves its guests via e-commerce through websites, digital marketplaces, mobile apps, and includes services such as buy online pick-up in store, back-back room, and ship from store.


[User] What percentage of our full year operating profit was generated in the fourth quarter of 2023?

[Assistant] Approximately 43% of the full year operating profit was generated in the fourth quarter of 2023.


[User] What is the goal amount to be invested to advance equity in well-being by the end of 2025?

[Assistant] The goal is to invest a total of $75.0 million to advance equity in well-being by the end of 2025.


[User] How much has been invested towards the goal of advancing equity in well-being as of January 28, 2024?

[Assistant] As of January 28, 2024, a total of $44.8 million has been invested towards the goal of advancing equity in well-being.


[User] What is the gender composition of the board of directors as of January 28, 2024?

[Assistant] As of January 28, 2024, approximately 50% of the board of directors are women.


[User] What measures are included in the employee benefits offered by the company?

[Assistant] Employee benefits include a parenthood program, competitive compensation, a Fund your Future program, volunteer and empowerment days, an employee assistance program, and reimbursement programs for physical activity.


[User] How much of the $44.8 million invested in lululemon's Centre for Social Impact was contributed directly to social impact organizations?

[Assistant] Of the $44.8 million invested in lululemon's Centre for Social Impact, $32.4 million was contributed directly to social impact organizations.


[User] What is the participation rate in the annual voluntary global survey conducted by the company in 2023?

[Assistant] The participation rate in the annual voluntary global survey in 2023 was approximately 85%.


[User] What was the year-on-year change in the net loss percentage before income taxes from 2022 to 2023?

[Assistant] Decreased by 59.8%


[User] What were the total Adjusted EBITDA figures for the U.S. and International markets combined in 2023?

[Assistant] $425.8 million


[User] How many theatres were operated in 2023 and what was the average number of screens per theatre?

[Assistant] 898 theatres with an average of 11.1 screens per theatre


[User] What factors primarily drove the increase in Adjusted EBITDA in the U.S. markets from 2022 to 2023?

[Assistant] The increase was primarily driven by higher attendance due to new film releases, increased food and beverage sales per patron, higher average ticket prices, other revenue increases, and reduced rent expenses. These were partially offset by increased operating and general and administrative expenses.


[User] What was the amount of additional stock-based compensation expense recognized due to the Type 3 modification in the year ended December 31, 2023?

[Assistant] $20.2 million


[User] How much did depreciation and amortization decrease by in the year ended December 31, 2023?

[Assistant] $31.0 million


[User] What were the non-cash impairment losses recognized on theatres in the U.S. markets during the year ended December 31, 2023?

[Assistant] $49.2 million


[User] What was the net loss for the year ended December 31, 2023?

[Assistant] $396.6 million


[User] By what percentage did admissions revenues increase during the year ended December 31, 2023 compared to the prior year?

[Assistant] 22.7%


[User] How much did the equity in earnings of non-consolidated entities increase in 2023 compared to 2022?

[Assistant] $1.2 million


[User] What does Note 2 in the Annual Report on Form 10-K refer to regarding recent accounting pronouncements?

[Assistant] Note 2 in the Annual Report on Form 10-K refers to information on recently issued accounting pronouncements, if any, as part of the Significant Accounting Policies.


[User] What was the nature of the relationship between Ernst & Young LLP and Palantir Technologies Inc. as stated in their financial audit report?

[Assistant] Ernst & Young LLP served as the independent auditor for Palantir Technologies Inc., and their audits were conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States). They have served as the Company’s auditor since 2008.


[User] What was the conclusion of the financial audit report regarding Palantir Technologies Inc.'s internal controls over financial reporting as of December 31, 2023?

[Assistant] The financial audit reported that Palantir Technologies Inc. maintained effective internal control over financial reporting as of December 31, 2023, based on the criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission.


[User] How did the auditors address the complexity in auditing Palantir Technologies Inc.'s revenue recognition practices?

[Assistant] The auditors addressed the complexity by obtaining an understanding, evaluating the design, and testing the operating effectiveness of the company's controls regarding terms and conditions and performance obligations that impact revenue recognition. They performed substantive procedures including testing completeness and accuracy of management’s identification and evaluation of non-standard terms and conditions, reading executed contracts, and evaluating the company’s application of its revenue recognition policy.


[User] What were the respective net earnings per share for Palantir Technologies Inc. common stockholders in the years 2023, 2022, and 2021?

[Assistant] The net earnings per share for Palantir Technologies Inc. common stockholders were $0.10 in 2023, -$0.18 in 2022, and -$0.27 in 2021.


[User] How much cash and cash equivalents did Palantir Technologies Inc. have as of December 31, 2023?

[Assistant] As of December 31, 2023, Palantir Technologies Inc. had cash and cash equivalents amounting to $831,047,000.


[User] What was the total amount of assets reported by Palantir Technologies Inc. for the years ended December 31, 2023, and 2022?

[Assistant] The total amount of assets reported by Palantir Technologies Inc. was $4,522,425,000 for the year ended December 31, 2023, and $3,461,239,000 for the year ended December 31, 2022.


[User] How much was the total stockholders' equity as of December 31, 2022?

[Assistant] The total stockholders' equity as of December 31, 2022 was $2,565,326 thousand.


[User] What was the amount of total equity reported at the end of 2023?

[Assistant] The total equity reported at the end of 2023 was $3,560,965 thousand.


[User] What criteria must investments meet for Palantir Technologies Inc. to classify them as cash equivalents?

[Assistant] Investments must have an original maturity of three months or less at the time of purchase to be classified as cash equivalents by Palantir Technologies Inc.


[User] What was the net sales of the company in fiscal 2022?

[Assistant] $157.4 billion


[User] How much did the company's net earnings amount to in fiscal 2022?

[Assistant] $17.1 billion


[User] What was the diluted earnings per share for the company in fiscal 2022?

[Assistant] $16.69


[User] How many new stores did the company open in the U.S. during fiscal 2022?

[Assistant] Two


[User] What percentage of the company's total stores were located in Canada and Mexico at the end of fiscal 2022?

[Assistant] 13.6%


[User] What was the total sales per retail square foot for the company in fiscal 2022?

[Assistant] $627.17


[User] What was the inventory turnover ratio at the end of fiscal 2022 for the company?

[Assistant] 4.2 times


[User] How much did a stronger U.S. dollar negatively impact net sales in fiscal 2022?

[Assistant] $339 million


[User] What percentage of net sales did online sales represent in fiscal 2022?

[Assistant] 14.2%


[User] What was the increase in gross profit in dollar terms for fiscal 2022?

[Assistant] $1.9 billion


[User] How much did MedTech segment sales increase from 2022 to 2023?

[Assistant] 10.8%


[User] What was the reason for the increase in Abiomed sales in 2023?

[Assistant] The increase in Abiomed sales was due to the acquisition and continued adoption of Impella 5.5 and Impella RP.


[User] How much did the Vision franchise sales grow in 2023 compared to 2022?

[Assistant] 4.6%


[User] What is TECVAYLI used for?

[Assistant] Treatment of patients with relapsed refractory multiple myeloma with biweekly dosing.


[User] What was the total research and development expense for the company in 2023?

[Assistant] $15,085 million


[User] What was the revenue for the Innovative Medicine segment in 2023?

[Assistant] $11,963 million


[User] What factors primarily drove the flat research and development expenses as a percentage to sales in 2023?

[Assistant] Higher milestone payments in the Innovative Medicine business and the acquisition of an in-process research and development asset from the Laminar acquisition in the MedTech business.


[User] What was the recorded charge for in-process research and development impairments (IPR&D) in the fiscal year 2023?

[Assistant] Approximately $0.3 billion


[User] What was the key reason for the termination of the development of bermekimab by the company?

[Assistant] Additional information regarding efficacy of indications led to the decision to terminate the development of bermekimab for both Atopic Dermatitis (AD) and Hidradenitis Suppurativa (HS).


[User] What changes led to a significant increase in Other (income) Expense, Net in 2023 compared to 2022?

[Assistant] Primary factors included a substantial increase in litigation related expenses, partially offset by lower costs associated with COVID-19 vaccine manufacturing exit and changes in the fair value of securities.


[User] What are the key components of the company's human capital management that the board of directors monitors?

[Assistant] The board of directors engages with management to monitor initiatives related to attracting, retaining, engaging, and developing a workforce aligned with the company's values and mission.


[User] How many employees did the company have at the end of 2023, and how many of these were engaged in research and development activities?

[Assistant] The company employed approximately 43,000 people, of which about 10,000 were engaged in research and development activities.


[User] What types of proceedings is the company currently involved in?

[Assistant] The company is currently involved in legal actions, government investigations, and environmental proceedings.


[User] What factors contributed to the increase in revenue in 2023?

[Assistant] The increase in revenue in 2023 was driven by increased volume and higher realized prices, primarily from sales of Mounjaro®, Verzenio®, Jardiance®, sales of the rights for the olanzapine portfolio, including Zyprexa®, and Baqsimi®, partially offset by the absence of revenue from COVID-19 antibodies and lower sales of Alimta® after generics entered the market in the first half of 2022.


[User] What factors led to the decline in net income and earnings per share in 2023?

[Assistant] The decrease in net income and earnings per share in 2023 was primarily due to higher acquired in-process research and development (IPR&D) charges and increased expenses in research and development, marketing, selling, and administrative, as well as income taxes, partially offset by the increase in revenue.


[User] How many new medicine candidates are currently in clinical development or under regulatory review?

[Assistant] Approximately 50


[User] What is the approval status of Tirzepatide (Mounjaro, Zepbound®) for the treatment of obesity as of 2023?

[Assistant] Approved


[User] What is the purpose of the Breakthrough Therapy designation in the development of medicines?

[Assistant] The Breakthrough Therapy designation aims to expedite the development and review of potential medicines that are intended to treat a serious condition and show preliminary clinical evidence of substantial improvement over existing therapies on a clinically significant endpoint.


[User] What are common challenges in pharmaceutical research and development?

[Assistant] Pharmaceutical research and development face challenges such as high failure rates, significant cost and time requirements, regulatory hurdles, unpredictable drug approval processes, and difficulties in predicting demand or managing supply.


[User] What contingencies may affect the continued approval of a pharmaceutical product after initial approval?

[Assistant] Continued approval of a pharmaceutical product may be contingent on confirming its clinical benefits in Phase III trials, among other possible conditions.


[User] What major corporate transactions did AbbVie engage in at the end of 2023 and early 2024?

[Assistant] At the end of 2023, AbbVie engaged in the acquisition of ImmunoGen and proposed acquisition of Cerevel Therapeutics. Additionally, on February 12, 2024, AbbVie borrowed $5.0 billion under the term loan credit agreement entered into on December 21, 2023.


[User] What were the pre-tax amounts of (gains) losses from foreign currency forward exchange contracts designated as cash flow hedges for the years ended December 31 from 2021 to 2023?

[Assistant] The pre-tax amounts were gains of $82 million in 2021, gains of $103 million in 2022, and losses of $2 million in 2023.


[User] What was the estimated probability of payment excluding approved indications as of December 31, 2023?

[Assistant] 89%


[User] What was the accumulated benefit obligation for pension plans as of December 31, 2023?

[Assistant] $8.6 billion


[User] What are the primary types of equity accounts used within U.S. large cap investment classifications?

[Assistant] A mix of index funds and actively managed equity accounts are used within U.S. large cap investment classifications.


[User] How many countries and territories does Visa facilitate global commerce in?

[Assistant] more than 200 countries and territories


[User] What is the purpose of Visa according to the overview provided?

[Assistant] to uplift everyone, everywhere by being the best way to pay and be paid


[User] What is VisaNet?

[Assistant] Visa's proprietary advanced transaction processing network, designed to offer a single connection point for facilitating payment transactions to multiple endpoints through various form factors


[User] What model does Visa traditionally refer to regarding their transaction process among consumers, financial institutions, and merchants?

[Assistant] the 'four-party' model


[User] What significant milestone of transactions did Visa reach during fiscal year 2023?

[Assistant] 276 billion payments and cash transactions


[User] What types of share-based compensation awards does Procter & Gamble offer to certain managers and directors, and what are the main characteristics of these awards?

[Assistant] Procter & Gamble offers stock options, restricted stock units (RSUs), and performance stock units (PSUs) as share-based compensation awards to certain managers and directors. The main characteristics include stock options and RSUs being available annually for managers to elect, with all options vesting after three years and having a ten-year life. Exercise prices are set equal to the market price on the grant date. RSUs vest and settle in shares three years from the grant date. PSUs are awarded to senior-level executives and are paid in shares after a three-year performance period subject to pre-established goals, with the number of shares granted also impacted by the company's actual shareholder return relative to its peer set.


[User] What are the primary forms of retiree benefits offered by the Company and who is eligible for these benefits?

[Assistant] The primary forms of retiree benefits offered by the Company are primarily health care benefits. These benefits are eligible for the majority of U.S. employees who meet minimum age and service requirements.


[User] What is the expected long-term rate of return for equities and bonds in Procter & Gamble's defined benefit retirement plans?

[Assistant] The expected long-term rates of return for equities is 8-9% and for bonds is 3-5%.


[User] What are investments primarily valued at net asset value categorized as?

[Assistant] Investments valued at net asset value are primarily categorized as equity and fixed income collective funds.


[User] What is the classification of cash equivalents within the fair value hierarchy as of June 30, 2023?

[Assistant] Cash equivalents were classified as Level 1 within the fair value hierarchy as of June 30, 2023.


[User] What was the amount due for the 0.55% USD note as of June 30, 2023?

[Assistant] The amount due for the 0.55% USD note as of June 30, 2023, was $1,000 million.


[User] When did Costco Wholesale Corporation begin its operations?

[Assistant] Costco Wholesale Corporation began its operations in 1983.


[User] In which city and state did Costco originally start its business?

[Assistant] Costco originally started its business in Seattle, Washington.


[User] What is the primary business model of Costco Wholesale Corporation?

[Assistant] The primary business model of Costco Wholesale Corporation is the operation of membership warehouses.


[User] How many warehouses did Costco operate worldwide as of September 3, 2023?

[Assistant] As of September 3, 2023, Costco operated 861 warehouses worldwide.


[User] How much did the stock-based compensation cost for Costco in the fiscal year ending on September 3, 2023?

[Assistant] The stock-based compensation for Costco in the fiscal year ending on September 3, 2023, was 778 million dollars.


[User] What was the balance of net cash used in financing activities for Costco for the 52 weeks ended August 28, 2022?

[Assistant] The balance of net cash used in financing activities for Costco for the 52 weeks ended August 28, 2022, was 4,283 million dollars.


[User] What were the major changes in cash flows from operating activities for Costco from the fiscal year 2021 to 2023?

[Assistant] The net cash provided by operating activities increased from 8,958 million dollars in the fiscal year ending August 29, 2021, to 11,068 million dollars in the fiscal year ending September 3, 2023.


[User] How does the company classify its short-term investments?

[Assistant] The company classifies its short-term investments based on their maturities and liquidity. Investments with maturities of three months to five years are generally considered short-term, especially if they are highly liquid and represent the investment of cash available for current operations. Investments that may have maturities beyond five years can also be classified as short-term if they're considered highly liquid and are intended for current operations.


[User] What methodology does the company use to value its merchandise inventories in the United States and Canada?

[Assistant] In the United States, merchandise inventories are valued using the last-in, first-out (LIFO) method while in Canada, merchandise inventories are predominantly valued using the first-in, first-out (FIFO) basis.


[User] What determines the fair value of available-for-sale short-term investments?

[Assistant] The fair value of available-for-sale short-term investments is determined primarily by changes in interest rates and market liquidity.


[User] What are the estimated useful lives of the buildings and improvements according to the company's financial documents for 2023?

[Assistant] The estimated useful lives of the buildings and improvements are between 5 to 50 years.


[User] What total amount did the company recognize as impairment charges for property and equipment in 2023?

[Assistant] The company recognized immaterial impairment charges for property and equipment in 2023.


[User] What options does the company have at the end of the lease term for their leased properties?

[Assistant] At the end of the lease term, the company has options to renew the lease, purchase the property, or exercise a right of first refusal if there's a third-party offer.


[User] What type of contracts does the company use to mitigate the fluctuation risks in energy prices, particularly electricity and natural gas?

[Assistant] The company uses fixed-price contracts for certain of its warehouses and other facilities to mitigate the fluctuation risks in energy prices, particularly electricity and natural gas.


[User] How much did DARZALEX sales increase in 2023 compared to the previous year?

[Assistant] 22.2%


[User] What were the total sales of STELARA in the United States in 2023?

[Assistant] Approximately $7.0 billion


[User] What was the percentage decrease in sales for REMICADE in 2023 due to biosimilar competition?

[Assistant] 18.9%


[User] By what percentage did Pulmonary Hypertension products sales increase in 2023 compared to the previous year?

[Assistant] 11.6%


[User] What is the expected market entry year for a biosimilar version of STELARA in the United States?

[Assistant] 2025


[User] What was the revenue decline percentage for Cardiovascular/Metabolism/Other products in 2023?

[Assistant] 5.5%


[User] What is ciltacabtagene autoleucel used for?

[Assistant] Treatment for relapsed and refractory multiple myeloma with 1-3 PL.


[User] What age group is EDURANT approved to treat for HIV?

[Assistant] Pediatric patients aged 2-12 years.


[User] What medical condition does OPSUMIT treat?

[Assistant] Pediatric pulmonary arterial hypertension.


[User] What is ERLEADA used for?

[Assistant] Tablet reduction.


[User] How are the costs associated with product recalls and corrective actions recognized in the financial statements?

[Assistant] Costs of product recalls and corrective actions are recognized in Connected Fitness Products cost of revenue.


[User] What triggers the company to accrue for the cost of product recalls and corrective actions?

[Assistant] The accrual for the cost of product recalls and corrective actions is triggered when management commits to a corrective action plan or when regulatory requirements mandate it.


[User] What was the accrued liability for product recall related matters as of the end of the fiscal year on June 30, 2023?

[Assistant] $63.4 million


[User] What factors are considered in determining the estimated future warranty costs for connected fitness and Precor branded fitness products?

[Assistant] Factors considered include historical and current product failure rates, service delivery costs incurred in correcting product failures, and warranty policies and business practices.


[User] What factors are considered by a company to determine if a transaction should be accounted for as a business combination or an asset acquisition?

[Assistant] To determine if a transaction should be accounted for as a business combination or an asset acquisition, a company considers whether the transaction includes an input and a substantive process that together significantly contribute to the ability to create outputs. Additionally, if substantially all of the fair value of gross assets included in a transaction is concentrated in a single asset or a group of similar assets, it will not be considered a business.


[User] How are the fair values of intangible assets determined in a business combination?

[Assistant] The fair values of intangible assets in a business combination are determined utilizing information available near the acquisition date, based on expectations and assumptions that are considered reasonable by management.


[User] What happens if the purchase price in a business combination exceeds the estimated fair values of the net assets acquired?

[Assistant] If the purchase price exceeds the estimated fair values of the net assets acquired in a business combination, any excess is recorded as goodwill.


[User] How are loss contingencies accounted for in financial statements?

[Assistant] Loss contingencies are recorded as a liability when it is probable that a loss has been incurred and the amount can be reasonably estimated. If a loss is reasonably possible and the loss or range of loss can be reasonably estimated, it is disclosed in the accompanying notes to the consolidated financial statements. If the loss or range of loss cannot be reasonably estimated, it is stated that an estimate cannot be made.


[User] What is considered during the measurement period in a business combination?

[Assistant] During the measurement period, which does not exceed one year from the date of acquisition in a business combination, amounts recorded may change as additional information about conditions that existed at the acquisition date becomes available.


[User] What factors influence adjustments to provisions and changes to disclosures related to contingencies in financial statements?

[Assistant] Adjustments to provisions and changes to disclosures related to contingencies in financial statements are influenced by developments such as negotiations, settlements, rulings, advice of legal counsel, and updated information, which could impact the provisions previously recorded and the matters and related reasonably possible losses disclosed.


[User] What is the effect of a 0.75% increase in completion factors on medical costs payable as of December 31, 2023?

[Assistant] An increase of $880 million.


[User] What could potentially influence the medical cost per member per month (PMPM) trend factors?

[Assistant] Pharmacy utilization trends, inpatient hospital authorization data, and seasonal and other incidence data from the National Centers for Disease Control.


[User] How would a hypothetical 1% increase in actual medical costs payable compared to estimates affect the 2023 net earnings?

[Assistant] It would increase or decrease by approximately $245 million.


[User] What factors could lead to a difference between the estimated medical costs payable and actual medical costs incurred?

[Assistant] Claim submission rates, care activity levels influenced by pandemics or seasonal illnesses, and claim processing patterns.


[User] What are some factors considered when evaluating goodwill for impairment?

[Assistant] Macroeconomic, industry, and market factors, as well as cost factors, changes in overall financial performance, and other relevant events and uncertainties.


[User] What assumptions underlie financial estimates during the goodwill impairment testing process?

[Assistant] Assumptions include revenue trends, medical costs trends, operating productivity, income taxes, capital levels, long-term growth rates, and discount rates.


[User] What criteria are used to establish investment policies for marketable securities?

[Assistant] Limits on the amount that can be invested in any one issuer and the requirement that investments be restricted mostly to U.S. government and agency securities, state and municipal securities, and corporate debt obligations of investment grade.


[User] What could cause variations in the estimated medical cost trends compared to actual outcomes?

[Assistant] Factors such as the mix and level of services utilized, benefit mixes, changes in medical practices, and occurrences of catastrophes, epidemics, or pandemics.


[User] What potential financial risk does ASPEVELO face due to concentrations of credit risk?

[Assistant] Risks associated with investments in financial instruments like marketable securities and accounts receivable, managed under a company-specific investment policy.


[User] How are changes in economic factors considered in the assessment of disability insurance claims?

[Assistant] Economic factors such as GDP growth, employment trends, and disposable income levels are considered in the estimation of liabilities for benefit claims.


[User] What is the effective date for the new accounting standard ASU No. 2022-04 regarding liabilities in supplier finance programs?

[Assistant] ASU No. 2022-04 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years.


[User] What was the total value of lease liabilities recorded as of January 29, 2023?

[Assistant] $10,456 million


[User] What is the interest payment frequency and maturity date for the 2.70% senior notes issued in March 2022?

[Assistant] The interest on the 2.70% senior notes issued in March 2022 is paid semi-annually, and these notes mature on April 15, 2025.


[User] What is the principal amount of debt maturing in fiscal year 2023?

[Assistant] $1,000 million


[User] What was the net deferred tax liability on January 29, 2023?

[Assistant] $700 million


[User] How many deferred shares were granted to non-employee directors in fiscal 2020, 2021, and 2022?

[Assistant] In fiscal 2020, 18,000 deferred shares were granted to non-employee directors, in fiscal 2021, 15,000, and in fiscal 2022, 19,000.


[User] How many customers does Walmart serve weekly?

[Assistant] Walmart serves approximately 240 million customers each week.


[User] What is Walmart's EDLP strategy?

[Assistant] EDLP, or Everyday Low Prices, is Walmart's pricing philosophy where items are priced low every day to build customer trust and avoid frequent promotional changes.


[User] How does Walmart's Omni-channel experience integrate its retail stores with eCommerce?

[Assistant] Walmart integrates its retail stores with eCommerce by offering pickup and delivery services, including in-home and same-day delivery options, enhancing the customer-centric experience.


[User] What percentage of Walmart's fiscal 2023 consolidated net sales were made up by the Walmart U.S. segment?

[Assistant] For fiscal 2023, the Walmart U.S. segment accounted for 69% of Walmart's consolidated net sales.


[User] What were the total net earnings of Johnson & Johnson in the year 2023?

[Assistant] $35,153 million


[User] What percentage of Kenvue Common Stock did Johnson & Johnson own as of the closing of the IPO?

[Assistant] 89.6%


[User] What percentage of annual net trade sales did the sales returns reserve for the total Company account for during each of the fiscal years 2021, 2022, and 2023?

[Assistant] Less than 1.0%


[User] What is the total amount of property, plant, and equipment, net, reported by the company for the fiscal year 2023?

[Assistant] $19,898 million


[User] What was the balance of deferred net loss on derivatives included in accumulated other comprehensive income as of December 31, 2023?

[Assistant] $377 million after-tax


[User] What was the total gross asset amount in the year 2023?

[Assistant] $1,591 million


[User] What was the current debt balance of commercial paper as of December 31, 2023, including its weighted average interest rate and maturity?

[Assistant] The current debt balance of commercial paper as of December 31, 2023, was $2.0 billion, with a weighted average interest rate of 5.37% and a maturity of approximately two months.


[User] How did the loss on certain U.S. affiliates impact the Company's effective tax rate in the fiscal fourth quarter of 2021?

[Assistant] The loss on certain U.S. affiliates reduced the Company's effective tax rate by approximately 1.6% in the fiscal fourth quarter of 2021.


[User] How are the gain and loss amounts associated with pension plans amortized in the company's financial statements?

[Assistant] Gain and loss amounts associated with pension plans are amortized over the average remaining future service of each plan. For plans without active employees, the amounts are amortized over the average life expectancy. Additionally, the amortization for other U.S. benefit plans is determined by using a 10% corridor of the greater of the market value of assets or the accumulated postretirement benefit obligation, with excess amounts amortized over the average remaining future service.


[User] What was the fair value of equity securities in the retirement plans for 2023?

[Assistant] $7,764 million


[User] What are the new SBTi goals the company plans to adopt by the end of fiscal 2023?

[Assistant] reduce Scope 1, 2, and 3 emissions in line with Paris Agreement goals


[User] What is the company's percentage target for reducing Scope 1 and 2 carbon emissions by end of fiscal 2035?

[Assistant] 50%


[User] What awards did the company receive in 2022 for environmental and safety achievements?

[Assistant] EPA WaterSense Partner of the Year, EPA SmartWay High Performer, EPA Safer Choice Partner of the Year, EPA ENERGY STAR Partner of the Year


[User] What is the purpose of The Home Depot Foundation?

[Assistant] improve the homes and lives of U.S. veterans and assist communities affected by natural disasters


[User] What is the Path to Pro program related to?

[Assistant] training and connecting the next generation of skilled tradespeople to industry leaders


[User] What does the company's supplier diversity program involve?

[Assistant] development and resources for diverse suppliers


[User] What criterion must companies meet to join the Billion Dollar Roundtable Inc.?

[Assistant] spend $1.0 billion or more annually with minority- and woman-owned suppliers


[User] How does the company ensure compliance with U.S. and international laws?

[Assistant] subject to the laws of the U.S. and foreign jurisdictions, and rules and regulations of various governing bodies


[User] How can the public access the company's financial and legal reports?

[Assistant] through the Investor Relations section of their website


[User] What is the threshold amount for disclosure of environmental proceedings under SEC regulations for the Company?

[Assistant] The threshold amount for the Company to disclose environmental proceedings under SEC regulations is $1 million.


[User] How much interest does Chevron hold in the production sharing contract for deepwater Block 14?

[Assistant] 31 percent


[User] When does Chevron's production sharing contract for deepwater Block 14 expire?

[Assistant] 2028


[User] What is the capacity of Angola LNG Limited’s onshore natural gas liquefaction plant in Soyo, Angola?

[Assistant] 1.1 billion cubic feet of natural gas per day


[User] What type of plant is the Angola LNG Limited’s facility in Soyo, Angola recognized as?

[Assistant] The world’s first liquefied natural gas (LNG) plant


[User] When is the first production at the New Gas Consortium Project (NGC) in the Quiluma and Maboqueiro fields expected?

[Assistant] 2026


[User] What development features are included in the Quiluma and Maboqueiro fields?

[Assistant] Two wellhead platforms and an onshore gas treatment plant


[User] What percentage interest does Chevron hold in the Lianzi Unitization Zone in the Joint Development Area between Angola and Republic of Congo?

[Assistant] 31.25 percent


[User] When does Chevron's interest in the Lianzi Unitization Zone expire?

[Assistant] 2031


[User] What was Chevron's total average daily sales of natural gas in the U.S. in 2023?

[Assistant] 4.7 billion cubic feet per day


[User] What is the expected increase in capacity for Chevron's project that reached final investment decision in February 2024?

[Assistant] increase to approximately 1.6 billion cubic feet of gas per day


[User] How do government regulations impact the issuance and acquisition of Visa cards in certain jurisdictions?

[Assistant] Government regulations prevent financial institutions or other entities that are domiciled in countries or territories subject to comprehensive OFAC trade sanctions, or those included on OFAC’s list of Specially Designated Nationals and Blocked Persons, from issuing or acquiring Visa cards or engaging in transactions using Visa products and services.


[User] What actions have governments in Asia taken regarding domestic payments systems?

[Assistant] Governments in countries like China, India, Indonesia, Thailand, and Vietnam promote domestic payments systems and certain issuers by imposing regulations that favor domestic providers, impose local ownership requirements on processors, require data localization, or mandate that domestic processing be done within the country.


[User] How are interchange rates regulated internationally?

[Assistant] Interchange rates are regulated internationally through specific laws like the Dodd-Frank Wall Street Reform and Consumer Act in the U.S., which limits interchange rates for certain debit transactions, and the EU Interchange Fee Regulation (IFR) which sets limits within the European Economic Area. Additionally, central banks such as the Reserve Bank of Australia and the Central Bank of Brazil regulate permissible levels of interchange.


[User] What types of Internet transactions are regulated by jurisdictions globally?

[Assistant] Many jurisdictions globally have adopted regulations that require payments system participants to monitor, identify, filter, restrict, or take other actions regarding certain types of payment transactions on the Internet, including those involving gambling, digital currencies, and the purchase of regulated products like cigarettes or alcohol.


[User] What limitations are imposed by the Dodd-Frank Act on network exclusivity and merchant routing in the U.S.?

[Assistant] The Dodd-Frank Act imposes limitations on network exclusivity by restricting merchant routing choices for debit and prepaid market segments in the U.S.


[User] How is Visa's business impacted by privacy and data protection regulations?

[Assistant] Privacy and data protection regulations impact Visa's operations by influencing how data is used and handled, which in turn affects the operation of Visa's products and services and its ability to offer certain products or services.


[User] What type of supervisory oversight is Visa subject to in the United States?

[Assistant] In the United States, Visa is under the supervisory oversight of the Federal Banking Agencies which include the Federal Reserve Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration. Additionally, it may be examined by the Consumer Financial Protection Bureau as a service provider to banks issuing Visa-branded credit and debit card products.


[User] Under which item can the consolidated financial statements including details about legal matters be found?

[Assistant] Item 8


[User] What topic does Note 20 cover in the report?

[Assistant] Legal Matters


[User] What is the main purpose of the Management’s Discussion and Analysis section in Visa's report?

[Assistant] The main purpose of the Management’s Discussion and Analysis section is to provide a review of Visa Inc.'s results of operations, financial condition, and liquidity and capital resources on a historical basis, and to discuss factors that have affected recent earnings and those that may affect future earnings.


[User] How does Berkshire view the potential financial impact of other pending legal actions?

[Assistant] Berkshire currently believes that any liability arising from other pending legal actions will not have a material effect on their consolidated financial condition or results of operations.


[User] What was the after-tax earnings from insurance underwriting for Berkshire Hathaway in 2023?

[Assistant] The after-tax earnings from insurance underwriting for Berkshire Hathaway in 2023 were $5.4 billion.


[User] What contributed to the decline in BNSF's earnings in 2023?

[Assistant] The decline in BNSF's earnings in 2023 was primarily due to lower overall freight volumes and higher non-fuel operating costs, partially offset by lower fuel costs.


[User] How did the ownership change of Pilot Travel Centers affect its consolidation into Berkshire Hathaway's results?

[Assistant] Berkshire Hathaway increased its ownership in Pilot Travel Centers to 80% on January 31, 2023, and began consolidating its results from February 1, 2023.


[User] What was GEICO's pre-tax underwriting earnings in 2023?

[Assistant] GEICO's pre-tax underwriting earnings in 2023 were $3,635 million.


[User] How did GEICO's loss ratio in 2023 compare to 2022?

[Assistant] GEICO's loss ratio in 2023 was 81.0%, which was a decrease of 12.1 percentage points compared to 2022.


[User] What are the primary marketing methods used by GEICO?

[Assistant] GEICO primarily markets its policies through direct response methods, allowing customers to apply directly via the Internet or over the telephone.


[User] What was the amount of premiums written by Berkshire Hathaway's Insurance Underwriting in 2023, and how did it compare to the previous year?

[Assistant] In 2023, the premiums written amounted to $18,142 million, which was an increase of $3,523 million or 24.1% from 2022 where the premiums written were $14,619 million.


[User] How much did the losses and loss adjustment expenses rise in 2023 compared to 2022, and what was the main cause for this increase?

[Assistant] In 2023, losses and loss adjustment expenses rose by $1.335 billion or 13.5% compared to 2022. This increase was primarily due to lower incurred losses from current year catastrophes and changes in business mix, including the impact of RSUI and CapSpecialty.


[User] What was the primary source of the increase in premiums written by Berkshire Hathaway's Property/Casualty reinsurance in 2023?

[Assistant] The primary source of the increase in premiums written in Berkshire Hathaway's Property/Casualty reinsurance in 2023 was a total contribution of $5.3 billion from the TransRe Group.


[User] In how many countries are Eli Lilly and Company's products sold?

[Assistant] Eli Lilly and Company's products are sold in approximately 105 countries.


[User] How does Eli Lilly and Company market its products in the U.S.?

[Assistant] In the U.S., Eli Lilly and Company promotes its major products through sales representatives who engage with physicians and other healthcare professionals, educates healthcare providers about its products in various ways including online, and advertises directly to consumers.


[User] What is the maximum duration for patent term restoration for pharmaceutical products in the U.S.?

[Assistant] The maximum duration for patent term restoration for pharmaceutical products in the U.S. is five years, and no patent expiration date may be extended beyond 14 years from FDA approval.


[User] How long can a European patent be extended through Supplementary Protection Certificates?

[Assistant] A European patent can be extended up to an additional five years through Supplementary Protection Certificates, subject to a 15-year cap from European Medicines Agency (EMA) approval.


[User] What is the maximum additional exclusivity period granted by the FDA for approved drugs that undergo pediatric testing?

[Assistant] The maximum additional exclusity period granted by the FDA for approved drugs that undergo pediatric testing is six months, which is added to the term of data protection, orphan drug exclusivity, and, for products other than biologics, to the term of any relevant and non-expired patents.


[User] What does orphan drug designation entail in the U.S.?

[Assistant] Orphan drug designation in the U.S. entitles a particular use of the drug to seven years of market exclusivity, intended for conditions affecting fewer than 200,000 people, or where recovery of development and marketing costs through U.S. sales is not expected.


[User] How long is the base period of data package protection in the U.S., Europe, and Japan?

[Assistant] The base period of data package protection is generally five years in the U.S., effectively 10 years in Europe, and eight years in Japan.


[User] What are the intellectual property protections offered under the TRIPs Agreement?

[Assistant] The TRIPs Agreement administered by the World Trade Organization provides global protection for certain intellectual property rights.


[User] What is the maximum extension period for Japanese patent terms?

[Assistant] Japanese patent terms can be extended up to five years.


[User] What is the duration of data protection for biosimilar products under the BPCIA before the FDA can approve an application?

[Assistant] 12 years


[User] What is the coverage area of The Home Depot's express car and van delivery service?

[Assistant] The Home Depot's express car and van delivery service covers over 80% of the U.S. population.


[User] What is The Home Depot's strategic intent regarding its delivery services?

[Assistant] The Home Depot's strategic intent with its delivery services is to offer a portfolio of efficient, timely, and reliable sources and methods of delivery, optimizing order fulfillment based on customer needs, inventory locations, and available transportation options.


[User] What changes were introduced in The Home Depot's store leadership structure in fiscal 2022?

[Assistant] In fiscal 2022, The Home Depot introduced a new store leadership structure by creating new management positions focused on the customer service experience, which increased the number of managers on the floor at any given time.


[User] How does The Home Depot ensure associate engagement?

[Assistant] The Home Depot ensures associate engagement by continuously listening and acting on associate feedback, conducting several pulse check surveys throughout the year, and maintaining a digital associate engagement platform to fuel connections with co-workers and leaders.


[User] What is the focus of The Home Depot's Office of Diversity, Equity and Inclusion?

[Assistant] The Home Depot's Office of Diversity, Equity and Inclusion focuses on promoting associate diversity, supplier diversity, and engagement with communities.


[User] What compensation and benefit programs does The Home Depot offer to its associates?

[Assistant] The Home Depot offers competitive compensation, comprehensive benefits including healthcare, wellness programs, vacation and leave benefits, a 401(k) match, ESPPs, personal finance education, assistance programs for personal and work-life challenges, family support programs, and educational assistance.


[User] What are The Home Depot's goals related to environmental sustainability?

[Assistant] The Home Depot aims to reduce its environmental impact through goals such as cleaning products chemical reduction, science-based carbon emissions reduction, recyclable packaging, increasing renewable/alternative energy sources, and achieving 100% renewable electricity for all its facilities by the end of fiscal 2030.


[User] What does the company use to make their supply chain more environmentally responsible?

[Assistant] hydrogen fuel cell technology in forklifts


[User] What score did the company receive from CDP in February 2023?

[Assistant] B


[User] How does Google Cloud generate its revenues?

[Assistant] Google Cloud generates revenues primarily through consumption-based fees and subscriptions for various services including infrastructure, platform, collaboration tools, and other cloud services.


[User] What are the major capabilities of Google Cloud that cater to customer needs?

[Assistant] Google Cloud offers key capabilities such as AI-optimized infrastructure, cybersecurity, databases, analytics, collaboration tools via Google Workspace, and an AI platform with services for developing and deploying applications.


[User] What are Alphabet's primary business segments and how are they reported?

[Assistant] Alphabet reports its primary businesses in two main segments: Google Services and Google Cloud. Additionally, all non-Google businesses are collectively reported as Other Bets.


[User] What long-term trends have contributed to Alphabet's financial results?

[Assistant] Long-term trends contributing to Alphabet's financial results include the shift of users' behaviors and advertising online, increased competition for user engagement and advertisers, diverse devices and modalities used to access Alphabet's products, and evolving online advertising affecting monetization.


[User] How does the evolution of the online world impact Alphabet's business?

[Assistant] The evolution of the online world has positively impacted Alphabet's business by contributing to the growth of its revenues, although growth has slowed post-COVID-19 pandemic.


[User] What challenges does Alphabet face in terms of revenue generation?

[Assistant] Alphabet faces challenges such as increased saturation in developed smartphone markets, competitive pressures in advertising, and changes in monetization as online advertising evolves.


[User] How does Alphabet expect to manage the fluctuating costs associated with Traffic Acquisition Costs (TAC)?

[Assistant] Alphabet anticipates that the TAC paid to partners will increase with revenue growth and will be influenced by factors such as device and geographic mix, partner agreements, and the percentage of paid queries.


[User] What are some of the international challenges and opportunities Alphabet is facing?

[Assistant] Alphabet continues to face challenges from foreign exchange rate fluctuations but sees opportunities in developing markets like India, where localized products and services could lead to increased revenues despite initially lower monetization rates.


[User] In what ways is Alphabet diversifying its revenue streams beyond advertising?

[Assistant] Alphabet is expanding its revenue sources by growing its cloud services, consumer subscriptions, platforms, and devices sectors, which generally have lower margins compared to traditional advertising revenues.


[User] How is Alphabet investing in its future growth and infrastructure?


[User] What significant roles did W. Craig Jelinek hold before becoming CEO?

[Assistant] Before becoming CEO, W. Craig Jelinek was President and Chief Operating Officer from February 2010 to December 2011 and Executive Vice President, Chief Operating Officer, Merchandising since 2004.


[User] How many employees were there in the United States segment in 2023?

[Assistant] In 2023, there were 208,000 employees in the United States segment.


[User] What percentage of the company's U.S. employees had a retention rate of approximately 90% in 2023?

[Assistant] In 2023, approximately 90% of the company's U.S. employees who have been with the company for at least one year had a retention rate of about 90%.


[User] What additional benefits were expanded in the U.S. in 2023?

[Assistant] In 2023, additional mental health support for children and adults was expanded at little to no cost to U.S. employees.


[User] Who is the Chief Financial Officer and since when?

[Assistant] Richard A. Galanti is the Executive Vice President and Chief Financial Officer, and he has been in this role since 1993.


[User] What percentage of Costco's employee base was full-time in 2023?

[Assistant] In 2023, Costco targeted that at least 50% of its employee base be full-time employees.


[User] What do Note 10 and Item 8 of the report encompass?

[Assistant] Note 10 and Item 8 of the report encompass the discussion of Legal Proceedings.


[User] What is the title of Item 6 in the text?

[Assistant] Reserved


[User] What are the key elements included in net sales according to the Management's Discussion and Analysis?

[Assistant] Net sales includes core merchandise categories like foods and sundries, non-foods, and fresh foods, as well as warehouse ancillary services such as gasoline, pharmacy, optical, food court, hearing aids, and tire installation, and other businesses like e-commerce, business centers, and travel.


[User] How is comparable sales defined and what does it measure?

[Assistant] Comparable sales is defined as net sales from warehouses open for more than one year, including remodels, relocations and expansions, and sales related to e-commerce websites operating for more than one year. It measures sales growth by comparing the current sales to those from the same period in the previous year.


[User] What safety policies does Chevron have in place for its employees?

[Assistant] Chevron empowers every worker to exercise stop-work authority without repercussion to address any potential unsafe work conditions, and expects leaders to prioritize the safety and health of its workforce and the protection of communities, the environment, and the company's assets.


[User] What is Chevron's approach towards maintaining a diverse and inclusive supply chain?

[Assistant] Chevron aims to support a supply chain that reflects the diversity of the communities where it operates, believing that a diverse supply chain contributes to the company's success and growth.


[User] What programs does Chevron have to support employee well-being and address workplace issues?

[Assistant] Chevron offers the Ombuds, a company hotline, and an Employee Assistance Program; all designed to help employees address and resolve a range of workplace, personal, and family issues.


[User] What is the gross acreage in the United States mentioned in the table for acreage distribution at Chevron as of December 31, 2023?

[Assistant] 8,315 thousand acres


[User] What was the net production increase percentage of Chevron's worldwide oil-equivalent from 2022 to 2023?

[Assistant] 4 percent


[User] How many gross undeveloped acres at Chevron are set to expire in 2024 if production is not established by the required date?

[Assistant] 3,333 acres


[User] What are Chevron's gross and net acres in Asia as of December 31, 2023?

[Assistant] Gross: 20,825 thousand acres, Net: 10,475 thousand acres


[User] What is the total net acres managed by Chevron affiliates as mentioned in the table for acreage distribution?

[Assistant] 338 thousand acres


[User] How much acreage does Chevron have under development or lease globally as of the end of 2023?

[Assistant] 63,730 thousand acres


[User] What is the volume of natural gas Chevron is contractually committed to deliver in the United States from 2024 through 2026?

[Assistant] 746 billion cubic feet


[User] What were the dividends on preferred shares for the years ended December 31, 2021, 2022, and 2023?

[Assistant] The dividends on preferred shares were $71 million, $57 million, and $58 million for the years ended December 31, 2021, 2022, and 2023, respectively.


[User] What was the net increase or decrease in cash and cash equivalents from the beginning to the end of the year, according to the given figures?

[Assistant] The net increase in cash and cash equivalents from the beginning to the end of the year was $12,682 million.


[User] What is the difference between discount revenue and processed revenue in the context of American Express's operations?

[Assistant] Discount revenue refers to the amount American Express earns and retains from the merchant for facilitating transactions between Card Members and merchants using payment products issued by American Express. It varies based on several factors like the industry, transaction volume, and geographical scope of the card acceptance agreement. Processed revenue, on the other hand, primarily relates to revenues earned from network partnership agreements and is recorded when services such as facilitating transactions on cards issued by network partners are performed. It includes fees deducted from payments to merchants or third-party merchant acquirers and recorded at the time the Card Member transaction occurs.


[User] What are the two main approaches used to measure the fair value of reporting units in a quantitative goodwill impairment assessment?

[Assistant] The two main approaches used to measure the fair value of reporting units in a quantitative goodwill impairment assessment are the income approach, specifically using discounted cash flows, and the market approach, particularly using market multiples.


[User] What are the net values of Card Member and Other loans as of December 31, 2023 and 2022?

[Assistant] The net values of Card Member loans as of December 31, 2023 and 2022 are $120,877 million and $104,217 million respectively. For Other loans, the net values are $6,960 million in 2023 and $5,357 million in 2022.


[User] What financial support mechanisms were implemented for borrowers experiencing financial difficulty as of January 1, 2023?

[Assistant] As of January 1, 2023, borrowers experiencing financial difficulty were offered several types of loan and receivables modification programs, including temporary interest rate reductions and fixed payment plans. These modifications were generally accounted for as a continuation of the existing loan.


[User] What is the total number of accounts that defaulted after being modified as TDRs in 2022?

[Assistant] 18 thousand accounts


[User] What factors are considered in evaluating the lifetime losses for most loans and receivables?

[Assistant] Lifetime losses for most loans and receivables are evaluated considering factors such as past spend and remittance behaviors, credit bureau scores (where available), delinquency status, tenure of balance outstanding, and similar risk characteristics shared among financial assets.


[User] What were the key elements of the equity securities reclassification that took place in the third quarter of 2023?

[Assistant] In the third quarter of 2023, certain equity securities were reclassified from Other assets to Investment securities, following the completion of transactions where the issuers of these securities became public companies. The investments held a fair value of $24 million with a cost basis of $10 million as of December 31, 2023, and included net unrealized gains of $37 million that were recognized prior to the transactions.


[User] What was the restricted cash held by the Lending Trust and the Charge Trust as of December 31, 2022?

[Assistant] As of December 31, 2022, the restricted cash held by the Lending Trust was $59 million, and the Charge Trust held nil.


[User] What percentage of Starbucks' total net revenues in fiscal 2023 was contributed by company-operated stores?

[Assistant] 82%


[User] What factors influence the mix of company-operated versus licensed Starbucks stores in a market?

[Assistant] The mix is influenced by the ability to access desirable local retail space, market complexity, profitability, expected market size, and support infrastructure within the region.


[User] Describe the primary retail objective of Starbucks.

[Assistant] Starbucks aims to be the leading retailer and brand of coffee and tea in each target market by offering high-quality products, complementary food, and a unique customer experience.


[User] What strategies does Starbucks employ to expand its global retail business?

[Assistant] Starbucks expands by selectively opening more stores in new and existing markets, increasing sales in existing stores and enhancing the in-store experience to maintain its brand reputation globally.


[User] How does the Starbucks Experience enhance customer loyalty?

[Assistant] The Starbucks Experience enhances loyalty through superior customer service, convenience, a seamless digital experience and well-maintained stores that reflect local community personalities.


[User] What are the primary products sold in Starbucks company-operated stores?

[Assistant] The primary products are beverages, food, and other items such as serveware and packaged goods.


[User] How does Starbucks leverage technology in its international markets?

[Assistant] Starbucks invests in technology and forms partnerships to increase digital adoption, enhancing convenience and customer experience.


[User] What are the details of Starbucks' Reinvention Plan in the U.S.?

[Assistant] The Reinvention Plan focuses on increasing efficiency while improving the partner and customer experience through purpose-built store concepts and technology innovations.


[User] Describe the role of stored value cards and the loyalty program in Starbucks' strategy.

[Assistant] Stored value cards provide a convenient payment method and increase visit frequency, while the loyalty program offers benefits based on the acquisition of reward points.


[User] What section of a 10-K filing describes certain legal proceedings in which a company is involved?

[Assistant] Item 3, which refers to Note 16 and is detailed in Item 8 of Part II.


[User] What role do Ethernet switching and routing products play in enterprise networks?

[Assistant] In enterprise networks, Ethernet switching and routing products provide secure, encrypted switching and support energy-efficient modes in compliance with industry standards.


[User] What advancements have been made in Ethernet transceiver technology?

[Assistant] Ethernet transceivers now support higher speeds, energy efficiency, data encryption, and time synchronization features, leveraging a proprietary digital signal processing architecture.


[User] What are the benefits of Fiber Optic Components in telecommunication?

[Assistant] Fiber optic components enhance the speed and efficiency of data transmission through optical fibers in various telecommunications applications.


[User] What are the primary uses of FBAR technology in cellular RF applications?

[Assistant] FBAR technology is primarily used in cellular RF applications to improve mobile handset efficiency by enhancing signal filtration and module integration.


[User] How do our connectivity solutions support global positioning systems in mobile devices?

[Assistant] Our connectivity solutions include GPS and GNSS receivers that enhance the accuracy of location and navigation capabilities in mobile devices.


[User] What impact do inductive charging ASIC devices have on mobile and wearable devices?

[Assistant] Inductive charging ASIC devices improve the charging efficiency and integration of power solutions in mobile and wearable devices.


[User] How is information about commitments and contingencies presented in the Annual Report on Form 10-K?

[Assistant] It is incorporated by reference under Note 13 in Item 3.


[User] What additional information is discussed relating to risks associated with legal proceedings in the Annual Report on Form 10-K?

[Assistant] The Risk Factors section discusses additional risks associated with legal proceedings.


[User] What are the two primary reportable segments of the company discussed?

[Assistant] The company has two primary reportable segments: semiconductor solutions and infrastructure software.


[User] What was the amount of cash generated from operations by the company in fiscal year 2023?

[Assistant] The company generated $18,085 million of cash from operations in fiscal year 2023.


[User] What was the annual maturities for the French Term Loans in fiscal 2024 according to the schedule presented?

[Assistant] $10.9 million


[User] What was the total amount of GameStop Corp's net deferred tax assets as of January 28, 2023?

[Assistant] $18.2 million


[User] How much did GameStop Corp's valuation allowances increase during fiscal 2022?

[Assistant] Approximately $70.2 million


[User] How many shares of common stock were sold in fiscal 2021 under GameStop Corp.'s at-the-market equity offering programs?

[Assistant] 34,000,000 shares


[User] What total amount in gross proceeds did GameStop generate from the sales under the ATM Transactions in fiscal 2021?

[Assistant] $1.68 billion


[User] How do GameStop Corp's current assets in January 2023 compare to January 2022?

[Assistant] GameStop Corp's current assets decreased from $2,598.8 million in January 2022 to $2,323.7 million in January 2023.


[User] What was the total amount of current liabilities reported for GameStop Corp. in 2022?

[Assistant] $1,339.1 million


[User] How is the transaction price allocated when loyalty program members make a purchase?

[Assistant] The transaction price is allocated between the product and the loyalty points earned, based on the relative stand-alone selling prices and the expected redemption of the points.


[User] What is the primary business of AMC Entertainment Holdings, Inc.?

[Assistant] AMC Entertainment Holdings, Inc. is principally involved in the theatrical exhibition business.


[User] When was AMC Entertainment Holdings, Inc. incorporated and in which state?

[Assistant] AMC Entertainment Holdings, Inc. was incorporated on June 6, 2007, under the laws of the state of Delaware.


[User] What was the percentage increase in total revenue, net of interest expense, for Bank of America's Consumer Banking segment from 2022 to 2023?

[Assistant] 9%


[User] What is the primary reason for the decrease in net income for Consumer Banking in 2023?

[Assistant] The primary reason for the decrease in net income for Consumer Banking in 2023 was an increase in provision for credit losses and higher noninterest expense, which were partially offset by higher revenue.


[User] How did the provision for credit losses change in Consumer Banking in 2023?

[Assistant] The provision for credit losses in Consumer Banking increased by $3.2 billion to $5.2 billion in 2023.


[User] What was the percent change in the provision for credit losses from 2022 to 2023 for Bank of America's Global Banking segment?

[Assistant] not meaningful (n/m)


[User] How much did noninterest income from investment banking fees change from 2022 to 2023 in Bank of America's Global Banking segment?

[Assistant] decreased by 6%


[User] What was the return on average allocated capital for Global Banking in 2023?

[Assistant] 21 percent


[User] What was the percentage change in total earning assets from the previous year as reported in 2023?

[Assistant] Decreased by 1 percent


[User] What was the total sales and trading revenue of Global Markets in 2023?

[Assistant] $17,376 million


[User] By how much did the investment banking fees change from 2022 to 2023?

[Assistant] Increased by $54 million


[User] What was the net charge incurred due to the future cessation of BSBY as announced in the fourth quarter of 2023?

[Assistant] $1.6 billion


[User] What methodology does a company use to assess impairment of non-marketable equity securities of privately-held companies?

[Assistant] A company assesses impairment of non-marketable equity securities of privately-held companies using the measurement alternative defined as cost minus impair pre-periodically assessed for impairment when events or circumstances suggest a decline in value might have occurred. Assessment includes considering the investee's general market and industry condition, product development status, and financial condition, among other factors.


[User] What is the effective fiscal year for the accounting standards update (ASU) 2023-09 issued by the FASB in December 2023 regarding income tax disclosures?

[Assistant] Fiscal year 2025


[User] How much did the unbilled accounts receivable amount to as of December 30, 2023?

[Assistant] $1.1 billion


[User] What was the total operating income for the Company’s segments in the year ended December 30, 2023?

[Assistant] $401 million


[User] What was the total purchase consideration for the company's acquisitions during the fiscal year 2023?

[Assistant] $134 million


[User] How much was the identified intangible assets from the Pensando acquisition amortized over?

[Assistant] $349 million


[User] What was the fair value of the goodwill generated from the acquisition of Xilinx?

[Assistant] $22,784 million


[User] What financial valuation method was primarily used to determine the fair value of customer relationships, customer backlog, and corporate trade names in a specified financial report?

[Assistant] The income approach was primarily used. Specifically, customer relationships used the with and without method, customer backlog used the multi-period excess earnings method, and corporate trade names used the relief from royalty method.


[User] How was the fair value of in-process research and development (IPR&D) assessed, and what was its status regarding amortization by the end of 2023?

[Assistant] The fair value of IPR&D was determined using the multi-period excess earnings method. Initially not amortized as an indefinite-lived intangible asset, it began amortization in the fourth quarter of 2023 over 15 years after reaching technological feasibility.


[User] What were the Company's purchases from and resales to the ATMP JV during 2023 and 2022?

[Assistant] The Company's purchases from and resales to the ATMP JV during 2023 and 2022 both amounted to $1.7 billion and $14 million for purchases and resales respectively. In 2022, the purchases were also $1.7 billion while resales amounted to $15 million.


[User] Why was there a net outflow of cash in financing activities in fiscal 2022?

[Assistant] There was a net outflow of cash in financing activities in fiscal 2022 primarily due to the settlement of stock-based awards.


[User] What triggered the significant inflow of cash in financing activities during fiscal 2021?

[Assistant] The significant inflow of cash during fiscal 2021 was primarily due to the sale of shares of common stock in ATM transaction netting approximately $1.7 billion.


[User] What accounting method is used to value merchandise inventories?

[Assistant] Merchandise inventories are valued at the lower of cost or market generally using the average cost method.


[User] How might a 10% change in the obsolescence reserve percentage impact net earnings?

[Assistant] A 10% change in the obsolescence reserve percentage at January 28, 2023, would have affected net earnings by approximately $2.5 million in fiscal 2022.


[User] What factors are considered in making assumptions for valuing potentially obsolete or over-valued inventory items?

[Assistant] Factors considered include quantities on hand, recent sales, potential price protections, and returns to vendors.


[User] What are the primary estimates used to record the liability for loyalty points earned by members?

[Assistant] The primary estimates include the estimated redemption rate and the estimated weighted-average retail price per point redeemed.


[User] How does GameStop Corp. value its merchandise inventories according to the auditors' report?

[Assistant] GameStop Corp. values its merchandise inventories at the lower of cost or market, generally using the average cost method.


[User] What were the challenges identified by auditors in the valuation of certain merchandise inventory products for GameSpot Corp.?

[Assistant] The challenges included significant estimates and assumptions regarding excess, slow-moving, and obsolete inventory adjustments which required a high degree of auditor judgment and increased effort in audit procedures.


[User] What was the net change in GameStop's cash, cash equivalents, and restricted cash from the beginning to the end of the financial period mentioned?

[Assistant] The net change was a decrease of $123.9 million.


[User] How much interest income did GameStop receive in the presented financial period?

[Assistant] GameStop received $8.2 million in interest income.


[User] What date did Berkshire Hathaway Inc. and its subsidiaries have their financial statements audited?

[Assistant] The financial statements of Berkshire Hathaway Inc. and its subsidiaries were audited as of December 31, 2023.


[User] What was the primary reason for the increased audit effort for PCC goodwill and indefinite-lived intangible assets?

[Assistant] The primary reason for the increased audit effort was the significant judgments made by management in evaluating potential impairment of PCC goodwill and PCC indefinite-lived intangible assets, which required a high degree of auditor judgment.


[User] What was the total cost and expenses reported by Berkshire Hathaway for the year ended December 31, 2023?

[Assistant] 321,144 million dollars


[User] What was Berkshire Hathaway's net cash flow from operating activities for the year 2023?

[Assistant] Berkshire Hathaway's net cash flow from operating activities for the year 2023 was $49,196 million.


[User] What is the mission of the company described in the text?

[Assistant] The mission of the company is to give people the power to build community and bring the world closer together.


[User] How does the company intend to help build the metaverse?

[Assistant] The company intends to build the metaverse by moving beyond 2D screens towards immersive experiences like augmented and virtual reality.


[User] What are the primary sources of revenue for the company's Family of Apps segment?

[Assistant] The primary source of revenue for the Family of Apps segment is from selling advertising placements to marketers.


[User] What products are offered under the company's Reality Labs segment?

[Assistant] The Reality Labs segment offers consumer hardware products, software, and content.


[User] What percentage of the company's total costs and expenses in 2023 were recognized in the Family of Apps segment?

[Assistant] In 2023, 80% of the company's total costs and expenses were recognized in the Family of Apps segment.


[User] What are the planned key investment areas for the company in 2024?

[Assistant] The key investment areas for the company in 2024 are AI, the metaverse, discovery engine, monetization of products and services, regulatory readiness, and enhancing developer efficiency.


[User] What represents the company’s remaining performance obligation?

[Assistant] All future revenue under contract that has not yet been recognized as revenue, which includes unearned revenue and unbilled amounts.


[User] What is the typical consequence of acquisitions on the company's operating cash flow?

[Assistant] Operating cash flows may be adversely impacted by acquisitions due to transaction costs, financing costs such as interest expense and lower operating cash flows from the acquired entity.


[User] What factors influence the company's remaining performance obligation?

[Assistant] Factors include seasonality, timing of renewals, average contract terms, foreign currency exchange rates, fluctuations in new business growth, and acquisitions.


[User] What factors are typically considered when determining the stand-alone selling price (SSP) range if it isn't directly observable?

[Assistant] The SSP range is determined using information that may include pricing practices or other observable inputs.


[User] How does customer size and geography affect the determination of SSP for products and services?

[Assistant] SSP varies for individual products and services due to the stratification by customer size and geography, resulting in more than one SSP for each.


[User] What are the critical estimates involved in accounting for business combinations?

[Assistant] Critical estimates include future expected cash flows from various contracts, historical and expected customer attrination rates, revenue growth from acquired customers, assumptions about use period of trade names, discount rates, uncertain tax positions, fair value of equity awards, and pre-existing relationships.


[User] What method do we use to value privately held equity and debt securities in the absence of market data?

[Assistant] Valuations of privately held securities are performed using significant unobservable inputs or data in an inactive market, applying valuation methods like the market approach and option pricing models adjusted for the specific rights and preferences of the securities held.


[User] How frequently is the investment portfolio of privately held securities assessed for impairment?

[Assistant] The investment portfolio of privately held securities is assessed quarterly for impairment.


[User] What factors are analyzed in the impairment assessment for strategic investments?

[Assistant] The impairment analysis involves both qualitative and quantitative analyses of key factors such associated financial metrics, market acceptance of product or technology, and the rate of cash consumption by the investee.