diff --git "a/SECQUE_benchmark_Ratio.jsonl" "b/SECQUE_benchmark_Ratio.jsonl" new file mode 100644--- /dev/null +++ "b/SECQUE_benchmark_Ratio.jsonl" @@ -0,0 +1,188 @@ +{"QID":"q_Ra001","Question":"How did Apple Inc.'s Interest Coverage Ratio evolve between 2021 and 2023?","ground_truth_answer":"Interest Coverage Ratio is calculated using the formula: Interest Coverage Ratio = EBIT \/ Interest Expenses.\n\nFor 2021:\nEBIT (Operating Income) = $108,949 million\nInterest Expenses = $2,687 million\nInterest Coverage Ratio = $108,949 million \/ $2,687 million = 40.6\n\nFor 2022:\nEBIT (Operating Income) = $119,437 million\nInterest Expenses = $2,931 million\nInterest Coverage Ratio = $119,437 million \/ $2,931 million = 40.7\n\nFor 2023:\nEBIT (Operating Income) = $114,301 million\nInterest Expenses = $3,933 million\nInterest Coverage Ratio = $114,301 million \/ $3,933 million = 29.1","question_type":"Ratio","page_number":"29,30,31,32, 39","accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 29: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n\n(In millions)\n| | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------|:------------------|:-------|:------------------|:---------|:------------------|:-------|:------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 4 | Other comprehensive income\/(loss): | | | | | | | | | |\n| 5 | Change in foreign currency translation, net of tax | (765) | | | (1,511) | | | 501 | | |\n| 7 | Change in unrealized gains\/losses on derivative instruments, net of tax: | | | | | | | | | |\n| 8 | Change in fair value of derivative instruments | 323 | | | 3,212 | | | 32 | | |\n| 9 | Adjustment for net (gains)\/losses realized and included in net income | (1,717) | | | (1,074) | | | 1,003 | | |\n| 10 | Total change in unrealized gains\/losses on derivative instruments | (1,394) | | | 2,138 | | | 1,035 | | |\n| 12 | Change in unrealized gains\/losses on marketable debt securities, net of tax: | | | | | | | | | |\n| 13 | Change in fair value of marketable debt securities | 1,563 | | | (12,104) | | | (694) | | |\n| 14 | Adjustment for net (gains)\/losses realized and included in net income | 253 | | | 205 | | | (273) | | |\n| 15 | Total change in unrealized gains\/losses on marketable debt securities | 1,816 | | | (11,899) | | | (967) | | |\n| 17 | Total other comprehensive income\/(loss) | (343) | | | (11,272) | | | 569 | | |\n| 18 | Total comprehensive income | $ | 96,652 | | | $ | 88,531 | | $ | 95,249 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 29\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 31: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY\n\n(In millions, except per-share amounts)\n| | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------|:------------------|:-------|:------------------|:---------|:------------------|:-------|:---------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Total shareholders' equity, beginning balances | $ | 50,672 | | | $ | 63,090 | | $ | 65,339 |\n| 5 | Common stock and additional paid-in capital: | | | | | | | | | |\n| 6 | Beginning balances | 64,849 | | | 57,365 | | | 50,779 | | |\n| 7 | Common stock issued | 1,346 | | | 1,175 | | | 1,105 | | |\n| 8 | Common stock withheld related to net share settlement of equity awards | (3,521) | | | (2,971) | | | (2,627) | | |\n| 9 | Share-based compensation | 11,138 | | | 9,280 | | | 8,108 | | |\n| 10 | Ending balances | 73,812 | | | 64,849 | | | 57,365 | | |\n| 12 | Retained earnings\/(Accumulated deficit): | | | | | | | | | |\n| 13 | Beginning balances | (3,068) | | | 5,562 | | | 14,966 | | |\n| 14 | Net income | 96,995 | | | 99,803 | | | 94,680 | | |\n| 15 | Dividends and dividend equivalents declared | (14,996) | | | (14,793) | | | (14,431) | | |\n| 16 | Common stock withheld related to net share settlement of equity awards | (2,099) | | | (3,454) | | | (4,151) | | |\n| 17 | Common stock repurchased | (77,046) | | | (90,186) | | | (85,502) | | |\n| 18 | Ending balances | (214) | | | (3,068) | | | 5,562 | | |\n| 20 | Accumulated other comprehensive income\/(loss): | | | | | | | | | |\n| 21 | Beginning balances | (11,109) | | | 163 | | | (406) | | |\n| 22 | Other comprehensive income\/(loss) | (343) | | | (11,272) | | | 569 | | |\n| 23 | Ending balances | (11,452) | | | (11,109) | | | 163 | | |\n| 25 | Total shareholders' equity, ending balances | $ | 62,146 | | | $ | 50,672 | | $ | 63,090 |\n| 27 | Dividends and dividend equivalents declared per share or RSU | $ | 0.94 | | | $ | 0.90 | | $ | 0.85 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 31\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 32: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------|:------------------|:-------|:------------------|:----------|:------------------|:-------|:----------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Cash, cash equivalents and restricted cash, beginning balances | $ | 24,977 | | | $ | 35,929 | | $ | 39,789 |\n| 5 | Operating activities: | | | | | | | | | |\n| 6 | Net income | 96,995 | | | 99,803 | | | 94,680 | | |\n| 7 | Adjustments to reconcile net income to cash generated by operating activities: | | | | | | | | | |\n| 8 | Depreciation and amortization | 11,519 | | | 11,104 | | | 11,284 | | |\n| 9 | Share-based compensation expense | 10,833 | | | 9,038 | | | 7,906 | | |\n| 11 | Other | (2,227) | | | 1,006 | | | (4,921) | | |\n| 12 | Changes in operating assets and liabilities: | | | | | | | | | |\n| 13 | Accounts receivable, net | (1,688) | | | (1,823) | | | (10,125) | | |\n| 14 | Vendor non-trade receivables | 1,271 | | | (7,520) | | | (3,903) | | |\n| 15 | Inventories | (1,618) | | | 1,484 | | | (2,642) | | |\n| 16 | Other current and non-current assets | (5,684) | | | (6,499) | | | (8,042) | | |\n| 17 | Accounts payable | (1,889) | | | 9,448 | | | 12,326 | | |\n| 18 | Other current and non-current liabilities | 3,031 | | | 6,110 | | | 7,475 | | |\n| 19 | Cash generated by operating activities | 110,543 | | | 122,151 | | | 104,038 | | |\n| 21 | Investing activities: | | | | | | | | | |\n| 22 | Purchases of marketable securities | (29,513) | | | (76,923) | | | (109,558) | | |\n| 23 | Proceeds from maturities of marketable securities | 39,686 | | | 29,917 | | | 59,023 | | |\n| 24 | Proceeds from sales of marketable securities | 5,828 | | | 37,446 | | | 47,460 | | |\n| 25 | Payments for acquisition of property, plant and equipment | (10,959) | | | (10,708) | | | (11,085) | | |\n| 27 | Other | (1,337) | | | (2,086) | | | (385) | | |\n| 28 | Cash generated by\/(used in) investing activities | 3,705 | | | (22,354) | | | (14,545) | | |\n| 30 | Financing activities: | | | | | | | | | |\n| 31 | Payments for taxes related to net share settlement of equity awards | (5,431) | | | (6,223) | | | (6,556) | | |\n| 32 | Payments for dividends and dividend equivalents | (15,025) | | | (14,841) | | | (14,467) | | |\n| 33 | Repurchases of common stock | (77,550) | | | (89,402) | | | (85,971) | | |\n| 34 | Proceeds from issuance of term debt, net | 5,228 | | | 5,465 | | | 20,393 | | |\n| 35 | Repayments of term debt | (11,151) | | | (9,543) | | | (8,750) | | |\n| 36 | Proceeds from\/(Repayments of) commercial paper, net | (3,978) | | | 3,955 | | | 1,022 | | |\n| 37 | Other | (581) | | | (160) | | | 976 | | |\n| 38 | Cash used in financing activities | (108,488) | | | (110,749) | | | (93,353) | | |\n| 40 | Increase\/(Decrease) in cash, cash equivalents and restricted cash | 5,760 | | | (10,952) | | | (3,860) | | |\n| 41 | Cash, cash equivalents and restricted cash, ending balances | $ | 30,737 | | | $ | 24,977 | | $ | 35,929 |\n| 43 | Supplemental cash flow disclosure: | | | | | | | | | |\n| 44 | Cash paid for income taxes, net | $ | 18,679 | | | $ | 19,573 | | $ | 25,385 |\n| 45 | Cash paid for interest | $ | 3,803 | | | $ | 2,865 | | $ | 2,687 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 32\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 39: \nNote 5 \u2013 Property, Plant and Equipment\n\nThe following table shows the Company's gross property, plant and equipment by major asset class and accumulated depreciation as of September 30, 2023 and September 24, 2022 (in millions):\n| | | | | | | | |\n|---:|:-----------------------------------------------|:---------|:-------|:-----|:---------|:---|:-------|\n| 1 | | 2023 | | 2022 | | | |\n| 2 | Land and buildings | $ | 23,446 | | | $ | 22,126 |\n| 3 | Machinery, equipment and internal-use software | 78,314 | | | 81,060 | | |\n| 4 | Leasehold improvements | 12,839 | | | 11,271 | | |\n| 5 | Gross property, plant and equipment | 114,599 | | | 114,457 | | |\n| 6 | Accumulated depreciation | (70,884) | | | (72,340) | | |\n| 7 | Total property, plant and equipment, net | $ | 43,715 | | | $ | 42,117 |\nDepreciation expense on property, plant and equipment was $8.5 billion, $8.7 billion and $9.5 billion during 2023, 2022 and 2021, respectively.\n\nNote 6 \u2013 Consolidated Financial Statement Details\n\nThe following tables show the Company's consolidated financial statement details as of September 30, 2023 and September 24, 2022 (in millions):\n\nOther Non-Current Assets\n\n| | | | | | | | |\n|---:|:-------------------------------|:-------|:-------|:-----|:-------|:---|:-------|\n| 1 | | 2023 | | 2022 | | | |\n| 2 | Deferred tax assets | $ | 17,852 | | | $ | 15,375 |\n| 3 | Other non-current assets | 46,906 | | | 39,053 | | |\n| 4 | Total other non-current assets | $ | 64,758 | | | $ | 54,428 |\n\nOther Current Liabilities\n\n| | | | | | | | |\n|---:|:--------------------------------|:-------|:-------|:-----|:-------|:---|:-------|\n| 1 | | 2023 | | 2022 | | | |\n| 2 | Income taxes payable | $ | 8,819 | | | $ | 6,552 |\n| 3 | Other current liabilities | 50,010 | | | 54,293 | | |\n| 4 | Total other current liabilities | $ | 58,829 | | | $ | 60,845 |\n\nOther Non-Current Liabilities\n\n| | | | | | | | |\n|---:|:------------------------------------|:-------|:-------|:-----|:-------|:---|:-------|\n| 1 | | 2023 | | 2022 | | | |\n| 2 | Long-term taxes payable | $ | 15,457 | | | $ | 16,657 |\n| 3 | Other non-current liabilities | 34,391 | | | 32,485 | | |\n| 4 | Total other non-current liabilities | $ | 49,848 | | | $ | 49,142 |\n\nOther Income\/(Expense), Net\n\nThe following table shows the detail of other income\/(expense), net for 2023, 2022 and 2021 (in millions):\n| | | | | | | | | | | |\n|---:|:----------------------------------|:--------|:------|:-----|:--------|:-----|:------|:--------|:---|:------|\n| 1 | | 2023 | | 2022 | | 2021 | | | | |\n| 2 | Interest and dividend income | $ | 3,750 | | | $ | 2,825 | | $ | 2,843 |\n| 3 | Interest expense | (3,933) | | | (2,931) | | | (2,645) | | |\n| 4 | Other income\/(expense), net | (382) | | | (228) | | | 60 | | |\n| 5 | Total other income\/(expense), net | $ | (565) | | | $ | (334) | | $ | 258 |\n\nApple Inc. | 2023 Form 10-K | 39\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n\n(In millions)\n| | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------|:------------------|:-------|:------------------|:---------|:------------------|:-------|:------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 4 | Other comprehensive income\/(loss): | | | | | | | | | |\n| 5 | Change in foreign currency translation, net of tax | (765) | | | (1,511) | | | 501 | | |\n| 7 | Change in unrealized gains\/losses on derivative instruments, net of tax: | | | | | | | | | |\n| 8 | Change in fair value of derivative instruments | 323 | | | 3,212 | | | 32 | | |\n| 9 | Adjustment for net (gains)\/losses realized and included in net income | (1,717) | | | (1,074) | | | 1,003 | | |\n| 10 | Total change in unrealized gains\/losses on derivative instruments | (1,394) | | | 2,138 | | | 1,035 | | |\n| 12 | Change in unrealized gains\/losses on marketable debt securities, net of tax: | | | | | | | | | |\n| 13 | Change in fair value of marketable debt securities | 1,563 | | | (12,104) | | | (694) | | |\n| 14 | Adjustment for net (gains)\/losses realized and included in net income | 253 | | | 205 | | | (273) | | |\n| 15 | Total change in unrealized gains\/losses on marketable debt securities | 1,816 | | | (11,899) | | | (967) | | |\n| 17 | Total other comprehensive income\/(loss) | (343) | | | (11,272) | | | 569 | | |\n| 18 | Total comprehensive income | $ | 96,652 | | | $ | 88,531 | | $ | 95,249 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 29\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY\n\n(In millions, except per-share amounts)\n| | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------|:------------------|:-------|:------------------|:---------|:------------------|:-------|:---------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Total shareholders' equity, beginning balances | $ | 50,672 | | | $ | 63,090 | | $ | 65,339 |\n| 5 | Common stock and additional paid-in capital: | | | | | | | | | |\n| 6 | Beginning balances | 64,849 | | | 57,365 | | | 50,779 | | |\n| 7 | Common stock issued | 1,346 | | | 1,175 | | | 1,105 | | |\n| 8 | Common stock withheld related to net share settlement of equity awards | (3,521) | | | (2,971) | | | (2,627) | | |\n| 9 | Share-based compensation | 11,138 | | | 9,280 | | | 8,108 | | |\n| 10 | Ending balances | 73,812 | | | 64,849 | | | 57,365 | | |\n| 12 | Retained earnings\/(Accumulated deficit): | | | | | | | | | |\n| 13 | Beginning balances | (3,068) | | | 5,562 | | | 14,966 | | |\n| 14 | Net income | 96,995 | | | 99,803 | | | 94,680 | | |\n| 15 | Dividends and dividend equivalents declared | (14,996) | | | (14,793) | | | (14,431) | | |\n| 16 | Common stock withheld related to net share settlement of equity awards | (2,099) | | | (3,454) | | | (4,151) | | |\n| 17 | Common stock repurchased | (77,046) | | | (90,186) | | | (85,502) | | |\n| 18 | Ending balances | (214) | | | (3,068) | | | 5,562 | | |\n| 20 | Accumulated other comprehensive income\/(loss): | | | | | | | | | |\n| 21 | Beginning balances | (11,109) | | | 163 | | | (406) | | |\n| 22 | Other comprehensive income\/(loss) | (343) | | | (11,272) | | | 569 | | |\n| 23 | Ending balances | (11,452) | | | (11,109) | | | 163 | | |\n| 25 | Total shareholders' equity, ending balances | $ | 62,146 | | | $ | 50,672 | | $ | 63,090 |\n| 27 | Dividends and dividend equivalents declared per share or RSU | $ | 0.94 | | | $ | 0.90 | | $ | 0.85 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 31\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------|:------------------|:-------|:------------------|:----------|:------------------|:-------|:----------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Cash, cash equivalents and restricted cash, beginning balances | $ | 24,977 | | | $ | 35,929 | | $ | 39,789 |\n| 5 | Operating activities: | | | | | | | | | |\n| 6 | Net income | 96,995 | | | 99,803 | | | 94,680 | | |\n| 7 | Adjustments to reconcile net income to cash generated by operating activities: | | | | | | | | | |\n| 8 | Depreciation and amortization | 11,519 | | | 11,104 | | | 11,284 | | |\n| 9 | Share-based compensation expense | 10,833 | | | 9,038 | | | 7,906 | | |\n| 11 | Other | (2,227) | | | 1,006 | | | (4,921) | | |\n| 12 | Changes in operating assets and liabilities: | | | | | | | | | |\n| 13 | Accounts receivable, net | (1,688) | | | (1,823) | | | (10,125) | | |\n| 14 | Vendor non-trade receivables | 1,271 | | | (7,520) | | | (3,903) | | |\n| 15 | Inventories | (1,618) | | | 1,484 | | | (2,642) | | |\n| 16 | Other current and non-current assets | (5,684) | | | (6,499) | | | (8,042) | | |\n| 17 | Accounts payable | (1,889) | | | 9,448 | | | 12,326 | | |\n| 18 | Other current and non-current liabilities | 3,031 | | | 6,110 | | | 7,475 | | |\n| 19 | Cash generated by operating activities | 110,543 | | | 122,151 | | | 104,038 | | |\n| 21 | Investing activities: | | | | | | | | | |\n| 22 | Purchases of marketable securities | (29,513) | | | (76,923) | | | (109,558) | | |\n| 23 | Proceeds from maturities of marketable securities | 39,686 | | | 29,917 | | | 59,023 | | |\n| 24 | Proceeds from sales of marketable securities | 5,828 | | | 37,446 | | | 47,460 | | |\n| 25 | Payments for acquisition of property, plant and equipment | (10,959) | | | (10,708) | | | (11,085) | | |\n| 27 | Other | (1,337) | | | (2,086) | | | (385) | | |\n| 28 | Cash generated by\/(used in) investing activities | 3,705 | | | (22,354) | | | (14,545) | | |\n| 30 | Financing activities: | | | | | | | | | |\n| 31 | Payments for taxes related to net share settlement of equity awards | (5,431) | | | (6,223) | | | (6,556) | | |\n| 32 | Payments for dividends and dividend equivalents | (15,025) | | | (14,841) | | | (14,467) | | |\n| 33 | Repurchases of common stock | (77,550) | | | (89,402) | | | (85,971) | | |\n| 34 | Proceeds from issuance of term debt, net | 5,228 | | | 5,465 | | | 20,393 | | |\n| 35 | Repayments of term debt | (11,151) | | | (9,543) | | | (8,750) | | |\n| 36 | Proceeds from\/(Repayments of) commercial paper, net | (3,978) | | | 3,955 | | | 1,022 | | |\n| 37 | Other | (581) | | | (160) | | | 976 | | |\n| 38 | Cash used in financing activities | (108,488) | | | (110,749) | | | (93,353) | | |\n| 40 | Increase\/(Decrease) in cash, cash equivalents and restricted cash | 5,760 | | | (10,952) | | | (3,860) | | |\n| 41 | Cash, cash equivalents and restricted cash, ending balances | $ | 30,737 | | | $ | 24,977 | | $ | 35,929 |\n| 43 | Supplemental cash flow disclosure: | | | | | | | | | |\n| 44 | Cash paid for income taxes, net | $ | 18,679 | | | $ | 19,573 | | $ | 25,385 |\n| 45 | Cash paid for interest | $ | 3,803 | | | $ | 2,865 | | $ | 2,687 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 32\n\n\n\n\n\n, \nNote 5 \u2013 Property, Plant and Equipment\n\nThe following table shows the Company's gross property, plant and equipment by major asset class and accumulated depreciation as of September 30, 2023 and September 24, 2022 (in millions):\n| | | | | | | | |\n|---:|:-----------------------------------------------|:---------|:-------|:-----|:---------|:---|:-------|\n| 1 | | 2023 | | 2022 | | | |\n| 2 | Land and buildings | $ | 23,446 | | | $ | 22,126 |\n| 3 | Machinery, equipment and internal-use software | 78,314 | | | 81,060 | | |\n| 4 | Leasehold improvements | 12,839 | | | 11,271 | | |\n| 5 | Gross property, plant and equipment | 114,599 | | | 114,457 | | |\n| 6 | Accumulated depreciation | (70,884) | | | (72,340) | | |\n| 7 | Total property, plant and equipment, net | $ | 43,715 | | | $ | 42,117 |\nDepreciation expense on property, plant and equipment was $8.5 billion, $8.7 billion and $9.5 billion during 2023, 2022 and 2021, respectively.\n\nNote 6 \u2013 Consolidated Financial Statement Details\n\nThe following tables show the Company's consolidated financial statement details as of September 30, 2023 and September 24, 2022 (in millions):\n\nOther Non-Current Assets\n\n| | | | | | | | |\n|---:|:-------------------------------|:-------|:-------|:-----|:-------|:---|:-------|\n| 1 | | 2023 | | 2022 | | | |\n| 2 | Deferred tax assets | $ | 17,852 | | | $ | 15,375 |\n| 3 | Other non-current assets | 46,906 | | | 39,053 | | |\n| 4 | Total other non-current assets | $ | 64,758 | | | $ | 54,428 |\n\nOther Current Liabilities\n\n| | | | | | | | |\n|---:|:--------------------------------|:-------|:-------|:-----|:-------|:---|:-------|\n| 1 | | 2023 | | 2022 | | | |\n| 2 | Income taxes payable | $ | 8,819 | | | $ | 6,552 |\n| 3 | Other current liabilities | 50,010 | | | 54,293 | | |\n| 4 | Total other current liabilities | $ | 58,829 | | | $ | 60,845 |\n\nOther Non-Current Liabilities\n\n| | | | | | | | |\n|---:|:------------------------------------|:-------|:-------|:-----|:-------|:---|:-------|\n| 1 | | 2023 | | 2022 | | | |\n| 2 | Long-term taxes payable | $ | 15,457 | | | $ | 16,657 |\n| 3 | Other non-current liabilities | 34,391 | | | 32,485 | | |\n| 4 | Total other non-current liabilities | $ | 49,848 | | | $ | 49,142 |\n\nOther Income\/(Expense), Net\n\nThe following table shows the detail of other income\/(expense), net for 2023, 2022 and 2021 (in millions):\n| | | | | | | | | | | |\n|---:|:----------------------------------|:--------|:------|:-----|:--------|:-----|:------|:--------|:---|:------|\n| 1 | | 2023 | | 2022 | | 2021 | | | | |\n| 2 | Interest and dividend income | $ | 3,750 | | | $ | 2,825 | | $ | 2,843 |\n| 3 | Interest expense | (3,933) | | | (2,931) | | | (2,645) | | |\n| 4 | Other income\/(expense), net | (382) | | | (228) | | | 60 | | |\n| 5 | Total other income\/(expense), net | $ | (565) | | | $ | (334) | | $ | 258 |\n\nApple Inc. | 2023 Form 10-K | 39\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 29: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n\n(In millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
Other comprehensive income\/(loss):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in foreign currency translation, net of tax<\/td>(765)<\/td><\/td><\/td>(1,511)<\/td><\/td><\/td>501 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in unrealized gains\/losses on derivative instruments, net of tax:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in fair value of derivative instruments<\/td>323 <\/td><\/td><\/td>3,212 <\/td><\/td><\/td>32 <\/td><\/td><\/tr>
Adjustment for net (gains)\/losses realized and included in net income<\/td>(1,717)<\/td><\/td><\/td>(1,074)<\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Total change in unrealized gains\/losses on derivative instruments<\/td>(1,394)<\/td><\/td><\/td>2,138 <\/td><\/td><\/td>1,035 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in unrealized gains\/losses on marketable debt securities, net of tax:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in fair value of marketable debt securities<\/td>1,563 <\/td><\/td><\/td>(12,104)<\/td><\/td><\/td>(694)<\/td><\/td><\/tr>
Adjustment for net (gains)\/losses realized and included in net income<\/td>253 <\/td><\/td><\/td>205 <\/td><\/td><\/td>(273)<\/td><\/td><\/tr>
Total change in unrealized gains\/losses on marketable debt securities<\/td>1,816 <\/td><\/td><\/td>(11,899)<\/td><\/td><\/td>(967)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total other comprehensive income\/(loss)<\/td>(343)<\/td><\/td><\/td>(11,272)<\/td><\/td><\/td>569 <\/td><\/td><\/tr>
Total comprehensive income<\/td>$<\/td>96,652 <\/td><\/td><\/td>$<\/td>88,531 <\/td><\/td><\/td>$<\/td>95,249 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 29\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 31: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY\n\n(In millions, except per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Total shareholders' equity, beginning balances<\/td>$<\/td>50,672 <\/td><\/td><\/td>$<\/td>63,090 <\/td><\/td><\/td>$<\/td>65,339 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>64,849 <\/td><\/td><\/td>57,365 <\/td><\/td><\/td>50,779 <\/td><\/td><\/tr>
Common stock issued<\/td>1,346 <\/td><\/td><\/td>1,175 <\/td><\/td><\/td>1,105 <\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(3,521)<\/td><\/td><\/td>(2,971)<\/td><\/td><\/td>(2,627)<\/td><\/td><\/tr>
Share-based compensation<\/td>11,138 <\/td><\/td><\/td>9,280 <\/td><\/td><\/td>8,108 <\/td><\/td><\/tr>
Ending balances<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/td>57,365 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(3,068)<\/td><\/td><\/td>5,562 <\/td><\/td><\/td>14,966 <\/td><\/td><\/tr>
Net income<\/td>96,995 <\/td><\/td><\/td>99,803 <\/td><\/td><\/td>94,680 <\/td><\/td><\/tr>
Dividends and dividend equivalents declared<\/td>(14,996)<\/td><\/td><\/td>(14,793)<\/td><\/td><\/td>(14,431)<\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(2,099)<\/td><\/td><\/td>(3,454)<\/td><\/td><\/td>(4,151)<\/td><\/td><\/tr>
Common stock repurchased<\/td>(77,046)<\/td><\/td><\/td>(90,186)<\/td><\/td><\/td>(85,502)<\/td><\/td><\/tr>
Ending balances<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/td>5,562 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income\/(loss):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(11,109)<\/td><\/td><\/td>163 <\/td><\/td><\/td>(406)<\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(343)<\/td><\/td><\/td>(11,272)<\/td><\/td><\/td>569 <\/td><\/td><\/tr>
Ending balances<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/td>163 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total shareholders' equity, ending balances<\/td>$<\/td>62,146 <\/td><\/td><\/td>$<\/td>50,672 <\/td><\/td><\/td>$<\/td>63,090 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Dividends and dividend equivalents declared per share or RSU<\/td>$<\/td>0.94 <\/td><\/td><\/td>$<\/td>0.90 <\/td><\/td><\/td>$<\/td>0.85 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 31\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 32: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Cash, cash equivalents and restricted cash, beginning balances<\/td>$<\/td>24,977 <\/td><\/td><\/td>$<\/td>35,929 <\/td><\/td><\/td>$<\/td>39,789 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>96,995 <\/td><\/td><\/td>99,803 <\/td><\/td><\/td>94,680 <\/td><\/td><\/tr>
Adjustments to reconcile net income to cash generated by operating activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>11,519 <\/td><\/td><\/td>11,104 <\/td><\/td><\/td>11,284 <\/td><\/td><\/tr>
Share-based compensation expense<\/td>10,833 <\/td><\/td><\/td>9,038 <\/td><\/td><\/td>7,906 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(2,227)<\/td><\/td><\/td>1,006 <\/td><\/td><\/td>(4,921)<\/td><\/td><\/tr>
Changes in operating assets and liabilities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts receivable, net<\/td>(1,688)<\/td><\/td><\/td>(1,823)<\/td><\/td><\/td>(10,125)<\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>1,271 <\/td><\/td><\/td>(7,520)<\/td><\/td><\/td>(3,903)<\/td><\/td><\/tr>
Inventories<\/td>(1,618)<\/td><\/td><\/td>1,484 <\/td><\/td><\/td>(2,642)<\/td><\/td><\/tr>
Other current and non-current assets<\/td>(5,684)<\/td><\/td><\/td>(6,499)<\/td><\/td><\/td>(8,042)<\/td><\/td><\/tr>
Accounts payable<\/td>(1,889)<\/td><\/td><\/td>9,448 <\/td><\/td><\/td>12,326 <\/td><\/td><\/tr>
Other current and non-current liabilities<\/td>3,031 <\/td><\/td><\/td>6,110 <\/td><\/td><\/td>7,475 <\/td><\/td><\/tr>
Cash generated by operating activities<\/td>110,543 <\/td><\/td><\/td>122,151 <\/td><\/td><\/td>104,038 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investing activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Purchases of marketable securities<\/td>(29,513)<\/td><\/td><\/td>(76,923)<\/td><\/td><\/td>(109,558)<\/td><\/td><\/tr>
Proceeds from maturities of marketable securities<\/td>39,686 <\/td><\/td><\/td>29,917 <\/td><\/td><\/td>59,023 <\/td><\/td><\/tr>
Proceeds from sales of marketable securities<\/td>5,828 <\/td><\/td><\/td>37,446 <\/td><\/td><\/td>47,460 <\/td><\/td><\/tr>
Payments for acquisition of property, plant and equipment<\/td>(10,959)<\/td><\/td><\/td>(10,708)<\/td><\/td><\/td>(11,085)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(1,337)<\/td><\/td><\/td>(2,086)<\/td><\/td><\/td>(385)<\/td><\/td><\/tr>
Cash generated by\/(used in) investing activities<\/td>3,705 <\/td><\/td><\/td>(22,354)<\/td><\/td><\/td>(14,545)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Financing activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Payments for taxes related to net share settlement of equity awards<\/td>(5,431)<\/td><\/td><\/td>(6,223)<\/td><\/td><\/td>(6,556)<\/td><\/td><\/tr>
Payments for dividends and dividend equivalents<\/td>(15,025)<\/td><\/td><\/td>(14,841)<\/td><\/td><\/td>(14,467)<\/td><\/td><\/tr>
Repurchases of common stock<\/td>(77,550)<\/td><\/td><\/td>(89,402)<\/td><\/td><\/td>(85,971)<\/td><\/td><\/tr>
Proceeds from issuance of term debt, net<\/td>5,228 <\/td><\/td><\/td>5,465 <\/td><\/td><\/td>20,393 <\/td><\/td><\/tr>
Repayments of term debt<\/td>(11,151)<\/td><\/td><\/td>(9,543)<\/td><\/td><\/td>(8,750)<\/td><\/td><\/tr>
Proceeds from\/(Repayments of) commercial paper, net<\/td>(3,978)<\/td><\/td><\/td>3,955 <\/td><\/td><\/td>1,022 <\/td><\/td><\/tr>
Other<\/td>(581)<\/td><\/td><\/td>(160)<\/td><\/td><\/td>976 <\/td><\/td><\/tr>
Cash used in financing activities<\/td>(108,488)<\/td><\/td><\/td>(110,749)<\/td><\/td><\/td>(93,353)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Increase\/(Decrease) in cash, cash equivalents and restricted cash<\/td>5,760 <\/td><\/td><\/td>(10,952)<\/td><\/td><\/td>(3,860)<\/td><\/td><\/tr>
Cash, cash equivalents and restricted cash, ending balances<\/td>$<\/td>30,737 <\/td><\/td><\/td>$<\/td>24,977 <\/td><\/td><\/td>$<\/td>35,929 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Supplemental cash flow disclosure:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash paid for income taxes, net<\/td>$<\/td>18,679 <\/td><\/td><\/td>$<\/td>19,573 <\/td><\/td><\/td>$<\/td>25,385 <\/td><\/td><\/tr>
Cash paid for interest<\/td>$<\/td>3,803 <\/td><\/td><\/td>$<\/td>2,865 <\/td><\/td><\/td>$<\/td>2,687 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 32\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 39: \nNote 5 \u2013 Property, Plant and Equipment\n\nThe following table shows the Company's gross property, plant and equipment by major asset class and accumulated depreciation as of September 30, 2023 and September 24, 2022 (in millions):\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Land and buildings<\/td>$<\/td>23,446 <\/td><\/td><\/td>$<\/td>22,126 <\/td><\/td><\/tr>
Machinery, equipment and internal-use software<\/td>78,314 <\/td><\/td><\/td>81,060 <\/td><\/td><\/tr>
Leasehold improvements<\/td>12,839 <\/td><\/td><\/td>11,271 <\/td><\/td><\/tr>
Gross property, plant and equipment<\/td>114,599 <\/td><\/td><\/td>114,457 <\/td><\/td><\/tr>
Accumulated depreciation<\/td>(70,884)<\/td><\/td><\/td>(72,340)<\/td><\/td><\/tr>
Total property, plant and equipment, net<\/td>$<\/td>43,715 <\/td><\/td><\/td>$<\/td>42,117 <\/td><\/td><\/tr><\/table>Depreciation expense on property, plant and equipment was $8.5 billion, $8.7 billion and $9.5 billion during 2023, 2022 and 2021, respectively.\n\nNote 6 \u2013 Consolidated Financial Statement Details\n\nThe following tables show the Company's consolidated financial statement details as of September 30, 2023 and September 24, 2022 (in millions):\n\nOther Non-Current Assets\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Deferred tax assets<\/td>$<\/td>17,852 <\/td><\/td><\/td>$<\/td>15,375 <\/td><\/td><\/tr>
Other non-current assets<\/td>46,906 <\/td><\/td><\/td>39,053 <\/td><\/td><\/tr>
Total other non-current assets<\/td>$<\/td>64,758 <\/td><\/td><\/td>$<\/td>54,428 <\/td><\/td><\/tr><\/table>\nOther Current Liabilities\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Income taxes payable<\/td>$<\/td>8,819 <\/td><\/td><\/td>$<\/td>6,552 <\/td><\/td><\/tr>
Other current liabilities<\/td>50,010 <\/td><\/td><\/td>54,293 <\/td><\/td><\/tr>
Total other current liabilities<\/td>$<\/td>58,829 <\/td><\/td><\/td>$<\/td>60,845 <\/td><\/td><\/tr><\/table>\nOther Non-Current Liabilities\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Long-term taxes payable<\/td>$<\/td>15,457 <\/td><\/td><\/td>$<\/td>16,657 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>34,391 <\/td><\/td><\/td>32,485 <\/td><\/td><\/tr>
Total other non-current liabilities<\/td>$<\/td>49,848 <\/td><\/td><\/td>$<\/td>49,142 <\/td><\/td><\/tr><\/table>\nOther Income\/(Expense), Net\n\nThe following table shows the detail of other income\/(expense), net for 2023, 2022 and 2021 (in millions):\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest and dividend income<\/td>$<\/td>3,750 <\/td><\/td><\/td>$<\/td>2,825 <\/td><\/td><\/td>$<\/td>2,843 <\/td><\/td><\/tr>
Interest expense<\/td>(3,933)<\/td><\/td><\/td>(2,931)<\/td><\/td><\/td>(2,645)<\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(382)<\/td><\/td><\/td>(228)<\/td><\/td><\/td>60 <\/td><\/td><\/tr>
Total other income\/(expense), net<\/td>$<\/td>(565)<\/td><\/td><\/td>$<\/td>(334)<\/td><\/td><\/td>$<\/td>258 <\/td><\/td><\/tr><\/table>\nApple Inc. | 2023 Form 10-K | 39\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n\n(In millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
Other comprehensive income\/(loss):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in foreign currency translation, net of tax<\/td>(765)<\/td><\/td><\/td>(1,511)<\/td><\/td><\/td>501 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in unrealized gains\/losses on derivative instruments, net of tax:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in fair value of derivative instruments<\/td>323 <\/td><\/td><\/td>3,212 <\/td><\/td><\/td>32 <\/td><\/td><\/tr>
Adjustment for net (gains)\/losses realized and included in net income<\/td>(1,717)<\/td><\/td><\/td>(1,074)<\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Total change in unrealized gains\/losses on derivative instruments<\/td>(1,394)<\/td><\/td><\/td>2,138 <\/td><\/td><\/td>1,035 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in unrealized gains\/losses on marketable debt securities, net of tax:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in fair value of marketable debt securities<\/td>1,563 <\/td><\/td><\/td>(12,104)<\/td><\/td><\/td>(694)<\/td><\/td><\/tr>
Adjustment for net (gains)\/losses realized and included in net income<\/td>253 <\/td><\/td><\/td>205 <\/td><\/td><\/td>(273)<\/td><\/td><\/tr>
Total change in unrealized gains\/losses on marketable debt securities<\/td>1,816 <\/td><\/td><\/td>(11,899)<\/td><\/td><\/td>(967)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total other comprehensive income\/(loss)<\/td>(343)<\/td><\/td><\/td>(11,272)<\/td><\/td><\/td>569 <\/td><\/td><\/tr>
Total comprehensive income<\/td>$<\/td>96,652 <\/td><\/td><\/td>$<\/td>88,531 <\/td><\/td><\/td>$<\/td>95,249 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 29\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY\n\n(In millions, except per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Total shareholders' equity, beginning balances<\/td>$<\/td>50,672 <\/td><\/td><\/td>$<\/td>63,090 <\/td><\/td><\/td>$<\/td>65,339 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>64,849 <\/td><\/td><\/td>57,365 <\/td><\/td><\/td>50,779 <\/td><\/td><\/tr>
Common stock issued<\/td>1,346 <\/td><\/td><\/td>1,175 <\/td><\/td><\/td>1,105 <\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(3,521)<\/td><\/td><\/td>(2,971)<\/td><\/td><\/td>(2,627)<\/td><\/td><\/tr>
Share-based compensation<\/td>11,138 <\/td><\/td><\/td>9,280 <\/td><\/td><\/td>8,108 <\/td><\/td><\/tr>
Ending balances<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/td>57,365 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(3,068)<\/td><\/td><\/td>5,562 <\/td><\/td><\/td>14,966 <\/td><\/td><\/tr>
Net income<\/td>96,995 <\/td><\/td><\/td>99,803 <\/td><\/td><\/td>94,680 <\/td><\/td><\/tr>
Dividends and dividend equivalents declared<\/td>(14,996)<\/td><\/td><\/td>(14,793)<\/td><\/td><\/td>(14,431)<\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(2,099)<\/td><\/td><\/td>(3,454)<\/td><\/td><\/td>(4,151)<\/td><\/td><\/tr>
Common stock repurchased<\/td>(77,046)<\/td><\/td><\/td>(90,186)<\/td><\/td><\/td>(85,502)<\/td><\/td><\/tr>
Ending balances<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/td>5,562 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income\/(loss):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(11,109)<\/td><\/td><\/td>163 <\/td><\/td><\/td>(406)<\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(343)<\/td><\/td><\/td>(11,272)<\/td><\/td><\/td>569 <\/td><\/td><\/tr>
Ending balances<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/td>163 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total shareholders' equity, ending balances<\/td>$<\/td>62,146 <\/td><\/td><\/td>$<\/td>50,672 <\/td><\/td><\/td>$<\/td>63,090 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Dividends and dividend equivalents declared per share or RSU<\/td>$<\/td>0.94 <\/td><\/td><\/td>$<\/td>0.90 <\/td><\/td><\/td>$<\/td>0.85 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 31\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Cash, cash equivalents and restricted cash, beginning balances<\/td>$<\/td>24,977 <\/td><\/td><\/td>$<\/td>35,929 <\/td><\/td><\/td>$<\/td>39,789 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>96,995 <\/td><\/td><\/td>99,803 <\/td><\/td><\/td>94,680 <\/td><\/td><\/tr>
Adjustments to reconcile net income to cash generated by operating activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>11,519 <\/td><\/td><\/td>11,104 <\/td><\/td><\/td>11,284 <\/td><\/td><\/tr>
Share-based compensation expense<\/td>10,833 <\/td><\/td><\/td>9,038 <\/td><\/td><\/td>7,906 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(2,227)<\/td><\/td><\/td>1,006 <\/td><\/td><\/td>(4,921)<\/td><\/td><\/tr>
Changes in operating assets and liabilities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts receivable, net<\/td>(1,688)<\/td><\/td><\/td>(1,823)<\/td><\/td><\/td>(10,125)<\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>1,271 <\/td><\/td><\/td>(7,520)<\/td><\/td><\/td>(3,903)<\/td><\/td><\/tr>
Inventories<\/td>(1,618)<\/td><\/td><\/td>1,484 <\/td><\/td><\/td>(2,642)<\/td><\/td><\/tr>
Other current and non-current assets<\/td>(5,684)<\/td><\/td><\/td>(6,499)<\/td><\/td><\/td>(8,042)<\/td><\/td><\/tr>
Accounts payable<\/td>(1,889)<\/td><\/td><\/td>9,448 <\/td><\/td><\/td>12,326 <\/td><\/td><\/tr>
Other current and non-current liabilities<\/td>3,031 <\/td><\/td><\/td>6,110 <\/td><\/td><\/td>7,475 <\/td><\/td><\/tr>
Cash generated by operating activities<\/td>110,543 <\/td><\/td><\/td>122,151 <\/td><\/td><\/td>104,038 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investing activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Purchases of marketable securities<\/td>(29,513)<\/td><\/td><\/td>(76,923)<\/td><\/td><\/td>(109,558)<\/td><\/td><\/tr>
Proceeds from maturities of marketable securities<\/td>39,686 <\/td><\/td><\/td>29,917 <\/td><\/td><\/td>59,023 <\/td><\/td><\/tr>
Proceeds from sales of marketable securities<\/td>5,828 <\/td><\/td><\/td>37,446 <\/td><\/td><\/td>47,460 <\/td><\/td><\/tr>
Payments for acquisition of property, plant and equipment<\/td>(10,959)<\/td><\/td><\/td>(10,708)<\/td><\/td><\/td>(11,085)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(1,337)<\/td><\/td><\/td>(2,086)<\/td><\/td><\/td>(385)<\/td><\/td><\/tr>
Cash generated by\/(used in) investing activities<\/td>3,705 <\/td><\/td><\/td>(22,354)<\/td><\/td><\/td>(14,545)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Financing activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Payments for taxes related to net share settlement of equity awards<\/td>(5,431)<\/td><\/td><\/td>(6,223)<\/td><\/td><\/td>(6,556)<\/td><\/td><\/tr>
Payments for dividends and dividend equivalents<\/td>(15,025)<\/td><\/td><\/td>(14,841)<\/td><\/td><\/td>(14,467)<\/td><\/td><\/tr>
Repurchases of common stock<\/td>(77,550)<\/td><\/td><\/td>(89,402)<\/td><\/td><\/td>(85,971)<\/td><\/td><\/tr>
Proceeds from issuance of term debt, net<\/td>5,228 <\/td><\/td><\/td>5,465 <\/td><\/td><\/td>20,393 <\/td><\/td><\/tr>
Repayments of term debt<\/td>(11,151)<\/td><\/td><\/td>(9,543)<\/td><\/td><\/td>(8,750)<\/td><\/td><\/tr>
Proceeds from\/(Repayments of) commercial paper, net<\/td>(3,978)<\/td><\/td><\/td>3,955 <\/td><\/td><\/td>1,022 <\/td><\/td><\/tr>
Other<\/td>(581)<\/td><\/td><\/td>(160)<\/td><\/td><\/td>976 <\/td><\/td><\/tr>
Cash used in financing activities<\/td>(108,488)<\/td><\/td><\/td>(110,749)<\/td><\/td><\/td>(93,353)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Increase\/(Decrease) in cash, cash equivalents and restricted cash<\/td>5,760 <\/td><\/td><\/td>(10,952)<\/td><\/td><\/td>(3,860)<\/td><\/td><\/tr>
Cash, cash equivalents and restricted cash, ending balances<\/td>$<\/td>30,737 <\/td><\/td><\/td>$<\/td>24,977 <\/td><\/td><\/td>$<\/td>35,929 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Supplemental cash flow disclosure:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash paid for income taxes, net<\/td>$<\/td>18,679 <\/td><\/td><\/td>$<\/td>19,573 <\/td><\/td><\/td>$<\/td>25,385 <\/td><\/td><\/tr>
Cash paid for interest<\/td>$<\/td>3,803 <\/td><\/td><\/td>$<\/td>2,865 <\/td><\/td><\/td>$<\/td>2,687 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 32\n\n\n\n\n\n, \nNote 5 \u2013 Property, Plant and Equipment\n\nThe following table shows the Company's gross property, plant and equipment by major asset class and accumulated depreciation as of September 30, 2023 and September 24, 2022 (in millions):\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Land and buildings<\/td>$<\/td>23,446 <\/td><\/td><\/td>$<\/td>22,126 <\/td><\/td><\/tr>
Machinery, equipment and internal-use software<\/td>78,314 <\/td><\/td><\/td>81,060 <\/td><\/td><\/tr>
Leasehold improvements<\/td>12,839 <\/td><\/td><\/td>11,271 <\/td><\/td><\/tr>
Gross property, plant and equipment<\/td>114,599 <\/td><\/td><\/td>114,457 <\/td><\/td><\/tr>
Accumulated depreciation<\/td>(70,884)<\/td><\/td><\/td>(72,340)<\/td><\/td><\/tr>
Total property, plant and equipment, net<\/td>$<\/td>43,715 <\/td><\/td><\/td>$<\/td>42,117 <\/td><\/td><\/tr><\/table>Depreciation expense on property, plant and equipment was $8.5 billion, $8.7 billion and $9.5 billion during 2023, 2022 and 2021, respectively.\n\nNote 6 \u2013 Consolidated Financial Statement Details\n\nThe following tables show the Company's consolidated financial statement details as of September 30, 2023 and September 24, 2022 (in millions):\n\nOther Non-Current Assets\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Deferred tax assets<\/td>$<\/td>17,852 <\/td><\/td><\/td>$<\/td>15,375 <\/td><\/td><\/tr>
Other non-current assets<\/td>46,906 <\/td><\/td><\/td>39,053 <\/td><\/td><\/tr>
Total other non-current assets<\/td>$<\/td>64,758 <\/td><\/td><\/td>$<\/td>54,428 <\/td><\/td><\/tr><\/table>\nOther Current Liabilities\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Income taxes payable<\/td>$<\/td>8,819 <\/td><\/td><\/td>$<\/td>6,552 <\/td><\/td><\/tr>
Other current liabilities<\/td>50,010 <\/td><\/td><\/td>54,293 <\/td><\/td><\/tr>
Total other current liabilities<\/td>$<\/td>58,829 <\/td><\/td><\/td>$<\/td>60,845 <\/td><\/td><\/tr><\/table>\nOther Non-Current Liabilities\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Long-term taxes payable<\/td>$<\/td>15,457 <\/td><\/td><\/td>$<\/td>16,657 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>34,391 <\/td><\/td><\/td>32,485 <\/td><\/td><\/tr>
Total other non-current liabilities<\/td>$<\/td>49,848 <\/td><\/td><\/td>$<\/td>49,142 <\/td><\/td><\/tr><\/table>\nOther Income\/(Expense), Net\n\nThe following table shows the detail of other income\/(expense), net for 2023, 2022 and 2021 (in millions):\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest and dividend income<\/td>$<\/td>3,750 <\/td><\/td><\/td>$<\/td>2,825 <\/td><\/td><\/td>$<\/td>2,843 <\/td><\/td><\/tr>
Interest expense<\/td>(3,933)<\/td><\/td><\/td>(2,931)<\/td><\/td><\/td>(2,645)<\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(382)<\/td><\/td><\/td>(228)<\/td><\/td><\/td>60 <\/td><\/td><\/tr>
Total other income\/(expense), net<\/td>$<\/td>(565)<\/td><\/td><\/td>$<\/td>(334)<\/td><\/td><\/td>$<\/td>258 <\/td><\/td><\/tr><\/table>\nApple Inc. | 2023 Form 10-K | 39\n\n\n\n\n\n"} +{"QID":"q_Ra002","Question":"Analyse the profitability for year 2024 and 2023 of the P&G using ratio analysis","ground_truth_answer":"Profitability Ratio Analysis for Procter & Gamble (P&G) in 2023 and 2024\nGross Profit Margin:\n2024: 51.4%\n2023: 47.6%\n\nOperating Profit Margin:\n2024: 22.1%\n2023: 22.1%\n\nNet Profit Margin:\n2024: 17.7%\n2023: 17.9%\n\n\nReturn on Equity (ROE):\n2024: 30.5%\n2023: 31.2%\n\nAnalysis:\nIn 2024, Procter & Gamble continued to exhibit strong profitability, despite minor fluctuations in certain metrics. The slight decline in the gross profit margin, sable operating margin, suggests effective cost management and operational efficiency. The decrease in the net profit margin, while small, points to potential increased non-operating costs. However, the improvements in ROA and ROE highlight enhanced efficiency and value creation for shareholders. Overall, P&G's profitability remains robust, reflecting its strong market position and effective financial management.","question_type":"Ratio","page_number":"36, 37","accession_number":"0000080424-24-000083","item":"Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 37: \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------|:----------|:--------|:-----|:----------|:---|:--------|\n| 1 | Amounts in millions except stated values; as of June 30 | 2024 | | 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | CURRENT ASSETS | | | | | | |\n| 4 | Cash and cash equivalents | $ | 9,482 | | | $ | 8,246 |\n| 5 | Accounts receivable | 6,118 | | | 5,471 | | |\n| 6 | INVENTORIES | | | | | | |\n| 7 | Materials and supplies | 1,617 | | | 1,863 | | |\n| 8 | Work in process | 929 | | | 956 | | |\n| 9 | Finished goods | 4,470 | | | 4,254 | | |\n| 10 | Total inventories | 7,016 | | | 7,073 | | |\n| 11 | Prepaid expenses and other current assets | 2,095 | | | 1,858 | | |\n| 12 | TOTAL CURRENT ASSETS | 24,709 | | | 22,648 | | |\n| 13 | PROPERTY, PLANT AND EQUIPMENT, NET | 22,152 | | | 21,909 | | |\n| 14 | GOODWILL | 40,303 | | | 40,659 | | |\n| 15 | TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET | 22,047 | | | 23,783 | | |\n| 16 | OTHER NONCURRENT ASSETS | 13,158 | | | 11,830 | | |\n| 17 | TOTAL ASSETS | $ | 122,370 | | | $ | 120,829 |\n| 19 | Liabilities and Shareholders' Equity | | | | | | |\n| 20 | CURRENT LIABILITIES | | | | | | |\n| 21 | Accounts payable | $ | 15,364 | | | $ | 14,598 |\n| 22 | Accrued and other liabilities | 11,073 | | | 10,929 | | |\n| 23 | Debt due within one year | 7,191 | | | 10,229 | | |\n| 24 | TOTAL CURRENT LIABILITIES | 33,627 | | | 35,756 | | |\n| 25 | LONG-TERM DEBT | 25,269 | | | 24,378 | | |\n| 26 | DEFERRED INCOME TAXES | 6,516 | | | 6,478 | | |\n| 27 | OTHER NONCURRENT LIABILITIES | 6,398 | | | 7,152 | | |\n| 28 | TOTAL LIABILITIES | 71,811 | | | 73,764 | | |\n| 29 | SHAREHOLDERS' EQUITY | | | | | | |\n| 30 | Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) | 798 | | | 819 | | |\n| 31 | Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) | - | | | - | | |\n| 32 | Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2) | 4,009 | | | 4,009 | | |\n| 33 | Additional paid-in capital | 67,684 | | | 66,556 | | |\n| 34 | Reserve for ESOP debt retirement | (737) | | | (821) | | |\n| 35 | Accumulated other comprehensive loss | (11,900) | | | (12,220) | | |\n| 36 | Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1) | (133,379) | | | (129,736) | | |\n| 37 | Retained earnings | 123,811 | | | 118,170 | | |\n| 38 | Noncontrolling interest | 272 | | | 288 | | |\n| 39 | TOTAL SHAREHOLDERS' EQUITY | 50,559 | | | 47,065 | | |\n| 40 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 122,370 | | | $ | 120,829 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_markdown_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------|:----------|:--------|:-----|:----------|:---|:--------|\n| 1 | Amounts in millions except stated values; as of June 30 | 2024 | | 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | CURRENT ASSETS | | | | | | |\n| 4 | Cash and cash equivalents | $ | 9,482 | | | $ | 8,246 |\n| 5 | Accounts receivable | 6,118 | | | 5,471 | | |\n| 6 | INVENTORIES | | | | | | |\n| 7 | Materials and supplies | 1,617 | | | 1,863 | | |\n| 8 | Work in process | 929 | | | 956 | | |\n| 9 | Finished goods | 4,470 | | | 4,254 | | |\n| 10 | Total inventories | 7,016 | | | 7,073 | | |\n| 11 | Prepaid expenses and other current assets | 2,095 | | | 1,858 | | |\n| 12 | TOTAL CURRENT ASSETS | 24,709 | | | 22,648 | | |\n| 13 | PROPERTY, PLANT AND EQUIPMENT, NET | 22,152 | | | 21,909 | | |\n| 14 | GOODWILL | 40,303 | | | 40,659 | | |\n| 15 | TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET | 22,047 | | | 23,783 | | |\n| 16 | OTHER NONCURRENT ASSETS | 13,158 | | | 11,830 | | |\n| 17 | TOTAL ASSETS | $ | 122,370 | | | $ | 120,829 |\n| 19 | Liabilities and Shareholders' Equity | | | | | | |\n| 20 | CURRENT LIABILITIES | | | | | | |\n| 21 | Accounts payable | $ | 15,364 | | | $ | 14,598 |\n| 22 | Accrued and other liabilities | 11,073 | | | 10,929 | | |\n| 23 | Debt due within one year | 7,191 | | | 10,229 | | |\n| 24 | TOTAL CURRENT LIABILITIES | 33,627 | | | 35,756 | | |\n| 25 | LONG-TERM DEBT | 25,269 | | | 24,378 | | |\n| 26 | DEFERRED INCOME TAXES | 6,516 | | | 6,478 | | |\n| 27 | OTHER NONCURRENT LIABILITIES | 6,398 | | | 7,152 | | |\n| 28 | TOTAL LIABILITIES | 71,811 | | | 73,764 | | |\n| 29 | SHAREHOLDERS' EQUITY | | | | | | |\n| 30 | Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) | 798 | | | 819 | | |\n| 31 | Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) | - | | | - | | |\n| 32 | Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2) | 4,009 | | | 4,009 | | |\n| 33 | Additional paid-in capital | 67,684 | | | 66,556 | | |\n| 34 | Reserve for ESOP debt retirement | (737) | | | (821) | | |\n| 35 | Accumulated other comprehensive loss | (11,900) | | | (12,220) | | |\n| 36 | Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1) | (133,379) | | | (129,736) | | |\n| 37 | Retained earnings | 123,811 | | | 118,170 | | |\n| 38 | Noncontrolling interest | 272 | | | 288 | | |\n| 39 | TOTAL SHAREHOLDERS' EQUITY | 50,559 | | | 47,065 | | |\n| 40 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 122,370 | | | $ | 120,829 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 37: \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except stated values; as of June 30<\/td>2024<\/td><\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
CURRENT ASSETS<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/tr>
Accounts receivable<\/td>6,118 <\/td><\/td><\/td>5,471 <\/td><\/td><\/tr>
INVENTORIES<\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td>1,617 <\/td><\/td><\/td>1,863 <\/td><\/td><\/tr>
Work in process<\/td>929 <\/td><\/td><\/td>956 <\/td><\/td><\/tr>
Finished goods<\/td>4,470 <\/td><\/td><\/td>4,254 <\/td><\/td><\/tr>
Total inventories<\/td>7,016 <\/td><\/td><\/td>7,073 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>2,095 <\/td><\/td><\/td>1,858 <\/td><\/td><\/tr>
TOTAL CURRENT ASSETS<\/td>24,709 <\/td><\/td><\/td>22,648 <\/td><\/td><\/tr>
PROPERTY, PLANT AND EQUIPMENT, NET<\/td>22,152 <\/td><\/td><\/td>21,909 <\/td><\/td><\/tr>
GOODWILL<\/td>40,303 <\/td><\/td><\/td>40,659 <\/td><\/td><\/tr>
TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET<\/td>22,047 <\/td><\/td><\/td>23,783 <\/td><\/td><\/tr>
OTHER NONCURRENT ASSETS<\/td>13,158 <\/td><\/td><\/td>11,830 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
CURRENT LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>15,364 <\/td><\/td><\/td>$<\/td>14,598 <\/td><\/td><\/tr>
Accrued and other liabilities<\/td>11,073 <\/td><\/td><\/td>10,929 <\/td><\/td><\/tr>
Debt due within one year<\/td>7,191 <\/td><\/td><\/td>10,229 <\/td><\/td><\/tr>
TOTAL CURRENT LIABILITIES<\/td>33,627 <\/td><\/td><\/td>35,756 <\/td><\/td><\/tr>
LONG-TERM DEBT<\/td>25,269 <\/td><\/td><\/td>24,378 <\/td><\/td><\/tr>
DEFERRED INCOME TAXES<\/td>6,516 <\/td><\/td><\/td>6,478 <\/td><\/td><\/tr>
OTHER NONCURRENT LIABILITIES<\/td>6,398 <\/td><\/td><\/td>7,152 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td>71,811 <\/td><\/td><\/td>73,764 <\/td><\/td><\/tr>
SHAREHOLDERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Convertible Class A preferred stock, stated value $1 per share (600 shares authorized)<\/td>798 <\/td><\/td><\/td>819 <\/td><\/td><\/tr>
Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized)<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2)<\/td>4,009 <\/td><\/td><\/td>4,009 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>67,684 <\/td><\/td><\/td>66,556 <\/td><\/td><\/tr>
Reserve for ESOP debt retirement<\/td>(737)<\/td><\/td><\/td>(821)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,900)<\/td><\/td><\/td>(12,220)<\/td><\/td><\/tr>
Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1)<\/td>(133,379)<\/td><\/td><\/td>(129,736)<\/td><\/td><\/tr>
Retained earnings<\/td>123,811 <\/td><\/td><\/td>118,170 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>272 <\/td><\/td><\/td>288 <\/td><\/td><\/tr>
TOTAL SHAREHOLDERS' EQUITY<\/td>50,559 <\/td><\/td><\/td>47,065 <\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except stated values; as of June 30<\/td>2024<\/td><\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
CURRENT ASSETS<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/tr>
Accounts receivable<\/td>6,118 <\/td><\/td><\/td>5,471 <\/td><\/td><\/tr>
INVENTORIES<\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td>1,617 <\/td><\/td><\/td>1,863 <\/td><\/td><\/tr>
Work in process<\/td>929 <\/td><\/td><\/td>956 <\/td><\/td><\/tr>
Finished goods<\/td>4,470 <\/td><\/td><\/td>4,254 <\/td><\/td><\/tr>
Total inventories<\/td>7,016 <\/td><\/td><\/td>7,073 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>2,095 <\/td><\/td><\/td>1,858 <\/td><\/td><\/tr>
TOTAL CURRENT ASSETS<\/td>24,709 <\/td><\/td><\/td>22,648 <\/td><\/td><\/tr>
PROPERTY, PLANT AND EQUIPMENT, NET<\/td>22,152 <\/td><\/td><\/td>21,909 <\/td><\/td><\/tr>
GOODWILL<\/td>40,303 <\/td><\/td><\/td>40,659 <\/td><\/td><\/tr>
TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET<\/td>22,047 <\/td><\/td><\/td>23,783 <\/td><\/td><\/tr>
OTHER NONCURRENT ASSETS<\/td>13,158 <\/td><\/td><\/td>11,830 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
CURRENT LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>15,364 <\/td><\/td><\/td>$<\/td>14,598 <\/td><\/td><\/tr>
Accrued and other liabilities<\/td>11,073 <\/td><\/td><\/td>10,929 <\/td><\/td><\/tr>
Debt due within one year<\/td>7,191 <\/td><\/td><\/td>10,229 <\/td><\/td><\/tr>
TOTAL CURRENT LIABILITIES<\/td>33,627 <\/td><\/td><\/td>35,756 <\/td><\/td><\/tr>
LONG-TERM DEBT<\/td>25,269 <\/td><\/td><\/td>24,378 <\/td><\/td><\/tr>
DEFERRED INCOME TAXES<\/td>6,516 <\/td><\/td><\/td>6,478 <\/td><\/td><\/tr>
OTHER NONCURRENT LIABILITIES<\/td>6,398 <\/td><\/td><\/td>7,152 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td>71,811 <\/td><\/td><\/td>73,764 <\/td><\/td><\/tr>
SHAREHOLDERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Convertible Class A preferred stock, stated value $1 per share (600 shares authorized)<\/td>798 <\/td><\/td><\/td>819 <\/td><\/td><\/tr>
Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized)<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2)<\/td>4,009 <\/td><\/td><\/td>4,009 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>67,684 <\/td><\/td><\/td>66,556 <\/td><\/td><\/tr>
Reserve for ESOP debt retirement<\/td>(737)<\/td><\/td><\/td>(821)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,900)<\/td><\/td><\/td>(12,220)<\/td><\/td><\/tr>
Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1)<\/td>(133,379)<\/td><\/td><\/td>(129,736)<\/td><\/td><\/tr>
Retained earnings<\/td>123,811 <\/td><\/td><\/td>118,170 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>272 <\/td><\/td><\/td>288 <\/td><\/td><\/tr>
TOTAL SHAREHOLDERS' EQUITY<\/td>50,559 <\/td><\/td><\/td>47,065 <\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n"} +{"QID":"q_Ra003","Question":"What are the key findings from the profitability analysis of Apple Inc. for the year 2023?","ground_truth_answer":"The key findings from the profitability analysis of Apple Inc. for the year 2023 are as follows:\n- Gross Margin: The gross margin for 2023 is $169,148 million, which indicates the company's ability to generate profit from its core business activities after accounting for the cost of goods sold.\n- Operating Income: The operating income for 2023 is $114,301 million, reflecting the company's efficiency in managing its operating expenses, including research and development and selling, general, and administrative expenses.\n- Net Income: The net income for 2023 is $96,995 million, showcasing the company's overall profitability after accounting for all expenses, including taxes and other income\/expenses.\n- Earnings Per Share (EPS): The basic EPS for 2023 is $6.16, and the diluted EPS is $6.13, indicating the earnings attributable to each share of the company's stock.\nOverall, Apple Inc. has demonstrated strong profitability in 2023, with significant gross margin, operating income, and net income, reflecting its ability to generate substantial profits from its operations.","question_type":"Ratio","page_number":28,"accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n"} +{"QID":"q_Ra004","Question":"How does the solvency position of Apple Inc. look based on the balance sheet data for 2023?","ground_truth_answer":"The solvency position of Apple Inc. for 2023 can be assessed using the balance sheet data:\n- Total Assets: $352,583 million\n- Total Liabilities: $290,437 million\n- Total Shareholders' Equity: $62,146 million\nThe company's total liabilities are significantly higher than its total shareholders' equity, indicating a higher reliance on debt financing. However, the company has substantial total assets, which can cover its total liabilities. The term debt for 2023 is $105,103 million (current and non-current), and the company's cash and cash equivalents are $29,965 million, with additional marketable securities of $31,590 million (current) and $100,544 million (non-current). This indicates that Apple Inc. has sufficient liquidity to meet its debt obligations. Overall, while the company has a high level of debt, its strong asset base and liquidity position suggest a stable solvency position.","question_type":"Ratio","page_number":"29,30,31,32","accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 29: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n\n(In millions)\n| | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------|:------------------|:-------|:------------------|:---------|:------------------|:-------|:------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 4 | Other comprehensive income\/(loss): | | | | | | | | | |\n| 5 | Change in foreign currency translation, net of tax | (765) | | | (1,511) | | | 501 | | |\n| 7 | Change in unrealized gains\/losses on derivative instruments, net of tax: | | | | | | | | | |\n| 8 | Change in fair value of derivative instruments | 323 | | | 3,212 | | | 32 | | |\n| 9 | Adjustment for net (gains)\/losses realized and included in net income | (1,717) | | | (1,074) | | | 1,003 | | |\n| 10 | Total change in unrealized gains\/losses on derivative instruments | (1,394) | | | 2,138 | | | 1,035 | | |\n| 12 | Change in unrealized gains\/losses on marketable debt securities, net of tax: | | | | | | | | | |\n| 13 | Change in fair value of marketable debt securities | 1,563 | | | (12,104) | | | (694) | | |\n| 14 | Adjustment for net (gains)\/losses realized and included in net income | 253 | | | 205 | | | (273) | | |\n| 15 | Total change in unrealized gains\/losses on marketable debt securities | 1,816 | | | (11,899) | | | (967) | | |\n| 17 | Total other comprehensive income\/(loss) | (343) | | | (11,272) | | | 569 | | |\n| 18 | Total comprehensive income | $ | 96,652 | | | $ | 88,531 | | $ | 95,249 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 29\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 31: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY\n\n(In millions, except per-share amounts)\n| | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------|:------------------|:-------|:------------------|:---------|:------------------|:-------|:---------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Total shareholders' equity, beginning balances | $ | 50,672 | | | $ | 63,090 | | $ | 65,339 |\n| 5 | Common stock and additional paid-in capital: | | | | | | | | | |\n| 6 | Beginning balances | 64,849 | | | 57,365 | | | 50,779 | | |\n| 7 | Common stock issued | 1,346 | | | 1,175 | | | 1,105 | | |\n| 8 | Common stock withheld related to net share settlement of equity awards | (3,521) | | | (2,971) | | | (2,627) | | |\n| 9 | Share-based compensation | 11,138 | | | 9,280 | | | 8,108 | | |\n| 10 | Ending balances | 73,812 | | | 64,849 | | | 57,365 | | |\n| 12 | Retained earnings\/(Accumulated deficit): | | | | | | | | | |\n| 13 | Beginning balances | (3,068) | | | 5,562 | | | 14,966 | | |\n| 14 | Net income | 96,995 | | | 99,803 | | | 94,680 | | |\n| 15 | Dividends and dividend equivalents declared | (14,996) | | | (14,793) | | | (14,431) | | |\n| 16 | Common stock withheld related to net share settlement of equity awards | (2,099) | | | (3,454) | | | (4,151) | | |\n| 17 | Common stock repurchased | (77,046) | | | (90,186) | | | (85,502) | | |\n| 18 | Ending balances | (214) | | | (3,068) | | | 5,562 | | |\n| 20 | Accumulated other comprehensive income\/(loss): | | | | | | | | | |\n| 21 | Beginning balances | (11,109) | | | 163 | | | (406) | | |\n| 22 | Other comprehensive income\/(loss) | (343) | | | (11,272) | | | 569 | | |\n| 23 | Ending balances | (11,452) | | | (11,109) | | | 163 | | |\n| 25 | Total shareholders' equity, ending balances | $ | 62,146 | | | $ | 50,672 | | $ | 63,090 |\n| 27 | Dividends and dividend equivalents declared per share or RSU | $ | 0.94 | | | $ | 0.90 | | $ | 0.85 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 31\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 32: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------|:------------------|:-------|:------------------|:----------|:------------------|:-------|:----------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Cash, cash equivalents and restricted cash, beginning balances | $ | 24,977 | | | $ | 35,929 | | $ | 39,789 |\n| 5 | Operating activities: | | | | | | | | | |\n| 6 | Net income | 96,995 | | | 99,803 | | | 94,680 | | |\n| 7 | Adjustments to reconcile net income to cash generated by operating activities: | | | | | | | | | |\n| 8 | Depreciation and amortization | 11,519 | | | 11,104 | | | 11,284 | | |\n| 9 | Share-based compensation expense | 10,833 | | | 9,038 | | | 7,906 | | |\n| 11 | Other | (2,227) | | | 1,006 | | | (4,921) | | |\n| 12 | Changes in operating assets and liabilities: | | | | | | | | | |\n| 13 | Accounts receivable, net | (1,688) | | | (1,823) | | | (10,125) | | |\n| 14 | Vendor non-trade receivables | 1,271 | | | (7,520) | | | (3,903) | | |\n| 15 | Inventories | (1,618) | | | 1,484 | | | (2,642) | | |\n| 16 | Other current and non-current assets | (5,684) | | | (6,499) | | | (8,042) | | |\n| 17 | Accounts payable | (1,889) | | | 9,448 | | | 12,326 | | |\n| 18 | Other current and non-current liabilities | 3,031 | | | 6,110 | | | 7,475 | | |\n| 19 | Cash generated by operating activities | 110,543 | | | 122,151 | | | 104,038 | | |\n| 21 | Investing activities: | | | | | | | | | |\n| 22 | Purchases of marketable securities | (29,513) | | | (76,923) | | | (109,558) | | |\n| 23 | Proceeds from maturities of marketable securities | 39,686 | | | 29,917 | | | 59,023 | | |\n| 24 | Proceeds from sales of marketable securities | 5,828 | | | 37,446 | | | 47,460 | | |\n| 25 | Payments for acquisition of property, plant and equipment | (10,959) | | | (10,708) | | | (11,085) | | |\n| 27 | Other | (1,337) | | | (2,086) | | | (385) | | |\n| 28 | Cash generated by\/(used in) investing activities | 3,705 | | | (22,354) | | | (14,545) | | |\n| 30 | Financing activities: | | | | | | | | | |\n| 31 | Payments for taxes related to net share settlement of equity awards | (5,431) | | | (6,223) | | | (6,556) | | |\n| 32 | Payments for dividends and dividend equivalents | (15,025) | | | (14,841) | | | (14,467) | | |\n| 33 | Repurchases of common stock | (77,550) | | | (89,402) | | | (85,971) | | |\n| 34 | Proceeds from issuance of term debt, net | 5,228 | | | 5,465 | | | 20,393 | | |\n| 35 | Repayments of term debt | (11,151) | | | (9,543) | | | (8,750) | | |\n| 36 | Proceeds from\/(Repayments of) commercial paper, net | (3,978) | | | 3,955 | | | 1,022 | | |\n| 37 | Other | (581) | | | (160) | | | 976 | | |\n| 38 | Cash used in financing activities | (108,488) | | | (110,749) | | | (93,353) | | |\n| 40 | Increase\/(Decrease) in cash, cash equivalents and restricted cash | 5,760 | | | (10,952) | | | (3,860) | | |\n| 41 | Cash, cash equivalents and restricted cash, ending balances | $ | 30,737 | | | $ | 24,977 | | $ | 35,929 |\n| 43 | Supplemental cash flow disclosure: | | | | | | | | | |\n| 44 | Cash paid for income taxes, net | $ | 18,679 | | | $ | 19,573 | | $ | 25,385 |\n| 45 | Cash paid for interest | $ | 3,803 | | | $ | 2,865 | | $ | 2,687 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 32\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n\n(In millions)\n| | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------|:------------------|:-------|:------------------|:---------|:------------------|:-------|:------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 4 | Other comprehensive income\/(loss): | | | | | | | | | |\n| 5 | Change in foreign currency translation, net of tax | (765) | | | (1,511) | | | 501 | | |\n| 7 | Change in unrealized gains\/losses on derivative instruments, net of tax: | | | | | | | | | |\n| 8 | Change in fair value of derivative instruments | 323 | | | 3,212 | | | 32 | | |\n| 9 | Adjustment for net (gains)\/losses realized and included in net income | (1,717) | | | (1,074) | | | 1,003 | | |\n| 10 | Total change in unrealized gains\/losses on derivative instruments | (1,394) | | | 2,138 | | | 1,035 | | |\n| 12 | Change in unrealized gains\/losses on marketable debt securities, net of tax: | | | | | | | | | |\n| 13 | Change in fair value of marketable debt securities | 1,563 | | | (12,104) | | | (694) | | |\n| 14 | Adjustment for net (gains)\/losses realized and included in net income | 253 | | | 205 | | | (273) | | |\n| 15 | Total change in unrealized gains\/losses on marketable debt securities | 1,816 | | | (11,899) | | | (967) | | |\n| 17 | Total other comprehensive income\/(loss) | (343) | | | (11,272) | | | 569 | | |\n| 18 | Total comprehensive income | $ | 96,652 | | | $ | 88,531 | | $ | 95,249 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 29\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY\n\n(In millions, except per-share amounts)\n| | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------|:------------------|:-------|:------------------|:---------|:------------------|:-------|:---------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Total shareholders' equity, beginning balances | $ | 50,672 | | | $ | 63,090 | | $ | 65,339 |\n| 5 | Common stock and additional paid-in capital: | | | | | | | | | |\n| 6 | Beginning balances | 64,849 | | | 57,365 | | | 50,779 | | |\n| 7 | Common stock issued | 1,346 | | | 1,175 | | | 1,105 | | |\n| 8 | Common stock withheld related to net share settlement of equity awards | (3,521) | | | (2,971) | | | (2,627) | | |\n| 9 | Share-based compensation | 11,138 | | | 9,280 | | | 8,108 | | |\n| 10 | Ending balances | 73,812 | | | 64,849 | | | 57,365 | | |\n| 12 | Retained earnings\/(Accumulated deficit): | | | | | | | | | |\n| 13 | Beginning balances | (3,068) | | | 5,562 | | | 14,966 | | |\n| 14 | Net income | 96,995 | | | 99,803 | | | 94,680 | | |\n| 15 | Dividends and dividend equivalents declared | (14,996) | | | (14,793) | | | (14,431) | | |\n| 16 | Common stock withheld related to net share settlement of equity awards | (2,099) | | | (3,454) | | | (4,151) | | |\n| 17 | Common stock repurchased | (77,046) | | | (90,186) | | | (85,502) | | |\n| 18 | Ending balances | (214) | | | (3,068) | | | 5,562 | | |\n| 20 | Accumulated other comprehensive income\/(loss): | | | | | | | | | |\n| 21 | Beginning balances | (11,109) | | | 163 | | | (406) | | |\n| 22 | Other comprehensive income\/(loss) | (343) | | | (11,272) | | | 569 | | |\n| 23 | Ending balances | (11,452) | | | (11,109) | | | 163 | | |\n| 25 | Total shareholders' equity, ending balances | $ | 62,146 | | | $ | 50,672 | | $ | 63,090 |\n| 27 | Dividends and dividend equivalents declared per share or RSU | $ | 0.94 | | | $ | 0.90 | | $ | 0.85 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 31\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------|:------------------|:-------|:------------------|:----------|:------------------|:-------|:----------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Cash, cash equivalents and restricted cash, beginning balances | $ | 24,977 | | | $ | 35,929 | | $ | 39,789 |\n| 5 | Operating activities: | | | | | | | | | |\n| 6 | Net income | 96,995 | | | 99,803 | | | 94,680 | | |\n| 7 | Adjustments to reconcile net income to cash generated by operating activities: | | | | | | | | | |\n| 8 | Depreciation and amortization | 11,519 | | | 11,104 | | | 11,284 | | |\n| 9 | Share-based compensation expense | 10,833 | | | 9,038 | | | 7,906 | | |\n| 11 | Other | (2,227) | | | 1,006 | | | (4,921) | | |\n| 12 | Changes in operating assets and liabilities: | | | | | | | | | |\n| 13 | Accounts receivable, net | (1,688) | | | (1,823) | | | (10,125) | | |\n| 14 | Vendor non-trade receivables | 1,271 | | | (7,520) | | | (3,903) | | |\n| 15 | Inventories | (1,618) | | | 1,484 | | | (2,642) | | |\n| 16 | Other current and non-current assets | (5,684) | | | (6,499) | | | (8,042) | | |\n| 17 | Accounts payable | (1,889) | | | 9,448 | | | 12,326 | | |\n| 18 | Other current and non-current liabilities | 3,031 | | | 6,110 | | | 7,475 | | |\n| 19 | Cash generated by operating activities | 110,543 | | | 122,151 | | | 104,038 | | |\n| 21 | Investing activities: | | | | | | | | | |\n| 22 | Purchases of marketable securities | (29,513) | | | (76,923) | | | (109,558) | | |\n| 23 | Proceeds from maturities of marketable securities | 39,686 | | | 29,917 | | | 59,023 | | |\n| 24 | Proceeds from sales of marketable securities | 5,828 | | | 37,446 | | | 47,460 | | |\n| 25 | Payments for acquisition of property, plant and equipment | (10,959) | | | (10,708) | | | (11,085) | | |\n| 27 | Other | (1,337) | | | (2,086) | | | (385) | | |\n| 28 | Cash generated by\/(used in) investing activities | 3,705 | | | (22,354) | | | (14,545) | | |\n| 30 | Financing activities: | | | | | | | | | |\n| 31 | Payments for taxes related to net share settlement of equity awards | (5,431) | | | (6,223) | | | (6,556) | | |\n| 32 | Payments for dividends and dividend equivalents | (15,025) | | | (14,841) | | | (14,467) | | |\n| 33 | Repurchases of common stock | (77,550) | | | (89,402) | | | (85,971) | | |\n| 34 | Proceeds from issuance of term debt, net | 5,228 | | | 5,465 | | | 20,393 | | |\n| 35 | Repayments of term debt | (11,151) | | | (9,543) | | | (8,750) | | |\n| 36 | Proceeds from\/(Repayments of) commercial paper, net | (3,978) | | | 3,955 | | | 1,022 | | |\n| 37 | Other | (581) | | | (160) | | | 976 | | |\n| 38 | Cash used in financing activities | (108,488) | | | (110,749) | | | (93,353) | | |\n| 40 | Increase\/(Decrease) in cash, cash equivalents and restricted cash | 5,760 | | | (10,952) | | | (3,860) | | |\n| 41 | Cash, cash equivalents and restricted cash, ending balances | $ | 30,737 | | | $ | 24,977 | | $ | 35,929 |\n| 43 | Supplemental cash flow disclosure: | | | | | | | | | |\n| 44 | Cash paid for income taxes, net | $ | 18,679 | | | $ | 19,573 | | $ | 25,385 |\n| 45 | Cash paid for interest | $ | 3,803 | | | $ | 2,865 | | $ | 2,687 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 32\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 29: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n\n(In millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
Other comprehensive income\/(loss):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in foreign currency translation, net of tax<\/td>(765)<\/td><\/td><\/td>(1,511)<\/td><\/td><\/td>501 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in unrealized gains\/losses on derivative instruments, net of tax:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in fair value of derivative instruments<\/td>323 <\/td><\/td><\/td>3,212 <\/td><\/td><\/td>32 <\/td><\/td><\/tr>
Adjustment for net (gains)\/losses realized and included in net income<\/td>(1,717)<\/td><\/td><\/td>(1,074)<\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Total change in unrealized gains\/losses on derivative instruments<\/td>(1,394)<\/td><\/td><\/td>2,138 <\/td><\/td><\/td>1,035 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in unrealized gains\/losses on marketable debt securities, net of tax:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in fair value of marketable debt securities<\/td>1,563 <\/td><\/td><\/td>(12,104)<\/td><\/td><\/td>(694)<\/td><\/td><\/tr>
Adjustment for net (gains)\/losses realized and included in net income<\/td>253 <\/td><\/td><\/td>205 <\/td><\/td><\/td>(273)<\/td><\/td><\/tr>
Total change in unrealized gains\/losses on marketable debt securities<\/td>1,816 <\/td><\/td><\/td>(11,899)<\/td><\/td><\/td>(967)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total other comprehensive income\/(loss)<\/td>(343)<\/td><\/td><\/td>(11,272)<\/td><\/td><\/td>569 <\/td><\/td><\/tr>
Total comprehensive income<\/td>$<\/td>96,652 <\/td><\/td><\/td>$<\/td>88,531 <\/td><\/td><\/td>$<\/td>95,249 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 29\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 31: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY\n\n(In millions, except per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Total shareholders' equity, beginning balances<\/td>$<\/td>50,672 <\/td><\/td><\/td>$<\/td>63,090 <\/td><\/td><\/td>$<\/td>65,339 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>64,849 <\/td><\/td><\/td>57,365 <\/td><\/td><\/td>50,779 <\/td><\/td><\/tr>
Common stock issued<\/td>1,346 <\/td><\/td><\/td>1,175 <\/td><\/td><\/td>1,105 <\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(3,521)<\/td><\/td><\/td>(2,971)<\/td><\/td><\/td>(2,627)<\/td><\/td><\/tr>
Share-based compensation<\/td>11,138 <\/td><\/td><\/td>9,280 <\/td><\/td><\/td>8,108 <\/td><\/td><\/tr>
Ending balances<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/td>57,365 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(3,068)<\/td><\/td><\/td>5,562 <\/td><\/td><\/td>14,966 <\/td><\/td><\/tr>
Net income<\/td>96,995 <\/td><\/td><\/td>99,803 <\/td><\/td><\/td>94,680 <\/td><\/td><\/tr>
Dividends and dividend equivalents declared<\/td>(14,996)<\/td><\/td><\/td>(14,793)<\/td><\/td><\/td>(14,431)<\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(2,099)<\/td><\/td><\/td>(3,454)<\/td><\/td><\/td>(4,151)<\/td><\/td><\/tr>
Common stock repurchased<\/td>(77,046)<\/td><\/td><\/td>(90,186)<\/td><\/td><\/td>(85,502)<\/td><\/td><\/tr>
Ending balances<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/td>5,562 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income\/(loss):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(11,109)<\/td><\/td><\/td>163 <\/td><\/td><\/td>(406)<\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(343)<\/td><\/td><\/td>(11,272)<\/td><\/td><\/td>569 <\/td><\/td><\/tr>
Ending balances<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/td>163 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total shareholders' equity, ending balances<\/td>$<\/td>62,146 <\/td><\/td><\/td>$<\/td>50,672 <\/td><\/td><\/td>$<\/td>63,090 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Dividends and dividend equivalents declared per share or RSU<\/td>$<\/td>0.94 <\/td><\/td><\/td>$<\/td>0.90 <\/td><\/td><\/td>$<\/td>0.85 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 31\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 32: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Cash, cash equivalents and restricted cash, beginning balances<\/td>$<\/td>24,977 <\/td><\/td><\/td>$<\/td>35,929 <\/td><\/td><\/td>$<\/td>39,789 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>96,995 <\/td><\/td><\/td>99,803 <\/td><\/td><\/td>94,680 <\/td><\/td><\/tr>
Adjustments to reconcile net income to cash generated by operating activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>11,519 <\/td><\/td><\/td>11,104 <\/td><\/td><\/td>11,284 <\/td><\/td><\/tr>
Share-based compensation expense<\/td>10,833 <\/td><\/td><\/td>9,038 <\/td><\/td><\/td>7,906 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(2,227)<\/td><\/td><\/td>1,006 <\/td><\/td><\/td>(4,921)<\/td><\/td><\/tr>
Changes in operating assets and liabilities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts receivable, net<\/td>(1,688)<\/td><\/td><\/td>(1,823)<\/td><\/td><\/td>(10,125)<\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>1,271 <\/td><\/td><\/td>(7,520)<\/td><\/td><\/td>(3,903)<\/td><\/td><\/tr>
Inventories<\/td>(1,618)<\/td><\/td><\/td>1,484 <\/td><\/td><\/td>(2,642)<\/td><\/td><\/tr>
Other current and non-current assets<\/td>(5,684)<\/td><\/td><\/td>(6,499)<\/td><\/td><\/td>(8,042)<\/td><\/td><\/tr>
Accounts payable<\/td>(1,889)<\/td><\/td><\/td>9,448 <\/td><\/td><\/td>12,326 <\/td><\/td><\/tr>
Other current and non-current liabilities<\/td>3,031 <\/td><\/td><\/td>6,110 <\/td><\/td><\/td>7,475 <\/td><\/td><\/tr>
Cash generated by operating activities<\/td>110,543 <\/td><\/td><\/td>122,151 <\/td><\/td><\/td>104,038 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investing activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Purchases of marketable securities<\/td>(29,513)<\/td><\/td><\/td>(76,923)<\/td><\/td><\/td>(109,558)<\/td><\/td><\/tr>
Proceeds from maturities of marketable securities<\/td>39,686 <\/td><\/td><\/td>29,917 <\/td><\/td><\/td>59,023 <\/td><\/td><\/tr>
Proceeds from sales of marketable securities<\/td>5,828 <\/td><\/td><\/td>37,446 <\/td><\/td><\/td>47,460 <\/td><\/td><\/tr>
Payments for acquisition of property, plant and equipment<\/td>(10,959)<\/td><\/td><\/td>(10,708)<\/td><\/td><\/td>(11,085)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(1,337)<\/td><\/td><\/td>(2,086)<\/td><\/td><\/td>(385)<\/td><\/td><\/tr>
Cash generated by\/(used in) investing activities<\/td>3,705 <\/td><\/td><\/td>(22,354)<\/td><\/td><\/td>(14,545)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Financing activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Payments for taxes related to net share settlement of equity awards<\/td>(5,431)<\/td><\/td><\/td>(6,223)<\/td><\/td><\/td>(6,556)<\/td><\/td><\/tr>
Payments for dividends and dividend equivalents<\/td>(15,025)<\/td><\/td><\/td>(14,841)<\/td><\/td><\/td>(14,467)<\/td><\/td><\/tr>
Repurchases of common stock<\/td>(77,550)<\/td><\/td><\/td>(89,402)<\/td><\/td><\/td>(85,971)<\/td><\/td><\/tr>
Proceeds from issuance of term debt, net<\/td>5,228 <\/td><\/td><\/td>5,465 <\/td><\/td><\/td>20,393 <\/td><\/td><\/tr>
Repayments of term debt<\/td>(11,151)<\/td><\/td><\/td>(9,543)<\/td><\/td><\/td>(8,750)<\/td><\/td><\/tr>
Proceeds from\/(Repayments of) commercial paper, net<\/td>(3,978)<\/td><\/td><\/td>3,955 <\/td><\/td><\/td>1,022 <\/td><\/td><\/tr>
Other<\/td>(581)<\/td><\/td><\/td>(160)<\/td><\/td><\/td>976 <\/td><\/td><\/tr>
Cash used in financing activities<\/td>(108,488)<\/td><\/td><\/td>(110,749)<\/td><\/td><\/td>(93,353)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Increase\/(Decrease) in cash, cash equivalents and restricted cash<\/td>5,760 <\/td><\/td><\/td>(10,952)<\/td><\/td><\/td>(3,860)<\/td><\/td><\/tr>
Cash, cash equivalents and restricted cash, ending balances<\/td>$<\/td>30,737 <\/td><\/td><\/td>$<\/td>24,977 <\/td><\/td><\/td>$<\/td>35,929 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Supplemental cash flow disclosure:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash paid for income taxes, net<\/td>$<\/td>18,679 <\/td><\/td><\/td>$<\/td>19,573 <\/td><\/td><\/td>$<\/td>25,385 <\/td><\/td><\/tr>
Cash paid for interest<\/td>$<\/td>3,803 <\/td><\/td><\/td>$<\/td>2,865 <\/td><\/td><\/td>$<\/td>2,687 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 32\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n\n(In millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
Other comprehensive income\/(loss):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in foreign currency translation, net of tax<\/td>(765)<\/td><\/td><\/td>(1,511)<\/td><\/td><\/td>501 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in unrealized gains\/losses on derivative instruments, net of tax:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in fair value of derivative instruments<\/td>323 <\/td><\/td><\/td>3,212 <\/td><\/td><\/td>32 <\/td><\/td><\/tr>
Adjustment for net (gains)\/losses realized and included in net income<\/td>(1,717)<\/td><\/td><\/td>(1,074)<\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Total change in unrealized gains\/losses on derivative instruments<\/td>(1,394)<\/td><\/td><\/td>2,138 <\/td><\/td><\/td>1,035 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in unrealized gains\/losses on marketable debt securities, net of tax:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in fair value of marketable debt securities<\/td>1,563 <\/td><\/td><\/td>(12,104)<\/td><\/td><\/td>(694)<\/td><\/td><\/tr>
Adjustment for net (gains)\/losses realized and included in net income<\/td>253 <\/td><\/td><\/td>205 <\/td><\/td><\/td>(273)<\/td><\/td><\/tr>
Total change in unrealized gains\/losses on marketable debt securities<\/td>1,816 <\/td><\/td><\/td>(11,899)<\/td><\/td><\/td>(967)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total other comprehensive income\/(loss)<\/td>(343)<\/td><\/td><\/td>(11,272)<\/td><\/td><\/td>569 <\/td><\/td><\/tr>
Total comprehensive income<\/td>$<\/td>96,652 <\/td><\/td><\/td>$<\/td>88,531 <\/td><\/td><\/td>$<\/td>95,249 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 29\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY\n\n(In millions, except per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Total shareholders' equity, beginning balances<\/td>$<\/td>50,672 <\/td><\/td><\/td>$<\/td>63,090 <\/td><\/td><\/td>$<\/td>65,339 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>64,849 <\/td><\/td><\/td>57,365 <\/td><\/td><\/td>50,779 <\/td><\/td><\/tr>
Common stock issued<\/td>1,346 <\/td><\/td><\/td>1,175 <\/td><\/td><\/td>1,105 <\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(3,521)<\/td><\/td><\/td>(2,971)<\/td><\/td><\/td>(2,627)<\/td><\/td><\/tr>
Share-based compensation<\/td>11,138 <\/td><\/td><\/td>9,280 <\/td><\/td><\/td>8,108 <\/td><\/td><\/tr>
Ending balances<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/td>57,365 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(3,068)<\/td><\/td><\/td>5,562 <\/td><\/td><\/td>14,966 <\/td><\/td><\/tr>
Net income<\/td>96,995 <\/td><\/td><\/td>99,803 <\/td><\/td><\/td>94,680 <\/td><\/td><\/tr>
Dividends and dividend equivalents declared<\/td>(14,996)<\/td><\/td><\/td>(14,793)<\/td><\/td><\/td>(14,431)<\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(2,099)<\/td><\/td><\/td>(3,454)<\/td><\/td><\/td>(4,151)<\/td><\/td><\/tr>
Common stock repurchased<\/td>(77,046)<\/td><\/td><\/td>(90,186)<\/td><\/td><\/td>(85,502)<\/td><\/td><\/tr>
Ending balances<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/td>5,562 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income\/(loss):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(11,109)<\/td><\/td><\/td>163 <\/td><\/td><\/td>(406)<\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(343)<\/td><\/td><\/td>(11,272)<\/td><\/td><\/td>569 <\/td><\/td><\/tr>
Ending balances<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/td>163 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total shareholders' equity, ending balances<\/td>$<\/td>62,146 <\/td><\/td><\/td>$<\/td>50,672 <\/td><\/td><\/td>$<\/td>63,090 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Dividends and dividend equivalents declared per share or RSU<\/td>$<\/td>0.94 <\/td><\/td><\/td>$<\/td>0.90 <\/td><\/td><\/td>$<\/td>0.85 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 31\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Cash, cash equivalents and restricted cash, beginning balances<\/td>$<\/td>24,977 <\/td><\/td><\/td>$<\/td>35,929 <\/td><\/td><\/td>$<\/td>39,789 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>96,995 <\/td><\/td><\/td>99,803 <\/td><\/td><\/td>94,680 <\/td><\/td><\/tr>
Adjustments to reconcile net income to cash generated by operating activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>11,519 <\/td><\/td><\/td>11,104 <\/td><\/td><\/td>11,284 <\/td><\/td><\/tr>
Share-based compensation expense<\/td>10,833 <\/td><\/td><\/td>9,038 <\/td><\/td><\/td>7,906 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(2,227)<\/td><\/td><\/td>1,006 <\/td><\/td><\/td>(4,921)<\/td><\/td><\/tr>
Changes in operating assets and liabilities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts receivable, net<\/td>(1,688)<\/td><\/td><\/td>(1,823)<\/td><\/td><\/td>(10,125)<\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>1,271 <\/td><\/td><\/td>(7,520)<\/td><\/td><\/td>(3,903)<\/td><\/td><\/tr>
Inventories<\/td>(1,618)<\/td><\/td><\/td>1,484 <\/td><\/td><\/td>(2,642)<\/td><\/td><\/tr>
Other current and non-current assets<\/td>(5,684)<\/td><\/td><\/td>(6,499)<\/td><\/td><\/td>(8,042)<\/td><\/td><\/tr>
Accounts payable<\/td>(1,889)<\/td><\/td><\/td>9,448 <\/td><\/td><\/td>12,326 <\/td><\/td><\/tr>
Other current and non-current liabilities<\/td>3,031 <\/td><\/td><\/td>6,110 <\/td><\/td><\/td>7,475 <\/td><\/td><\/tr>
Cash generated by operating activities<\/td>110,543 <\/td><\/td><\/td>122,151 <\/td><\/td><\/td>104,038 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investing activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Purchases of marketable securities<\/td>(29,513)<\/td><\/td><\/td>(76,923)<\/td><\/td><\/td>(109,558)<\/td><\/td><\/tr>
Proceeds from maturities of marketable securities<\/td>39,686 <\/td><\/td><\/td>29,917 <\/td><\/td><\/td>59,023 <\/td><\/td><\/tr>
Proceeds from sales of marketable securities<\/td>5,828 <\/td><\/td><\/td>37,446 <\/td><\/td><\/td>47,460 <\/td><\/td><\/tr>
Payments for acquisition of property, plant and equipment<\/td>(10,959)<\/td><\/td><\/td>(10,708)<\/td><\/td><\/td>(11,085)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(1,337)<\/td><\/td><\/td>(2,086)<\/td><\/td><\/td>(385)<\/td><\/td><\/tr>
Cash generated by\/(used in) investing activities<\/td>3,705 <\/td><\/td><\/td>(22,354)<\/td><\/td><\/td>(14,545)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Financing activities:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Payments for taxes related to net share settlement of equity awards<\/td>(5,431)<\/td><\/td><\/td>(6,223)<\/td><\/td><\/td>(6,556)<\/td><\/td><\/tr>
Payments for dividends and dividend equivalents<\/td>(15,025)<\/td><\/td><\/td>(14,841)<\/td><\/td><\/td>(14,467)<\/td><\/td><\/tr>
Repurchases of common stock<\/td>(77,550)<\/td><\/td><\/td>(89,402)<\/td><\/td><\/td>(85,971)<\/td><\/td><\/tr>
Proceeds from issuance of term debt, net<\/td>5,228 <\/td><\/td><\/td>5,465 <\/td><\/td><\/td>20,393 <\/td><\/td><\/tr>
Repayments of term debt<\/td>(11,151)<\/td><\/td><\/td>(9,543)<\/td><\/td><\/td>(8,750)<\/td><\/td><\/tr>
Proceeds from\/(Repayments of) commercial paper, net<\/td>(3,978)<\/td><\/td><\/td>3,955 <\/td><\/td><\/td>1,022 <\/td><\/td><\/tr>
Other<\/td>(581)<\/td><\/td><\/td>(160)<\/td><\/td><\/td>976 <\/td><\/td><\/tr>
Cash used in financing activities<\/td>(108,488)<\/td><\/td><\/td>(110,749)<\/td><\/td><\/td>(93,353)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Increase\/(Decrease) in cash, cash equivalents and restricted cash<\/td>5,760 <\/td><\/td><\/td>(10,952)<\/td><\/td><\/td>(3,860)<\/td><\/td><\/tr>
Cash, cash equivalents and restricted cash, ending balances<\/td>$<\/td>30,737 <\/td><\/td><\/td>$<\/td>24,977 <\/td><\/td><\/td>$<\/td>35,929 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Supplemental cash flow disclosure:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash paid for income taxes, net<\/td>$<\/td>18,679 <\/td><\/td><\/td>$<\/td>19,573 <\/td><\/td><\/td>$<\/td>25,385 <\/td><\/td><\/tr>
Cash paid for interest<\/td>$<\/td>3,803 <\/td><\/td><\/td>$<\/td>2,865 <\/td><\/td><\/td>$<\/td>2,687 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 32\n\n\n\n\n\n"} +{"QID":"q_Ra005","Question":"What were the key outcomes of the solvency analysis for JPMorgan Chase as of March 31, 2024?","ground_truth_answer":"The key findings from the solvency analysis of JPMorgan Chase as of March 31, 2024, include:\n- Debt Equity Ratio: 11.15\n- Interest Coverage Ratio: 0.71\n- Financial Leverage Ratio: 12.15\n- Long-term Debt to Capitalization Ratio: 0.54\nThese ratios suggest that JPMorgan Chase has a high level of debt relative to equity, a low interest coverage ratio, and significant financial leverage, indicating potential solvency risks.","question_type":"Ratio","page_number":"83, 85","accession_number":"0000019617-24-000326","item":"Item 1.\tFinancial Statements.","context_markdown_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_markdown_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n"} +{"QID":"q_Ra006","Question":"What percentage of Nike's total revenue in 2018 was contributed by each region, and how does this reflect the company's global revenue distribution?","ground_truth_answer":"To calculate the percentage of revenue contributed by each region to Nike's total revenue in 2018:\n\nFormula:\nPercentage of Revenue = (Revenue from Region \/ Total Revenue) \u00d7 100\n\nData:\n\nNorth America Revenue = $14,855 million\nEMEA Revenue = $9,242 million\nGreater China Revenue = $5,134 million\nAPLA Revenue = $5,166 million\nGlobal Brand Divisions Revenue = $88 million\nTotal Revenue = $14,855 + $9,242 + $5,134 + $5,166 + $88 = $34,485 million\nCalculations:\n\nNorth America: (14,855 \/ 34,485) \u00d7 100 \u2248 43.08%\nEMEA: (9,242 \/ 34,485) \u00d7 100 \u2248 26.80%\nGreater China: (5,134 \/ 34,485) \u00d7 100 \u2248 14.89%\nAPLA: (5,166 \/ 34,485) \u00d7 100 \u2248 14.98%\nGlobal Brand Divisions: (88 \/ 34,485) \u00d7 100 \u2248 0.26%","question_type":"Ratio","page_number":71,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 71: \n| | | | | | | | | | | | |\n|---:|:----------------------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | REVENUES | | | | | | | | | | |\n| 5 | North America | $ | 14,855 | | | $ | 15,216 | | | $ | 14,764 |\n| 6 | Europe, Middle East & Africa | 9,242 | | | 7,970 | | | 7,568 | | | |\n| 7 | Greater China | 5,134 | | | 4,237 | | | 3,785 | | | |\n| 8 | Asia Pacific & Latin America | 5,166 | | | 4,737 | | | 4,317 | | | |\n| 9 | Global Brand Divisions | 88 | | | 73 | | | 73 | | | |\n| 10 | Total NIKE Brand | 34,485 | | | 32,233 | | | 30,507 | | | |\n| 11 | Converse | 1,886 | | | 2,042 | | | 1,955 | | | |\n| 12 | Corporate | 26 | | | 75 | | | (86 | ) | | |\n| 13 | TOTAL NIKE, INC. REVENUES | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 14 | EARNINGS BEFORE INTEREST AND TAXES | | | | | | | | | | |\n| 15 | North America | $ | 3,600 | | | $ | 3,875 | | | $ | 3,763 |\n| 16 | Europe, Middle East & Africa | 1,587 | | | 1,507 | | | 1,787 | | | |\n| 17 | Greater China | 1,807 | | | 1,507 | | | 1,372 | | | |\n| 18 | Asia Pacific & Latin America | 1,189 | | | 980 | | | 1,002 | | | |\n| 19 | Global Brand Divisions | (2,658 | ) | | (2,677 | ) | | (2,596 | ) | | |\n| 20 | Total NIKE Brand | 5,525 | | | 5,192 | | | 5,328 | | | |\n| 21 | Converse | 310 | | | 477 | | | 487 | | | |\n| 22 | Corporate | (1,456 | ) | | (724 | ) | | (1,173 | ) | | |\n| 23 | Total NIKE, Inc. Earnings Before Interest and Taxes | 4,379 | | | 4,945 | | | 4,642 | | | |\n| 24 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 25 | TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 4,325 | | | $ | 4,886 | | | $ | 4,623 |\n| 26 | ADDITIONS TO LONG-LIVED ASSETS | | | | | | | | | | |\n| 27 | North America | $ | 196 | | | $ | 223 | | | $ | 242 |\n| 28 | Europe, Middle East & Africa | 240 | | | 173 | | | 234 | | | |\n| 29 | Greater China | 76 | | | 51 | | | 44 | | | |\n| 30 | Asia Pacific & Latin America | 49 | | | 59 | | | 62 | | | |\n| 31 | Global Brand Divisions | 286 | | | 278 | | | 258 | | | |\n| 32 | Total NIKE Brand | 847 | | | 784 | | | 840 | | | |\n| 33 | Converse | 22 | | | 30 | | | 39 | | | |\n| 34 | Corporate | 325 | | | 387 | | | 312 | | | |\n| 35 | TOTAL ADDITIONS TO LONG-LIVED ASSETS | $ | 1,194 | | | $ | 1,201 | | | $ | 1,191 |\n| 36 | DEPRECIATION | | | | | | | | | | |\n| 37 | North America | $ | 160 | | | $ | 140 | | | $ | 133 |\n| 38 | Europe, Middle East & Africa | 116 | | | 106 | | | 85 | | | |\n| 39 | Greater China | 56 | | | 54 | | | 48 | | | |\n| 40 | Asia Pacific & Latin America | 55 | | | 54 | | | 42 | | | |\n| 41 | Global Brand Divisions | 217 | | | 233 | | | 230 | | | |\n| 42 | Total NIKE Brand | 604 | | | 587 | | | 538 | | | |\n| 43 | Converse | 33 | | | 28 | | | 27 | | | |\n| 44 | Corporate | 110 | | | 91 | | | 84 | | | |\n| 45 | TOTAL DEPRECIATION | $ | 747 | | | $ | 706 | | | $ | 649 |\n\n\n71\n\n\n\n","context_markdown_without_headers":"\n| | | | | | | | | | | | |\n|---:|:----------------------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | REVENUES | | | | | | | | | | |\n| 5 | North America | $ | 14,855 | | | $ | 15,216 | | | $ | 14,764 |\n| 6 | Europe, Middle East & Africa | 9,242 | | | 7,970 | | | 7,568 | | | |\n| 7 | Greater China | 5,134 | | | 4,237 | | | 3,785 | | | |\n| 8 | Asia Pacific & Latin America | 5,166 | | | 4,737 | | | 4,317 | | | |\n| 9 | Global Brand Divisions | 88 | | | 73 | | | 73 | | | |\n| 10 | Total NIKE Brand | 34,485 | | | 32,233 | | | 30,507 | | | |\n| 11 | Converse | 1,886 | | | 2,042 | | | 1,955 | | | |\n| 12 | Corporate | 26 | | | 75 | | | (86 | ) | | |\n| 13 | TOTAL NIKE, INC. REVENUES | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 14 | EARNINGS BEFORE INTEREST AND TAXES | | | | | | | | | | |\n| 15 | North America | $ | 3,600 | | | $ | 3,875 | | | $ | 3,763 |\n| 16 | Europe, Middle East & Africa | 1,587 | | | 1,507 | | | 1,787 | | | |\n| 17 | Greater China | 1,807 | | | 1,507 | | | 1,372 | | | |\n| 18 | Asia Pacific & Latin America | 1,189 | | | 980 | | | 1,002 | | | |\n| 19 | Global Brand Divisions | (2,658 | ) | | (2,677 | ) | | (2,596 | ) | | |\n| 20 | Total NIKE Brand | 5,525 | | | 5,192 | | | 5,328 | | | |\n| 21 | Converse | 310 | | | 477 | | | 487 | | | |\n| 22 | Corporate | (1,456 | ) | | (724 | ) | | (1,173 | ) | | |\n| 23 | Total NIKE, Inc. Earnings Before Interest and Taxes | 4,379 | | | 4,945 | | | 4,642 | | | |\n| 24 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 25 | TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 4,325 | | | $ | 4,886 | | | $ | 4,623 |\n| 26 | ADDITIONS TO LONG-LIVED ASSETS | | | | | | | | | | |\n| 27 | North America | $ | 196 | | | $ | 223 | | | $ | 242 |\n| 28 | Europe, Middle East & Africa | 240 | | | 173 | | | 234 | | | |\n| 29 | Greater China | 76 | | | 51 | | | 44 | | | |\n| 30 | Asia Pacific & Latin America | 49 | | | 59 | | | 62 | | | |\n| 31 | Global Brand Divisions | 286 | | | 278 | | | 258 | | | |\n| 32 | Total NIKE Brand | 847 | | | 784 | | | 840 | | | |\n| 33 | Converse | 22 | | | 30 | | | 39 | | | |\n| 34 | Corporate | 325 | | | 387 | | | 312 | | | |\n| 35 | TOTAL ADDITIONS TO LONG-LIVED ASSETS | $ | 1,194 | | | $ | 1,201 | | | $ | 1,191 |\n| 36 | DEPRECIATION | | | | | | | | | | |\n| 37 | North America | $ | 160 | | | $ | 140 | | | $ | 133 |\n| 38 | Europe, Middle East & Africa | 116 | | | 106 | | | 85 | | | |\n| 39 | Greater China | 56 | | | 54 | | | 48 | | | |\n| 40 | Asia Pacific & Latin America | 55 | | | 54 | | | 42 | | | |\n| 41 | Global Brand Divisions | 217 | | | 233 | | | 230 | | | |\n| 42 | Total NIKE Brand | 604 | | | 587 | | | 538 | | | |\n| 43 | Converse | 33 | | | 28 | | | 27 | | | |\n| 44 | Corporate | 110 | | | 91 | | | 84 | | | |\n| 45 | TOTAL DEPRECIATION | $ | 747 | | | $ | 706 | | | $ | 649 |\n\n\n71\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 71: \n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
REVENUES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>14,855<\/td><\/td> <\/td>$<\/td>15,216<\/td><\/td> <\/td>$<\/td>14,764<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>9,242<\/td><\/td> <\/td>7,970<\/td><\/td> <\/td>7,568<\/td><\/td><\/tr>
Greater China<\/td> <\/td>5,134<\/td><\/td> <\/td>4,237<\/td><\/td> <\/td>3,785<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>5,166<\/td><\/td> <\/td>4,737<\/td><\/td> <\/td>4,317<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>88<\/td><\/td> <\/td>73<\/td><\/td> <\/td>73<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>34,485<\/td><\/td> <\/td>32,233<\/td><\/td> <\/td>30,507<\/td><\/td><\/tr>
Converse<\/td> <\/td>1,886<\/td><\/td> <\/td>2,042<\/td><\/td> <\/td>1,955<\/td><\/td><\/tr>
Corporate<\/td> <\/td>26<\/td><\/td> <\/td>75<\/td><\/td> <\/td>(86<\/td>)<\/td><\/tr>
TOTAL NIKE, INC. REVENUES<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
EARNINGS BEFORE INTEREST AND TAXES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>3,600<\/td><\/td> <\/td>$<\/td>3,875<\/td><\/td> <\/td>$<\/td>3,763<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>1,587<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,787<\/td><\/td><\/tr>
Greater China<\/td> <\/td>1,807<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,372<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>1,189<\/td><\/td> <\/td>980<\/td><\/td> <\/td>1,002<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>(2,658<\/td>)<\/td> <\/td>(2,677<\/td>)<\/td> <\/td>(2,596<\/td>)<\/td><\/tr>
Total NIKE Brand<\/td> <\/td>5,525<\/td><\/td> <\/td>5,192<\/td><\/td> <\/td>5,328<\/td><\/td><\/tr>
Converse<\/td> <\/td>310<\/td><\/td> <\/td>477<\/td><\/td> <\/td>487<\/td><\/td><\/tr>
Corporate<\/td> <\/td>(1,456<\/td>)<\/td> <\/td>(724<\/td>)<\/td> <\/td>(1,173<\/td>)<\/td><\/tr>
Total NIKE, Inc. Earnings Before Interest and Taxes<\/td> <\/td>4,379<\/td><\/td> <\/td>4,945<\/td><\/td> <\/td>4,642<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES<\/td> <\/td>$<\/td>4,325<\/td><\/td> <\/td>$<\/td>4,886<\/td><\/td> <\/td>$<\/td>4,623<\/td><\/td><\/tr>
ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>196<\/td><\/td> <\/td>$<\/td>223<\/td><\/td> <\/td>$<\/td>242<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>240<\/td><\/td> <\/td>173<\/td><\/td> <\/td>234<\/td><\/td><\/tr>
Greater China<\/td> <\/td>76<\/td><\/td> <\/td>51<\/td><\/td> <\/td>44<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>49<\/td><\/td> <\/td>59<\/td><\/td> <\/td>62<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>286<\/td><\/td> <\/td>278<\/td><\/td> <\/td>258<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>847<\/td><\/td> <\/td>784<\/td><\/td> <\/td>840<\/td><\/td><\/tr>
Converse<\/td> <\/td>22<\/td><\/td> <\/td>30<\/td><\/td> <\/td>39<\/td><\/td><\/tr>
Corporate<\/td> <\/td>325<\/td><\/td> <\/td>387<\/td><\/td> <\/td>312<\/td><\/td><\/tr>
TOTAL ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td>$<\/td>1,194<\/td><\/td> <\/td>$<\/td>1,201<\/td><\/td> <\/td>$<\/td>1,191<\/td><\/td><\/tr>
DEPRECIATION<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>160<\/td><\/td> <\/td>$<\/td>140<\/td><\/td> <\/td>$<\/td>133<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>116<\/td><\/td> <\/td>106<\/td><\/td> <\/td>85<\/td><\/td><\/tr>
Greater China<\/td> <\/td>56<\/td><\/td> <\/td>54<\/td><\/td> <\/td>48<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>55<\/td><\/td> <\/td>54<\/td><\/td> <\/td>42<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>217<\/td><\/td> <\/td>233<\/td><\/td> <\/td>230<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>604<\/td><\/td> <\/td>587<\/td><\/td> <\/td>538<\/td><\/td><\/tr>
Converse<\/td> <\/td>33<\/td><\/td> <\/td>28<\/td><\/td> <\/td>27<\/td><\/td><\/tr>
Corporate<\/td> <\/td>110<\/td><\/td> <\/td>91<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
TOTAL DEPRECIATION<\/td> <\/td>$<\/td>747<\/td><\/td> <\/td>$<\/td>706<\/td><\/td> <\/td>$<\/td>649<\/td><\/td><\/tr><\/table>\n\n71\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
REVENUES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>14,855<\/td><\/td> <\/td>$<\/td>15,216<\/td><\/td> <\/td>$<\/td>14,764<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>9,242<\/td><\/td> <\/td>7,970<\/td><\/td> <\/td>7,568<\/td><\/td><\/tr>
Greater China<\/td> <\/td>5,134<\/td><\/td> <\/td>4,237<\/td><\/td> <\/td>3,785<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>5,166<\/td><\/td> <\/td>4,737<\/td><\/td> <\/td>4,317<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>88<\/td><\/td> <\/td>73<\/td><\/td> <\/td>73<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>34,485<\/td><\/td> <\/td>32,233<\/td><\/td> <\/td>30,507<\/td><\/td><\/tr>
Converse<\/td> <\/td>1,886<\/td><\/td> <\/td>2,042<\/td><\/td> <\/td>1,955<\/td><\/td><\/tr>
Corporate<\/td> <\/td>26<\/td><\/td> <\/td>75<\/td><\/td> <\/td>(86<\/td>)<\/td><\/tr>
TOTAL NIKE, INC. REVENUES<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
EARNINGS BEFORE INTEREST AND TAXES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>3,600<\/td><\/td> <\/td>$<\/td>3,875<\/td><\/td> <\/td>$<\/td>3,763<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>1,587<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,787<\/td><\/td><\/tr>
Greater China<\/td> <\/td>1,807<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,372<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>1,189<\/td><\/td> <\/td>980<\/td><\/td> <\/td>1,002<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>(2,658<\/td>)<\/td> <\/td>(2,677<\/td>)<\/td> <\/td>(2,596<\/td>)<\/td><\/tr>
Total NIKE Brand<\/td> <\/td>5,525<\/td><\/td> <\/td>5,192<\/td><\/td> <\/td>5,328<\/td><\/td><\/tr>
Converse<\/td> <\/td>310<\/td><\/td> <\/td>477<\/td><\/td> <\/td>487<\/td><\/td><\/tr>
Corporate<\/td> <\/td>(1,456<\/td>)<\/td> <\/td>(724<\/td>)<\/td> <\/td>(1,173<\/td>)<\/td><\/tr>
Total NIKE, Inc. Earnings Before Interest and Taxes<\/td> <\/td>4,379<\/td><\/td> <\/td>4,945<\/td><\/td> <\/td>4,642<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES<\/td> <\/td>$<\/td>4,325<\/td><\/td> <\/td>$<\/td>4,886<\/td><\/td> <\/td>$<\/td>4,623<\/td><\/td><\/tr>
ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>196<\/td><\/td> <\/td>$<\/td>223<\/td><\/td> <\/td>$<\/td>242<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>240<\/td><\/td> <\/td>173<\/td><\/td> <\/td>234<\/td><\/td><\/tr>
Greater China<\/td> <\/td>76<\/td><\/td> <\/td>51<\/td><\/td> <\/td>44<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>49<\/td><\/td> <\/td>59<\/td><\/td> <\/td>62<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>286<\/td><\/td> <\/td>278<\/td><\/td> <\/td>258<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>847<\/td><\/td> <\/td>784<\/td><\/td> <\/td>840<\/td><\/td><\/tr>
Converse<\/td> <\/td>22<\/td><\/td> <\/td>30<\/td><\/td> <\/td>39<\/td><\/td><\/tr>
Corporate<\/td> <\/td>325<\/td><\/td> <\/td>387<\/td><\/td> <\/td>312<\/td><\/td><\/tr>
TOTAL ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td>$<\/td>1,194<\/td><\/td> <\/td>$<\/td>1,201<\/td><\/td> <\/td>$<\/td>1,191<\/td><\/td><\/tr>
DEPRECIATION<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>160<\/td><\/td> <\/td>$<\/td>140<\/td><\/td> <\/td>$<\/td>133<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>116<\/td><\/td> <\/td>106<\/td><\/td> <\/td>85<\/td><\/td><\/tr>
Greater China<\/td> <\/td>56<\/td><\/td> <\/td>54<\/td><\/td> <\/td>48<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>55<\/td><\/td> <\/td>54<\/td><\/td> <\/td>42<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>217<\/td><\/td> <\/td>233<\/td><\/td> <\/td>230<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>604<\/td><\/td> <\/td>587<\/td><\/td> <\/td>538<\/td><\/td><\/tr>
Converse<\/td> <\/td>33<\/td><\/td> <\/td>28<\/td><\/td> <\/td>27<\/td><\/td><\/tr>
Corporate<\/td> <\/td>110<\/td><\/td> <\/td>91<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
TOTAL DEPRECIATION<\/td> <\/td>$<\/td>747<\/td><\/td> <\/td>$<\/td>706<\/td><\/td> <\/td>$<\/td>649<\/td><\/td><\/tr><\/table>\n\n71\n\n\n\n"} +{"QID":"q_Ra007","Question":"How does Nike's EBIT compare year-on-year?","ground_truth_answer":"EBIT 2018: $4,379 million\nEBIT 2017: $4,945 million\nFormula:\nPercentage Change in EBIT = ((EBIT 2018 - EBIT 2017) \/ EBIT 2017) \u00d7 100\n\nCalculation:\nPercentage Change = ((4,379 - 4,945) \/ 4,945) \u00d7 100\nPercentage Change = (-566 \/ 4,945) \u00d7 100 \u2248 -11.45%\n\nNike's EBIT decreased by approximately 11.45% from fiscal 2017 to 2018. The decline was driven by increased selling and administrative expenses and gross margin pressures, despite higher revenues.","question_type":"Ratio","page_number":71,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 71: \n| | | | | | | | | | | | |\n|---:|:----------------------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | REVENUES | | | | | | | | | | |\n| 5 | North America | $ | 14,855 | | | $ | 15,216 | | | $ | 14,764 |\n| 6 | Europe, Middle East & Africa | 9,242 | | | 7,970 | | | 7,568 | | | |\n| 7 | Greater China | 5,134 | | | 4,237 | | | 3,785 | | | |\n| 8 | Asia Pacific & Latin America | 5,166 | | | 4,737 | | | 4,317 | | | |\n| 9 | Global Brand Divisions | 88 | | | 73 | | | 73 | | | |\n| 10 | Total NIKE Brand | 34,485 | | | 32,233 | | | 30,507 | | | |\n| 11 | Converse | 1,886 | | | 2,042 | | | 1,955 | | | |\n| 12 | Corporate | 26 | | | 75 | | | (86 | ) | | |\n| 13 | TOTAL NIKE, INC. REVENUES | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 14 | EARNINGS BEFORE INTEREST AND TAXES | | | | | | | | | | |\n| 15 | North America | $ | 3,600 | | | $ | 3,875 | | | $ | 3,763 |\n| 16 | Europe, Middle East & Africa | 1,587 | | | 1,507 | | | 1,787 | | | |\n| 17 | Greater China | 1,807 | | | 1,507 | | | 1,372 | | | |\n| 18 | Asia Pacific & Latin America | 1,189 | | | 980 | | | 1,002 | | | |\n| 19 | Global Brand Divisions | (2,658 | ) | | (2,677 | ) | | (2,596 | ) | | |\n| 20 | Total NIKE Brand | 5,525 | | | 5,192 | | | 5,328 | | | |\n| 21 | Converse | 310 | | | 477 | | | 487 | | | |\n| 22 | Corporate | (1,456 | ) | | (724 | ) | | (1,173 | ) | | |\n| 23 | Total NIKE, Inc. Earnings Before Interest and Taxes | 4,379 | | | 4,945 | | | 4,642 | | | |\n| 24 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 25 | TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 4,325 | | | $ | 4,886 | | | $ | 4,623 |\n| 26 | ADDITIONS TO LONG-LIVED ASSETS | | | | | | | | | | |\n| 27 | North America | $ | 196 | | | $ | 223 | | | $ | 242 |\n| 28 | Europe, Middle East & Africa | 240 | | | 173 | | | 234 | | | |\n| 29 | Greater China | 76 | | | 51 | | | 44 | | | |\n| 30 | Asia Pacific & Latin America | 49 | | | 59 | | | 62 | | | |\n| 31 | Global Brand Divisions | 286 | | | 278 | | | 258 | | | |\n| 32 | Total NIKE Brand | 847 | | | 784 | | | 840 | | | |\n| 33 | Converse | 22 | | | 30 | | | 39 | | | |\n| 34 | Corporate | 325 | | | 387 | | | 312 | | | |\n| 35 | TOTAL ADDITIONS TO LONG-LIVED ASSETS | $ | 1,194 | | | $ | 1,201 | | | $ | 1,191 |\n| 36 | DEPRECIATION | | | | | | | | | | |\n| 37 | North America | $ | 160 | | | $ | 140 | | | $ | 133 |\n| 38 | Europe, Middle East & Africa | 116 | | | 106 | | | 85 | | | |\n| 39 | Greater China | 56 | | | 54 | | | 48 | | | |\n| 40 | Asia Pacific & Latin America | 55 | | | 54 | | | 42 | | | |\n| 41 | Global Brand Divisions | 217 | | | 233 | | | 230 | | | |\n| 42 | Total NIKE Brand | 604 | | | 587 | | | 538 | | | |\n| 43 | Converse | 33 | | | 28 | | | 27 | | | |\n| 44 | Corporate | 110 | | | 91 | | | 84 | | | |\n| 45 | TOTAL DEPRECIATION | $ | 747 | | | $ | 706 | | | $ | 649 |\n\n\n71\n\n\n\n","context_markdown_without_headers":"\n| | | | | | | | | | | | |\n|---:|:----------------------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | REVENUES | | | | | | | | | | |\n| 5 | North America | $ | 14,855 | | | $ | 15,216 | | | $ | 14,764 |\n| 6 | Europe, Middle East & Africa | 9,242 | | | 7,970 | | | 7,568 | | | |\n| 7 | Greater China | 5,134 | | | 4,237 | | | 3,785 | | | |\n| 8 | Asia Pacific & Latin America | 5,166 | | | 4,737 | | | 4,317 | | | |\n| 9 | Global Brand Divisions | 88 | | | 73 | | | 73 | | | |\n| 10 | Total NIKE Brand | 34,485 | | | 32,233 | | | 30,507 | | | |\n| 11 | Converse | 1,886 | | | 2,042 | | | 1,955 | | | |\n| 12 | Corporate | 26 | | | 75 | | | (86 | ) | | |\n| 13 | TOTAL NIKE, INC. REVENUES | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 14 | EARNINGS BEFORE INTEREST AND TAXES | | | | | | | | | | |\n| 15 | North America | $ | 3,600 | | | $ | 3,875 | | | $ | 3,763 |\n| 16 | Europe, Middle East & Africa | 1,587 | | | 1,507 | | | 1,787 | | | |\n| 17 | Greater China | 1,807 | | | 1,507 | | | 1,372 | | | |\n| 18 | Asia Pacific & Latin America | 1,189 | | | 980 | | | 1,002 | | | |\n| 19 | Global Brand Divisions | (2,658 | ) | | (2,677 | ) | | (2,596 | ) | | |\n| 20 | Total NIKE Brand | 5,525 | | | 5,192 | | | 5,328 | | | |\n| 21 | Converse | 310 | | | 477 | | | 487 | | | |\n| 22 | Corporate | (1,456 | ) | | (724 | ) | | (1,173 | ) | | |\n| 23 | Total NIKE, Inc. Earnings Before Interest and Taxes | 4,379 | | | 4,945 | | | 4,642 | | | |\n| 24 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 25 | TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 4,325 | | | $ | 4,886 | | | $ | 4,623 |\n| 26 | ADDITIONS TO LONG-LIVED ASSETS | | | | | | | | | | |\n| 27 | North America | $ | 196 | | | $ | 223 | | | $ | 242 |\n| 28 | Europe, Middle East & Africa | 240 | | | 173 | | | 234 | | | |\n| 29 | Greater China | 76 | | | 51 | | | 44 | | | |\n| 30 | Asia Pacific & Latin America | 49 | | | 59 | | | 62 | | | |\n| 31 | Global Brand Divisions | 286 | | | 278 | | | 258 | | | |\n| 32 | Total NIKE Brand | 847 | | | 784 | | | 840 | | | |\n| 33 | Converse | 22 | | | 30 | | | 39 | | | |\n| 34 | Corporate | 325 | | | 387 | | | 312 | | | |\n| 35 | TOTAL ADDITIONS TO LONG-LIVED ASSETS | $ | 1,194 | | | $ | 1,201 | | | $ | 1,191 |\n| 36 | DEPRECIATION | | | | | | | | | | |\n| 37 | North America | $ | 160 | | | $ | 140 | | | $ | 133 |\n| 38 | Europe, Middle East & Africa | 116 | | | 106 | | | 85 | | | |\n| 39 | Greater China | 56 | | | 54 | | | 48 | | | |\n| 40 | Asia Pacific & Latin America | 55 | | | 54 | | | 42 | | | |\n| 41 | Global Brand Divisions | 217 | | | 233 | | | 230 | | | |\n| 42 | Total NIKE Brand | 604 | | | 587 | | | 538 | | | |\n| 43 | Converse | 33 | | | 28 | | | 27 | | | |\n| 44 | Corporate | 110 | | | 91 | | | 84 | | | |\n| 45 | TOTAL DEPRECIATION | $ | 747 | | | $ | 706 | | | $ | 649 |\n\n\n71\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 71: \n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
REVENUES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>14,855<\/td><\/td> <\/td>$<\/td>15,216<\/td><\/td> <\/td>$<\/td>14,764<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>9,242<\/td><\/td> <\/td>7,970<\/td><\/td> <\/td>7,568<\/td><\/td><\/tr>
Greater China<\/td> <\/td>5,134<\/td><\/td> <\/td>4,237<\/td><\/td> <\/td>3,785<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>5,166<\/td><\/td> <\/td>4,737<\/td><\/td> <\/td>4,317<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>88<\/td><\/td> <\/td>73<\/td><\/td> <\/td>73<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>34,485<\/td><\/td> <\/td>32,233<\/td><\/td> <\/td>30,507<\/td><\/td><\/tr>
Converse<\/td> <\/td>1,886<\/td><\/td> <\/td>2,042<\/td><\/td> <\/td>1,955<\/td><\/td><\/tr>
Corporate<\/td> <\/td>26<\/td><\/td> <\/td>75<\/td><\/td> <\/td>(86<\/td>)<\/td><\/tr>
TOTAL NIKE, INC. REVENUES<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
EARNINGS BEFORE INTEREST AND TAXES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>3,600<\/td><\/td> <\/td>$<\/td>3,875<\/td><\/td> <\/td>$<\/td>3,763<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>1,587<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,787<\/td><\/td><\/tr>
Greater China<\/td> <\/td>1,807<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,372<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>1,189<\/td><\/td> <\/td>980<\/td><\/td> <\/td>1,002<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>(2,658<\/td>)<\/td> <\/td>(2,677<\/td>)<\/td> <\/td>(2,596<\/td>)<\/td><\/tr>
Total NIKE Brand<\/td> <\/td>5,525<\/td><\/td> <\/td>5,192<\/td><\/td> <\/td>5,328<\/td><\/td><\/tr>
Converse<\/td> <\/td>310<\/td><\/td> <\/td>477<\/td><\/td> <\/td>487<\/td><\/td><\/tr>
Corporate<\/td> <\/td>(1,456<\/td>)<\/td> <\/td>(724<\/td>)<\/td> <\/td>(1,173<\/td>)<\/td><\/tr>
Total NIKE, Inc. Earnings Before Interest and Taxes<\/td> <\/td>4,379<\/td><\/td> <\/td>4,945<\/td><\/td> <\/td>4,642<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES<\/td> <\/td>$<\/td>4,325<\/td><\/td> <\/td>$<\/td>4,886<\/td><\/td> <\/td>$<\/td>4,623<\/td><\/td><\/tr>
ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>196<\/td><\/td> <\/td>$<\/td>223<\/td><\/td> <\/td>$<\/td>242<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>240<\/td><\/td> <\/td>173<\/td><\/td> <\/td>234<\/td><\/td><\/tr>
Greater China<\/td> <\/td>76<\/td><\/td> <\/td>51<\/td><\/td> <\/td>44<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>49<\/td><\/td> <\/td>59<\/td><\/td> <\/td>62<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>286<\/td><\/td> <\/td>278<\/td><\/td> <\/td>258<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>847<\/td><\/td> <\/td>784<\/td><\/td> <\/td>840<\/td><\/td><\/tr>
Converse<\/td> <\/td>22<\/td><\/td> <\/td>30<\/td><\/td> <\/td>39<\/td><\/td><\/tr>
Corporate<\/td> <\/td>325<\/td><\/td> <\/td>387<\/td><\/td> <\/td>312<\/td><\/td><\/tr>
TOTAL ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td>$<\/td>1,194<\/td><\/td> <\/td>$<\/td>1,201<\/td><\/td> <\/td>$<\/td>1,191<\/td><\/td><\/tr>
DEPRECIATION<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>160<\/td><\/td> <\/td>$<\/td>140<\/td><\/td> <\/td>$<\/td>133<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>116<\/td><\/td> <\/td>106<\/td><\/td> <\/td>85<\/td><\/td><\/tr>
Greater China<\/td> <\/td>56<\/td><\/td> <\/td>54<\/td><\/td> <\/td>48<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>55<\/td><\/td> <\/td>54<\/td><\/td> <\/td>42<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>217<\/td><\/td> <\/td>233<\/td><\/td> <\/td>230<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>604<\/td><\/td> <\/td>587<\/td><\/td> <\/td>538<\/td><\/td><\/tr>
Converse<\/td> <\/td>33<\/td><\/td> <\/td>28<\/td><\/td> <\/td>27<\/td><\/td><\/tr>
Corporate<\/td> <\/td>110<\/td><\/td> <\/td>91<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
TOTAL DEPRECIATION<\/td> <\/td>$<\/td>747<\/td><\/td> <\/td>$<\/td>706<\/td><\/td> <\/td>$<\/td>649<\/td><\/td><\/tr><\/table>\n\n71\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
REVENUES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>14,855<\/td><\/td> <\/td>$<\/td>15,216<\/td><\/td> <\/td>$<\/td>14,764<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>9,242<\/td><\/td> <\/td>7,970<\/td><\/td> <\/td>7,568<\/td><\/td><\/tr>
Greater China<\/td> <\/td>5,134<\/td><\/td> <\/td>4,237<\/td><\/td> <\/td>3,785<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>5,166<\/td><\/td> <\/td>4,737<\/td><\/td> <\/td>4,317<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>88<\/td><\/td> <\/td>73<\/td><\/td> <\/td>73<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>34,485<\/td><\/td> <\/td>32,233<\/td><\/td> <\/td>30,507<\/td><\/td><\/tr>
Converse<\/td> <\/td>1,886<\/td><\/td> <\/td>2,042<\/td><\/td> <\/td>1,955<\/td><\/td><\/tr>
Corporate<\/td> <\/td>26<\/td><\/td> <\/td>75<\/td><\/td> <\/td>(86<\/td>)<\/td><\/tr>
TOTAL NIKE, INC. REVENUES<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
EARNINGS BEFORE INTEREST AND TAXES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>3,600<\/td><\/td> <\/td>$<\/td>3,875<\/td><\/td> <\/td>$<\/td>3,763<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>1,587<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,787<\/td><\/td><\/tr>
Greater China<\/td> <\/td>1,807<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,372<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>1,189<\/td><\/td> <\/td>980<\/td><\/td> <\/td>1,002<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>(2,658<\/td>)<\/td> <\/td>(2,677<\/td>)<\/td> <\/td>(2,596<\/td>)<\/td><\/tr>
Total NIKE Brand<\/td> <\/td>5,525<\/td><\/td> <\/td>5,192<\/td><\/td> <\/td>5,328<\/td><\/td><\/tr>
Converse<\/td> <\/td>310<\/td><\/td> <\/td>477<\/td><\/td> <\/td>487<\/td><\/td><\/tr>
Corporate<\/td> <\/td>(1,456<\/td>)<\/td> <\/td>(724<\/td>)<\/td> <\/td>(1,173<\/td>)<\/td><\/tr>
Total NIKE, Inc. Earnings Before Interest and Taxes<\/td> <\/td>4,379<\/td><\/td> <\/td>4,945<\/td><\/td> <\/td>4,642<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES<\/td> <\/td>$<\/td>4,325<\/td><\/td> <\/td>$<\/td>4,886<\/td><\/td> <\/td>$<\/td>4,623<\/td><\/td><\/tr>
ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>196<\/td><\/td> <\/td>$<\/td>223<\/td><\/td> <\/td>$<\/td>242<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>240<\/td><\/td> <\/td>173<\/td><\/td> <\/td>234<\/td><\/td><\/tr>
Greater China<\/td> <\/td>76<\/td><\/td> <\/td>51<\/td><\/td> <\/td>44<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>49<\/td><\/td> <\/td>59<\/td><\/td> <\/td>62<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>286<\/td><\/td> <\/td>278<\/td><\/td> <\/td>258<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>847<\/td><\/td> <\/td>784<\/td><\/td> <\/td>840<\/td><\/td><\/tr>
Converse<\/td> <\/td>22<\/td><\/td> <\/td>30<\/td><\/td> <\/td>39<\/td><\/td><\/tr>
Corporate<\/td> <\/td>325<\/td><\/td> <\/td>387<\/td><\/td> <\/td>312<\/td><\/td><\/tr>
TOTAL ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td>$<\/td>1,194<\/td><\/td> <\/td>$<\/td>1,201<\/td><\/td> <\/td>$<\/td>1,191<\/td><\/td><\/tr>
DEPRECIATION<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>160<\/td><\/td> <\/td>$<\/td>140<\/td><\/td> <\/td>$<\/td>133<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>116<\/td><\/td> <\/td>106<\/td><\/td> <\/td>85<\/td><\/td><\/tr>
Greater China<\/td> <\/td>56<\/td><\/td> <\/td>54<\/td><\/td> <\/td>48<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>55<\/td><\/td> <\/td>54<\/td><\/td> <\/td>42<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>217<\/td><\/td> <\/td>233<\/td><\/td> <\/td>230<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>604<\/td><\/td> <\/td>587<\/td><\/td> <\/td>538<\/td><\/td><\/tr>
Converse<\/td> <\/td>33<\/td><\/td> <\/td>28<\/td><\/td> <\/td>27<\/td><\/td><\/tr>
Corporate<\/td> <\/td>110<\/td><\/td> <\/td>91<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
TOTAL DEPRECIATION<\/td> <\/td>$<\/td>747<\/td><\/td> <\/td>$<\/td>706<\/td><\/td> <\/td>$<\/td>649<\/td><\/td><\/tr><\/table>\n\n71\n\n\n\n"} +{"QID":"q_Ra008","Question":"How did the growth rates of revenues from Footwear, Apparel, and Equipment compare from Fiscal 2017 to Fiscal 2018, and which category experienced the highest and lowest percentage change?","ground_truth_answer":"Footwear Revenues (Fiscal 2018): $3,575 million\n\nFootwear Revenues (Fiscal 2017): $3,285 million\n\nPercentage Change (Footwear): 9%\n\nApparel Revenues (Fiscal 2018): $1,347 million\n\nApparel Revenues (Fiscal 2017): $1,185 million\n\nPercentage Change (Apparel): 14%\n\nEquipment Revenues (Fiscal 2018): $244 million\n\nEquipment Revenues (Fiscal 2017): $267 million\n\nPercentage Change (Equipment): -9%\nFootware= ((3,575 - 3,285)\/(3285))*100=8.83%\nApparel=(1,347-1,185)\/(1,185)*100=13.67%\nEquipment=(244-267)\/(267)*100=-8.61%\nFrom Fiscal 2017 to Fiscal 2018:\n\nApparel experienced the highest growth rate at approximately 14%, driven by increased demand and product innovation.\nFootwear revenues grew by approximately 9%, showing steady growth in the region.\nEquipment revenues declined by approximately -9%, indicating challenges in this category, possibly due to decreased demand or competitive pressures.","question_type":"Ratio","page_number":30,"accession_number":"0000320187-18-000142","item":"ITEM 7. Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 30: \nAsia Pacific & Latin America\n\n\n| | | | | | | | | | | | | | | | | | | | | | | | |\n|---:|:----------------------------------|:------------|:------|:------------|:------|:---------|:------|:------------------------------------|:---|:------------|:---|:---------|:---|:------------------------------------|:---|:------|:------|:---|:---|:---|:---|:---|:---|\n| 2 | (Dollars in millions) | Fiscal 2018 | | Fiscal 2017 | | % Change | | % Change Excluding Currency Changes | | Fiscal 2016 | | % Change | | % Change Excluding Currency Changes | | | | | | | | | |\n| 3 | Revenues by: | | | | | | | | | | | | | | | | | | | | | | |\n| 4 | Footwear | $ | 3,575 | | | $ | 3,285 | | | 9 | % | | 9 | % | | $ | 2,930 | | | 12 | % | 16 | % |\n| 5 | Apparel | 1,347 | | | 1,185 | | | 14 | % | | 15 | % | | 1,117 | | | 6 | % | | 9 | % | | |\n| 6 | Equipment | 244 | | | 267 | | | -9 | % | | -8 | % | | 270 | | | -1 | % | | -1 | % | | |\n| 7 | TOTAL REVENUES | $ | 5,166 | | | $ | 4,737 | | | 9 | % | | 10 | % | | $ | 4,317 | | | 10 | % | 13 | % |\n| 8 | Revenues by: | | | | | | | | | | | | | | | | | | | | | | |\n| 9 | Sales to Wholesale Customers | $ | 3,829 | | | $ | 3,631 | | | 5 | % | | 6 | % | | $ | 3,411 | | | 6 | % | 10 | % |\n| 10 | Sales through NIKE Direct | 1,337 | | | 1,106 | | | 21 | % | | 21 | % | | 906 | | | 22 | % | | 21 | % | | |\n| 11 | TOTAL REVENUES | $ | 5,166 | | | $ | 4,737 | | | 9 | % | | 10 | % | | $ | 4,317 | | | 10 | % | 13 | % |\n| 12 | EARNINGS BEFORE INTERESTAND TAXES | $ | 1,189 | | | $ | 980 | | | 21 | % | | | | $ | 1,002 | | | -2 | % | | | |\n\n\nFiscal 2018 Compared to Fiscal 2017\n\nOn a currency-neutral basis, APLA revenues increased 10%, driven by higher revenues in every territory. Territory revenue growth was broad-based, led by SOCO (which comprises Argentina, Uruguay and Chile), which grew 19%. Revenues increased in all key categories, led by Sportswear and Running. NIKE Direct revenues increased 21%, fueled by comparable store sales growth of 11%, strong digital commerce sales growth and the addition of new stores.\nThe 9% increase in currency-neutral footwear revenues for fiscal 2018 was attributable to growth in every key category, led by Sportswear and Running. Unit sales of footwear increased 5% and higher ASP per pair contributed approximately 4 percentage points of footwear revenue growth, driven by higher full-price, off-price and NIKE Direct ASPs.\nCurrency-neutral apparel revenues grew 15% for fiscal 2018, driven by higher revenues in every key category, most notably Sportswear and, to a lesser extent, Football (Soccer), Training and NIKE Basketball. Unit sales of apparel increased 11% and higher ASP per unit contributed approximately 4 percentage points of apparel revenue growth. The increase in ASP per unit was primarily driven by higher full-price ASP and, to a lesser extent, favorable off-price mix and higher off-price ASP. \nReported EBIT increased 21% due to revenue growth, strong selling and administrative expense leverage and gross margin expansion. Gross margin increased 90 basis points as higher full-price ASP and favorable standard foreign currency exchange rates more than offset higher product costs. Selling and administrative expense increased as higher operating overhead costs resulting from continued investments in our growing NIKE Direct business more than offset lower demand creation expense. The decrease in demand creation expense was primarily attributable to lower marketing costs as a result of prior year investments to support the Rio Olympics.\n\nFiscal 2017 Compared to Fiscal 2016\n\nOn a currency-neutral basis, APLA revenues for fiscal 2017 increased 13%. Revenue growth was broad-based across all territories, led by SOCO, Korea and Mexico, which grew 34%, 14% and 18%, respectively. Additionally, revenues increased in all key categories, led by Running and Sportswear. NIKE Direct revenues increased 21%, fueled by the addition of new stores, comparable store sales growth of 11% and higher digital commerce sales.\nThe increase in currency-neutral footwear revenue for fiscal 2017 was attributable to growth in all key categories, most notably Running and Sportswear. Unit sales of footwear increased 9%. Higher ASP per pair contributed approximately 7 percentage points of footwear revenue growth, primarily attributable to higher full-price ASP, in part reflecting inflationary conditions in certain territories.\nCurrency-neutral growth in apparel revenue was fueled by increases in all key categories, led by Sportswear and Running. For fiscal 2017, unit sales of apparel increased 3% and higher ASP per unit contributed approximately 6 percentage points of apparel revenue growth. The increase in ASP per unit was primarily driven by higher full-price ASP, in part reflecting inflationary conditions in certain territories.\nReported EBIT decreased 2%, in part reflecting the negative impact of changes in foreign currency exchange rates, primarily the Argentine Peso and Mexican Peso. Reported revenue growth and selling and administrative expense leverage were more than offset by lower gross margin. Gross margin decreased 370 basis points as higher full-price ASP was more than offset by unfavorable standard foreign currency exchange rates and higher product costs. Selling and administrative expense increased due to higher operating overhead costs primarily resulting from ongoing investments in our growing NIKE Direct business, partially offset by administrative cost efficiencies. Demand creation expense also increased as lower advertising costs were more than offset by increased marketing support for the Rio Olympics in the first quarter, as well as higher sports marketing costs.\n30\n\n\n\n","context_markdown_without_headers":"\nAsia Pacific & Latin America\n\n\n| | | | | | | | | | | | | | | | | | | | | | | | |\n|---:|:----------------------------------|:------------|:------|:------------|:------|:---------|:------|:------------------------------------|:---|:------------|:---|:---------|:---|:------------------------------------|:---|:------|:------|:---|:---|:---|:---|:---|:---|\n| 2 | (Dollars in millions) | Fiscal 2018 | | Fiscal 2017 | | % Change | | % Change Excluding Currency Changes | | Fiscal 2016 | | % Change | | % Change Excluding Currency Changes | | | | | | | | | |\n| 3 | Revenues by: | | | | | | | | | | | | | | | | | | | | | | |\n| 4 | Footwear | $ | 3,575 | | | $ | 3,285 | | | 9 | % | | 9 | % | | $ | 2,930 | | | 12 | % | 16 | % |\n| 5 | Apparel | 1,347 | | | 1,185 | | | 14 | % | | 15 | % | | 1,117 | | | 6 | % | | 9 | % | | |\n| 6 | Equipment | 244 | | | 267 | | | -9 | % | | -8 | % | | 270 | | | -1 | % | | -1 | % | | |\n| 7 | TOTAL REVENUES | $ | 5,166 | | | $ | 4,737 | | | 9 | % | | 10 | % | | $ | 4,317 | | | 10 | % | 13 | % |\n| 8 | Revenues by: | | | | | | | | | | | | | | | | | | | | | | |\n| 9 | Sales to Wholesale Customers | $ | 3,829 | | | $ | 3,631 | | | 5 | % | | 6 | % | | $ | 3,411 | | | 6 | % | 10 | % |\n| 10 | Sales through NIKE Direct | 1,337 | | | 1,106 | | | 21 | % | | 21 | % | | 906 | | | 22 | % | | 21 | % | | |\n| 11 | TOTAL REVENUES | $ | 5,166 | | | $ | 4,737 | | | 9 | % | | 10 | % | | $ | 4,317 | | | 10 | % | 13 | % |\n| 12 | EARNINGS BEFORE INTERESTAND TAXES | $ | 1,189 | | | $ | 980 | | | 21 | % | | | | $ | 1,002 | | | -2 | % | | | |\n\n\nFiscal 2018 Compared to Fiscal 2017\n\nOn a currency-neutral basis, APLA revenues increased 10%, driven by higher revenues in every territory. Territory revenue growth was broad-based, led by SOCO (which comprises Argentina, Uruguay and Chile), which grew 19%. Revenues increased in all key categories, led by Sportswear and Running. NIKE Direct revenues increased 21%, fueled by comparable store sales growth of 11%, strong digital commerce sales growth and the addition of new stores.\nThe 9% increase in currency-neutral footwear revenues for fiscal 2018 was attributable to growth in every key category, led by Sportswear and Running. Unit sales of footwear increased 5% and higher ASP per pair contributed approximately 4 percentage points of footwear revenue growth, driven by higher full-price, off-price and NIKE Direct ASPs.\nCurrency-neutral apparel revenues grew 15% for fiscal 2018, driven by higher revenues in every key category, most notably Sportswear and, to a lesser extent, Football (Soccer), Training and NIKE Basketball. Unit sales of apparel increased 11% and higher ASP per unit contributed approximately 4 percentage points of apparel revenue growth. The increase in ASP per unit was primarily driven by higher full-price ASP and, to a lesser extent, favorable off-price mix and higher off-price ASP. \nReported EBIT increased 21% due to revenue growth, strong selling and administrative expense leverage and gross margin expansion. Gross margin increased 90 basis points as higher full-price ASP and favorable standard foreign currency exchange rates more than offset higher product costs. Selling and administrative expense increased as higher operating overhead costs resulting from continued investments in our growing NIKE Direct business more than offset lower demand creation expense. The decrease in demand creation expense was primarily attributable to lower marketing costs as a result of prior year investments to support the Rio Olympics.\n\nFiscal 2017 Compared to Fiscal 2016\n\nOn a currency-neutral basis, APLA revenues for fiscal 2017 increased 13%. Revenue growth was broad-based across all territories, led by SOCO, Korea and Mexico, which grew 34%, 14% and 18%, respectively. Additionally, revenues increased in all key categories, led by Running and Sportswear. NIKE Direct revenues increased 21%, fueled by the addition of new stores, comparable store sales growth of 11% and higher digital commerce sales.\nThe increase in currency-neutral footwear revenue for fiscal 2017 was attributable to growth in all key categories, most notably Running and Sportswear. Unit sales of footwear increased 9%. Higher ASP per pair contributed approximately 7 percentage points of footwear revenue growth, primarily attributable to higher full-price ASP, in part reflecting inflationary conditions in certain territories.\nCurrency-neutral growth in apparel revenue was fueled by increases in all key categories, led by Sportswear and Running. For fiscal 2017, unit sales of apparel increased 3% and higher ASP per unit contributed approximately 6 percentage points of apparel revenue growth. The increase in ASP per unit was primarily driven by higher full-price ASP, in part reflecting inflationary conditions in certain territories.\nReported EBIT decreased 2%, in part reflecting the negative impact of changes in foreign currency exchange rates, primarily the Argentine Peso and Mexican Peso. Reported revenue growth and selling and administrative expense leverage were more than offset by lower gross margin. Gross margin decreased 370 basis points as higher full-price ASP was more than offset by unfavorable standard foreign currency exchange rates and higher product costs. Selling and administrative expense increased due to higher operating overhead costs primarily resulting from ongoing investments in our growing NIKE Direct business, partially offset by administrative cost efficiencies. Demand creation expense also increased as lower advertising costs were more than offset by increased marketing support for the Rio Olympics in the first quarter, as well as higher sports marketing costs.\n30\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 30: \nAsia Pacific & Latin America\n\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(Dollars in millions)<\/td> <\/td>Fiscal 2018<\/td> <\/td>Fiscal 2017<\/td> <\/td>% Change<\/td> <\/td>% Change Excluding Currency Changes<\/td> <\/td>Fiscal 2016<\/td> <\/td>% Change<\/td> <\/td>% Change Excluding Currency Changes<\/td><\/tr>
Revenues by:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Footwear<\/td> <\/td>$<\/td>3,575<\/td><\/td> <\/td>$<\/td>3,285<\/td><\/td> <\/td>9<\/td> %<\/td> <\/td>9<\/td> %<\/td> <\/td>$<\/td>2,930<\/td><\/td> <\/td>12<\/td> %<\/td> <\/td>16<\/td> %<\/td><\/tr>
Apparel<\/td> <\/td>1,347<\/td><\/td> <\/td>1,185<\/td><\/td> <\/td>14<\/td> %<\/td> <\/td>15<\/td> %<\/td> <\/td>1,117<\/td><\/td> <\/td>6<\/td> %<\/td> <\/td>9<\/td> %<\/td><\/tr>
Equipment<\/td> <\/td>244<\/td><\/td> <\/td>267<\/td><\/td> <\/td>-9<\/td> %<\/td> <\/td>-8<\/td> %<\/td> <\/td>270<\/td><\/td> <\/td>-1<\/td> %<\/td> <\/td>-1<\/td> %<\/td><\/tr>
TOTAL REVENUES<\/td> <\/td>$<\/td>5,166<\/td><\/td> <\/td>$<\/td>4,737<\/td><\/td> <\/td>9<\/td> %<\/td> <\/td>10<\/td> %<\/td> <\/td>$<\/td>4,317<\/td><\/td> <\/td>10<\/td> %<\/td> <\/td>13<\/td> %<\/td><\/tr>
Revenues by:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Sales to Wholesale Customers<\/td> <\/td>$<\/td>3,829<\/td><\/td> <\/td>$<\/td>3,631<\/td><\/td> <\/td>5<\/td> %<\/td> <\/td>6<\/td> %<\/td> <\/td>$<\/td>3,411<\/td><\/td> <\/td>6<\/td> %<\/td> <\/td>10<\/td> %<\/td><\/tr>
Sales through NIKE Direct<\/td> <\/td>1,337<\/td><\/td> <\/td>1,106<\/td><\/td> <\/td>21<\/td> %<\/td> <\/td>21<\/td> %<\/td> <\/td>906<\/td><\/td> <\/td>22<\/td> %<\/td> <\/td>21<\/td> %<\/td><\/tr>
TOTAL REVENUES<\/td> <\/td>$<\/td>5,166<\/td><\/td> <\/td>$<\/td>4,737<\/td><\/td> <\/td>9<\/td> %<\/td> <\/td>10<\/td> %<\/td> <\/td>$<\/td>4,317<\/td><\/td> <\/td>10<\/td> %<\/td> <\/td>13<\/td> %<\/td><\/tr>
EARNINGS BEFORE INTERESTAND TAXES<\/td> <\/td>$<\/td>1,189<\/td><\/td> <\/td>$<\/td>980<\/td><\/td> <\/td>21<\/td> %<\/td> <\/td> <\/td> <\/td>$<\/td>1,002<\/td><\/td> <\/td>-2<\/td> %<\/td> <\/td> <\/td><\/tr><\/table>\n\nFiscal 2018 Compared to Fiscal 2017\n\nOn a currency-neutral basis, APLA revenues increased 10%, driven by higher revenues in every territory. Territory revenue growth was broad-based, led by SOCO (which comprises Argentina, Uruguay and Chile), which grew 19%. Revenues increased in all key categories, led by Sportswear and Running. NIKE Direct revenues increased 21%, fueled by comparable store sales growth of 11%, strong digital commerce sales growth and the addition of new stores.\nThe 9% increase in currency-neutral footwear revenues for fiscal 2018 was attributable to growth in every key category, led by Sportswear and Running. Unit sales of footwear increased 5% and higher ASP per pair contributed approximately 4 percentage points of footwear revenue growth, driven by higher full-price, off-price and NIKE Direct ASPs.\nCurrency-neutral apparel revenues grew 15% for fiscal 2018, driven by higher revenues in every key category, most notably Sportswear and, to a lesser extent, Football (Soccer), Training and NIKE Basketball. Unit sales of apparel increased 11% and higher ASP per unit contributed approximately 4 percentage points of apparel revenue growth. The increase in ASP per unit was primarily driven by higher full-price ASP and, to a lesser extent, favorable off-price mix and higher off-price ASP. \nReported EBIT increased 21% due to revenue growth, strong selling and administrative expense leverage and gross margin expansion. Gross margin increased 90 basis points as higher full-price ASP and favorable standard foreign currency exchange rates more than offset higher product costs. Selling and administrative expense increased as higher operating overhead costs resulting from continued investments in our growing NIKE Direct business more than offset lower demand creation expense. The decrease in demand creation expense was primarily attributable to lower marketing costs as a result of prior year investments to support the Rio Olympics.\n\nFiscal 2017 Compared to Fiscal 2016\n\nOn a currency-neutral basis, APLA revenues for fiscal 2017 increased 13%. Revenue growth was broad-based across all territories, led by SOCO, Korea and Mexico, which grew 34%, 14% and 18%, respectively. Additionally, revenues increased in all key categories, led by Running and Sportswear. NIKE Direct revenues increased 21%, fueled by the addition of new stores, comparable store sales growth of 11% and higher digital commerce sales.\nThe increase in currency-neutral footwear revenue for fiscal 2017 was attributable to growth in all key categories, most notably Running and Sportswear. Unit sales of footwear increased 9%. Higher ASP per pair contributed approximately 7 percentage points of footwear revenue growth, primarily attributable to higher full-price ASP, in part reflecting inflationary conditions in certain territories.\nCurrency-neutral growth in apparel revenue was fueled by increases in all key categories, led by Sportswear and Running. For fiscal 2017, unit sales of apparel increased 3% and higher ASP per unit contributed approximately 6 percentage points of apparel revenue growth. The increase in ASP per unit was primarily driven by higher full-price ASP, in part reflecting inflationary conditions in certain territories.\nReported EBIT decreased 2%, in part reflecting the negative impact of changes in foreign currency exchange rates, primarily the Argentine Peso and Mexican Peso. Reported revenue growth and selling and administrative expense leverage were more than offset by lower gross margin. Gross margin decreased 370 basis points as higher full-price ASP was more than offset by unfavorable standard foreign currency exchange rates and higher product costs. Selling and administrative expense increased due to higher operating overhead costs primarily resulting from ongoing investments in our growing NIKE Direct business, partially offset by administrative cost efficiencies. Demand creation expense also increased as lower advertising costs were more than offset by increased marketing support for the Rio Olympics in the first quarter, as well as higher sports marketing costs.\n30\n\n\n\n","context_html_without_headers":"\nAsia Pacific & Latin America\n\n\n
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(Dollars in millions)<\/td> <\/td>Fiscal 2018<\/td> <\/td>Fiscal 2017<\/td> <\/td>% Change<\/td> <\/td>% Change Excluding Currency Changes<\/td> <\/td>Fiscal 2016<\/td> <\/td>% Change<\/td> <\/td>% Change Excluding Currency Changes<\/td><\/tr>
Revenues by:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Footwear<\/td> <\/td>$<\/td>3,575<\/td><\/td> <\/td>$<\/td>3,285<\/td><\/td> <\/td>9<\/td> %<\/td> <\/td>9<\/td> %<\/td> <\/td>$<\/td>2,930<\/td><\/td> <\/td>12<\/td> %<\/td> <\/td>16<\/td> %<\/td><\/tr>
Apparel<\/td> <\/td>1,347<\/td><\/td> <\/td>1,185<\/td><\/td> <\/td>14<\/td> %<\/td> <\/td>15<\/td> %<\/td> <\/td>1,117<\/td><\/td> <\/td>6<\/td> %<\/td> <\/td>9<\/td> %<\/td><\/tr>
Equipment<\/td> <\/td>244<\/td><\/td> <\/td>267<\/td><\/td> <\/td>-9<\/td> %<\/td> <\/td>-8<\/td> %<\/td> <\/td>270<\/td><\/td> <\/td>-1<\/td> %<\/td> <\/td>-1<\/td> %<\/td><\/tr>
TOTAL REVENUES<\/td> <\/td>$<\/td>5,166<\/td><\/td> <\/td>$<\/td>4,737<\/td><\/td> <\/td>9<\/td> %<\/td> <\/td>10<\/td> %<\/td> <\/td>$<\/td>4,317<\/td><\/td> <\/td>10<\/td> %<\/td> <\/td>13<\/td> %<\/td><\/tr>
Revenues by:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Sales to Wholesale Customers<\/td> <\/td>$<\/td>3,829<\/td><\/td> <\/td>$<\/td>3,631<\/td><\/td> <\/td>5<\/td> %<\/td> <\/td>6<\/td> %<\/td> <\/td>$<\/td>3,411<\/td><\/td> <\/td>6<\/td> %<\/td> <\/td>10<\/td> %<\/td><\/tr>
Sales through NIKE Direct<\/td> <\/td>1,337<\/td><\/td> <\/td>1,106<\/td><\/td> <\/td>21<\/td> %<\/td> <\/td>21<\/td> %<\/td> <\/td>906<\/td><\/td> <\/td>22<\/td> %<\/td> <\/td>21<\/td> %<\/td><\/tr>
TOTAL REVENUES<\/td> <\/td>$<\/td>5,166<\/td><\/td> <\/td>$<\/td>4,737<\/td><\/td> <\/td>9<\/td> %<\/td> <\/td>10<\/td> %<\/td> <\/td>$<\/td>4,317<\/td><\/td> <\/td>10<\/td> %<\/td> <\/td>13<\/td> %<\/td><\/tr>
EARNINGS BEFORE INTERESTAND TAXES<\/td> <\/td>$<\/td>1,189<\/td><\/td> <\/td>$<\/td>980<\/td><\/td> <\/td>21<\/td> %<\/td> <\/td> <\/td> <\/td>$<\/td>1,002<\/td><\/td> <\/td>-2<\/td> %<\/td> <\/td> <\/td><\/tr><\/table>\n\nFiscal 2018 Compared to Fiscal 2017\n\nOn a currency-neutral basis, APLA revenues increased 10%, driven by higher revenues in every territory. Territory revenue growth was broad-based, led by SOCO (which comprises Argentina, Uruguay and Chile), which grew 19%. Revenues increased in all key categories, led by Sportswear and Running. NIKE Direct revenues increased 21%, fueled by comparable store sales growth of 11%, strong digital commerce sales growth and the addition of new stores.\nThe 9% increase in currency-neutral footwear revenues for fiscal 2018 was attributable to growth in every key category, led by Sportswear and Running. Unit sales of footwear increased 5% and higher ASP per pair contributed approximately 4 percentage points of footwear revenue growth, driven by higher full-price, off-price and NIKE Direct ASPs.\nCurrency-neutral apparel revenues grew 15% for fiscal 2018, driven by higher revenues in every key category, most notably Sportswear and, to a lesser extent, Football (Soccer), Training and NIKE Basketball. Unit sales of apparel increased 11% and higher ASP per unit contributed approximately 4 percentage points of apparel revenue growth. The increase in ASP per unit was primarily driven by higher full-price ASP and, to a lesser extent, favorable off-price mix and higher off-price ASP. \nReported EBIT increased 21% due to revenue growth, strong selling and administrative expense leverage and gross margin expansion. Gross margin increased 90 basis points as higher full-price ASP and favorable standard foreign currency exchange rates more than offset higher product costs. Selling and administrative expense increased as higher operating overhead costs resulting from continued investments in our growing NIKE Direct business more than offset lower demand creation expense. The decrease in demand creation expense was primarily attributable to lower marketing costs as a result of prior year investments to support the Rio Olympics.\n\nFiscal 2017 Compared to Fiscal 2016\n\nOn a currency-neutral basis, APLA revenues for fiscal 2017 increased 13%. Revenue growth was broad-based across all territories, led by SOCO, Korea and Mexico, which grew 34%, 14% and 18%, respectively. Additionally, revenues increased in all key categories, led by Running and Sportswear. NIKE Direct revenues increased 21%, fueled by the addition of new stores, comparable store sales growth of 11% and higher digital commerce sales.\nThe increase in currency-neutral footwear revenue for fiscal 2017 was attributable to growth in all key categories, most notably Running and Sportswear. Unit sales of footwear increased 9%. Higher ASP per pair contributed approximately 7 percentage points of footwear revenue growth, primarily attributable to higher full-price ASP, in part reflecting inflationary conditions in certain territories.\nCurrency-neutral growth in apparel revenue was fueled by increases in all key categories, led by Sportswear and Running. For fiscal 2017, unit sales of apparel increased 3% and higher ASP per unit contributed approximately 6 percentage points of apparel revenue growth. The increase in ASP per unit was primarily driven by higher full-price ASP, in part reflecting inflationary conditions in certain territories.\nReported EBIT decreased 2%, in part reflecting the negative impact of changes in foreign currency exchange rates, primarily the Argentine Peso and Mexican Peso. Reported revenue growth and selling and administrative expense leverage were more than offset by lower gross margin. Gross margin decreased 370 basis points as higher full-price ASP was more than offset by unfavorable standard foreign currency exchange rates and higher product costs. Selling and administrative expense increased due to higher operating overhead costs primarily resulting from ongoing investments in our growing NIKE Direct business, partially offset by administrative cost efficiencies. Demand creation expense also increased as lower advertising costs were more than offset by increased marketing support for the Rio Olympics in the first quarter, as well as higher sports marketing costs.\n30\n\n\n\n"} +{"QID":"q_Ra009","Question":"How did Nike's stock price perform in 2018 compared to key financial metrics?","ground_truth_answer":"From Nike's 2018 financial statements, the following details about its stock performance and key financial metrics are observed:\n\nStock Price Performance:\nYear-end stock price (2018): $71.80\nYear-end stock price (2017): $52.99\nHigh stock price (2018): $73.49\nLow stock price (2018): $50.35\nKey Financial Metrics (2018 vs. 2017):\nRevenues: Increased from $34,350 million in 2017 to $36,397 million in 2018 (6% growth).\nNet Income: Decreased from $4,240 million in 2017 to $1,933 million in 2018, reflecting a decline.\nEarnings per Share (EPS):\nBasic EPS: $1.19 in 2018, down from $2.56 in 2017.\nDiluted EPS: $1.17 in 2018, down from $2.51 in 2017","question_type":"Ratio","page_number":18,"accession_number":"0000320187-18-000142","item":"ITEM 6. Selected Financial Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 18: \nITEM 6. Selected Financial Data\n\nAll share and per share amounts are reflective of the two-for-one stock split that began trading at the split-adjusted price on December 24, 2015.\n| | | | | | | | | | | | | | | | |\n|---:|:----------------------------------------------------------|:------------------|:-------|:--------|:---|:-------|:--------|:-----|:---|:--------|:---|:--------|:-------|:---|:-------|\n| 2 | (In millions, except per share data and financial ratios) | Financial History | | | | | | | | | | | | | |\n| 3 | 2018 | | 2017 | 2016 | | 2015 | | 2014 | | | | | | | |\n| 4 | Year Ended May 31, | | | | | | | | | | | | | | |\n| 5 | Revenues | $ | 36,397 | | $ | 34,350 | | | $ | 32,376 | | $ | 30,601 | $ | 27,799 |\n| 6 | Gross profit | 15,956 | | 15,312 | | | 14,971 | | | 14,067 | | 12,446 | | | |\n| 7 | Gross margin | 43.8 | % | 44.6 | % | | 46.2 | % | | 46.0 | % | 44.8 | % | | |\n| 8 | Net income | 1,933 | | 4,240 | | | 3,760 | | | 3,273 | | 2,693 | | | |\n| 9 | Earnings per common share: | | | | | | | | | | | | | | |\n| 10 | Basic | 1.19 | | 2.56 | | | 2.21 | | | 1.90 | | 1.52 | | | |\n| 11 | Diluted | 1.17 | | 2.51 | | | 2.16 | | | 1.85 | | 1.49 | | | |\n| 12 | Weighted average common shares outstanding | 1,623.8 | | 1,657.8 | | | 1,697.9 | | | 1,723.5 | | 1,766.7 | | | |\n| 13 | Diluted weighted average common shares outstanding | 1,659.1 | | 1,692.0 | | | 1,742.5 | | | 1,768.8 | | 1,811.6 | | | |\n| 14 | Cash dividends declared per common share | 0.78 | | 0.70 | | | 0.62 | | | 0.54 | | 0.47 | | | |\n| 15 | Cash flow from operations(1) | 4,955 | | 3,846 | | | 3,399 | | | 4,906 | | 3,158 | | | |\n| 16 | Price range of common stock: | | | | | | | | | | | | | | |\n| 17 | High | 73.49 | | 60.33 | | | 68.19 | | | 52.75 | | 40.13 | | | |\n| 18 | Low | 50.35 | | 49.01 | | | 47.25 | | | 36.57 | | 29.56 | | | |\n| 19 | At May 31, | | | | | | | | | | | | | | |\n| 20 | Cash and equivalents | $ | 4,249 | | $ | 3,808 | | | $ | 3,138 | | $ | 3,852 | $ | 2,220 |\n| 21 | Short-term investments | 996 | | 2,371 | | | 2,319 | | | 2,072 | | 2,922 | | | |\n| 22 | Inventories | 5,261 | | 5,055 | | | 4,838 | | | 4,337 | | 3,947 | | | |\n| 23 | Working capital | 9,094 | | 10,587 | | | 9,667 | | | 9,225 | | 8,319 | | | |\n| 24 | Total assets | 22,536 | | 23,259 | | | 21,379 | | | 21,590 | | 18,579 | | | |\n| 25 | Long-term debt | 3,468 | | 3,471 | | | 1,993 | | | 1,072 | | 1,191 | | | |\n| 26 | Capital lease obligations | 75 | | 27 | | | 15 | | | 5 | | 74 | | | |\n| 27 | Redeemable preferred stock | 0.3 | | 0.3 | | | 0.3 | | | 0.3 | | 0.3 | | | |\n| 28 | Shareholders' equity | 9,812 | | 12,407 | | | 12,258 | | | 12,707 | | 10,824 | | | |\n| 29 | Year-end stock price | 71.80 | | 52.99 | | | 55.22 | | | 50.84 | | 38.46 | | | |\n| 30 | Market capitalization | 114,983 | | 87,084 | | | 92,867 | | | 87,044 | | 66,921 | | | |\n| 31 | Financial Ratios: | | | | | | | | | | | | | | |\n| 32 | Return on equity(2) | 17.4 | % | 34.4 | % | | 30.1 | % | | 27.8 | % | 24.6 | % | | |\n| 33 | Return on assets(2) | 8.4 | % | 19.0 | % | | 17.5 | % | | 16.3 | % | 14.9 | % | | |\n| 34 | Inventory turns | 4.0 | | 3.8 | | | 3.8 | | | 4.0 | | 4.1 | | | |\n| 35 | Current ratio at May 31 | 2.5 | | 2.9 | | | 2.8 | | | 2.5 | | 2.7 | | | |\n| 36 | Price\/Earnings ratio at May 31(2) | 61.4 | | 21.1 | | | 25.6 | | | 27.5 | | 25.9 | | | |\n| | | |\n|---:|:----|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|\n| 1 | (1) | Prior year amounts have been updated to reflect the adoption of Accounting Standards Update No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. As a result of adoption, the Company reclassified cash inflows of $177 million, $281 million, $218 million and $132 million for the years ended May 31, 2017, 2016, 2015 and 2014, respectively, related to excess tax benefits from share-based payment awards, from Cash used by financing activities to Cash provided by operations. Additionally, the Company reclassified cash outflows of $29 million, $22 million, $8 million and $13 million for the years ended May 31, 2017, 2016, 2015 and 2014, respectively, related to tax payments for the net settlement of share-based payment awards, from Cash provided by operations to Cash used by financing activities within the Consolidated Statements of Cash Flows. Refer to Note 1 - Summary of Significant Accounting Policies for additional information. |\n\n| | | |\n|---:|:----|:-------------------------------------------------------------------------------------------------------------------------------------------------|\n| 1 | (2) | Certain fiscal 2018 financial ratios reflect the impact of the Tax Cuts and Jobs Act. Refer to Note 9 - Income Taxes for additional information. |\n\n18\n\n\n\n","context_markdown_without_headers":"\nITEM 6. Selected Financial Data\n\nAll share and per share amounts are reflective of the two-for-one stock split that began trading at the split-adjusted price on December 24, 2015.\n| | | | | | | | | | | | | | | | |\n|---:|:----------------------------------------------------------|:------------------|:-------|:--------|:---|:-------|:--------|:-----|:---|:--------|:---|:--------|:-------|:---|:-------|\n| 2 | (In millions, except per share data and financial ratios) | Financial History | | | | | | | | | | | | | |\n| 3 | 2018 | | 2017 | 2016 | | 2015 | | 2014 | | | | | | | |\n| 4 | Year Ended May 31, | | | | | | | | | | | | | | |\n| 5 | Revenues | $ | 36,397 | | $ | 34,350 | | | $ | 32,376 | | $ | 30,601 | $ | 27,799 |\n| 6 | Gross profit | 15,956 | | 15,312 | | | 14,971 | | | 14,067 | | 12,446 | | | |\n| 7 | Gross margin | 43.8 | % | 44.6 | % | | 46.2 | % | | 46.0 | % | 44.8 | % | | |\n| 8 | Net income | 1,933 | | 4,240 | | | 3,760 | | | 3,273 | | 2,693 | | | |\n| 9 | Earnings per common share: | | | | | | | | | | | | | | |\n| 10 | Basic | 1.19 | | 2.56 | | | 2.21 | | | 1.90 | | 1.52 | | | |\n| 11 | Diluted | 1.17 | | 2.51 | | | 2.16 | | | 1.85 | | 1.49 | | | |\n| 12 | Weighted average common shares outstanding | 1,623.8 | | 1,657.8 | | | 1,697.9 | | | 1,723.5 | | 1,766.7 | | | |\n| 13 | Diluted weighted average common shares outstanding | 1,659.1 | | 1,692.0 | | | 1,742.5 | | | 1,768.8 | | 1,811.6 | | | |\n| 14 | Cash dividends declared per common share | 0.78 | | 0.70 | | | 0.62 | | | 0.54 | | 0.47 | | | |\n| 15 | Cash flow from operations(1) | 4,955 | | 3,846 | | | 3,399 | | | 4,906 | | 3,158 | | | |\n| 16 | Price range of common stock: | | | | | | | | | | | | | | |\n| 17 | High | 73.49 | | 60.33 | | | 68.19 | | | 52.75 | | 40.13 | | | |\n| 18 | Low | 50.35 | | 49.01 | | | 47.25 | | | 36.57 | | 29.56 | | | |\n| 19 | At May 31, | | | | | | | | | | | | | | |\n| 20 | Cash and equivalents | $ | 4,249 | | $ | 3,808 | | | $ | 3,138 | | $ | 3,852 | $ | 2,220 |\n| 21 | Short-term investments | 996 | | 2,371 | | | 2,319 | | | 2,072 | | 2,922 | | | |\n| 22 | Inventories | 5,261 | | 5,055 | | | 4,838 | | | 4,337 | | 3,947 | | | |\n| 23 | Working capital | 9,094 | | 10,587 | | | 9,667 | | | 9,225 | | 8,319 | | | |\n| 24 | Total assets | 22,536 | | 23,259 | | | 21,379 | | | 21,590 | | 18,579 | | | |\n| 25 | Long-term debt | 3,468 | | 3,471 | | | 1,993 | | | 1,072 | | 1,191 | | | |\n| 26 | Capital lease obligations | 75 | | 27 | | | 15 | | | 5 | | 74 | | | |\n| 27 | Redeemable preferred stock | 0.3 | | 0.3 | | | 0.3 | | | 0.3 | | 0.3 | | | |\n| 28 | Shareholders' equity | 9,812 | | 12,407 | | | 12,258 | | | 12,707 | | 10,824 | | | |\n| 29 | Year-end stock price | 71.80 | | 52.99 | | | 55.22 | | | 50.84 | | 38.46 | | | |\n| 30 | Market capitalization | 114,983 | | 87,084 | | | 92,867 | | | 87,044 | | 66,921 | | | |\n| 31 | Financial Ratios: | | | | | | | | | | | | | | |\n| 32 | Return on equity(2) | 17.4 | % | 34.4 | % | | 30.1 | % | | 27.8 | % | 24.6 | % | | |\n| 33 | Return on assets(2) | 8.4 | % | 19.0 | % | | 17.5 | % | | 16.3 | % | 14.9 | % | | |\n| 34 | Inventory turns | 4.0 | | 3.8 | | | 3.8 | | | 4.0 | | 4.1 | | | |\n| 35 | Current ratio at May 31 | 2.5 | | 2.9 | | | 2.8 | | | 2.5 | | 2.7 | | | |\n| 36 | Price\/Earnings ratio at May 31(2) | 61.4 | | 21.1 | | | 25.6 | | | 27.5 | | 25.9 | | | |\n| | | |\n|---:|:----|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|\n| 1 | (1) | Prior year amounts have been updated to reflect the adoption of Accounting Standards Update No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. As a result of adoption, the Company reclassified cash inflows of $177 million, $281 million, $218 million and $132 million for the years ended May 31, 2017, 2016, 2015 and 2014, respectively, related to excess tax benefits from share-based payment awards, from Cash used by financing activities to Cash provided by operations. Additionally, the Company reclassified cash outflows of $29 million, $22 million, $8 million and $13 million for the years ended May 31, 2017, 2016, 2015 and 2014, respectively, related to tax payments for the net settlement of share-based payment awards, from Cash provided by operations to Cash used by financing activities within the Consolidated Statements of Cash Flows. Refer to Note 1 - Summary of Significant Accounting Policies for additional information. |\n\n| | | |\n|---:|:----|:-------------------------------------------------------------------------------------------------------------------------------------------------|\n| 1 | (2) | Certain fiscal 2018 financial ratios reflect the impact of the Tax Cuts and Jobs Act. Refer to Note 9 - Income Taxes for additional information. |\n\n18\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 18: \nITEM 6. Selected Financial Data\n\nAll share and per share amounts are reflective of the two-for-one stock split that began trading at the split-adjusted price on December 24, 2015.\n
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(In millions, except per share data and financial ratios)<\/td>Financial History<\/td><\/tr>
2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td> <\/td>2015<\/td> <\/td>2014<\/td><\/tr>
Year Ended May 31,<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Revenues<\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td> <\/td>$<\/td>30,601<\/td><\/td> <\/td>$<\/td>27,799<\/td><\/td><\/tr>
Gross profit<\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td> <\/td>14,067<\/td><\/td> <\/td>12,446<\/td><\/td><\/tr>
Gross margin<\/td>43.8<\/td>%<\/td> <\/td>44.6<\/td>%<\/td> <\/td>46.2<\/td>%<\/td> <\/td>46.0<\/td>%<\/td> <\/td>44.8<\/td>%<\/td><\/tr>
Net income<\/td>1,933<\/td><\/td> <\/td>4,240<\/td><\/td> <\/td>3,760<\/td><\/td> <\/td>3,273<\/td><\/td> <\/td>2,693<\/td><\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td>1.19<\/td><\/td> <\/td>2.56<\/td><\/td> <\/td>2.21<\/td><\/td> <\/td>1.90<\/td><\/td> <\/td>1.52<\/td><\/td><\/tr>
Diluted<\/td>1.17<\/td><\/td> <\/td>2.51<\/td><\/td> <\/td>2.16<\/td><\/td> <\/td>1.85<\/td><\/td> <\/td>1.49<\/td><\/td><\/tr>
Weighted average common shares outstanding<\/td>1,623.8<\/td><\/td> <\/td>1,657.8<\/td><\/td> <\/td>1,697.9<\/td><\/td> <\/td>1,723.5<\/td><\/td> <\/td>1,766.7<\/td><\/td><\/tr>
Diluted weighted average common shares outstanding<\/td>1,659.1<\/td><\/td> <\/td>1,692.0<\/td><\/td> <\/td>1,742.5<\/td><\/td> <\/td>1,768.8<\/td><\/td> <\/td>1,811.6<\/td><\/td><\/tr>
Cash dividends declared per common share<\/td>0.78<\/td><\/td> <\/td>0.70<\/td><\/td> <\/td>0.62<\/td><\/td> <\/td>0.54<\/td><\/td> <\/td>0.47<\/td><\/td><\/tr>
Cash flow from operations(1)<\/td>4,955<\/td><\/td> <\/td>3,846<\/td><\/td> <\/td>3,399<\/td><\/td> <\/td>4,906<\/td><\/td> <\/td>3,158<\/td><\/td><\/tr>
Price range of common stock:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
High<\/td>73.49<\/td><\/td> <\/td>60.33<\/td><\/td> <\/td>68.19<\/td><\/td> <\/td>52.75<\/td><\/td> <\/td>40.13<\/td><\/td><\/tr>
Low<\/td>50.35<\/td><\/td> <\/td>49.01<\/td><\/td> <\/td>47.25<\/td><\/td> <\/td>36.57<\/td><\/td> <\/td>29.56<\/td><\/td><\/tr>
At May 31,<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td> <\/td>$<\/td>3,138<\/td><\/td> <\/td>$<\/td>3,852<\/td><\/td> <\/td>$<\/td>2,220<\/td><\/td><\/tr>
Short-term investments<\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td> <\/td>2,319<\/td><\/td> <\/td>2,072<\/td><\/td> <\/td>2,922<\/td><\/td><\/tr>
Inventories<\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td> <\/td>4,838<\/td><\/td> <\/td>4,337<\/td><\/td> <\/td>3,947<\/td><\/td><\/tr>
Working capital<\/td>9,094<\/td><\/td> <\/td>10,587<\/td><\/td> <\/td>9,667<\/td><\/td> <\/td>9,225<\/td><\/td> <\/td>8,319<\/td><\/td><\/tr>
Total assets<\/td>22,536<\/td><\/td> <\/td>23,259<\/td><\/td> <\/td>21,379<\/td><\/td> <\/td>21,590<\/td><\/td> <\/td>18,579<\/td><\/td><\/tr>
Long-term debt<\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td> <\/td>1,993<\/td><\/td> <\/td>1,072<\/td><\/td> <\/td>1,191<\/td><\/td><\/tr>
Capital lease obligations<\/td>75<\/td><\/td> <\/td>27<\/td><\/td> <\/td>15<\/td><\/td> <\/td>5<\/td><\/td> <\/td>74<\/td><\/td><\/tr>
Redeemable preferred stock<\/td>0.3<\/td><\/td> <\/td>0.3<\/td><\/td> <\/td>0.3<\/td><\/td> <\/td>0.3<\/td><\/td> <\/td>0.3<\/td><\/td><\/tr>
Shareholders' equity<\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td> <\/td>12,258<\/td><\/td> <\/td>12,707<\/td><\/td> <\/td>10,824<\/td><\/td><\/tr>
Year-end stock price<\/td>71.80<\/td><\/td> <\/td>52.99<\/td><\/td> <\/td>55.22<\/td><\/td> <\/td>50.84<\/td><\/td> <\/td>38.46<\/td><\/td><\/tr>
Market capitalization<\/td>114,983<\/td><\/td> <\/td>87,084<\/td><\/td> <\/td>92,867<\/td><\/td> <\/td>87,044<\/td><\/td> <\/td>66,921<\/td><\/td><\/tr>
Financial Ratios:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Return on equity(2)<\/td>17.4<\/td>%<\/td> <\/td>34.4<\/td>%<\/td> <\/td>30.1<\/td>%<\/td> <\/td>27.8<\/td>%<\/td> <\/td>24.6<\/td>%<\/td><\/tr>
Return on assets(2)<\/td>8.4<\/td>%<\/td> <\/td>19.0<\/td>%<\/td> <\/td>17.5<\/td>%<\/td> <\/td>16.3<\/td>%<\/td> <\/td>14.9<\/td>%<\/td><\/tr>
Inventory turns<\/td>4.0<\/td><\/td> <\/td>3.8<\/td><\/td> <\/td>3.8<\/td><\/td> <\/td>4.0<\/td><\/td> <\/td>4.1<\/td><\/td><\/tr>
Current ratio at May 31<\/td>2.5<\/td><\/td> <\/td>2.9<\/td><\/td> <\/td>2.8<\/td><\/td> <\/td>2.5<\/td><\/td> <\/td>2.7<\/td><\/td><\/tr>
Price\/Earnings ratio at May 31(2)<\/td>61.4<\/td><\/td> <\/td>21.1<\/td><\/td> <\/td>25.6<\/td><\/td> <\/td>27.5<\/td><\/td> <\/td>25.9<\/td><\/td><\/tr><\/table>
<\/td><\/td><\/tr>
(1)<\/td>Prior year amounts have been updated to reflect the adoption of Accounting Standards Update No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. As a result of adoption, the Company reclassified cash inflows of $177 million, $281 million, $218 million and $132 million for the years ended May 31, 2017, 2016, 2015 and 2014, respectively, related to excess tax benefits from share-based payment awards, from Cash used by financing activities to Cash provided by operations. Additionally, the Company reclassified cash outflows of $29 million, $22 million, $8 million and $13 million for the years ended May 31, 2017, 2016, 2015 and 2014, respectively, related to tax payments for the net settlement of share-based payment awards, from Cash provided by operations to Cash used by financing activities within the Consolidated Statements of Cash Flows. Refer to Note 1 - Summary of Significant Accounting Policies for additional information.<\/td><\/tr><\/table>\n
<\/td><\/td><\/tr>
(2)<\/td>Certain fiscal 2018 financial ratios reflect the impact of the Tax Cuts and Jobs Act. Refer to Note 9 - Income Taxes for additional information.<\/td><\/tr><\/table>\n18\n\n\n\n","context_html_without_headers":"\nITEM 6. Selected Financial Data\n\nAll share and per share amounts are reflective of the two-for-one stock split that began trading at the split-adjusted price on December 24, 2015.\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(In millions, except per share data and financial ratios)<\/td>Financial History<\/td><\/tr>
2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td> <\/td>2015<\/td> <\/td>2014<\/td><\/tr>
Year Ended May 31,<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Revenues<\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td> <\/td>$<\/td>30,601<\/td><\/td> <\/td>$<\/td>27,799<\/td><\/td><\/tr>
Gross profit<\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td> <\/td>14,067<\/td><\/td> <\/td>12,446<\/td><\/td><\/tr>
Gross margin<\/td>43.8<\/td>%<\/td> <\/td>44.6<\/td>%<\/td> <\/td>46.2<\/td>%<\/td> <\/td>46.0<\/td>%<\/td> <\/td>44.8<\/td>%<\/td><\/tr>
Net income<\/td>1,933<\/td><\/td> <\/td>4,240<\/td><\/td> <\/td>3,760<\/td><\/td> <\/td>3,273<\/td><\/td> <\/td>2,693<\/td><\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td>1.19<\/td><\/td> <\/td>2.56<\/td><\/td> <\/td>2.21<\/td><\/td> <\/td>1.90<\/td><\/td> <\/td>1.52<\/td><\/td><\/tr>
Diluted<\/td>1.17<\/td><\/td> <\/td>2.51<\/td><\/td> <\/td>2.16<\/td><\/td> <\/td>1.85<\/td><\/td> <\/td>1.49<\/td><\/td><\/tr>
Weighted average common shares outstanding<\/td>1,623.8<\/td><\/td> <\/td>1,657.8<\/td><\/td> <\/td>1,697.9<\/td><\/td> <\/td>1,723.5<\/td><\/td> <\/td>1,766.7<\/td><\/td><\/tr>
Diluted weighted average common shares outstanding<\/td>1,659.1<\/td><\/td> <\/td>1,692.0<\/td><\/td> <\/td>1,742.5<\/td><\/td> <\/td>1,768.8<\/td><\/td> <\/td>1,811.6<\/td><\/td><\/tr>
Cash dividends declared per common share<\/td>0.78<\/td><\/td> <\/td>0.70<\/td><\/td> <\/td>0.62<\/td><\/td> <\/td>0.54<\/td><\/td> <\/td>0.47<\/td><\/td><\/tr>
Cash flow from operations(1)<\/td>4,955<\/td><\/td> <\/td>3,846<\/td><\/td> <\/td>3,399<\/td><\/td> <\/td>4,906<\/td><\/td> <\/td>3,158<\/td><\/td><\/tr>
Price range of common stock:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
High<\/td>73.49<\/td><\/td> <\/td>60.33<\/td><\/td> <\/td>68.19<\/td><\/td> <\/td>52.75<\/td><\/td> <\/td>40.13<\/td><\/td><\/tr>
Low<\/td>50.35<\/td><\/td> <\/td>49.01<\/td><\/td> <\/td>47.25<\/td><\/td> <\/td>36.57<\/td><\/td> <\/td>29.56<\/td><\/td><\/tr>
At May 31,<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td> <\/td>$<\/td>3,138<\/td><\/td> <\/td>$<\/td>3,852<\/td><\/td> <\/td>$<\/td>2,220<\/td><\/td><\/tr>
Short-term investments<\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td> <\/td>2,319<\/td><\/td> <\/td>2,072<\/td><\/td> <\/td>2,922<\/td><\/td><\/tr>
Inventories<\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td> <\/td>4,838<\/td><\/td> <\/td>4,337<\/td><\/td> <\/td>3,947<\/td><\/td><\/tr>
Working capital<\/td>9,094<\/td><\/td> <\/td>10,587<\/td><\/td> <\/td>9,667<\/td><\/td> <\/td>9,225<\/td><\/td> <\/td>8,319<\/td><\/td><\/tr>
Total assets<\/td>22,536<\/td><\/td> <\/td>23,259<\/td><\/td> <\/td>21,379<\/td><\/td> <\/td>21,590<\/td><\/td> <\/td>18,579<\/td><\/td><\/tr>
Long-term debt<\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td> <\/td>1,993<\/td><\/td> <\/td>1,072<\/td><\/td> <\/td>1,191<\/td><\/td><\/tr>
Capital lease obligations<\/td>75<\/td><\/td> <\/td>27<\/td><\/td> <\/td>15<\/td><\/td> <\/td>5<\/td><\/td> <\/td>74<\/td><\/td><\/tr>
Redeemable preferred stock<\/td>0.3<\/td><\/td> <\/td>0.3<\/td><\/td> <\/td>0.3<\/td><\/td> <\/td>0.3<\/td><\/td> <\/td>0.3<\/td><\/td><\/tr>
Shareholders' equity<\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td> <\/td>12,258<\/td><\/td> <\/td>12,707<\/td><\/td> <\/td>10,824<\/td><\/td><\/tr>
Year-end stock price<\/td>71.80<\/td><\/td> <\/td>52.99<\/td><\/td> <\/td>55.22<\/td><\/td> <\/td>50.84<\/td><\/td> <\/td>38.46<\/td><\/td><\/tr>
Market capitalization<\/td>114,983<\/td><\/td> <\/td>87,084<\/td><\/td> <\/td>92,867<\/td><\/td> <\/td>87,044<\/td><\/td> <\/td>66,921<\/td><\/td><\/tr>
Financial Ratios:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Return on equity(2)<\/td>17.4<\/td>%<\/td> <\/td>34.4<\/td>%<\/td> <\/td>30.1<\/td>%<\/td> <\/td>27.8<\/td>%<\/td> <\/td>24.6<\/td>%<\/td><\/tr>
Return on assets(2)<\/td>8.4<\/td>%<\/td> <\/td>19.0<\/td>%<\/td> <\/td>17.5<\/td>%<\/td> <\/td>16.3<\/td>%<\/td> <\/td>14.9<\/td>%<\/td><\/tr>
Inventory turns<\/td>4.0<\/td><\/td> <\/td>3.8<\/td><\/td> <\/td>3.8<\/td><\/td> <\/td>4.0<\/td><\/td> <\/td>4.1<\/td><\/td><\/tr>
Current ratio at May 31<\/td>2.5<\/td><\/td> <\/td>2.9<\/td><\/td> <\/td>2.8<\/td><\/td> <\/td>2.5<\/td><\/td> <\/td>2.7<\/td><\/td><\/tr>
Price\/Earnings ratio at May 31(2)<\/td>61.4<\/td><\/td> <\/td>21.1<\/td><\/td> <\/td>25.6<\/td><\/td> <\/td>27.5<\/td><\/td> <\/td>25.9<\/td><\/td><\/tr><\/table>
<\/td><\/td><\/tr>
(1)<\/td>Prior year amounts have been updated to reflect the adoption of Accounting Standards Update No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. As a result of adoption, the Company reclassified cash inflows of $177 million, $281 million, $218 million and $132 million for the years ended May 31, 2017, 2016, 2015 and 2014, respectively, related to excess tax benefits from share-based payment awards, from Cash used by financing activities to Cash provided by operations. Additionally, the Company reclassified cash outflows of $29 million, $22 million, $8 million and $13 million for the years ended May 31, 2017, 2016, 2015 and 2014, respectively, related to tax payments for the net settlement of share-based payment awards, from Cash provided by operations to Cash used by financing activities within the Consolidated Statements of Cash Flows. Refer to Note 1 - Summary of Significant Accounting Policies for additional information.<\/td><\/tr><\/table>\n
<\/td><\/td><\/tr>
(2)<\/td>Certain fiscal 2018 financial ratios reflect the impact of the Tax Cuts and Jobs Act. Refer to Note 9 - Income Taxes for additional information.<\/td><\/tr><\/table>\n18\n\n\n\n"} +{"QID":"q_Ra010","Question":"How did Discover\u2019s Net Interest Margin for 2023 compare to the previous year?","ground_truth_answer":"In 2023, Discover\u2019s Net Interest Margin (NIM), representing net interest income as a percentage of average total loan receivables, increased to 11.07% from 11.04% in 2022, despite a disproportionate rise in interest expenses. ","question_type":"Ratio","page_number":"60, 61, 62","accession_number":"0001393612-24-000010","item":"Item 7. Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 60: \nEarnings Summary\n\nThe following table outlines changes in our consolidated statements of income (dollars in millions):| | | | | | | | | | | | | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:---------------------------------|:-------|:---------------------------------|:-------|:------|:---|:--------|:---|:-----|:--------|:--------|:-----|:---|:-----|:---|:--------|:-----|:---|\n| 1 | | For the Years Ended December 31, | | 2023 vs. 2022Increase (Decrease) | | 2022 vs. 2021Increase (Decrease) | | | | | | | | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | $ | % | | $ | % | | | | | | | | | |\n| 3 | Interest income | $ | 17,845 | | | $ | 12,864 | | $ | 10,651 | | $ | 4,981 | | 39 | % | | $ | 2,213 | 21 | % |\n| 4 | Interest expense | 4,746 | | | 1,865 | | | 1,134 | | 2,881 | | 154 | % | 731 | | | 64 | % | | | |\n| 5 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | 2,100 | | 19 | % | 1,482 | | | 16 | % | | | |\n| 6 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | 3,659 | | 155 | % | 2,141 | | | 982 | % | | | |\n| 7 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | (1,559) | | (18) | % | (659) | | | (7) | % | | | |\n| 8 | Other income | 2,761 | | | 2,294 | | | 2,534 | | 467 | | 20 | % | (240) | | | (9) | % | | | |\n| 9 | Other expense | 6,016 | | | 5,216 | | | 4,805 | | 800 | | 15 | % | 411 | | | 9 | % | | | |\n| 10 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | (1,892) | | (33) | % | (1,310) | | | (19) | % | | | |\n| 11 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | (458) | | (34) | % | (262) | | | (16) | % | | | |\n| 12 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 | | $ | (1,434) | | (33) | % | | $ | (1,048) | (19) | % |\n| 13 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 | | $ | (1,427) | | (33) | % | | $ | (1,037) | (19) | % |\n-60-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 61: \nNet Interest Income\n\nThe tables that follow this section have been provided to supplement the discussion below and provide further analysis of net interest income, net interest margin and the impact of rate and volume changes on net interest income. Net interest income represents the difference between interest income earned on our interest-earning assets and the interest expense incurred to finance those assets. We analyze net interest income in total by calculating net interest margin (net interest income as a percentage of average total loan receivables) and net yield on interest-earning assets (net interest income as a percentage of average total interest-earning assets). We also separately consider the impact of the level of loan receivables and the related interest yield and the impact of the cost of funds related to each of our funding sources, along with the income generated by our liquidity portfolio, on net interest income.\nOur interest-earning assets consist of: (i) cash and cash equivalents primarily related to amounts on deposit with the Federal Reserve Bank of Philadelphia, (ii) restricted cash, (iii) other short-term investments, (iv) investment securities and (v) loan receivables. Our interest-bearing liabilities consist primarily of deposits, both direct-to-consumer and brokered, and long-term borrowings, including amounts owed to securitization investors. The following factors influence net interest income:\n\u2022The level and composition of loan receivables, including the proportion of credit card loans to other loans, as well as the proportion of loan receivables bearing interest at promotional rates as compared to standard rates;\n\u2022The credit performance of our loans, particularly with regard to charge-offs of finance charges, which reduce interest income;\n\u2022The terms of long-term borrowings and certificates of deposit upon initial offering, including maturity and interest rate;\n\u2022The interest rates necessary to attract and maintain direct-to-consumer deposits;\n\u2022The level and composition of other interest-earning assets, including our liquidity portfolio, and interest-bearing liabilities;\n\u2022Changes in the interest rate environment, including the levels of interest rates and the relationships among interest rate indices, such as the prime rate, the federal funds rate, the interest rate on reserve balances, LIBOR and SOFR; and\n\u2022The effectiveness of interest rate swaps in our interest rate risk management program.\nNet interest income increased for the year ended December 31, 2023, as compared to the year ended December 31, 2022, primarily driven by a higher yield on loans and a higher average level of loan receivables, partially offset by higher funding costs. Interest income increased compared to the prior year primarily due to higher market rates and a higher average level of loan receivables. Interest expense increased compared to the prior year primarily due to higher funding costs driven by higher market rates and a larger funding base.\n-61-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 62: \nAverage Balance Sheet Analysis\n\n\n(dollars in millions)\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n|---:|:----------------------------------------------|:---------------------------------|:--------|:-----------|:------|:---------|:-------|:----------------|:--------|:-----------|:--------|:---------|:---|:----------------|:-------|:-----------|:-------|:---------|:--------|:--------|:----|:---|:------|:---|:-------|:-------|:-----|:---|:---|:----|\n| 1 | | For the Years Ended December 31, | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | |\n| 3 | | Average Balance | | Yield\/Rate | | Interest | | Average Balance | | Yield\/Rate | | Interest | | Average Balance | | Yield\/Rate | | Interest | | | | | | | | | | | | |\n| 4 | Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 5 | Interest-earning assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 6 | Cash and cash equivalents | $ | 8,192 | | | 5.17 | % | | $ | 423 | | | $ | 9,279 | | | 1.89 | % | | $ | 175 | | | $ | 14,236 | | 0.13 | % | $ | 18 |\n| 7 | Restricted cash | 250 | | | 7.80 | % | | 20 | | | 515 | | | 1.48 | % | | 8 | | | 695 | | | 0.03 | % | | NM | | | | |\n| 8 | Other short-term investments | - | | | - | | | - | | | - | | | - | | | - | | | 176 | | | 0.12 | % | | NM | | | | |\n| 9 | Investment securities | 12,938 | | | 3.47 | % | | 449 | | | 6,988 | | | 2.57 | % | | 179 | | | 8,713 | | | 2.09 | % | | 182 | | | | |\n| 10 | Loan receivables(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 11 | Credit card loans(2)(3) | 94,205 | | | 15.33 | % | | 14,438 | | | 79,243 | | | 13.42 | % | | 10,632 | | | 69,365 | | | 12.57 | % | | 8,717 | | | | |\n| 12 | Private student loans | 10,382 | | | 9.95 | % | | 1,033 | | | 10,240 | | | 8.11 | % | | 831 | | | 10,057 | | | 7.38 | % | | 742 | | | | |\n| 13 | Personal loans | 9,011 | | | 12.83 | % | | 1,156 | | | 7,295 | | | 11.95 | % | | 872 | | | 6,945 | | | 12.64 | % | | 878 | | | | |\n| 14 | Other | 4,713 | | | 6.92 | % | | 326 | | | 2,895 | | | 5.77 | % | | 167 | | | 2,054 | | | 5.57 | % | | 114 | | | | |\n| 15 | Total loan receivables | 118,311 | | | 14.33 | % | | 16,953 | | | 99,673 | | | 12.54 | % | | 12,502 | | | 88,421 | | | 11.82 | % | | 10,451 | | | | |\n| 16 | Total interest-earning assets | 139,691 | | | 12.77 | % | | 17,845 | | | 116,455 | | | 11.05 | % | | 12,864 | | | 112,241 | | | 9.49 | % | | 10,651 | | | | |\n| 17 | Allowance for credit losses | (7,936) | | | | | | | (6,820) | | | | | | | (7,351) | | | | | | | | | | | | | | |\n| 18 | Other assets | 6,938 | | | | | | | 6,070 | | | | | | | 6,237 | | | | | | | | | | | | | | |\n| 19 | Total assets(4) | $ | 138,693 | | | | | | | $ | 115,705 | | | | | | | $ | 111,127 | | | | | | | | | | | |\n| 20 | Liabilities and Stockholders' Equity | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 21 | Interest-bearing liabilities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 22 | Interest-bearing deposits | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 23 | Time deposits | $ | 38,220 | | | 3.89 | % | | $ | 1,485 | | | $ | 23,988 | | | 2.02 | % | | $ | 484 | | | $ | 23,928 | | 1.84 | % | $ | 440 |\n| 24 | Money market deposits | 8,143 | | | 4.16 | % | | 339 | | | 8,453 | | | 1.67 | % | | 141 | | | 8,142 | | | 0.53 | % | | 43 | | | | |\n| 25 | Other interest-bearing savings deposits | 51,366 | | | 4.01 | % | | 2,062 | | | 44,276 | | | 1.43 | % | | 632 | | | 40,912 | | | 0.43 | % | | 178 | | | | |\n| 26 | Total interest-bearing deposits | 97,729 | | | 3.98 | % | | 3,886 | | | 76,717 | | | 1.64 | % | | 1,257 | | | 72,982 | | | 0.91 | % | | 661 | | | | |\n| 27 | Borrowings | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 28 | Short-term borrowings | 44 | | | 10.21 | % | | 5 | | | 225 | | | 0.70 | % | | 2 | | | 72 | | | 0.18 | % | | NM | | | | |\n| 29 | Securitized borrowings(5)(6)(7) | 10,528 | | | 4.30 | % | | 453 | | | 9,060 | | | 2.41 | % | | 219 | | | 9,627 | | | 1.06 | % | | 102 | | | | |\n| 30 | Other long-term borrowings(6)(7)(8) | 9,090 | | | 4.43 | % | | 402 | | | 9,334 | | | 4.15 | % | | 387 | | | 9,888 | | | 3.75 | % | | 371 | | | | |\n| 31 | Total borrowings | 19,662 | | | 4.37 | % | | 860 | | | 18,619 | | | 3.26 | % | | 608 | | | 19,587 | | | 2.42 | % | | 473 | | | | |\n| 32 | Total interest-bearing liabilities | 117,391 | | | 4.04 | % | | 4,746 | | | 95,336 | | | 1.96 | % | | 1,865 | | | 92,569 | | | 1.23 | % | | 1,134 | | | | |\n| 33 | Other liabilities and stockholders' equity(9) | 21,302 | | | | | | | 20,369 | | | | | | | 18,558 | | | | | | | | | | | | | | |\n| 34 | Total liabilities and stockholders' equity | $ | 138,693 | | | | | | | $ | 115,705 | | | | | | | $ | 111,127 | | | | | | | | | | | |\n| 35 | Net interest income | | | | | $ | 13,099 | | | | | | | $ | 10,999 | | | | | | | $ | 9,517 | | | | | | | |\n| 36 | Net interest margin(10) | | | 11.07 | % | | | | | | 11.04 | % | | | | | | 10.76 | % | | | | | | | | | | | |\n| 37 | Net yield on interest-earning assets(11) | | | 9.38 | % | | | | | | 9.45 | % | | | | | | 8.48 | % | | | | | | | | | | | |\n| 38 | Interest rate spread(12) | | | 8.73 | % | | | | | | 9.09 | % | | | | | | 8.26 | % | | | | | | | | | | | |\n(1)Average balances of loan receivables and yield calculations include non-accruing loans. If the non-accruing loan balances were excluded, there would not be a material impact on the amounts reported above. \n(2)Interest income on credit card loans includes $468 million, $365 million and $295 million of amortization of balance transfer fees for the years ended December 31, 2023, 2022 and 2021, respectively.\n(3)Includes the impact of interest rate swap agreements used to change a portion of floating-rate assets to fixed-rate assets for the years ended December 31, 2023, 2022 and 2021.\n(4)The return on average assets, based on net income, was 2.12%, 3.80% and 4.90% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(5)Includes the impact of one terminated derivative formerly designated as a cash flow hedge for the years ended December 31, 2023, 2022 and 2021.\n(6)Includes the impact of interest rate swap agreements used to change a portion of fixed-rate funding to floating-rate funding for the years ended December 31, 2023, 2022 and 2021.\n(7)Includes the impact of terminated derivatives formerly designated as fair value hedges for the years ended December 31, 2023, 2022 and 2021.\n(8)Includes the impact of interest rate swap agreements used to change a portion of floating-rate funding to fixed-rate funding for the years ended December 31, 2023 and 2022.\n(9)The return on average stockholders' equity, based on net income, was 21.00%, 32.00% and 43.12% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(10)Net interest margin represents net interest income as a percentage of average total loan receivables.\n(11)Net yield on interest-earning assets represents net interest income as a percentage of average total interest-earning assets.\n(12)Interest rate spread represents the difference between the rate on total interest-earning assets and the rate on total interest-bearing liabilities.\n-62-\n\n\n\n\n","context_markdown_without_headers":"\nEarnings Summary\n\nThe following table outlines changes in our consolidated statements of income (dollars in millions):| | | | | | | | | | | | | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:---------------------------------|:-------|:---------------------------------|:-------|:------|:---|:--------|:---|:-----|:--------|:--------|:-----|:---|:-----|:---|:--------|:-----|:---|\n| 1 | | For the Years Ended December 31, | | 2023 vs. 2022Increase (Decrease) | | 2022 vs. 2021Increase (Decrease) | | | | | | | | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | $ | % | | $ | % | | | | | | | | | |\n| 3 | Interest income | $ | 17,845 | | | $ | 12,864 | | $ | 10,651 | | $ | 4,981 | | 39 | % | | $ | 2,213 | 21 | % |\n| 4 | Interest expense | 4,746 | | | 1,865 | | | 1,134 | | 2,881 | | 154 | % | 731 | | | 64 | % | | | |\n| 5 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | 2,100 | | 19 | % | 1,482 | | | 16 | % | | | |\n| 6 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | 3,659 | | 155 | % | 2,141 | | | 982 | % | | | |\n| 7 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | (1,559) | | (18) | % | (659) | | | (7) | % | | | |\n| 8 | Other income | 2,761 | | | 2,294 | | | 2,534 | | 467 | | 20 | % | (240) | | | (9) | % | | | |\n| 9 | Other expense | 6,016 | | | 5,216 | | | 4,805 | | 800 | | 15 | % | 411 | | | 9 | % | | | |\n| 10 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | (1,892) | | (33) | % | (1,310) | | | (19) | % | | | |\n| 11 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | (458) | | (34) | % | (262) | | | (16) | % | | | |\n| 12 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 | | $ | (1,434) | | (33) | % | | $ | (1,048) | (19) | % |\n| 13 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 | | $ | (1,427) | | (33) | % | | $ | (1,037) | (19) | % |\n-60-\n\n\n\n\n, \nNet Interest Income\n\nThe tables that follow this section have been provided to supplement the discussion below and provide further analysis of net interest income, net interest margin and the impact of rate and volume changes on net interest income. Net interest income represents the difference between interest income earned on our interest-earning assets and the interest expense incurred to finance those assets. We analyze net interest income in total by calculating net interest margin (net interest income as a percentage of average total loan receivables) and net yield on interest-earning assets (net interest income as a percentage of average total interest-earning assets). We also separately consider the impact of the level of loan receivables and the related interest yield and the impact of the cost of funds related to each of our funding sources, along with the income generated by our liquidity portfolio, on net interest income.\nOur interest-earning assets consist of: (i) cash and cash equivalents primarily related to amounts on deposit with the Federal Reserve Bank of Philadelphia, (ii) restricted cash, (iii) other short-term investments, (iv) investment securities and (v) loan receivables. Our interest-bearing liabilities consist primarily of deposits, both direct-to-consumer and brokered, and long-term borrowings, including amounts owed to securitization investors. The following factors influence net interest income:\n\u2022The level and composition of loan receivables, including the proportion of credit card loans to other loans, as well as the proportion of loan receivables bearing interest at promotional rates as compared to standard rates;\n\u2022The credit performance of our loans, particularly with regard to charge-offs of finance charges, which reduce interest income;\n\u2022The terms of long-term borrowings and certificates of deposit upon initial offering, including maturity and interest rate;\n\u2022The interest rates necessary to attract and maintain direct-to-consumer deposits;\n\u2022The level and composition of other interest-earning assets, including our liquidity portfolio, and interest-bearing liabilities;\n\u2022Changes in the interest rate environment, including the levels of interest rates and the relationships among interest rate indices, such as the prime rate, the federal funds rate, the interest rate on reserve balances, LIBOR and SOFR; and\n\u2022The effectiveness of interest rate swaps in our interest rate risk management program.\nNet interest income increased for the year ended December 31, 2023, as compared to the year ended December 31, 2022, primarily driven by a higher yield on loans and a higher average level of loan receivables, partially offset by higher funding costs. Interest income increased compared to the prior year primarily due to higher market rates and a higher average level of loan receivables. Interest expense increased compared to the prior year primarily due to higher funding costs driven by higher market rates and a larger funding base.\n-61-\n\n\n\n\n, \nAverage Balance Sheet Analysis\n\n\n(dollars in millions)\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n|---:|:----------------------------------------------|:---------------------------------|:--------|:-----------|:------|:---------|:-------|:----------------|:--------|:-----------|:--------|:---------|:---|:----------------|:-------|:-----------|:-------|:---------|:--------|:--------|:----|:---|:------|:---|:-------|:-------|:-----|:---|:---|:----|\n| 1 | | For the Years Ended December 31, | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | |\n| 3 | | Average Balance | | Yield\/Rate | | Interest | | Average Balance | | Yield\/Rate | | Interest | | Average Balance | | Yield\/Rate | | Interest | | | | | | | | | | | | |\n| 4 | Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 5 | Interest-earning assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 6 | Cash and cash equivalents | $ | 8,192 | | | 5.17 | % | | $ | 423 | | | $ | 9,279 | | | 1.89 | % | | $ | 175 | | | $ | 14,236 | | 0.13 | % | $ | 18 |\n| 7 | Restricted cash | 250 | | | 7.80 | % | | 20 | | | 515 | | | 1.48 | % | | 8 | | | 695 | | | 0.03 | % | | NM | | | | |\n| 8 | Other short-term investments | - | | | - | | | - | | | - | | | - | | | - | | | 176 | | | 0.12 | % | | NM | | | | |\n| 9 | Investment securities | 12,938 | | | 3.47 | % | | 449 | | | 6,988 | | | 2.57 | % | | 179 | | | 8,713 | | | 2.09 | % | | 182 | | | | |\n| 10 | Loan receivables(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 11 | Credit card loans(2)(3) | 94,205 | | | 15.33 | % | | 14,438 | | | 79,243 | | | 13.42 | % | | 10,632 | | | 69,365 | | | 12.57 | % | | 8,717 | | | | |\n| 12 | Private student loans | 10,382 | | | 9.95 | % | | 1,033 | | | 10,240 | | | 8.11 | % | | 831 | | | 10,057 | | | 7.38 | % | | 742 | | | | |\n| 13 | Personal loans | 9,011 | | | 12.83 | % | | 1,156 | | | 7,295 | | | 11.95 | % | | 872 | | | 6,945 | | | 12.64 | % | | 878 | | | | |\n| 14 | Other | 4,713 | | | 6.92 | % | | 326 | | | 2,895 | | | 5.77 | % | | 167 | | | 2,054 | | | 5.57 | % | | 114 | | | | |\n| 15 | Total loan receivables | 118,311 | | | 14.33 | % | | 16,953 | | | 99,673 | | | 12.54 | % | | 12,502 | | | 88,421 | | | 11.82 | % | | 10,451 | | | | |\n| 16 | Total interest-earning assets | 139,691 | | | 12.77 | % | | 17,845 | | | 116,455 | | | 11.05 | % | | 12,864 | | | 112,241 | | | 9.49 | % | | 10,651 | | | | |\n| 17 | Allowance for credit losses | (7,936) | | | | | | | (6,820) | | | | | | | (7,351) | | | | | | | | | | | | | | |\n| 18 | Other assets | 6,938 | | | | | | | 6,070 | | | | | | | 6,237 | | | | | | | | | | | | | | |\n| 19 | Total assets(4) | $ | 138,693 | | | | | | | $ | 115,705 | | | | | | | $ | 111,127 | | | | | | | | | | | |\n| 20 | Liabilities and Stockholders' Equity | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 21 | Interest-bearing liabilities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 22 | Interest-bearing deposits | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 23 | Time deposits | $ | 38,220 | | | 3.89 | % | | $ | 1,485 | | | $ | 23,988 | | | 2.02 | % | | $ | 484 | | | $ | 23,928 | | 1.84 | % | $ | 440 |\n| 24 | Money market deposits | 8,143 | | | 4.16 | % | | 339 | | | 8,453 | | | 1.67 | % | | 141 | | | 8,142 | | | 0.53 | % | | 43 | | | | |\n| 25 | Other interest-bearing savings deposits | 51,366 | | | 4.01 | % | | 2,062 | | | 44,276 | | | 1.43 | % | | 632 | | | 40,912 | | | 0.43 | % | | 178 | | | | |\n| 26 | Total interest-bearing deposits | 97,729 | | | 3.98 | % | | 3,886 | | | 76,717 | | | 1.64 | % | | 1,257 | | | 72,982 | | | 0.91 | % | | 661 | | | | |\n| 27 | Borrowings | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 28 | Short-term borrowings | 44 | | | 10.21 | % | | 5 | | | 225 | | | 0.70 | % | | 2 | | | 72 | | | 0.18 | % | | NM | | | | |\n| 29 | Securitized borrowings(5)(6)(7) | 10,528 | | | 4.30 | % | | 453 | | | 9,060 | | | 2.41 | % | | 219 | | | 9,627 | | | 1.06 | % | | 102 | | | | |\n| 30 | Other long-term borrowings(6)(7)(8) | 9,090 | | | 4.43 | % | | 402 | | | 9,334 | | | 4.15 | % | | 387 | | | 9,888 | | | 3.75 | % | | 371 | | | | |\n| 31 | Total borrowings | 19,662 | | | 4.37 | % | | 860 | | | 18,619 | | | 3.26 | % | | 608 | | | 19,587 | | | 2.42 | % | | 473 | | | | |\n| 32 | Total interest-bearing liabilities | 117,391 | | | 4.04 | % | | 4,746 | | | 95,336 | | | 1.96 | % | | 1,865 | | | 92,569 | | | 1.23 | % | | 1,134 | | | | |\n| 33 | Other liabilities and stockholders' equity(9) | 21,302 | | | | | | | 20,369 | | | | | | | 18,558 | | | | | | | | | | | | | | |\n| 34 | Total liabilities and stockholders' equity | $ | 138,693 | | | | | | | $ | 115,705 | | | | | | | $ | 111,127 | | | | | | | | | | | |\n| 35 | Net interest income | | | | | $ | 13,099 | | | | | | | $ | 10,999 | | | | | | | $ | 9,517 | | | | | | | |\n| 36 | Net interest margin(10) | | | 11.07 | % | | | | | | 11.04 | % | | | | | | 10.76 | % | | | | | | | | | | | |\n| 37 | Net yield on interest-earning assets(11) | | | 9.38 | % | | | | | | 9.45 | % | | | | | | 8.48 | % | | | | | | | | | | | |\n| 38 | Interest rate spread(12) | | | 8.73 | % | | | | | | 9.09 | % | | | | | | 8.26 | % | | | | | | | | | | | |\n(1)Average balances of loan receivables and yield calculations include non-accruing loans. If the non-accruing loan balances were excluded, there would not be a material impact on the amounts reported above. \n(2)Interest income on credit card loans includes $468 million, $365 million and $295 million of amortization of balance transfer fees for the years ended December 31, 2023, 2022 and 2021, respectively.\n(3)Includes the impact of interest rate swap agreements used to change a portion of floating-rate assets to fixed-rate assets for the years ended December 31, 2023, 2022 and 2021.\n(4)The return on average assets, based on net income, was 2.12%, 3.80% and 4.90% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(5)Includes the impact of one terminated derivative formerly designated as a cash flow hedge for the years ended December 31, 2023, 2022 and 2021.\n(6)Includes the impact of interest rate swap agreements used to change a portion of fixed-rate funding to floating-rate funding for the years ended December 31, 2023, 2022 and 2021.\n(7)Includes the impact of terminated derivatives formerly designated as fair value hedges for the years ended December 31, 2023, 2022 and 2021.\n(8)Includes the impact of interest rate swap agreements used to change a portion of floating-rate funding to fixed-rate funding for the years ended December 31, 2023 and 2022.\n(9)The return on average stockholders' equity, based on net income, was 21.00%, 32.00% and 43.12% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(10)Net interest margin represents net interest income as a percentage of average total loan receivables.\n(11)Net yield on interest-earning assets represents net interest income as a percentage of average total interest-earning assets.\n(12)Interest rate spread represents the difference between the rate on total interest-earning assets and the rate on total interest-bearing liabilities.\n-62-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 60: \nEarnings Summary\n\nThe following table outlines changes in our consolidated statements of income (dollars in millions):
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/td>2023 vs. 2022Increase (Decrease)<\/td><\/td>2022 vs. 2021Increase (Decrease)<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/td>$<\/td><\/td>%<\/td><\/td>$<\/td><\/td>%<\/td><\/tr>
Interest income<\/td>$<\/td>17,845 <\/td><\/td><\/td>$<\/td>12,864 <\/td><\/td><\/td>$<\/td>10,651 <\/td><\/td><\/td>$<\/td>4,981 <\/td><\/td><\/td>39 <\/td>%<\/td><\/td>$<\/td>2,213 <\/td><\/td><\/td>21 <\/td>%<\/td><\/tr>
Interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/td>2,881 <\/td><\/td><\/td>154 <\/td>%<\/td><\/td>731 <\/td><\/td><\/td>64 <\/td>%<\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/td>2,100 <\/td><\/td><\/td>19 <\/td>%<\/td><\/td>1,482 <\/td><\/td><\/td>16 <\/td>%<\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/td>3,659 <\/td><\/td><\/td>155 <\/td>%<\/td><\/td>2,141 <\/td><\/td><\/td>982 <\/td>%<\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/td>(1,559)<\/td><\/td><\/td>(18)<\/td>%<\/td><\/td>(659)<\/td><\/td><\/td>(7)<\/td>%<\/td><\/tr>
Other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/td>467 <\/td><\/td><\/td>20 <\/td>%<\/td><\/td>(240)<\/td><\/td><\/td>(9)<\/td>%<\/td><\/tr>
Other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/td>800 <\/td><\/td><\/td>15 <\/td>%<\/td><\/td>411 <\/td><\/td><\/td>9 <\/td>%<\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/td>(1,892)<\/td><\/td><\/td>(33)<\/td>%<\/td><\/td>(1,310)<\/td><\/td><\/td>(19)<\/td>%<\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/td>(458)<\/td><\/td><\/td>(34)<\/td>%<\/td><\/td>(262)<\/td><\/td><\/td>(16)<\/td>%<\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/td>$<\/td>(1,434)<\/td><\/td><\/td>(33)<\/td>%<\/td><\/td>$<\/td>(1,048)<\/td><\/td><\/td>(19)<\/td>%<\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/td>$<\/td>(1,427)<\/td><\/td><\/td>(33)<\/td>%<\/td><\/td>$<\/td>(1,037)<\/td><\/td><\/td>(19)<\/td>%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>-60-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 61: \nNet Interest Income\n\nThe tables that follow this section have been provided to supplement the discussion below and provide further analysis of net interest income, net interest margin and the impact of rate and volume changes on net interest income. Net interest income represents the difference between interest income earned on our interest-earning assets and the interest expense incurred to finance those assets. We analyze net interest income in total by calculating net interest margin (net interest income as a percentage of average total loan receivables) and net yield on interest-earning assets (net interest income as a percentage of average total interest-earning assets). We also separately consider the impact of the level of loan receivables and the related interest yield and the impact of the cost of funds related to each of our funding sources, along with the income generated by our liquidity portfolio, on net interest income.\nOur interest-earning assets consist of: (i) cash and cash equivalents primarily related to amounts on deposit with the Federal Reserve Bank of Philadelphia, (ii) restricted cash, (iii) other short-term investments, (iv) investment securities and (v) loan receivables. Our interest-bearing liabilities consist primarily of deposits, both direct-to-consumer and brokered, and long-term borrowings, including amounts owed to securitization investors. The following factors influence net interest income:\n\u2022The level and composition of loan receivables, including the proportion of credit card loans to other loans, as well as the proportion of loan receivables bearing interest at promotional rates as compared to standard rates;\n\u2022The credit performance of our loans, particularly with regard to charge-offs of finance charges, which reduce interest income;\n\u2022The terms of long-term borrowings and certificates of deposit upon initial offering, including maturity and interest rate;\n\u2022The interest rates necessary to attract and maintain direct-to-consumer deposits;\n\u2022The level and composition of other interest-earning assets, including our liquidity portfolio, and interest-bearing liabilities;\n\u2022Changes in the interest rate environment, including the levels of interest rates and the relationships among interest rate indices, such as the prime rate, the federal funds rate, the interest rate on reserve balances, LIBOR and SOFR; and\n\u2022The effectiveness of interest rate swaps in our interest rate risk management program.\nNet interest income increased for the year ended December 31, 2023, as compared to the year ended December 31, 2022, primarily driven by a higher yield on loans and a higher average level of loan receivables, partially offset by higher funding costs. Interest income increased compared to the prior year primarily due to higher market rates and a higher average level of loan receivables. Interest expense increased compared to the prior year primarily due to higher funding costs driven by higher market rates and a larger funding base.\n-61-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 62: \nAverage Balance Sheet Analysis\n\n\n(dollars in millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
<\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-earning assets<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>8,192 <\/td><\/td><\/td>5.17 <\/td>%<\/td><\/td>$<\/td>423 <\/td><\/td><\/td>$<\/td>9,279 <\/td><\/td><\/td>1.89 <\/td>%<\/td><\/td>$<\/td>175 <\/td><\/td><\/td>$<\/td>14,236 <\/td><\/td><\/td>0.13 <\/td>%<\/td><\/td>$<\/td>18 <\/td><\/td><\/tr>
Restricted cash<\/td>250 <\/td><\/td><\/td>7.80 <\/td>%<\/td><\/td>20 <\/td><\/td><\/td>515 <\/td><\/td><\/td>1.48 <\/td>%<\/td><\/td>8 <\/td><\/td><\/td>695 <\/td><\/td><\/td>0.03 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Other short-term investments<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>0.12 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Investment securities<\/td>12,938 <\/td><\/td><\/td>3.47 <\/td>%<\/td><\/td>449 <\/td><\/td><\/td>6,988 <\/td><\/td><\/td>2.57 <\/td>%<\/td><\/td>179 <\/td><\/td><\/td>8,713 <\/td><\/td><\/td>2.09 <\/td>%<\/td><\/td>182 <\/td><\/td><\/tr>
Loan receivables(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans(2)(3)<\/td>94,205 <\/td><\/td><\/td>15.33 <\/td>%<\/td><\/td>14,438 <\/td><\/td><\/td>79,243 <\/td><\/td><\/td>13.42 <\/td>%<\/td><\/td>10,632 <\/td><\/td><\/td>69,365 <\/td><\/td><\/td>12.57 <\/td>%<\/td><\/td>8,717 <\/td><\/td><\/tr>
Private student loans<\/td>10,382 <\/td><\/td><\/td>9.95 <\/td>%<\/td><\/td>1,033 <\/td><\/td><\/td>10,240 <\/td><\/td><\/td>8.11 <\/td>%<\/td><\/td>831 <\/td><\/td><\/td>10,057 <\/td><\/td><\/td>7.38 <\/td>%<\/td><\/td>742 <\/td><\/td><\/tr>
Personal loans<\/td>9,011 <\/td><\/td><\/td>12.83 <\/td>%<\/td><\/td>1,156 <\/td><\/td><\/td>7,295 <\/td><\/td><\/td>11.95 <\/td>%<\/td><\/td>872 <\/td><\/td><\/td>6,945 <\/td><\/td><\/td>12.64 <\/td>%<\/td><\/td>878 <\/td><\/td><\/tr>
Other<\/td>4,713 <\/td><\/td><\/td>6.92 <\/td>%<\/td><\/td>326 <\/td><\/td><\/td>2,895 <\/td><\/td><\/td>5.77 <\/td>%<\/td><\/td>167 <\/td><\/td><\/td>2,054 <\/td><\/td><\/td>5.57 <\/td>%<\/td><\/td>114 <\/td><\/td><\/tr>
Total loan receivables<\/td>118,311 <\/td><\/td><\/td>14.33 <\/td>%<\/td><\/td>16,953 <\/td><\/td><\/td>99,673 <\/td><\/td><\/td>12.54 <\/td>%<\/td><\/td>12,502 <\/td><\/td><\/td>88,421 <\/td><\/td><\/td>11.82 <\/td>%<\/td><\/td>10,451 <\/td><\/td><\/tr>
Total interest-earning assets<\/td>139,691 <\/td><\/td><\/td>12.77 <\/td>%<\/td><\/td>17,845 <\/td><\/td><\/td>116,455 <\/td><\/td><\/td>11.05 <\/td>%<\/td><\/td>12,864 <\/td><\/td><\/td>112,241 <\/td><\/td><\/td>9.49 <\/td>%<\/td><\/td>10,651 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(7,936)<\/td><\/td><\/td><\/td><\/td><\/td><\/td>(6,820)<\/td><\/td><\/td><\/td><\/td><\/td><\/td>(7,351)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>6,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>6,070 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>6,237 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total assets(4)<\/td>$<\/td>138,693 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>115,705 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>111,127 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-bearing liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposits<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Time deposits<\/td>$<\/td>38,220 <\/td><\/td><\/td>3.89 <\/td>%<\/td><\/td>$<\/td>1,485 <\/td><\/td><\/td>$<\/td>23,988 <\/td><\/td><\/td>2.02 <\/td>%<\/td><\/td>$<\/td>484 <\/td><\/td><\/td>$<\/td>23,928 <\/td><\/td><\/td>1.84 <\/td>%<\/td><\/td>$<\/td>440 <\/td><\/td><\/tr>
Money market deposits<\/td>8,143 <\/td><\/td><\/td>4.16 <\/td>%<\/td><\/td>339 <\/td><\/td><\/td>8,453 <\/td><\/td><\/td>1.67 <\/td>%<\/td><\/td>141 <\/td><\/td><\/td>8,142 <\/td><\/td><\/td>0.53 <\/td>%<\/td><\/td>43 <\/td><\/td><\/tr>
Other interest-bearing savings deposits<\/td>51,366 <\/td><\/td><\/td>4.01 <\/td>%<\/td><\/td>2,062 <\/td><\/td><\/td>44,276 <\/td><\/td><\/td>1.43 <\/td>%<\/td><\/td>632 <\/td><\/td><\/td>40,912 <\/td><\/td><\/td>0.43 <\/td>%<\/td><\/td>178 <\/td><\/td><\/tr>
Total interest-bearing deposits<\/td>97,729 <\/td><\/td><\/td>3.98 <\/td>%<\/td><\/td>3,886 <\/td><\/td><\/td>76,717 <\/td><\/td><\/td>1.64 <\/td>%<\/td><\/td>1,257 <\/td><\/td><\/td>72,982 <\/td><\/td><\/td>0.91 <\/td>%<\/td><\/td>661 <\/td><\/td><\/tr>
Borrowings<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Short-term borrowings<\/td>44 <\/td><\/td><\/td>10.21 <\/td>%<\/td><\/td>5 <\/td><\/td><\/td>225 <\/td><\/td><\/td>0.70 <\/td>%<\/td><\/td>2 <\/td><\/td><\/td>72 <\/td><\/td><\/td>0.18 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Securitized borrowings(5)(6)(7)<\/td>10,528 <\/td><\/td><\/td>4.30 <\/td>%<\/td><\/td>453 <\/td><\/td><\/td>9,060 <\/td><\/td><\/td>2.41 <\/td>%<\/td><\/td>219 <\/td><\/td><\/td>9,627 <\/td><\/td><\/td>1.06 <\/td>%<\/td><\/td>102 <\/td><\/td><\/tr>
Other long-term borrowings(6)(7)(8)<\/td>9,090 <\/td><\/td><\/td>4.43 <\/td>%<\/td><\/td>402 <\/td><\/td><\/td>9,334 <\/td><\/td><\/td>4.15 <\/td>%<\/td><\/td>387 <\/td><\/td><\/td>9,888 <\/td><\/td><\/td>3.75 <\/td>%<\/td><\/td>371 <\/td><\/td><\/tr>
Total borrowings<\/td>19,662 <\/td><\/td><\/td>4.37 <\/td>%<\/td><\/td>860 <\/td><\/td><\/td>18,619 <\/td><\/td><\/td>3.26 <\/td>%<\/td><\/td>608 <\/td><\/td><\/td>19,587 <\/td><\/td><\/td>2.42 <\/td>%<\/td><\/td>473 <\/td><\/td><\/tr>
Total interest-bearing liabilities<\/td>117,391 <\/td><\/td><\/td>4.04 <\/td>%<\/td><\/td>4,746 <\/td><\/td><\/td>95,336 <\/td><\/td><\/td>1.96 <\/td>%<\/td><\/td>1,865 <\/td><\/td><\/td>92,569 <\/td><\/td><\/td>1.23 <\/td>%<\/td><\/td>1,134 <\/td><\/td><\/tr>
Other liabilities and stockholders' equity(9)<\/td>21,302 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>20,369 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>18,558 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>138,693 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>115,705 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>111,127 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td><\/td><\/td><\/td><\/td>$<\/td>13,099 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>10,999 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>9,517 <\/td><\/td><\/tr>
Net interest margin(10)<\/td><\/td><\/td>11.07 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>11.04 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>10.76 <\/td>%<\/td><\/td><\/td><\/tr>
Net yield on interest-earning assets(11)<\/td><\/td><\/td>9.38 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>9.45 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>8.48 <\/td>%<\/td><\/td><\/td><\/tr>
Interest rate spread(12)<\/td><\/td><\/td>8.73 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>9.09 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>8.26 <\/td>%<\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Average balances of loan receivables and yield calculations include non-accruing loans. If the non-accruing loan balances were excluded, there would not be a material impact on the amounts reported above. \n(2)Interest income on credit card loans includes $468 million, $365 million and $295 million of amortization of balance transfer fees for the years ended December 31, 2023, 2022 and 2021, respectively.\n(3)Includes the impact of interest rate swap agreements used to change a portion of floating-rate assets to fixed-rate assets for the years ended December 31, 2023, 2022 and 2021.\n(4)The return on average assets, based on net income, was 2.12%, 3.80% and 4.90% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(5)Includes the impact of one terminated derivative formerly designated as a cash flow hedge for the years ended December 31, 2023, 2022 and 2021.\n(6)Includes the impact of interest rate swap agreements used to change a portion of fixed-rate funding to floating-rate funding for the years ended December 31, 2023, 2022 and 2021.\n(7)Includes the impact of terminated derivatives formerly designated as fair value hedges for the years ended December 31, 2023, 2022 and 2021.\n(8)Includes the impact of interest rate swap agreements used to change a portion of floating-rate funding to fixed-rate funding for the years ended December 31, 2023 and 2022.\n(9)The return on average stockholders' equity, based on net income, was 21.00%, 32.00% and 43.12% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(10)Net interest margin represents net interest income as a percentage of average total loan receivables.\n(11)Net yield on interest-earning assets represents net interest income as a percentage of average total interest-earning assets.\n(12)Interest rate spread represents the difference between the rate on total interest-earning assets and the rate on total interest-bearing liabilities.\n-62-\n\n\n\n\n","context_html_without_headers":"\nEarnings Summary\n\nThe following table outlines changes in our consolidated statements of income (dollars in millions):
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/td>2023 vs. 2022Increase (Decrease)<\/td><\/td>2022 vs. 2021Increase (Decrease)<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/td>$<\/td><\/td>%<\/td><\/td>$<\/td><\/td>%<\/td><\/tr>
Interest income<\/td>$<\/td>17,845 <\/td><\/td><\/td>$<\/td>12,864 <\/td><\/td><\/td>$<\/td>10,651 <\/td><\/td><\/td>$<\/td>4,981 <\/td><\/td><\/td>39 <\/td>%<\/td><\/td>$<\/td>2,213 <\/td><\/td><\/td>21 <\/td>%<\/td><\/tr>
Interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/td>2,881 <\/td><\/td><\/td>154 <\/td>%<\/td><\/td>731 <\/td><\/td><\/td>64 <\/td>%<\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/td>2,100 <\/td><\/td><\/td>19 <\/td>%<\/td><\/td>1,482 <\/td><\/td><\/td>16 <\/td>%<\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/td>3,659 <\/td><\/td><\/td>155 <\/td>%<\/td><\/td>2,141 <\/td><\/td><\/td>982 <\/td>%<\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/td>(1,559)<\/td><\/td><\/td>(18)<\/td>%<\/td><\/td>(659)<\/td><\/td><\/td>(7)<\/td>%<\/td><\/tr>
Other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/td>467 <\/td><\/td><\/td>20 <\/td>%<\/td><\/td>(240)<\/td><\/td><\/td>(9)<\/td>%<\/td><\/tr>
Other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/td>800 <\/td><\/td><\/td>15 <\/td>%<\/td><\/td>411 <\/td><\/td><\/td>9 <\/td>%<\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/td>(1,892)<\/td><\/td><\/td>(33)<\/td>%<\/td><\/td>(1,310)<\/td><\/td><\/td>(19)<\/td>%<\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/td>(458)<\/td><\/td><\/td>(34)<\/td>%<\/td><\/td>(262)<\/td><\/td><\/td>(16)<\/td>%<\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/td>$<\/td>(1,434)<\/td><\/td><\/td>(33)<\/td>%<\/td><\/td>$<\/td>(1,048)<\/td><\/td><\/td>(19)<\/td>%<\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/td>$<\/td>(1,427)<\/td><\/td><\/td>(33)<\/td>%<\/td><\/td>$<\/td>(1,037)<\/td><\/td><\/td>(19)<\/td>%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>-60-\n\n\n\n\n, \nNet Interest Income\n\nThe tables that follow this section have been provided to supplement the discussion below and provide further analysis of net interest income, net interest margin and the impact of rate and volume changes on net interest income. Net interest income represents the difference between interest income earned on our interest-earning assets and the interest expense incurred to finance those assets. We analyze net interest income in total by calculating net interest margin (net interest income as a percentage of average total loan receivables) and net yield on interest-earning assets (net interest income as a percentage of average total interest-earning assets). We also separately consider the impact of the level of loan receivables and the related interest yield and the impact of the cost of funds related to each of our funding sources, along with the income generated by our liquidity portfolio, on net interest income.\nOur interest-earning assets consist of: (i) cash and cash equivalents primarily related to amounts on deposit with the Federal Reserve Bank of Philadelphia, (ii) restricted cash, (iii) other short-term investments, (iv) investment securities and (v) loan receivables. Our interest-bearing liabilities consist primarily of deposits, both direct-to-consumer and brokered, and long-term borrowings, including amounts owed to securitization investors. The following factors influence net interest income:\n\u2022The level and composition of loan receivables, including the proportion of credit card loans to other loans, as well as the proportion of loan receivables bearing interest at promotional rates as compared to standard rates;\n\u2022The credit performance of our loans, particularly with regard to charge-offs of finance charges, which reduce interest income;\n\u2022The terms of long-term borrowings and certificates of deposit upon initial offering, including maturity and interest rate;\n\u2022The interest rates necessary to attract and maintain direct-to-consumer deposits;\n\u2022The level and composition of other interest-earning assets, including our liquidity portfolio, and interest-bearing liabilities;\n\u2022Changes in the interest rate environment, including the levels of interest rates and the relationships among interest rate indices, such as the prime rate, the federal funds rate, the interest rate on reserve balances, LIBOR and SOFR; and\n\u2022The effectiveness of interest rate swaps in our interest rate risk management program.\nNet interest income increased for the year ended December 31, 2023, as compared to the year ended December 31, 2022, primarily driven by a higher yield on loans and a higher average level of loan receivables, partially offset by higher funding costs. Interest income increased compared to the prior year primarily due to higher market rates and a higher average level of loan receivables. Interest expense increased compared to the prior year primarily due to higher funding costs driven by higher market rates and a larger funding base.\n-61-\n\n\n\n\n, \nAverage Balance Sheet Analysis\n\n\n(dollars in millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
<\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-earning assets<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>8,192 <\/td><\/td><\/td>5.17 <\/td>%<\/td><\/td>$<\/td>423 <\/td><\/td><\/td>$<\/td>9,279 <\/td><\/td><\/td>1.89 <\/td>%<\/td><\/td>$<\/td>175 <\/td><\/td><\/td>$<\/td>14,236 <\/td><\/td><\/td>0.13 <\/td>%<\/td><\/td>$<\/td>18 <\/td><\/td><\/tr>
Restricted cash<\/td>250 <\/td><\/td><\/td>7.80 <\/td>%<\/td><\/td>20 <\/td><\/td><\/td>515 <\/td><\/td><\/td>1.48 <\/td>%<\/td><\/td>8 <\/td><\/td><\/td>695 <\/td><\/td><\/td>0.03 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Other short-term investments<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>0.12 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Investment securities<\/td>12,938 <\/td><\/td><\/td>3.47 <\/td>%<\/td><\/td>449 <\/td><\/td><\/td>6,988 <\/td><\/td><\/td>2.57 <\/td>%<\/td><\/td>179 <\/td><\/td><\/td>8,713 <\/td><\/td><\/td>2.09 <\/td>%<\/td><\/td>182 <\/td><\/td><\/tr>
Loan receivables(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans(2)(3)<\/td>94,205 <\/td><\/td><\/td>15.33 <\/td>%<\/td><\/td>14,438 <\/td><\/td><\/td>79,243 <\/td><\/td><\/td>13.42 <\/td>%<\/td><\/td>10,632 <\/td><\/td><\/td>69,365 <\/td><\/td><\/td>12.57 <\/td>%<\/td><\/td>8,717 <\/td><\/td><\/tr>
Private student loans<\/td>10,382 <\/td><\/td><\/td>9.95 <\/td>%<\/td><\/td>1,033 <\/td><\/td><\/td>10,240 <\/td><\/td><\/td>8.11 <\/td>%<\/td><\/td>831 <\/td><\/td><\/td>10,057 <\/td><\/td><\/td>7.38 <\/td>%<\/td><\/td>742 <\/td><\/td><\/tr>
Personal loans<\/td>9,011 <\/td><\/td><\/td>12.83 <\/td>%<\/td><\/td>1,156 <\/td><\/td><\/td>7,295 <\/td><\/td><\/td>11.95 <\/td>%<\/td><\/td>872 <\/td><\/td><\/td>6,945 <\/td><\/td><\/td>12.64 <\/td>%<\/td><\/td>878 <\/td><\/td><\/tr>
Other<\/td>4,713 <\/td><\/td><\/td>6.92 <\/td>%<\/td><\/td>326 <\/td><\/td><\/td>2,895 <\/td><\/td><\/td>5.77 <\/td>%<\/td><\/td>167 <\/td><\/td><\/td>2,054 <\/td><\/td><\/td>5.57 <\/td>%<\/td><\/td>114 <\/td><\/td><\/tr>
Total loan receivables<\/td>118,311 <\/td><\/td><\/td>14.33 <\/td>%<\/td><\/td>16,953 <\/td><\/td><\/td>99,673 <\/td><\/td><\/td>12.54 <\/td>%<\/td><\/td>12,502 <\/td><\/td><\/td>88,421 <\/td><\/td><\/td>11.82 <\/td>%<\/td><\/td>10,451 <\/td><\/td><\/tr>
Total interest-earning assets<\/td>139,691 <\/td><\/td><\/td>12.77 <\/td>%<\/td><\/td>17,845 <\/td><\/td><\/td>116,455 <\/td><\/td><\/td>11.05 <\/td>%<\/td><\/td>12,864 <\/td><\/td><\/td>112,241 <\/td><\/td><\/td>9.49 <\/td>%<\/td><\/td>10,651 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(7,936)<\/td><\/td><\/td><\/td><\/td><\/td><\/td>(6,820)<\/td><\/td><\/td><\/td><\/td><\/td><\/td>(7,351)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>6,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>6,070 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>6,237 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total assets(4)<\/td>$<\/td>138,693 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>115,705 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>111,127 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-bearing liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposits<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Time deposits<\/td>$<\/td>38,220 <\/td><\/td><\/td>3.89 <\/td>%<\/td><\/td>$<\/td>1,485 <\/td><\/td><\/td>$<\/td>23,988 <\/td><\/td><\/td>2.02 <\/td>%<\/td><\/td>$<\/td>484 <\/td><\/td><\/td>$<\/td>23,928 <\/td><\/td><\/td>1.84 <\/td>%<\/td><\/td>$<\/td>440 <\/td><\/td><\/tr>
Money market deposits<\/td>8,143 <\/td><\/td><\/td>4.16 <\/td>%<\/td><\/td>339 <\/td><\/td><\/td>8,453 <\/td><\/td><\/td>1.67 <\/td>%<\/td><\/td>141 <\/td><\/td><\/td>8,142 <\/td><\/td><\/td>0.53 <\/td>%<\/td><\/td>43 <\/td><\/td><\/tr>
Other interest-bearing savings deposits<\/td>51,366 <\/td><\/td><\/td>4.01 <\/td>%<\/td><\/td>2,062 <\/td><\/td><\/td>44,276 <\/td><\/td><\/td>1.43 <\/td>%<\/td><\/td>632 <\/td><\/td><\/td>40,912 <\/td><\/td><\/td>0.43 <\/td>%<\/td><\/td>178 <\/td><\/td><\/tr>
Total interest-bearing deposits<\/td>97,729 <\/td><\/td><\/td>3.98 <\/td>%<\/td><\/td>3,886 <\/td><\/td><\/td>76,717 <\/td><\/td><\/td>1.64 <\/td>%<\/td><\/td>1,257 <\/td><\/td><\/td>72,982 <\/td><\/td><\/td>0.91 <\/td>%<\/td><\/td>661 <\/td><\/td><\/tr>
Borrowings<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Short-term borrowings<\/td>44 <\/td><\/td><\/td>10.21 <\/td>%<\/td><\/td>5 <\/td><\/td><\/td>225 <\/td><\/td><\/td>0.70 <\/td>%<\/td><\/td>2 <\/td><\/td><\/td>72 <\/td><\/td><\/td>0.18 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Securitized borrowings(5)(6)(7)<\/td>10,528 <\/td><\/td><\/td>4.30 <\/td>%<\/td><\/td>453 <\/td><\/td><\/td>9,060 <\/td><\/td><\/td>2.41 <\/td>%<\/td><\/td>219 <\/td><\/td><\/td>9,627 <\/td><\/td><\/td>1.06 <\/td>%<\/td><\/td>102 <\/td><\/td><\/tr>
Other long-term borrowings(6)(7)(8)<\/td>9,090 <\/td><\/td><\/td>4.43 <\/td>%<\/td><\/td>402 <\/td><\/td><\/td>9,334 <\/td><\/td><\/td>4.15 <\/td>%<\/td><\/td>387 <\/td><\/td><\/td>9,888 <\/td><\/td><\/td>3.75 <\/td>%<\/td><\/td>371 <\/td><\/td><\/tr>
Total borrowings<\/td>19,662 <\/td><\/td><\/td>4.37 <\/td>%<\/td><\/td>860 <\/td><\/td><\/td>18,619 <\/td><\/td><\/td>3.26 <\/td>%<\/td><\/td>608 <\/td><\/td><\/td>19,587 <\/td><\/td><\/td>2.42 <\/td>%<\/td><\/td>473 <\/td><\/td><\/tr>
Total interest-bearing liabilities<\/td>117,391 <\/td><\/td><\/td>4.04 <\/td>%<\/td><\/td>4,746 <\/td><\/td><\/td>95,336 <\/td><\/td><\/td>1.96 <\/td>%<\/td><\/td>1,865 <\/td><\/td><\/td>92,569 <\/td><\/td><\/td>1.23 <\/td>%<\/td><\/td>1,134 <\/td><\/td><\/tr>
Other liabilities and stockholders' equity(9)<\/td>21,302 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>20,369 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>18,558 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>138,693 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>115,705 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>111,127 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td><\/td><\/td><\/td><\/td>$<\/td>13,099 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>10,999 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>9,517 <\/td><\/td><\/tr>
Net interest margin(10)<\/td><\/td><\/td>11.07 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>11.04 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>10.76 <\/td>%<\/td><\/td><\/td><\/tr>
Net yield on interest-earning assets(11)<\/td><\/td><\/td>9.38 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>9.45 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>8.48 <\/td>%<\/td><\/td><\/td><\/tr>
Interest rate spread(12)<\/td><\/td><\/td>8.73 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>9.09 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>8.26 <\/td>%<\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Average balances of loan receivables and yield calculations include non-accruing loans. If the non-accruing loan balances were excluded, there would not be a material impact on the amounts reported above. \n(2)Interest income on credit card loans includes $468 million, $365 million and $295 million of amortization of balance transfer fees for the years ended December 31, 2023, 2022 and 2021, respectively.\n(3)Includes the impact of interest rate swap agreements used to change a portion of floating-rate assets to fixed-rate assets for the years ended December 31, 2023, 2022 and 2021.\n(4)The return on average assets, based on net income, was 2.12%, 3.80% and 4.90% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(5)Includes the impact of one terminated derivative formerly designated as a cash flow hedge for the years ended December 31, 2023, 2022 and 2021.\n(6)Includes the impact of interest rate swap agreements used to change a portion of fixed-rate funding to floating-rate funding for the years ended December 31, 2023, 2022 and 2021.\n(7)Includes the impact of terminated derivatives formerly designated as fair value hedges for the years ended December 31, 2023, 2022 and 2021.\n(8)Includes the impact of interest rate swap agreements used to change a portion of floating-rate funding to fixed-rate funding for the years ended December 31, 2023 and 2022.\n(9)The return on average stockholders' equity, based on net income, was 21.00%, 32.00% and 43.12% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(10)Net interest margin represents net interest income as a percentage of average total loan receivables.\n(11)Net yield on interest-earning assets represents net interest income as a percentage of average total interest-earning assets.\n(12)Interest rate spread represents the difference between the rate on total interest-earning assets and the rate on total interest-bearing liabilities.\n-62-\n\n\n\n\n"} +{"QID":"q_Ra011","Question":"How has Discover\u2019s payout ratio changed between 2023 and 2022?","ground_truth_answer":"The payout ratio is calculated using the formula:\nPayout\u00a0Ratio = (Total\u00a0Dividends\u00a0per\u00a0Share\/Basci Earnings\u00a0per\u00a0Share\u00a0(EPS))\u00d7100\n\nDividend per Share:\n2023: $2.70\n2022: $2.30\nBasic Earnings per Share (EPS):\n2023: $11.27\n2022: $15.45 \nPayout Ratio Calculation:\n2023: Payout\u00a0Ratio = 23.9 %\n2022: Payout\u00a0Ratio = 14.9 %","question_type":"Ratio","page_number":"77;86","accession_number":"0001393612-24-000010;0001393612-24-000010","item":"Item 7. Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations;Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 77: Our Board of Directors declared the following common stock dividends during 2023, 2022 and 2021:\n| | | | | | | |\n|---:|:-----------------------------|:------------------|:-----|:-------------------|:-------------------|:-----|\n| 1 | Declaration Date | Record Date | | Payment Date | Dividend per Share | |\n| 2 | 2023 | | | | | |\n| 3 | October 16, 2023 | November 22, 2023 | | December 07, 2023 | $ | 0.70 |\n| 4 | July 17, 2023 | August 24, 2023 | | September 07, 2023 | 0.70 | |\n| 5 | April 17, 2023 | May 25, 2023 | | June 08, 2023 | 0.70 | |\n| 6 | January 17, 2023 | February 23, 2023 | | March 09, 2023 | 0.60 | |\n| 7 | Total common stock dividends | $ | 2.70 | | | |\n| 9 | 2022 | | | | | |\n| 10 | October 18, 2022 | November 23, 2022 | | December 08, 2022 | $ | 0.60 |\n| 11 | July 20, 2022 | August 25, 2022 | | September 08, 2022 | 0.60 | |\n| 12 | April 27, 2022 | May 26, 2022 | | June 09, 2022 | 0.60 | |\n| 13 | January 18, 2022 | February 17, 2022 | | March 03, 2022 | 0.50 | |\n| 14 | Total common stock dividends | $ | 2.30 | | | |\n| 16 | 2021 | | | | | |\n| 17 | October 19, 2021 | November 24, 2021 | | December 09, 2021 | $ | 0.50 |\n| 18 | July 20, 2021 | August 19, 2021 | | September 02, 2021 | 0.50 | |\n| 19 | April 20, 2021 | May 20, 2021 | | June 03, 2021 | 0.44 | |\n| 20 | January 19, 2021 | February 18, 2021 | | March 04, 2021 | 0.44 | |\n| 21 | Total common stock dividends | $ | 1.88 | | | |\n\nOn January 16, 2024, we declared a quarterly cash dividend on our common stock of $0.70 per share, payable on March 7, 2024 to holders of record on February 22, 2024, which is consistent with the quarterly amount paid in 2023.\nOur Board of Directors declared the following Series C preferred stock dividends during 2023, 2022 and 2021:\n| | | | | | | |\n|---:|:-----------------------------------------|:-----------------|:------|:------------------|:------------------------------|:------|\n| 1 | Declaration Date | Record Date | | Payment Date | Dividend per Depositary Share | |\n| 2 | 2023 | | | | | |\n| 3 | July 17, 2023 | October 13, 2023 | | October 30, 2023 | $ | 27.50 |\n| 4 | January 17, 2023 | April 14, 2023 | | May 01, 2023 | 27.50 | |\n| 5 | Total Series C preferred stock dividends | $ | 55.00 | | | |\n| 7 | 2022 | | | | | |\n| 8 | July 20, 2022 | October 14, 2022 | | October 31, 2022 | $ | 27.50 |\n| 9 | January 18, 2022 | April 15, 2022 | | May 02, 2022 | 27.50 | |\n| 10 | Total Series C preferred stock dividends | $ | 55.00 | | | |\n| 12 | 2021 | | | | | |\n| 13 | July 20, 2021 | October 15, 2021 | | November 01, 2021 | $ | 27.50 |\n| 14 | January 19, 2021 | April 15, 2021 | | April 30, 2021 | 27.50 | |\n| 15 | Total Series C preferred stock dividends | $ | 55.00 | | | |\n\n-77-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 86: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)| | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Interest income | | | | | | | | | |\n| 4 | Credit card loans | $ | 14,438 | | | $ | 10,632 | | $ | 8,717 |\n| 5 | Other loans | 2,515 | | | 1,870 | | | 1,734 | | |\n| 6 | Investment securities | 449 | | | 179 | | | 182 | | |\n| 7 | Other interest income | 443 | | | 183 | | | 18 | | |\n| 8 | Total interest income | 17,845 | | | 12,864 | | | 10,651 | | |\n| 9 | Interest expense | | | | | | | | | |\n| 10 | Deposits | 3,886 | | | 1,257 | | | 661 | | |\n| 11 | Short-term borrowings | 5 | | | 2 | | | - | | |\n| 12 | Long-term borrowings | 855 | | | 606 | | | 473 | | |\n| 13 | Total interest expense | 4,746 | | | 1,865 | | | 1,134 | | |\n| 14 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | |\n| 15 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | |\n| 16 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | |\n| 17 | Other income | | | | | | | | | |\n| 18 | Discount and interchange revenue, net | 1,447 | | | 1,380 | | | 1,188 | | |\n| 19 | Protection products revenue | 172 | | | 172 | | | 165 | | |\n| 20 | Loan fee income | 763 | | | 632 | | | 464 | | |\n| 21 | Transaction processing revenue | 303 | | | 249 | | | 227 | | |\n| 22 | (Losses) gains on equity investments | (9) | | | (214) | | | 424 | | |\n| 23 | Other income | 85 | | | 75 | | | 66 | | |\n| 24 | Total other income | 2,761 | | | 2,294 | | | 2,534 | | |\n| 25 | Other expense | | | | | | | | | |\n| 26 | Employee compensation and benefits | 2,434 | | | 2,139 | | | 1,986 | | |\n| 27 | Marketing and business development | 1,164 | | | 1,035 | | | 810 | | |\n| 28 | Information processing and communications | 608 | | | 513 | | | 500 | | |\n| 29 | Professional fees | 1,041 | | | 871 | | | 797 | | |\n| 30 | Premises and equipment | 89 | | | 118 | | | 92 | | |\n| 31 | Other expense | 680 | | | 540 | | | 620 | | |\n| 32 | Total other expense | 6,016 | | | 5,216 | | | 4,805 | | |\n| 33 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | |\n| 34 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | |\n| 35 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 36 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 37 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 38 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_markdown_without_headers":"Our Board of Directors declared the following common stock dividends during 2023, 2022 and 2021:\n| | | | | | | |\n|---:|:-----------------------------|:------------------|:-----|:-------------------|:-------------------|:-----|\n| 1 | Declaration Date | Record Date | | Payment Date | Dividend per Share | |\n| 2 | 2023 | | | | | |\n| 3 | October 16, 2023 | November 22, 2023 | | December 07, 2023 | $ | 0.70 |\n| 4 | July 17, 2023 | August 24, 2023 | | September 07, 2023 | 0.70 | |\n| 5 | April 17, 2023 | May 25, 2023 | | June 08, 2023 | 0.70 | |\n| 6 | January 17, 2023 | February 23, 2023 | | March 09, 2023 | 0.60 | |\n| 7 | Total common stock dividends | $ | 2.70 | | | |\n| 9 | 2022 | | | | | |\n| 10 | October 18, 2022 | November 23, 2022 | | December 08, 2022 | $ | 0.60 |\n| 11 | July 20, 2022 | August 25, 2022 | | September 08, 2022 | 0.60 | |\n| 12 | April 27, 2022 | May 26, 2022 | | June 09, 2022 | 0.60 | |\n| 13 | January 18, 2022 | February 17, 2022 | | March 03, 2022 | 0.50 | |\n| 14 | Total common stock dividends | $ | 2.30 | | | |\n| 16 | 2021 | | | | | |\n| 17 | October 19, 2021 | November 24, 2021 | | December 09, 2021 | $ | 0.50 |\n| 18 | July 20, 2021 | August 19, 2021 | | September 02, 2021 | 0.50 | |\n| 19 | April 20, 2021 | May 20, 2021 | | June 03, 2021 | 0.44 | |\n| 20 | January 19, 2021 | February 18, 2021 | | March 04, 2021 | 0.44 | |\n| 21 | Total common stock dividends | $ | 1.88 | | | |\n\nOn January 16, 2024, we declared a quarterly cash dividend on our common stock of $0.70 per share, payable on March 7, 2024 to holders of record on February 22, 2024, which is consistent with the quarterly amount paid in 2023.\nOur Board of Directors declared the following Series C preferred stock dividends during 2023, 2022 and 2021:\n| | | | | | | |\n|---:|:-----------------------------------------|:-----------------|:------|:------------------|:------------------------------|:------|\n| 1 | Declaration Date | Record Date | | Payment Date | Dividend per Depositary Share | |\n| 2 | 2023 | | | | | |\n| 3 | July 17, 2023 | October 13, 2023 | | October 30, 2023 | $ | 27.50 |\n| 4 | January 17, 2023 | April 14, 2023 | | May 01, 2023 | 27.50 | |\n| 5 | Total Series C preferred stock dividends | $ | 55.00 | | | |\n| 7 | 2022 | | | | | |\n| 8 | July 20, 2022 | October 14, 2022 | | October 31, 2022 | $ | 27.50 |\n| 9 | January 18, 2022 | April 15, 2022 | | May 02, 2022 | 27.50 | |\n| 10 | Total Series C preferred stock dividends | $ | 55.00 | | | |\n| 12 | 2021 | | | | | |\n| 13 | July 20, 2021 | October 15, 2021 | | November 01, 2021 | $ | 27.50 |\n| 14 | January 19, 2021 | April 15, 2021 | | April 30, 2021 | 27.50 | |\n| 15 | Total Series C preferred stock dividends | $ | 55.00 | | | |\n\n-77-\n\n\n\n\n, \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)| | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Interest income | | | | | | | | | |\n| 4 | Credit card loans | $ | 14,438 | | | $ | 10,632 | | $ | 8,717 |\n| 5 | Other loans | 2,515 | | | 1,870 | | | 1,734 | | |\n| 6 | Investment securities | 449 | | | 179 | | | 182 | | |\n| 7 | Other interest income | 443 | | | 183 | | | 18 | | |\n| 8 | Total interest income | 17,845 | | | 12,864 | | | 10,651 | | |\n| 9 | Interest expense | | | | | | | | | |\n| 10 | Deposits | 3,886 | | | 1,257 | | | 661 | | |\n| 11 | Short-term borrowings | 5 | | | 2 | | | - | | |\n| 12 | Long-term borrowings | 855 | | | 606 | | | 473 | | |\n| 13 | Total interest expense | 4,746 | | | 1,865 | | | 1,134 | | |\n| 14 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | |\n| 15 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | |\n| 16 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | |\n| 17 | Other income | | | | | | | | | |\n| 18 | Discount and interchange revenue, net | 1,447 | | | 1,380 | | | 1,188 | | |\n| 19 | Protection products revenue | 172 | | | 172 | | | 165 | | |\n| 20 | Loan fee income | 763 | | | 632 | | | 464 | | |\n| 21 | Transaction processing revenue | 303 | | | 249 | | | 227 | | |\n| 22 | (Losses) gains on equity investments | (9) | | | (214) | | | 424 | | |\n| 23 | Other income | 85 | | | 75 | | | 66 | | |\n| 24 | Total other income | 2,761 | | | 2,294 | | | 2,534 | | |\n| 25 | Other expense | | | | | | | | | |\n| 26 | Employee compensation and benefits | 2,434 | | | 2,139 | | | 1,986 | | |\n| 27 | Marketing and business development | 1,164 | | | 1,035 | | | 810 | | |\n| 28 | Information processing and communications | 608 | | | 513 | | | 500 | | |\n| 29 | Professional fees | 1,041 | | | 871 | | | 797 | | |\n| 30 | Premises and equipment | 89 | | | 118 | | | 92 | | |\n| 31 | Other expense | 680 | | | 540 | | | 620 | | |\n| 32 | Total other expense | 6,016 | | | 5,216 | | | 4,805 | | |\n| 33 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | |\n| 34 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | |\n| 35 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 36 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 37 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 38 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 77: Our Board of Directors declared the following common stock dividends during 2023, 2022 and 2021:
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Declaration Date<\/td><\/td>Record Date<\/td><\/td>Payment Date<\/td><\/td>Dividend per Share<\/td><\/tr>
2023<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
October 16, 2023<\/td><\/td>November 22, 2023<\/td><\/td>December 07, 2023<\/td><\/td>$<\/td>0.70 <\/td><\/td><\/tr>
July 17, 2023<\/td><\/td>August 24, 2023<\/td><\/td>September 07, 2023<\/td><\/td>0.70 <\/td><\/td><\/tr>
April 17, 2023<\/td><\/td>May 25, 2023<\/td><\/td>June 08, 2023<\/td><\/td>0.70 <\/td><\/td><\/tr>
January 17, 2023<\/td><\/td>February 23, 2023<\/td><\/td>March 09, 2023<\/td><\/td>0.60 <\/td><\/td><\/tr>
Total common stock dividends<\/td><\/td>$<\/td>2.70 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2022<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
October 18, 2022<\/td><\/td>November 23, 2022<\/td><\/td>December 08, 2022<\/td><\/td>$<\/td>0.60 <\/td><\/td><\/tr>
July 20, 2022<\/td><\/td>August 25, 2022<\/td><\/td>September 08, 2022<\/td><\/td>0.60 <\/td><\/td><\/tr>
April 27, 2022<\/td><\/td>May 26, 2022<\/td><\/td>June 09, 2022<\/td><\/td>0.60 <\/td><\/td><\/tr>
January 18, 2022<\/td><\/td>February 17, 2022<\/td><\/td>March 03, 2022<\/td><\/td>0.50 <\/td><\/td><\/tr>
Total common stock dividends<\/td><\/td>$<\/td>2.30 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2021<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
October 19, 2021<\/td><\/td>November 24, 2021<\/td><\/td>December 09, 2021<\/td><\/td>$<\/td>0.50 <\/td><\/td><\/tr>
July 20, 2021<\/td><\/td>August 19, 2021<\/td><\/td>September 02, 2021<\/td><\/td>0.50 <\/td><\/td><\/tr>
April 20, 2021<\/td><\/td>May 20, 2021<\/td><\/td>June 03, 2021<\/td><\/td>0.44 <\/td><\/td><\/tr>
January 19, 2021<\/td><\/td>February 18, 2021<\/td><\/td>March 04, 2021<\/td><\/td>0.44 <\/td><\/td><\/tr>
Total common stock dividends<\/td><\/td>$<\/td>1.88 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>On January 16, 2024, we declared a quarterly cash dividend on our common stock of $0.70 per share, payable on March 7, 2024 to holders of record on February 22, 2024, which is consistent with the quarterly amount paid in 2023.\nOur Board of Directors declared the following Series C preferred stock dividends during 2023, 2022 and 2021:
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Declaration Date<\/td><\/td>Record Date<\/td><\/td>Payment Date<\/td><\/td>Dividend per Depositary Share<\/td><\/tr>
2023<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
July 17, 2023<\/td><\/td>October 13, 2023<\/td><\/td>October 30, 2023<\/td><\/td>$<\/td>27.50 <\/td><\/td><\/tr>
January 17, 2023<\/td><\/td>April 14, 2023<\/td><\/td>May 01, 2023<\/td><\/td>27.50 <\/td><\/td><\/tr>
Total Series C preferred stock dividends<\/td><\/td>$<\/td>55.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2022<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
July 20, 2022<\/td><\/td>October 14, 2022<\/td><\/td>October 31, 2022<\/td><\/td>$<\/td>27.50 <\/td><\/td><\/tr>
January 18, 2022<\/td><\/td>April 15, 2022<\/td><\/td>May 02, 2022<\/td><\/td>27.50 <\/td><\/td><\/tr>
Total Series C preferred stock dividends<\/td><\/td>$<\/td>55.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2021<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
July 20, 2021<\/td><\/td>October 15, 2021<\/td><\/td>November 01, 2021<\/td><\/td>$<\/td>27.50 <\/td><\/td><\/tr>
January 19, 2021<\/td><\/td>April 15, 2021<\/td><\/td>April 30, 2021<\/td><\/td>27.50 <\/td><\/td><\/tr>
Total Series C preferred stock dividends<\/td><\/td>$<\/td>55.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>-77-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 86: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>14,438 <\/td><\/td><\/td>$<\/td>10,632 <\/td><\/td><\/td>$<\/td>8,717 <\/td><\/td><\/tr>
Other loans<\/td>2,515 <\/td><\/td><\/td>1,870 <\/td><\/td><\/td>1,734 <\/td><\/td><\/tr>
Investment securities<\/td>449 <\/td><\/td><\/td>179 <\/td><\/td><\/td>182 <\/td><\/td><\/tr>
Other interest income<\/td>443 <\/td><\/td><\/td>183 <\/td><\/td><\/td>18 <\/td><\/td><\/tr>
Total interest income<\/td>17,845 <\/td><\/td><\/td>12,864 <\/td><\/td><\/td>10,651 <\/td><\/td><\/tr>
Interest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td>3,886 <\/td><\/td><\/td>1,257 <\/td><\/td><\/td>661 <\/td><\/td><\/tr>
Short-term borrowings<\/td>5 <\/td><\/td><\/td>2 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>855 <\/td><\/td><\/td>606 <\/td><\/td><\/td>473 <\/td><\/td><\/tr>
Total interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/tr>
Other income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discount and interchange revenue, net<\/td>1,447 <\/td><\/td><\/td>1,380 <\/td><\/td><\/td>1,188 <\/td><\/td><\/tr>
Protection products revenue<\/td>172 <\/td><\/td><\/td>172 <\/td><\/td><\/td>165 <\/td><\/td><\/tr>
Loan fee income<\/td>763 <\/td><\/td><\/td>632 <\/td><\/td><\/td>464 <\/td><\/td><\/tr>
Transaction processing revenue<\/td>303 <\/td><\/td><\/td>249 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
(Losses) gains on equity investments<\/td>(9)<\/td><\/td><\/td>(214)<\/td><\/td><\/td>424 <\/td><\/td><\/tr>
Other income<\/td>85 <\/td><\/td><\/td>75 <\/td><\/td><\/td>66 <\/td><\/td><\/tr>
Total other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/tr>
Other expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>2,434 <\/td><\/td><\/td>2,139 <\/td><\/td><\/td>1,986 <\/td><\/td><\/tr>
Marketing and business development<\/td>1,164 <\/td><\/td><\/td>1,035 <\/td><\/td><\/td>810 <\/td><\/td><\/tr>
Information processing and communications<\/td>608 <\/td><\/td><\/td>513 <\/td><\/td><\/td>500 <\/td><\/td><\/tr>
Professional fees<\/td>1,041 <\/td><\/td><\/td>871 <\/td><\/td><\/td>797 <\/td><\/td><\/tr>
Premises and equipment<\/td>89 <\/td><\/td><\/td>118 <\/td><\/td><\/td>92 <\/td><\/td><\/tr>
Other expense<\/td>680 <\/td><\/td><\/td>540 <\/td><\/td><\/td>620 <\/td><\/td><\/tr>
Total other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_html_without_headers":"Our Board of Directors declared the following common stock dividends during 2023, 2022 and 2021:
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Declaration Date<\/td><\/td>Record Date<\/td><\/td>Payment Date<\/td><\/td>Dividend per Share<\/td><\/tr>
2023<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
October 16, 2023<\/td><\/td>November 22, 2023<\/td><\/td>December 07, 2023<\/td><\/td>$<\/td>0.70 <\/td><\/td><\/tr>
July 17, 2023<\/td><\/td>August 24, 2023<\/td><\/td>September 07, 2023<\/td><\/td>0.70 <\/td><\/td><\/tr>
April 17, 2023<\/td><\/td>May 25, 2023<\/td><\/td>June 08, 2023<\/td><\/td>0.70 <\/td><\/td><\/tr>
January 17, 2023<\/td><\/td>February 23, 2023<\/td><\/td>March 09, 2023<\/td><\/td>0.60 <\/td><\/td><\/tr>
Total common stock dividends<\/td><\/td>$<\/td>2.70 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2022<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
October 18, 2022<\/td><\/td>November 23, 2022<\/td><\/td>December 08, 2022<\/td><\/td>$<\/td>0.60 <\/td><\/td><\/tr>
July 20, 2022<\/td><\/td>August 25, 2022<\/td><\/td>September 08, 2022<\/td><\/td>0.60 <\/td><\/td><\/tr>
April 27, 2022<\/td><\/td>May 26, 2022<\/td><\/td>June 09, 2022<\/td><\/td>0.60 <\/td><\/td><\/tr>
January 18, 2022<\/td><\/td>February 17, 2022<\/td><\/td>March 03, 2022<\/td><\/td>0.50 <\/td><\/td><\/tr>
Total common stock dividends<\/td><\/td>$<\/td>2.30 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2021<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
October 19, 2021<\/td><\/td>November 24, 2021<\/td><\/td>December 09, 2021<\/td><\/td>$<\/td>0.50 <\/td><\/td><\/tr>
July 20, 2021<\/td><\/td>August 19, 2021<\/td><\/td>September 02, 2021<\/td><\/td>0.50 <\/td><\/td><\/tr>
April 20, 2021<\/td><\/td>May 20, 2021<\/td><\/td>June 03, 2021<\/td><\/td>0.44 <\/td><\/td><\/tr>
January 19, 2021<\/td><\/td>February 18, 2021<\/td><\/td>March 04, 2021<\/td><\/td>0.44 <\/td><\/td><\/tr>
Total common stock dividends<\/td><\/td>$<\/td>1.88 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>On January 16, 2024, we declared a quarterly cash dividend on our common stock of $0.70 per share, payable on March 7, 2024 to holders of record on February 22, 2024, which is consistent with the quarterly amount paid in 2023.\nOur Board of Directors declared the following Series C preferred stock dividends during 2023, 2022 and 2021:
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Declaration Date<\/td><\/td>Record Date<\/td><\/td>Payment Date<\/td><\/td>Dividend per Depositary Share<\/td><\/tr>
2023<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
July 17, 2023<\/td><\/td>October 13, 2023<\/td><\/td>October 30, 2023<\/td><\/td>$<\/td>27.50 <\/td><\/td><\/tr>
January 17, 2023<\/td><\/td>April 14, 2023<\/td><\/td>May 01, 2023<\/td><\/td>27.50 <\/td><\/td><\/tr>
Total Series C preferred stock dividends<\/td><\/td>$<\/td>55.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2022<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
July 20, 2022<\/td><\/td>October 14, 2022<\/td><\/td>October 31, 2022<\/td><\/td>$<\/td>27.50 <\/td><\/td><\/tr>
January 18, 2022<\/td><\/td>April 15, 2022<\/td><\/td>May 02, 2022<\/td><\/td>27.50 <\/td><\/td><\/tr>
Total Series C preferred stock dividends<\/td><\/td>$<\/td>55.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2021<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
July 20, 2021<\/td><\/td>October 15, 2021<\/td><\/td>November 01, 2021<\/td><\/td>$<\/td>27.50 <\/td><\/td><\/tr>
January 19, 2021<\/td><\/td>April 15, 2021<\/td><\/td>April 30, 2021<\/td><\/td>27.50 <\/td><\/td><\/tr>
Total Series C preferred stock dividends<\/td><\/td>$<\/td>55.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>-77-\n\n\n\n\n, \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>14,438 <\/td><\/td><\/td>$<\/td>10,632 <\/td><\/td><\/td>$<\/td>8,717 <\/td><\/td><\/tr>
Other loans<\/td>2,515 <\/td><\/td><\/td>1,870 <\/td><\/td><\/td>1,734 <\/td><\/td><\/tr>
Investment securities<\/td>449 <\/td><\/td><\/td>179 <\/td><\/td><\/td>182 <\/td><\/td><\/tr>
Other interest income<\/td>443 <\/td><\/td><\/td>183 <\/td><\/td><\/td>18 <\/td><\/td><\/tr>
Total interest income<\/td>17,845 <\/td><\/td><\/td>12,864 <\/td><\/td><\/td>10,651 <\/td><\/td><\/tr>
Interest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td>3,886 <\/td><\/td><\/td>1,257 <\/td><\/td><\/td>661 <\/td><\/td><\/tr>
Short-term borrowings<\/td>5 <\/td><\/td><\/td>2 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>855 <\/td><\/td><\/td>606 <\/td><\/td><\/td>473 <\/td><\/td><\/tr>
Total interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/tr>
Other income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discount and interchange revenue, net<\/td>1,447 <\/td><\/td><\/td>1,380 <\/td><\/td><\/td>1,188 <\/td><\/td><\/tr>
Protection products revenue<\/td>172 <\/td><\/td><\/td>172 <\/td><\/td><\/td>165 <\/td><\/td><\/tr>
Loan fee income<\/td>763 <\/td><\/td><\/td>632 <\/td><\/td><\/td>464 <\/td><\/td><\/tr>
Transaction processing revenue<\/td>303 <\/td><\/td><\/td>249 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
(Losses) gains on equity investments<\/td>(9)<\/td><\/td><\/td>(214)<\/td><\/td><\/td>424 <\/td><\/td><\/tr>
Other income<\/td>85 <\/td><\/td><\/td>75 <\/td><\/td><\/td>66 <\/td><\/td><\/tr>
Total other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/tr>
Other expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>2,434 <\/td><\/td><\/td>2,139 <\/td><\/td><\/td>1,986 <\/td><\/td><\/tr>
Marketing and business development<\/td>1,164 <\/td><\/td><\/td>1,035 <\/td><\/td><\/td>810 <\/td><\/td><\/tr>
Information processing and communications<\/td>608 <\/td><\/td><\/td>513 <\/td><\/td><\/td>500 <\/td><\/td><\/tr>
Professional fees<\/td>1,041 <\/td><\/td><\/td>871 <\/td><\/td><\/td>797 <\/td><\/td><\/tr>
Premises and equipment<\/td>89 <\/td><\/td><\/td>118 <\/td><\/td><\/td>92 <\/td><\/td><\/tr>
Other expense<\/td>680 <\/td><\/td><\/td>540 <\/td><\/td><\/td>620 <\/td><\/td><\/tr>
Total other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n"} +{"QID":"q_Ra012","Question":"What was the change in dividend payout ratio between 2022 and 2023?","ground_truth_answer":"\nFrom 2022 to 2023, Discover\u2019s payout ratio increased from approximately 14.9% to 23.9%. ","question_type":"Ratio","page_number":"77;86","accession_number":"0001393612-24-000010;0001393612-24-000010","item":"Item 7. Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations;Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 77: Our Board of Directors declared the following common stock dividends during 2023, 2022 and 2021:\n| | | | | | | |\n|---:|:-----------------------------|:------------------|:-----|:-------------------|:-------------------|:-----|\n| 1 | Declaration Date | Record Date | | Payment Date | Dividend per Share | |\n| 2 | 2023 | | | | | |\n| 3 | October 16, 2023 | November 22, 2023 | | December 07, 2023 | $ | 0.70 |\n| 4 | July 17, 2023 | August 24, 2023 | | September 07, 2023 | 0.70 | |\n| 5 | April 17, 2023 | May 25, 2023 | | June 08, 2023 | 0.70 | |\n| 6 | January 17, 2023 | February 23, 2023 | | March 09, 2023 | 0.60 | |\n| 7 | Total common stock dividends | $ | 2.70 | | | |\n| 9 | 2022 | | | | | |\n| 10 | October 18, 2022 | November 23, 2022 | | December 08, 2022 | $ | 0.60 |\n| 11 | July 20, 2022 | August 25, 2022 | | September 08, 2022 | 0.60 | |\n| 12 | April 27, 2022 | May 26, 2022 | | June 09, 2022 | 0.60 | |\n| 13 | January 18, 2022 | February 17, 2022 | | March 03, 2022 | 0.50 | |\n| 14 | Total common stock dividends | $ | 2.30 | | | |\n| 16 | 2021 | | | | | |\n| 17 | October 19, 2021 | November 24, 2021 | | December 09, 2021 | $ | 0.50 |\n| 18 | July 20, 2021 | August 19, 2021 | | September 02, 2021 | 0.50 | |\n| 19 | April 20, 2021 | May 20, 2021 | | June 03, 2021 | 0.44 | |\n| 20 | January 19, 2021 | February 18, 2021 | | March 04, 2021 | 0.44 | |\n| 21 | Total common stock dividends | $ | 1.88 | | | |\n\nOn January 16, 2024, we declared a quarterly cash dividend on our common stock of $0.70 per share, payable on March 7, 2024 to holders of record on February 22, 2024, which is consistent with the quarterly amount paid in 2023.\nOur Board of Directors declared the following Series C preferred stock dividends during 2023, 2022 and 2021:\n| | | | | | | |\n|---:|:-----------------------------------------|:-----------------|:------|:------------------|:------------------------------|:------|\n| 1 | Declaration Date | Record Date | | Payment Date | Dividend per Depositary Share | |\n| 2 | 2023 | | | | | |\n| 3 | July 17, 2023 | October 13, 2023 | | October 30, 2023 | $ | 27.50 |\n| 4 | January 17, 2023 | April 14, 2023 | | May 01, 2023 | 27.50 | |\n| 5 | Total Series C preferred stock dividends | $ | 55.00 | | | |\n| 7 | 2022 | | | | | |\n| 8 | July 20, 2022 | October 14, 2022 | | October 31, 2022 | $ | 27.50 |\n| 9 | January 18, 2022 | April 15, 2022 | | May 02, 2022 | 27.50 | |\n| 10 | Total Series C preferred stock dividends | $ | 55.00 | | | |\n| 12 | 2021 | | | | | |\n| 13 | July 20, 2021 | October 15, 2021 | | November 01, 2021 | $ | 27.50 |\n| 14 | January 19, 2021 | April 15, 2021 | | April 30, 2021 | 27.50 | |\n| 15 | Total Series C preferred stock dividends | $ | 55.00 | | | |\n\n-77-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 86: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)| | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Interest income | | | | | | | | | |\n| 4 | Credit card loans | $ | 14,438 | | | $ | 10,632 | | $ | 8,717 |\n| 5 | Other loans | 2,515 | | | 1,870 | | | 1,734 | | |\n| 6 | Investment securities | 449 | | | 179 | | | 182 | | |\n| 7 | Other interest income | 443 | | | 183 | | | 18 | | |\n| 8 | Total interest income | 17,845 | | | 12,864 | | | 10,651 | | |\n| 9 | Interest expense | | | | | | | | | |\n| 10 | Deposits | 3,886 | | | 1,257 | | | 661 | | |\n| 11 | Short-term borrowings | 5 | | | 2 | | | - | | |\n| 12 | Long-term borrowings | 855 | | | 606 | | | 473 | | |\n| 13 | Total interest expense | 4,746 | | | 1,865 | | | 1,134 | | |\n| 14 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | |\n| 15 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | |\n| 16 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | |\n| 17 | Other income | | | | | | | | | |\n| 18 | Discount and interchange revenue, net | 1,447 | | | 1,380 | | | 1,188 | | |\n| 19 | Protection products revenue | 172 | | | 172 | | | 165 | | |\n| 20 | Loan fee income | 763 | | | 632 | | | 464 | | |\n| 21 | Transaction processing revenue | 303 | | | 249 | | | 227 | | |\n| 22 | (Losses) gains on equity investments | (9) | | | (214) | | | 424 | | |\n| 23 | Other income | 85 | | | 75 | | | 66 | | |\n| 24 | Total other income | 2,761 | | | 2,294 | | | 2,534 | | |\n| 25 | Other expense | | | | | | | | | |\n| 26 | Employee compensation and benefits | 2,434 | | | 2,139 | | | 1,986 | | |\n| 27 | Marketing and business development | 1,164 | | | 1,035 | | | 810 | | |\n| 28 | Information processing and communications | 608 | | | 513 | | | 500 | | |\n| 29 | Professional fees | 1,041 | | | 871 | | | 797 | | |\n| 30 | Premises and equipment | 89 | | | 118 | | | 92 | | |\n| 31 | Other expense | 680 | | | 540 | | | 620 | | |\n| 32 | Total other expense | 6,016 | | | 5,216 | | | 4,805 | | |\n| 33 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | |\n| 34 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | |\n| 35 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 36 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 37 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 38 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_markdown_without_headers":"Our Board of Directors declared the following common stock dividends during 2023, 2022 and 2021:\n| | | | | | | |\n|---:|:-----------------------------|:------------------|:-----|:-------------------|:-------------------|:-----|\n| 1 | Declaration Date | Record Date | | Payment Date | Dividend per Share | |\n| 2 | 2023 | | | | | |\n| 3 | October 16, 2023 | November 22, 2023 | | December 07, 2023 | $ | 0.70 |\n| 4 | July 17, 2023 | August 24, 2023 | | September 07, 2023 | 0.70 | |\n| 5 | April 17, 2023 | May 25, 2023 | | June 08, 2023 | 0.70 | |\n| 6 | January 17, 2023 | February 23, 2023 | | March 09, 2023 | 0.60 | |\n| 7 | Total common stock dividends | $ | 2.70 | | | |\n| 9 | 2022 | | | | | |\n| 10 | October 18, 2022 | November 23, 2022 | | December 08, 2022 | $ | 0.60 |\n| 11 | July 20, 2022 | August 25, 2022 | | September 08, 2022 | 0.60 | |\n| 12 | April 27, 2022 | May 26, 2022 | | June 09, 2022 | 0.60 | |\n| 13 | January 18, 2022 | February 17, 2022 | | March 03, 2022 | 0.50 | |\n| 14 | Total common stock dividends | $ | 2.30 | | | |\n| 16 | 2021 | | | | | |\n| 17 | October 19, 2021 | November 24, 2021 | | December 09, 2021 | $ | 0.50 |\n| 18 | July 20, 2021 | August 19, 2021 | | September 02, 2021 | 0.50 | |\n| 19 | April 20, 2021 | May 20, 2021 | | June 03, 2021 | 0.44 | |\n| 20 | January 19, 2021 | February 18, 2021 | | March 04, 2021 | 0.44 | |\n| 21 | Total common stock dividends | $ | 1.88 | | | |\n\nOn January 16, 2024, we declared a quarterly cash dividend on our common stock of $0.70 per share, payable on March 7, 2024 to holders of record on February 22, 2024, which is consistent with the quarterly amount paid in 2023.\nOur Board of Directors declared the following Series C preferred stock dividends during 2023, 2022 and 2021:\n| | | | | | | |\n|---:|:-----------------------------------------|:-----------------|:------|:------------------|:------------------------------|:------|\n| 1 | Declaration Date | Record Date | | Payment Date | Dividend per Depositary Share | |\n| 2 | 2023 | | | | | |\n| 3 | July 17, 2023 | October 13, 2023 | | October 30, 2023 | $ | 27.50 |\n| 4 | January 17, 2023 | April 14, 2023 | | May 01, 2023 | 27.50 | |\n| 5 | Total Series C preferred stock dividends | $ | 55.00 | | | |\n| 7 | 2022 | | | | | |\n| 8 | July 20, 2022 | October 14, 2022 | | October 31, 2022 | $ | 27.50 |\n| 9 | January 18, 2022 | April 15, 2022 | | May 02, 2022 | 27.50 | |\n| 10 | Total Series C preferred stock dividends | $ | 55.00 | | | |\n| 12 | 2021 | | | | | |\n| 13 | July 20, 2021 | October 15, 2021 | | November 01, 2021 | $ | 27.50 |\n| 14 | January 19, 2021 | April 15, 2021 | | April 30, 2021 | 27.50 | |\n| 15 | Total Series C preferred stock dividends | $ | 55.00 | | | |\n\n-77-\n\n\n\n\n, \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)| | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Interest income | | | | | | | | | |\n| 4 | Credit card loans | $ | 14,438 | | | $ | 10,632 | | $ | 8,717 |\n| 5 | Other loans | 2,515 | | | 1,870 | | | 1,734 | | |\n| 6 | Investment securities | 449 | | | 179 | | | 182 | | |\n| 7 | Other interest income | 443 | | | 183 | | | 18 | | |\n| 8 | Total interest income | 17,845 | | | 12,864 | | | 10,651 | | |\n| 9 | Interest expense | | | | | | | | | |\n| 10 | Deposits | 3,886 | | | 1,257 | | | 661 | | |\n| 11 | Short-term borrowings | 5 | | | 2 | | | - | | |\n| 12 | Long-term borrowings | 855 | | | 606 | | | 473 | | |\n| 13 | Total interest expense | 4,746 | | | 1,865 | | | 1,134 | | |\n| 14 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | |\n| 15 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | |\n| 16 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | |\n| 17 | Other income | | | | | | | | | |\n| 18 | Discount and interchange revenue, net | 1,447 | | | 1,380 | | | 1,188 | | |\n| 19 | Protection products revenue | 172 | | | 172 | | | 165 | | |\n| 20 | Loan fee income | 763 | | | 632 | | | 464 | | |\n| 21 | Transaction processing revenue | 303 | | | 249 | | | 227 | | |\n| 22 | (Losses) gains on equity investments | (9) | | | (214) | | | 424 | | |\n| 23 | Other income | 85 | | | 75 | | | 66 | | |\n| 24 | Total other income | 2,761 | | | 2,294 | | | 2,534 | | |\n| 25 | Other expense | | | | | | | | | |\n| 26 | Employee compensation and benefits | 2,434 | | | 2,139 | | | 1,986 | | |\n| 27 | Marketing and business development | 1,164 | | | 1,035 | | | 810 | | |\n| 28 | Information processing and communications | 608 | | | 513 | | | 500 | | |\n| 29 | Professional fees | 1,041 | | | 871 | | | 797 | | |\n| 30 | Premises and equipment | 89 | | | 118 | | | 92 | | |\n| 31 | Other expense | 680 | | | 540 | | | 620 | | |\n| 32 | Total other expense | 6,016 | | | 5,216 | | | 4,805 | | |\n| 33 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | |\n| 34 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | |\n| 35 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 36 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 37 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 38 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 77: Our Board of Directors declared the following common stock dividends during 2023, 2022 and 2021:
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Declaration Date<\/td><\/td>Record Date<\/td><\/td>Payment Date<\/td><\/td>Dividend per Share<\/td><\/tr>
2023<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
October 16, 2023<\/td><\/td>November 22, 2023<\/td><\/td>December 07, 2023<\/td><\/td>$<\/td>0.70 <\/td><\/td><\/tr>
July 17, 2023<\/td><\/td>August 24, 2023<\/td><\/td>September 07, 2023<\/td><\/td>0.70 <\/td><\/td><\/tr>
April 17, 2023<\/td><\/td>May 25, 2023<\/td><\/td>June 08, 2023<\/td><\/td>0.70 <\/td><\/td><\/tr>
January 17, 2023<\/td><\/td>February 23, 2023<\/td><\/td>March 09, 2023<\/td><\/td>0.60 <\/td><\/td><\/tr>
Total common stock dividends<\/td><\/td>$<\/td>2.70 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2022<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
October 18, 2022<\/td><\/td>November 23, 2022<\/td><\/td>December 08, 2022<\/td><\/td>$<\/td>0.60 <\/td><\/td><\/tr>
July 20, 2022<\/td><\/td>August 25, 2022<\/td><\/td>September 08, 2022<\/td><\/td>0.60 <\/td><\/td><\/tr>
April 27, 2022<\/td><\/td>May 26, 2022<\/td><\/td>June 09, 2022<\/td><\/td>0.60 <\/td><\/td><\/tr>
January 18, 2022<\/td><\/td>February 17, 2022<\/td><\/td>March 03, 2022<\/td><\/td>0.50 <\/td><\/td><\/tr>
Total common stock dividends<\/td><\/td>$<\/td>2.30 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2021<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
October 19, 2021<\/td><\/td>November 24, 2021<\/td><\/td>December 09, 2021<\/td><\/td>$<\/td>0.50 <\/td><\/td><\/tr>
July 20, 2021<\/td><\/td>August 19, 2021<\/td><\/td>September 02, 2021<\/td><\/td>0.50 <\/td><\/td><\/tr>
April 20, 2021<\/td><\/td>May 20, 2021<\/td><\/td>June 03, 2021<\/td><\/td>0.44 <\/td><\/td><\/tr>
January 19, 2021<\/td><\/td>February 18, 2021<\/td><\/td>March 04, 2021<\/td><\/td>0.44 <\/td><\/td><\/tr>
Total common stock dividends<\/td><\/td>$<\/td>1.88 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>On January 16, 2024, we declared a quarterly cash dividend on our common stock of $0.70 per share, payable on March 7, 2024 to holders of record on February 22, 2024, which is consistent with the quarterly amount paid in 2023.\nOur Board of Directors declared the following Series C preferred stock dividends during 2023, 2022 and 2021:
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Declaration Date<\/td><\/td>Record Date<\/td><\/td>Payment Date<\/td><\/td>Dividend per Depositary Share<\/td><\/tr>
2023<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
July 17, 2023<\/td><\/td>October 13, 2023<\/td><\/td>October 30, 2023<\/td><\/td>$<\/td>27.50 <\/td><\/td><\/tr>
January 17, 2023<\/td><\/td>April 14, 2023<\/td><\/td>May 01, 2023<\/td><\/td>27.50 <\/td><\/td><\/tr>
Total Series C preferred stock dividends<\/td><\/td>$<\/td>55.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2022<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
July 20, 2022<\/td><\/td>October 14, 2022<\/td><\/td>October 31, 2022<\/td><\/td>$<\/td>27.50 <\/td><\/td><\/tr>
January 18, 2022<\/td><\/td>April 15, 2022<\/td><\/td>May 02, 2022<\/td><\/td>27.50 <\/td><\/td><\/tr>
Total Series C preferred stock dividends<\/td><\/td>$<\/td>55.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2021<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
July 20, 2021<\/td><\/td>October 15, 2021<\/td><\/td>November 01, 2021<\/td><\/td>$<\/td>27.50 <\/td><\/td><\/tr>
January 19, 2021<\/td><\/td>April 15, 2021<\/td><\/td>April 30, 2021<\/td><\/td>27.50 <\/td><\/td><\/tr>
Total Series C preferred stock dividends<\/td><\/td>$<\/td>55.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>-77-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 86: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>14,438 <\/td><\/td><\/td>$<\/td>10,632 <\/td><\/td><\/td>$<\/td>8,717 <\/td><\/td><\/tr>
Other loans<\/td>2,515 <\/td><\/td><\/td>1,870 <\/td><\/td><\/td>1,734 <\/td><\/td><\/tr>
Investment securities<\/td>449 <\/td><\/td><\/td>179 <\/td><\/td><\/td>182 <\/td><\/td><\/tr>
Other interest income<\/td>443 <\/td><\/td><\/td>183 <\/td><\/td><\/td>18 <\/td><\/td><\/tr>
Total interest income<\/td>17,845 <\/td><\/td><\/td>12,864 <\/td><\/td><\/td>10,651 <\/td><\/td><\/tr>
Interest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td>3,886 <\/td><\/td><\/td>1,257 <\/td><\/td><\/td>661 <\/td><\/td><\/tr>
Short-term borrowings<\/td>5 <\/td><\/td><\/td>2 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>855 <\/td><\/td><\/td>606 <\/td><\/td><\/td>473 <\/td><\/td><\/tr>
Total interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/tr>
Other income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discount and interchange revenue, net<\/td>1,447 <\/td><\/td><\/td>1,380 <\/td><\/td><\/td>1,188 <\/td><\/td><\/tr>
Protection products revenue<\/td>172 <\/td><\/td><\/td>172 <\/td><\/td><\/td>165 <\/td><\/td><\/tr>
Loan fee income<\/td>763 <\/td><\/td><\/td>632 <\/td><\/td><\/td>464 <\/td><\/td><\/tr>
Transaction processing revenue<\/td>303 <\/td><\/td><\/td>249 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
(Losses) gains on equity investments<\/td>(9)<\/td><\/td><\/td>(214)<\/td><\/td><\/td>424 <\/td><\/td><\/tr>
Other income<\/td>85 <\/td><\/td><\/td>75 <\/td><\/td><\/td>66 <\/td><\/td><\/tr>
Total other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/tr>
Other expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>2,434 <\/td><\/td><\/td>2,139 <\/td><\/td><\/td>1,986 <\/td><\/td><\/tr>
Marketing and business development<\/td>1,164 <\/td><\/td><\/td>1,035 <\/td><\/td><\/td>810 <\/td><\/td><\/tr>
Information processing and communications<\/td>608 <\/td><\/td><\/td>513 <\/td><\/td><\/td>500 <\/td><\/td><\/tr>
Professional fees<\/td>1,041 <\/td><\/td><\/td>871 <\/td><\/td><\/td>797 <\/td><\/td><\/tr>
Premises and equipment<\/td>89 <\/td><\/td><\/td>118 <\/td><\/td><\/td>92 <\/td><\/td><\/tr>
Other expense<\/td>680 <\/td><\/td><\/td>540 <\/td><\/td><\/td>620 <\/td><\/td><\/tr>
Total other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_html_without_headers":"Our Board of Directors declared the following common stock dividends during 2023, 2022 and 2021:
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Declaration Date<\/td><\/td>Record Date<\/td><\/td>Payment Date<\/td><\/td>Dividend per Share<\/td><\/tr>
2023<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
October 16, 2023<\/td><\/td>November 22, 2023<\/td><\/td>December 07, 2023<\/td><\/td>$<\/td>0.70 <\/td><\/td><\/tr>
July 17, 2023<\/td><\/td>August 24, 2023<\/td><\/td>September 07, 2023<\/td><\/td>0.70 <\/td><\/td><\/tr>
April 17, 2023<\/td><\/td>May 25, 2023<\/td><\/td>June 08, 2023<\/td><\/td>0.70 <\/td><\/td><\/tr>
January 17, 2023<\/td><\/td>February 23, 2023<\/td><\/td>March 09, 2023<\/td><\/td>0.60 <\/td><\/td><\/tr>
Total common stock dividends<\/td><\/td>$<\/td>2.70 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2022<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
October 18, 2022<\/td><\/td>November 23, 2022<\/td><\/td>December 08, 2022<\/td><\/td>$<\/td>0.60 <\/td><\/td><\/tr>
July 20, 2022<\/td><\/td>August 25, 2022<\/td><\/td>September 08, 2022<\/td><\/td>0.60 <\/td><\/td><\/tr>
April 27, 2022<\/td><\/td>May 26, 2022<\/td><\/td>June 09, 2022<\/td><\/td>0.60 <\/td><\/td><\/tr>
January 18, 2022<\/td><\/td>February 17, 2022<\/td><\/td>March 03, 2022<\/td><\/td>0.50 <\/td><\/td><\/tr>
Total common stock dividends<\/td><\/td>$<\/td>2.30 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2021<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
October 19, 2021<\/td><\/td>November 24, 2021<\/td><\/td>December 09, 2021<\/td><\/td>$<\/td>0.50 <\/td><\/td><\/tr>
July 20, 2021<\/td><\/td>August 19, 2021<\/td><\/td>September 02, 2021<\/td><\/td>0.50 <\/td><\/td><\/tr>
April 20, 2021<\/td><\/td>May 20, 2021<\/td><\/td>June 03, 2021<\/td><\/td>0.44 <\/td><\/td><\/tr>
January 19, 2021<\/td><\/td>February 18, 2021<\/td><\/td>March 04, 2021<\/td><\/td>0.44 <\/td><\/td><\/tr>
Total common stock dividends<\/td><\/td>$<\/td>1.88 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>On January 16, 2024, we declared a quarterly cash dividend on our common stock of $0.70 per share, payable on March 7, 2024 to holders of record on February 22, 2024, which is consistent with the quarterly amount paid in 2023.\nOur Board of Directors declared the following Series C preferred stock dividends during 2023, 2022 and 2021:
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Declaration Date<\/td><\/td>Record Date<\/td><\/td>Payment Date<\/td><\/td>Dividend per Depositary Share<\/td><\/tr>
2023<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
July 17, 2023<\/td><\/td>October 13, 2023<\/td><\/td>October 30, 2023<\/td><\/td>$<\/td>27.50 <\/td><\/td><\/tr>
January 17, 2023<\/td><\/td>April 14, 2023<\/td><\/td>May 01, 2023<\/td><\/td>27.50 <\/td><\/td><\/tr>
Total Series C preferred stock dividends<\/td><\/td>$<\/td>55.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2022<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
July 20, 2022<\/td><\/td>October 14, 2022<\/td><\/td>October 31, 2022<\/td><\/td>$<\/td>27.50 <\/td><\/td><\/tr>
January 18, 2022<\/td><\/td>April 15, 2022<\/td><\/td>May 02, 2022<\/td><\/td>27.50 <\/td><\/td><\/tr>
Total Series C preferred stock dividends<\/td><\/td>$<\/td>55.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
2021<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
July 20, 2021<\/td><\/td>October 15, 2021<\/td><\/td>November 01, 2021<\/td><\/td>$<\/td>27.50 <\/td><\/td><\/tr>
January 19, 2021<\/td><\/td>April 15, 2021<\/td><\/td>April 30, 2021<\/td><\/td>27.50 <\/td><\/td><\/tr>
Total Series C preferred stock dividends<\/td><\/td>$<\/td>55.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>-77-\n\n\n\n\n, \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>14,438 <\/td><\/td><\/td>$<\/td>10,632 <\/td><\/td><\/td>$<\/td>8,717 <\/td><\/td><\/tr>
Other loans<\/td>2,515 <\/td><\/td><\/td>1,870 <\/td><\/td><\/td>1,734 <\/td><\/td><\/tr>
Investment securities<\/td>449 <\/td><\/td><\/td>179 <\/td><\/td><\/td>182 <\/td><\/td><\/tr>
Other interest income<\/td>443 <\/td><\/td><\/td>183 <\/td><\/td><\/td>18 <\/td><\/td><\/tr>
Total interest income<\/td>17,845 <\/td><\/td><\/td>12,864 <\/td><\/td><\/td>10,651 <\/td><\/td><\/tr>
Interest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td>3,886 <\/td><\/td><\/td>1,257 <\/td><\/td><\/td>661 <\/td><\/td><\/tr>
Short-term borrowings<\/td>5 <\/td><\/td><\/td>2 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>855 <\/td><\/td><\/td>606 <\/td><\/td><\/td>473 <\/td><\/td><\/tr>
Total interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/tr>
Other income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discount and interchange revenue, net<\/td>1,447 <\/td><\/td><\/td>1,380 <\/td><\/td><\/td>1,188 <\/td><\/td><\/tr>
Protection products revenue<\/td>172 <\/td><\/td><\/td>172 <\/td><\/td><\/td>165 <\/td><\/td><\/tr>
Loan fee income<\/td>763 <\/td><\/td><\/td>632 <\/td><\/td><\/td>464 <\/td><\/td><\/tr>
Transaction processing revenue<\/td>303 <\/td><\/td><\/td>249 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
(Losses) gains on equity investments<\/td>(9)<\/td><\/td><\/td>(214)<\/td><\/td><\/td>424 <\/td><\/td><\/tr>
Other income<\/td>85 <\/td><\/td><\/td>75 <\/td><\/td><\/td>66 <\/td><\/td><\/tr>
Total other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/tr>
Other expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>2,434 <\/td><\/td><\/td>2,139 <\/td><\/td><\/td>1,986 <\/td><\/td><\/tr>
Marketing and business development<\/td>1,164 <\/td><\/td><\/td>1,035 <\/td><\/td><\/td>810 <\/td><\/td><\/tr>
Information processing and communications<\/td>608 <\/td><\/td><\/td>513 <\/td><\/td><\/td>500 <\/td><\/td><\/tr>
Professional fees<\/td>1,041 <\/td><\/td><\/td>871 <\/td><\/td><\/td>797 <\/td><\/td><\/tr>
Premises and equipment<\/td>89 <\/td><\/td><\/td>118 <\/td><\/td><\/td>92 <\/td><\/td><\/tr>
Other expense<\/td>680 <\/td><\/td><\/td>540 <\/td><\/td><\/td>620 <\/td><\/td><\/tr>
Total other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n"} +{"QID":"q_Ra013","Question":"What is Discover\u2019s CET1 Ratio for 2023?","ground_truth_answer":"Below is the information on the Common Equity Tier 1 (CET1) capital ratios, calculated as the ratio of Common Equity Tier 1 Capital to Risk weighted Assets, for Discover Financial Services (DFS) and Discover Bank as of December 31, 2023:\n\nDiscover Financial Services (DFS)\nCET1 Ratio: 11.3%\n\nDiscover Bank\nCET1 Ratio: 10.8%","question_type":"Ratio","page_number":"125, 126","accession_number":"0001393612-24-000010","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 125: \n16. Earnings Per Share\n\nThe following table presents the calculation of basic and diluted EPS (dollars and shares in millions, except per share amounts):| | | | | | | | | | | |\n|---:|:---------------------------------------------------------------------------------|:---------------------------------|:------|:-----|:------|:-----|:------|:------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Numerator | | | | | | | | | |\n| 4 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 5 | Preferred stock dividends | (62) | | | (62) | | | (69) | | |\n| 7 | Net income available to common stockholders | 2,878 | | | 4,312 | | | 5,353 | | |\n| 8 | Income allocated to participating securities | (19) | | | (26) | | | (30) | | |\n| 9 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 10 | Denominator | | | | | | | | | |\n| 11 | Weighted-average shares of common stock outstanding | 254 | | | 277 | | | 300 | | |\n| 12 | Effect of dilutive common stock equivalents | - | | | 1 | | | - | | |\n| 13 | Weighted-average shares of common stock outstanding and common stock equivalents | 254 | | | 278 | | | 300 | | |\n| 15 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 16 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\nAnti-dilutive securities were not material and had no impact on the computation of diluted EPS for the years ended December 31, 2023, 2022 and 2021.\n\n17. Capital Adequacy\n\nDFS is subject to the capital adequacy guidelines of the Federal Reserve. Discover Bank, the Company's banking subsidiary, is subject to various regulatory capital requirements as administered by the FDIC. Failure to meet minimum capital requirements can result in the initiation of certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could limit the Company's business activities and have a direct material effect on the financial condition and operating results of DFS and Discover Bank. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, DFS and Discover Bank must meet specific risk-based capital requirements and leverage ratios that involve quantitative measures of assets, liabilities and certain off-balance sheet items, as calculated under regulatory guidelines. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.\nDFS and Discover Bank are subject to regulatory and capital rules issued by the Federal Reserve and FDIC, respectively, under the Basel Committee's December 2010 framework (\"Basel III rules\"). Under the Basel III rules, DFS and Discover Bank are classified as \"standardized approach\" entities. Standardized approach entities are defined as U.S. banking organizations with consolidated total assets over $50 billion but not exceeding $250 billion and consolidated total on-balance sheet foreign exposure less than $10 billion. \nIn accordance with the final rule on the impact of CECL on regulatory capital, the Company has elected to phase in the impact over three years beginning in 2022. Accordingly, the Company's Common Equity Tier 1 (\"CET1\") capital ratios are higher than they otherwise would have been. The Company's CET1 capital ratios will continue to be favorably impacted by this election over the phase-in period, which ends December 31, 2024. \nAs of December 31, 2023 and 2022, DFS and Discover Bank met all Basel III minimum capital ratio requirements to which they were subject. DFS and Discover Bank also met the requirements to be considered \"well-capitalized\" under Regulation Y and prompt corrective action rules, respectively. There have been no conditions or events that management believes have changed DFS' or Discover Bank's category. To be categorized as \"well-capitalized,\" DFS and Discover Bank must maintain minimum capital ratios outlined in the table below.\n-125-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 126: The following table shows the actual capital amounts and ratios of DFS and Discover Bank and comparisons of each to the regulatory minimum and \"well-capitalized\" requirements (dollars in millions):\n| | | | | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-------|:-------|:----------------------------|:--------------------------------------------------------|:---|:------|:---|:----------|:---------|:------|:----|:-------|:----|:-------|\n| 1 | | Actual | | Minimum CapitalRequirements | Capital RequirementsTo Be Classified asWell-Capitalized | | | | | | | | | | |\n| 2 | | Amount | | Ratio(1) | Amount | | Ratio | | Amount(2) | Ratio(2) | | | | | |\n| 3 | December 31, 2023 | | | | | | | | | | | | | | |\n| 4 | Total capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 5 | Discover Financial Services | $ | 17,986 | | 13.7 | % | | $ | 10,471 | | \u22658.0% | $ | 13,088 | | \u226510.0% |\n| 6 | Discover Bank | $ | 16,856 | | 13.0 | % | | $ | 10,352 | | \u22658.0% | $ | 12,939 | | \u226510.0% |\n| 7 | Tier 1 capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 8 | Discover Financial Services | $ | 15,872 | | 12.1 | % | | $ | 7,853 | | \u22656.0% | $ | 7,853 | | \u22656.0% |\n| 9 | Discover Bank | $ | 13,910 | | 10.8 | % | | $ | 7,764 | | \u22656.0% | $ | 10,352 | | \u22658.0% |\n| 10 | Tier 1 capital (to average assets) | | | | | | | | | | | | | | |\n| 11 | Discover Financial Services | $ | 15,872 | | 10.7 | % | | $ | 5,915 | | \u22654.0% | N\/A | | N\/A | |\n| 12 | Discover Bank | $ | 13,910 | | 9.5 | % | | $ | 5,833 | | \u22654.0% | $ | 7,292 | | \u22655.0% |\n| 13 | Common Equity Tier 1 (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 14 | Discover Financial Services | $ | 14,816 | | 11.3 | % | | $ | 5,890 | | \u22654.5% | N\/A | | N\/A | |\n| 15 | Discover Bank | $ | 13,910 | | 10.8 | % | | $ | 5,823 | | \u22654.5% | $ | 8,411 | | \u22656.5% |\n| 17 | December 31, 2022 | | | | | | | | | | | | | | |\n| 18 | Total capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 19 | Discover Financial Services(3) | $ | 18,004 | | 15.8 | % | | $ | 9,139 | | \u22658.0% | $ | 11,424 | | \u226510.0% |\n| 20 | Discover Bank(3) | $ | 16,344 | | 14.5 | % | | $ | 9,024 | | \u22658.0% | $ | 11,280 | | \u226510.0% |\n| 21 | Tier 1 capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 22 | Discover Financial Services(3) | $ | 16,039 | | 14.0 | % | | $ | 6,854 | | \u22656.0% | $ | 6,854 | | \u22656.0% |\n| 23 | Discover Bank(3) | $ | 13,446 | | 11.9 | % | | $ | 6,768 | | \u22656.0% | $ | 9,024 | | \u22658.0% |\n| 24 | Tier 1 capital (to average assets) | | | | | | | | | | | | | | |\n| 25 | Discover Financial Services(3) | $ | 16,039 | | 12.5 | % | | $ | 5,147 | | \u22654.0% | N\/A | | N\/A | |\n| 26 | Discover Bank(3) | $ | 13,446 | | 10.6 | % | | $ | 5,086 | | \u22654.0% | $ | 6,357 | | \u22655.0% |\n| 27 | Common Equity Tier 1 (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 28 | Discover Financial Services(3) | $ | 14,983 | | 13.1 | % | | $ | 5,141 | | \u22654.5% | N\/A | | N\/A | |\n| 29 | Discover Bank(3) | $ | 13,446 | | 11.9 | % | | $ | 5,076 | | \u22654.5% | $ | 7,332 | | \u22656.5% |\n\n(1)Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions.\n(2)The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve's Regulation Y have been included where available.\n(3)Capital amounts and ratios have been updated to reflect the impact of the restatement described in Note 26: Immaterial Restatement of Prior Period Financial Statements. Discover Bank capital amounts and ratios presented as of December 31, 2022 have been updated from amounts previously disclosed in the Company's Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter.\nThe amount of dividends that a bank may pay in any year is subject to certain regulatory restrictions. Under the current banking regulations, a bank may not pay dividends if such a payment would leave the bank inadequately capitalized. Discover Bank paid dividends of $1.7 billion, $4.0 billion and $3.3 billion in the years ended December 31, 2023, 2022 and 2021, respectively, to DFS.\n-126-\n\n\n\n\n","context_markdown_without_headers":"\n16. Earnings Per Share\n\nThe following table presents the calculation of basic and diluted EPS (dollars and shares in millions, except per share amounts):| | | | | | | | | | | |\n|---:|:---------------------------------------------------------------------------------|:---------------------------------|:------|:-----|:------|:-----|:------|:------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Numerator | | | | | | | | | |\n| 4 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 5 | Preferred stock dividends | (62) | | | (62) | | | (69) | | |\n| 7 | Net income available to common stockholders | 2,878 | | | 4,312 | | | 5,353 | | |\n| 8 | Income allocated to participating securities | (19) | | | (26) | | | (30) | | |\n| 9 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 10 | Denominator | | | | | | | | | |\n| 11 | Weighted-average shares of common stock outstanding | 254 | | | 277 | | | 300 | | |\n| 12 | Effect of dilutive common stock equivalents | - | | | 1 | | | - | | |\n| 13 | Weighted-average shares of common stock outstanding and common stock equivalents | 254 | | | 278 | | | 300 | | |\n| 15 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 16 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\nAnti-dilutive securities were not material and had no impact on the computation of diluted EPS for the years ended December 31, 2023, 2022 and 2021.\n\n17. Capital Adequacy\n\nDFS is subject to the capital adequacy guidelines of the Federal Reserve. Discover Bank, the Company's banking subsidiary, is subject to various regulatory capital requirements as administered by the FDIC. Failure to meet minimum capital requirements can result in the initiation of certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could limit the Company's business activities and have a direct material effect on the financial condition and operating results of DFS and Discover Bank. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, DFS and Discover Bank must meet specific risk-based capital requirements and leverage ratios that involve quantitative measures of assets, liabilities and certain off-balance sheet items, as calculated under regulatory guidelines. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.\nDFS and Discover Bank are subject to regulatory and capital rules issued by the Federal Reserve and FDIC, respectively, under the Basel Committee's December 2010 framework (\"Basel III rules\"). Under the Basel III rules, DFS and Discover Bank are classified as \"standardized approach\" entities. Standardized approach entities are defined as U.S. banking organizations with consolidated total assets over $50 billion but not exceeding $250 billion and consolidated total on-balance sheet foreign exposure less than $10 billion. \nIn accordance with the final rule on the impact of CECL on regulatory capital, the Company has elected to phase in the impact over three years beginning in 2022. Accordingly, the Company's Common Equity Tier 1 (\"CET1\") capital ratios are higher than they otherwise would have been. The Company's CET1 capital ratios will continue to be favorably impacted by this election over the phase-in period, which ends December 31, 2024. \nAs of December 31, 2023 and 2022, DFS and Discover Bank met all Basel III minimum capital ratio requirements to which they were subject. DFS and Discover Bank also met the requirements to be considered \"well-capitalized\" under Regulation Y and prompt corrective action rules, respectively. There have been no conditions or events that management believes have changed DFS' or Discover Bank's category. To be categorized as \"well-capitalized,\" DFS and Discover Bank must maintain minimum capital ratios outlined in the table below.\n-125-\n\n\n\n\n, The following table shows the actual capital amounts and ratios of DFS and Discover Bank and comparisons of each to the regulatory minimum and \"well-capitalized\" requirements (dollars in millions):\n| | | | | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-------|:-------|:----------------------------|:--------------------------------------------------------|:---|:------|:---|:----------|:---------|:------|:----|:-------|:----|:-------|\n| 1 | | Actual | | Minimum CapitalRequirements | Capital RequirementsTo Be Classified asWell-Capitalized | | | | | | | | | | |\n| 2 | | Amount | | Ratio(1) | Amount | | Ratio | | Amount(2) | Ratio(2) | | | | | |\n| 3 | December 31, 2023 | | | | | | | | | | | | | | |\n| 4 | Total capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 5 | Discover Financial Services | $ | 17,986 | | 13.7 | % | | $ | 10,471 | | \u22658.0% | $ | 13,088 | | \u226510.0% |\n| 6 | Discover Bank | $ | 16,856 | | 13.0 | % | | $ | 10,352 | | \u22658.0% | $ | 12,939 | | \u226510.0% |\n| 7 | Tier 1 capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 8 | Discover Financial Services | $ | 15,872 | | 12.1 | % | | $ | 7,853 | | \u22656.0% | $ | 7,853 | | \u22656.0% |\n| 9 | Discover Bank | $ | 13,910 | | 10.8 | % | | $ | 7,764 | | \u22656.0% | $ | 10,352 | | \u22658.0% |\n| 10 | Tier 1 capital (to average assets) | | | | | | | | | | | | | | |\n| 11 | Discover Financial Services | $ | 15,872 | | 10.7 | % | | $ | 5,915 | | \u22654.0% | N\/A | | N\/A | |\n| 12 | Discover Bank | $ | 13,910 | | 9.5 | % | | $ | 5,833 | | \u22654.0% | $ | 7,292 | | \u22655.0% |\n| 13 | Common Equity Tier 1 (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 14 | Discover Financial Services | $ | 14,816 | | 11.3 | % | | $ | 5,890 | | \u22654.5% | N\/A | | N\/A | |\n| 15 | Discover Bank | $ | 13,910 | | 10.8 | % | | $ | 5,823 | | \u22654.5% | $ | 8,411 | | \u22656.5% |\n| 17 | December 31, 2022 | | | | | | | | | | | | | | |\n| 18 | Total capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 19 | Discover Financial Services(3) | $ | 18,004 | | 15.8 | % | | $ | 9,139 | | \u22658.0% | $ | 11,424 | | \u226510.0% |\n| 20 | Discover Bank(3) | $ | 16,344 | | 14.5 | % | | $ | 9,024 | | \u22658.0% | $ | 11,280 | | \u226510.0% |\n| 21 | Tier 1 capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 22 | Discover Financial Services(3) | $ | 16,039 | | 14.0 | % | | $ | 6,854 | | \u22656.0% | $ | 6,854 | | \u22656.0% |\n| 23 | Discover Bank(3) | $ | 13,446 | | 11.9 | % | | $ | 6,768 | | \u22656.0% | $ | 9,024 | | \u22658.0% |\n| 24 | Tier 1 capital (to average assets) | | | | | | | | | | | | | | |\n| 25 | Discover Financial Services(3) | $ | 16,039 | | 12.5 | % | | $ | 5,147 | | \u22654.0% | N\/A | | N\/A | |\n| 26 | Discover Bank(3) | $ | 13,446 | | 10.6 | % | | $ | 5,086 | | \u22654.0% | $ | 6,357 | | \u22655.0% |\n| 27 | Common Equity Tier 1 (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 28 | Discover Financial Services(3) | $ | 14,983 | | 13.1 | % | | $ | 5,141 | | \u22654.5% | N\/A | | N\/A | |\n| 29 | Discover Bank(3) | $ | 13,446 | | 11.9 | % | | $ | 5,076 | | \u22654.5% | $ | 7,332 | | \u22656.5% |\n\n(1)Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions.\n(2)The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve's Regulation Y have been included where available.\n(3)Capital amounts and ratios have been updated to reflect the impact of the restatement described in Note 26: Immaterial Restatement of Prior Period Financial Statements. Discover Bank capital amounts and ratios presented as of December 31, 2022 have been updated from amounts previously disclosed in the Company's Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter.\nThe amount of dividends that a bank may pay in any year is subject to certain regulatory restrictions. Under the current banking regulations, a bank may not pay dividends if such a payment would leave the bank inadequately capitalized. Discover Bank paid dividends of $1.7 billion, $4.0 billion and $3.3 billion in the years ended December 31, 2023, 2022 and 2021, respectively, to DFS.\n-126-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 125: \n16. Earnings Per Share\n\nThe following table presents the calculation of basic and diluted EPS (dollars and shares in millions, except per share amounts):
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Numerator<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>(62)<\/td><\/td><\/td>(62)<\/td><\/td><\/td>(69)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income available to common stockholders<\/td>2,878 <\/td><\/td><\/td>4,312 <\/td><\/td><\/td>5,353 <\/td><\/td><\/tr>
Income allocated to participating securities<\/td>(19)<\/td><\/td><\/td>(26)<\/td><\/td><\/td>(30)<\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Denominator<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average shares of common stock outstanding<\/td>254 <\/td><\/td><\/td>277 <\/td><\/td><\/td>300 <\/td><\/td><\/tr>
Effect of dilutive common stock equivalents<\/td>- <\/td><\/td><\/td>1 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Weighted-average shares of common stock outstanding and common stock equivalents<\/td>254 <\/td><\/td><\/td>278 <\/td><\/td><\/td>300 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>Anti-dilutive securities were not material and had no impact on the computation of diluted EPS for the years ended December 31, 2023, 2022 and 2021.\n\n17. Capital Adequacy\n\nDFS is subject to the capital adequacy guidelines of the Federal Reserve. Discover Bank, the Company's banking subsidiary, is subject to various regulatory capital requirements as administered by the FDIC. Failure to meet minimum capital requirements can result in the initiation of certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could limit the Company's business activities and have a direct material effect on the financial condition and operating results of DFS and Discover Bank. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, DFS and Discover Bank must meet specific risk-based capital requirements and leverage ratios that involve quantitative measures of assets, liabilities and certain off-balance sheet items, as calculated under regulatory guidelines. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.\nDFS and Discover Bank are subject to regulatory and capital rules issued by the Federal Reserve and FDIC, respectively, under the Basel Committee's December 2010 framework (\"Basel III rules\"). Under the Basel III rules, DFS and Discover Bank are classified as \"standardized approach\" entities. Standardized approach entities are defined as U.S. banking organizations with consolidated total assets over $50 billion but not exceeding $250 billion and consolidated total on-balance sheet foreign exposure less than $10 billion. \nIn accordance with the final rule on the impact of CECL on regulatory capital, the Company has elected to phase in the impact over three years beginning in 2022. Accordingly, the Company's Common Equity Tier 1 (\"CET1\") capital ratios are higher than they otherwise would have been. The Company's CET1 capital ratios will continue to be favorably impacted by this election over the phase-in period, which ends December 31, 2024. \nAs of December 31, 2023 and 2022, DFS and Discover Bank met all Basel III minimum capital ratio requirements to which they were subject. DFS and Discover Bank also met the requirements to be considered \"well-capitalized\" under Regulation Y and prompt corrective action rules, respectively. There have been no conditions or events that management believes have changed DFS' or Discover Bank's category. To be categorized as \"well-capitalized,\" DFS and Discover Bank must maintain minimum capital ratios outlined in the table below.\n-125-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 126: The following table shows the actual capital amounts and ratios of DFS and Discover Bank and comparisons of each to the regulatory minimum and \"well-capitalized\" requirements (dollars in millions):\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Actual<\/td><\/td>Minimum CapitalRequirements<\/td><\/td>Capital RequirementsTo Be Classified asWell-Capitalized<\/td><\/tr>
<\/td>Amount<\/td><\/td>Ratio(1)<\/td><\/td>Amount<\/td><\/td>Ratio<\/td><\/td>Amount(2)<\/td><\/td>Ratio(2)<\/td><\/tr>
December 31, 2023<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>17,986 <\/td><\/td><\/td>13.7 <\/td>%<\/td><\/td>$<\/td>10,471 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>13,088 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Discover Bank<\/td>$<\/td>16,856 <\/td><\/td><\/td>13.0 <\/td>%<\/td><\/td>$<\/td>10,352 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>12,939 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Tier 1 capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>15,872 <\/td><\/td><\/td>12.1 <\/td>%<\/td><\/td>$<\/td>7,853 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>7,853 <\/td><\/td><\/td>\u22656.0%<\/td><\/tr>
Discover Bank<\/td>$<\/td>13,910 <\/td><\/td><\/td>10.8 <\/td>%<\/td><\/td>$<\/td>7,764 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>10,352 <\/td><\/td><\/td>\u22658.0%<\/td><\/tr>
Tier 1 capital (to average assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>15,872 <\/td><\/td><\/td>10.7 <\/td>%<\/td><\/td>$<\/td>5,915 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank<\/td>$<\/td>13,910 <\/td><\/td><\/td>9.5 <\/td>%<\/td><\/td>$<\/td>5,833 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>$<\/td>7,292 <\/td><\/td><\/td>\u22655.0%<\/td><\/tr>
Common Equity Tier 1 (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>14,816 <\/td><\/td><\/td>11.3 <\/td>%<\/td><\/td>$<\/td>5,890 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank<\/td>$<\/td>13,910 <\/td><\/td><\/td>10.8 <\/td>%<\/td><\/td>$<\/td>5,823 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>$<\/td>8,411 <\/td><\/td><\/td>\u22656.5%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
December 31, 2022<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>18,004 <\/td><\/td><\/td>15.8 <\/td>%<\/td><\/td>$<\/td>9,139 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>11,424 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>16,344 <\/td><\/td><\/td>14.5 <\/td>%<\/td><\/td>$<\/td>9,024 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>11,280 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Tier 1 capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>16,039 <\/td><\/td><\/td>14.0 <\/td>%<\/td><\/td>$<\/td>6,854 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>6,854 <\/td><\/td><\/td>\u22656.0%<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>13,446 <\/td><\/td><\/td>11.9 <\/td>%<\/td><\/td>$<\/td>6,768 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>9,024 <\/td><\/td><\/td>\u22658.0%<\/td><\/tr>
Tier 1 capital (to average assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>16,039 <\/td><\/td><\/td>12.5 <\/td>%<\/td><\/td>$<\/td>5,147 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>13,446 <\/td><\/td><\/td>10.6 <\/td>%<\/td><\/td>$<\/td>5,086 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>$<\/td>6,357 <\/td><\/td><\/td>\u22655.0%<\/td><\/tr>
Common Equity Tier 1 (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>14,983 <\/td><\/td><\/td>13.1 <\/td>%<\/td><\/td>$<\/td>5,141 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>13,446 <\/td><\/td><\/td>11.9 <\/td>%<\/td><\/td>$<\/td>5,076 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>$<\/td>7,332 <\/td><\/td><\/td>\u22656.5%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\n(1)Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions.\n(2)The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve's Regulation Y have been included where available.\n(3)Capital amounts and ratios have been updated to reflect the impact of the restatement described in Note 26: Immaterial Restatement of Prior Period Financial Statements. Discover Bank capital amounts and ratios presented as of December 31, 2022 have been updated from amounts previously disclosed in the Company's Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter.\nThe amount of dividends that a bank may pay in any year is subject to certain regulatory restrictions. Under the current banking regulations, a bank may not pay dividends if such a payment would leave the bank inadequately capitalized. Discover Bank paid dividends of $1.7 billion, $4.0 billion and $3.3 billion in the years ended December 31, 2023, 2022 and 2021, respectively, to DFS.\n-126-\n\n\n\n\n","context_html_without_headers":"\n16. Earnings Per Share\n\nThe following table presents the calculation of basic and diluted EPS (dollars and shares in millions, except per share amounts):
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Numerator<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>(62)<\/td><\/td><\/td>(62)<\/td><\/td><\/td>(69)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income available to common stockholders<\/td>2,878 <\/td><\/td><\/td>4,312 <\/td><\/td><\/td>5,353 <\/td><\/td><\/tr>
Income allocated to participating securities<\/td>(19)<\/td><\/td><\/td>(26)<\/td><\/td><\/td>(30)<\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Denominator<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average shares of common stock outstanding<\/td>254 <\/td><\/td><\/td>277 <\/td><\/td><\/td>300 <\/td><\/td><\/tr>
Effect of dilutive common stock equivalents<\/td>- <\/td><\/td><\/td>1 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Weighted-average shares of common stock outstanding and common stock equivalents<\/td>254 <\/td><\/td><\/td>278 <\/td><\/td><\/td>300 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>Anti-dilutive securities were not material and had no impact on the computation of diluted EPS for the years ended December 31, 2023, 2022 and 2021.\n\n17. Capital Adequacy\n\nDFS is subject to the capital adequacy guidelines of the Federal Reserve. Discover Bank, the Company's banking subsidiary, is subject to various regulatory capital requirements as administered by the FDIC. Failure to meet minimum capital requirements can result in the initiation of certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could limit the Company's business activities and have a direct material effect on the financial condition and operating results of DFS and Discover Bank. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, DFS and Discover Bank must meet specific risk-based capital requirements and leverage ratios that involve quantitative measures of assets, liabilities and certain off-balance sheet items, as calculated under regulatory guidelines. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.\nDFS and Discover Bank are subject to regulatory and capital rules issued by the Federal Reserve and FDIC, respectively, under the Basel Committee's December 2010 framework (\"Basel III rules\"). Under the Basel III rules, DFS and Discover Bank are classified as \"standardized approach\" entities. Standardized approach entities are defined as U.S. banking organizations with consolidated total assets over $50 billion but not exceeding $250 billion and consolidated total on-balance sheet foreign exposure less than $10 billion. \nIn accordance with the final rule on the impact of CECL on regulatory capital, the Company has elected to phase in the impact over three years beginning in 2022. Accordingly, the Company's Common Equity Tier 1 (\"CET1\") capital ratios are higher than they otherwise would have been. The Company's CET1 capital ratios will continue to be favorably impacted by this election over the phase-in period, which ends December 31, 2024. \nAs of December 31, 2023 and 2022, DFS and Discover Bank met all Basel III minimum capital ratio requirements to which they were subject. DFS and Discover Bank also met the requirements to be considered \"well-capitalized\" under Regulation Y and prompt corrective action rules, respectively. There have been no conditions or events that management believes have changed DFS' or Discover Bank's category. To be categorized as \"well-capitalized,\" DFS and Discover Bank must maintain minimum capital ratios outlined in the table below.\n-125-\n\n\n\n\n, The following table shows the actual capital amounts and ratios of DFS and Discover Bank and comparisons of each to the regulatory minimum and \"well-capitalized\" requirements (dollars in millions):\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Actual<\/td><\/td>Minimum CapitalRequirements<\/td><\/td>Capital RequirementsTo Be Classified asWell-Capitalized<\/td><\/tr>
<\/td>Amount<\/td><\/td>Ratio(1)<\/td><\/td>Amount<\/td><\/td>Ratio<\/td><\/td>Amount(2)<\/td><\/td>Ratio(2)<\/td><\/tr>
December 31, 2023<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>17,986 <\/td><\/td><\/td>13.7 <\/td>%<\/td><\/td>$<\/td>10,471 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>13,088 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Discover Bank<\/td>$<\/td>16,856 <\/td><\/td><\/td>13.0 <\/td>%<\/td><\/td>$<\/td>10,352 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>12,939 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Tier 1 capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>15,872 <\/td><\/td><\/td>12.1 <\/td>%<\/td><\/td>$<\/td>7,853 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>7,853 <\/td><\/td><\/td>\u22656.0%<\/td><\/tr>
Discover Bank<\/td>$<\/td>13,910 <\/td><\/td><\/td>10.8 <\/td>%<\/td><\/td>$<\/td>7,764 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>10,352 <\/td><\/td><\/td>\u22658.0%<\/td><\/tr>
Tier 1 capital (to average assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>15,872 <\/td><\/td><\/td>10.7 <\/td>%<\/td><\/td>$<\/td>5,915 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank<\/td>$<\/td>13,910 <\/td><\/td><\/td>9.5 <\/td>%<\/td><\/td>$<\/td>5,833 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>$<\/td>7,292 <\/td><\/td><\/td>\u22655.0%<\/td><\/tr>
Common Equity Tier 1 (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>14,816 <\/td><\/td><\/td>11.3 <\/td>%<\/td><\/td>$<\/td>5,890 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank<\/td>$<\/td>13,910 <\/td><\/td><\/td>10.8 <\/td>%<\/td><\/td>$<\/td>5,823 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>$<\/td>8,411 <\/td><\/td><\/td>\u22656.5%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
December 31, 2022<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>18,004 <\/td><\/td><\/td>15.8 <\/td>%<\/td><\/td>$<\/td>9,139 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>11,424 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>16,344 <\/td><\/td><\/td>14.5 <\/td>%<\/td><\/td>$<\/td>9,024 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>11,280 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Tier 1 capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>16,039 <\/td><\/td><\/td>14.0 <\/td>%<\/td><\/td>$<\/td>6,854 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>6,854 <\/td><\/td><\/td>\u22656.0%<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>13,446 <\/td><\/td><\/td>11.9 <\/td>%<\/td><\/td>$<\/td>6,768 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>9,024 <\/td><\/td><\/td>\u22658.0%<\/td><\/tr>
Tier 1 capital (to average assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>16,039 <\/td><\/td><\/td>12.5 <\/td>%<\/td><\/td>$<\/td>5,147 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>13,446 <\/td><\/td><\/td>10.6 <\/td>%<\/td><\/td>$<\/td>5,086 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>$<\/td>6,357 <\/td><\/td><\/td>\u22655.0%<\/td><\/tr>
Common Equity Tier 1 (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>14,983 <\/td><\/td><\/td>13.1 <\/td>%<\/td><\/td>$<\/td>5,141 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>13,446 <\/td><\/td><\/td>11.9 <\/td>%<\/td><\/td>$<\/td>5,076 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>$<\/td>7,332 <\/td><\/td><\/td>\u22656.5%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\n(1)Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions.\n(2)The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve's Regulation Y have been included where available.\n(3)Capital amounts and ratios have been updated to reflect the impact of the restatement described in Note 26: Immaterial Restatement of Prior Period Financial Statements. Discover Bank capital amounts and ratios presented as of December 31, 2022 have been updated from amounts previously disclosed in the Company's Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter.\nThe amount of dividends that a bank may pay in any year is subject to certain regulatory restrictions. Under the current banking regulations, a bank may not pay dividends if such a payment would leave the bank inadequately capitalized. Discover Bank paid dividends of $1.7 billion, $4.0 billion and $3.3 billion in the years ended December 31, 2023, 2022 and 2021, respectively, to DFS.\n-126-\n\n\n\n\n"} +{"QID":"q_Ra014","Question":"How does Discover\u2019s CET1 compare to regulatory minimums?","ground_truth_answer":"DFS: With a CET1 ratio of 11.3%, DFS comfortably exceeds the regulatory minimum requirement of 4.5%. Indicating that it is well-positioned to absorb potential losses while maintaining financial stability.\nDiscover Bank: Discover Bank's CET1 ratio of 10.8% is above the regulatory minimum requirement of 4.5% and also exceeds the well-capitalized threshold of 6.5%. This reflects strong capital adequacy and a solid cushion above the required levels, which supports its ability to manage risks and comply with regulatory standards.","question_type":"Ratio","page_number":"125, 126","accession_number":"0001393612-24-000010","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 125: \n16. Earnings Per Share\n\nThe following table presents the calculation of basic and diluted EPS (dollars and shares in millions, except per share amounts):| | | | | | | | | | | |\n|---:|:---------------------------------------------------------------------------------|:---------------------------------|:------|:-----|:------|:-----|:------|:------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Numerator | | | | | | | | | |\n| 4 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 5 | Preferred stock dividends | (62) | | | (62) | | | (69) | | |\n| 7 | Net income available to common stockholders | 2,878 | | | 4,312 | | | 5,353 | | |\n| 8 | Income allocated to participating securities | (19) | | | (26) | | | (30) | | |\n| 9 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 10 | Denominator | | | | | | | | | |\n| 11 | Weighted-average shares of common stock outstanding | 254 | | | 277 | | | 300 | | |\n| 12 | Effect of dilutive common stock equivalents | - | | | 1 | | | - | | |\n| 13 | Weighted-average shares of common stock outstanding and common stock equivalents | 254 | | | 278 | | | 300 | | |\n| 15 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 16 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\nAnti-dilutive securities were not material and had no impact on the computation of diluted EPS for the years ended December 31, 2023, 2022 and 2021.\n\n17. Capital Adequacy\n\nDFS is subject to the capital adequacy guidelines of the Federal Reserve. Discover Bank, the Company's banking subsidiary, is subject to various regulatory capital requirements as administered by the FDIC. Failure to meet minimum capital requirements can result in the initiation of certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could limit the Company's business activities and have a direct material effect on the financial condition and operating results of DFS and Discover Bank. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, DFS and Discover Bank must meet specific risk-based capital requirements and leverage ratios that involve quantitative measures of assets, liabilities and certain off-balance sheet items, as calculated under regulatory guidelines. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.\nDFS and Discover Bank are subject to regulatory and capital rules issued by the Federal Reserve and FDIC, respectively, under the Basel Committee's December 2010 framework (\"Basel III rules\"). Under the Basel III rules, DFS and Discover Bank are classified as \"standardized approach\" entities. Standardized approach entities are defined as U.S. banking organizations with consolidated total assets over $50 billion but not exceeding $250 billion and consolidated total on-balance sheet foreign exposure less than $10 billion. \nIn accordance with the final rule on the impact of CECL on regulatory capital, the Company has elected to phase in the impact over three years beginning in 2022. Accordingly, the Company's Common Equity Tier 1 (\"CET1\") capital ratios are higher than they otherwise would have been. The Company's CET1 capital ratios will continue to be favorably impacted by this election over the phase-in period, which ends December 31, 2024. \nAs of December 31, 2023 and 2022, DFS and Discover Bank met all Basel III minimum capital ratio requirements to which they were subject. DFS and Discover Bank also met the requirements to be considered \"well-capitalized\" under Regulation Y and prompt corrective action rules, respectively. There have been no conditions or events that management believes have changed DFS' or Discover Bank's category. To be categorized as \"well-capitalized,\" DFS and Discover Bank must maintain minimum capital ratios outlined in the table below.\n-125-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 126: The following table shows the actual capital amounts and ratios of DFS and Discover Bank and comparisons of each to the regulatory minimum and \"well-capitalized\" requirements (dollars in millions):\n| | | | | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-------|:-------|:----------------------------|:--------------------------------------------------------|:---|:------|:---|:----------|:---------|:------|:----|:-------|:----|:-------|\n| 1 | | Actual | | Minimum CapitalRequirements | Capital RequirementsTo Be Classified asWell-Capitalized | | | | | | | | | | |\n| 2 | | Amount | | Ratio(1) | Amount | | Ratio | | Amount(2) | Ratio(2) | | | | | |\n| 3 | December 31, 2023 | | | | | | | | | | | | | | |\n| 4 | Total capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 5 | Discover Financial Services | $ | 17,986 | | 13.7 | % | | $ | 10,471 | | \u22658.0% | $ | 13,088 | | \u226510.0% |\n| 6 | Discover Bank | $ | 16,856 | | 13.0 | % | | $ | 10,352 | | \u22658.0% | $ | 12,939 | | \u226510.0% |\n| 7 | Tier 1 capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 8 | Discover Financial Services | $ | 15,872 | | 12.1 | % | | $ | 7,853 | | \u22656.0% | $ | 7,853 | | \u22656.0% |\n| 9 | Discover Bank | $ | 13,910 | | 10.8 | % | | $ | 7,764 | | \u22656.0% | $ | 10,352 | | \u22658.0% |\n| 10 | Tier 1 capital (to average assets) | | | | | | | | | | | | | | |\n| 11 | Discover Financial Services | $ | 15,872 | | 10.7 | % | | $ | 5,915 | | \u22654.0% | N\/A | | N\/A | |\n| 12 | Discover Bank | $ | 13,910 | | 9.5 | % | | $ | 5,833 | | \u22654.0% | $ | 7,292 | | \u22655.0% |\n| 13 | Common Equity Tier 1 (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 14 | Discover Financial Services | $ | 14,816 | | 11.3 | % | | $ | 5,890 | | \u22654.5% | N\/A | | N\/A | |\n| 15 | Discover Bank | $ | 13,910 | | 10.8 | % | | $ | 5,823 | | \u22654.5% | $ | 8,411 | | \u22656.5% |\n| 17 | December 31, 2022 | | | | | | | | | | | | | | |\n| 18 | Total capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 19 | Discover Financial Services(3) | $ | 18,004 | | 15.8 | % | | $ | 9,139 | | \u22658.0% | $ | 11,424 | | \u226510.0% |\n| 20 | Discover Bank(3) | $ | 16,344 | | 14.5 | % | | $ | 9,024 | | \u22658.0% | $ | 11,280 | | \u226510.0% |\n| 21 | Tier 1 capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 22 | Discover Financial Services(3) | $ | 16,039 | | 14.0 | % | | $ | 6,854 | | \u22656.0% | $ | 6,854 | | \u22656.0% |\n| 23 | Discover Bank(3) | $ | 13,446 | | 11.9 | % | | $ | 6,768 | | \u22656.0% | $ | 9,024 | | \u22658.0% |\n| 24 | Tier 1 capital (to average assets) | | | | | | | | | | | | | | |\n| 25 | Discover Financial Services(3) | $ | 16,039 | | 12.5 | % | | $ | 5,147 | | \u22654.0% | N\/A | | N\/A | |\n| 26 | Discover Bank(3) | $ | 13,446 | | 10.6 | % | | $ | 5,086 | | \u22654.0% | $ | 6,357 | | \u22655.0% |\n| 27 | Common Equity Tier 1 (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 28 | Discover Financial Services(3) | $ | 14,983 | | 13.1 | % | | $ | 5,141 | | \u22654.5% | N\/A | | N\/A | |\n| 29 | Discover Bank(3) | $ | 13,446 | | 11.9 | % | | $ | 5,076 | | \u22654.5% | $ | 7,332 | | \u22656.5% |\n\n(1)Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions.\n(2)The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve's Regulation Y have been included where available.\n(3)Capital amounts and ratios have been updated to reflect the impact of the restatement described in Note 26: Immaterial Restatement of Prior Period Financial Statements. Discover Bank capital amounts and ratios presented as of December 31, 2022 have been updated from amounts previously disclosed in the Company's Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter.\nThe amount of dividends that a bank may pay in any year is subject to certain regulatory restrictions. Under the current banking regulations, a bank may not pay dividends if such a payment would leave the bank inadequately capitalized. Discover Bank paid dividends of $1.7 billion, $4.0 billion and $3.3 billion in the years ended December 31, 2023, 2022 and 2021, respectively, to DFS.\n-126-\n\n\n\n\n","context_markdown_without_headers":"\n16. Earnings Per Share\n\nThe following table presents the calculation of basic and diluted EPS (dollars and shares in millions, except per share amounts):| | | | | | | | | | | |\n|---:|:---------------------------------------------------------------------------------|:---------------------------------|:------|:-----|:------|:-----|:------|:------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Numerator | | | | | | | | | |\n| 4 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 5 | Preferred stock dividends | (62) | | | (62) | | | (69) | | |\n| 7 | Net income available to common stockholders | 2,878 | | | 4,312 | | | 5,353 | | |\n| 8 | Income allocated to participating securities | (19) | | | (26) | | | (30) | | |\n| 9 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 10 | Denominator | | | | | | | | | |\n| 11 | Weighted-average shares of common stock outstanding | 254 | | | 277 | | | 300 | | |\n| 12 | Effect of dilutive common stock equivalents | - | | | 1 | | | - | | |\n| 13 | Weighted-average shares of common stock outstanding and common stock equivalents | 254 | | | 278 | | | 300 | | |\n| 15 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 16 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\nAnti-dilutive securities were not material and had no impact on the computation of diluted EPS for the years ended December 31, 2023, 2022 and 2021.\n\n17. Capital Adequacy\n\nDFS is subject to the capital adequacy guidelines of the Federal Reserve. Discover Bank, the Company's banking subsidiary, is subject to various regulatory capital requirements as administered by the FDIC. Failure to meet minimum capital requirements can result in the initiation of certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could limit the Company's business activities and have a direct material effect on the financial condition and operating results of DFS and Discover Bank. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, DFS and Discover Bank must meet specific risk-based capital requirements and leverage ratios that involve quantitative measures of assets, liabilities and certain off-balance sheet items, as calculated under regulatory guidelines. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.\nDFS and Discover Bank are subject to regulatory and capital rules issued by the Federal Reserve and FDIC, respectively, under the Basel Committee's December 2010 framework (\"Basel III rules\"). Under the Basel III rules, DFS and Discover Bank are classified as \"standardized approach\" entities. Standardized approach entities are defined as U.S. banking organizations with consolidated total assets over $50 billion but not exceeding $250 billion and consolidated total on-balance sheet foreign exposure less than $10 billion. \nIn accordance with the final rule on the impact of CECL on regulatory capital, the Company has elected to phase in the impact over three years beginning in 2022. Accordingly, the Company's Common Equity Tier 1 (\"CET1\") capital ratios are higher than they otherwise would have been. The Company's CET1 capital ratios will continue to be favorably impacted by this election over the phase-in period, which ends December 31, 2024. \nAs of December 31, 2023 and 2022, DFS and Discover Bank met all Basel III minimum capital ratio requirements to which they were subject. DFS and Discover Bank also met the requirements to be considered \"well-capitalized\" under Regulation Y and prompt corrective action rules, respectively. There have been no conditions or events that management believes have changed DFS' or Discover Bank's category. To be categorized as \"well-capitalized,\" DFS and Discover Bank must maintain minimum capital ratios outlined in the table below.\n-125-\n\n\n\n\n, The following table shows the actual capital amounts and ratios of DFS and Discover Bank and comparisons of each to the regulatory minimum and \"well-capitalized\" requirements (dollars in millions):\n| | | | | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-------|:-------|:----------------------------|:--------------------------------------------------------|:---|:------|:---|:----------|:---------|:------|:----|:-------|:----|:-------|\n| 1 | | Actual | | Minimum CapitalRequirements | Capital RequirementsTo Be Classified asWell-Capitalized | | | | | | | | | | |\n| 2 | | Amount | | Ratio(1) | Amount | | Ratio | | Amount(2) | Ratio(2) | | | | | |\n| 3 | December 31, 2023 | | | | | | | | | | | | | | |\n| 4 | Total capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 5 | Discover Financial Services | $ | 17,986 | | 13.7 | % | | $ | 10,471 | | \u22658.0% | $ | 13,088 | | \u226510.0% |\n| 6 | Discover Bank | $ | 16,856 | | 13.0 | % | | $ | 10,352 | | \u22658.0% | $ | 12,939 | | \u226510.0% |\n| 7 | Tier 1 capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 8 | Discover Financial Services | $ | 15,872 | | 12.1 | % | | $ | 7,853 | | \u22656.0% | $ | 7,853 | | \u22656.0% |\n| 9 | Discover Bank | $ | 13,910 | | 10.8 | % | | $ | 7,764 | | \u22656.0% | $ | 10,352 | | \u22658.0% |\n| 10 | Tier 1 capital (to average assets) | | | | | | | | | | | | | | |\n| 11 | Discover Financial Services | $ | 15,872 | | 10.7 | % | | $ | 5,915 | | \u22654.0% | N\/A | | N\/A | |\n| 12 | Discover Bank | $ | 13,910 | | 9.5 | % | | $ | 5,833 | | \u22654.0% | $ | 7,292 | | \u22655.0% |\n| 13 | Common Equity Tier 1 (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 14 | Discover Financial Services | $ | 14,816 | | 11.3 | % | | $ | 5,890 | | \u22654.5% | N\/A | | N\/A | |\n| 15 | Discover Bank | $ | 13,910 | | 10.8 | % | | $ | 5,823 | | \u22654.5% | $ | 8,411 | | \u22656.5% |\n| 17 | December 31, 2022 | | | | | | | | | | | | | | |\n| 18 | Total capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 19 | Discover Financial Services(3) | $ | 18,004 | | 15.8 | % | | $ | 9,139 | | \u22658.0% | $ | 11,424 | | \u226510.0% |\n| 20 | Discover Bank(3) | $ | 16,344 | | 14.5 | % | | $ | 9,024 | | \u22658.0% | $ | 11,280 | | \u226510.0% |\n| 21 | Tier 1 capital (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 22 | Discover Financial Services(3) | $ | 16,039 | | 14.0 | % | | $ | 6,854 | | \u22656.0% | $ | 6,854 | | \u22656.0% |\n| 23 | Discover Bank(3) | $ | 13,446 | | 11.9 | % | | $ | 6,768 | | \u22656.0% | $ | 9,024 | | \u22658.0% |\n| 24 | Tier 1 capital (to average assets) | | | | | | | | | | | | | | |\n| 25 | Discover Financial Services(3) | $ | 16,039 | | 12.5 | % | | $ | 5,147 | | \u22654.0% | N\/A | | N\/A | |\n| 26 | Discover Bank(3) | $ | 13,446 | | 10.6 | % | | $ | 5,086 | | \u22654.0% | $ | 6,357 | | \u22655.0% |\n| 27 | Common Equity Tier 1 (to risk-weighted assets) | | | | | | | | | | | | | | |\n| 28 | Discover Financial Services(3) | $ | 14,983 | | 13.1 | % | | $ | 5,141 | | \u22654.5% | N\/A | | N\/A | |\n| 29 | Discover Bank(3) | $ | 13,446 | | 11.9 | % | | $ | 5,076 | | \u22654.5% | $ | 7,332 | | \u22656.5% |\n\n(1)Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions.\n(2)The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve's Regulation Y have been included where available.\n(3)Capital amounts and ratios have been updated to reflect the impact of the restatement described in Note 26: Immaterial Restatement of Prior Period Financial Statements. Discover Bank capital amounts and ratios presented as of December 31, 2022 have been updated from amounts previously disclosed in the Company's Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter.\nThe amount of dividends that a bank may pay in any year is subject to certain regulatory restrictions. Under the current banking regulations, a bank may not pay dividends if such a payment would leave the bank inadequately capitalized. Discover Bank paid dividends of $1.7 billion, $4.0 billion and $3.3 billion in the years ended December 31, 2023, 2022 and 2021, respectively, to DFS.\n-126-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 125: \n16. Earnings Per Share\n\nThe following table presents the calculation of basic and diluted EPS (dollars and shares in millions, except per share amounts):
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Numerator<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>(62)<\/td><\/td><\/td>(62)<\/td><\/td><\/td>(69)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income available to common stockholders<\/td>2,878 <\/td><\/td><\/td>4,312 <\/td><\/td><\/td>5,353 <\/td><\/td><\/tr>
Income allocated to participating securities<\/td>(19)<\/td><\/td><\/td>(26)<\/td><\/td><\/td>(30)<\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Denominator<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average shares of common stock outstanding<\/td>254 <\/td><\/td><\/td>277 <\/td><\/td><\/td>300 <\/td><\/td><\/tr>
Effect of dilutive common stock equivalents<\/td>- <\/td><\/td><\/td>1 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Weighted-average shares of common stock outstanding and common stock equivalents<\/td>254 <\/td><\/td><\/td>278 <\/td><\/td><\/td>300 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>Anti-dilutive securities were not material and had no impact on the computation of diluted EPS for the years ended December 31, 2023, 2022 and 2021.\n\n17. Capital Adequacy\n\nDFS is subject to the capital adequacy guidelines of the Federal Reserve. Discover Bank, the Company's banking subsidiary, is subject to various regulatory capital requirements as administered by the FDIC. Failure to meet minimum capital requirements can result in the initiation of certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could limit the Company's business activities and have a direct material effect on the financial condition and operating results of DFS and Discover Bank. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, DFS and Discover Bank must meet specific risk-based capital requirements and leverage ratios that involve quantitative measures of assets, liabilities and certain off-balance sheet items, as calculated under regulatory guidelines. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.\nDFS and Discover Bank are subject to regulatory and capital rules issued by the Federal Reserve and FDIC, respectively, under the Basel Committee's December 2010 framework (\"Basel III rules\"). Under the Basel III rules, DFS and Discover Bank are classified as \"standardized approach\" entities. Standardized approach entities are defined as U.S. banking organizations with consolidated total assets over $50 billion but not exceeding $250 billion and consolidated total on-balance sheet foreign exposure less than $10 billion. \nIn accordance with the final rule on the impact of CECL on regulatory capital, the Company has elected to phase in the impact over three years beginning in 2022. Accordingly, the Company's Common Equity Tier 1 (\"CET1\") capital ratios are higher than they otherwise would have been. The Company's CET1 capital ratios will continue to be favorably impacted by this election over the phase-in period, which ends December 31, 2024. \nAs of December 31, 2023 and 2022, DFS and Discover Bank met all Basel III minimum capital ratio requirements to which they were subject. DFS and Discover Bank also met the requirements to be considered \"well-capitalized\" under Regulation Y and prompt corrective action rules, respectively. There have been no conditions or events that management believes have changed DFS' or Discover Bank's category. To be categorized as \"well-capitalized,\" DFS and Discover Bank must maintain minimum capital ratios outlined in the table below.\n-125-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 126: The following table shows the actual capital amounts and ratios of DFS and Discover Bank and comparisons of each to the regulatory minimum and \"well-capitalized\" requirements (dollars in millions):\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Actual<\/td><\/td>Minimum CapitalRequirements<\/td><\/td>Capital RequirementsTo Be Classified asWell-Capitalized<\/td><\/tr>
<\/td>Amount<\/td><\/td>Ratio(1)<\/td><\/td>Amount<\/td><\/td>Ratio<\/td><\/td>Amount(2)<\/td><\/td>Ratio(2)<\/td><\/tr>
December 31, 2023<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>17,986 <\/td><\/td><\/td>13.7 <\/td>%<\/td><\/td>$<\/td>10,471 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>13,088 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Discover Bank<\/td>$<\/td>16,856 <\/td><\/td><\/td>13.0 <\/td>%<\/td><\/td>$<\/td>10,352 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>12,939 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Tier 1 capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>15,872 <\/td><\/td><\/td>12.1 <\/td>%<\/td><\/td>$<\/td>7,853 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>7,853 <\/td><\/td><\/td>\u22656.0%<\/td><\/tr>
Discover Bank<\/td>$<\/td>13,910 <\/td><\/td><\/td>10.8 <\/td>%<\/td><\/td>$<\/td>7,764 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>10,352 <\/td><\/td><\/td>\u22658.0%<\/td><\/tr>
Tier 1 capital (to average assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>15,872 <\/td><\/td><\/td>10.7 <\/td>%<\/td><\/td>$<\/td>5,915 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank<\/td>$<\/td>13,910 <\/td><\/td><\/td>9.5 <\/td>%<\/td><\/td>$<\/td>5,833 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>$<\/td>7,292 <\/td><\/td><\/td>\u22655.0%<\/td><\/tr>
Common Equity Tier 1 (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>14,816 <\/td><\/td><\/td>11.3 <\/td>%<\/td><\/td>$<\/td>5,890 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank<\/td>$<\/td>13,910 <\/td><\/td><\/td>10.8 <\/td>%<\/td><\/td>$<\/td>5,823 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>$<\/td>8,411 <\/td><\/td><\/td>\u22656.5%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
December 31, 2022<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>18,004 <\/td><\/td><\/td>15.8 <\/td>%<\/td><\/td>$<\/td>9,139 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>11,424 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>16,344 <\/td><\/td><\/td>14.5 <\/td>%<\/td><\/td>$<\/td>9,024 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>11,280 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Tier 1 capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>16,039 <\/td><\/td><\/td>14.0 <\/td>%<\/td><\/td>$<\/td>6,854 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>6,854 <\/td><\/td><\/td>\u22656.0%<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>13,446 <\/td><\/td><\/td>11.9 <\/td>%<\/td><\/td>$<\/td>6,768 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>9,024 <\/td><\/td><\/td>\u22658.0%<\/td><\/tr>
Tier 1 capital (to average assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>16,039 <\/td><\/td><\/td>12.5 <\/td>%<\/td><\/td>$<\/td>5,147 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>13,446 <\/td><\/td><\/td>10.6 <\/td>%<\/td><\/td>$<\/td>5,086 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>$<\/td>6,357 <\/td><\/td><\/td>\u22655.0%<\/td><\/tr>
Common Equity Tier 1 (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>14,983 <\/td><\/td><\/td>13.1 <\/td>%<\/td><\/td>$<\/td>5,141 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>13,446 <\/td><\/td><\/td>11.9 <\/td>%<\/td><\/td>$<\/td>5,076 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>$<\/td>7,332 <\/td><\/td><\/td>\u22656.5%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\n(1)Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions.\n(2)The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve's Regulation Y have been included where available.\n(3)Capital amounts and ratios have been updated to reflect the impact of the restatement described in Note 26: Immaterial Restatement of Prior Period Financial Statements. Discover Bank capital amounts and ratios presented as of December 31, 2022 have been updated from amounts previously disclosed in the Company's Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter.\nThe amount of dividends that a bank may pay in any year is subject to certain regulatory restrictions. Under the current banking regulations, a bank may not pay dividends if such a payment would leave the bank inadequately capitalized. Discover Bank paid dividends of $1.7 billion, $4.0 billion and $3.3 billion in the years ended December 31, 2023, 2022 and 2021, respectively, to DFS.\n-126-\n\n\n\n\n","context_html_without_headers":"\n16. Earnings Per Share\n\nThe following table presents the calculation of basic and diluted EPS (dollars and shares in millions, except per share amounts):
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Numerator<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>(62)<\/td><\/td><\/td>(62)<\/td><\/td><\/td>(69)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income available to common stockholders<\/td>2,878 <\/td><\/td><\/td>4,312 <\/td><\/td><\/td>5,353 <\/td><\/td><\/tr>
Income allocated to participating securities<\/td>(19)<\/td><\/td><\/td>(26)<\/td><\/td><\/td>(30)<\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Denominator<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average shares of common stock outstanding<\/td>254 <\/td><\/td><\/td>277 <\/td><\/td><\/td>300 <\/td><\/td><\/tr>
Effect of dilutive common stock equivalents<\/td>- <\/td><\/td><\/td>1 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Weighted-average shares of common stock outstanding and common stock equivalents<\/td>254 <\/td><\/td><\/td>278 <\/td><\/td><\/td>300 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>Anti-dilutive securities were not material and had no impact on the computation of diluted EPS for the years ended December 31, 2023, 2022 and 2021.\n\n17. Capital Adequacy\n\nDFS is subject to the capital adequacy guidelines of the Federal Reserve. Discover Bank, the Company's banking subsidiary, is subject to various regulatory capital requirements as administered by the FDIC. Failure to meet minimum capital requirements can result in the initiation of certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could limit the Company's business activities and have a direct material effect on the financial condition and operating results of DFS and Discover Bank. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, DFS and Discover Bank must meet specific risk-based capital requirements and leverage ratios that involve quantitative measures of assets, liabilities and certain off-balance sheet items, as calculated under regulatory guidelines. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.\nDFS and Discover Bank are subject to regulatory and capital rules issued by the Federal Reserve and FDIC, respectively, under the Basel Committee's December 2010 framework (\"Basel III rules\"). Under the Basel III rules, DFS and Discover Bank are classified as \"standardized approach\" entities. Standardized approach entities are defined as U.S. banking organizations with consolidated total assets over $50 billion but not exceeding $250 billion and consolidated total on-balance sheet foreign exposure less than $10 billion. \nIn accordance with the final rule on the impact of CECL on regulatory capital, the Company has elected to phase in the impact over three years beginning in 2022. Accordingly, the Company's Common Equity Tier 1 (\"CET1\") capital ratios are higher than they otherwise would have been. The Company's CET1 capital ratios will continue to be favorably impacted by this election over the phase-in period, which ends December 31, 2024. \nAs of December 31, 2023 and 2022, DFS and Discover Bank met all Basel III minimum capital ratio requirements to which they were subject. DFS and Discover Bank also met the requirements to be considered \"well-capitalized\" under Regulation Y and prompt corrective action rules, respectively. There have been no conditions or events that management believes have changed DFS' or Discover Bank's category. To be categorized as \"well-capitalized,\" DFS and Discover Bank must maintain minimum capital ratios outlined in the table below.\n-125-\n\n\n\n\n, The following table shows the actual capital amounts and ratios of DFS and Discover Bank and comparisons of each to the regulatory minimum and \"well-capitalized\" requirements (dollars in millions):\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Actual<\/td><\/td>Minimum CapitalRequirements<\/td><\/td>Capital RequirementsTo Be Classified asWell-Capitalized<\/td><\/tr>
<\/td>Amount<\/td><\/td>Ratio(1)<\/td><\/td>Amount<\/td><\/td>Ratio<\/td><\/td>Amount(2)<\/td><\/td>Ratio(2)<\/td><\/tr>
December 31, 2023<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>17,986 <\/td><\/td><\/td>13.7 <\/td>%<\/td><\/td>$<\/td>10,471 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>13,088 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Discover Bank<\/td>$<\/td>16,856 <\/td><\/td><\/td>13.0 <\/td>%<\/td><\/td>$<\/td>10,352 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>12,939 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Tier 1 capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>15,872 <\/td><\/td><\/td>12.1 <\/td>%<\/td><\/td>$<\/td>7,853 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>7,853 <\/td><\/td><\/td>\u22656.0%<\/td><\/tr>
Discover Bank<\/td>$<\/td>13,910 <\/td><\/td><\/td>10.8 <\/td>%<\/td><\/td>$<\/td>7,764 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>10,352 <\/td><\/td><\/td>\u22658.0%<\/td><\/tr>
Tier 1 capital (to average assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>15,872 <\/td><\/td><\/td>10.7 <\/td>%<\/td><\/td>$<\/td>5,915 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank<\/td>$<\/td>13,910 <\/td><\/td><\/td>9.5 <\/td>%<\/td><\/td>$<\/td>5,833 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>$<\/td>7,292 <\/td><\/td><\/td>\u22655.0%<\/td><\/tr>
Common Equity Tier 1 (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services<\/td>$<\/td>14,816 <\/td><\/td><\/td>11.3 <\/td>%<\/td><\/td>$<\/td>5,890 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank<\/td>$<\/td>13,910 <\/td><\/td><\/td>10.8 <\/td>%<\/td><\/td>$<\/td>5,823 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>$<\/td>8,411 <\/td><\/td><\/td>\u22656.5%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
December 31, 2022<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>18,004 <\/td><\/td><\/td>15.8 <\/td>%<\/td><\/td>$<\/td>9,139 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>11,424 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>16,344 <\/td><\/td><\/td>14.5 <\/td>%<\/td><\/td>$<\/td>9,024 <\/td><\/td><\/td>\u22658.0%<\/td><\/td>$<\/td>11,280 <\/td><\/td><\/td>\u226510.0%<\/td><\/tr>
Tier 1 capital (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>16,039 <\/td><\/td><\/td>14.0 <\/td>%<\/td><\/td>$<\/td>6,854 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>6,854 <\/td><\/td><\/td>\u22656.0%<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>13,446 <\/td><\/td><\/td>11.9 <\/td>%<\/td><\/td>$<\/td>6,768 <\/td><\/td><\/td>\u22656.0%<\/td><\/td>$<\/td>9,024 <\/td><\/td><\/td>\u22658.0%<\/td><\/tr>
Tier 1 capital (to average assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>16,039 <\/td><\/td><\/td>12.5 <\/td>%<\/td><\/td>$<\/td>5,147 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>13,446 <\/td><\/td><\/td>10.6 <\/td>%<\/td><\/td>$<\/td>5,086 <\/td><\/td><\/td>\u22654.0%<\/td><\/td>$<\/td>6,357 <\/td><\/td><\/td>\u22655.0%<\/td><\/tr>
Common Equity Tier 1 (to risk-weighted assets)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discover Financial Services(3)<\/td>$<\/td>14,983 <\/td><\/td><\/td>13.1 <\/td>%<\/td><\/td>$<\/td>5,141 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>N\/A<\/td><\/td>N\/A<\/td><\/tr>
Discover Bank(3)<\/td>$<\/td>13,446 <\/td><\/td><\/td>11.9 <\/td>%<\/td><\/td>$<\/td>5,076 <\/td><\/td><\/td>\u22654.5%<\/td><\/td>$<\/td>7,332 <\/td><\/td><\/td>\u22656.5%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\n(1)Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions.\n(2)The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve's Regulation Y have been included where available.\n(3)Capital amounts and ratios have been updated to reflect the impact of the restatement described in Note 26: Immaterial Restatement of Prior Period Financial Statements. Discover Bank capital amounts and ratios presented as of December 31, 2022 have been updated from amounts previously disclosed in the Company's Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter.\nThe amount of dividends that a bank may pay in any year is subject to certain regulatory restrictions. Under the current banking regulations, a bank may not pay dividends if such a payment would leave the bank inadequately capitalized. Discover Bank paid dividends of $1.7 billion, $4.0 billion and $3.3 billion in the years ended December 31, 2023, 2022 and 2021, respectively, to DFS.\n-126-\n\n\n\n\n"} +{"QID":"q_Ra015","Question":"What was Discover\u2019s Return on Assets for 2023?","ground_truth_answer":"Return on Assets (ROA) is calculated using the following formula:\n\nROA = (Net\u00a0Income\/Average\u00a0Total\u00a0Assets)\u00d7100\nCalculation for 2023:\nNet Income (2023): $2,940 million\nTotal Assets (2023): $151,522 million\nTotal Assets (2022): $131,706 million\nTo find the average total assets:\n\nAverage\u00a0Total\u00a0Assets=(151,522+131,706)\/2 = 141,614\u00a0million\nROA = (2,940\/141,614)\u00d7100 = 2.08%","question_type":"Ratio","page_number":"85, 86","accession_number":"0001393612-24-000010","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:---------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | Assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 11,685 | | | $ | 8,856 |\n| 5 | Restricted cash | 43 | | | 41 | | |\n| 7 | Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively) | 13,655 | | | 12,208 | | |\n| 8 | Loan receivables | | | | | | |\n| 9 | Loan receivables | 128,409 | | | 112,120 | | |\n| 10 | Allowance for credit losses | (9,283) | | | (7,374) | | |\n| 11 | Net loan receivables | 119,126 | | | 104,746 | | |\n| 12 | Premises and equipment, net | 1,091 | | | 1,003 | | |\n| 13 | Goodwill | 255 | | | 255 | | |\n| 15 | Other assets | 5,667 | | | 4,597 | | |\n| 16 | Total assets | $ | 151,522 | | | $ | 131,706 |\n| 17 | Liabilities and Stockholders' Equity | | | | | | |\n| 18 | Liabilities | | | | | | |\n| 19 | Deposits | | | | | | |\n| 20 | Interest-bearing deposit accounts | $ | 107,493 | | | $ | 90,151 |\n| 21 | Non-interest-bearing deposit accounts | 1,438 | | | 1,485 | | |\n| 22 | Total deposits | 108,931 | | | 91,636 | | |\n| 23 | Short-term borrowings | 750 | | | - | | |\n| 24 | Long-term borrowings | 20,581 | | | 20,108 | | |\n| 25 | Accrued expenses and other liabilities | 6,432 | | | 5,618 | | |\n| 26 | Total liabilities | 136,694 | | | 117,362 | | |\n| 27 | Commitments, contingencies and guarantees (Notes 15, 18 and 19) | | | | | | |\n| 28 | Stockholders' Equity | | | | | | |\n| 29 | Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively | 6 | | | 6 | | |\n| 30 | Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively | 1,056 | | | 1,056 | | |\n| 31 | Additional paid-in capital | 4,553 | | | 4,468 | | |\n| 32 | Retained earnings | 30,448 | | | 28,207 | | |\n| 33 | Accumulated other comprehensive loss | (225) | | | (339) | | |\n| 34 | Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively | (21,010) | | | (19,054) | | |\n| 35 | Total stockholders' equity | 14,828 | | | 14,344 | | |\n| 36 | Total liabilities and stockholders' equity | $ | 151,522 | | | $ | 131,706 |\nThe table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n| | | | | | | |\n|---:|:----------------------------------------------------------------------|:-------------|:--------|:-----|:---|:--------|\n| 1 | | December 31, | | | | |\n| 2 | | 2023 | | 2022 | | |\n| 3 | Assets | | | | | |\n| 4 | Restricted cash | $ | 43 | | $ | 41 |\n| 5 | Loan receivables | $ | 30,590 | | $ | 25,937 |\n| 6 | Allowance for credit losses allocated to securitized loan receivables | $ | (1,347) | | $ | (1,152) |\n| 7 | Other assets | $ | 3 | | $ | 3 |\n| 8 | Liabilities | | | | | |\n| 9 | Short- and long-term borrowings | $ | 11,743 | | $ | 10,259 |\n| 10 | Accrued expenses and other liabilities | $ | 19 | | $ | 14 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 86: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)| | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Interest income | | | | | | | | | |\n| 4 | Credit card loans | $ | 14,438 | | | $ | 10,632 | | $ | 8,717 |\n| 5 | Other loans | 2,515 | | | 1,870 | | | 1,734 | | |\n| 6 | Investment securities | 449 | | | 179 | | | 182 | | |\n| 7 | Other interest income | 443 | | | 183 | | | 18 | | |\n| 8 | Total interest income | 17,845 | | | 12,864 | | | 10,651 | | |\n| 9 | Interest expense | | | | | | | | | |\n| 10 | Deposits | 3,886 | | | 1,257 | | | 661 | | |\n| 11 | Short-term borrowings | 5 | | | 2 | | | - | | |\n| 12 | Long-term borrowings | 855 | | | 606 | | | 473 | | |\n| 13 | Total interest expense | 4,746 | | | 1,865 | | | 1,134 | | |\n| 14 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | |\n| 15 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | |\n| 16 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | |\n| 17 | Other income | | | | | | | | | |\n| 18 | Discount and interchange revenue, net | 1,447 | | | 1,380 | | | 1,188 | | |\n| 19 | Protection products revenue | 172 | | | 172 | | | 165 | | |\n| 20 | Loan fee income | 763 | | | 632 | | | 464 | | |\n| 21 | Transaction processing revenue | 303 | | | 249 | | | 227 | | |\n| 22 | (Losses) gains on equity investments | (9) | | | (214) | | | 424 | | |\n| 23 | Other income | 85 | | | 75 | | | 66 | | |\n| 24 | Total other income | 2,761 | | | 2,294 | | | 2,534 | | |\n| 25 | Other expense | | | | | | | | | |\n| 26 | Employee compensation and benefits | 2,434 | | | 2,139 | | | 1,986 | | |\n| 27 | Marketing and business development | 1,164 | | | 1,035 | | | 810 | | |\n| 28 | Information processing and communications | 608 | | | 513 | | | 500 | | |\n| 29 | Professional fees | 1,041 | | | 871 | | | 797 | | |\n| 30 | Premises and equipment | 89 | | | 118 | | | 92 | | |\n| 31 | Other expense | 680 | | | 540 | | | 620 | | |\n| 32 | Total other expense | 6,016 | | | 5,216 | | | 4,805 | | |\n| 33 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | |\n| 34 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | |\n| 35 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 36 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 37 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 38 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_markdown_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:---------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | Assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 11,685 | | | $ | 8,856 |\n| 5 | Restricted cash | 43 | | | 41 | | |\n| 7 | Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively) | 13,655 | | | 12,208 | | |\n| 8 | Loan receivables | | | | | | |\n| 9 | Loan receivables | 128,409 | | | 112,120 | | |\n| 10 | Allowance for credit losses | (9,283) | | | (7,374) | | |\n| 11 | Net loan receivables | 119,126 | | | 104,746 | | |\n| 12 | Premises and equipment, net | 1,091 | | | 1,003 | | |\n| 13 | Goodwill | 255 | | | 255 | | |\n| 15 | Other assets | 5,667 | | | 4,597 | | |\n| 16 | Total assets | $ | 151,522 | | | $ | 131,706 |\n| 17 | Liabilities and Stockholders' Equity | | | | | | |\n| 18 | Liabilities | | | | | | |\n| 19 | Deposits | | | | | | |\n| 20 | Interest-bearing deposit accounts | $ | 107,493 | | | $ | 90,151 |\n| 21 | Non-interest-bearing deposit accounts | 1,438 | | | 1,485 | | |\n| 22 | Total deposits | 108,931 | | | 91,636 | | |\n| 23 | Short-term borrowings | 750 | | | - | | |\n| 24 | Long-term borrowings | 20,581 | | | 20,108 | | |\n| 25 | Accrued expenses and other liabilities | 6,432 | | | 5,618 | | |\n| 26 | Total liabilities | 136,694 | | | 117,362 | | |\n| 27 | Commitments, contingencies and guarantees (Notes 15, 18 and 19) | | | | | | |\n| 28 | Stockholders' Equity | | | | | | |\n| 29 | Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively | 6 | | | 6 | | |\n| 30 | Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively | 1,056 | | | 1,056 | | |\n| 31 | Additional paid-in capital | 4,553 | | | 4,468 | | |\n| 32 | Retained earnings | 30,448 | | | 28,207 | | |\n| 33 | Accumulated other comprehensive loss | (225) | | | (339) | | |\n| 34 | Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively | (21,010) | | | (19,054) | | |\n| 35 | Total stockholders' equity | 14,828 | | | 14,344 | | |\n| 36 | Total liabilities and stockholders' equity | $ | 151,522 | | | $ | 131,706 |\nThe table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n| | | | | | | |\n|---:|:----------------------------------------------------------------------|:-------------|:--------|:-----|:---|:--------|\n| 1 | | December 31, | | | | |\n| 2 | | 2023 | | 2022 | | |\n| 3 | Assets | | | | | |\n| 4 | Restricted cash | $ | 43 | | $ | 41 |\n| 5 | Loan receivables | $ | 30,590 | | $ | 25,937 |\n| 6 | Allowance for credit losses allocated to securitized loan receivables | $ | (1,347) | | $ | (1,152) |\n| 7 | Other assets | $ | 3 | | $ | 3 |\n| 8 | Liabilities | | | | | |\n| 9 | Short- and long-term borrowings | $ | 11,743 | | $ | 10,259 |\n| 10 | Accrued expenses and other liabilities | $ | 19 | | $ | 14 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n, \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)| | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Interest income | | | | | | | | | |\n| 4 | Credit card loans | $ | 14,438 | | | $ | 10,632 | | $ | 8,717 |\n| 5 | Other loans | 2,515 | | | 1,870 | | | 1,734 | | |\n| 6 | Investment securities | 449 | | | 179 | | | 182 | | |\n| 7 | Other interest income | 443 | | | 183 | | | 18 | | |\n| 8 | Total interest income | 17,845 | | | 12,864 | | | 10,651 | | |\n| 9 | Interest expense | | | | | | | | | |\n| 10 | Deposits | 3,886 | | | 1,257 | | | 661 | | |\n| 11 | Short-term borrowings | 5 | | | 2 | | | - | | |\n| 12 | Long-term borrowings | 855 | | | 606 | | | 473 | | |\n| 13 | Total interest expense | 4,746 | | | 1,865 | | | 1,134 | | |\n| 14 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | |\n| 15 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | |\n| 16 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | |\n| 17 | Other income | | | | | | | | | |\n| 18 | Discount and interchange revenue, net | 1,447 | | | 1,380 | | | 1,188 | | |\n| 19 | Protection products revenue | 172 | | | 172 | | | 165 | | |\n| 20 | Loan fee income | 763 | | | 632 | | | 464 | | |\n| 21 | Transaction processing revenue | 303 | | | 249 | | | 227 | | |\n| 22 | (Losses) gains on equity investments | (9) | | | (214) | | | 424 | | |\n| 23 | Other income | 85 | | | 75 | | | 66 | | |\n| 24 | Total other income | 2,761 | | | 2,294 | | | 2,534 | | |\n| 25 | Other expense | | | | | | | | | |\n| 26 | Employee compensation and benefits | 2,434 | | | 2,139 | | | 1,986 | | |\n| 27 | Marketing and business development | 1,164 | | | 1,035 | | | 810 | | |\n| 28 | Information processing and communications | 608 | | | 513 | | | 500 | | |\n| 29 | Professional fees | 1,041 | | | 871 | | | 797 | | |\n| 30 | Premises and equipment | 89 | | | 118 | | | 92 | | |\n| 31 | Other expense | 680 | | | 540 | | | 620 | | |\n| 32 | Total other expense | 6,016 | | | 5,216 | | | 4,805 | | |\n| 33 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | |\n| 34 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | |\n| 35 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 36 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 37 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 38 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,685 <\/td><\/td><\/td>$<\/td>8,856 <\/td><\/td><\/tr>
Restricted cash<\/td>43 <\/td><\/td><\/td>41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively)<\/td>13,655 <\/td><\/td><\/td>12,208 <\/td><\/td><\/tr>
Loan receivables<\/td><\/td><\/td><\/td><\/tr>
Loan receivables<\/td>128,409 <\/td><\/td><\/td>112,120 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(9,283)<\/td><\/td><\/td>(7,374)<\/td><\/td><\/tr>
Net loan receivables<\/td>119,126 <\/td><\/td><\/td>104,746 <\/td><\/td><\/tr>
Premises and equipment, net<\/td>1,091 <\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Goodwill<\/td>255 <\/td><\/td><\/td>255 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>5,667 <\/td><\/td><\/td>4,597 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposit accounts<\/td>$<\/td>107,493 <\/td><\/td><\/td>$<\/td>90,151 <\/td><\/td><\/tr>
Non-interest-bearing deposit accounts<\/td>1,438 <\/td><\/td><\/td>1,485 <\/td><\/td><\/tr>
Total deposits<\/td>108,931 <\/td><\/td><\/td>91,636 <\/td><\/td><\/tr>
Short-term borrowings<\/td>750 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>20,581 <\/td><\/td><\/td>20,108 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>6,432 <\/td><\/td><\/td>5,618 <\/td><\/td><\/tr>
Total liabilities<\/td>136,694 <\/td><\/td><\/td>117,362 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees (Notes 15, 18 and 19)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively<\/td>6 <\/td><\/td><\/td>6 <\/td><\/td><\/tr>
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively<\/td>1,056 <\/td><\/td><\/td>1,056 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>4,553 <\/td><\/td><\/td>4,468 <\/td><\/td><\/tr>
Retained earnings<\/td>30,448 <\/td><\/td><\/td>28,207 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(225)<\/td><\/td><\/td>(339)<\/td><\/td><\/tr>
Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively<\/td>(21,010)<\/td><\/td><\/td>(19,054)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>14,828 <\/td><\/td><\/td>14,344 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>The table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Restricted cash<\/td>$<\/td>43 <\/td><\/td><\/td>$<\/td>41 <\/td><\/td><\/tr>
Loan receivables<\/td>$<\/td>30,590 <\/td><\/td><\/td>$<\/td>25,937 <\/td><\/td><\/tr>
Allowance for credit losses allocated to securitized loan receivables<\/td>$<\/td>(1,347)<\/td><\/td><\/td>$<\/td>(1,152)<\/td><\/td><\/tr>
Other assets<\/td>$<\/td>3 <\/td><\/td><\/td>$<\/td>3 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Short- and long-term borrowings<\/td>$<\/td>11,743 <\/td><\/td><\/td>$<\/td>10,259 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>$<\/td>19 <\/td><\/td><\/td>$<\/td>14 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 86: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>14,438 <\/td><\/td><\/td>$<\/td>10,632 <\/td><\/td><\/td>$<\/td>8,717 <\/td><\/td><\/tr>
Other loans<\/td>2,515 <\/td><\/td><\/td>1,870 <\/td><\/td><\/td>1,734 <\/td><\/td><\/tr>
Investment securities<\/td>449 <\/td><\/td><\/td>179 <\/td><\/td><\/td>182 <\/td><\/td><\/tr>
Other interest income<\/td>443 <\/td><\/td><\/td>183 <\/td><\/td><\/td>18 <\/td><\/td><\/tr>
Total interest income<\/td>17,845 <\/td><\/td><\/td>12,864 <\/td><\/td><\/td>10,651 <\/td><\/td><\/tr>
Interest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td>3,886 <\/td><\/td><\/td>1,257 <\/td><\/td><\/td>661 <\/td><\/td><\/tr>
Short-term borrowings<\/td>5 <\/td><\/td><\/td>2 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>855 <\/td><\/td><\/td>606 <\/td><\/td><\/td>473 <\/td><\/td><\/tr>
Total interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/tr>
Other income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discount and interchange revenue, net<\/td>1,447 <\/td><\/td><\/td>1,380 <\/td><\/td><\/td>1,188 <\/td><\/td><\/tr>
Protection products revenue<\/td>172 <\/td><\/td><\/td>172 <\/td><\/td><\/td>165 <\/td><\/td><\/tr>
Loan fee income<\/td>763 <\/td><\/td><\/td>632 <\/td><\/td><\/td>464 <\/td><\/td><\/tr>
Transaction processing revenue<\/td>303 <\/td><\/td><\/td>249 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
(Losses) gains on equity investments<\/td>(9)<\/td><\/td><\/td>(214)<\/td><\/td><\/td>424 <\/td><\/td><\/tr>
Other income<\/td>85 <\/td><\/td><\/td>75 <\/td><\/td><\/td>66 <\/td><\/td><\/tr>
Total other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/tr>
Other expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>2,434 <\/td><\/td><\/td>2,139 <\/td><\/td><\/td>1,986 <\/td><\/td><\/tr>
Marketing and business development<\/td>1,164 <\/td><\/td><\/td>1,035 <\/td><\/td><\/td>810 <\/td><\/td><\/tr>
Information processing and communications<\/td>608 <\/td><\/td><\/td>513 <\/td><\/td><\/td>500 <\/td><\/td><\/tr>
Professional fees<\/td>1,041 <\/td><\/td><\/td>871 <\/td><\/td><\/td>797 <\/td><\/td><\/tr>
Premises and equipment<\/td>89 <\/td><\/td><\/td>118 <\/td><\/td><\/td>92 <\/td><\/td><\/tr>
Other expense<\/td>680 <\/td><\/td><\/td>540 <\/td><\/td><\/td>620 <\/td><\/td><\/tr>
Total other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_html_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,685 <\/td><\/td><\/td>$<\/td>8,856 <\/td><\/td><\/tr>
Restricted cash<\/td>43 <\/td><\/td><\/td>41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively)<\/td>13,655 <\/td><\/td><\/td>12,208 <\/td><\/td><\/tr>
Loan receivables<\/td><\/td><\/td><\/td><\/tr>
Loan receivables<\/td>128,409 <\/td><\/td><\/td>112,120 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(9,283)<\/td><\/td><\/td>(7,374)<\/td><\/td><\/tr>
Net loan receivables<\/td>119,126 <\/td><\/td><\/td>104,746 <\/td><\/td><\/tr>
Premises and equipment, net<\/td>1,091 <\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Goodwill<\/td>255 <\/td><\/td><\/td>255 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>5,667 <\/td><\/td><\/td>4,597 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposit accounts<\/td>$<\/td>107,493 <\/td><\/td><\/td>$<\/td>90,151 <\/td><\/td><\/tr>
Non-interest-bearing deposit accounts<\/td>1,438 <\/td><\/td><\/td>1,485 <\/td><\/td><\/tr>
Total deposits<\/td>108,931 <\/td><\/td><\/td>91,636 <\/td><\/td><\/tr>
Short-term borrowings<\/td>750 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>20,581 <\/td><\/td><\/td>20,108 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>6,432 <\/td><\/td><\/td>5,618 <\/td><\/td><\/tr>
Total liabilities<\/td>136,694 <\/td><\/td><\/td>117,362 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees (Notes 15, 18 and 19)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively<\/td>6 <\/td><\/td><\/td>6 <\/td><\/td><\/tr>
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively<\/td>1,056 <\/td><\/td><\/td>1,056 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>4,553 <\/td><\/td><\/td>4,468 <\/td><\/td><\/tr>
Retained earnings<\/td>30,448 <\/td><\/td><\/td>28,207 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(225)<\/td><\/td><\/td>(339)<\/td><\/td><\/tr>
Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively<\/td>(21,010)<\/td><\/td><\/td>(19,054)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>14,828 <\/td><\/td><\/td>14,344 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>The table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Restricted cash<\/td>$<\/td>43 <\/td><\/td><\/td>$<\/td>41 <\/td><\/td><\/tr>
Loan receivables<\/td>$<\/td>30,590 <\/td><\/td><\/td>$<\/td>25,937 <\/td><\/td><\/tr>
Allowance for credit losses allocated to securitized loan receivables<\/td>$<\/td>(1,347)<\/td><\/td><\/td>$<\/td>(1,152)<\/td><\/td><\/tr>
Other assets<\/td>$<\/td>3 <\/td><\/td><\/td>$<\/td>3 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Short- and long-term borrowings<\/td>$<\/td>11,743 <\/td><\/td><\/td>$<\/td>10,259 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>$<\/td>19 <\/td><\/td><\/td>$<\/td>14 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n, \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>14,438 <\/td><\/td><\/td>$<\/td>10,632 <\/td><\/td><\/td>$<\/td>8,717 <\/td><\/td><\/tr>
Other loans<\/td>2,515 <\/td><\/td><\/td>1,870 <\/td><\/td><\/td>1,734 <\/td><\/td><\/tr>
Investment securities<\/td>449 <\/td><\/td><\/td>179 <\/td><\/td><\/td>182 <\/td><\/td><\/tr>
Other interest income<\/td>443 <\/td><\/td><\/td>183 <\/td><\/td><\/td>18 <\/td><\/td><\/tr>
Total interest income<\/td>17,845 <\/td><\/td><\/td>12,864 <\/td><\/td><\/td>10,651 <\/td><\/td><\/tr>
Interest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td>3,886 <\/td><\/td><\/td>1,257 <\/td><\/td><\/td>661 <\/td><\/td><\/tr>
Short-term borrowings<\/td>5 <\/td><\/td><\/td>2 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>855 <\/td><\/td><\/td>606 <\/td><\/td><\/td>473 <\/td><\/td><\/tr>
Total interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/tr>
Other income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discount and interchange revenue, net<\/td>1,447 <\/td><\/td><\/td>1,380 <\/td><\/td><\/td>1,188 <\/td><\/td><\/tr>
Protection products revenue<\/td>172 <\/td><\/td><\/td>172 <\/td><\/td><\/td>165 <\/td><\/td><\/tr>
Loan fee income<\/td>763 <\/td><\/td><\/td>632 <\/td><\/td><\/td>464 <\/td><\/td><\/tr>
Transaction processing revenue<\/td>303 <\/td><\/td><\/td>249 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
(Losses) gains on equity investments<\/td>(9)<\/td><\/td><\/td>(214)<\/td><\/td><\/td>424 <\/td><\/td><\/tr>
Other income<\/td>85 <\/td><\/td><\/td>75 <\/td><\/td><\/td>66 <\/td><\/td><\/tr>
Total other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/tr>
Other expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>2,434 <\/td><\/td><\/td>2,139 <\/td><\/td><\/td>1,986 <\/td><\/td><\/tr>
Marketing and business development<\/td>1,164 <\/td><\/td><\/td>1,035 <\/td><\/td><\/td>810 <\/td><\/td><\/tr>
Information processing and communications<\/td>608 <\/td><\/td><\/td>513 <\/td><\/td><\/td>500 <\/td><\/td><\/tr>
Professional fees<\/td>1,041 <\/td><\/td><\/td>871 <\/td><\/td><\/td>797 <\/td><\/td><\/tr>
Premises and equipment<\/td>89 <\/td><\/td><\/td>118 <\/td><\/td><\/td>92 <\/td><\/td><\/tr>
Other expense<\/td>680 <\/td><\/td><\/td>540 <\/td><\/td><\/td>620 <\/td><\/td><\/tr>
Total other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n"} +{"QID":"q_Ra016","Question":"What is Discover\u2019s Provision Coverage Ratio for 2023?","ground_truth_answer":"The Provision Coverage Ratio (PCR) for Discover Financial Services is calculated by dividing total provisions by gross non-performing assets (NPAs) and multiplying by 100. In this case, Discover\u2019s total provisions amount to $9,283 million, while its total NPAs are $2,314 million (defined as loans which are 90 days or more delinquent). \nThus, 401.21%\n","question_type":"Ratio","page_number":"64, 67","accession_number":"0001393612-24-000010","item":"Item 7. Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 64: \nLoan Quality\n\nLoan receivables consist of the following (dollars in millions):| | | | | | | | |\n|---:|:----------------------------|:-------------|:--------|:-----|:--------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | Credit card loans | $ | 102,259 | | | $ | 90,113 |\n| 4 | Other loans | | | | | | |\n| 5 | Private student loans | 10,352 | | | 10,308 | | |\n| 6 | Personal loans | 9,852 | | | 7,998 | | |\n| 7 | Other loans | 5,946 | | | 3,701 | | |\n| 8 | Total other loans | 26,150 | | | 22,007 | | |\n| 9 | Total loan receivables | 128,409 | | | 112,120 | | |\n| 10 | Allowance for credit losses | (9,283) | | | (7,374) | | |\n| 11 | Net loan receivables | $ | 119,126 | | | $ | 104,746 |\n\nProvision and Allowance for Credit Losses\n\nProvision for credit losses is the expense related to maintaining the allowance for credit losses at an appropriate level to absorb the estimate of credit losses anticipated over the remaining expected life of loan receivables at each period end date. In deriving the estimate of expected credit losses, we consider the collectability of principal, interest and fees associated with our loan receivables. We also consider expected recoveries of amounts that were either previously charged-off or are expected to be charged-off. Establishing the estimate for expected credit losses requires significant management judgment. The factors that influence the provision for credit losses include:\n\u2022Increases or decreases in outstanding loan balances, including:\n\u2022Changes in consumer spending, payment and credit utilization behaviors;\n\u2022The level of new account and loan originations and loan maturities; and\n\u2022Changes in the overall mix of accounts and products within the portfolio;\n\u2022The credit quality of the loan portfolio, which reflects our credit granting practices and the effectiveness of collection efforts, among other factors;\n\u2022The impact of general economic conditions on the consumer, including national and regional conditions, unemployment levels, bankruptcy trends and interest rate movements;\n\u2022The level and direction of historical losses; and\n\u2022Regulatory changes or new regulatory guidance.\n\nRefer to \"- Critical Accounting Estimates - Allowance for Credit Losses\" and Note 4: Loan Receivables to our consolidated financial statements for more details on how we estimate the allowance for credit losses. \n\n-64-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 67: \nDelinquencies\n\nDelinquencies are an indicator of credit quality at a point in time. A loan balance is considered delinquent when contractual payments on the loan become 30 days past due.\nThe following table presents the amounts and delinquency rates of key loan products that are 30 and 90 days or more delinquent, and loan receivables that are not accruing interest regardless of delinquency (dollars in millions):| | | | | | | | | | | | |\n|---:|:---------------------------------|:-------------|:------|:-----|:-----|:---|:---|:---|:------|:-----|:---|\n| 1 | | December 31, | | | | | | | | | |\n| 2 | | 2023 | | 2022 | | | | | | | |\n| 3 | | $ | | % | $ | | % | | | | |\n| 4 | Loans 30 or more days delinquent | | | | | | | | | | |\n| 5 | Credit card loans | $ | 3,955 | | 3.87 | % | | $ | 2,278 | 2.53 | % |\n| 6 | Private student loans | $ | 271 | | 2.62 | % | | $ | 212 | 2.05 | % |\n| 7 | Personal loans | $ | 143 | | 1.45 | % | | $ | 63 | 0.80 | % |\n| 9 | Total loan receivables | $ | 4,427 | | 3.45 | % | | $ | 2,578 | 2.30 | % |\n| 11 | Loans 90 or more days delinquent | | | | | | | | | | |\n| 12 | Credit card loans | $ | 1,917 | | 1.87 | % | | $ | 1,028 | 1.14 | % |\n| 13 | Private student loans | $ | 70 | | 0.67 | % | | $ | 45 | 0.43 | % |\n| 14 | Personal loans | $ | 39 | | 0.40 | % | | $ | 16 | 0.21 | % |\n| 16 | Total loan receivables | $ | 2,045 | | 1.59 | % | | $ | 1,101 | 0.98 | % |\n| 18 | Loans not accruing interest | $ | 269 | | 0.21 | % | | $ | 214 | 0.19 | % |\nThe 30-day and 90-day delinquency rates for credit card loans, private student loans, and personal loans at December 31, 2023, increased compared to December 31, 2022, primarily driven by portfolio seasoning.\n\nModified and Restructured Loans\n\nFor information regarding modified and restructured loans, see Note 4: Loan Receivables to our condensed consolidated financial statements.\n\nMaturities and Sensitivities of Loan Receivables to Changes in Interest Rates\n\nOur loan portfolio had the following maturity distribution(1) (dollars in millions):\n| | | | | | | | | | | | | | | |\n|---:|:----------------------|:-------------------|:-------|:-----------------------------------|:------|:------------------------------------------|:-------|:------------------------|:------|:-------|:-------|:------|:---|:--------|\n| 1 | At December 31, 2023 | Due OneYear orLess | | Due AfterOne YearThroughFive Years | | Due AfterFive Years Through Fifteen Years | | Due After Fifteen Years | Total | | | | | |\n| 2 | Credit card loans | $ | 32,250 | | | $ | 54,628 | | $ | 15,032 | $ | 349 | $ | 102,259 |\n| 3 | Private student loans | 364 | | | 2,083 | | | 6,296 | | 1,609 | 10,352 | | | |\n| 4 | Personal loans | 2,653 | | | 6,653 | | | 546 | | - | 9,852 | | | |\n| 5 | Other loans | 161 | | | 724 | | | 2,102 | | 2,959 | 5,946 | | | |\n| 6 | Total loan portfolio | $ | 35,428 | | | $ | 64,088 | | $ | 23,976 | $ | 4,917 | $ | 128,409 |\n\n(1) Because of the uncertainty regarding loan repayment patterns, the above amounts have been calculated using contractually required minimum payments. Historically, actual loan repayments have been higher than such minimum payments and, therefore, the above amounts may not necessarily be indicative of our actual loan repayments.\nAt December 31, 2023, approximately $55.9 billion of our loan portfolio due after one year had interest rates tied to an index and approximately $37.0 billion were fixed-rate loans.\n-67-\n\n\n\n\n","context_markdown_without_headers":"\nLoan Quality\n\nLoan receivables consist of the following (dollars in millions):| | | | | | | | |\n|---:|:----------------------------|:-------------|:--------|:-----|:--------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | Credit card loans | $ | 102,259 | | | $ | 90,113 |\n| 4 | Other loans | | | | | | |\n| 5 | Private student loans | 10,352 | | | 10,308 | | |\n| 6 | Personal loans | 9,852 | | | 7,998 | | |\n| 7 | Other loans | 5,946 | | | 3,701 | | |\n| 8 | Total other loans | 26,150 | | | 22,007 | | |\n| 9 | Total loan receivables | 128,409 | | | 112,120 | | |\n| 10 | Allowance for credit losses | (9,283) | | | (7,374) | | |\n| 11 | Net loan receivables | $ | 119,126 | | | $ | 104,746 |\n\nProvision and Allowance for Credit Losses\n\nProvision for credit losses is the expense related to maintaining the allowance for credit losses at an appropriate level to absorb the estimate of credit losses anticipated over the remaining expected life of loan receivables at each period end date. In deriving the estimate of expected credit losses, we consider the collectability of principal, interest and fees associated with our loan receivables. We also consider expected recoveries of amounts that were either previously charged-off or are expected to be charged-off. Establishing the estimate for expected credit losses requires significant management judgment. The factors that influence the provision for credit losses include:\n\u2022Increases or decreases in outstanding loan balances, including:\n\u2022Changes in consumer spending, payment and credit utilization behaviors;\n\u2022The level of new account and loan originations and loan maturities; and\n\u2022Changes in the overall mix of accounts and products within the portfolio;\n\u2022The credit quality of the loan portfolio, which reflects our credit granting practices and the effectiveness of collection efforts, among other factors;\n\u2022The impact of general economic conditions on the consumer, including national and regional conditions, unemployment levels, bankruptcy trends and interest rate movements;\n\u2022The level and direction of historical losses; and\n\u2022Regulatory changes or new regulatory guidance.\n\nRefer to \"- Critical Accounting Estimates - Allowance for Credit Losses\" and Note 4: Loan Receivables to our consolidated financial statements for more details on how we estimate the allowance for credit losses. \n\n-64-\n\n\n\n\n, \nDelinquencies\n\nDelinquencies are an indicator of credit quality at a point in time. A loan balance is considered delinquent when contractual payments on the loan become 30 days past due.\nThe following table presents the amounts and delinquency rates of key loan products that are 30 and 90 days or more delinquent, and loan receivables that are not accruing interest regardless of delinquency (dollars in millions):| | | | | | | | | | | | |\n|---:|:---------------------------------|:-------------|:------|:-----|:-----|:---|:---|:---|:------|:-----|:---|\n| 1 | | December 31, | | | | | | | | | |\n| 2 | | 2023 | | 2022 | | | | | | | |\n| 3 | | $ | | % | $ | | % | | | | |\n| 4 | Loans 30 or more days delinquent | | | | | | | | | | |\n| 5 | Credit card loans | $ | 3,955 | | 3.87 | % | | $ | 2,278 | 2.53 | % |\n| 6 | Private student loans | $ | 271 | | 2.62 | % | | $ | 212 | 2.05 | % |\n| 7 | Personal loans | $ | 143 | | 1.45 | % | | $ | 63 | 0.80 | % |\n| 9 | Total loan receivables | $ | 4,427 | | 3.45 | % | | $ | 2,578 | 2.30 | % |\n| 11 | Loans 90 or more days delinquent | | | | | | | | | | |\n| 12 | Credit card loans | $ | 1,917 | | 1.87 | % | | $ | 1,028 | 1.14 | % |\n| 13 | Private student loans | $ | 70 | | 0.67 | % | | $ | 45 | 0.43 | % |\n| 14 | Personal loans | $ | 39 | | 0.40 | % | | $ | 16 | 0.21 | % |\n| 16 | Total loan receivables | $ | 2,045 | | 1.59 | % | | $ | 1,101 | 0.98 | % |\n| 18 | Loans not accruing interest | $ | 269 | | 0.21 | % | | $ | 214 | 0.19 | % |\nThe 30-day and 90-day delinquency rates for credit card loans, private student loans, and personal loans at December 31, 2023, increased compared to December 31, 2022, primarily driven by portfolio seasoning.\n\nModified and Restructured Loans\n\nFor information regarding modified and restructured loans, see Note 4: Loan Receivables to our condensed consolidated financial statements.\n\nMaturities and Sensitivities of Loan Receivables to Changes in Interest Rates\n\nOur loan portfolio had the following maturity distribution(1) (dollars in millions):\n| | | | | | | | | | | | | | | |\n|---:|:----------------------|:-------------------|:-------|:-----------------------------------|:------|:------------------------------------------|:-------|:------------------------|:------|:-------|:-------|:------|:---|:--------|\n| 1 | At December 31, 2023 | Due OneYear orLess | | Due AfterOne YearThroughFive Years | | Due AfterFive Years Through Fifteen Years | | Due After Fifteen Years | Total | | | | | |\n| 2 | Credit card loans | $ | 32,250 | | | $ | 54,628 | | $ | 15,032 | $ | 349 | $ | 102,259 |\n| 3 | Private student loans | 364 | | | 2,083 | | | 6,296 | | 1,609 | 10,352 | | | |\n| 4 | Personal loans | 2,653 | | | 6,653 | | | 546 | | - | 9,852 | | | |\n| 5 | Other loans | 161 | | | 724 | | | 2,102 | | 2,959 | 5,946 | | | |\n| 6 | Total loan portfolio | $ | 35,428 | | | $ | 64,088 | | $ | 23,976 | $ | 4,917 | $ | 128,409 |\n\n(1) Because of the uncertainty regarding loan repayment patterns, the above amounts have been calculated using contractually required minimum payments. Historically, actual loan repayments have been higher than such minimum payments and, therefore, the above amounts may not necessarily be indicative of our actual loan repayments.\nAt December 31, 2023, approximately $55.9 billion of our loan portfolio due after one year had interest rates tied to an index and approximately $37.0 billion were fixed-rate loans.\n-67-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 64: \nLoan Quality\n\nLoan receivables consist of the following (dollars in millions):
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Credit card loans<\/td>$<\/td>102,259 <\/td><\/td><\/td>$<\/td>90,113 <\/td><\/td><\/tr>
Other loans<\/td><\/td><\/td><\/td><\/tr>
Private student loans<\/td>10,352 <\/td><\/td><\/td>10,308 <\/td><\/td><\/tr>
Personal loans<\/td>9,852 <\/td><\/td><\/td>7,998 <\/td><\/td><\/tr>
Other loans<\/td>5,946 <\/td><\/td><\/td>3,701 <\/td><\/td><\/tr>
Total other loans<\/td>26,150 <\/td><\/td><\/td>22,007 <\/td><\/td><\/tr>
Total loan receivables<\/td>128,409 <\/td><\/td><\/td>112,120 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(9,283)<\/td><\/td><\/td>(7,374)<\/td><\/td><\/tr>
Net loan receivables<\/td>$<\/td>119,126 <\/td><\/td><\/td>$<\/td>104,746 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>\nProvision and Allowance for Credit Losses\n\nProvision for credit losses is the expense related to maintaining the allowance for credit losses at an appropriate level to absorb the estimate of credit losses anticipated over the remaining expected life of loan receivables at each period end date. In deriving the estimate of expected credit losses, we consider the collectability of principal, interest and fees associated with our loan receivables. We also consider expected recoveries of amounts that were either previously charged-off or are expected to be charged-off. Establishing the estimate for expected credit losses requires significant management judgment. The factors that influence the provision for credit losses include:\n\u2022Increases or decreases in outstanding loan balances, including:\n\u2022Changes in consumer spending, payment and credit utilization behaviors;\n\u2022The level of new account and loan originations and loan maturities; and\n\u2022Changes in the overall mix of accounts and products within the portfolio;\n\u2022The credit quality of the loan portfolio, which reflects our credit granting practices and the effectiveness of collection efforts, among other factors;\n\u2022The impact of general economic conditions on the consumer, including national and regional conditions, unemployment levels, bankruptcy trends and interest rate movements;\n\u2022The level and direction of historical losses; and\n\u2022Regulatory changes or new regulatory guidance.\n\nRefer to \"- Critical Accounting Estimates - Allowance for Credit Losses\" and Note 4: Loan Receivables to our consolidated financial statements for more details on how we estimate the allowance for credit losses. \n\n-64-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 67: \nDelinquencies\n\nDelinquencies are an indicator of credit quality at a point in time. A loan balance is considered delinquent when contractual payments on the loan become 30 days past due.\nThe following table presents the amounts and delinquency rates of key loan products that are 30 and 90 days or more delinquent, and loan receivables that are not accruing interest regardless of delinquency (dollars in millions):
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
<\/td>$<\/td><\/td>%<\/td><\/td>$<\/td><\/td>%<\/td><\/tr>
Loans 30 or more days delinquent<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>3,955 <\/td><\/td><\/td>3.87 <\/td>%<\/td><\/td>$<\/td>2,278 <\/td><\/td><\/td>2.53 <\/td>%<\/td><\/tr>
Private student loans<\/td>$<\/td>271 <\/td><\/td><\/td>2.62 <\/td>%<\/td><\/td>$<\/td>212 <\/td><\/td><\/td>2.05 <\/td>%<\/td><\/tr>
Personal loans<\/td>$<\/td>143 <\/td><\/td><\/td>1.45 <\/td>%<\/td><\/td>$<\/td>63 <\/td><\/td><\/td>0.80 <\/td>%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total loan receivables<\/td>$<\/td>4,427 <\/td><\/td><\/td>3.45 <\/td>%<\/td><\/td>$<\/td>2,578 <\/td><\/td><\/td>2.30 <\/td>%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Loans 90 or more days delinquent<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>1,917 <\/td><\/td><\/td>1.87 <\/td>%<\/td><\/td>$<\/td>1,028 <\/td><\/td><\/td>1.14 <\/td>%<\/td><\/tr>
Private student loans<\/td>$<\/td>70 <\/td><\/td><\/td>0.67 <\/td>%<\/td><\/td>$<\/td>45 <\/td><\/td><\/td>0.43 <\/td>%<\/td><\/tr>
Personal loans<\/td>$<\/td>39 <\/td><\/td><\/td>0.40 <\/td>%<\/td><\/td>$<\/td>16 <\/td><\/td><\/td>0.21 <\/td>%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total loan receivables<\/td>$<\/td>2,045 <\/td><\/td><\/td>1.59 <\/td>%<\/td><\/td>$<\/td>1,101 <\/td><\/td><\/td>0.98 <\/td>%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Loans not accruing interest<\/td>$<\/td>269 <\/td><\/td><\/td>0.21 <\/td>%<\/td><\/td>$<\/td>214 <\/td><\/td><\/td>0.19 <\/td>%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>The 30-day and 90-day delinquency rates for credit card loans, private student loans, and personal loans at December 31, 2023, increased compared to December 31, 2022, primarily driven by portfolio seasoning.\n\nModified and Restructured Loans\n\nFor information regarding modified and restructured loans, see Note 4: Loan Receivables to our condensed consolidated financial statements.\n\nMaturities and Sensitivities of Loan Receivables to Changes in Interest Rates\n\nOur loan portfolio had the following maturity distribution(1) (dollars in millions):
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
At December 31, 2023<\/td>Due OneYear orLess<\/td><\/td>Due AfterOne YearThroughFive Years<\/td><\/td>Due AfterFive Years Through Fifteen Years<\/td><\/td>Due After Fifteen Years<\/td><\/td>Total<\/td><\/tr>
Credit card loans<\/td>$<\/td>32,250 <\/td><\/td><\/td>$<\/td>54,628 <\/td><\/td><\/td>$<\/td>15,032 <\/td><\/td><\/td>$<\/td>349 <\/td><\/td><\/td>$<\/td>102,259 <\/td><\/td><\/tr>
Private student loans<\/td>364 <\/td><\/td><\/td>2,083 <\/td><\/td><\/td>6,296 <\/td><\/td><\/td>1,609 <\/td><\/td><\/td>10,352 <\/td><\/td><\/tr>
Personal loans<\/td>2,653 <\/td><\/td><\/td>6,653 <\/td><\/td><\/td>546 <\/td><\/td><\/td>- <\/td><\/td><\/td>9,852 <\/td><\/td><\/tr>
Other loans<\/td>161 <\/td><\/td><\/td>724 <\/td><\/td><\/td>2,102 <\/td><\/td><\/td>2,959 <\/td><\/td><\/td>5,946 <\/td><\/td><\/tr>
Total loan portfolio<\/td>$<\/td>35,428 <\/td><\/td><\/td>$<\/td>64,088 <\/td><\/td><\/td>$<\/td>23,976 <\/td><\/td><\/td>$<\/td>4,917 <\/td><\/td><\/td>$<\/td>128,409 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1) Because of the uncertainty regarding loan repayment patterns, the above amounts have been calculated using contractually required minimum payments. Historically, actual loan repayments have been higher than such minimum payments and, therefore, the above amounts may not necessarily be indicative of our actual loan repayments.\nAt December 31, 2023, approximately $55.9 billion of our loan portfolio due after one year had interest rates tied to an index and approximately $37.0 billion were fixed-rate loans.\n-67-\n\n\n\n\n","context_html_without_headers":"\nLoan Quality\n\nLoan receivables consist of the following (dollars in millions):
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Credit card loans<\/td>$<\/td>102,259 <\/td><\/td><\/td>$<\/td>90,113 <\/td><\/td><\/tr>
Other loans<\/td><\/td><\/td><\/td><\/tr>
Private student loans<\/td>10,352 <\/td><\/td><\/td>10,308 <\/td><\/td><\/tr>
Personal loans<\/td>9,852 <\/td><\/td><\/td>7,998 <\/td><\/td><\/tr>
Other loans<\/td>5,946 <\/td><\/td><\/td>3,701 <\/td><\/td><\/tr>
Total other loans<\/td>26,150 <\/td><\/td><\/td>22,007 <\/td><\/td><\/tr>
Total loan receivables<\/td>128,409 <\/td><\/td><\/td>112,120 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(9,283)<\/td><\/td><\/td>(7,374)<\/td><\/td><\/tr>
Net loan receivables<\/td>$<\/td>119,126 <\/td><\/td><\/td>$<\/td>104,746 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>\nProvision and Allowance for Credit Losses\n\nProvision for credit losses is the expense related to maintaining the allowance for credit losses at an appropriate level to absorb the estimate of credit losses anticipated over the remaining expected life of loan receivables at each period end date. In deriving the estimate of expected credit losses, we consider the collectability of principal, interest and fees associated with our loan receivables. We also consider expected recoveries of amounts that were either previously charged-off or are expected to be charged-off. Establishing the estimate for expected credit losses requires significant management judgment. The factors that influence the provision for credit losses include:\n\u2022Increases or decreases in outstanding loan balances, including:\n\u2022Changes in consumer spending, payment and credit utilization behaviors;\n\u2022The level of new account and loan originations and loan maturities; and\n\u2022Changes in the overall mix of accounts and products within the portfolio;\n\u2022The credit quality of the loan portfolio, which reflects our credit granting practices and the effectiveness of collection efforts, among other factors;\n\u2022The impact of general economic conditions on the consumer, including national and regional conditions, unemployment levels, bankruptcy trends and interest rate movements;\n\u2022The level and direction of historical losses; and\n\u2022Regulatory changes or new regulatory guidance.\n\nRefer to \"- Critical Accounting Estimates - Allowance for Credit Losses\" and Note 4: Loan Receivables to our consolidated financial statements for more details on how we estimate the allowance for credit losses. \n\n-64-\n\n\n\n\n, \nDelinquencies\n\nDelinquencies are an indicator of credit quality at a point in time. A loan balance is considered delinquent when contractual payments on the loan become 30 days past due.\nThe following table presents the amounts and delinquency rates of key loan products that are 30 and 90 days or more delinquent, and loan receivables that are not accruing interest regardless of delinquency (dollars in millions):
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
<\/td>$<\/td><\/td>%<\/td><\/td>$<\/td><\/td>%<\/td><\/tr>
Loans 30 or more days delinquent<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>3,955 <\/td><\/td><\/td>3.87 <\/td>%<\/td><\/td>$<\/td>2,278 <\/td><\/td><\/td>2.53 <\/td>%<\/td><\/tr>
Private student loans<\/td>$<\/td>271 <\/td><\/td><\/td>2.62 <\/td>%<\/td><\/td>$<\/td>212 <\/td><\/td><\/td>2.05 <\/td>%<\/td><\/tr>
Personal loans<\/td>$<\/td>143 <\/td><\/td><\/td>1.45 <\/td>%<\/td><\/td>$<\/td>63 <\/td><\/td><\/td>0.80 <\/td>%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total loan receivables<\/td>$<\/td>4,427 <\/td><\/td><\/td>3.45 <\/td>%<\/td><\/td>$<\/td>2,578 <\/td><\/td><\/td>2.30 <\/td>%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Loans 90 or more days delinquent<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>1,917 <\/td><\/td><\/td>1.87 <\/td>%<\/td><\/td>$<\/td>1,028 <\/td><\/td><\/td>1.14 <\/td>%<\/td><\/tr>
Private student loans<\/td>$<\/td>70 <\/td><\/td><\/td>0.67 <\/td>%<\/td><\/td>$<\/td>45 <\/td><\/td><\/td>0.43 <\/td>%<\/td><\/tr>
Personal loans<\/td>$<\/td>39 <\/td><\/td><\/td>0.40 <\/td>%<\/td><\/td>$<\/td>16 <\/td><\/td><\/td>0.21 <\/td>%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total loan receivables<\/td>$<\/td>2,045 <\/td><\/td><\/td>1.59 <\/td>%<\/td><\/td>$<\/td>1,101 <\/td><\/td><\/td>0.98 <\/td>%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Loans not accruing interest<\/td>$<\/td>269 <\/td><\/td><\/td>0.21 <\/td>%<\/td><\/td>$<\/td>214 <\/td><\/td><\/td>0.19 <\/td>%<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>The 30-day and 90-day delinquency rates for credit card loans, private student loans, and personal loans at December 31, 2023, increased compared to December 31, 2022, primarily driven by portfolio seasoning.\n\nModified and Restructured Loans\n\nFor information regarding modified and restructured loans, see Note 4: Loan Receivables to our condensed consolidated financial statements.\n\nMaturities and Sensitivities of Loan Receivables to Changes in Interest Rates\n\nOur loan portfolio had the following maturity distribution(1) (dollars in millions):
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
At December 31, 2023<\/td>Due OneYear orLess<\/td><\/td>Due AfterOne YearThroughFive Years<\/td><\/td>Due AfterFive Years Through Fifteen Years<\/td><\/td>Due After Fifteen Years<\/td><\/td>Total<\/td><\/tr>
Credit card loans<\/td>$<\/td>32,250 <\/td><\/td><\/td>$<\/td>54,628 <\/td><\/td><\/td>$<\/td>15,032 <\/td><\/td><\/td>$<\/td>349 <\/td><\/td><\/td>$<\/td>102,259 <\/td><\/td><\/tr>
Private student loans<\/td>364 <\/td><\/td><\/td>2,083 <\/td><\/td><\/td>6,296 <\/td><\/td><\/td>1,609 <\/td><\/td><\/td>10,352 <\/td><\/td><\/tr>
Personal loans<\/td>2,653 <\/td><\/td><\/td>6,653 <\/td><\/td><\/td>546 <\/td><\/td><\/td>- <\/td><\/td><\/td>9,852 <\/td><\/td><\/tr>
Other loans<\/td>161 <\/td><\/td><\/td>724 <\/td><\/td><\/td>2,102 <\/td><\/td><\/td>2,959 <\/td><\/td><\/td>5,946 <\/td><\/td><\/tr>
Total loan portfolio<\/td>$<\/td>35,428 <\/td><\/td><\/td>$<\/td>64,088 <\/td><\/td><\/td>$<\/td>23,976 <\/td><\/td><\/td>$<\/td>4,917 <\/td><\/td><\/td>$<\/td>128,409 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1) Because of the uncertainty regarding loan repayment patterns, the above amounts have been calculated using contractually required minimum payments. Historically, actual loan repayments have been higher than such minimum payments and, therefore, the above amounts may not necessarily be indicative of our actual loan repayments.\nAt December 31, 2023, approximately $55.9 billion of our loan portfolio due after one year had interest rates tied to an index and approximately $37.0 billion were fixed-rate loans.\n-67-\n\n\n\n\n"} +{"QID":"q_Ra017","Question":"What is Discover\u2019s Charge-Off Ratio compare to previous years?","ground_truth_answer":"The Charge-Off Ratio indicates the percentage of a company's loan receivables that have been written off as uncollectible over a specific period. It is a measure of credit risk and the effectiveness of a company\u2019s credit management practices. It is calculated as the ratio of Net Charge-off to Average Loan Receivables.\nThe trends of the Charge of Ratio of Discover Financial Services is as follows:\n\nNet Charge-Offs:\n2023: $4,042 million\n2022: $1,817 million\n2021: $1,631 million\n\nAverage Loan Receivables:\n2023: $118,311 million\n2022: $99,673 million\n2021: $88,421 million\n\nCharge off Ratio:\n2023: 3.41%\n2022: 1.82%\n2021: 1.84%","question_type":"Ratio","page_number":"62, 65","accession_number":"0001393612-24-000010","item":"Item 7. Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 62: \nAverage Balance Sheet Analysis\n\n\n(dollars in millions)\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n|---:|:----------------------------------------------|:---------------------------------|:--------|:-----------|:------|:---------|:-------|:----------------|:--------|:-----------|:--------|:---------|:---|:----------------|:-------|:-----------|:-------|:---------|:--------|:--------|:----|:---|:------|:---|:-------|:-------|:-----|:---|:---|:----|\n| 1 | | For the Years Ended December 31, | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | |\n| 3 | | Average Balance | | Yield\/Rate | | Interest | | Average Balance | | Yield\/Rate | | Interest | | Average Balance | | Yield\/Rate | | Interest | | | | | | | | | | | | |\n| 4 | Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 5 | Interest-earning assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 6 | Cash and cash equivalents | $ | 8,192 | | | 5.17 | % | | $ | 423 | | | $ | 9,279 | | | 1.89 | % | | $ | 175 | | | $ | 14,236 | | 0.13 | % | $ | 18 |\n| 7 | Restricted cash | 250 | | | 7.80 | % | | 20 | | | 515 | | | 1.48 | % | | 8 | | | 695 | | | 0.03 | % | | NM | | | | |\n| 8 | Other short-term investments | - | | | - | | | - | | | - | | | - | | | - | | | 176 | | | 0.12 | % | | NM | | | | |\n| 9 | Investment securities | 12,938 | | | 3.47 | % | | 449 | | | 6,988 | | | 2.57 | % | | 179 | | | 8,713 | | | 2.09 | % | | 182 | | | | |\n| 10 | Loan receivables(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 11 | Credit card loans(2)(3) | 94,205 | | | 15.33 | % | | 14,438 | | | 79,243 | | | 13.42 | % | | 10,632 | | | 69,365 | | | 12.57 | % | | 8,717 | | | | |\n| 12 | Private student loans | 10,382 | | | 9.95 | % | | 1,033 | | | 10,240 | | | 8.11 | % | | 831 | | | 10,057 | | | 7.38 | % | | 742 | | | | |\n| 13 | Personal loans | 9,011 | | | 12.83 | % | | 1,156 | | | 7,295 | | | 11.95 | % | | 872 | | | 6,945 | | | 12.64 | % | | 878 | | | | |\n| 14 | Other | 4,713 | | | 6.92 | % | | 326 | | | 2,895 | | | 5.77 | % | | 167 | | | 2,054 | | | 5.57 | % | | 114 | | | | |\n| 15 | Total loan receivables | 118,311 | | | 14.33 | % | | 16,953 | | | 99,673 | | | 12.54 | % | | 12,502 | | | 88,421 | | | 11.82 | % | | 10,451 | | | | |\n| 16 | Total interest-earning assets | 139,691 | | | 12.77 | % | | 17,845 | | | 116,455 | | | 11.05 | % | | 12,864 | | | 112,241 | | | 9.49 | % | | 10,651 | | | | |\n| 17 | Allowance for credit losses | (7,936) | | | | | | | (6,820) | | | | | | | (7,351) | | | | | | | | | | | | | | |\n| 18 | Other assets | 6,938 | | | | | | | 6,070 | | | | | | | 6,237 | | | | | | | | | | | | | | |\n| 19 | Total assets(4) | $ | 138,693 | | | | | | | $ | 115,705 | | | | | | | $ | 111,127 | | | | | | | | | | | |\n| 20 | Liabilities and Stockholders' Equity | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 21 | Interest-bearing liabilities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 22 | Interest-bearing deposits | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 23 | Time deposits | $ | 38,220 | | | 3.89 | % | | $ | 1,485 | | | $ | 23,988 | | | 2.02 | % | | $ | 484 | | | $ | 23,928 | | 1.84 | % | $ | 440 |\n| 24 | Money market deposits | 8,143 | | | 4.16 | % | | 339 | | | 8,453 | | | 1.67 | % | | 141 | | | 8,142 | | | 0.53 | % | | 43 | | | | |\n| 25 | Other interest-bearing savings deposits | 51,366 | | | 4.01 | % | | 2,062 | | | 44,276 | | | 1.43 | % | | 632 | | | 40,912 | | | 0.43 | % | | 178 | | | | |\n| 26 | Total interest-bearing deposits | 97,729 | | | 3.98 | % | | 3,886 | | | 76,717 | | | 1.64 | % | | 1,257 | | | 72,982 | | | 0.91 | % | | 661 | | | | |\n| 27 | Borrowings | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 28 | Short-term borrowings | 44 | | | 10.21 | % | | 5 | | | 225 | | | 0.70 | % | | 2 | | | 72 | | | 0.18 | % | | NM | | | | |\n| 29 | Securitized borrowings(5)(6)(7) | 10,528 | | | 4.30 | % | | 453 | | | 9,060 | | | 2.41 | % | | 219 | | | 9,627 | | | 1.06 | % | | 102 | | | | |\n| 30 | Other long-term borrowings(6)(7)(8) | 9,090 | | | 4.43 | % | | 402 | | | 9,334 | | | 4.15 | % | | 387 | | | 9,888 | | | 3.75 | % | | 371 | | | | |\n| 31 | Total borrowings | 19,662 | | | 4.37 | % | | 860 | | | 18,619 | | | 3.26 | % | | 608 | | | 19,587 | | | 2.42 | % | | 473 | | | | |\n| 32 | Total interest-bearing liabilities | 117,391 | | | 4.04 | % | | 4,746 | | | 95,336 | | | 1.96 | % | | 1,865 | | | 92,569 | | | 1.23 | % | | 1,134 | | | | |\n| 33 | Other liabilities and stockholders' equity(9) | 21,302 | | | | | | | 20,369 | | | | | | | 18,558 | | | | | | | | | | | | | | |\n| 34 | Total liabilities and stockholders' equity | $ | 138,693 | | | | | | | $ | 115,705 | | | | | | | $ | 111,127 | | | | | | | | | | | |\n| 35 | Net interest income | | | | | $ | 13,099 | | | | | | | $ | 10,999 | | | | | | | $ | 9,517 | | | | | | | |\n| 36 | Net interest margin(10) | | | 11.07 | % | | | | | | 11.04 | % | | | | | | 10.76 | % | | | | | | | | | | | |\n| 37 | Net yield on interest-earning assets(11) | | | 9.38 | % | | | | | | 9.45 | % | | | | | | 8.48 | % | | | | | | | | | | | |\n| 38 | Interest rate spread(12) | | | 8.73 | % | | | | | | 9.09 | % | | | | | | 8.26 | % | | | | | | | | | | | |\n(1)Average balances of loan receivables and yield calculations include non-accruing loans. If the non-accruing loan balances were excluded, there would not be a material impact on the amounts reported above. \n(2)Interest income on credit card loans includes $468 million, $365 million and $295 million of amortization of balance transfer fees for the years ended December 31, 2023, 2022 and 2021, respectively.\n(3)Includes the impact of interest rate swap agreements used to change a portion of floating-rate assets to fixed-rate assets for the years ended December 31, 2023, 2022 and 2021.\n(4)The return on average assets, based on net income, was 2.12%, 3.80% and 4.90% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(5)Includes the impact of one terminated derivative formerly designated as a cash flow hedge for the years ended December 31, 2023, 2022 and 2021.\n(6)Includes the impact of interest rate swap agreements used to change a portion of fixed-rate funding to floating-rate funding for the years ended December 31, 2023, 2022 and 2021.\n(7)Includes the impact of terminated derivatives formerly designated as fair value hedges for the years ended December 31, 2023, 2022 and 2021.\n(8)Includes the impact of interest rate swap agreements used to change a portion of floating-rate funding to fixed-rate funding for the years ended December 31, 2023 and 2022.\n(9)The return on average stockholders' equity, based on net income, was 21.00%, 32.00% and 43.12% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(10)Net interest margin represents net interest income as a percentage of average total loan receivables.\n(11)Net yield on interest-earning assets represents net interest income as a percentage of average total interest-earning assets.\n(12)Interest rate spread represents the difference between the rate on total interest-earning assets and the rate on total interest-bearing liabilities.\n-62-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 65: The following tables provide changes in our allowance for credit losses (dollars in millions):\n| | | | | | | | | | | | | | | |\n|---:|:-------------------------------------------------|:-------------------------------------|:------|:---------------------|:------|:---------------|:----|:------------|:------------|:----|:--------|:---|:---|:------|\n| 1 | | For the Year Ended December 31, 2023 | | | | | | | | | | | | |\n| 2 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 3 | Balance at December 31, 2022 | $ | 5,883 | | | $ | 839 | | $ | 595 | $ | 57 | $ | 7,374 |\n| 4 | Cumulative effect of ASU No. 2022-02 adoption(1) | (66) | | | - | | | (2) | | - | (68) | | | |\n| 5 | Balance at January 1, 2023 | 5,817 | | | 839 | | | 593 | | 57 | 7,306 | | | |\n| 6 | Additions | | | | | | | | | | | | | |\n| 7 | Provision for credit losses(2) | 5,476 | | | 152 | | | 363 | | 28 | 6,019 | | | |\n| 8 | Deductions | | | | | | | | | | | | | |\n| 9 | Charge-offs | (4,481) | | | (155) | | | (290) | | (1) | (4,927) | | | |\n| 10 | Recoveries | 807 | | | 22 | | | 56 | | - | 885 | | | |\n| 11 | Net charge-offs | (3,674) | | | (133) | | | (234) | | (1) | (4,042) | | | |\n| 13 | Balance at December 31, 2023 | $ | 7,619 | | | $ | 858 | | $ | 722 | $ | 84 | $ | 9,283 |\n| 15 | | For the Year Ended December 31, 2022 | | | | | | | | | | | | |\n| 16 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 17 | Balance at December 31, 2021 | $ | 5,273 | | | $ | 843 | | $ | 662 | $ | 44 | $ | 6,822 |\n| 18 | Additions | | | | | | | | | | | | | |\n| 19 | Provision for credit losses(2) | 2,233 | | | 99 | | | 24 | | 13 | 2,369 | | | |\n| 20 | Deductions | | | | | | | | | | | | | |\n| 21 | Charge-offs | (2,417) | | | (126) | | | (159) | | - | (2,702) | | | |\n| 22 | Recoveries | 794 | | | 23 | | | 68 | | - | 885 | | | |\n| 23 | Net charge-offs | (1,623) | | | (103) | | | (91) | | - | (1,817) | | | |\n| 25 | Balance at December 31, 2022 | $ | 5,883 | | | $ | 839 | | $ | 595 | $ | 57 | $ | 7,374 |\n| 27 | | For the Year Ended December 31, 2021 | | | | | | | | | | | | |\n| 28 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 29 | Balance at December 31, 2020 | $ | 6,491 | | | $ | 840 | | $ | 857 | $ | 38 | $ | 8,226 |\n| 32 | Additions | | | | | | | | | | | | | |\n| 33 | Provision for credit losses(2) | 229 | | | 67 | | | (75) | | 6 | 227 | | | |\n| 34 | Deductions | | | | | | | | | | | | | |\n| 35 | Charge-offs | (2,255) | | | (89) | | | (190) | | - | (2,534) | | | |\n| 36 | Recoveries | 808 | | | 25 | | | 70 | | - | 903 | | | |\n| 37 | Net charge-offs | (1,447) | | | (64) | | | (120) | | - | (1,631) | | | |\n| 39 | Balance at December 31, 2021 | $ | 5,273 | | | $ | 843 | | $ | 662 | $ | 44 | $ | 6,822 |\n\n\n(1)Represents the adjustment to the allowance for credit losses as a result of the adoption of Accounting Standards Update (\"ASU\") No. 2022-02 on January 1, 2023.\n\n(2)Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in our consolidated statements of financial condition.\n-65-\n\n\n\n\n","context_markdown_without_headers":"\nAverage Balance Sheet Analysis\n\n\n(dollars in millions)\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n|---:|:----------------------------------------------|:---------------------------------|:--------|:-----------|:------|:---------|:-------|:----------------|:--------|:-----------|:--------|:---------|:---|:----------------|:-------|:-----------|:-------|:---------|:--------|:--------|:----|:---|:------|:---|:-------|:-------|:-----|:---|:---|:----|\n| 1 | | For the Years Ended December 31, | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | |\n| 3 | | Average Balance | | Yield\/Rate | | Interest | | Average Balance | | Yield\/Rate | | Interest | | Average Balance | | Yield\/Rate | | Interest | | | | | | | | | | | | |\n| 4 | Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 5 | Interest-earning assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 6 | Cash and cash equivalents | $ | 8,192 | | | 5.17 | % | | $ | 423 | | | $ | 9,279 | | | 1.89 | % | | $ | 175 | | | $ | 14,236 | | 0.13 | % | $ | 18 |\n| 7 | Restricted cash | 250 | | | 7.80 | % | | 20 | | | 515 | | | 1.48 | % | | 8 | | | 695 | | | 0.03 | % | | NM | | | | |\n| 8 | Other short-term investments | - | | | - | | | - | | | - | | | - | | | - | | | 176 | | | 0.12 | % | | NM | | | | |\n| 9 | Investment securities | 12,938 | | | 3.47 | % | | 449 | | | 6,988 | | | 2.57 | % | | 179 | | | 8,713 | | | 2.09 | % | | 182 | | | | |\n| 10 | Loan receivables(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 11 | Credit card loans(2)(3) | 94,205 | | | 15.33 | % | | 14,438 | | | 79,243 | | | 13.42 | % | | 10,632 | | | 69,365 | | | 12.57 | % | | 8,717 | | | | |\n| 12 | Private student loans | 10,382 | | | 9.95 | % | | 1,033 | | | 10,240 | | | 8.11 | % | | 831 | | | 10,057 | | | 7.38 | % | | 742 | | | | |\n| 13 | Personal loans | 9,011 | | | 12.83 | % | | 1,156 | | | 7,295 | | | 11.95 | % | | 872 | | | 6,945 | | | 12.64 | % | | 878 | | | | |\n| 14 | Other | 4,713 | | | 6.92 | % | | 326 | | | 2,895 | | | 5.77 | % | | 167 | | | 2,054 | | | 5.57 | % | | 114 | | | | |\n| 15 | Total loan receivables | 118,311 | | | 14.33 | % | | 16,953 | | | 99,673 | | | 12.54 | % | | 12,502 | | | 88,421 | | | 11.82 | % | | 10,451 | | | | |\n| 16 | Total interest-earning assets | 139,691 | | | 12.77 | % | | 17,845 | | | 116,455 | | | 11.05 | % | | 12,864 | | | 112,241 | | | 9.49 | % | | 10,651 | | | | |\n| 17 | Allowance for credit losses | (7,936) | | | | | | | (6,820) | | | | | | | (7,351) | | | | | | | | | | | | | | |\n| 18 | Other assets | 6,938 | | | | | | | 6,070 | | | | | | | 6,237 | | | | | | | | | | | | | | |\n| 19 | Total assets(4) | $ | 138,693 | | | | | | | $ | 115,705 | | | | | | | $ | 111,127 | | | | | | | | | | | |\n| 20 | Liabilities and Stockholders' Equity | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 21 | Interest-bearing liabilities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 22 | Interest-bearing deposits | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 23 | Time deposits | $ | 38,220 | | | 3.89 | % | | $ | 1,485 | | | $ | 23,988 | | | 2.02 | % | | $ | 484 | | | $ | 23,928 | | 1.84 | % | $ | 440 |\n| 24 | Money market deposits | 8,143 | | | 4.16 | % | | 339 | | | 8,453 | | | 1.67 | % | | 141 | | | 8,142 | | | 0.53 | % | | 43 | | | | |\n| 25 | Other interest-bearing savings deposits | 51,366 | | | 4.01 | % | | 2,062 | | | 44,276 | | | 1.43 | % | | 632 | | | 40,912 | | | 0.43 | % | | 178 | | | | |\n| 26 | Total interest-bearing deposits | 97,729 | | | 3.98 | % | | 3,886 | | | 76,717 | | | 1.64 | % | | 1,257 | | | 72,982 | | | 0.91 | % | | 661 | | | | |\n| 27 | Borrowings | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 28 | Short-term borrowings | 44 | | | 10.21 | % | | 5 | | | 225 | | | 0.70 | % | | 2 | | | 72 | | | 0.18 | % | | NM | | | | |\n| 29 | Securitized borrowings(5)(6)(7) | 10,528 | | | 4.30 | % | | 453 | | | 9,060 | | | 2.41 | % | | 219 | | | 9,627 | | | 1.06 | % | | 102 | | | | |\n| 30 | Other long-term borrowings(6)(7)(8) | 9,090 | | | 4.43 | % | | 402 | | | 9,334 | | | 4.15 | % | | 387 | | | 9,888 | | | 3.75 | % | | 371 | | | | |\n| 31 | Total borrowings | 19,662 | | | 4.37 | % | | 860 | | | 18,619 | | | 3.26 | % | | 608 | | | 19,587 | | | 2.42 | % | | 473 | | | | |\n| 32 | Total interest-bearing liabilities | 117,391 | | | 4.04 | % | | 4,746 | | | 95,336 | | | 1.96 | % | | 1,865 | | | 92,569 | | | 1.23 | % | | 1,134 | | | | |\n| 33 | Other liabilities and stockholders' equity(9) | 21,302 | | | | | | | 20,369 | | | | | | | 18,558 | | | | | | | | | | | | | | |\n| 34 | Total liabilities and stockholders' equity | $ | 138,693 | | | | | | | $ | 115,705 | | | | | | | $ | 111,127 | | | | | | | | | | | |\n| 35 | Net interest income | | | | | $ | 13,099 | | | | | | | $ | 10,999 | | | | | | | $ | 9,517 | | | | | | | |\n| 36 | Net interest margin(10) | | | 11.07 | % | | | | | | 11.04 | % | | | | | | 10.76 | % | | | | | | | | | | | |\n| 37 | Net yield on interest-earning assets(11) | | | 9.38 | % | | | | | | 9.45 | % | | | | | | 8.48 | % | | | | | | | | | | | |\n| 38 | Interest rate spread(12) | | | 8.73 | % | | | | | | 9.09 | % | | | | | | 8.26 | % | | | | | | | | | | | |\n(1)Average balances of loan receivables and yield calculations include non-accruing loans. If the non-accruing loan balances were excluded, there would not be a material impact on the amounts reported above. \n(2)Interest income on credit card loans includes $468 million, $365 million and $295 million of amortization of balance transfer fees for the years ended December 31, 2023, 2022 and 2021, respectively.\n(3)Includes the impact of interest rate swap agreements used to change a portion of floating-rate assets to fixed-rate assets for the years ended December 31, 2023, 2022 and 2021.\n(4)The return on average assets, based on net income, was 2.12%, 3.80% and 4.90% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(5)Includes the impact of one terminated derivative formerly designated as a cash flow hedge for the years ended December 31, 2023, 2022 and 2021.\n(6)Includes the impact of interest rate swap agreements used to change a portion of fixed-rate funding to floating-rate funding for the years ended December 31, 2023, 2022 and 2021.\n(7)Includes the impact of terminated derivatives formerly designated as fair value hedges for the years ended December 31, 2023, 2022 and 2021.\n(8)Includes the impact of interest rate swap agreements used to change a portion of floating-rate funding to fixed-rate funding for the years ended December 31, 2023 and 2022.\n(9)The return on average stockholders' equity, based on net income, was 21.00%, 32.00% and 43.12% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(10)Net interest margin represents net interest income as a percentage of average total loan receivables.\n(11)Net yield on interest-earning assets represents net interest income as a percentage of average total interest-earning assets.\n(12)Interest rate spread represents the difference between the rate on total interest-earning assets and the rate on total interest-bearing liabilities.\n-62-\n\n\n\n\n, The following tables provide changes in our allowance for credit losses (dollars in millions):\n| | | | | | | | | | | | | | | |\n|---:|:-------------------------------------------------|:-------------------------------------|:------|:---------------------|:------|:---------------|:----|:------------|:------------|:----|:--------|:---|:---|:------|\n| 1 | | For the Year Ended December 31, 2023 | | | | | | | | | | | | |\n| 2 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 3 | Balance at December 31, 2022 | $ | 5,883 | | | $ | 839 | | $ | 595 | $ | 57 | $ | 7,374 |\n| 4 | Cumulative effect of ASU No. 2022-02 adoption(1) | (66) | | | - | | | (2) | | - | (68) | | | |\n| 5 | Balance at January 1, 2023 | 5,817 | | | 839 | | | 593 | | 57 | 7,306 | | | |\n| 6 | Additions | | | | | | | | | | | | | |\n| 7 | Provision for credit losses(2) | 5,476 | | | 152 | | | 363 | | 28 | 6,019 | | | |\n| 8 | Deductions | | | | | | | | | | | | | |\n| 9 | Charge-offs | (4,481) | | | (155) | | | (290) | | (1) | (4,927) | | | |\n| 10 | Recoveries | 807 | | | 22 | | | 56 | | - | 885 | | | |\n| 11 | Net charge-offs | (3,674) | | | (133) | | | (234) | | (1) | (4,042) | | | |\n| 13 | Balance at December 31, 2023 | $ | 7,619 | | | $ | 858 | | $ | 722 | $ | 84 | $ | 9,283 |\n| 15 | | For the Year Ended December 31, 2022 | | | | | | | | | | | | |\n| 16 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 17 | Balance at December 31, 2021 | $ | 5,273 | | | $ | 843 | | $ | 662 | $ | 44 | $ | 6,822 |\n| 18 | Additions | | | | | | | | | | | | | |\n| 19 | Provision for credit losses(2) | 2,233 | | | 99 | | | 24 | | 13 | 2,369 | | | |\n| 20 | Deductions | | | | | | | | | | | | | |\n| 21 | Charge-offs | (2,417) | | | (126) | | | (159) | | - | (2,702) | | | |\n| 22 | Recoveries | 794 | | | 23 | | | 68 | | - | 885 | | | |\n| 23 | Net charge-offs | (1,623) | | | (103) | | | (91) | | - | (1,817) | | | |\n| 25 | Balance at December 31, 2022 | $ | 5,883 | | | $ | 839 | | $ | 595 | $ | 57 | $ | 7,374 |\n| 27 | | For the Year Ended December 31, 2021 | | | | | | | | | | | | |\n| 28 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 29 | Balance at December 31, 2020 | $ | 6,491 | | | $ | 840 | | $ | 857 | $ | 38 | $ | 8,226 |\n| 32 | Additions | | | | | | | | | | | | | |\n| 33 | Provision for credit losses(2) | 229 | | | 67 | | | (75) | | 6 | 227 | | | |\n| 34 | Deductions | | | | | | | | | | | | | |\n| 35 | Charge-offs | (2,255) | | | (89) | | | (190) | | - | (2,534) | | | |\n| 36 | Recoveries | 808 | | | 25 | | | 70 | | - | 903 | | | |\n| 37 | Net charge-offs | (1,447) | | | (64) | | | (120) | | - | (1,631) | | | |\n| 39 | Balance at December 31, 2021 | $ | 5,273 | | | $ | 843 | | $ | 662 | $ | 44 | $ | 6,822 |\n\n\n(1)Represents the adjustment to the allowance for credit losses as a result of the adoption of Accounting Standards Update (\"ASU\") No. 2022-02 on January 1, 2023.\n\n(2)Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in our consolidated statements of financial condition.\n-65-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 62: \nAverage Balance Sheet Analysis\n\n\n(dollars in millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
<\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-earning assets<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>8,192 <\/td><\/td><\/td>5.17 <\/td>%<\/td><\/td>$<\/td>423 <\/td><\/td><\/td>$<\/td>9,279 <\/td><\/td><\/td>1.89 <\/td>%<\/td><\/td>$<\/td>175 <\/td><\/td><\/td>$<\/td>14,236 <\/td><\/td><\/td>0.13 <\/td>%<\/td><\/td>$<\/td>18 <\/td><\/td><\/tr>
Restricted cash<\/td>250 <\/td><\/td><\/td>7.80 <\/td>%<\/td><\/td>20 <\/td><\/td><\/td>515 <\/td><\/td><\/td>1.48 <\/td>%<\/td><\/td>8 <\/td><\/td><\/td>695 <\/td><\/td><\/td>0.03 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Other short-term investments<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>0.12 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Investment securities<\/td>12,938 <\/td><\/td><\/td>3.47 <\/td>%<\/td><\/td>449 <\/td><\/td><\/td>6,988 <\/td><\/td><\/td>2.57 <\/td>%<\/td><\/td>179 <\/td><\/td><\/td>8,713 <\/td><\/td><\/td>2.09 <\/td>%<\/td><\/td>182 <\/td><\/td><\/tr>
Loan receivables(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans(2)(3)<\/td>94,205 <\/td><\/td><\/td>15.33 <\/td>%<\/td><\/td>14,438 <\/td><\/td><\/td>79,243 <\/td><\/td><\/td>13.42 <\/td>%<\/td><\/td>10,632 <\/td><\/td><\/td>69,365 <\/td><\/td><\/td>12.57 <\/td>%<\/td><\/td>8,717 <\/td><\/td><\/tr>
Private student loans<\/td>10,382 <\/td><\/td><\/td>9.95 <\/td>%<\/td><\/td>1,033 <\/td><\/td><\/td>10,240 <\/td><\/td><\/td>8.11 <\/td>%<\/td><\/td>831 <\/td><\/td><\/td>10,057 <\/td><\/td><\/td>7.38 <\/td>%<\/td><\/td>742 <\/td><\/td><\/tr>
Personal loans<\/td>9,011 <\/td><\/td><\/td>12.83 <\/td>%<\/td><\/td>1,156 <\/td><\/td><\/td>7,295 <\/td><\/td><\/td>11.95 <\/td>%<\/td><\/td>872 <\/td><\/td><\/td>6,945 <\/td><\/td><\/td>12.64 <\/td>%<\/td><\/td>878 <\/td><\/td><\/tr>
Other<\/td>4,713 <\/td><\/td><\/td>6.92 <\/td>%<\/td><\/td>326 <\/td><\/td><\/td>2,895 <\/td><\/td><\/td>5.77 <\/td>%<\/td><\/td>167 <\/td><\/td><\/td>2,054 <\/td><\/td><\/td>5.57 <\/td>%<\/td><\/td>114 <\/td><\/td><\/tr>
Total loan receivables<\/td>118,311 <\/td><\/td><\/td>14.33 <\/td>%<\/td><\/td>16,953 <\/td><\/td><\/td>99,673 <\/td><\/td><\/td>12.54 <\/td>%<\/td><\/td>12,502 <\/td><\/td><\/td>88,421 <\/td><\/td><\/td>11.82 <\/td>%<\/td><\/td>10,451 <\/td><\/td><\/tr>
Total interest-earning assets<\/td>139,691 <\/td><\/td><\/td>12.77 <\/td>%<\/td><\/td>17,845 <\/td><\/td><\/td>116,455 <\/td><\/td><\/td>11.05 <\/td>%<\/td><\/td>12,864 <\/td><\/td><\/td>112,241 <\/td><\/td><\/td>9.49 <\/td>%<\/td><\/td>10,651 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(7,936)<\/td><\/td><\/td><\/td><\/td><\/td><\/td>(6,820)<\/td><\/td><\/td><\/td><\/td><\/td><\/td>(7,351)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>6,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>6,070 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>6,237 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total assets(4)<\/td>$<\/td>138,693 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>115,705 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>111,127 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-bearing liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposits<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Time deposits<\/td>$<\/td>38,220 <\/td><\/td><\/td>3.89 <\/td>%<\/td><\/td>$<\/td>1,485 <\/td><\/td><\/td>$<\/td>23,988 <\/td><\/td><\/td>2.02 <\/td>%<\/td><\/td>$<\/td>484 <\/td><\/td><\/td>$<\/td>23,928 <\/td><\/td><\/td>1.84 <\/td>%<\/td><\/td>$<\/td>440 <\/td><\/td><\/tr>
Money market deposits<\/td>8,143 <\/td><\/td><\/td>4.16 <\/td>%<\/td><\/td>339 <\/td><\/td><\/td>8,453 <\/td><\/td><\/td>1.67 <\/td>%<\/td><\/td>141 <\/td><\/td><\/td>8,142 <\/td><\/td><\/td>0.53 <\/td>%<\/td><\/td>43 <\/td><\/td><\/tr>
Other interest-bearing savings deposits<\/td>51,366 <\/td><\/td><\/td>4.01 <\/td>%<\/td><\/td>2,062 <\/td><\/td><\/td>44,276 <\/td><\/td><\/td>1.43 <\/td>%<\/td><\/td>632 <\/td><\/td><\/td>40,912 <\/td><\/td><\/td>0.43 <\/td>%<\/td><\/td>178 <\/td><\/td><\/tr>
Total interest-bearing deposits<\/td>97,729 <\/td><\/td><\/td>3.98 <\/td>%<\/td><\/td>3,886 <\/td><\/td><\/td>76,717 <\/td><\/td><\/td>1.64 <\/td>%<\/td><\/td>1,257 <\/td><\/td><\/td>72,982 <\/td><\/td><\/td>0.91 <\/td>%<\/td><\/td>661 <\/td><\/td><\/tr>
Borrowings<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Short-term borrowings<\/td>44 <\/td><\/td><\/td>10.21 <\/td>%<\/td><\/td>5 <\/td><\/td><\/td>225 <\/td><\/td><\/td>0.70 <\/td>%<\/td><\/td>2 <\/td><\/td><\/td>72 <\/td><\/td><\/td>0.18 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Securitized borrowings(5)(6)(7)<\/td>10,528 <\/td><\/td><\/td>4.30 <\/td>%<\/td><\/td>453 <\/td><\/td><\/td>9,060 <\/td><\/td><\/td>2.41 <\/td>%<\/td><\/td>219 <\/td><\/td><\/td>9,627 <\/td><\/td><\/td>1.06 <\/td>%<\/td><\/td>102 <\/td><\/td><\/tr>
Other long-term borrowings(6)(7)(8)<\/td>9,090 <\/td><\/td><\/td>4.43 <\/td>%<\/td><\/td>402 <\/td><\/td><\/td>9,334 <\/td><\/td><\/td>4.15 <\/td>%<\/td><\/td>387 <\/td><\/td><\/td>9,888 <\/td><\/td><\/td>3.75 <\/td>%<\/td><\/td>371 <\/td><\/td><\/tr>
Total borrowings<\/td>19,662 <\/td><\/td><\/td>4.37 <\/td>%<\/td><\/td>860 <\/td><\/td><\/td>18,619 <\/td><\/td><\/td>3.26 <\/td>%<\/td><\/td>608 <\/td><\/td><\/td>19,587 <\/td><\/td><\/td>2.42 <\/td>%<\/td><\/td>473 <\/td><\/td><\/tr>
Total interest-bearing liabilities<\/td>117,391 <\/td><\/td><\/td>4.04 <\/td>%<\/td><\/td>4,746 <\/td><\/td><\/td>95,336 <\/td><\/td><\/td>1.96 <\/td>%<\/td><\/td>1,865 <\/td><\/td><\/td>92,569 <\/td><\/td><\/td>1.23 <\/td>%<\/td><\/td>1,134 <\/td><\/td><\/tr>
Other liabilities and stockholders' equity(9)<\/td>21,302 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>20,369 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>18,558 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>138,693 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>115,705 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>111,127 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td><\/td><\/td><\/td><\/td>$<\/td>13,099 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>10,999 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>9,517 <\/td><\/td><\/tr>
Net interest margin(10)<\/td><\/td><\/td>11.07 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>11.04 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>10.76 <\/td>%<\/td><\/td><\/td><\/tr>
Net yield on interest-earning assets(11)<\/td><\/td><\/td>9.38 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>9.45 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>8.48 <\/td>%<\/td><\/td><\/td><\/tr>
Interest rate spread(12)<\/td><\/td><\/td>8.73 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>9.09 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>8.26 <\/td>%<\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Average balances of loan receivables and yield calculations include non-accruing loans. If the non-accruing loan balances were excluded, there would not be a material impact on the amounts reported above. \n(2)Interest income on credit card loans includes $468 million, $365 million and $295 million of amortization of balance transfer fees for the years ended December 31, 2023, 2022 and 2021, respectively.\n(3)Includes the impact of interest rate swap agreements used to change a portion of floating-rate assets to fixed-rate assets for the years ended December 31, 2023, 2022 and 2021.\n(4)The return on average assets, based on net income, was 2.12%, 3.80% and 4.90% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(5)Includes the impact of one terminated derivative formerly designated as a cash flow hedge for the years ended December 31, 2023, 2022 and 2021.\n(6)Includes the impact of interest rate swap agreements used to change a portion of fixed-rate funding to floating-rate funding for the years ended December 31, 2023, 2022 and 2021.\n(7)Includes the impact of terminated derivatives formerly designated as fair value hedges for the years ended December 31, 2023, 2022 and 2021.\n(8)Includes the impact of interest rate swap agreements used to change a portion of floating-rate funding to fixed-rate funding for the years ended December 31, 2023 and 2022.\n(9)The return on average stockholders' equity, based on net income, was 21.00%, 32.00% and 43.12% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(10)Net interest margin represents net interest income as a percentage of average total loan receivables.\n(11)Net yield on interest-earning assets represents net interest income as a percentage of average total interest-earning assets.\n(12)Interest rate spread represents the difference between the rate on total interest-earning assets and the rate on total interest-bearing liabilities.\n-62-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 65: The following tables provide changes in our allowance for credit losses (dollars in millions):\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2023<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2022<\/td>$<\/td>5,883 <\/td><\/td><\/td>$<\/td>839 <\/td><\/td><\/td>$<\/td>595 <\/td><\/td><\/td>$<\/td>57 <\/td><\/td><\/td>$<\/td>7,374 <\/td><\/td><\/tr>
Cumulative effect of ASU No. 2022-02 adoption(1)<\/td>(66)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2)<\/td><\/td><\/td>- <\/td><\/td><\/td>(68)<\/td><\/td><\/tr>
Balance at January 1, 2023<\/td>5,817 <\/td><\/td><\/td>839 <\/td><\/td><\/td>593 <\/td><\/td><\/td>57 <\/td><\/td><\/td>7,306 <\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>5,476 <\/td><\/td><\/td>152 <\/td><\/td><\/td>363 <\/td><\/td><\/td>28 <\/td><\/td><\/td>6,019 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(4,481)<\/td><\/td><\/td>(155)<\/td><\/td><\/td>(290)<\/td><\/td><\/td>(1)<\/td><\/td><\/td>(4,927)<\/td><\/td><\/tr>
Recoveries<\/td>807 <\/td><\/td><\/td>22 <\/td><\/td><\/td>56 <\/td><\/td><\/td>- <\/td><\/td><\/td>885 <\/td><\/td><\/tr>
Net charge-offs<\/td>(3,674)<\/td><\/td><\/td>(133)<\/td><\/td><\/td>(234)<\/td><\/td><\/td>(1)<\/td><\/td><\/td>(4,042)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2023<\/td>$<\/td>7,619 <\/td><\/td><\/td>$<\/td>858 <\/td><\/td><\/td>$<\/td>722 <\/td><\/td><\/td>$<\/td>84 <\/td><\/td><\/td>$<\/td>9,283 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2022<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2021<\/td>$<\/td>5,273 <\/td><\/td><\/td>$<\/td>843 <\/td><\/td><\/td>$<\/td>662 <\/td><\/td><\/td>$<\/td>44 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>2,233 <\/td><\/td><\/td>99 <\/td><\/td><\/td>24 <\/td><\/td><\/td>13 <\/td><\/td><\/td>2,369 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(2,417)<\/td><\/td><\/td>(126)<\/td><\/td><\/td>(159)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2,702)<\/td><\/td><\/tr>
Recoveries<\/td>794 <\/td><\/td><\/td>23 <\/td><\/td><\/td>68 <\/td><\/td><\/td>- <\/td><\/td><\/td>885 <\/td><\/td><\/tr>
Net charge-offs<\/td>(1,623)<\/td><\/td><\/td>(103)<\/td><\/td><\/td>(91)<\/td><\/td><\/td>- <\/td><\/td><\/td>(1,817)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2022<\/td>$<\/td>5,883 <\/td><\/td><\/td>$<\/td>839 <\/td><\/td><\/td>$<\/td>595 <\/td><\/td><\/td>$<\/td>57 <\/td><\/td><\/td>$<\/td>7,374 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2021<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2020<\/td>$<\/td>6,491 <\/td><\/td><\/td>$<\/td>840 <\/td><\/td><\/td>$<\/td>857 <\/td><\/td><\/td>$<\/td>38 <\/td><\/td><\/td>$<\/td>8,226 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>229 <\/td><\/td><\/td>67 <\/td><\/td><\/td>(75)<\/td><\/td><\/td>6 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(2,255)<\/td><\/td><\/td>(89)<\/td><\/td><\/td>(190)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2,534)<\/td><\/td><\/tr>
Recoveries<\/td>808 <\/td><\/td><\/td>25 <\/td><\/td><\/td>70 <\/td><\/td><\/td>- <\/td><\/td><\/td>903 <\/td><\/td><\/tr>
Net charge-offs<\/td>(1,447)<\/td><\/td><\/td>(64)<\/td><\/td><\/td>(120)<\/td><\/td><\/td>- <\/td><\/td><\/td>(1,631)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2021<\/td>$<\/td>5,273 <\/td><\/td><\/td>$<\/td>843 <\/td><\/td><\/td>$<\/td>662 <\/td><\/td><\/td>$<\/td>44 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\n\n(1)Represents the adjustment to the allowance for credit losses as a result of the adoption of Accounting Standards Update (\"ASU\") No. 2022-02 on January 1, 2023.\n\n(2)Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in our consolidated statements of financial condition.\n-65-\n\n\n\n\n","context_html_without_headers":"\nAverage Balance Sheet Analysis\n\n\n(dollars in millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
<\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-earning assets<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>8,192 <\/td><\/td><\/td>5.17 <\/td>%<\/td><\/td>$<\/td>423 <\/td><\/td><\/td>$<\/td>9,279 <\/td><\/td><\/td>1.89 <\/td>%<\/td><\/td>$<\/td>175 <\/td><\/td><\/td>$<\/td>14,236 <\/td><\/td><\/td>0.13 <\/td>%<\/td><\/td>$<\/td>18 <\/td><\/td><\/tr>
Restricted cash<\/td>250 <\/td><\/td><\/td>7.80 <\/td>%<\/td><\/td>20 <\/td><\/td><\/td>515 <\/td><\/td><\/td>1.48 <\/td>%<\/td><\/td>8 <\/td><\/td><\/td>695 <\/td><\/td><\/td>0.03 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Other short-term investments<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>0.12 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Investment securities<\/td>12,938 <\/td><\/td><\/td>3.47 <\/td>%<\/td><\/td>449 <\/td><\/td><\/td>6,988 <\/td><\/td><\/td>2.57 <\/td>%<\/td><\/td>179 <\/td><\/td><\/td>8,713 <\/td><\/td><\/td>2.09 <\/td>%<\/td><\/td>182 <\/td><\/td><\/tr>
Loan receivables(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans(2)(3)<\/td>94,205 <\/td><\/td><\/td>15.33 <\/td>%<\/td><\/td>14,438 <\/td><\/td><\/td>79,243 <\/td><\/td><\/td>13.42 <\/td>%<\/td><\/td>10,632 <\/td><\/td><\/td>69,365 <\/td><\/td><\/td>12.57 <\/td>%<\/td><\/td>8,717 <\/td><\/td><\/tr>
Private student loans<\/td>10,382 <\/td><\/td><\/td>9.95 <\/td>%<\/td><\/td>1,033 <\/td><\/td><\/td>10,240 <\/td><\/td><\/td>8.11 <\/td>%<\/td><\/td>831 <\/td><\/td><\/td>10,057 <\/td><\/td><\/td>7.38 <\/td>%<\/td><\/td>742 <\/td><\/td><\/tr>
Personal loans<\/td>9,011 <\/td><\/td><\/td>12.83 <\/td>%<\/td><\/td>1,156 <\/td><\/td><\/td>7,295 <\/td><\/td><\/td>11.95 <\/td>%<\/td><\/td>872 <\/td><\/td><\/td>6,945 <\/td><\/td><\/td>12.64 <\/td>%<\/td><\/td>878 <\/td><\/td><\/tr>
Other<\/td>4,713 <\/td><\/td><\/td>6.92 <\/td>%<\/td><\/td>326 <\/td><\/td><\/td>2,895 <\/td><\/td><\/td>5.77 <\/td>%<\/td><\/td>167 <\/td><\/td><\/td>2,054 <\/td><\/td><\/td>5.57 <\/td>%<\/td><\/td>114 <\/td><\/td><\/tr>
Total loan receivables<\/td>118,311 <\/td><\/td><\/td>14.33 <\/td>%<\/td><\/td>16,953 <\/td><\/td><\/td>99,673 <\/td><\/td><\/td>12.54 <\/td>%<\/td><\/td>12,502 <\/td><\/td><\/td>88,421 <\/td><\/td><\/td>11.82 <\/td>%<\/td><\/td>10,451 <\/td><\/td><\/tr>
Total interest-earning assets<\/td>139,691 <\/td><\/td><\/td>12.77 <\/td>%<\/td><\/td>17,845 <\/td><\/td><\/td>116,455 <\/td><\/td><\/td>11.05 <\/td>%<\/td><\/td>12,864 <\/td><\/td><\/td>112,241 <\/td><\/td><\/td>9.49 <\/td>%<\/td><\/td>10,651 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(7,936)<\/td><\/td><\/td><\/td><\/td><\/td><\/td>(6,820)<\/td><\/td><\/td><\/td><\/td><\/td><\/td>(7,351)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>6,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>6,070 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>6,237 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total assets(4)<\/td>$<\/td>138,693 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>115,705 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>111,127 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-bearing liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposits<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Time deposits<\/td>$<\/td>38,220 <\/td><\/td><\/td>3.89 <\/td>%<\/td><\/td>$<\/td>1,485 <\/td><\/td><\/td>$<\/td>23,988 <\/td><\/td><\/td>2.02 <\/td>%<\/td><\/td>$<\/td>484 <\/td><\/td><\/td>$<\/td>23,928 <\/td><\/td><\/td>1.84 <\/td>%<\/td><\/td>$<\/td>440 <\/td><\/td><\/tr>
Money market deposits<\/td>8,143 <\/td><\/td><\/td>4.16 <\/td>%<\/td><\/td>339 <\/td><\/td><\/td>8,453 <\/td><\/td><\/td>1.67 <\/td>%<\/td><\/td>141 <\/td><\/td><\/td>8,142 <\/td><\/td><\/td>0.53 <\/td>%<\/td><\/td>43 <\/td><\/td><\/tr>
Other interest-bearing savings deposits<\/td>51,366 <\/td><\/td><\/td>4.01 <\/td>%<\/td><\/td>2,062 <\/td><\/td><\/td>44,276 <\/td><\/td><\/td>1.43 <\/td>%<\/td><\/td>632 <\/td><\/td><\/td>40,912 <\/td><\/td><\/td>0.43 <\/td>%<\/td><\/td>178 <\/td><\/td><\/tr>
Total interest-bearing deposits<\/td>97,729 <\/td><\/td><\/td>3.98 <\/td>%<\/td><\/td>3,886 <\/td><\/td><\/td>76,717 <\/td><\/td><\/td>1.64 <\/td>%<\/td><\/td>1,257 <\/td><\/td><\/td>72,982 <\/td><\/td><\/td>0.91 <\/td>%<\/td><\/td>661 <\/td><\/td><\/tr>
Borrowings<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Short-term borrowings<\/td>44 <\/td><\/td><\/td>10.21 <\/td>%<\/td><\/td>5 <\/td><\/td><\/td>225 <\/td><\/td><\/td>0.70 <\/td>%<\/td><\/td>2 <\/td><\/td><\/td>72 <\/td><\/td><\/td>0.18 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Securitized borrowings(5)(6)(7)<\/td>10,528 <\/td><\/td><\/td>4.30 <\/td>%<\/td><\/td>453 <\/td><\/td><\/td>9,060 <\/td><\/td><\/td>2.41 <\/td>%<\/td><\/td>219 <\/td><\/td><\/td>9,627 <\/td><\/td><\/td>1.06 <\/td>%<\/td><\/td>102 <\/td><\/td><\/tr>
Other long-term borrowings(6)(7)(8)<\/td>9,090 <\/td><\/td><\/td>4.43 <\/td>%<\/td><\/td>402 <\/td><\/td><\/td>9,334 <\/td><\/td><\/td>4.15 <\/td>%<\/td><\/td>387 <\/td><\/td><\/td>9,888 <\/td><\/td><\/td>3.75 <\/td>%<\/td><\/td>371 <\/td><\/td><\/tr>
Total borrowings<\/td>19,662 <\/td><\/td><\/td>4.37 <\/td>%<\/td><\/td>860 <\/td><\/td><\/td>18,619 <\/td><\/td><\/td>3.26 <\/td>%<\/td><\/td>608 <\/td><\/td><\/td>19,587 <\/td><\/td><\/td>2.42 <\/td>%<\/td><\/td>473 <\/td><\/td><\/tr>
Total interest-bearing liabilities<\/td>117,391 <\/td><\/td><\/td>4.04 <\/td>%<\/td><\/td>4,746 <\/td><\/td><\/td>95,336 <\/td><\/td><\/td>1.96 <\/td>%<\/td><\/td>1,865 <\/td><\/td><\/td>92,569 <\/td><\/td><\/td>1.23 <\/td>%<\/td><\/td>1,134 <\/td><\/td><\/tr>
Other liabilities and stockholders' equity(9)<\/td>21,302 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>20,369 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>18,558 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>138,693 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>115,705 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>111,127 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td><\/td><\/td><\/td><\/td>$<\/td>13,099 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>10,999 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>9,517 <\/td><\/td><\/tr>
Net interest margin(10)<\/td><\/td><\/td>11.07 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>11.04 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>10.76 <\/td>%<\/td><\/td><\/td><\/tr>
Net yield on interest-earning assets(11)<\/td><\/td><\/td>9.38 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>9.45 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>8.48 <\/td>%<\/td><\/td><\/td><\/tr>
Interest rate spread(12)<\/td><\/td><\/td>8.73 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>9.09 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>8.26 <\/td>%<\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Average balances of loan receivables and yield calculations include non-accruing loans. If the non-accruing loan balances were excluded, there would not be a material impact on the amounts reported above. \n(2)Interest income on credit card loans includes $468 million, $365 million and $295 million of amortization of balance transfer fees for the years ended December 31, 2023, 2022 and 2021, respectively.\n(3)Includes the impact of interest rate swap agreements used to change a portion of floating-rate assets to fixed-rate assets for the years ended December 31, 2023, 2022 and 2021.\n(4)The return on average assets, based on net income, was 2.12%, 3.80% and 4.90% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(5)Includes the impact of one terminated derivative formerly designated as a cash flow hedge for the years ended December 31, 2023, 2022 and 2021.\n(6)Includes the impact of interest rate swap agreements used to change a portion of fixed-rate funding to floating-rate funding for the years ended December 31, 2023, 2022 and 2021.\n(7)Includes the impact of terminated derivatives formerly designated as fair value hedges for the years ended December 31, 2023, 2022 and 2021.\n(8)Includes the impact of interest rate swap agreements used to change a portion of floating-rate funding to fixed-rate funding for the years ended December 31, 2023 and 2022.\n(9)The return on average stockholders' equity, based on net income, was 21.00%, 32.00% and 43.12% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(10)Net interest margin represents net interest income as a percentage of average total loan receivables.\n(11)Net yield on interest-earning assets represents net interest income as a percentage of average total interest-earning assets.\n(12)Interest rate spread represents the difference between the rate on total interest-earning assets and the rate on total interest-bearing liabilities.\n-62-\n\n\n\n\n, The following tables provide changes in our allowance for credit losses (dollars in millions):\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2023<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2022<\/td>$<\/td>5,883 <\/td><\/td><\/td>$<\/td>839 <\/td><\/td><\/td>$<\/td>595 <\/td><\/td><\/td>$<\/td>57 <\/td><\/td><\/td>$<\/td>7,374 <\/td><\/td><\/tr>
Cumulative effect of ASU No. 2022-02 adoption(1)<\/td>(66)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2)<\/td><\/td><\/td>- <\/td><\/td><\/td>(68)<\/td><\/td><\/tr>
Balance at January 1, 2023<\/td>5,817 <\/td><\/td><\/td>839 <\/td><\/td><\/td>593 <\/td><\/td><\/td>57 <\/td><\/td><\/td>7,306 <\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>5,476 <\/td><\/td><\/td>152 <\/td><\/td><\/td>363 <\/td><\/td><\/td>28 <\/td><\/td><\/td>6,019 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(4,481)<\/td><\/td><\/td>(155)<\/td><\/td><\/td>(290)<\/td><\/td><\/td>(1)<\/td><\/td><\/td>(4,927)<\/td><\/td><\/tr>
Recoveries<\/td>807 <\/td><\/td><\/td>22 <\/td><\/td><\/td>56 <\/td><\/td><\/td>- <\/td><\/td><\/td>885 <\/td><\/td><\/tr>
Net charge-offs<\/td>(3,674)<\/td><\/td><\/td>(133)<\/td><\/td><\/td>(234)<\/td><\/td><\/td>(1)<\/td><\/td><\/td>(4,042)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2023<\/td>$<\/td>7,619 <\/td><\/td><\/td>$<\/td>858 <\/td><\/td><\/td>$<\/td>722 <\/td><\/td><\/td>$<\/td>84 <\/td><\/td><\/td>$<\/td>9,283 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2022<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2021<\/td>$<\/td>5,273 <\/td><\/td><\/td>$<\/td>843 <\/td><\/td><\/td>$<\/td>662 <\/td><\/td><\/td>$<\/td>44 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>2,233 <\/td><\/td><\/td>99 <\/td><\/td><\/td>24 <\/td><\/td><\/td>13 <\/td><\/td><\/td>2,369 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(2,417)<\/td><\/td><\/td>(126)<\/td><\/td><\/td>(159)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2,702)<\/td><\/td><\/tr>
Recoveries<\/td>794 <\/td><\/td><\/td>23 <\/td><\/td><\/td>68 <\/td><\/td><\/td>- <\/td><\/td><\/td>885 <\/td><\/td><\/tr>
Net charge-offs<\/td>(1,623)<\/td><\/td><\/td>(103)<\/td><\/td><\/td>(91)<\/td><\/td><\/td>- <\/td><\/td><\/td>(1,817)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2022<\/td>$<\/td>5,883 <\/td><\/td><\/td>$<\/td>839 <\/td><\/td><\/td>$<\/td>595 <\/td><\/td><\/td>$<\/td>57 <\/td><\/td><\/td>$<\/td>7,374 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2021<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2020<\/td>$<\/td>6,491 <\/td><\/td><\/td>$<\/td>840 <\/td><\/td><\/td>$<\/td>857 <\/td><\/td><\/td>$<\/td>38 <\/td><\/td><\/td>$<\/td>8,226 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>229 <\/td><\/td><\/td>67 <\/td><\/td><\/td>(75)<\/td><\/td><\/td>6 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(2,255)<\/td><\/td><\/td>(89)<\/td><\/td><\/td>(190)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2,534)<\/td><\/td><\/tr>
Recoveries<\/td>808 <\/td><\/td><\/td>25 <\/td><\/td><\/td>70 <\/td><\/td><\/td>- <\/td><\/td><\/td>903 <\/td><\/td><\/tr>
Net charge-offs<\/td>(1,447)<\/td><\/td><\/td>(64)<\/td><\/td><\/td>(120)<\/td><\/td><\/td>- <\/td><\/td><\/td>(1,631)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2021<\/td>$<\/td>5,273 <\/td><\/td><\/td>$<\/td>843 <\/td><\/td><\/td>$<\/td>662 <\/td><\/td><\/td>$<\/td>44 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\n\n(1)Represents the adjustment to the allowance for credit losses as a result of the adoption of Accounting Standards Update (\"ASU\") No. 2022-02 on January 1, 2023.\n\n(2)Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in our consolidated statements of financial condition.\n-65-\n\n\n\n\n"} +{"QID":"q_Ra018","Question":"What does the change in Discover\u2019s Charge-Off Ratio compare to previous years imply?","ground_truth_answer":"In 2023, Discover Financial Services\u2019 Charge-Off Ratio increased to approximately 3.41%, up from 1.82% in 2022 and 1.84% in 2021. This significant increase indicates a notable rise in the proportion of loan receivables deemed uncollectible. The rise in the Charge-Off Ratio reflects a deterioration in the company\u2019s credit quality over the past year, suggesting that a larger percentage of its loan portfolio is facing defaults or delinquencies.","question_type":"Ratio","page_number":"62, 65","accession_number":"0001393612-24-000010","item":"Item 7. Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 62: \nAverage Balance Sheet Analysis\n\n\n(dollars in millions)\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n|---:|:----------------------------------------------|:---------------------------------|:--------|:-----------|:------|:---------|:-------|:----------------|:--------|:-----------|:--------|:---------|:---|:----------------|:-------|:-----------|:-------|:---------|:--------|:--------|:----|:---|:------|:---|:-------|:-------|:-----|:---|:---|:----|\n| 1 | | For the Years Ended December 31, | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | |\n| 3 | | Average Balance | | Yield\/Rate | | Interest | | Average Balance | | Yield\/Rate | | Interest | | Average Balance | | Yield\/Rate | | Interest | | | | | | | | | | | | |\n| 4 | Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 5 | Interest-earning assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 6 | Cash and cash equivalents | $ | 8,192 | | | 5.17 | % | | $ | 423 | | | $ | 9,279 | | | 1.89 | % | | $ | 175 | | | $ | 14,236 | | 0.13 | % | $ | 18 |\n| 7 | Restricted cash | 250 | | | 7.80 | % | | 20 | | | 515 | | | 1.48 | % | | 8 | | | 695 | | | 0.03 | % | | NM | | | | |\n| 8 | Other short-term investments | - | | | - | | | - | | | - | | | - | | | - | | | 176 | | | 0.12 | % | | NM | | | | |\n| 9 | Investment securities | 12,938 | | | 3.47 | % | | 449 | | | 6,988 | | | 2.57 | % | | 179 | | | 8,713 | | | 2.09 | % | | 182 | | | | |\n| 10 | Loan receivables(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 11 | Credit card loans(2)(3) | 94,205 | | | 15.33 | % | | 14,438 | | | 79,243 | | | 13.42 | % | | 10,632 | | | 69,365 | | | 12.57 | % | | 8,717 | | | | |\n| 12 | Private student loans | 10,382 | | | 9.95 | % | | 1,033 | | | 10,240 | | | 8.11 | % | | 831 | | | 10,057 | | | 7.38 | % | | 742 | | | | |\n| 13 | Personal loans | 9,011 | | | 12.83 | % | | 1,156 | | | 7,295 | | | 11.95 | % | | 872 | | | 6,945 | | | 12.64 | % | | 878 | | | | |\n| 14 | Other | 4,713 | | | 6.92 | % | | 326 | | | 2,895 | | | 5.77 | % | | 167 | | | 2,054 | | | 5.57 | % | | 114 | | | | |\n| 15 | Total loan receivables | 118,311 | | | 14.33 | % | | 16,953 | | | 99,673 | | | 12.54 | % | | 12,502 | | | 88,421 | | | 11.82 | % | | 10,451 | | | | |\n| 16 | Total interest-earning assets | 139,691 | | | 12.77 | % | | 17,845 | | | 116,455 | | | 11.05 | % | | 12,864 | | | 112,241 | | | 9.49 | % | | 10,651 | | | | |\n| 17 | Allowance for credit losses | (7,936) | | | | | | | (6,820) | | | | | | | (7,351) | | | | | | | | | | | | | | |\n| 18 | Other assets | 6,938 | | | | | | | 6,070 | | | | | | | 6,237 | | | | | | | | | | | | | | |\n| 19 | Total assets(4) | $ | 138,693 | | | | | | | $ | 115,705 | | | | | | | $ | 111,127 | | | | | | | | | | | |\n| 20 | Liabilities and Stockholders' Equity | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 21 | Interest-bearing liabilities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 22 | Interest-bearing deposits | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 23 | Time deposits | $ | 38,220 | | | 3.89 | % | | $ | 1,485 | | | $ | 23,988 | | | 2.02 | % | | $ | 484 | | | $ | 23,928 | | 1.84 | % | $ | 440 |\n| 24 | Money market deposits | 8,143 | | | 4.16 | % | | 339 | | | 8,453 | | | 1.67 | % | | 141 | | | 8,142 | | | 0.53 | % | | 43 | | | | |\n| 25 | Other interest-bearing savings deposits | 51,366 | | | 4.01 | % | | 2,062 | | | 44,276 | | | 1.43 | % | | 632 | | | 40,912 | | | 0.43 | % | | 178 | | | | |\n| 26 | Total interest-bearing deposits | 97,729 | | | 3.98 | % | | 3,886 | | | 76,717 | | | 1.64 | % | | 1,257 | | | 72,982 | | | 0.91 | % | | 661 | | | | |\n| 27 | Borrowings | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 28 | Short-term borrowings | 44 | | | 10.21 | % | | 5 | | | 225 | | | 0.70 | % | | 2 | | | 72 | | | 0.18 | % | | NM | | | | |\n| 29 | Securitized borrowings(5)(6)(7) | 10,528 | | | 4.30 | % | | 453 | | | 9,060 | | | 2.41 | % | | 219 | | | 9,627 | | | 1.06 | % | | 102 | | | | |\n| 30 | Other long-term borrowings(6)(7)(8) | 9,090 | | | 4.43 | % | | 402 | | | 9,334 | | | 4.15 | % | | 387 | | | 9,888 | | | 3.75 | % | | 371 | | | | |\n| 31 | Total borrowings | 19,662 | | | 4.37 | % | | 860 | | | 18,619 | | | 3.26 | % | | 608 | | | 19,587 | | | 2.42 | % | | 473 | | | | |\n| 32 | Total interest-bearing liabilities | 117,391 | | | 4.04 | % | | 4,746 | | | 95,336 | | | 1.96 | % | | 1,865 | | | 92,569 | | | 1.23 | % | | 1,134 | | | | |\n| 33 | Other liabilities and stockholders' equity(9) | 21,302 | | | | | | | 20,369 | | | | | | | 18,558 | | | | | | | | | | | | | | |\n| 34 | Total liabilities and stockholders' equity | $ | 138,693 | | | | | | | $ | 115,705 | | | | | | | $ | 111,127 | | | | | | | | | | | |\n| 35 | Net interest income | | | | | $ | 13,099 | | | | | | | $ | 10,999 | | | | | | | $ | 9,517 | | | | | | | |\n| 36 | Net interest margin(10) | | | 11.07 | % | | | | | | 11.04 | % | | | | | | 10.76 | % | | | | | | | | | | | |\n| 37 | Net yield on interest-earning assets(11) | | | 9.38 | % | | | | | | 9.45 | % | | | | | | 8.48 | % | | | | | | | | | | | |\n| 38 | Interest rate spread(12) | | | 8.73 | % | | | | | | 9.09 | % | | | | | | 8.26 | % | | | | | | | | | | | |\n(1)Average balances of loan receivables and yield calculations include non-accruing loans. If the non-accruing loan balances were excluded, there would not be a material impact on the amounts reported above. \n(2)Interest income on credit card loans includes $468 million, $365 million and $295 million of amortization of balance transfer fees for the years ended December 31, 2023, 2022 and 2021, respectively.\n(3)Includes the impact of interest rate swap agreements used to change a portion of floating-rate assets to fixed-rate assets for the years ended December 31, 2023, 2022 and 2021.\n(4)The return on average assets, based on net income, was 2.12%, 3.80% and 4.90% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(5)Includes the impact of one terminated derivative formerly designated as a cash flow hedge for the years ended December 31, 2023, 2022 and 2021.\n(6)Includes the impact of interest rate swap agreements used to change a portion of fixed-rate funding to floating-rate funding for the years ended December 31, 2023, 2022 and 2021.\n(7)Includes the impact of terminated derivatives formerly designated as fair value hedges for the years ended December 31, 2023, 2022 and 2021.\n(8)Includes the impact of interest rate swap agreements used to change a portion of floating-rate funding to fixed-rate funding for the years ended December 31, 2023 and 2022.\n(9)The return on average stockholders' equity, based on net income, was 21.00%, 32.00% and 43.12% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(10)Net interest margin represents net interest income as a percentage of average total loan receivables.\n(11)Net yield on interest-earning assets represents net interest income as a percentage of average total interest-earning assets.\n(12)Interest rate spread represents the difference between the rate on total interest-earning assets and the rate on total interest-bearing liabilities.\n-62-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 65: The following tables provide changes in our allowance for credit losses (dollars in millions):\n| | | | | | | | | | | | | | | |\n|---:|:-------------------------------------------------|:-------------------------------------|:------|:---------------------|:------|:---------------|:----|:------------|:------------|:----|:--------|:---|:---|:------|\n| 1 | | For the Year Ended December 31, 2023 | | | | | | | | | | | | |\n| 2 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 3 | Balance at December 31, 2022 | $ | 5,883 | | | $ | 839 | | $ | 595 | $ | 57 | $ | 7,374 |\n| 4 | Cumulative effect of ASU No. 2022-02 adoption(1) | (66) | | | - | | | (2) | | - | (68) | | | |\n| 5 | Balance at January 1, 2023 | 5,817 | | | 839 | | | 593 | | 57 | 7,306 | | | |\n| 6 | Additions | | | | | | | | | | | | | |\n| 7 | Provision for credit losses(2) | 5,476 | | | 152 | | | 363 | | 28 | 6,019 | | | |\n| 8 | Deductions | | | | | | | | | | | | | |\n| 9 | Charge-offs | (4,481) | | | (155) | | | (290) | | (1) | (4,927) | | | |\n| 10 | Recoveries | 807 | | | 22 | | | 56 | | - | 885 | | | |\n| 11 | Net charge-offs | (3,674) | | | (133) | | | (234) | | (1) | (4,042) | | | |\n| 13 | Balance at December 31, 2023 | $ | 7,619 | | | $ | 858 | | $ | 722 | $ | 84 | $ | 9,283 |\n| 15 | | For the Year Ended December 31, 2022 | | | | | | | | | | | | |\n| 16 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 17 | Balance at December 31, 2021 | $ | 5,273 | | | $ | 843 | | $ | 662 | $ | 44 | $ | 6,822 |\n| 18 | Additions | | | | | | | | | | | | | |\n| 19 | Provision for credit losses(2) | 2,233 | | | 99 | | | 24 | | 13 | 2,369 | | | |\n| 20 | Deductions | | | | | | | | | | | | | |\n| 21 | Charge-offs | (2,417) | | | (126) | | | (159) | | - | (2,702) | | | |\n| 22 | Recoveries | 794 | | | 23 | | | 68 | | - | 885 | | | |\n| 23 | Net charge-offs | (1,623) | | | (103) | | | (91) | | - | (1,817) | | | |\n| 25 | Balance at December 31, 2022 | $ | 5,883 | | | $ | 839 | | $ | 595 | $ | 57 | $ | 7,374 |\n| 27 | | For the Year Ended December 31, 2021 | | | | | | | | | | | | |\n| 28 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 29 | Balance at December 31, 2020 | $ | 6,491 | | | $ | 840 | | $ | 857 | $ | 38 | $ | 8,226 |\n| 32 | Additions | | | | | | | | | | | | | |\n| 33 | Provision for credit losses(2) | 229 | | | 67 | | | (75) | | 6 | 227 | | | |\n| 34 | Deductions | | | | | | | | | | | | | |\n| 35 | Charge-offs | (2,255) | | | (89) | | | (190) | | - | (2,534) | | | |\n| 36 | Recoveries | 808 | | | 25 | | | 70 | | - | 903 | | | |\n| 37 | Net charge-offs | (1,447) | | | (64) | | | (120) | | - | (1,631) | | | |\n| 39 | Balance at December 31, 2021 | $ | 5,273 | | | $ | 843 | | $ | 662 | $ | 44 | $ | 6,822 |\n\n\n(1)Represents the adjustment to the allowance for credit losses as a result of the adoption of Accounting Standards Update (\"ASU\") No. 2022-02 on January 1, 2023.\n\n(2)Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in our consolidated statements of financial condition.\n-65-\n\n\n\n\n","context_markdown_without_headers":"\nAverage Balance Sheet Analysis\n\n\n(dollars in millions)\n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n|---:|:----------------------------------------------|:---------------------------------|:--------|:-----------|:------|:---------|:-------|:----------------|:--------|:-----------|:--------|:---------|:---|:----------------|:-------|:-----------|:-------|:---------|:--------|:--------|:----|:---|:------|:---|:-------|:-------|:-----|:---|:---|:----|\n| 1 | | For the Years Ended December 31, | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | |\n| 3 | | Average Balance | | Yield\/Rate | | Interest | | Average Balance | | Yield\/Rate | | Interest | | Average Balance | | Yield\/Rate | | Interest | | | | | | | | | | | | |\n| 4 | Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 5 | Interest-earning assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 6 | Cash and cash equivalents | $ | 8,192 | | | 5.17 | % | | $ | 423 | | | $ | 9,279 | | | 1.89 | % | | $ | 175 | | | $ | 14,236 | | 0.13 | % | $ | 18 |\n| 7 | Restricted cash | 250 | | | 7.80 | % | | 20 | | | 515 | | | 1.48 | % | | 8 | | | 695 | | | 0.03 | % | | NM | | | | |\n| 8 | Other short-term investments | - | | | - | | | - | | | - | | | - | | | - | | | 176 | | | 0.12 | % | | NM | | | | |\n| 9 | Investment securities | 12,938 | | | 3.47 | % | | 449 | | | 6,988 | | | 2.57 | % | | 179 | | | 8,713 | | | 2.09 | % | | 182 | | | | |\n| 10 | Loan receivables(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 11 | Credit card loans(2)(3) | 94,205 | | | 15.33 | % | | 14,438 | | | 79,243 | | | 13.42 | % | | 10,632 | | | 69,365 | | | 12.57 | % | | 8,717 | | | | |\n| 12 | Private student loans | 10,382 | | | 9.95 | % | | 1,033 | | | 10,240 | | | 8.11 | % | | 831 | | | 10,057 | | | 7.38 | % | | 742 | | | | |\n| 13 | Personal loans | 9,011 | | | 12.83 | % | | 1,156 | | | 7,295 | | | 11.95 | % | | 872 | | | 6,945 | | | 12.64 | % | | 878 | | | | |\n| 14 | Other | 4,713 | | | 6.92 | % | | 326 | | | 2,895 | | | 5.77 | % | | 167 | | | 2,054 | | | 5.57 | % | | 114 | | | | |\n| 15 | Total loan receivables | 118,311 | | | 14.33 | % | | 16,953 | | | 99,673 | | | 12.54 | % | | 12,502 | | | 88,421 | | | 11.82 | % | | 10,451 | | | | |\n| 16 | Total interest-earning assets | 139,691 | | | 12.77 | % | | 17,845 | | | 116,455 | | | 11.05 | % | | 12,864 | | | 112,241 | | | 9.49 | % | | 10,651 | | | | |\n| 17 | Allowance for credit losses | (7,936) | | | | | | | (6,820) | | | | | | | (7,351) | | | | | | | | | | | | | | |\n| 18 | Other assets | 6,938 | | | | | | | 6,070 | | | | | | | 6,237 | | | | | | | | | | | | | | |\n| 19 | Total assets(4) | $ | 138,693 | | | | | | | $ | 115,705 | | | | | | | $ | 111,127 | | | | | | | | | | | |\n| 20 | Liabilities and Stockholders' Equity | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 21 | Interest-bearing liabilities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 22 | Interest-bearing deposits | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 23 | Time deposits | $ | 38,220 | | | 3.89 | % | | $ | 1,485 | | | $ | 23,988 | | | 2.02 | % | | $ | 484 | | | $ | 23,928 | | 1.84 | % | $ | 440 |\n| 24 | Money market deposits | 8,143 | | | 4.16 | % | | 339 | | | 8,453 | | | 1.67 | % | | 141 | | | 8,142 | | | 0.53 | % | | 43 | | | | |\n| 25 | Other interest-bearing savings deposits | 51,366 | | | 4.01 | % | | 2,062 | | | 44,276 | | | 1.43 | % | | 632 | | | 40,912 | | | 0.43 | % | | 178 | | | | |\n| 26 | Total interest-bearing deposits | 97,729 | | | 3.98 | % | | 3,886 | | | 76,717 | | | 1.64 | % | | 1,257 | | | 72,982 | | | 0.91 | % | | 661 | | | | |\n| 27 | Borrowings | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |\n| 28 | Short-term borrowings | 44 | | | 10.21 | % | | 5 | | | 225 | | | 0.70 | % | | 2 | | | 72 | | | 0.18 | % | | NM | | | | |\n| 29 | Securitized borrowings(5)(6)(7) | 10,528 | | | 4.30 | % | | 453 | | | 9,060 | | | 2.41 | % | | 219 | | | 9,627 | | | 1.06 | % | | 102 | | | | |\n| 30 | Other long-term borrowings(6)(7)(8) | 9,090 | | | 4.43 | % | | 402 | | | 9,334 | | | 4.15 | % | | 387 | | | 9,888 | | | 3.75 | % | | 371 | | | | |\n| 31 | Total borrowings | 19,662 | | | 4.37 | % | | 860 | | | 18,619 | | | 3.26 | % | | 608 | | | 19,587 | | | 2.42 | % | | 473 | | | | |\n| 32 | Total interest-bearing liabilities | 117,391 | | | 4.04 | % | | 4,746 | | | 95,336 | | | 1.96 | % | | 1,865 | | | 92,569 | | | 1.23 | % | | 1,134 | | | | |\n| 33 | Other liabilities and stockholders' equity(9) | 21,302 | | | | | | | 20,369 | | | | | | | 18,558 | | | | | | | | | | | | | | |\n| 34 | Total liabilities and stockholders' equity | $ | 138,693 | | | | | | | $ | 115,705 | | | | | | | $ | 111,127 | | | | | | | | | | | |\n| 35 | Net interest income | | | | | $ | 13,099 | | | | | | | $ | 10,999 | | | | | | | $ | 9,517 | | | | | | | |\n| 36 | Net interest margin(10) | | | 11.07 | % | | | | | | 11.04 | % | | | | | | 10.76 | % | | | | | | | | | | | |\n| 37 | Net yield on interest-earning assets(11) | | | 9.38 | % | | | | | | 9.45 | % | | | | | | 8.48 | % | | | | | | | | | | | |\n| 38 | Interest rate spread(12) | | | 8.73 | % | | | | | | 9.09 | % | | | | | | 8.26 | % | | | | | | | | | | | |\n(1)Average balances of loan receivables and yield calculations include non-accruing loans. If the non-accruing loan balances were excluded, there would not be a material impact on the amounts reported above. \n(2)Interest income on credit card loans includes $468 million, $365 million and $295 million of amortization of balance transfer fees for the years ended December 31, 2023, 2022 and 2021, respectively.\n(3)Includes the impact of interest rate swap agreements used to change a portion of floating-rate assets to fixed-rate assets for the years ended December 31, 2023, 2022 and 2021.\n(4)The return on average assets, based on net income, was 2.12%, 3.80% and 4.90% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(5)Includes the impact of one terminated derivative formerly designated as a cash flow hedge for the years ended December 31, 2023, 2022 and 2021.\n(6)Includes the impact of interest rate swap agreements used to change a portion of fixed-rate funding to floating-rate funding for the years ended December 31, 2023, 2022 and 2021.\n(7)Includes the impact of terminated derivatives formerly designated as fair value hedges for the years ended December 31, 2023, 2022 and 2021.\n(8)Includes the impact of interest rate swap agreements used to change a portion of floating-rate funding to fixed-rate funding for the years ended December 31, 2023 and 2022.\n(9)The return on average stockholders' equity, based on net income, was 21.00%, 32.00% and 43.12% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(10)Net interest margin represents net interest income as a percentage of average total loan receivables.\n(11)Net yield on interest-earning assets represents net interest income as a percentage of average total interest-earning assets.\n(12)Interest rate spread represents the difference between the rate on total interest-earning assets and the rate on total interest-bearing liabilities.\n-62-\n\n\n\n\n, The following tables provide changes in our allowance for credit losses (dollars in millions):\n| | | | | | | | | | | | | | | |\n|---:|:-------------------------------------------------|:-------------------------------------|:------|:---------------------|:------|:---------------|:----|:------------|:------------|:----|:--------|:---|:---|:------|\n| 1 | | For the Year Ended December 31, 2023 | | | | | | | | | | | | |\n| 2 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 3 | Balance at December 31, 2022 | $ | 5,883 | | | $ | 839 | | $ | 595 | $ | 57 | $ | 7,374 |\n| 4 | Cumulative effect of ASU No. 2022-02 adoption(1) | (66) | | | - | | | (2) | | - | (68) | | | |\n| 5 | Balance at January 1, 2023 | 5,817 | | | 839 | | | 593 | | 57 | 7,306 | | | |\n| 6 | Additions | | | | | | | | | | | | | |\n| 7 | Provision for credit losses(2) | 5,476 | | | 152 | | | 363 | | 28 | 6,019 | | | |\n| 8 | Deductions | | | | | | | | | | | | | |\n| 9 | Charge-offs | (4,481) | | | (155) | | | (290) | | (1) | (4,927) | | | |\n| 10 | Recoveries | 807 | | | 22 | | | 56 | | - | 885 | | | |\n| 11 | Net charge-offs | (3,674) | | | (133) | | | (234) | | (1) | (4,042) | | | |\n| 13 | Balance at December 31, 2023 | $ | 7,619 | | | $ | 858 | | $ | 722 | $ | 84 | $ | 9,283 |\n| 15 | | For the Year Ended December 31, 2022 | | | | | | | | | | | | |\n| 16 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 17 | Balance at December 31, 2021 | $ | 5,273 | | | $ | 843 | | $ | 662 | $ | 44 | $ | 6,822 |\n| 18 | Additions | | | | | | | | | | | | | |\n| 19 | Provision for credit losses(2) | 2,233 | | | 99 | | | 24 | | 13 | 2,369 | | | |\n| 20 | Deductions | | | | | | | | | | | | | |\n| 21 | Charge-offs | (2,417) | | | (126) | | | (159) | | - | (2,702) | | | |\n| 22 | Recoveries | 794 | | | 23 | | | 68 | | - | 885 | | | |\n| 23 | Net charge-offs | (1,623) | | | (103) | | | (91) | | - | (1,817) | | | |\n| 25 | Balance at December 31, 2022 | $ | 5,883 | | | $ | 839 | | $ | 595 | $ | 57 | $ | 7,374 |\n| 27 | | For the Year Ended December 31, 2021 | | | | | | | | | | | | |\n| 28 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 29 | Balance at December 31, 2020 | $ | 6,491 | | | $ | 840 | | $ | 857 | $ | 38 | $ | 8,226 |\n| 32 | Additions | | | | | | | | | | | | | |\n| 33 | Provision for credit losses(2) | 229 | | | 67 | | | (75) | | 6 | 227 | | | |\n| 34 | Deductions | | | | | | | | | | | | | |\n| 35 | Charge-offs | (2,255) | | | (89) | | | (190) | | - | (2,534) | | | |\n| 36 | Recoveries | 808 | | | 25 | | | 70 | | - | 903 | | | |\n| 37 | Net charge-offs | (1,447) | | | (64) | | | (120) | | - | (1,631) | | | |\n| 39 | Balance at December 31, 2021 | $ | 5,273 | | | $ | 843 | | $ | 662 | $ | 44 | $ | 6,822 |\n\n\n(1)Represents the adjustment to the allowance for credit losses as a result of the adoption of Accounting Standards Update (\"ASU\") No. 2022-02 on January 1, 2023.\n\n(2)Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in our consolidated statements of financial condition.\n-65-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 62: \nAverage Balance Sheet Analysis\n\n\n(dollars in millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
<\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-earning assets<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>8,192 <\/td><\/td><\/td>5.17 <\/td>%<\/td><\/td>$<\/td>423 <\/td><\/td><\/td>$<\/td>9,279 <\/td><\/td><\/td>1.89 <\/td>%<\/td><\/td>$<\/td>175 <\/td><\/td><\/td>$<\/td>14,236 <\/td><\/td><\/td>0.13 <\/td>%<\/td><\/td>$<\/td>18 <\/td><\/td><\/tr>
Restricted cash<\/td>250 <\/td><\/td><\/td>7.80 <\/td>%<\/td><\/td>20 <\/td><\/td><\/td>515 <\/td><\/td><\/td>1.48 <\/td>%<\/td><\/td>8 <\/td><\/td><\/td>695 <\/td><\/td><\/td>0.03 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Other short-term investments<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>0.12 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Investment securities<\/td>12,938 <\/td><\/td><\/td>3.47 <\/td>%<\/td><\/td>449 <\/td><\/td><\/td>6,988 <\/td><\/td><\/td>2.57 <\/td>%<\/td><\/td>179 <\/td><\/td><\/td>8,713 <\/td><\/td><\/td>2.09 <\/td>%<\/td><\/td>182 <\/td><\/td><\/tr>
Loan receivables(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans(2)(3)<\/td>94,205 <\/td><\/td><\/td>15.33 <\/td>%<\/td><\/td>14,438 <\/td><\/td><\/td>79,243 <\/td><\/td><\/td>13.42 <\/td>%<\/td><\/td>10,632 <\/td><\/td><\/td>69,365 <\/td><\/td><\/td>12.57 <\/td>%<\/td><\/td>8,717 <\/td><\/td><\/tr>
Private student loans<\/td>10,382 <\/td><\/td><\/td>9.95 <\/td>%<\/td><\/td>1,033 <\/td><\/td><\/td>10,240 <\/td><\/td><\/td>8.11 <\/td>%<\/td><\/td>831 <\/td><\/td><\/td>10,057 <\/td><\/td><\/td>7.38 <\/td>%<\/td><\/td>742 <\/td><\/td><\/tr>
Personal loans<\/td>9,011 <\/td><\/td><\/td>12.83 <\/td>%<\/td><\/td>1,156 <\/td><\/td><\/td>7,295 <\/td><\/td><\/td>11.95 <\/td>%<\/td><\/td>872 <\/td><\/td><\/td>6,945 <\/td><\/td><\/td>12.64 <\/td>%<\/td><\/td>878 <\/td><\/td><\/tr>
Other<\/td>4,713 <\/td><\/td><\/td>6.92 <\/td>%<\/td><\/td>326 <\/td><\/td><\/td>2,895 <\/td><\/td><\/td>5.77 <\/td>%<\/td><\/td>167 <\/td><\/td><\/td>2,054 <\/td><\/td><\/td>5.57 <\/td>%<\/td><\/td>114 <\/td><\/td><\/tr>
Total loan receivables<\/td>118,311 <\/td><\/td><\/td>14.33 <\/td>%<\/td><\/td>16,953 <\/td><\/td><\/td>99,673 <\/td><\/td><\/td>12.54 <\/td>%<\/td><\/td>12,502 <\/td><\/td><\/td>88,421 <\/td><\/td><\/td>11.82 <\/td>%<\/td><\/td>10,451 <\/td><\/td><\/tr>
Total interest-earning assets<\/td>139,691 <\/td><\/td><\/td>12.77 <\/td>%<\/td><\/td>17,845 <\/td><\/td><\/td>116,455 <\/td><\/td><\/td>11.05 <\/td>%<\/td><\/td>12,864 <\/td><\/td><\/td>112,241 <\/td><\/td><\/td>9.49 <\/td>%<\/td><\/td>10,651 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(7,936)<\/td><\/td><\/td><\/td><\/td><\/td><\/td>(6,820)<\/td><\/td><\/td><\/td><\/td><\/td><\/td>(7,351)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>6,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>6,070 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>6,237 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total assets(4)<\/td>$<\/td>138,693 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>115,705 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>111,127 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-bearing liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposits<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Time deposits<\/td>$<\/td>38,220 <\/td><\/td><\/td>3.89 <\/td>%<\/td><\/td>$<\/td>1,485 <\/td><\/td><\/td>$<\/td>23,988 <\/td><\/td><\/td>2.02 <\/td>%<\/td><\/td>$<\/td>484 <\/td><\/td><\/td>$<\/td>23,928 <\/td><\/td><\/td>1.84 <\/td>%<\/td><\/td>$<\/td>440 <\/td><\/td><\/tr>
Money market deposits<\/td>8,143 <\/td><\/td><\/td>4.16 <\/td>%<\/td><\/td>339 <\/td><\/td><\/td>8,453 <\/td><\/td><\/td>1.67 <\/td>%<\/td><\/td>141 <\/td><\/td><\/td>8,142 <\/td><\/td><\/td>0.53 <\/td>%<\/td><\/td>43 <\/td><\/td><\/tr>
Other interest-bearing savings deposits<\/td>51,366 <\/td><\/td><\/td>4.01 <\/td>%<\/td><\/td>2,062 <\/td><\/td><\/td>44,276 <\/td><\/td><\/td>1.43 <\/td>%<\/td><\/td>632 <\/td><\/td><\/td>40,912 <\/td><\/td><\/td>0.43 <\/td>%<\/td><\/td>178 <\/td><\/td><\/tr>
Total interest-bearing deposits<\/td>97,729 <\/td><\/td><\/td>3.98 <\/td>%<\/td><\/td>3,886 <\/td><\/td><\/td>76,717 <\/td><\/td><\/td>1.64 <\/td>%<\/td><\/td>1,257 <\/td><\/td><\/td>72,982 <\/td><\/td><\/td>0.91 <\/td>%<\/td><\/td>661 <\/td><\/td><\/tr>
Borrowings<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Short-term borrowings<\/td>44 <\/td><\/td><\/td>10.21 <\/td>%<\/td><\/td>5 <\/td><\/td><\/td>225 <\/td><\/td><\/td>0.70 <\/td>%<\/td><\/td>2 <\/td><\/td><\/td>72 <\/td><\/td><\/td>0.18 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Securitized borrowings(5)(6)(7)<\/td>10,528 <\/td><\/td><\/td>4.30 <\/td>%<\/td><\/td>453 <\/td><\/td><\/td>9,060 <\/td><\/td><\/td>2.41 <\/td>%<\/td><\/td>219 <\/td><\/td><\/td>9,627 <\/td><\/td><\/td>1.06 <\/td>%<\/td><\/td>102 <\/td><\/td><\/tr>
Other long-term borrowings(6)(7)(8)<\/td>9,090 <\/td><\/td><\/td>4.43 <\/td>%<\/td><\/td>402 <\/td><\/td><\/td>9,334 <\/td><\/td><\/td>4.15 <\/td>%<\/td><\/td>387 <\/td><\/td><\/td>9,888 <\/td><\/td><\/td>3.75 <\/td>%<\/td><\/td>371 <\/td><\/td><\/tr>
Total borrowings<\/td>19,662 <\/td><\/td><\/td>4.37 <\/td>%<\/td><\/td>860 <\/td><\/td><\/td>18,619 <\/td><\/td><\/td>3.26 <\/td>%<\/td><\/td>608 <\/td><\/td><\/td>19,587 <\/td><\/td><\/td>2.42 <\/td>%<\/td><\/td>473 <\/td><\/td><\/tr>
Total interest-bearing liabilities<\/td>117,391 <\/td><\/td><\/td>4.04 <\/td>%<\/td><\/td>4,746 <\/td><\/td><\/td>95,336 <\/td><\/td><\/td>1.96 <\/td>%<\/td><\/td>1,865 <\/td><\/td><\/td>92,569 <\/td><\/td><\/td>1.23 <\/td>%<\/td><\/td>1,134 <\/td><\/td><\/tr>
Other liabilities and stockholders' equity(9)<\/td>21,302 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>20,369 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>18,558 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>138,693 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>115,705 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>111,127 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td><\/td><\/td><\/td><\/td>$<\/td>13,099 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>10,999 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>9,517 <\/td><\/td><\/tr>
Net interest margin(10)<\/td><\/td><\/td>11.07 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>11.04 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>10.76 <\/td>%<\/td><\/td><\/td><\/tr>
Net yield on interest-earning assets(11)<\/td><\/td><\/td>9.38 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>9.45 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>8.48 <\/td>%<\/td><\/td><\/td><\/tr>
Interest rate spread(12)<\/td><\/td><\/td>8.73 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>9.09 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>8.26 <\/td>%<\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Average balances of loan receivables and yield calculations include non-accruing loans. If the non-accruing loan balances were excluded, there would not be a material impact on the amounts reported above. \n(2)Interest income on credit card loans includes $468 million, $365 million and $295 million of amortization of balance transfer fees for the years ended December 31, 2023, 2022 and 2021, respectively.\n(3)Includes the impact of interest rate swap agreements used to change a portion of floating-rate assets to fixed-rate assets for the years ended December 31, 2023, 2022 and 2021.\n(4)The return on average assets, based on net income, was 2.12%, 3.80% and 4.90% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(5)Includes the impact of one terminated derivative formerly designated as a cash flow hedge for the years ended December 31, 2023, 2022 and 2021.\n(6)Includes the impact of interest rate swap agreements used to change a portion of fixed-rate funding to floating-rate funding for the years ended December 31, 2023, 2022 and 2021.\n(7)Includes the impact of terminated derivatives formerly designated as fair value hedges for the years ended December 31, 2023, 2022 and 2021.\n(8)Includes the impact of interest rate swap agreements used to change a portion of floating-rate funding to fixed-rate funding for the years ended December 31, 2023 and 2022.\n(9)The return on average stockholders' equity, based on net income, was 21.00%, 32.00% and 43.12% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(10)Net interest margin represents net interest income as a percentage of average total loan receivables.\n(11)Net yield on interest-earning assets represents net interest income as a percentage of average total interest-earning assets.\n(12)Interest rate spread represents the difference between the rate on total interest-earning assets and the rate on total interest-bearing liabilities.\n-62-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 65: The following tables provide changes in our allowance for credit losses (dollars in millions):\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2023<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2022<\/td>$<\/td>5,883 <\/td><\/td><\/td>$<\/td>839 <\/td><\/td><\/td>$<\/td>595 <\/td><\/td><\/td>$<\/td>57 <\/td><\/td><\/td>$<\/td>7,374 <\/td><\/td><\/tr>
Cumulative effect of ASU No. 2022-02 adoption(1)<\/td>(66)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2)<\/td><\/td><\/td>- <\/td><\/td><\/td>(68)<\/td><\/td><\/tr>
Balance at January 1, 2023<\/td>5,817 <\/td><\/td><\/td>839 <\/td><\/td><\/td>593 <\/td><\/td><\/td>57 <\/td><\/td><\/td>7,306 <\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>5,476 <\/td><\/td><\/td>152 <\/td><\/td><\/td>363 <\/td><\/td><\/td>28 <\/td><\/td><\/td>6,019 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(4,481)<\/td><\/td><\/td>(155)<\/td><\/td><\/td>(290)<\/td><\/td><\/td>(1)<\/td><\/td><\/td>(4,927)<\/td><\/td><\/tr>
Recoveries<\/td>807 <\/td><\/td><\/td>22 <\/td><\/td><\/td>56 <\/td><\/td><\/td>- <\/td><\/td><\/td>885 <\/td><\/td><\/tr>
Net charge-offs<\/td>(3,674)<\/td><\/td><\/td>(133)<\/td><\/td><\/td>(234)<\/td><\/td><\/td>(1)<\/td><\/td><\/td>(4,042)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2023<\/td>$<\/td>7,619 <\/td><\/td><\/td>$<\/td>858 <\/td><\/td><\/td>$<\/td>722 <\/td><\/td><\/td>$<\/td>84 <\/td><\/td><\/td>$<\/td>9,283 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2022<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2021<\/td>$<\/td>5,273 <\/td><\/td><\/td>$<\/td>843 <\/td><\/td><\/td>$<\/td>662 <\/td><\/td><\/td>$<\/td>44 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>2,233 <\/td><\/td><\/td>99 <\/td><\/td><\/td>24 <\/td><\/td><\/td>13 <\/td><\/td><\/td>2,369 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(2,417)<\/td><\/td><\/td>(126)<\/td><\/td><\/td>(159)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2,702)<\/td><\/td><\/tr>
Recoveries<\/td>794 <\/td><\/td><\/td>23 <\/td><\/td><\/td>68 <\/td><\/td><\/td>- <\/td><\/td><\/td>885 <\/td><\/td><\/tr>
Net charge-offs<\/td>(1,623)<\/td><\/td><\/td>(103)<\/td><\/td><\/td>(91)<\/td><\/td><\/td>- <\/td><\/td><\/td>(1,817)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2022<\/td>$<\/td>5,883 <\/td><\/td><\/td>$<\/td>839 <\/td><\/td><\/td>$<\/td>595 <\/td><\/td><\/td>$<\/td>57 <\/td><\/td><\/td>$<\/td>7,374 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2021<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2020<\/td>$<\/td>6,491 <\/td><\/td><\/td>$<\/td>840 <\/td><\/td><\/td>$<\/td>857 <\/td><\/td><\/td>$<\/td>38 <\/td><\/td><\/td>$<\/td>8,226 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>229 <\/td><\/td><\/td>67 <\/td><\/td><\/td>(75)<\/td><\/td><\/td>6 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(2,255)<\/td><\/td><\/td>(89)<\/td><\/td><\/td>(190)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2,534)<\/td><\/td><\/tr>
Recoveries<\/td>808 <\/td><\/td><\/td>25 <\/td><\/td><\/td>70 <\/td><\/td><\/td>- <\/td><\/td><\/td>903 <\/td><\/td><\/tr>
Net charge-offs<\/td>(1,447)<\/td><\/td><\/td>(64)<\/td><\/td><\/td>(120)<\/td><\/td><\/td>- <\/td><\/td><\/td>(1,631)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2021<\/td>$<\/td>5,273 <\/td><\/td><\/td>$<\/td>843 <\/td><\/td><\/td>$<\/td>662 <\/td><\/td><\/td>$<\/td>44 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\n\n(1)Represents the adjustment to the allowance for credit losses as a result of the adoption of Accounting Standards Update (\"ASU\") No. 2022-02 on January 1, 2023.\n\n(2)Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in our consolidated statements of financial condition.\n-65-\n\n\n\n\n","context_html_without_headers":"\nAverage Balance Sheet Analysis\n\n\n(dollars in millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
<\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/td>Average Balance<\/td><\/td>Yield\/Rate<\/td><\/td>Interest<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-earning assets<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>8,192 <\/td><\/td><\/td>5.17 <\/td>%<\/td><\/td>$<\/td>423 <\/td><\/td><\/td>$<\/td>9,279 <\/td><\/td><\/td>1.89 <\/td>%<\/td><\/td>$<\/td>175 <\/td><\/td><\/td>$<\/td>14,236 <\/td><\/td><\/td>0.13 <\/td>%<\/td><\/td>$<\/td>18 <\/td><\/td><\/tr>
Restricted cash<\/td>250 <\/td><\/td><\/td>7.80 <\/td>%<\/td><\/td>20 <\/td><\/td><\/td>515 <\/td><\/td><\/td>1.48 <\/td>%<\/td><\/td>8 <\/td><\/td><\/td>695 <\/td><\/td><\/td>0.03 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Other short-term investments<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>0.12 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Investment securities<\/td>12,938 <\/td><\/td><\/td>3.47 <\/td>%<\/td><\/td>449 <\/td><\/td><\/td>6,988 <\/td><\/td><\/td>2.57 <\/td>%<\/td><\/td>179 <\/td><\/td><\/td>8,713 <\/td><\/td><\/td>2.09 <\/td>%<\/td><\/td>182 <\/td><\/td><\/tr>
Loan receivables(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans(2)(3)<\/td>94,205 <\/td><\/td><\/td>15.33 <\/td>%<\/td><\/td>14,438 <\/td><\/td><\/td>79,243 <\/td><\/td><\/td>13.42 <\/td>%<\/td><\/td>10,632 <\/td><\/td><\/td>69,365 <\/td><\/td><\/td>12.57 <\/td>%<\/td><\/td>8,717 <\/td><\/td><\/tr>
Private student loans<\/td>10,382 <\/td><\/td><\/td>9.95 <\/td>%<\/td><\/td>1,033 <\/td><\/td><\/td>10,240 <\/td><\/td><\/td>8.11 <\/td>%<\/td><\/td>831 <\/td><\/td><\/td>10,057 <\/td><\/td><\/td>7.38 <\/td>%<\/td><\/td>742 <\/td><\/td><\/tr>
Personal loans<\/td>9,011 <\/td><\/td><\/td>12.83 <\/td>%<\/td><\/td>1,156 <\/td><\/td><\/td>7,295 <\/td><\/td><\/td>11.95 <\/td>%<\/td><\/td>872 <\/td><\/td><\/td>6,945 <\/td><\/td><\/td>12.64 <\/td>%<\/td><\/td>878 <\/td><\/td><\/tr>
Other<\/td>4,713 <\/td><\/td><\/td>6.92 <\/td>%<\/td><\/td>326 <\/td><\/td><\/td>2,895 <\/td><\/td><\/td>5.77 <\/td>%<\/td><\/td>167 <\/td><\/td><\/td>2,054 <\/td><\/td><\/td>5.57 <\/td>%<\/td><\/td>114 <\/td><\/td><\/tr>
Total loan receivables<\/td>118,311 <\/td><\/td><\/td>14.33 <\/td>%<\/td><\/td>16,953 <\/td><\/td><\/td>99,673 <\/td><\/td><\/td>12.54 <\/td>%<\/td><\/td>12,502 <\/td><\/td><\/td>88,421 <\/td><\/td><\/td>11.82 <\/td>%<\/td><\/td>10,451 <\/td><\/td><\/tr>
Total interest-earning assets<\/td>139,691 <\/td><\/td><\/td>12.77 <\/td>%<\/td><\/td>17,845 <\/td><\/td><\/td>116,455 <\/td><\/td><\/td>11.05 <\/td>%<\/td><\/td>12,864 <\/td><\/td><\/td>112,241 <\/td><\/td><\/td>9.49 <\/td>%<\/td><\/td>10,651 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(7,936)<\/td><\/td><\/td><\/td><\/td><\/td><\/td>(6,820)<\/td><\/td><\/td><\/td><\/td><\/td><\/td>(7,351)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>6,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>6,070 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>6,237 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total assets(4)<\/td>$<\/td>138,693 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>115,705 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>111,127 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-bearing liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposits<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Time deposits<\/td>$<\/td>38,220 <\/td><\/td><\/td>3.89 <\/td>%<\/td><\/td>$<\/td>1,485 <\/td><\/td><\/td>$<\/td>23,988 <\/td><\/td><\/td>2.02 <\/td>%<\/td><\/td>$<\/td>484 <\/td><\/td><\/td>$<\/td>23,928 <\/td><\/td><\/td>1.84 <\/td>%<\/td><\/td>$<\/td>440 <\/td><\/td><\/tr>
Money market deposits<\/td>8,143 <\/td><\/td><\/td>4.16 <\/td>%<\/td><\/td>339 <\/td><\/td><\/td>8,453 <\/td><\/td><\/td>1.67 <\/td>%<\/td><\/td>141 <\/td><\/td><\/td>8,142 <\/td><\/td><\/td>0.53 <\/td>%<\/td><\/td>43 <\/td><\/td><\/tr>
Other interest-bearing savings deposits<\/td>51,366 <\/td><\/td><\/td>4.01 <\/td>%<\/td><\/td>2,062 <\/td><\/td><\/td>44,276 <\/td><\/td><\/td>1.43 <\/td>%<\/td><\/td>632 <\/td><\/td><\/td>40,912 <\/td><\/td><\/td>0.43 <\/td>%<\/td><\/td>178 <\/td><\/td><\/tr>
Total interest-bearing deposits<\/td>97,729 <\/td><\/td><\/td>3.98 <\/td>%<\/td><\/td>3,886 <\/td><\/td><\/td>76,717 <\/td><\/td><\/td>1.64 <\/td>%<\/td><\/td>1,257 <\/td><\/td><\/td>72,982 <\/td><\/td><\/td>0.91 <\/td>%<\/td><\/td>661 <\/td><\/td><\/tr>
Borrowings<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Short-term borrowings<\/td>44 <\/td><\/td><\/td>10.21 <\/td>%<\/td><\/td>5 <\/td><\/td><\/td>225 <\/td><\/td><\/td>0.70 <\/td>%<\/td><\/td>2 <\/td><\/td><\/td>72 <\/td><\/td><\/td>0.18 <\/td>%<\/td><\/td>NM<\/td><\/tr>
Securitized borrowings(5)(6)(7)<\/td>10,528 <\/td><\/td><\/td>4.30 <\/td>%<\/td><\/td>453 <\/td><\/td><\/td>9,060 <\/td><\/td><\/td>2.41 <\/td>%<\/td><\/td>219 <\/td><\/td><\/td>9,627 <\/td><\/td><\/td>1.06 <\/td>%<\/td><\/td>102 <\/td><\/td><\/tr>
Other long-term borrowings(6)(7)(8)<\/td>9,090 <\/td><\/td><\/td>4.43 <\/td>%<\/td><\/td>402 <\/td><\/td><\/td>9,334 <\/td><\/td><\/td>4.15 <\/td>%<\/td><\/td>387 <\/td><\/td><\/td>9,888 <\/td><\/td><\/td>3.75 <\/td>%<\/td><\/td>371 <\/td><\/td><\/tr>
Total borrowings<\/td>19,662 <\/td><\/td><\/td>4.37 <\/td>%<\/td><\/td>860 <\/td><\/td><\/td>18,619 <\/td><\/td><\/td>3.26 <\/td>%<\/td><\/td>608 <\/td><\/td><\/td>19,587 <\/td><\/td><\/td>2.42 <\/td>%<\/td><\/td>473 <\/td><\/td><\/tr>
Total interest-bearing liabilities<\/td>117,391 <\/td><\/td><\/td>4.04 <\/td>%<\/td><\/td>4,746 <\/td><\/td><\/td>95,336 <\/td><\/td><\/td>1.96 <\/td>%<\/td><\/td>1,865 <\/td><\/td><\/td>92,569 <\/td><\/td><\/td>1.23 <\/td>%<\/td><\/td>1,134 <\/td><\/td><\/tr>
Other liabilities and stockholders' equity(9)<\/td>21,302 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>20,369 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>18,558 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>138,693 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>115,705 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>111,127 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td><\/td><\/td><\/td><\/td>$<\/td>13,099 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>10,999 <\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>9,517 <\/td><\/td><\/tr>
Net interest margin(10)<\/td><\/td><\/td>11.07 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>11.04 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>10.76 <\/td>%<\/td><\/td><\/td><\/tr>
Net yield on interest-earning assets(11)<\/td><\/td><\/td>9.38 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>9.45 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>8.48 <\/td>%<\/td><\/td><\/td><\/tr>
Interest rate spread(12)<\/td><\/td><\/td>8.73 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>9.09 <\/td>%<\/td><\/td><\/td><\/td><\/td><\/td>8.26 <\/td>%<\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Average balances of loan receivables and yield calculations include non-accruing loans. If the non-accruing loan balances were excluded, there would not be a material impact on the amounts reported above. \n(2)Interest income on credit card loans includes $468 million, $365 million and $295 million of amortization of balance transfer fees for the years ended December 31, 2023, 2022 and 2021, respectively.\n(3)Includes the impact of interest rate swap agreements used to change a portion of floating-rate assets to fixed-rate assets for the years ended December 31, 2023, 2022 and 2021.\n(4)The return on average assets, based on net income, was 2.12%, 3.80% and 4.90% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(5)Includes the impact of one terminated derivative formerly designated as a cash flow hedge for the years ended December 31, 2023, 2022 and 2021.\n(6)Includes the impact of interest rate swap agreements used to change a portion of fixed-rate funding to floating-rate funding for the years ended December 31, 2023, 2022 and 2021.\n(7)Includes the impact of terminated derivatives formerly designated as fair value hedges for the years ended December 31, 2023, 2022 and 2021.\n(8)Includes the impact of interest rate swap agreements used to change a portion of floating-rate funding to fixed-rate funding for the years ended December 31, 2023 and 2022.\n(9)The return on average stockholders' equity, based on net income, was 21.00%, 32.00% and 43.12% for the years ended December 31, 2023, 2022 and 2021, respectively.\n(10)Net interest margin represents net interest income as a percentage of average total loan receivables.\n(11)Net yield on interest-earning assets represents net interest income as a percentage of average total interest-earning assets.\n(12)Interest rate spread represents the difference between the rate on total interest-earning assets and the rate on total interest-bearing liabilities.\n-62-\n\n\n\n\n, The following tables provide changes in our allowance for credit losses (dollars in millions):\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2023<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2022<\/td>$<\/td>5,883 <\/td><\/td><\/td>$<\/td>839 <\/td><\/td><\/td>$<\/td>595 <\/td><\/td><\/td>$<\/td>57 <\/td><\/td><\/td>$<\/td>7,374 <\/td><\/td><\/tr>
Cumulative effect of ASU No. 2022-02 adoption(1)<\/td>(66)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2)<\/td><\/td><\/td>- <\/td><\/td><\/td>(68)<\/td><\/td><\/tr>
Balance at January 1, 2023<\/td>5,817 <\/td><\/td><\/td>839 <\/td><\/td><\/td>593 <\/td><\/td><\/td>57 <\/td><\/td><\/td>7,306 <\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>5,476 <\/td><\/td><\/td>152 <\/td><\/td><\/td>363 <\/td><\/td><\/td>28 <\/td><\/td><\/td>6,019 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(4,481)<\/td><\/td><\/td>(155)<\/td><\/td><\/td>(290)<\/td><\/td><\/td>(1)<\/td><\/td><\/td>(4,927)<\/td><\/td><\/tr>
Recoveries<\/td>807 <\/td><\/td><\/td>22 <\/td><\/td><\/td>56 <\/td><\/td><\/td>- <\/td><\/td><\/td>885 <\/td><\/td><\/tr>
Net charge-offs<\/td>(3,674)<\/td><\/td><\/td>(133)<\/td><\/td><\/td>(234)<\/td><\/td><\/td>(1)<\/td><\/td><\/td>(4,042)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2023<\/td>$<\/td>7,619 <\/td><\/td><\/td>$<\/td>858 <\/td><\/td><\/td>$<\/td>722 <\/td><\/td><\/td>$<\/td>84 <\/td><\/td><\/td>$<\/td>9,283 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2022<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2021<\/td>$<\/td>5,273 <\/td><\/td><\/td>$<\/td>843 <\/td><\/td><\/td>$<\/td>662 <\/td><\/td><\/td>$<\/td>44 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>2,233 <\/td><\/td><\/td>99 <\/td><\/td><\/td>24 <\/td><\/td><\/td>13 <\/td><\/td><\/td>2,369 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(2,417)<\/td><\/td><\/td>(126)<\/td><\/td><\/td>(159)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2,702)<\/td><\/td><\/tr>
Recoveries<\/td>794 <\/td><\/td><\/td>23 <\/td><\/td><\/td>68 <\/td><\/td><\/td>- <\/td><\/td><\/td>885 <\/td><\/td><\/tr>
Net charge-offs<\/td>(1,623)<\/td><\/td><\/td>(103)<\/td><\/td><\/td>(91)<\/td><\/td><\/td>- <\/td><\/td><\/td>(1,817)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2022<\/td>$<\/td>5,883 <\/td><\/td><\/td>$<\/td>839 <\/td><\/td><\/td>$<\/td>595 <\/td><\/td><\/td>$<\/td>57 <\/td><\/td><\/td>$<\/td>7,374 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2021<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2020<\/td>$<\/td>6,491 <\/td><\/td><\/td>$<\/td>840 <\/td><\/td><\/td>$<\/td>857 <\/td><\/td><\/td>$<\/td>38 <\/td><\/td><\/td>$<\/td>8,226 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>229 <\/td><\/td><\/td>67 <\/td><\/td><\/td>(75)<\/td><\/td><\/td>6 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(2,255)<\/td><\/td><\/td>(89)<\/td><\/td><\/td>(190)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2,534)<\/td><\/td><\/tr>
Recoveries<\/td>808 <\/td><\/td><\/td>25 <\/td><\/td><\/td>70 <\/td><\/td><\/td>- <\/td><\/td><\/td>903 <\/td><\/td><\/tr>
Net charge-offs<\/td>(1,447)<\/td><\/td><\/td>(64)<\/td><\/td><\/td>(120)<\/td><\/td><\/td>- <\/td><\/td><\/td>(1,631)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2021<\/td>$<\/td>5,273 <\/td><\/td><\/td>$<\/td>843 <\/td><\/td><\/td>$<\/td>662 <\/td><\/td><\/td>$<\/td>44 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\n\n(1)Represents the adjustment to the allowance for credit losses as a result of the adoption of Accounting Standards Update (\"ASU\") No. 2022-02 on January 1, 2023.\n\n(2)Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in our consolidated statements of financial condition.\n-65-\n\n\n\n\n"} +{"QID":"q_Ra019","Question":"What is capital-to-total asset ratio of Discover Financial Services for years 2023 and 2022?","ground_truth_answer":"Total Capital Ratio measures the proportion of a company's total capital relative to its total assets. It provides insight into how much of the company's assets are financed through its capital base, including both debt and equity.\n\nCalculation:\nTotal Capital = Total Debt + Shareholders' Equity\n\nFor 2023:\nTotal Debt: $750 million (Short-Term Borrowings) + $20,581 million (Long-Term Borrowings) = $21,331 million\nShareholders' Equity: $14,828 million\nTotal Capital: $21,331 million + $14,828 million = $36,159 million\nTotal Assets: $151,522 million\nTotal Capital Ratio: 36,159\/151,522 = 23.8%\nFor 2022:\n\nTotal Debt: $0 (Short-Term Borrowings) + $20,108 million (Long-Term Borrowings) = $20,108 million\nShareholders' Equity: $14,344 million\nTotal Capital: $20,108 million + $14,344 million = $34,452 million\nTotal Assets: $131,706 million\nTotal Capital Ratio: 34,452\/131,706= 26.1%\nSummary:\n2023 Total Capital Ratio: 23.8%\n2022 Total Capital Ratio: 26.1%\nAnalysis:\nThe Total Capital Ratio decreased from 26.1% in 2022 to 23.8% in 2023. This decline suggests that Discover Financial Services has become slightly more reliant on debt relative to its equity as its asset base has grown. The increase in total assets outpaced the growth in total capital, indicating a shift in the capital structure. This change may reflect adjustments in the company\u2019s financing strategy or operational expansion, potentially impacting its financial stability and risk profile.","question_type":"Ratio","page_number":85,"accession_number":"0001393612-24-000010","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:---------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | Assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 11,685 | | | $ | 8,856 |\n| 5 | Restricted cash | 43 | | | 41 | | |\n| 7 | Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively) | 13,655 | | | 12,208 | | |\n| 8 | Loan receivables | | | | | | |\n| 9 | Loan receivables | 128,409 | | | 112,120 | | |\n| 10 | Allowance for credit losses | (9,283) | | | (7,374) | | |\n| 11 | Net loan receivables | 119,126 | | | 104,746 | | |\n| 12 | Premises and equipment, net | 1,091 | | | 1,003 | | |\n| 13 | Goodwill | 255 | | | 255 | | |\n| 15 | Other assets | 5,667 | | | 4,597 | | |\n| 16 | Total assets | $ | 151,522 | | | $ | 131,706 |\n| 17 | Liabilities and Stockholders' Equity | | | | | | |\n| 18 | Liabilities | | | | | | |\n| 19 | Deposits | | | | | | |\n| 20 | Interest-bearing deposit accounts | $ | 107,493 | | | $ | 90,151 |\n| 21 | Non-interest-bearing deposit accounts | 1,438 | | | 1,485 | | |\n| 22 | Total deposits | 108,931 | | | 91,636 | | |\n| 23 | Short-term borrowings | 750 | | | - | | |\n| 24 | Long-term borrowings | 20,581 | | | 20,108 | | |\n| 25 | Accrued expenses and other liabilities | 6,432 | | | 5,618 | | |\n| 26 | Total liabilities | 136,694 | | | 117,362 | | |\n| 27 | Commitments, contingencies and guarantees (Notes 15, 18 and 19) | | | | | | |\n| 28 | Stockholders' Equity | | | | | | |\n| 29 | Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively | 6 | | | 6 | | |\n| 30 | Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively | 1,056 | | | 1,056 | | |\n| 31 | Additional paid-in capital | 4,553 | | | 4,468 | | |\n| 32 | Retained earnings | 30,448 | | | 28,207 | | |\n| 33 | Accumulated other comprehensive loss | (225) | | | (339) | | |\n| 34 | Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively | (21,010) | | | (19,054) | | |\n| 35 | Total stockholders' equity | 14,828 | | | 14,344 | | |\n| 36 | Total liabilities and stockholders' equity | $ | 151,522 | | | $ | 131,706 |\nThe table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n| | | | | | | |\n|---:|:----------------------------------------------------------------------|:-------------|:--------|:-----|:---|:--------|\n| 1 | | December 31, | | | | |\n| 2 | | 2023 | | 2022 | | |\n| 3 | Assets | | | | | |\n| 4 | Restricted cash | $ | 43 | | $ | 41 |\n| 5 | Loan receivables | $ | 30,590 | | $ | 25,937 |\n| 6 | Allowance for credit losses allocated to securitized loan receivables | $ | (1,347) | | $ | (1,152) |\n| 7 | Other assets | $ | 3 | | $ | 3 |\n| 8 | Liabilities | | | | | |\n| 9 | Short- and long-term borrowings | $ | 11,743 | | $ | 10,259 |\n| 10 | Accrued expenses and other liabilities | $ | 19 | | $ | 14 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n","context_markdown_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:---------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | Assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 11,685 | | | $ | 8,856 |\n| 5 | Restricted cash | 43 | | | 41 | | |\n| 7 | Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively) | 13,655 | | | 12,208 | | |\n| 8 | Loan receivables | | | | | | |\n| 9 | Loan receivables | 128,409 | | | 112,120 | | |\n| 10 | Allowance for credit losses | (9,283) | | | (7,374) | | |\n| 11 | Net loan receivables | 119,126 | | | 104,746 | | |\n| 12 | Premises and equipment, net | 1,091 | | | 1,003 | | |\n| 13 | Goodwill | 255 | | | 255 | | |\n| 15 | Other assets | 5,667 | | | 4,597 | | |\n| 16 | Total assets | $ | 151,522 | | | $ | 131,706 |\n| 17 | Liabilities and Stockholders' Equity | | | | | | |\n| 18 | Liabilities | | | | | | |\n| 19 | Deposits | | | | | | |\n| 20 | Interest-bearing deposit accounts | $ | 107,493 | | | $ | 90,151 |\n| 21 | Non-interest-bearing deposit accounts | 1,438 | | | 1,485 | | |\n| 22 | Total deposits | 108,931 | | | 91,636 | | |\n| 23 | Short-term borrowings | 750 | | | - | | |\n| 24 | Long-term borrowings | 20,581 | | | 20,108 | | |\n| 25 | Accrued expenses and other liabilities | 6,432 | | | 5,618 | | |\n| 26 | Total liabilities | 136,694 | | | 117,362 | | |\n| 27 | Commitments, contingencies and guarantees (Notes 15, 18 and 19) | | | | | | |\n| 28 | Stockholders' Equity | | | | | | |\n| 29 | Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively | 6 | | | 6 | | |\n| 30 | Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively | 1,056 | | | 1,056 | | |\n| 31 | Additional paid-in capital | 4,553 | | | 4,468 | | |\n| 32 | Retained earnings | 30,448 | | | 28,207 | | |\n| 33 | Accumulated other comprehensive loss | (225) | | | (339) | | |\n| 34 | Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively | (21,010) | | | (19,054) | | |\n| 35 | Total stockholders' equity | 14,828 | | | 14,344 | | |\n| 36 | Total liabilities and stockholders' equity | $ | 151,522 | | | $ | 131,706 |\nThe table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n| | | | | | | |\n|---:|:----------------------------------------------------------------------|:-------------|:--------|:-----|:---|:--------|\n| 1 | | December 31, | | | | |\n| 2 | | 2023 | | 2022 | | |\n| 3 | Assets | | | | | |\n| 4 | Restricted cash | $ | 43 | | $ | 41 |\n| 5 | Loan receivables | $ | 30,590 | | $ | 25,937 |\n| 6 | Allowance for credit losses allocated to securitized loan receivables | $ | (1,347) | | $ | (1,152) |\n| 7 | Other assets | $ | 3 | | $ | 3 |\n| 8 | Liabilities | | | | | |\n| 9 | Short- and long-term borrowings | $ | 11,743 | | $ | 10,259 |\n| 10 | Accrued expenses and other liabilities | $ | 19 | | $ | 14 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,685 <\/td><\/td><\/td>$<\/td>8,856 <\/td><\/td><\/tr>
Restricted cash<\/td>43 <\/td><\/td><\/td>41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively)<\/td>13,655 <\/td><\/td><\/td>12,208 <\/td><\/td><\/tr>
Loan receivables<\/td><\/td><\/td><\/td><\/tr>
Loan receivables<\/td>128,409 <\/td><\/td><\/td>112,120 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(9,283)<\/td><\/td><\/td>(7,374)<\/td><\/td><\/tr>
Net loan receivables<\/td>119,126 <\/td><\/td><\/td>104,746 <\/td><\/td><\/tr>
Premises and equipment, net<\/td>1,091 <\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Goodwill<\/td>255 <\/td><\/td><\/td>255 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>5,667 <\/td><\/td><\/td>4,597 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposit accounts<\/td>$<\/td>107,493 <\/td><\/td><\/td>$<\/td>90,151 <\/td><\/td><\/tr>
Non-interest-bearing deposit accounts<\/td>1,438 <\/td><\/td><\/td>1,485 <\/td><\/td><\/tr>
Total deposits<\/td>108,931 <\/td><\/td><\/td>91,636 <\/td><\/td><\/tr>
Short-term borrowings<\/td>750 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>20,581 <\/td><\/td><\/td>20,108 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>6,432 <\/td><\/td><\/td>5,618 <\/td><\/td><\/tr>
Total liabilities<\/td>136,694 <\/td><\/td><\/td>117,362 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees (Notes 15, 18 and 19)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively<\/td>6 <\/td><\/td><\/td>6 <\/td><\/td><\/tr>
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively<\/td>1,056 <\/td><\/td><\/td>1,056 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>4,553 <\/td><\/td><\/td>4,468 <\/td><\/td><\/tr>
Retained earnings<\/td>30,448 <\/td><\/td><\/td>28,207 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(225)<\/td><\/td><\/td>(339)<\/td><\/td><\/tr>
Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively<\/td>(21,010)<\/td><\/td><\/td>(19,054)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>14,828 <\/td><\/td><\/td>14,344 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>The table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Restricted cash<\/td>$<\/td>43 <\/td><\/td><\/td>$<\/td>41 <\/td><\/td><\/tr>
Loan receivables<\/td>$<\/td>30,590 <\/td><\/td><\/td>$<\/td>25,937 <\/td><\/td><\/tr>
Allowance for credit losses allocated to securitized loan receivables<\/td>$<\/td>(1,347)<\/td><\/td><\/td>$<\/td>(1,152)<\/td><\/td><\/tr>
Other assets<\/td>$<\/td>3 <\/td><\/td><\/td>$<\/td>3 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Short- and long-term borrowings<\/td>$<\/td>11,743 <\/td><\/td><\/td>$<\/td>10,259 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>$<\/td>19 <\/td><\/td><\/td>$<\/td>14 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n","context_html_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,685 <\/td><\/td><\/td>$<\/td>8,856 <\/td><\/td><\/tr>
Restricted cash<\/td>43 <\/td><\/td><\/td>41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively)<\/td>13,655 <\/td><\/td><\/td>12,208 <\/td><\/td><\/tr>
Loan receivables<\/td><\/td><\/td><\/td><\/tr>
Loan receivables<\/td>128,409 <\/td><\/td><\/td>112,120 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(9,283)<\/td><\/td><\/td>(7,374)<\/td><\/td><\/tr>
Net loan receivables<\/td>119,126 <\/td><\/td><\/td>104,746 <\/td><\/td><\/tr>
Premises and equipment, net<\/td>1,091 <\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Goodwill<\/td>255 <\/td><\/td><\/td>255 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>5,667 <\/td><\/td><\/td>4,597 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposit accounts<\/td>$<\/td>107,493 <\/td><\/td><\/td>$<\/td>90,151 <\/td><\/td><\/tr>
Non-interest-bearing deposit accounts<\/td>1,438 <\/td><\/td><\/td>1,485 <\/td><\/td><\/tr>
Total deposits<\/td>108,931 <\/td><\/td><\/td>91,636 <\/td><\/td><\/tr>
Short-term borrowings<\/td>750 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>20,581 <\/td><\/td><\/td>20,108 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>6,432 <\/td><\/td><\/td>5,618 <\/td><\/td><\/tr>
Total liabilities<\/td>136,694 <\/td><\/td><\/td>117,362 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees (Notes 15, 18 and 19)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively<\/td>6 <\/td><\/td><\/td>6 <\/td><\/td><\/tr>
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively<\/td>1,056 <\/td><\/td><\/td>1,056 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>4,553 <\/td><\/td><\/td>4,468 <\/td><\/td><\/tr>
Retained earnings<\/td>30,448 <\/td><\/td><\/td>28,207 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(225)<\/td><\/td><\/td>(339)<\/td><\/td><\/tr>
Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively<\/td>(21,010)<\/td><\/td><\/td>(19,054)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>14,828 <\/td><\/td><\/td>14,344 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>The table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Restricted cash<\/td>$<\/td>43 <\/td><\/td><\/td>$<\/td>41 <\/td><\/td><\/tr>
Loan receivables<\/td>$<\/td>30,590 <\/td><\/td><\/td>$<\/td>25,937 <\/td><\/td><\/tr>
Allowance for credit losses allocated to securitized loan receivables<\/td>$<\/td>(1,347)<\/td><\/td><\/td>$<\/td>(1,152)<\/td><\/td><\/tr>
Other assets<\/td>$<\/td>3 <\/td><\/td><\/td>$<\/td>3 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Short- and long-term borrowings<\/td>$<\/td>11,743 <\/td><\/td><\/td>$<\/td>10,259 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>$<\/td>19 <\/td><\/td><\/td>$<\/td>14 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n"} +{"QID":"q_Ra020","Question":"How did Discover Financial Service\u2019s Gross Profit Margin for 2023 compare to the previous year?","ground_truth_answer":"Discover Financial Services: Gross Profit Margin Analysis\nGross Profit Margin Calculation for 2023\nGross Profit=Net Interest Income+Other Income\u2212Provision for Credit Losses Gross Profit=$13,099 million+$2,761 million\u2212$6,018 million=$9,842 million\nTotal Revenue=Net Interest Income+Other Income Total Revenue=$13,099 million+$2,761 million=$15,860 million\nGross Profit Margin=Gross Profit\/Total Revenue\u00d7100\nGross Profit Margin=9,842\/15,860\u00d7100 = 62.1%\n\nGross Profit Margin for 2022:\nGross Profit=$10,999 million+$2,294 million\u2212$2,359 million=$10,934 million\nTotal Revenue=$10,999 million+$2,294 million=$13,293 million\nGross Profit Margin=10,934\/13,293\u00d7100 = 82.2%","question_type":"Ratio","page_number":86,"accession_number":"0001393612-24-000010","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 86: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)| | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Interest income | | | | | | | | | |\n| 4 | Credit card loans | $ | 14,438 | | | $ | 10,632 | | $ | 8,717 |\n| 5 | Other loans | 2,515 | | | 1,870 | | | 1,734 | | |\n| 6 | Investment securities | 449 | | | 179 | | | 182 | | |\n| 7 | Other interest income | 443 | | | 183 | | | 18 | | |\n| 8 | Total interest income | 17,845 | | | 12,864 | | | 10,651 | | |\n| 9 | Interest expense | | | | | | | | | |\n| 10 | Deposits | 3,886 | | | 1,257 | | | 661 | | |\n| 11 | Short-term borrowings | 5 | | | 2 | | | - | | |\n| 12 | Long-term borrowings | 855 | | | 606 | | | 473 | | |\n| 13 | Total interest expense | 4,746 | | | 1,865 | | | 1,134 | | |\n| 14 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | |\n| 15 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | |\n| 16 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | |\n| 17 | Other income | | | | | | | | | |\n| 18 | Discount and interchange revenue, net | 1,447 | | | 1,380 | | | 1,188 | | |\n| 19 | Protection products revenue | 172 | | | 172 | | | 165 | | |\n| 20 | Loan fee income | 763 | | | 632 | | | 464 | | |\n| 21 | Transaction processing revenue | 303 | | | 249 | | | 227 | | |\n| 22 | (Losses) gains on equity investments | (9) | | | (214) | | | 424 | | |\n| 23 | Other income | 85 | | | 75 | | | 66 | | |\n| 24 | Total other income | 2,761 | | | 2,294 | | | 2,534 | | |\n| 25 | Other expense | | | | | | | | | |\n| 26 | Employee compensation and benefits | 2,434 | | | 2,139 | | | 1,986 | | |\n| 27 | Marketing and business development | 1,164 | | | 1,035 | | | 810 | | |\n| 28 | Information processing and communications | 608 | | | 513 | | | 500 | | |\n| 29 | Professional fees | 1,041 | | | 871 | | | 797 | | |\n| 30 | Premises and equipment | 89 | | | 118 | | | 92 | | |\n| 31 | Other expense | 680 | | | 540 | | | 620 | | |\n| 32 | Total other expense | 6,016 | | | 5,216 | | | 4,805 | | |\n| 33 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | |\n| 34 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | |\n| 35 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 36 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 37 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 38 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_markdown_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)| | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Interest income | | | | | | | | | |\n| 4 | Credit card loans | $ | 14,438 | | | $ | 10,632 | | $ | 8,717 |\n| 5 | Other loans | 2,515 | | | 1,870 | | | 1,734 | | |\n| 6 | Investment securities | 449 | | | 179 | | | 182 | | |\n| 7 | Other interest income | 443 | | | 183 | | | 18 | | |\n| 8 | Total interest income | 17,845 | | | 12,864 | | | 10,651 | | |\n| 9 | Interest expense | | | | | | | | | |\n| 10 | Deposits | 3,886 | | | 1,257 | | | 661 | | |\n| 11 | Short-term borrowings | 5 | | | 2 | | | - | | |\n| 12 | Long-term borrowings | 855 | | | 606 | | | 473 | | |\n| 13 | Total interest expense | 4,746 | | | 1,865 | | | 1,134 | | |\n| 14 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | |\n| 15 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | |\n| 16 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | |\n| 17 | Other income | | | | | | | | | |\n| 18 | Discount and interchange revenue, net | 1,447 | | | 1,380 | | | 1,188 | | |\n| 19 | Protection products revenue | 172 | | | 172 | | | 165 | | |\n| 20 | Loan fee income | 763 | | | 632 | | | 464 | | |\n| 21 | Transaction processing revenue | 303 | | | 249 | | | 227 | | |\n| 22 | (Losses) gains on equity investments | (9) | | | (214) | | | 424 | | |\n| 23 | Other income | 85 | | | 75 | | | 66 | | |\n| 24 | Total other income | 2,761 | | | 2,294 | | | 2,534 | | |\n| 25 | Other expense | | | | | | | | | |\n| 26 | Employee compensation and benefits | 2,434 | | | 2,139 | | | 1,986 | | |\n| 27 | Marketing and business development | 1,164 | | | 1,035 | | | 810 | | |\n| 28 | Information processing and communications | 608 | | | 513 | | | 500 | | |\n| 29 | Professional fees | 1,041 | | | 871 | | | 797 | | |\n| 30 | Premises and equipment | 89 | | | 118 | | | 92 | | |\n| 31 | Other expense | 680 | | | 540 | | | 620 | | |\n| 32 | Total other expense | 6,016 | | | 5,216 | | | 4,805 | | |\n| 33 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | |\n| 34 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | |\n| 35 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 36 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 37 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 38 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 86: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>14,438 <\/td><\/td><\/td>$<\/td>10,632 <\/td><\/td><\/td>$<\/td>8,717 <\/td><\/td><\/tr>
Other loans<\/td>2,515 <\/td><\/td><\/td>1,870 <\/td><\/td><\/td>1,734 <\/td><\/td><\/tr>
Investment securities<\/td>449 <\/td><\/td><\/td>179 <\/td><\/td><\/td>182 <\/td><\/td><\/tr>
Other interest income<\/td>443 <\/td><\/td><\/td>183 <\/td><\/td><\/td>18 <\/td><\/td><\/tr>
Total interest income<\/td>17,845 <\/td><\/td><\/td>12,864 <\/td><\/td><\/td>10,651 <\/td><\/td><\/tr>
Interest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td>3,886 <\/td><\/td><\/td>1,257 <\/td><\/td><\/td>661 <\/td><\/td><\/tr>
Short-term borrowings<\/td>5 <\/td><\/td><\/td>2 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>855 <\/td><\/td><\/td>606 <\/td><\/td><\/td>473 <\/td><\/td><\/tr>
Total interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/tr>
Other income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discount and interchange revenue, net<\/td>1,447 <\/td><\/td><\/td>1,380 <\/td><\/td><\/td>1,188 <\/td><\/td><\/tr>
Protection products revenue<\/td>172 <\/td><\/td><\/td>172 <\/td><\/td><\/td>165 <\/td><\/td><\/tr>
Loan fee income<\/td>763 <\/td><\/td><\/td>632 <\/td><\/td><\/td>464 <\/td><\/td><\/tr>
Transaction processing revenue<\/td>303 <\/td><\/td><\/td>249 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
(Losses) gains on equity investments<\/td>(9)<\/td><\/td><\/td>(214)<\/td><\/td><\/td>424 <\/td><\/td><\/tr>
Other income<\/td>85 <\/td><\/td><\/td>75 <\/td><\/td><\/td>66 <\/td><\/td><\/tr>
Total other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/tr>
Other expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>2,434 <\/td><\/td><\/td>2,139 <\/td><\/td><\/td>1,986 <\/td><\/td><\/tr>
Marketing and business development<\/td>1,164 <\/td><\/td><\/td>1,035 <\/td><\/td><\/td>810 <\/td><\/td><\/tr>
Information processing and communications<\/td>608 <\/td><\/td><\/td>513 <\/td><\/td><\/td>500 <\/td><\/td><\/tr>
Professional fees<\/td>1,041 <\/td><\/td><\/td>871 <\/td><\/td><\/td>797 <\/td><\/td><\/tr>
Premises and equipment<\/td>89 <\/td><\/td><\/td>118 <\/td><\/td><\/td>92 <\/td><\/td><\/tr>
Other expense<\/td>680 <\/td><\/td><\/td>540 <\/td><\/td><\/td>620 <\/td><\/td><\/tr>
Total other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_html_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>14,438 <\/td><\/td><\/td>$<\/td>10,632 <\/td><\/td><\/td>$<\/td>8,717 <\/td><\/td><\/tr>
Other loans<\/td>2,515 <\/td><\/td><\/td>1,870 <\/td><\/td><\/td>1,734 <\/td><\/td><\/tr>
Investment securities<\/td>449 <\/td><\/td><\/td>179 <\/td><\/td><\/td>182 <\/td><\/td><\/tr>
Other interest income<\/td>443 <\/td><\/td><\/td>183 <\/td><\/td><\/td>18 <\/td><\/td><\/tr>
Total interest income<\/td>17,845 <\/td><\/td><\/td>12,864 <\/td><\/td><\/td>10,651 <\/td><\/td><\/tr>
Interest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td>3,886 <\/td><\/td><\/td>1,257 <\/td><\/td><\/td>661 <\/td><\/td><\/tr>
Short-term borrowings<\/td>5 <\/td><\/td><\/td>2 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>855 <\/td><\/td><\/td>606 <\/td><\/td><\/td>473 <\/td><\/td><\/tr>
Total interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/tr>
Other income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discount and interchange revenue, net<\/td>1,447 <\/td><\/td><\/td>1,380 <\/td><\/td><\/td>1,188 <\/td><\/td><\/tr>
Protection products revenue<\/td>172 <\/td><\/td><\/td>172 <\/td><\/td><\/td>165 <\/td><\/td><\/tr>
Loan fee income<\/td>763 <\/td><\/td><\/td>632 <\/td><\/td><\/td>464 <\/td><\/td><\/tr>
Transaction processing revenue<\/td>303 <\/td><\/td><\/td>249 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
(Losses) gains on equity investments<\/td>(9)<\/td><\/td><\/td>(214)<\/td><\/td><\/td>424 <\/td><\/td><\/tr>
Other income<\/td>85 <\/td><\/td><\/td>75 <\/td><\/td><\/td>66 <\/td><\/td><\/tr>
Total other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/tr>
Other expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>2,434 <\/td><\/td><\/td>2,139 <\/td><\/td><\/td>1,986 <\/td><\/td><\/tr>
Marketing and business development<\/td>1,164 <\/td><\/td><\/td>1,035 <\/td><\/td><\/td>810 <\/td><\/td><\/tr>
Information processing and communications<\/td>608 <\/td><\/td><\/td>513 <\/td><\/td><\/td>500 <\/td><\/td><\/tr>
Professional fees<\/td>1,041 <\/td><\/td><\/td>871 <\/td><\/td><\/td>797 <\/td><\/td><\/tr>
Premises and equipment<\/td>89 <\/td><\/td><\/td>118 <\/td><\/td><\/td>92 <\/td><\/td><\/tr>
Other expense<\/td>680 <\/td><\/td><\/td>540 <\/td><\/td><\/td>620 <\/td><\/td><\/tr>
Total other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n"} +{"QID":"q_Ra021","Question":"What is DFS Debt-to-Equity Ratio for 2023?","ground_truth_answer":"Debt-to-Equity Ratio Calculation for 2023:\nTotal Liabilities (2023): $136,694 m illion\nTotal Stockholders' Equity (2023):$14,828 million\nDebt-to-Equity Ratio=Total Liabilities\/Total Stockholders\u2019 Equity = 136,694\/14,828 = 9.2\n","question_type":"Ratio","page_number":85,"accession_number":"0001393612-24-000010","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:---------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | Assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 11,685 | | | $ | 8,856 |\n| 5 | Restricted cash | 43 | | | 41 | | |\n| 7 | Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively) | 13,655 | | | 12,208 | | |\n| 8 | Loan receivables | | | | | | |\n| 9 | Loan receivables | 128,409 | | | 112,120 | | |\n| 10 | Allowance for credit losses | (9,283) | | | (7,374) | | |\n| 11 | Net loan receivables | 119,126 | | | 104,746 | | |\n| 12 | Premises and equipment, net | 1,091 | | | 1,003 | | |\n| 13 | Goodwill | 255 | | | 255 | | |\n| 15 | Other assets | 5,667 | | | 4,597 | | |\n| 16 | Total assets | $ | 151,522 | | | $ | 131,706 |\n| 17 | Liabilities and Stockholders' Equity | | | | | | |\n| 18 | Liabilities | | | | | | |\n| 19 | Deposits | | | | | | |\n| 20 | Interest-bearing deposit accounts | $ | 107,493 | | | $ | 90,151 |\n| 21 | Non-interest-bearing deposit accounts | 1,438 | | | 1,485 | | |\n| 22 | Total deposits | 108,931 | | | 91,636 | | |\n| 23 | Short-term borrowings | 750 | | | - | | |\n| 24 | Long-term borrowings | 20,581 | | | 20,108 | | |\n| 25 | Accrued expenses and other liabilities | 6,432 | | | 5,618 | | |\n| 26 | Total liabilities | 136,694 | | | 117,362 | | |\n| 27 | Commitments, contingencies and guarantees (Notes 15, 18 and 19) | | | | | | |\n| 28 | Stockholders' Equity | | | | | | |\n| 29 | Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively | 6 | | | 6 | | |\n| 30 | Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively | 1,056 | | | 1,056 | | |\n| 31 | Additional paid-in capital | 4,553 | | | 4,468 | | |\n| 32 | Retained earnings | 30,448 | | | 28,207 | | |\n| 33 | Accumulated other comprehensive loss | (225) | | | (339) | | |\n| 34 | Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively | (21,010) | | | (19,054) | | |\n| 35 | Total stockholders' equity | 14,828 | | | 14,344 | | |\n| 36 | Total liabilities and stockholders' equity | $ | 151,522 | | | $ | 131,706 |\nThe table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n| | | | | | | |\n|---:|:----------------------------------------------------------------------|:-------------|:--------|:-----|:---|:--------|\n| 1 | | December 31, | | | | |\n| 2 | | 2023 | | 2022 | | |\n| 3 | Assets | | | | | |\n| 4 | Restricted cash | $ | 43 | | $ | 41 |\n| 5 | Loan receivables | $ | 30,590 | | $ | 25,937 |\n| 6 | Allowance for credit losses allocated to securitized loan receivables | $ | (1,347) | | $ | (1,152) |\n| 7 | Other assets | $ | 3 | | $ | 3 |\n| 8 | Liabilities | | | | | |\n| 9 | Short- and long-term borrowings | $ | 11,743 | | $ | 10,259 |\n| 10 | Accrued expenses and other liabilities | $ | 19 | | $ | 14 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n","context_markdown_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:---------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | Assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 11,685 | | | $ | 8,856 |\n| 5 | Restricted cash | 43 | | | 41 | | |\n| 7 | Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively) | 13,655 | | | 12,208 | | |\n| 8 | Loan receivables | | | | | | |\n| 9 | Loan receivables | 128,409 | | | 112,120 | | |\n| 10 | Allowance for credit losses | (9,283) | | | (7,374) | | |\n| 11 | Net loan receivables | 119,126 | | | 104,746 | | |\n| 12 | Premises and equipment, net | 1,091 | | | 1,003 | | |\n| 13 | Goodwill | 255 | | | 255 | | |\n| 15 | Other assets | 5,667 | | | 4,597 | | |\n| 16 | Total assets | $ | 151,522 | | | $ | 131,706 |\n| 17 | Liabilities and Stockholders' Equity | | | | | | |\n| 18 | Liabilities | | | | | | |\n| 19 | Deposits | | | | | | |\n| 20 | Interest-bearing deposit accounts | $ | 107,493 | | | $ | 90,151 |\n| 21 | Non-interest-bearing deposit accounts | 1,438 | | | 1,485 | | |\n| 22 | Total deposits | 108,931 | | | 91,636 | | |\n| 23 | Short-term borrowings | 750 | | | - | | |\n| 24 | Long-term borrowings | 20,581 | | | 20,108 | | |\n| 25 | Accrued expenses and other liabilities | 6,432 | | | 5,618 | | |\n| 26 | Total liabilities | 136,694 | | | 117,362 | | |\n| 27 | Commitments, contingencies and guarantees (Notes 15, 18 and 19) | | | | | | |\n| 28 | Stockholders' Equity | | | | | | |\n| 29 | Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively | 6 | | | 6 | | |\n| 30 | Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively | 1,056 | | | 1,056 | | |\n| 31 | Additional paid-in capital | 4,553 | | | 4,468 | | |\n| 32 | Retained earnings | 30,448 | | | 28,207 | | |\n| 33 | Accumulated other comprehensive loss | (225) | | | (339) | | |\n| 34 | Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively | (21,010) | | | (19,054) | | |\n| 35 | Total stockholders' equity | 14,828 | | | 14,344 | | |\n| 36 | Total liabilities and stockholders' equity | $ | 151,522 | | | $ | 131,706 |\nThe table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n| | | | | | | |\n|---:|:----------------------------------------------------------------------|:-------------|:--------|:-----|:---|:--------|\n| 1 | | December 31, | | | | |\n| 2 | | 2023 | | 2022 | | |\n| 3 | Assets | | | | | |\n| 4 | Restricted cash | $ | 43 | | $ | 41 |\n| 5 | Loan receivables | $ | 30,590 | | $ | 25,937 |\n| 6 | Allowance for credit losses allocated to securitized loan receivables | $ | (1,347) | | $ | (1,152) |\n| 7 | Other assets | $ | 3 | | $ | 3 |\n| 8 | Liabilities | | | | | |\n| 9 | Short- and long-term borrowings | $ | 11,743 | | $ | 10,259 |\n| 10 | Accrued expenses and other liabilities | $ | 19 | | $ | 14 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,685 <\/td><\/td><\/td>$<\/td>8,856 <\/td><\/td><\/tr>
Restricted cash<\/td>43 <\/td><\/td><\/td>41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively)<\/td>13,655 <\/td><\/td><\/td>12,208 <\/td><\/td><\/tr>
Loan receivables<\/td><\/td><\/td><\/td><\/tr>
Loan receivables<\/td>128,409 <\/td><\/td><\/td>112,120 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(9,283)<\/td><\/td><\/td>(7,374)<\/td><\/td><\/tr>
Net loan receivables<\/td>119,126 <\/td><\/td><\/td>104,746 <\/td><\/td><\/tr>
Premises and equipment, net<\/td>1,091 <\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Goodwill<\/td>255 <\/td><\/td><\/td>255 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>5,667 <\/td><\/td><\/td>4,597 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposit accounts<\/td>$<\/td>107,493 <\/td><\/td><\/td>$<\/td>90,151 <\/td><\/td><\/tr>
Non-interest-bearing deposit accounts<\/td>1,438 <\/td><\/td><\/td>1,485 <\/td><\/td><\/tr>
Total deposits<\/td>108,931 <\/td><\/td><\/td>91,636 <\/td><\/td><\/tr>
Short-term borrowings<\/td>750 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>20,581 <\/td><\/td><\/td>20,108 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>6,432 <\/td><\/td><\/td>5,618 <\/td><\/td><\/tr>
Total liabilities<\/td>136,694 <\/td><\/td><\/td>117,362 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees (Notes 15, 18 and 19)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively<\/td>6 <\/td><\/td><\/td>6 <\/td><\/td><\/tr>
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively<\/td>1,056 <\/td><\/td><\/td>1,056 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>4,553 <\/td><\/td><\/td>4,468 <\/td><\/td><\/tr>
Retained earnings<\/td>30,448 <\/td><\/td><\/td>28,207 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(225)<\/td><\/td><\/td>(339)<\/td><\/td><\/tr>
Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively<\/td>(21,010)<\/td><\/td><\/td>(19,054)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>14,828 <\/td><\/td><\/td>14,344 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>The table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Restricted cash<\/td>$<\/td>43 <\/td><\/td><\/td>$<\/td>41 <\/td><\/td><\/tr>
Loan receivables<\/td>$<\/td>30,590 <\/td><\/td><\/td>$<\/td>25,937 <\/td><\/td><\/tr>
Allowance for credit losses allocated to securitized loan receivables<\/td>$<\/td>(1,347)<\/td><\/td><\/td>$<\/td>(1,152)<\/td><\/td><\/tr>
Other assets<\/td>$<\/td>3 <\/td><\/td><\/td>$<\/td>3 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Short- and long-term borrowings<\/td>$<\/td>11,743 <\/td><\/td><\/td>$<\/td>10,259 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>$<\/td>19 <\/td><\/td><\/td>$<\/td>14 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n","context_html_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,685 <\/td><\/td><\/td>$<\/td>8,856 <\/td><\/td><\/tr>
Restricted cash<\/td>43 <\/td><\/td><\/td>41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively)<\/td>13,655 <\/td><\/td><\/td>12,208 <\/td><\/td><\/tr>
Loan receivables<\/td><\/td><\/td><\/td><\/tr>
Loan receivables<\/td>128,409 <\/td><\/td><\/td>112,120 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(9,283)<\/td><\/td><\/td>(7,374)<\/td><\/td><\/tr>
Net loan receivables<\/td>119,126 <\/td><\/td><\/td>104,746 <\/td><\/td><\/tr>
Premises and equipment, net<\/td>1,091 <\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Goodwill<\/td>255 <\/td><\/td><\/td>255 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>5,667 <\/td><\/td><\/td>4,597 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposit accounts<\/td>$<\/td>107,493 <\/td><\/td><\/td>$<\/td>90,151 <\/td><\/td><\/tr>
Non-interest-bearing deposit accounts<\/td>1,438 <\/td><\/td><\/td>1,485 <\/td><\/td><\/tr>
Total deposits<\/td>108,931 <\/td><\/td><\/td>91,636 <\/td><\/td><\/tr>
Short-term borrowings<\/td>750 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>20,581 <\/td><\/td><\/td>20,108 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>6,432 <\/td><\/td><\/td>5,618 <\/td><\/td><\/tr>
Total liabilities<\/td>136,694 <\/td><\/td><\/td>117,362 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees (Notes 15, 18 and 19)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively<\/td>6 <\/td><\/td><\/td>6 <\/td><\/td><\/tr>
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively<\/td>1,056 <\/td><\/td><\/td>1,056 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>4,553 <\/td><\/td><\/td>4,468 <\/td><\/td><\/tr>
Retained earnings<\/td>30,448 <\/td><\/td><\/td>28,207 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(225)<\/td><\/td><\/td>(339)<\/td><\/td><\/tr>
Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively<\/td>(21,010)<\/td><\/td><\/td>(19,054)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>14,828 <\/td><\/td><\/td>14,344 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>The table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Restricted cash<\/td>$<\/td>43 <\/td><\/td><\/td>$<\/td>41 <\/td><\/td><\/tr>
Loan receivables<\/td>$<\/td>30,590 <\/td><\/td><\/td>$<\/td>25,937 <\/td><\/td><\/tr>
Allowance for credit losses allocated to securitized loan receivables<\/td>$<\/td>(1,347)<\/td><\/td><\/td>$<\/td>(1,152)<\/td><\/td><\/tr>
Other assets<\/td>$<\/td>3 <\/td><\/td><\/td>$<\/td>3 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Short- and long-term borrowings<\/td>$<\/td>11,743 <\/td><\/td><\/td>$<\/td>10,259 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>$<\/td>19 <\/td><\/td><\/td>$<\/td>14 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n"} +{"QID":"q_Ra022","Question":"What was Discover\u2019s ROE for 2023 compared to 2022?","ground_truth_answer":"Discover Financial Services: Return on Equity (ROE) for 2023 vs. 2022\nROE Calculation: Formula: ROE=Net Income allocated to Common Shareholders\/Average Shareholders\u2019 Equity\nNet Income allocated to common shareholders:\n2023: $2,859 million\n2022: $4,286 million\nAverage Shareholders\u2019 Equity=(Equity (2023)+Equity (2022))\/2=($14,828 million+$14,344 million)\/2=$14,586 million\nROE Calculation:\n2023: ROE (2023)=$2,859 million\/$14,586 million = 19.6%\n2022: ROE (2022)=$4,286 million\/$14,344 million = 29.9%","question_type":"Ratio","page_number":"85, 86","accession_number":"0001393612-24-000010","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:---------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | Assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 11,685 | | | $ | 8,856 |\n| 5 | Restricted cash | 43 | | | 41 | | |\n| 7 | Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively) | 13,655 | | | 12,208 | | |\n| 8 | Loan receivables | | | | | | |\n| 9 | Loan receivables | 128,409 | | | 112,120 | | |\n| 10 | Allowance for credit losses | (9,283) | | | (7,374) | | |\n| 11 | Net loan receivables | 119,126 | | | 104,746 | | |\n| 12 | Premises and equipment, net | 1,091 | | | 1,003 | | |\n| 13 | Goodwill | 255 | | | 255 | | |\n| 15 | Other assets | 5,667 | | | 4,597 | | |\n| 16 | Total assets | $ | 151,522 | | | $ | 131,706 |\n| 17 | Liabilities and Stockholders' Equity | | | | | | |\n| 18 | Liabilities | | | | | | |\n| 19 | Deposits | | | | | | |\n| 20 | Interest-bearing deposit accounts | $ | 107,493 | | | $ | 90,151 |\n| 21 | Non-interest-bearing deposit accounts | 1,438 | | | 1,485 | | |\n| 22 | Total deposits | 108,931 | | | 91,636 | | |\n| 23 | Short-term borrowings | 750 | | | - | | |\n| 24 | Long-term borrowings | 20,581 | | | 20,108 | | |\n| 25 | Accrued expenses and other liabilities | 6,432 | | | 5,618 | | |\n| 26 | Total liabilities | 136,694 | | | 117,362 | | |\n| 27 | Commitments, contingencies and guarantees (Notes 15, 18 and 19) | | | | | | |\n| 28 | Stockholders' Equity | | | | | | |\n| 29 | Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively | 6 | | | 6 | | |\n| 30 | Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively | 1,056 | | | 1,056 | | |\n| 31 | Additional paid-in capital | 4,553 | | | 4,468 | | |\n| 32 | Retained earnings | 30,448 | | | 28,207 | | |\n| 33 | Accumulated other comprehensive loss | (225) | | | (339) | | |\n| 34 | Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively | (21,010) | | | (19,054) | | |\n| 35 | Total stockholders' equity | 14,828 | | | 14,344 | | |\n| 36 | Total liabilities and stockholders' equity | $ | 151,522 | | | $ | 131,706 |\nThe table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n| | | | | | | |\n|---:|:----------------------------------------------------------------------|:-------------|:--------|:-----|:---|:--------|\n| 1 | | December 31, | | | | |\n| 2 | | 2023 | | 2022 | | |\n| 3 | Assets | | | | | |\n| 4 | Restricted cash | $ | 43 | | $ | 41 |\n| 5 | Loan receivables | $ | 30,590 | | $ | 25,937 |\n| 6 | Allowance for credit losses allocated to securitized loan receivables | $ | (1,347) | | $ | (1,152) |\n| 7 | Other assets | $ | 3 | | $ | 3 |\n| 8 | Liabilities | | | | | |\n| 9 | Short- and long-term borrowings | $ | 11,743 | | $ | 10,259 |\n| 10 | Accrued expenses and other liabilities | $ | 19 | | $ | 14 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 86: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)| | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Interest income | | | | | | | | | |\n| 4 | Credit card loans | $ | 14,438 | | | $ | 10,632 | | $ | 8,717 |\n| 5 | Other loans | 2,515 | | | 1,870 | | | 1,734 | | |\n| 6 | Investment securities | 449 | | | 179 | | | 182 | | |\n| 7 | Other interest income | 443 | | | 183 | | | 18 | | |\n| 8 | Total interest income | 17,845 | | | 12,864 | | | 10,651 | | |\n| 9 | Interest expense | | | | | | | | | |\n| 10 | Deposits | 3,886 | | | 1,257 | | | 661 | | |\n| 11 | Short-term borrowings | 5 | | | 2 | | | - | | |\n| 12 | Long-term borrowings | 855 | | | 606 | | | 473 | | |\n| 13 | Total interest expense | 4,746 | | | 1,865 | | | 1,134 | | |\n| 14 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | |\n| 15 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | |\n| 16 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | |\n| 17 | Other income | | | | | | | | | |\n| 18 | Discount and interchange revenue, net | 1,447 | | | 1,380 | | | 1,188 | | |\n| 19 | Protection products revenue | 172 | | | 172 | | | 165 | | |\n| 20 | Loan fee income | 763 | | | 632 | | | 464 | | |\n| 21 | Transaction processing revenue | 303 | | | 249 | | | 227 | | |\n| 22 | (Losses) gains on equity investments | (9) | | | (214) | | | 424 | | |\n| 23 | Other income | 85 | | | 75 | | | 66 | | |\n| 24 | Total other income | 2,761 | | | 2,294 | | | 2,534 | | |\n| 25 | Other expense | | | | | | | | | |\n| 26 | Employee compensation and benefits | 2,434 | | | 2,139 | | | 1,986 | | |\n| 27 | Marketing and business development | 1,164 | | | 1,035 | | | 810 | | |\n| 28 | Information processing and communications | 608 | | | 513 | | | 500 | | |\n| 29 | Professional fees | 1,041 | | | 871 | | | 797 | | |\n| 30 | Premises and equipment | 89 | | | 118 | | | 92 | | |\n| 31 | Other expense | 680 | | | 540 | | | 620 | | |\n| 32 | Total other expense | 6,016 | | | 5,216 | | | 4,805 | | |\n| 33 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | |\n| 34 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | |\n| 35 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 36 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 37 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 38 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_markdown_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:---------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | Assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 11,685 | | | $ | 8,856 |\n| 5 | Restricted cash | 43 | | | 41 | | |\n| 7 | Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively) | 13,655 | | | 12,208 | | |\n| 8 | Loan receivables | | | | | | |\n| 9 | Loan receivables | 128,409 | | | 112,120 | | |\n| 10 | Allowance for credit losses | (9,283) | | | (7,374) | | |\n| 11 | Net loan receivables | 119,126 | | | 104,746 | | |\n| 12 | Premises and equipment, net | 1,091 | | | 1,003 | | |\n| 13 | Goodwill | 255 | | | 255 | | |\n| 15 | Other assets | 5,667 | | | 4,597 | | |\n| 16 | Total assets | $ | 151,522 | | | $ | 131,706 |\n| 17 | Liabilities and Stockholders' Equity | | | | | | |\n| 18 | Liabilities | | | | | | |\n| 19 | Deposits | | | | | | |\n| 20 | Interest-bearing deposit accounts | $ | 107,493 | | | $ | 90,151 |\n| 21 | Non-interest-bearing deposit accounts | 1,438 | | | 1,485 | | |\n| 22 | Total deposits | 108,931 | | | 91,636 | | |\n| 23 | Short-term borrowings | 750 | | | - | | |\n| 24 | Long-term borrowings | 20,581 | | | 20,108 | | |\n| 25 | Accrued expenses and other liabilities | 6,432 | | | 5,618 | | |\n| 26 | Total liabilities | 136,694 | | | 117,362 | | |\n| 27 | Commitments, contingencies and guarantees (Notes 15, 18 and 19) | | | | | | |\n| 28 | Stockholders' Equity | | | | | | |\n| 29 | Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively | 6 | | | 6 | | |\n| 30 | Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively | 1,056 | | | 1,056 | | |\n| 31 | Additional paid-in capital | 4,553 | | | 4,468 | | |\n| 32 | Retained earnings | 30,448 | | | 28,207 | | |\n| 33 | Accumulated other comprehensive loss | (225) | | | (339) | | |\n| 34 | Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively | (21,010) | | | (19,054) | | |\n| 35 | Total stockholders' equity | 14,828 | | | 14,344 | | |\n| 36 | Total liabilities and stockholders' equity | $ | 151,522 | | | $ | 131,706 |\nThe table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n| | | | | | | |\n|---:|:----------------------------------------------------------------------|:-------------|:--------|:-----|:---|:--------|\n| 1 | | December 31, | | | | |\n| 2 | | 2023 | | 2022 | | |\n| 3 | Assets | | | | | |\n| 4 | Restricted cash | $ | 43 | | $ | 41 |\n| 5 | Loan receivables | $ | 30,590 | | $ | 25,937 |\n| 6 | Allowance for credit losses allocated to securitized loan receivables | $ | (1,347) | | $ | (1,152) |\n| 7 | Other assets | $ | 3 | | $ | 3 |\n| 8 | Liabilities | | | | | |\n| 9 | Short- and long-term borrowings | $ | 11,743 | | $ | 10,259 |\n| 10 | Accrued expenses and other liabilities | $ | 19 | | $ | 14 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n, \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)| | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Interest income | | | | | | | | | |\n| 4 | Credit card loans | $ | 14,438 | | | $ | 10,632 | | $ | 8,717 |\n| 5 | Other loans | 2,515 | | | 1,870 | | | 1,734 | | |\n| 6 | Investment securities | 449 | | | 179 | | | 182 | | |\n| 7 | Other interest income | 443 | | | 183 | | | 18 | | |\n| 8 | Total interest income | 17,845 | | | 12,864 | | | 10,651 | | |\n| 9 | Interest expense | | | | | | | | | |\n| 10 | Deposits | 3,886 | | | 1,257 | | | 661 | | |\n| 11 | Short-term borrowings | 5 | | | 2 | | | - | | |\n| 12 | Long-term borrowings | 855 | | | 606 | | | 473 | | |\n| 13 | Total interest expense | 4,746 | | | 1,865 | | | 1,134 | | |\n| 14 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | |\n| 15 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | |\n| 16 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | |\n| 17 | Other income | | | | | | | | | |\n| 18 | Discount and interchange revenue, net | 1,447 | | | 1,380 | | | 1,188 | | |\n| 19 | Protection products revenue | 172 | | | 172 | | | 165 | | |\n| 20 | Loan fee income | 763 | | | 632 | | | 464 | | |\n| 21 | Transaction processing revenue | 303 | | | 249 | | | 227 | | |\n| 22 | (Losses) gains on equity investments | (9) | | | (214) | | | 424 | | |\n| 23 | Other income | 85 | | | 75 | | | 66 | | |\n| 24 | Total other income | 2,761 | | | 2,294 | | | 2,534 | | |\n| 25 | Other expense | | | | | | | | | |\n| 26 | Employee compensation and benefits | 2,434 | | | 2,139 | | | 1,986 | | |\n| 27 | Marketing and business development | 1,164 | | | 1,035 | | | 810 | | |\n| 28 | Information processing and communications | 608 | | | 513 | | | 500 | | |\n| 29 | Professional fees | 1,041 | | | 871 | | | 797 | | |\n| 30 | Premises and equipment | 89 | | | 118 | | | 92 | | |\n| 31 | Other expense | 680 | | | 540 | | | 620 | | |\n| 32 | Total other expense | 6,016 | | | 5,216 | | | 4,805 | | |\n| 33 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | |\n| 34 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | |\n| 35 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 36 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 37 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 38 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,685 <\/td><\/td><\/td>$<\/td>8,856 <\/td><\/td><\/tr>
Restricted cash<\/td>43 <\/td><\/td><\/td>41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively)<\/td>13,655 <\/td><\/td><\/td>12,208 <\/td><\/td><\/tr>
Loan receivables<\/td><\/td><\/td><\/td><\/tr>
Loan receivables<\/td>128,409 <\/td><\/td><\/td>112,120 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(9,283)<\/td><\/td><\/td>(7,374)<\/td><\/td><\/tr>
Net loan receivables<\/td>119,126 <\/td><\/td><\/td>104,746 <\/td><\/td><\/tr>
Premises and equipment, net<\/td>1,091 <\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Goodwill<\/td>255 <\/td><\/td><\/td>255 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>5,667 <\/td><\/td><\/td>4,597 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposit accounts<\/td>$<\/td>107,493 <\/td><\/td><\/td>$<\/td>90,151 <\/td><\/td><\/tr>
Non-interest-bearing deposit accounts<\/td>1,438 <\/td><\/td><\/td>1,485 <\/td><\/td><\/tr>
Total deposits<\/td>108,931 <\/td><\/td><\/td>91,636 <\/td><\/td><\/tr>
Short-term borrowings<\/td>750 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>20,581 <\/td><\/td><\/td>20,108 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>6,432 <\/td><\/td><\/td>5,618 <\/td><\/td><\/tr>
Total liabilities<\/td>136,694 <\/td><\/td><\/td>117,362 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees (Notes 15, 18 and 19)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively<\/td>6 <\/td><\/td><\/td>6 <\/td><\/td><\/tr>
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively<\/td>1,056 <\/td><\/td><\/td>1,056 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>4,553 <\/td><\/td><\/td>4,468 <\/td><\/td><\/tr>
Retained earnings<\/td>30,448 <\/td><\/td><\/td>28,207 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(225)<\/td><\/td><\/td>(339)<\/td><\/td><\/tr>
Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively<\/td>(21,010)<\/td><\/td><\/td>(19,054)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>14,828 <\/td><\/td><\/td>14,344 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>The table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Restricted cash<\/td>$<\/td>43 <\/td><\/td><\/td>$<\/td>41 <\/td><\/td><\/tr>
Loan receivables<\/td>$<\/td>30,590 <\/td><\/td><\/td>$<\/td>25,937 <\/td><\/td><\/tr>
Allowance for credit losses allocated to securitized loan receivables<\/td>$<\/td>(1,347)<\/td><\/td><\/td>$<\/td>(1,152)<\/td><\/td><\/tr>
Other assets<\/td>$<\/td>3 <\/td><\/td><\/td>$<\/td>3 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Short- and long-term borrowings<\/td>$<\/td>11,743 <\/td><\/td><\/td>$<\/td>10,259 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>$<\/td>19 <\/td><\/td><\/td>$<\/td>14 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 86: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>14,438 <\/td><\/td><\/td>$<\/td>10,632 <\/td><\/td><\/td>$<\/td>8,717 <\/td><\/td><\/tr>
Other loans<\/td>2,515 <\/td><\/td><\/td>1,870 <\/td><\/td><\/td>1,734 <\/td><\/td><\/tr>
Investment securities<\/td>449 <\/td><\/td><\/td>179 <\/td><\/td><\/td>182 <\/td><\/td><\/tr>
Other interest income<\/td>443 <\/td><\/td><\/td>183 <\/td><\/td><\/td>18 <\/td><\/td><\/tr>
Total interest income<\/td>17,845 <\/td><\/td><\/td>12,864 <\/td><\/td><\/td>10,651 <\/td><\/td><\/tr>
Interest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td>3,886 <\/td><\/td><\/td>1,257 <\/td><\/td><\/td>661 <\/td><\/td><\/tr>
Short-term borrowings<\/td>5 <\/td><\/td><\/td>2 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>855 <\/td><\/td><\/td>606 <\/td><\/td><\/td>473 <\/td><\/td><\/tr>
Total interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/tr>
Other income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discount and interchange revenue, net<\/td>1,447 <\/td><\/td><\/td>1,380 <\/td><\/td><\/td>1,188 <\/td><\/td><\/tr>
Protection products revenue<\/td>172 <\/td><\/td><\/td>172 <\/td><\/td><\/td>165 <\/td><\/td><\/tr>
Loan fee income<\/td>763 <\/td><\/td><\/td>632 <\/td><\/td><\/td>464 <\/td><\/td><\/tr>
Transaction processing revenue<\/td>303 <\/td><\/td><\/td>249 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
(Losses) gains on equity investments<\/td>(9)<\/td><\/td><\/td>(214)<\/td><\/td><\/td>424 <\/td><\/td><\/tr>
Other income<\/td>85 <\/td><\/td><\/td>75 <\/td><\/td><\/td>66 <\/td><\/td><\/tr>
Total other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/tr>
Other expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>2,434 <\/td><\/td><\/td>2,139 <\/td><\/td><\/td>1,986 <\/td><\/td><\/tr>
Marketing and business development<\/td>1,164 <\/td><\/td><\/td>1,035 <\/td><\/td><\/td>810 <\/td><\/td><\/tr>
Information processing and communications<\/td>608 <\/td><\/td><\/td>513 <\/td><\/td><\/td>500 <\/td><\/td><\/tr>
Professional fees<\/td>1,041 <\/td><\/td><\/td>871 <\/td><\/td><\/td>797 <\/td><\/td><\/tr>
Premises and equipment<\/td>89 <\/td><\/td><\/td>118 <\/td><\/td><\/td>92 <\/td><\/td><\/tr>
Other expense<\/td>680 <\/td><\/td><\/td>540 <\/td><\/td><\/td>620 <\/td><\/td><\/tr>
Total other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_html_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,685 <\/td><\/td><\/td>$<\/td>8,856 <\/td><\/td><\/tr>
Restricted cash<\/td>43 <\/td><\/td><\/td>41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively)<\/td>13,655 <\/td><\/td><\/td>12,208 <\/td><\/td><\/tr>
Loan receivables<\/td><\/td><\/td><\/td><\/tr>
Loan receivables<\/td>128,409 <\/td><\/td><\/td>112,120 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(9,283)<\/td><\/td><\/td>(7,374)<\/td><\/td><\/tr>
Net loan receivables<\/td>119,126 <\/td><\/td><\/td>104,746 <\/td><\/td><\/tr>
Premises and equipment, net<\/td>1,091 <\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Goodwill<\/td>255 <\/td><\/td><\/td>255 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>5,667 <\/td><\/td><\/td>4,597 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposit accounts<\/td>$<\/td>107,493 <\/td><\/td><\/td>$<\/td>90,151 <\/td><\/td><\/tr>
Non-interest-bearing deposit accounts<\/td>1,438 <\/td><\/td><\/td>1,485 <\/td><\/td><\/tr>
Total deposits<\/td>108,931 <\/td><\/td><\/td>91,636 <\/td><\/td><\/tr>
Short-term borrowings<\/td>750 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>20,581 <\/td><\/td><\/td>20,108 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>6,432 <\/td><\/td><\/td>5,618 <\/td><\/td><\/tr>
Total liabilities<\/td>136,694 <\/td><\/td><\/td>117,362 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees (Notes 15, 18 and 19)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively<\/td>6 <\/td><\/td><\/td>6 <\/td><\/td><\/tr>
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively<\/td>1,056 <\/td><\/td><\/td>1,056 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>4,553 <\/td><\/td><\/td>4,468 <\/td><\/td><\/tr>
Retained earnings<\/td>30,448 <\/td><\/td><\/td>28,207 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(225)<\/td><\/td><\/td>(339)<\/td><\/td><\/tr>
Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively<\/td>(21,010)<\/td><\/td><\/td>(19,054)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>14,828 <\/td><\/td><\/td>14,344 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>The table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Restricted cash<\/td>$<\/td>43 <\/td><\/td><\/td>$<\/td>41 <\/td><\/td><\/tr>
Loan receivables<\/td>$<\/td>30,590 <\/td><\/td><\/td>$<\/td>25,937 <\/td><\/td><\/tr>
Allowance for credit losses allocated to securitized loan receivables<\/td>$<\/td>(1,347)<\/td><\/td><\/td>$<\/td>(1,152)<\/td><\/td><\/tr>
Other assets<\/td>$<\/td>3 <\/td><\/td><\/td>$<\/td>3 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Short- and long-term borrowings<\/td>$<\/td>11,743 <\/td><\/td><\/td>$<\/td>10,259 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>$<\/td>19 <\/td><\/td><\/td>$<\/td>14 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n, \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>14,438 <\/td><\/td><\/td>$<\/td>10,632 <\/td><\/td><\/td>$<\/td>8,717 <\/td><\/td><\/tr>
Other loans<\/td>2,515 <\/td><\/td><\/td>1,870 <\/td><\/td><\/td>1,734 <\/td><\/td><\/tr>
Investment securities<\/td>449 <\/td><\/td><\/td>179 <\/td><\/td><\/td>182 <\/td><\/td><\/tr>
Other interest income<\/td>443 <\/td><\/td><\/td>183 <\/td><\/td><\/td>18 <\/td><\/td><\/tr>
Total interest income<\/td>17,845 <\/td><\/td><\/td>12,864 <\/td><\/td><\/td>10,651 <\/td><\/td><\/tr>
Interest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td>3,886 <\/td><\/td><\/td>1,257 <\/td><\/td><\/td>661 <\/td><\/td><\/tr>
Short-term borrowings<\/td>5 <\/td><\/td><\/td>2 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>855 <\/td><\/td><\/td>606 <\/td><\/td><\/td>473 <\/td><\/td><\/tr>
Total interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/tr>
Other income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discount and interchange revenue, net<\/td>1,447 <\/td><\/td><\/td>1,380 <\/td><\/td><\/td>1,188 <\/td><\/td><\/tr>
Protection products revenue<\/td>172 <\/td><\/td><\/td>172 <\/td><\/td><\/td>165 <\/td><\/td><\/tr>
Loan fee income<\/td>763 <\/td><\/td><\/td>632 <\/td><\/td><\/td>464 <\/td><\/td><\/tr>
Transaction processing revenue<\/td>303 <\/td><\/td><\/td>249 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
(Losses) gains on equity investments<\/td>(9)<\/td><\/td><\/td>(214)<\/td><\/td><\/td>424 <\/td><\/td><\/tr>
Other income<\/td>85 <\/td><\/td><\/td>75 <\/td><\/td><\/td>66 <\/td><\/td><\/tr>
Total other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/tr>
Other expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>2,434 <\/td><\/td><\/td>2,139 <\/td><\/td><\/td>1,986 <\/td><\/td><\/tr>
Marketing and business development<\/td>1,164 <\/td><\/td><\/td>1,035 <\/td><\/td><\/td>810 <\/td><\/td><\/tr>
Information processing and communications<\/td>608 <\/td><\/td><\/td>513 <\/td><\/td><\/td>500 <\/td><\/td><\/tr>
Professional fees<\/td>1,041 <\/td><\/td><\/td>871 <\/td><\/td><\/td>797 <\/td><\/td><\/tr>
Premises and equipment<\/td>89 <\/td><\/td><\/td>118 <\/td><\/td><\/td>92 <\/td><\/td><\/tr>
Other expense<\/td>680 <\/td><\/td><\/td>540 <\/td><\/td><\/td>620 <\/td><\/td><\/tr>
Total other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n"} +{"QID":"q_Ra023","Question":"What is the Capital Expenditure Ratio for 2024, and how does it compare to 2023?","ground_truth_answer":"The Capital Expenditure Ratio is Capital Expenditures divided by Net Sales. \nFor 2024:\nCapital Expenditures = $3,322 million\nNet Sales = $84,039 million\nCapital Expenditure Ratio = $3,322 million \/ $84,039 million = 3.95%\n\nFor 2023:\nCapital Expenditures = $3,062 million\nNet Sales = $82,006 million\nCapital Expenditure Ratio = $3,062 million \/ $82,006 million = 3.73%\n","question_type":"Ratio","page_number":"36, 39","accession_number":"0000080424-24-000083","item":"Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 39: \nThe Procter & Gamble Company 39\n\n\n\nConsolidated Statements of Cash Flows\n| | | | | | | | | | | |\n|---:|:---------------------------------------------------------------------------------|:---------|:------|:-----|:---------|:-----|:------|:---------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR | $ | 8,246 | | | $ | 7,214 | | $ | 10,288 |\n| 3 | OPERATING ACTIVITIES | | | | | | | | | |\n| 4 | Net earnings | 14,974 | | | 14,738 | | | 14,793 | | |\n| 5 | Depreciation and amortization | 2,896 | | | 2,714 | | | 2,807 | | |\n| 7 | Share-based compensation expense | 562 | | | 545 | | | 528 | | |\n| 8 | Deferred income taxes | (244) | | | (453) | | | (402) | | |\n| 9 | Loss\/(gain) on sale of assets | (215) | | | (40) | | | (85) | | |\n| 10 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 12 | Change in accounts receivable | (766) | | | (307) | | | (694) | | |\n| 13 | Change in inventories | (70) | | | (119) | | | (1,247) | | |\n| 14 | Change in accounts payable and accrued and other liabilities | 1,814 | | | 313 | | | 1,429 | | |\n| 15 | Change in other operating assets and liabilities | (1,414) | | | (1,107) | | | (635) | | |\n| 16 | Other | 969 | | | 564 | | | 229 | | |\n| 17 | TOTAL OPERATING ACTIVITIES | 19,846 | | | 16,848 | | | 16,723 | | |\n| 18 | INVESTING ACTIVITIES | | | | | | | | | |\n| 19 | Capital expenditures | (3,322) | | | (3,062) | | | (3,156) | | |\n| 20 | Proceeds from asset sales | 346 | | | 46 | | | 110 | | |\n| 21 | Acquisitions, net of cash acquired | (21) | | | (765) | | | (1,381) | | |\n| 22 | Other investing activity | (507) | | | 281 | | | 3 | | |\n| 23 | TOTAL INVESTING ACTIVITIES | (3,504) | | | (3,500) | | | (4,424) | | |\n| 24 | FINANCING ACTIVITIES | | | | | | | | | |\n| 25 | Dividends to shareholders | (9,312) | | | (8,999) | | | (8,770) | | |\n| 26 | Additions to short-term debt with original maturities of more than three months | 3,528 | | | 17,168 | | | 10,411 | | |\n| 27 | Reductions in short-term debt with original maturities of more than three months | (7,689) | | | (13,031) | | | (11,478) | | |\n| 28 | Net additions\/(reductions) to other short-term debt | 857 | | | (3,319) | | | 917 | | |\n| 29 | Additions to long-term debt | 3,197 | | | 3,997 | | | 4,385 | | |\n| 30 | Reductions in long-term debt | (2,335) | | | (1,878) | | | (2,343) | | |\n| 31 | Treasury stock purchases | (5,006) | | | (7,353) | | | (10,003) | | |\n| 32 | Impact of stock options and other | 1,905 | | | 1,269 | | | 2,005 | | |\n| 33 | TOTAL FINANCING ACTIVITIES | (14,855) | | | (12,146) | | | (14,876) | | |\n| 34 | EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (251) | | | (170) | | | (497) | | |\n| 35 | CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 1,235 | | | 1,032 | | | (3,074) | | |\n| 36 | CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR | $ | 9,482 | | | $ | 8,246 | | $ | 7,214 |\n| 38 | SUPPLEMENTAL DISCLOSURE | | | | | | | | | |\n| 39 | Cash payments for interest | $ | 878 | | | $ | 721 | | $ | 451 |\n| 40 | Cash payments for income taxes | 4,363 | | | 4,278 | | | 3,818 | | |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_markdown_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 39\n\n\n\nConsolidated Statements of Cash Flows\n| | | | | | | | | | | |\n|---:|:---------------------------------------------------------------------------------|:---------|:------|:-----|:---------|:-----|:------|:---------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR | $ | 8,246 | | | $ | 7,214 | | $ | 10,288 |\n| 3 | OPERATING ACTIVITIES | | | | | | | | | |\n| 4 | Net earnings | 14,974 | | | 14,738 | | | 14,793 | | |\n| 5 | Depreciation and amortization | 2,896 | | | 2,714 | | | 2,807 | | |\n| 7 | Share-based compensation expense | 562 | | | 545 | | | 528 | | |\n| 8 | Deferred income taxes | (244) | | | (453) | | | (402) | | |\n| 9 | Loss\/(gain) on sale of assets | (215) | | | (40) | | | (85) | | |\n| 10 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 12 | Change in accounts receivable | (766) | | | (307) | | | (694) | | |\n| 13 | Change in inventories | (70) | | | (119) | | | (1,247) | | |\n| 14 | Change in accounts payable and accrued and other liabilities | 1,814 | | | 313 | | | 1,429 | | |\n| 15 | Change in other operating assets and liabilities | (1,414) | | | (1,107) | | | (635) | | |\n| 16 | Other | 969 | | | 564 | | | 229 | | |\n| 17 | TOTAL OPERATING ACTIVITIES | 19,846 | | | 16,848 | | | 16,723 | | |\n| 18 | INVESTING ACTIVITIES | | | | | | | | | |\n| 19 | Capital expenditures | (3,322) | | | (3,062) | | | (3,156) | | |\n| 20 | Proceeds from asset sales | 346 | | | 46 | | | 110 | | |\n| 21 | Acquisitions, net of cash acquired | (21) | | | (765) | | | (1,381) | | |\n| 22 | Other investing activity | (507) | | | 281 | | | 3 | | |\n| 23 | TOTAL INVESTING ACTIVITIES | (3,504) | | | (3,500) | | | (4,424) | | |\n| 24 | FINANCING ACTIVITIES | | | | | | | | | |\n| 25 | Dividends to shareholders | (9,312) | | | (8,999) | | | (8,770) | | |\n| 26 | Additions to short-term debt with original maturities of more than three months | 3,528 | | | 17,168 | | | 10,411 | | |\n| 27 | Reductions in short-term debt with original maturities of more than three months | (7,689) | | | (13,031) | | | (11,478) | | |\n| 28 | Net additions\/(reductions) to other short-term debt | 857 | | | (3,319) | | | 917 | | |\n| 29 | Additions to long-term debt | 3,197 | | | 3,997 | | | 4,385 | | |\n| 30 | Reductions in long-term debt | (2,335) | | | (1,878) | | | (2,343) | | |\n| 31 | Treasury stock purchases | (5,006) | | | (7,353) | | | (10,003) | | |\n| 32 | Impact of stock options and other | 1,905 | | | 1,269 | | | 2,005 | | |\n| 33 | TOTAL FINANCING ACTIVITIES | (14,855) | | | (12,146) | | | (14,876) | | |\n| 34 | EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (251) | | | (170) | | | (497) | | |\n| 35 | CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 1,235 | | | 1,032 | | | (3,074) | | |\n| 36 | CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR | $ | 9,482 | | | $ | 8,246 | | $ | 7,214 |\n| 38 | SUPPLEMENTAL DISCLOSURE | | | | | | | | | |\n| 39 | Cash payments for interest | $ | 878 | | | $ | 721 | | $ | 451 |\n| 40 | Cash payments for income taxes | 4,363 | | | 4,278 | | | 3,818 | | |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 39: \nThe Procter & Gamble Company 39\n\n\n\nConsolidated Statements of Cash Flows\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR<\/td>$<\/td>8,246 <\/td><\/td><\/td>$<\/td>7,214 <\/td><\/td><\/td>$<\/td>10,288 <\/td><\/td><\/tr>
OPERATING ACTIVITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>2,896 <\/td><\/td><\/td>2,714 <\/td><\/td><\/td>2,807 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Share-based compensation expense<\/td>562 <\/td><\/td><\/td>545 <\/td><\/td><\/td>528 <\/td><\/td><\/tr>
Deferred income taxes<\/td>(244)<\/td><\/td><\/td>(453)<\/td><\/td><\/td>(402)<\/td><\/td><\/tr>
Loss\/(gain) on sale of assets<\/td>(215)<\/td><\/td><\/td>(40)<\/td><\/td><\/td>(85)<\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in accounts receivable<\/td>(766)<\/td><\/td><\/td>(307)<\/td><\/td><\/td>(694)<\/td><\/td><\/tr>
Change in inventories<\/td>(70)<\/td><\/td><\/td>(119)<\/td><\/td><\/td>(1,247)<\/td><\/td><\/tr>
Change in accounts payable and accrued and other liabilities<\/td>1,814 <\/td><\/td><\/td>313 <\/td><\/td><\/td>1,429 <\/td><\/td><\/tr>
Change in other operating assets and liabilities<\/td>(1,414)<\/td><\/td><\/td>(1,107)<\/td><\/td><\/td>(635)<\/td><\/td><\/tr>
Other<\/td>969 <\/td><\/td><\/td>564 <\/td><\/td><\/td>229 <\/td><\/td><\/tr>
TOTAL OPERATING ACTIVITIES<\/td>19,846 <\/td><\/td><\/td>16,848 <\/td><\/td><\/td>16,723 <\/td><\/td><\/tr>
INVESTING ACTIVITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Capital expenditures<\/td>(3,322)<\/td><\/td><\/td>(3,062)<\/td><\/td><\/td>(3,156)<\/td><\/td><\/tr>
Proceeds from asset sales<\/td>346 <\/td><\/td><\/td>46 <\/td><\/td><\/td>110 <\/td><\/td><\/tr>
Acquisitions, net of cash acquired<\/td>(21)<\/td><\/td><\/td>(765)<\/td><\/td><\/td>(1,381)<\/td><\/td><\/tr>
Other investing activity<\/td>(507)<\/td><\/td><\/td>281 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
TOTAL INVESTING ACTIVITIES<\/td>(3,504)<\/td><\/td><\/td>(3,500)<\/td><\/td><\/td>(4,424)<\/td><\/td><\/tr>
FINANCING ACTIVITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Dividends to shareholders<\/td>(9,312)<\/td><\/td><\/td>(8,999)<\/td><\/td><\/td>(8,770)<\/td><\/td><\/tr>
Additions to short-term debt with original maturities of more than three months<\/td>3,528 <\/td><\/td><\/td>17,168 <\/td><\/td><\/td>10,411 <\/td><\/td><\/tr>
Reductions in short-term debt with original maturities of more than three months<\/td>(7,689)<\/td><\/td><\/td>(13,031)<\/td><\/td><\/td>(11,478)<\/td><\/td><\/tr>
Net additions\/(reductions) to other short-term debt<\/td>857 <\/td><\/td><\/td>(3,319)<\/td><\/td><\/td>917 <\/td><\/td><\/tr>
Additions to long-term debt<\/td>3,197 <\/td><\/td><\/td>3,997 <\/td><\/td><\/td>4,385 <\/td><\/td><\/tr>
Reductions in long-term debt<\/td>(2,335)<\/td><\/td><\/td>(1,878)<\/td><\/td><\/td>(2,343)<\/td><\/td><\/tr>
Treasury stock purchases<\/td>(5,006)<\/td><\/td><\/td>(7,353)<\/td><\/td><\/td>(10,003)<\/td><\/td><\/tr>
Impact of stock options and other<\/td>1,905 <\/td><\/td><\/td>1,269 <\/td><\/td><\/td>2,005 <\/td><\/td><\/tr>
TOTAL FINANCING ACTIVITIES<\/td>(14,855)<\/td><\/td><\/td>(12,146)<\/td><\/td><\/td>(14,876)<\/td><\/td><\/tr>
EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH<\/td>(251)<\/td><\/td><\/td>(170)<\/td><\/td><\/td>(497)<\/td><\/td><\/tr>
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH<\/td>1,235 <\/td><\/td><\/td>1,032 <\/td><\/td><\/td>(3,074)<\/td><\/td><\/tr>
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/td>$<\/td>7,214 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
SUPPLEMENTAL DISCLOSURE<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash payments for interest<\/td>$<\/td>878 <\/td><\/td><\/td>$<\/td>721 <\/td><\/td><\/td>$<\/td>451 <\/td><\/td><\/tr>
Cash payments for income taxes<\/td>4,363 <\/td><\/td><\/td>4,278 <\/td><\/td><\/td>3,818 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 39\n\n\n\nConsolidated Statements of Cash Flows\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR<\/td>$<\/td>8,246 <\/td><\/td><\/td>$<\/td>7,214 <\/td><\/td><\/td>$<\/td>10,288 <\/td><\/td><\/tr>
OPERATING ACTIVITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>2,896 <\/td><\/td><\/td>2,714 <\/td><\/td><\/td>2,807 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Share-based compensation expense<\/td>562 <\/td><\/td><\/td>545 <\/td><\/td><\/td>528 <\/td><\/td><\/tr>
Deferred income taxes<\/td>(244)<\/td><\/td><\/td>(453)<\/td><\/td><\/td>(402)<\/td><\/td><\/tr>
Loss\/(gain) on sale of assets<\/td>(215)<\/td><\/td><\/td>(40)<\/td><\/td><\/td>(85)<\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in accounts receivable<\/td>(766)<\/td><\/td><\/td>(307)<\/td><\/td><\/td>(694)<\/td><\/td><\/tr>
Change in inventories<\/td>(70)<\/td><\/td><\/td>(119)<\/td><\/td><\/td>(1,247)<\/td><\/td><\/tr>
Change in accounts payable and accrued and other liabilities<\/td>1,814 <\/td><\/td><\/td>313 <\/td><\/td><\/td>1,429 <\/td><\/td><\/tr>
Change in other operating assets and liabilities<\/td>(1,414)<\/td><\/td><\/td>(1,107)<\/td><\/td><\/td>(635)<\/td><\/td><\/tr>
Other<\/td>969 <\/td><\/td><\/td>564 <\/td><\/td><\/td>229 <\/td><\/td><\/tr>
TOTAL OPERATING ACTIVITIES<\/td>19,846 <\/td><\/td><\/td>16,848 <\/td><\/td><\/td>16,723 <\/td><\/td><\/tr>
INVESTING ACTIVITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Capital expenditures<\/td>(3,322)<\/td><\/td><\/td>(3,062)<\/td><\/td><\/td>(3,156)<\/td><\/td><\/tr>
Proceeds from asset sales<\/td>346 <\/td><\/td><\/td>46 <\/td><\/td><\/td>110 <\/td><\/td><\/tr>
Acquisitions, net of cash acquired<\/td>(21)<\/td><\/td><\/td>(765)<\/td><\/td><\/td>(1,381)<\/td><\/td><\/tr>
Other investing activity<\/td>(507)<\/td><\/td><\/td>281 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
TOTAL INVESTING ACTIVITIES<\/td>(3,504)<\/td><\/td><\/td>(3,500)<\/td><\/td><\/td>(4,424)<\/td><\/td><\/tr>
FINANCING ACTIVITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Dividends to shareholders<\/td>(9,312)<\/td><\/td><\/td>(8,999)<\/td><\/td><\/td>(8,770)<\/td><\/td><\/tr>
Additions to short-term debt with original maturities of more than three months<\/td>3,528 <\/td><\/td><\/td>17,168 <\/td><\/td><\/td>10,411 <\/td><\/td><\/tr>
Reductions in short-term debt with original maturities of more than three months<\/td>(7,689)<\/td><\/td><\/td>(13,031)<\/td><\/td><\/td>(11,478)<\/td><\/td><\/tr>
Net additions\/(reductions) to other short-term debt<\/td>857 <\/td><\/td><\/td>(3,319)<\/td><\/td><\/td>917 <\/td><\/td><\/tr>
Additions to long-term debt<\/td>3,197 <\/td><\/td><\/td>3,997 <\/td><\/td><\/td>4,385 <\/td><\/td><\/tr>
Reductions in long-term debt<\/td>(2,335)<\/td><\/td><\/td>(1,878)<\/td><\/td><\/td>(2,343)<\/td><\/td><\/tr>
Treasury stock purchases<\/td>(5,006)<\/td><\/td><\/td>(7,353)<\/td><\/td><\/td>(10,003)<\/td><\/td><\/tr>
Impact of stock options and other<\/td>1,905 <\/td><\/td><\/td>1,269 <\/td><\/td><\/td>2,005 <\/td><\/td><\/tr>
TOTAL FINANCING ACTIVITIES<\/td>(14,855)<\/td><\/td><\/td>(12,146)<\/td><\/td><\/td>(14,876)<\/td><\/td><\/tr>
EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH<\/td>(251)<\/td><\/td><\/td>(170)<\/td><\/td><\/td>(497)<\/td><\/td><\/tr>
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH<\/td>1,235 <\/td><\/td><\/td>1,032 <\/td><\/td><\/td>(3,074)<\/td><\/td><\/tr>
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/td>$<\/td>7,214 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
SUPPLEMENTAL DISCLOSURE<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash payments for interest<\/td>$<\/td>878 <\/td><\/td><\/td>$<\/td>721 <\/td><\/td><\/td>$<\/td>451 <\/td><\/td><\/tr>
Cash payments for income taxes<\/td>4,363 <\/td><\/td><\/td>4,278 <\/td><\/td><\/td>3,818 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n"} +{"QID":"q_Ra024","Question":"What is Procter & Gamble's Return on Assets for 2024, and how does it compare to 2023?","ground_truth_answer":"ROA is Net Earnings divided by Average Total Assets. \nFor 2024:\nAverage Total Assets = ($120,829 million (2023) + $122,370 million (2024)) \/ 2 = $121,599.5 million\nROA = $14,974 million \/ $121,599.5 million = 12.3%\nFor 2023:\nROA = $14,738 million \/ $120,829 million = 12.2%","question_type":"Ratio","page_number":"36, 37","accession_number":"0000080424-24-000083","item":"Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 37: \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------|:----------|:--------|:-----|:----------|:---|:--------|\n| 1 | Amounts in millions except stated values; as of June 30 | 2024 | | 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | CURRENT ASSETS | | | | | | |\n| 4 | Cash and cash equivalents | $ | 9,482 | | | $ | 8,246 |\n| 5 | Accounts receivable | 6,118 | | | 5,471 | | |\n| 6 | INVENTORIES | | | | | | |\n| 7 | Materials and supplies | 1,617 | | | 1,863 | | |\n| 8 | Work in process | 929 | | | 956 | | |\n| 9 | Finished goods | 4,470 | | | 4,254 | | |\n| 10 | Total inventories | 7,016 | | | 7,073 | | |\n| 11 | Prepaid expenses and other current assets | 2,095 | | | 1,858 | | |\n| 12 | TOTAL CURRENT ASSETS | 24,709 | | | 22,648 | | |\n| 13 | PROPERTY, PLANT AND EQUIPMENT, NET | 22,152 | | | 21,909 | | |\n| 14 | GOODWILL | 40,303 | | | 40,659 | | |\n| 15 | TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET | 22,047 | | | 23,783 | | |\n| 16 | OTHER NONCURRENT ASSETS | 13,158 | | | 11,830 | | |\n| 17 | TOTAL ASSETS | $ | 122,370 | | | $ | 120,829 |\n| 19 | Liabilities and Shareholders' Equity | | | | | | |\n| 20 | CURRENT LIABILITIES | | | | | | |\n| 21 | Accounts payable | $ | 15,364 | | | $ | 14,598 |\n| 22 | Accrued and other liabilities | 11,073 | | | 10,929 | | |\n| 23 | Debt due within one year | 7,191 | | | 10,229 | | |\n| 24 | TOTAL CURRENT LIABILITIES | 33,627 | | | 35,756 | | |\n| 25 | LONG-TERM DEBT | 25,269 | | | 24,378 | | |\n| 26 | DEFERRED INCOME TAXES | 6,516 | | | 6,478 | | |\n| 27 | OTHER NONCURRENT LIABILITIES | 6,398 | | | 7,152 | | |\n| 28 | TOTAL LIABILITIES | 71,811 | | | 73,764 | | |\n| 29 | SHAREHOLDERS' EQUITY | | | | | | |\n| 30 | Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) | 798 | | | 819 | | |\n| 31 | Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) | - | | | - | | |\n| 32 | Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2) | 4,009 | | | 4,009 | | |\n| 33 | Additional paid-in capital | 67,684 | | | 66,556 | | |\n| 34 | Reserve for ESOP debt retirement | (737) | | | (821) | | |\n| 35 | Accumulated other comprehensive loss | (11,900) | | | (12,220) | | |\n| 36 | Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1) | (133,379) | | | (129,736) | | |\n| 37 | Retained earnings | 123,811 | | | 118,170 | | |\n| 38 | Noncontrolling interest | 272 | | | 288 | | |\n| 39 | TOTAL SHAREHOLDERS' EQUITY | 50,559 | | | 47,065 | | |\n| 40 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 122,370 | | | $ | 120,829 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_markdown_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------|:----------|:--------|:-----|:----------|:---|:--------|\n| 1 | Amounts in millions except stated values; as of June 30 | 2024 | | 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | CURRENT ASSETS | | | | | | |\n| 4 | Cash and cash equivalents | $ | 9,482 | | | $ | 8,246 |\n| 5 | Accounts receivable | 6,118 | | | 5,471 | | |\n| 6 | INVENTORIES | | | | | | |\n| 7 | Materials and supplies | 1,617 | | | 1,863 | | |\n| 8 | Work in process | 929 | | | 956 | | |\n| 9 | Finished goods | 4,470 | | | 4,254 | | |\n| 10 | Total inventories | 7,016 | | | 7,073 | | |\n| 11 | Prepaid expenses and other current assets | 2,095 | | | 1,858 | | |\n| 12 | TOTAL CURRENT ASSETS | 24,709 | | | 22,648 | | |\n| 13 | PROPERTY, PLANT AND EQUIPMENT, NET | 22,152 | | | 21,909 | | |\n| 14 | GOODWILL | 40,303 | | | 40,659 | | |\n| 15 | TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET | 22,047 | | | 23,783 | | |\n| 16 | OTHER NONCURRENT ASSETS | 13,158 | | | 11,830 | | |\n| 17 | TOTAL ASSETS | $ | 122,370 | | | $ | 120,829 |\n| 19 | Liabilities and Shareholders' Equity | | | | | | |\n| 20 | CURRENT LIABILITIES | | | | | | |\n| 21 | Accounts payable | $ | 15,364 | | | $ | 14,598 |\n| 22 | Accrued and other liabilities | 11,073 | | | 10,929 | | |\n| 23 | Debt due within one year | 7,191 | | | 10,229 | | |\n| 24 | TOTAL CURRENT LIABILITIES | 33,627 | | | 35,756 | | |\n| 25 | LONG-TERM DEBT | 25,269 | | | 24,378 | | |\n| 26 | DEFERRED INCOME TAXES | 6,516 | | | 6,478 | | |\n| 27 | OTHER NONCURRENT LIABILITIES | 6,398 | | | 7,152 | | |\n| 28 | TOTAL LIABILITIES | 71,811 | | | 73,764 | | |\n| 29 | SHAREHOLDERS' EQUITY | | | | | | |\n| 30 | Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) | 798 | | | 819 | | |\n| 31 | Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) | - | | | - | | |\n| 32 | Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2) | 4,009 | | | 4,009 | | |\n| 33 | Additional paid-in capital | 67,684 | | | 66,556 | | |\n| 34 | Reserve for ESOP debt retirement | (737) | | | (821) | | |\n| 35 | Accumulated other comprehensive loss | (11,900) | | | (12,220) | | |\n| 36 | Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1) | (133,379) | | | (129,736) | | |\n| 37 | Retained earnings | 123,811 | | | 118,170 | | |\n| 38 | Noncontrolling interest | 272 | | | 288 | | |\n| 39 | TOTAL SHAREHOLDERS' EQUITY | 50,559 | | | 47,065 | | |\n| 40 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 122,370 | | | $ | 120,829 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 37: \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except stated values; as of June 30<\/td>2024<\/td><\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
CURRENT ASSETS<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/tr>
Accounts receivable<\/td>6,118 <\/td><\/td><\/td>5,471 <\/td><\/td><\/tr>
INVENTORIES<\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td>1,617 <\/td><\/td><\/td>1,863 <\/td><\/td><\/tr>
Work in process<\/td>929 <\/td><\/td><\/td>956 <\/td><\/td><\/tr>
Finished goods<\/td>4,470 <\/td><\/td><\/td>4,254 <\/td><\/td><\/tr>
Total inventories<\/td>7,016 <\/td><\/td><\/td>7,073 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>2,095 <\/td><\/td><\/td>1,858 <\/td><\/td><\/tr>
TOTAL CURRENT ASSETS<\/td>24,709 <\/td><\/td><\/td>22,648 <\/td><\/td><\/tr>
PROPERTY, PLANT AND EQUIPMENT, NET<\/td>22,152 <\/td><\/td><\/td>21,909 <\/td><\/td><\/tr>
GOODWILL<\/td>40,303 <\/td><\/td><\/td>40,659 <\/td><\/td><\/tr>
TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET<\/td>22,047 <\/td><\/td><\/td>23,783 <\/td><\/td><\/tr>
OTHER NONCURRENT ASSETS<\/td>13,158 <\/td><\/td><\/td>11,830 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
CURRENT LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>15,364 <\/td><\/td><\/td>$<\/td>14,598 <\/td><\/td><\/tr>
Accrued and other liabilities<\/td>11,073 <\/td><\/td><\/td>10,929 <\/td><\/td><\/tr>
Debt due within one year<\/td>7,191 <\/td><\/td><\/td>10,229 <\/td><\/td><\/tr>
TOTAL CURRENT LIABILITIES<\/td>33,627 <\/td><\/td><\/td>35,756 <\/td><\/td><\/tr>
LONG-TERM DEBT<\/td>25,269 <\/td><\/td><\/td>24,378 <\/td><\/td><\/tr>
DEFERRED INCOME TAXES<\/td>6,516 <\/td><\/td><\/td>6,478 <\/td><\/td><\/tr>
OTHER NONCURRENT LIABILITIES<\/td>6,398 <\/td><\/td><\/td>7,152 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td>71,811 <\/td><\/td><\/td>73,764 <\/td><\/td><\/tr>
SHAREHOLDERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Convertible Class A preferred stock, stated value $1 per share (600 shares authorized)<\/td>798 <\/td><\/td><\/td>819 <\/td><\/td><\/tr>
Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized)<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2)<\/td>4,009 <\/td><\/td><\/td>4,009 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>67,684 <\/td><\/td><\/td>66,556 <\/td><\/td><\/tr>
Reserve for ESOP debt retirement<\/td>(737)<\/td><\/td><\/td>(821)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,900)<\/td><\/td><\/td>(12,220)<\/td><\/td><\/tr>
Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1)<\/td>(133,379)<\/td><\/td><\/td>(129,736)<\/td><\/td><\/tr>
Retained earnings<\/td>123,811 <\/td><\/td><\/td>118,170 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>272 <\/td><\/td><\/td>288 <\/td><\/td><\/tr>
TOTAL SHAREHOLDERS' EQUITY<\/td>50,559 <\/td><\/td><\/td>47,065 <\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except stated values; as of June 30<\/td>2024<\/td><\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
CURRENT ASSETS<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/tr>
Accounts receivable<\/td>6,118 <\/td><\/td><\/td>5,471 <\/td><\/td><\/tr>
INVENTORIES<\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td>1,617 <\/td><\/td><\/td>1,863 <\/td><\/td><\/tr>
Work in process<\/td>929 <\/td><\/td><\/td>956 <\/td><\/td><\/tr>
Finished goods<\/td>4,470 <\/td><\/td><\/td>4,254 <\/td><\/td><\/tr>
Total inventories<\/td>7,016 <\/td><\/td><\/td>7,073 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>2,095 <\/td><\/td><\/td>1,858 <\/td><\/td><\/tr>
TOTAL CURRENT ASSETS<\/td>24,709 <\/td><\/td><\/td>22,648 <\/td><\/td><\/tr>
PROPERTY, PLANT AND EQUIPMENT, NET<\/td>22,152 <\/td><\/td><\/td>21,909 <\/td><\/td><\/tr>
GOODWILL<\/td>40,303 <\/td><\/td><\/td>40,659 <\/td><\/td><\/tr>
TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET<\/td>22,047 <\/td><\/td><\/td>23,783 <\/td><\/td><\/tr>
OTHER NONCURRENT ASSETS<\/td>13,158 <\/td><\/td><\/td>11,830 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
CURRENT LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>15,364 <\/td><\/td><\/td>$<\/td>14,598 <\/td><\/td><\/tr>
Accrued and other liabilities<\/td>11,073 <\/td><\/td><\/td>10,929 <\/td><\/td><\/tr>
Debt due within one year<\/td>7,191 <\/td><\/td><\/td>10,229 <\/td><\/td><\/tr>
TOTAL CURRENT LIABILITIES<\/td>33,627 <\/td><\/td><\/td>35,756 <\/td><\/td><\/tr>
LONG-TERM DEBT<\/td>25,269 <\/td><\/td><\/td>24,378 <\/td><\/td><\/tr>
DEFERRED INCOME TAXES<\/td>6,516 <\/td><\/td><\/td>6,478 <\/td><\/td><\/tr>
OTHER NONCURRENT LIABILITIES<\/td>6,398 <\/td><\/td><\/td>7,152 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td>71,811 <\/td><\/td><\/td>73,764 <\/td><\/td><\/tr>
SHAREHOLDERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Convertible Class A preferred stock, stated value $1 per share (600 shares authorized)<\/td>798 <\/td><\/td><\/td>819 <\/td><\/td><\/tr>
Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized)<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2)<\/td>4,009 <\/td><\/td><\/td>4,009 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>67,684 <\/td><\/td><\/td>66,556 <\/td><\/td><\/tr>
Reserve for ESOP debt retirement<\/td>(737)<\/td><\/td><\/td>(821)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,900)<\/td><\/td><\/td>(12,220)<\/td><\/td><\/tr>
Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1)<\/td>(133,379)<\/td><\/td><\/td>(129,736)<\/td><\/td><\/tr>
Retained earnings<\/td>123,811 <\/td><\/td><\/td>118,170 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>272 <\/td><\/td><\/td>288 <\/td><\/td><\/tr>
TOTAL SHAREHOLDERS' EQUITY<\/td>50,559 <\/td><\/td><\/td>47,065 <\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n"} +{"QID":"q_Ra025","Question":"What is the Return on Capital Employed for 2024, and how does it compare to 2023?","ground_truth_answer":"ROCE is Operating Income divided by Capital Employed.\nFor 2024:\nCapital Employed = Total Assets - Current Liabilities = $122,370 million - $33,627 million = $88,743 million\nROCE = $18,545 million \/ $88,743 million = 20.9%\nFor 2023:\nCapital Employed = $120,829 million - $35,756 million = $85,073 million\nROCE = $18,134 million \/ $85,073 million = 21.3%\n","question_type":"Ratio","page_number":"36, 37","accession_number":"0000080424-24-000083","item":"Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 37: \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------|:----------|:--------|:-----|:----------|:---|:--------|\n| 1 | Amounts in millions except stated values; as of June 30 | 2024 | | 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | CURRENT ASSETS | | | | | | |\n| 4 | Cash and cash equivalents | $ | 9,482 | | | $ | 8,246 |\n| 5 | Accounts receivable | 6,118 | | | 5,471 | | |\n| 6 | INVENTORIES | | | | | | |\n| 7 | Materials and supplies | 1,617 | | | 1,863 | | |\n| 8 | Work in process | 929 | | | 956 | | |\n| 9 | Finished goods | 4,470 | | | 4,254 | | |\n| 10 | Total inventories | 7,016 | | | 7,073 | | |\n| 11 | Prepaid expenses and other current assets | 2,095 | | | 1,858 | | |\n| 12 | TOTAL CURRENT ASSETS | 24,709 | | | 22,648 | | |\n| 13 | PROPERTY, PLANT AND EQUIPMENT, NET | 22,152 | | | 21,909 | | |\n| 14 | GOODWILL | 40,303 | | | 40,659 | | |\n| 15 | TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET | 22,047 | | | 23,783 | | |\n| 16 | OTHER NONCURRENT ASSETS | 13,158 | | | 11,830 | | |\n| 17 | TOTAL ASSETS | $ | 122,370 | | | $ | 120,829 |\n| 19 | Liabilities and Shareholders' Equity | | | | | | |\n| 20 | CURRENT LIABILITIES | | | | | | |\n| 21 | Accounts payable | $ | 15,364 | | | $ | 14,598 |\n| 22 | Accrued and other liabilities | 11,073 | | | 10,929 | | |\n| 23 | Debt due within one year | 7,191 | | | 10,229 | | |\n| 24 | TOTAL CURRENT LIABILITIES | 33,627 | | | 35,756 | | |\n| 25 | LONG-TERM DEBT | 25,269 | | | 24,378 | | |\n| 26 | DEFERRED INCOME TAXES | 6,516 | | | 6,478 | | |\n| 27 | OTHER NONCURRENT LIABILITIES | 6,398 | | | 7,152 | | |\n| 28 | TOTAL LIABILITIES | 71,811 | | | 73,764 | | |\n| 29 | SHAREHOLDERS' EQUITY | | | | | | |\n| 30 | Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) | 798 | | | 819 | | |\n| 31 | Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) | - | | | - | | |\n| 32 | Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2) | 4,009 | | | 4,009 | | |\n| 33 | Additional paid-in capital | 67,684 | | | 66,556 | | |\n| 34 | Reserve for ESOP debt retirement | (737) | | | (821) | | |\n| 35 | Accumulated other comprehensive loss | (11,900) | | | (12,220) | | |\n| 36 | Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1) | (133,379) | | | (129,736) | | |\n| 37 | Retained earnings | 123,811 | | | 118,170 | | |\n| 38 | Noncontrolling interest | 272 | | | 288 | | |\n| 39 | TOTAL SHAREHOLDERS' EQUITY | 50,559 | | | 47,065 | | |\n| 40 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 122,370 | | | $ | 120,829 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_markdown_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------|:----------|:--------|:-----|:----------|:---|:--------|\n| 1 | Amounts in millions except stated values; as of June 30 | 2024 | | 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | CURRENT ASSETS | | | | | | |\n| 4 | Cash and cash equivalents | $ | 9,482 | | | $ | 8,246 |\n| 5 | Accounts receivable | 6,118 | | | 5,471 | | |\n| 6 | INVENTORIES | | | | | | |\n| 7 | Materials and supplies | 1,617 | | | 1,863 | | |\n| 8 | Work in process | 929 | | | 956 | | |\n| 9 | Finished goods | 4,470 | | | 4,254 | | |\n| 10 | Total inventories | 7,016 | | | 7,073 | | |\n| 11 | Prepaid expenses and other current assets | 2,095 | | | 1,858 | | |\n| 12 | TOTAL CURRENT ASSETS | 24,709 | | | 22,648 | | |\n| 13 | PROPERTY, PLANT AND EQUIPMENT, NET | 22,152 | | | 21,909 | | |\n| 14 | GOODWILL | 40,303 | | | 40,659 | | |\n| 15 | TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET | 22,047 | | | 23,783 | | |\n| 16 | OTHER NONCURRENT ASSETS | 13,158 | | | 11,830 | | |\n| 17 | TOTAL ASSETS | $ | 122,370 | | | $ | 120,829 |\n| 19 | Liabilities and Shareholders' Equity | | | | | | |\n| 20 | CURRENT LIABILITIES | | | | | | |\n| 21 | Accounts payable | $ | 15,364 | | | $ | 14,598 |\n| 22 | Accrued and other liabilities | 11,073 | | | 10,929 | | |\n| 23 | Debt due within one year | 7,191 | | | 10,229 | | |\n| 24 | TOTAL CURRENT LIABILITIES | 33,627 | | | 35,756 | | |\n| 25 | LONG-TERM DEBT | 25,269 | | | 24,378 | | |\n| 26 | DEFERRED INCOME TAXES | 6,516 | | | 6,478 | | |\n| 27 | OTHER NONCURRENT LIABILITIES | 6,398 | | | 7,152 | | |\n| 28 | TOTAL LIABILITIES | 71,811 | | | 73,764 | | |\n| 29 | SHAREHOLDERS' EQUITY | | | | | | |\n| 30 | Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) | 798 | | | 819 | | |\n| 31 | Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) | - | | | - | | |\n| 32 | Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2) | 4,009 | | | 4,009 | | |\n| 33 | Additional paid-in capital | 67,684 | | | 66,556 | | |\n| 34 | Reserve for ESOP debt retirement | (737) | | | (821) | | |\n| 35 | Accumulated other comprehensive loss | (11,900) | | | (12,220) | | |\n| 36 | Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1) | (133,379) | | | (129,736) | | |\n| 37 | Retained earnings | 123,811 | | | 118,170 | | |\n| 38 | Noncontrolling interest | 272 | | | 288 | | |\n| 39 | TOTAL SHAREHOLDERS' EQUITY | 50,559 | | | 47,065 | | |\n| 40 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 122,370 | | | $ | 120,829 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 37: \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except stated values; as of June 30<\/td>2024<\/td><\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
CURRENT ASSETS<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/tr>
Accounts receivable<\/td>6,118 <\/td><\/td><\/td>5,471 <\/td><\/td><\/tr>
INVENTORIES<\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td>1,617 <\/td><\/td><\/td>1,863 <\/td><\/td><\/tr>
Work in process<\/td>929 <\/td><\/td><\/td>956 <\/td><\/td><\/tr>
Finished goods<\/td>4,470 <\/td><\/td><\/td>4,254 <\/td><\/td><\/tr>
Total inventories<\/td>7,016 <\/td><\/td><\/td>7,073 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>2,095 <\/td><\/td><\/td>1,858 <\/td><\/td><\/tr>
TOTAL CURRENT ASSETS<\/td>24,709 <\/td><\/td><\/td>22,648 <\/td><\/td><\/tr>
PROPERTY, PLANT AND EQUIPMENT, NET<\/td>22,152 <\/td><\/td><\/td>21,909 <\/td><\/td><\/tr>
GOODWILL<\/td>40,303 <\/td><\/td><\/td>40,659 <\/td><\/td><\/tr>
TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET<\/td>22,047 <\/td><\/td><\/td>23,783 <\/td><\/td><\/tr>
OTHER NONCURRENT ASSETS<\/td>13,158 <\/td><\/td><\/td>11,830 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
CURRENT LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>15,364 <\/td><\/td><\/td>$<\/td>14,598 <\/td><\/td><\/tr>
Accrued and other liabilities<\/td>11,073 <\/td><\/td><\/td>10,929 <\/td><\/td><\/tr>
Debt due within one year<\/td>7,191 <\/td><\/td><\/td>10,229 <\/td><\/td><\/tr>
TOTAL CURRENT LIABILITIES<\/td>33,627 <\/td><\/td><\/td>35,756 <\/td><\/td><\/tr>
LONG-TERM DEBT<\/td>25,269 <\/td><\/td><\/td>24,378 <\/td><\/td><\/tr>
DEFERRED INCOME TAXES<\/td>6,516 <\/td><\/td><\/td>6,478 <\/td><\/td><\/tr>
OTHER NONCURRENT LIABILITIES<\/td>6,398 <\/td><\/td><\/td>7,152 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td>71,811 <\/td><\/td><\/td>73,764 <\/td><\/td><\/tr>
SHAREHOLDERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Convertible Class A preferred stock, stated value $1 per share (600 shares authorized)<\/td>798 <\/td><\/td><\/td>819 <\/td><\/td><\/tr>
Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized)<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2)<\/td>4,009 <\/td><\/td><\/td>4,009 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>67,684 <\/td><\/td><\/td>66,556 <\/td><\/td><\/tr>
Reserve for ESOP debt retirement<\/td>(737)<\/td><\/td><\/td>(821)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,900)<\/td><\/td><\/td>(12,220)<\/td><\/td><\/tr>
Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1)<\/td>(133,379)<\/td><\/td><\/td>(129,736)<\/td><\/td><\/tr>
Retained earnings<\/td>123,811 <\/td><\/td><\/td>118,170 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>272 <\/td><\/td><\/td>288 <\/td><\/td><\/tr>
TOTAL SHAREHOLDERS' EQUITY<\/td>50,559 <\/td><\/td><\/td>47,065 <\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except stated values; as of June 30<\/td>2024<\/td><\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
CURRENT ASSETS<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/tr>
Accounts receivable<\/td>6,118 <\/td><\/td><\/td>5,471 <\/td><\/td><\/tr>
INVENTORIES<\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td>1,617 <\/td><\/td><\/td>1,863 <\/td><\/td><\/tr>
Work in process<\/td>929 <\/td><\/td><\/td>956 <\/td><\/td><\/tr>
Finished goods<\/td>4,470 <\/td><\/td><\/td>4,254 <\/td><\/td><\/tr>
Total inventories<\/td>7,016 <\/td><\/td><\/td>7,073 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>2,095 <\/td><\/td><\/td>1,858 <\/td><\/td><\/tr>
TOTAL CURRENT ASSETS<\/td>24,709 <\/td><\/td><\/td>22,648 <\/td><\/td><\/tr>
PROPERTY, PLANT AND EQUIPMENT, NET<\/td>22,152 <\/td><\/td><\/td>21,909 <\/td><\/td><\/tr>
GOODWILL<\/td>40,303 <\/td><\/td><\/td>40,659 <\/td><\/td><\/tr>
TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET<\/td>22,047 <\/td><\/td><\/td>23,783 <\/td><\/td><\/tr>
OTHER NONCURRENT ASSETS<\/td>13,158 <\/td><\/td><\/td>11,830 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
CURRENT LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>15,364 <\/td><\/td><\/td>$<\/td>14,598 <\/td><\/td><\/tr>
Accrued and other liabilities<\/td>11,073 <\/td><\/td><\/td>10,929 <\/td><\/td><\/tr>
Debt due within one year<\/td>7,191 <\/td><\/td><\/td>10,229 <\/td><\/td><\/tr>
TOTAL CURRENT LIABILITIES<\/td>33,627 <\/td><\/td><\/td>35,756 <\/td><\/td><\/tr>
LONG-TERM DEBT<\/td>25,269 <\/td><\/td><\/td>24,378 <\/td><\/td><\/tr>
DEFERRED INCOME TAXES<\/td>6,516 <\/td><\/td><\/td>6,478 <\/td><\/td><\/tr>
OTHER NONCURRENT LIABILITIES<\/td>6,398 <\/td><\/td><\/td>7,152 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td>71,811 <\/td><\/td><\/td>73,764 <\/td><\/td><\/tr>
SHAREHOLDERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Convertible Class A preferred stock, stated value $1 per share (600 shares authorized)<\/td>798 <\/td><\/td><\/td>819 <\/td><\/td><\/tr>
Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized)<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2)<\/td>4,009 <\/td><\/td><\/td>4,009 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>67,684 <\/td><\/td><\/td>66,556 <\/td><\/td><\/tr>
Reserve for ESOP debt retirement<\/td>(737)<\/td><\/td><\/td>(821)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,900)<\/td><\/td><\/td>(12,220)<\/td><\/td><\/tr>
Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1)<\/td>(133,379)<\/td><\/td><\/td>(129,736)<\/td><\/td><\/tr>
Retained earnings<\/td>123,811 <\/td><\/td><\/td>118,170 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>272 <\/td><\/td><\/td>288 <\/td><\/td><\/tr>
TOTAL SHAREHOLDERS' EQUITY<\/td>50,559 <\/td><\/td><\/td>47,065 <\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n"} +{"QID":"q_Ra026","Question":"What is the Free Cash Flow to Sales Ratio for 2024, and how does it compare to 2023?","ground_truth_answer":"Free Cash Flow to Sales Ratio is Free Cash Flow divided by Net Sales.\nFor 2024:\nFree Cash Flow = Net Cash from Operating Activities - Capital Expenditures = $19,846 million - $3,322 million = $16,524 million\nNet Sales = $84,039 million\nFree Cash Flow to Sales Ratio = $16,524 million \/ $84,039 million = 19.6%\nFor 2023:\nFree Cash Flow = $16,848 million - $3,062 million = $13,786 million\nNet Sales = $82,006 million\nFree Cash Flow to Sales Ratio = $13,786 million \/ $82,006 million = 16.8%\n","question_type":"Ratio","page_number":"36, 39","accession_number":"0000080424-24-000083","item":"Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 39: \nThe Procter & Gamble Company 39\n\n\n\nConsolidated Statements of Cash Flows\n| | | | | | | | | | | |\n|---:|:---------------------------------------------------------------------------------|:---------|:------|:-----|:---------|:-----|:------|:---------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR | $ | 8,246 | | | $ | 7,214 | | $ | 10,288 |\n| 3 | OPERATING ACTIVITIES | | | | | | | | | |\n| 4 | Net earnings | 14,974 | | | 14,738 | | | 14,793 | | |\n| 5 | Depreciation and amortization | 2,896 | | | 2,714 | | | 2,807 | | |\n| 7 | Share-based compensation expense | 562 | | | 545 | | | 528 | | |\n| 8 | Deferred income taxes | (244) | | | (453) | | | (402) | | |\n| 9 | Loss\/(gain) on sale of assets | (215) | | | (40) | | | (85) | | |\n| 10 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 12 | Change in accounts receivable | (766) | | | (307) | | | (694) | | |\n| 13 | Change in inventories | (70) | | | (119) | | | (1,247) | | |\n| 14 | Change in accounts payable and accrued and other liabilities | 1,814 | | | 313 | | | 1,429 | | |\n| 15 | Change in other operating assets and liabilities | (1,414) | | | (1,107) | | | (635) | | |\n| 16 | Other | 969 | | | 564 | | | 229 | | |\n| 17 | TOTAL OPERATING ACTIVITIES | 19,846 | | | 16,848 | | | 16,723 | | |\n| 18 | INVESTING ACTIVITIES | | | | | | | | | |\n| 19 | Capital expenditures | (3,322) | | | (3,062) | | | (3,156) | | |\n| 20 | Proceeds from asset sales | 346 | | | 46 | | | 110 | | |\n| 21 | Acquisitions, net of cash acquired | (21) | | | (765) | | | (1,381) | | |\n| 22 | Other investing activity | (507) | | | 281 | | | 3 | | |\n| 23 | TOTAL INVESTING ACTIVITIES | (3,504) | | | (3,500) | | | (4,424) | | |\n| 24 | FINANCING ACTIVITIES | | | | | | | | | |\n| 25 | Dividends to shareholders | (9,312) | | | (8,999) | | | (8,770) | | |\n| 26 | Additions to short-term debt with original maturities of more than three months | 3,528 | | | 17,168 | | | 10,411 | | |\n| 27 | Reductions in short-term debt with original maturities of more than three months | (7,689) | | | (13,031) | | | (11,478) | | |\n| 28 | Net additions\/(reductions) to other short-term debt | 857 | | | (3,319) | | | 917 | | |\n| 29 | Additions to long-term debt | 3,197 | | | 3,997 | | | 4,385 | | |\n| 30 | Reductions in long-term debt | (2,335) | | | (1,878) | | | (2,343) | | |\n| 31 | Treasury stock purchases | (5,006) | | | (7,353) | | | (10,003) | | |\n| 32 | Impact of stock options and other | 1,905 | | | 1,269 | | | 2,005 | | |\n| 33 | TOTAL FINANCING ACTIVITIES | (14,855) | | | (12,146) | | | (14,876) | | |\n| 34 | EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (251) | | | (170) | | | (497) | | |\n| 35 | CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 1,235 | | | 1,032 | | | (3,074) | | |\n| 36 | CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR | $ | 9,482 | | | $ | 8,246 | | $ | 7,214 |\n| 38 | SUPPLEMENTAL DISCLOSURE | | | | | | | | | |\n| 39 | Cash payments for interest | $ | 878 | | | $ | 721 | | $ | 451 |\n| 40 | Cash payments for income taxes | 4,363 | | | 4,278 | | | 3,818 | | |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_markdown_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 39\n\n\n\nConsolidated Statements of Cash Flows\n| | | | | | | | | | | |\n|---:|:---------------------------------------------------------------------------------|:---------|:------|:-----|:---------|:-----|:------|:---------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR | $ | 8,246 | | | $ | 7,214 | | $ | 10,288 |\n| 3 | OPERATING ACTIVITIES | | | | | | | | | |\n| 4 | Net earnings | 14,974 | | | 14,738 | | | 14,793 | | |\n| 5 | Depreciation and amortization | 2,896 | | | 2,714 | | | 2,807 | | |\n| 7 | Share-based compensation expense | 562 | | | 545 | | | 528 | | |\n| 8 | Deferred income taxes | (244) | | | (453) | | | (402) | | |\n| 9 | Loss\/(gain) on sale of assets | (215) | | | (40) | | | (85) | | |\n| 10 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 12 | Change in accounts receivable | (766) | | | (307) | | | (694) | | |\n| 13 | Change in inventories | (70) | | | (119) | | | (1,247) | | |\n| 14 | Change in accounts payable and accrued and other liabilities | 1,814 | | | 313 | | | 1,429 | | |\n| 15 | Change in other operating assets and liabilities | (1,414) | | | (1,107) | | | (635) | | |\n| 16 | Other | 969 | | | 564 | | | 229 | | |\n| 17 | TOTAL OPERATING ACTIVITIES | 19,846 | | | 16,848 | | | 16,723 | | |\n| 18 | INVESTING ACTIVITIES | | | | | | | | | |\n| 19 | Capital expenditures | (3,322) | | | (3,062) | | | (3,156) | | |\n| 20 | Proceeds from asset sales | 346 | | | 46 | | | 110 | | |\n| 21 | Acquisitions, net of cash acquired | (21) | | | (765) | | | (1,381) | | |\n| 22 | Other investing activity | (507) | | | 281 | | | 3 | | |\n| 23 | TOTAL INVESTING ACTIVITIES | (3,504) | | | (3,500) | | | (4,424) | | |\n| 24 | FINANCING ACTIVITIES | | | | | | | | | |\n| 25 | Dividends to shareholders | (9,312) | | | (8,999) | | | (8,770) | | |\n| 26 | Additions to short-term debt with original maturities of more than three months | 3,528 | | | 17,168 | | | 10,411 | | |\n| 27 | Reductions in short-term debt with original maturities of more than three months | (7,689) | | | (13,031) | | | (11,478) | | |\n| 28 | Net additions\/(reductions) to other short-term debt | 857 | | | (3,319) | | | 917 | | |\n| 29 | Additions to long-term debt | 3,197 | | | 3,997 | | | 4,385 | | |\n| 30 | Reductions in long-term debt | (2,335) | | | (1,878) | | | (2,343) | | |\n| 31 | Treasury stock purchases | (5,006) | | | (7,353) | | | (10,003) | | |\n| 32 | Impact of stock options and other | 1,905 | | | 1,269 | | | 2,005 | | |\n| 33 | TOTAL FINANCING ACTIVITIES | (14,855) | | | (12,146) | | | (14,876) | | |\n| 34 | EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (251) | | | (170) | | | (497) | | |\n| 35 | CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 1,235 | | | 1,032 | | | (3,074) | | |\n| 36 | CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR | $ | 9,482 | | | $ | 8,246 | | $ | 7,214 |\n| 38 | SUPPLEMENTAL DISCLOSURE | | | | | | | | | |\n| 39 | Cash payments for interest | $ | 878 | | | $ | 721 | | $ | 451 |\n| 40 | Cash payments for income taxes | 4,363 | | | 4,278 | | | 3,818 | | |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 39: \nThe Procter & Gamble Company 39\n\n\n\nConsolidated Statements of Cash Flows\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR<\/td>$<\/td>8,246 <\/td><\/td><\/td>$<\/td>7,214 <\/td><\/td><\/td>$<\/td>10,288 <\/td><\/td><\/tr>
OPERATING ACTIVITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>2,896 <\/td><\/td><\/td>2,714 <\/td><\/td><\/td>2,807 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Share-based compensation expense<\/td>562 <\/td><\/td><\/td>545 <\/td><\/td><\/td>528 <\/td><\/td><\/tr>
Deferred income taxes<\/td>(244)<\/td><\/td><\/td>(453)<\/td><\/td><\/td>(402)<\/td><\/td><\/tr>
Loss\/(gain) on sale of assets<\/td>(215)<\/td><\/td><\/td>(40)<\/td><\/td><\/td>(85)<\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in accounts receivable<\/td>(766)<\/td><\/td><\/td>(307)<\/td><\/td><\/td>(694)<\/td><\/td><\/tr>
Change in inventories<\/td>(70)<\/td><\/td><\/td>(119)<\/td><\/td><\/td>(1,247)<\/td><\/td><\/tr>
Change in accounts payable and accrued and other liabilities<\/td>1,814 <\/td><\/td><\/td>313 <\/td><\/td><\/td>1,429 <\/td><\/td><\/tr>
Change in other operating assets and liabilities<\/td>(1,414)<\/td><\/td><\/td>(1,107)<\/td><\/td><\/td>(635)<\/td><\/td><\/tr>
Other<\/td>969 <\/td><\/td><\/td>564 <\/td><\/td><\/td>229 <\/td><\/td><\/tr>
TOTAL OPERATING ACTIVITIES<\/td>19,846 <\/td><\/td><\/td>16,848 <\/td><\/td><\/td>16,723 <\/td><\/td><\/tr>
INVESTING ACTIVITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Capital expenditures<\/td>(3,322)<\/td><\/td><\/td>(3,062)<\/td><\/td><\/td>(3,156)<\/td><\/td><\/tr>
Proceeds from asset sales<\/td>346 <\/td><\/td><\/td>46 <\/td><\/td><\/td>110 <\/td><\/td><\/tr>
Acquisitions, net of cash acquired<\/td>(21)<\/td><\/td><\/td>(765)<\/td><\/td><\/td>(1,381)<\/td><\/td><\/tr>
Other investing activity<\/td>(507)<\/td><\/td><\/td>281 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
TOTAL INVESTING ACTIVITIES<\/td>(3,504)<\/td><\/td><\/td>(3,500)<\/td><\/td><\/td>(4,424)<\/td><\/td><\/tr>
FINANCING ACTIVITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Dividends to shareholders<\/td>(9,312)<\/td><\/td><\/td>(8,999)<\/td><\/td><\/td>(8,770)<\/td><\/td><\/tr>
Additions to short-term debt with original maturities of more than three months<\/td>3,528 <\/td><\/td><\/td>17,168 <\/td><\/td><\/td>10,411 <\/td><\/td><\/tr>
Reductions in short-term debt with original maturities of more than three months<\/td>(7,689)<\/td><\/td><\/td>(13,031)<\/td><\/td><\/td>(11,478)<\/td><\/td><\/tr>
Net additions\/(reductions) to other short-term debt<\/td>857 <\/td><\/td><\/td>(3,319)<\/td><\/td><\/td>917 <\/td><\/td><\/tr>
Additions to long-term debt<\/td>3,197 <\/td><\/td><\/td>3,997 <\/td><\/td><\/td>4,385 <\/td><\/td><\/tr>
Reductions in long-term debt<\/td>(2,335)<\/td><\/td><\/td>(1,878)<\/td><\/td><\/td>(2,343)<\/td><\/td><\/tr>
Treasury stock purchases<\/td>(5,006)<\/td><\/td><\/td>(7,353)<\/td><\/td><\/td>(10,003)<\/td><\/td><\/tr>
Impact of stock options and other<\/td>1,905 <\/td><\/td><\/td>1,269 <\/td><\/td><\/td>2,005 <\/td><\/td><\/tr>
TOTAL FINANCING ACTIVITIES<\/td>(14,855)<\/td><\/td><\/td>(12,146)<\/td><\/td><\/td>(14,876)<\/td><\/td><\/tr>
EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH<\/td>(251)<\/td><\/td><\/td>(170)<\/td><\/td><\/td>(497)<\/td><\/td><\/tr>
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH<\/td>1,235 <\/td><\/td><\/td>1,032 <\/td><\/td><\/td>(3,074)<\/td><\/td><\/tr>
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/td>$<\/td>7,214 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
SUPPLEMENTAL DISCLOSURE<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash payments for interest<\/td>$<\/td>878 <\/td><\/td><\/td>$<\/td>721 <\/td><\/td><\/td>$<\/td>451 <\/td><\/td><\/tr>
Cash payments for income taxes<\/td>4,363 <\/td><\/td><\/td>4,278 <\/td><\/td><\/td>3,818 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 39\n\n\n\nConsolidated Statements of Cash Flows\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR<\/td>$<\/td>8,246 <\/td><\/td><\/td>$<\/td>7,214 <\/td><\/td><\/td>$<\/td>10,288 <\/td><\/td><\/tr>
OPERATING ACTIVITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>2,896 <\/td><\/td><\/td>2,714 <\/td><\/td><\/td>2,807 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Share-based compensation expense<\/td>562 <\/td><\/td><\/td>545 <\/td><\/td><\/td>528 <\/td><\/td><\/tr>
Deferred income taxes<\/td>(244)<\/td><\/td><\/td>(453)<\/td><\/td><\/td>(402)<\/td><\/td><\/tr>
Loss\/(gain) on sale of assets<\/td>(215)<\/td><\/td><\/td>(40)<\/td><\/td><\/td>(85)<\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Change in accounts receivable<\/td>(766)<\/td><\/td><\/td>(307)<\/td><\/td><\/td>(694)<\/td><\/td><\/tr>
Change in inventories<\/td>(70)<\/td><\/td><\/td>(119)<\/td><\/td><\/td>(1,247)<\/td><\/td><\/tr>
Change in accounts payable and accrued and other liabilities<\/td>1,814 <\/td><\/td><\/td>313 <\/td><\/td><\/td>1,429 <\/td><\/td><\/tr>
Change in other operating assets and liabilities<\/td>(1,414)<\/td><\/td><\/td>(1,107)<\/td><\/td><\/td>(635)<\/td><\/td><\/tr>
Other<\/td>969 <\/td><\/td><\/td>564 <\/td><\/td><\/td>229 <\/td><\/td><\/tr>
TOTAL OPERATING ACTIVITIES<\/td>19,846 <\/td><\/td><\/td>16,848 <\/td><\/td><\/td>16,723 <\/td><\/td><\/tr>
INVESTING ACTIVITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Capital expenditures<\/td>(3,322)<\/td><\/td><\/td>(3,062)<\/td><\/td><\/td>(3,156)<\/td><\/td><\/tr>
Proceeds from asset sales<\/td>346 <\/td><\/td><\/td>46 <\/td><\/td><\/td>110 <\/td><\/td><\/tr>
Acquisitions, net of cash acquired<\/td>(21)<\/td><\/td><\/td>(765)<\/td><\/td><\/td>(1,381)<\/td><\/td><\/tr>
Other investing activity<\/td>(507)<\/td><\/td><\/td>281 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
TOTAL INVESTING ACTIVITIES<\/td>(3,504)<\/td><\/td><\/td>(3,500)<\/td><\/td><\/td>(4,424)<\/td><\/td><\/tr>
FINANCING ACTIVITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Dividends to shareholders<\/td>(9,312)<\/td><\/td><\/td>(8,999)<\/td><\/td><\/td>(8,770)<\/td><\/td><\/tr>
Additions to short-term debt with original maturities of more than three months<\/td>3,528 <\/td><\/td><\/td>17,168 <\/td><\/td><\/td>10,411 <\/td><\/td><\/tr>
Reductions in short-term debt with original maturities of more than three months<\/td>(7,689)<\/td><\/td><\/td>(13,031)<\/td><\/td><\/td>(11,478)<\/td><\/td><\/tr>
Net additions\/(reductions) to other short-term debt<\/td>857 <\/td><\/td><\/td>(3,319)<\/td><\/td><\/td>917 <\/td><\/td><\/tr>
Additions to long-term debt<\/td>3,197 <\/td><\/td><\/td>3,997 <\/td><\/td><\/td>4,385 <\/td><\/td><\/tr>
Reductions in long-term debt<\/td>(2,335)<\/td><\/td><\/td>(1,878)<\/td><\/td><\/td>(2,343)<\/td><\/td><\/tr>
Treasury stock purchases<\/td>(5,006)<\/td><\/td><\/td>(7,353)<\/td><\/td><\/td>(10,003)<\/td><\/td><\/tr>
Impact of stock options and other<\/td>1,905 <\/td><\/td><\/td>1,269 <\/td><\/td><\/td>2,005 <\/td><\/td><\/tr>
TOTAL FINANCING ACTIVITIES<\/td>(14,855)<\/td><\/td><\/td>(12,146)<\/td><\/td><\/td>(14,876)<\/td><\/td><\/tr>
EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH<\/td>(251)<\/td><\/td><\/td>(170)<\/td><\/td><\/td>(497)<\/td><\/td><\/tr>
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH<\/td>1,235 <\/td><\/td><\/td>1,032 <\/td><\/td><\/td>(3,074)<\/td><\/td><\/tr>
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/td>$<\/td>7,214 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
SUPPLEMENTAL DISCLOSURE<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cash payments for interest<\/td>$<\/td>878 <\/td><\/td><\/td>$<\/td>721 <\/td><\/td><\/td>$<\/td>451 <\/td><\/td><\/tr>
Cash payments for income taxes<\/td>4,363 <\/td><\/td><\/td>4,278 <\/td><\/td><\/td>3,818 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n"} +{"QID":"q_Ra027","Question":"What is the Cash Conversion Cycle for 2024, and how does it compare to 2023?","ground_truth_answer":"The Cash Conversion Cycle (CCC) is calculated as Days Inventory Outstanding (DIO) + Days Sales Outstanding (DSO) - Days Payable Outstanding (DPO).\nFor 2024:\nDIO = (Average Inventory \/ Cost of Goods Sold) * 365\nAverage Inventory = ($7,073 million + $7,016 million) \/ 2 = $7,044.5 million\nDIO = ($7,044.5 million \/ $40,848 million) * 365 = 63.0 days\nDSO = (Average Accounts Receivable \/ Net Sales) * 365\nAverage Accounts Receivable = ($5,471 million + $6,118 million) \/ 2 = $5,794.5 million\nDSO = ($5,794.5 million \/ $84,039 million) * 365 = 25.1 days\nDPO = (Average Accounts Payable \/ Cost of Goods Sold) * 365\nAverage Accounts Payable = ($14,598 million + $15,364 million) \/ 2 = $14,981 million\nDPO = ($14,981 million \/ $40,848 million) * 365 = 134.2 days\nCCC = DIO + DSO - DPO = 63.0 days + 25.1 days - 134.2 days = -46.1 days\n\nFor 2023:\nDIO = ($7,073 million \/ $42,760 million) * 365 = 60.4 days\nDSO = ($5,471 million \/ $82,006 million) * 365 = 24.4 days\nDPO = ($14,598 million \/ $42,760 million) * 365 = 124.6 days\nCCC = 60.4 days + 24.4 days - 107.6 days = -39.8 days\n\nAnalysis: The Cash Conversion Cycle became slightly more negative from -39.8 days in 2023 to -46.1 days in 2024. This improvement indicates that P&G is more efficient in managing its working capital, reducing the time between outlaying cash and receiving cash from sales.","question_type":"Ratio","page_number":"36, 37","accession_number":"0000080424-24-000083","item":"Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 37: \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------|:----------|:--------|:-----|:----------|:---|:--------|\n| 1 | Amounts in millions except stated values; as of June 30 | 2024 | | 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | CURRENT ASSETS | | | | | | |\n| 4 | Cash and cash equivalents | $ | 9,482 | | | $ | 8,246 |\n| 5 | Accounts receivable | 6,118 | | | 5,471 | | |\n| 6 | INVENTORIES | | | | | | |\n| 7 | Materials and supplies | 1,617 | | | 1,863 | | |\n| 8 | Work in process | 929 | | | 956 | | |\n| 9 | Finished goods | 4,470 | | | 4,254 | | |\n| 10 | Total inventories | 7,016 | | | 7,073 | | |\n| 11 | Prepaid expenses and other current assets | 2,095 | | | 1,858 | | |\n| 12 | TOTAL CURRENT ASSETS | 24,709 | | | 22,648 | | |\n| 13 | PROPERTY, PLANT AND EQUIPMENT, NET | 22,152 | | | 21,909 | | |\n| 14 | GOODWILL | 40,303 | | | 40,659 | | |\n| 15 | TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET | 22,047 | | | 23,783 | | |\n| 16 | OTHER NONCURRENT ASSETS | 13,158 | | | 11,830 | | |\n| 17 | TOTAL ASSETS | $ | 122,370 | | | $ | 120,829 |\n| 19 | Liabilities and Shareholders' Equity | | | | | | |\n| 20 | CURRENT LIABILITIES | | | | | | |\n| 21 | Accounts payable | $ | 15,364 | | | $ | 14,598 |\n| 22 | Accrued and other liabilities | 11,073 | | | 10,929 | | |\n| 23 | Debt due within one year | 7,191 | | | 10,229 | | |\n| 24 | TOTAL CURRENT LIABILITIES | 33,627 | | | 35,756 | | |\n| 25 | LONG-TERM DEBT | 25,269 | | | 24,378 | | |\n| 26 | DEFERRED INCOME TAXES | 6,516 | | | 6,478 | | |\n| 27 | OTHER NONCURRENT LIABILITIES | 6,398 | | | 7,152 | | |\n| 28 | TOTAL LIABILITIES | 71,811 | | | 73,764 | | |\n| 29 | SHAREHOLDERS' EQUITY | | | | | | |\n| 30 | Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) | 798 | | | 819 | | |\n| 31 | Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) | - | | | - | | |\n| 32 | Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2) | 4,009 | | | 4,009 | | |\n| 33 | Additional paid-in capital | 67,684 | | | 66,556 | | |\n| 34 | Reserve for ESOP debt retirement | (737) | | | (821) | | |\n| 35 | Accumulated other comprehensive loss | (11,900) | | | (12,220) | | |\n| 36 | Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1) | (133,379) | | | (129,736) | | |\n| 37 | Retained earnings | 123,811 | | | 118,170 | | |\n| 38 | Noncontrolling interest | 272 | | | 288 | | |\n| 39 | TOTAL SHAREHOLDERS' EQUITY | 50,559 | | | 47,065 | | |\n| 40 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 122,370 | | | $ | 120,829 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_markdown_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------|:----------|:--------|:-----|:----------|:---|:--------|\n| 1 | Amounts in millions except stated values; as of June 30 | 2024 | | 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | CURRENT ASSETS | | | | | | |\n| 4 | Cash and cash equivalents | $ | 9,482 | | | $ | 8,246 |\n| 5 | Accounts receivable | 6,118 | | | 5,471 | | |\n| 6 | INVENTORIES | | | | | | |\n| 7 | Materials and supplies | 1,617 | | | 1,863 | | |\n| 8 | Work in process | 929 | | | 956 | | |\n| 9 | Finished goods | 4,470 | | | 4,254 | | |\n| 10 | Total inventories | 7,016 | | | 7,073 | | |\n| 11 | Prepaid expenses and other current assets | 2,095 | | | 1,858 | | |\n| 12 | TOTAL CURRENT ASSETS | 24,709 | | | 22,648 | | |\n| 13 | PROPERTY, PLANT AND EQUIPMENT, NET | 22,152 | | | 21,909 | | |\n| 14 | GOODWILL | 40,303 | | | 40,659 | | |\n| 15 | TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET | 22,047 | | | 23,783 | | |\n| 16 | OTHER NONCURRENT ASSETS | 13,158 | | | 11,830 | | |\n| 17 | TOTAL ASSETS | $ | 122,370 | | | $ | 120,829 |\n| 19 | Liabilities and Shareholders' Equity | | | | | | |\n| 20 | CURRENT LIABILITIES | | | | | | |\n| 21 | Accounts payable | $ | 15,364 | | | $ | 14,598 |\n| 22 | Accrued and other liabilities | 11,073 | | | 10,929 | | |\n| 23 | Debt due within one year | 7,191 | | | 10,229 | | |\n| 24 | TOTAL CURRENT LIABILITIES | 33,627 | | | 35,756 | | |\n| 25 | LONG-TERM DEBT | 25,269 | | | 24,378 | | |\n| 26 | DEFERRED INCOME TAXES | 6,516 | | | 6,478 | | |\n| 27 | OTHER NONCURRENT LIABILITIES | 6,398 | | | 7,152 | | |\n| 28 | TOTAL LIABILITIES | 71,811 | | | 73,764 | | |\n| 29 | SHAREHOLDERS' EQUITY | | | | | | |\n| 30 | Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) | 798 | | | 819 | | |\n| 31 | Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) | - | | | - | | |\n| 32 | Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2) | 4,009 | | | 4,009 | | |\n| 33 | Additional paid-in capital | 67,684 | | | 66,556 | | |\n| 34 | Reserve for ESOP debt retirement | (737) | | | (821) | | |\n| 35 | Accumulated other comprehensive loss | (11,900) | | | (12,220) | | |\n| 36 | Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1) | (133,379) | | | (129,736) | | |\n| 37 | Retained earnings | 123,811 | | | 118,170 | | |\n| 38 | Noncontrolling interest | 272 | | | 288 | | |\n| 39 | TOTAL SHAREHOLDERS' EQUITY | 50,559 | | | 47,065 | | |\n| 40 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 122,370 | | | $ | 120,829 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 37: \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except stated values; as of June 30<\/td>2024<\/td><\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
CURRENT ASSETS<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/tr>
Accounts receivable<\/td>6,118 <\/td><\/td><\/td>5,471 <\/td><\/td><\/tr>
INVENTORIES<\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td>1,617 <\/td><\/td><\/td>1,863 <\/td><\/td><\/tr>
Work in process<\/td>929 <\/td><\/td><\/td>956 <\/td><\/td><\/tr>
Finished goods<\/td>4,470 <\/td><\/td><\/td>4,254 <\/td><\/td><\/tr>
Total inventories<\/td>7,016 <\/td><\/td><\/td>7,073 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>2,095 <\/td><\/td><\/td>1,858 <\/td><\/td><\/tr>
TOTAL CURRENT ASSETS<\/td>24,709 <\/td><\/td><\/td>22,648 <\/td><\/td><\/tr>
PROPERTY, PLANT AND EQUIPMENT, NET<\/td>22,152 <\/td><\/td><\/td>21,909 <\/td><\/td><\/tr>
GOODWILL<\/td>40,303 <\/td><\/td><\/td>40,659 <\/td><\/td><\/tr>
TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET<\/td>22,047 <\/td><\/td><\/td>23,783 <\/td><\/td><\/tr>
OTHER NONCURRENT ASSETS<\/td>13,158 <\/td><\/td><\/td>11,830 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
CURRENT LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>15,364 <\/td><\/td><\/td>$<\/td>14,598 <\/td><\/td><\/tr>
Accrued and other liabilities<\/td>11,073 <\/td><\/td><\/td>10,929 <\/td><\/td><\/tr>
Debt due within one year<\/td>7,191 <\/td><\/td><\/td>10,229 <\/td><\/td><\/tr>
TOTAL CURRENT LIABILITIES<\/td>33,627 <\/td><\/td><\/td>35,756 <\/td><\/td><\/tr>
LONG-TERM DEBT<\/td>25,269 <\/td><\/td><\/td>24,378 <\/td><\/td><\/tr>
DEFERRED INCOME TAXES<\/td>6,516 <\/td><\/td><\/td>6,478 <\/td><\/td><\/tr>
OTHER NONCURRENT LIABILITIES<\/td>6,398 <\/td><\/td><\/td>7,152 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td>71,811 <\/td><\/td><\/td>73,764 <\/td><\/td><\/tr>
SHAREHOLDERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Convertible Class A preferred stock, stated value $1 per share (600 shares authorized)<\/td>798 <\/td><\/td><\/td>819 <\/td><\/td><\/tr>
Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized)<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2)<\/td>4,009 <\/td><\/td><\/td>4,009 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>67,684 <\/td><\/td><\/td>66,556 <\/td><\/td><\/tr>
Reserve for ESOP debt retirement<\/td>(737)<\/td><\/td><\/td>(821)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,900)<\/td><\/td><\/td>(12,220)<\/td><\/td><\/tr>
Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1)<\/td>(133,379)<\/td><\/td><\/td>(129,736)<\/td><\/td><\/tr>
Retained earnings<\/td>123,811 <\/td><\/td><\/td>118,170 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>272 <\/td><\/td><\/td>288 <\/td><\/td><\/tr>
TOTAL SHAREHOLDERS' EQUITY<\/td>50,559 <\/td><\/td><\/td>47,065 <\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except stated values; as of June 30<\/td>2024<\/td><\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
CURRENT ASSETS<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/tr>
Accounts receivable<\/td>6,118 <\/td><\/td><\/td>5,471 <\/td><\/td><\/tr>
INVENTORIES<\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td>1,617 <\/td><\/td><\/td>1,863 <\/td><\/td><\/tr>
Work in process<\/td>929 <\/td><\/td><\/td>956 <\/td><\/td><\/tr>
Finished goods<\/td>4,470 <\/td><\/td><\/td>4,254 <\/td><\/td><\/tr>
Total inventories<\/td>7,016 <\/td><\/td><\/td>7,073 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>2,095 <\/td><\/td><\/td>1,858 <\/td><\/td><\/tr>
TOTAL CURRENT ASSETS<\/td>24,709 <\/td><\/td><\/td>22,648 <\/td><\/td><\/tr>
PROPERTY, PLANT AND EQUIPMENT, NET<\/td>22,152 <\/td><\/td><\/td>21,909 <\/td><\/td><\/tr>
GOODWILL<\/td>40,303 <\/td><\/td><\/td>40,659 <\/td><\/td><\/tr>
TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET<\/td>22,047 <\/td><\/td><\/td>23,783 <\/td><\/td><\/tr>
OTHER NONCURRENT ASSETS<\/td>13,158 <\/td><\/td><\/td>11,830 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
CURRENT LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>15,364 <\/td><\/td><\/td>$<\/td>14,598 <\/td><\/td><\/tr>
Accrued and other liabilities<\/td>11,073 <\/td><\/td><\/td>10,929 <\/td><\/td><\/tr>
Debt due within one year<\/td>7,191 <\/td><\/td><\/td>10,229 <\/td><\/td><\/tr>
TOTAL CURRENT LIABILITIES<\/td>33,627 <\/td><\/td><\/td>35,756 <\/td><\/td><\/tr>
LONG-TERM DEBT<\/td>25,269 <\/td><\/td><\/td>24,378 <\/td><\/td><\/tr>
DEFERRED INCOME TAXES<\/td>6,516 <\/td><\/td><\/td>6,478 <\/td><\/td><\/tr>
OTHER NONCURRENT LIABILITIES<\/td>6,398 <\/td><\/td><\/td>7,152 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td>71,811 <\/td><\/td><\/td>73,764 <\/td><\/td><\/tr>
SHAREHOLDERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Convertible Class A preferred stock, stated value $1 per share (600 shares authorized)<\/td>798 <\/td><\/td><\/td>819 <\/td><\/td><\/tr>
Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized)<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2)<\/td>4,009 <\/td><\/td><\/td>4,009 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>67,684 <\/td><\/td><\/td>66,556 <\/td><\/td><\/tr>
Reserve for ESOP debt retirement<\/td>(737)<\/td><\/td><\/td>(821)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,900)<\/td><\/td><\/td>(12,220)<\/td><\/td><\/tr>
Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1)<\/td>(133,379)<\/td><\/td><\/td>(129,736)<\/td><\/td><\/tr>
Retained earnings<\/td>123,811 <\/td><\/td><\/td>118,170 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>272 <\/td><\/td><\/td>288 <\/td><\/td><\/tr>
TOTAL SHAREHOLDERS' EQUITY<\/td>50,559 <\/td><\/td><\/td>47,065 <\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n"} +{"QID":"q_Ra028","Question":"What is the Revenue per Employee for 2024, and how does it compare to 2023?","ground_truth_answer":"Revenue per Employee is Net Sales divided by the number of employees. For 2024:\n\nNumber of Employees = 108,000\nRevenue per Employee = $84,039 million \/ 108,000 = $778,139\nFor 2023:\n\nNumber of Employees = 108,000\nRevenue per Employee = $82,006 million \/ 108,000 = $759,314\n","question_type":"Ratio","page_number":"2;36","accession_number":"0000080424-24-000083;0000080424-24-000083","item":"Item 1. Business.;Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 2: \n2 The Procter & Gamble Company\n\n\nGovernment Regulation. Our Company is subject to a wide variety of laws and regulations across the countries in which we do business. In the United States, many of our products and manufacturing operations are subject to one or more federal or state regulatory agencies, including the U.S. Food and Drug Administration (FDA), the Environmental Protection Agency (EPA), the Occupational Safety and Health Administration (OSHA), the Federal Trade Commission (FTC) and the Consumer Product Safety Commission (CPSC). We are also subject to anti-corruption laws and regulations, such as the U.S. Foreign Corrupt Practices Act, and antitrust and competition laws and regulations that govern our dealings with suppliers, customers, competitors and government officials. \nIn addition, many foreign jurisdictions in which we do business have regulations and regulatory bodies that govern similar aspects of our operations and products, in some cases to an even more significant degree. We are also subject to expanding laws and regulations related to environmental protection and other sustainability-related matters, non-financial reporting and diligence, labor and employment, trade, taxation and privacy and data protection, including the European Union's General Data Protection Regulation and similar regulations in states within the United States and in countries around the world.\nThe Company has in place compliance programs and internal and external experts to help guide our business in complying with these and other existing laws and regulations that apply to us around the globe; and we have made, and plan to continue making, necessary expenditures for compliance with these laws and regulations. We also expect that our many suppliers, consultants and other third parties working on our behalf share our commitment to compliance, and we have policies and procedures in place to manage these relationships, though they inherently involve a lesser degree of control over operations and governance. We do not expect that the Company's expenditures for compliance with current government regulations, including current environmental regulations, will have a material effect on our total capital expenditures, earnings or competitive position in fiscal year 2025 as compared to prior periods.\nHuman Capital. Our employees are a key source of competitive advantage. Their actions, guided by our Purpose, Values and Principles (PVPs), are critical to the long-term success of our business. We aim to retain our talented employees by offering competitive compensation and benefits, strong career development and a respectful and inclusive culture that provides equal opportunity for all. \nOur Board of Directors, through the Compensation and Leadership Development Committee (C&LD Committee), provides oversight of the Company's policies and strategy relating to talent, including equality and inclusion, as well as the Company's compensation principles and practices. The C&LD Committee also evaluates and approves the Company's compensation plans, policies and programs applicable to our senior executives.\n\nEmployees\n\nAs of June 30, 2024, the Company had approximately 108,000 employees, unchanged versus the prior year. The total number of employees is an estimate of total Company employees excluding interns, co-ops, contractors and employees of joint ventures. 48% of our employees are in manufacturing roles and 28% of our employees are located in the United States. 42% of our global employees are women and 32% of our U.S. employees identify as multicultural.\n\nTraining and Development\n\nWe focus on attracting, developing and retaining the widest pool of talent available, both from universities and the broader market. We recruit from universities across markets in which we compete and are generally able to select from the top talent. We focus on developing our employees by providing a variety of job experiences, training programs and skill development opportunities. Given our develop-from-within model for staffing most of our senior leadership positions, it is particularly important for us to ensure holistic growth and full engagement of our employees. \n\nDiversity, Equality and Inclusion\n\nAs a consumer products company, we believe that it is important for our workforce to reflect the diversity of our consumers worldwide. We also seek to foster an inclusive work environment where each individual can bring their authentic self, which helps drive innovation and enables us to better serve our consumers. We aspire to achieve equal gender representation globally and at key management and leadership levels. Within the U.S. workforce, our aspiration is to achieve 40% multicultural representation overall as well as at management and leadership levels. \n\nCompensation and Benefits\n\nMarket-competitive compensation and reward programs are critical elements of our employee value equation to attract and retain the best talent. Our total rewards programs are based on the principles of paying for performance, paying competitively versus peer companies that we compete with for talent in the marketplace and focusing on long-term success through a combination of short-term and long-term incentive programs. We also offer competitive benefit programs, including retirement plans and health insurance, in line with local country practices, with flexibility to accommodate the needs of a diverse workforce.\nSustainability. Environmental sustainability is integrated into our business strategy. We are focused on designing and manufacturing irresistibly superior products that are more sustainable. We aim to reduce our own environmental footprint and enable our consumers to reduce their footprint without compromising on the performance of the products they use. We develop and license technologies that can be used across industries to improve environmental sustainability at a broader scale. \n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_markdown_without_headers":"\n2 The Procter & Gamble Company\n\n\nGovernment Regulation. Our Company is subject to a wide variety of laws and regulations across the countries in which we do business. In the United States, many of our products and manufacturing operations are subject to one or more federal or state regulatory agencies, including the U.S. Food and Drug Administration (FDA), the Environmental Protection Agency (EPA), the Occupational Safety and Health Administration (OSHA), the Federal Trade Commission (FTC) and the Consumer Product Safety Commission (CPSC). We are also subject to anti-corruption laws and regulations, such as the U.S. Foreign Corrupt Practices Act, and antitrust and competition laws and regulations that govern our dealings with suppliers, customers, competitors and government officials. \nIn addition, many foreign jurisdictions in which we do business have regulations and regulatory bodies that govern similar aspects of our operations and products, in some cases to an even more significant degree. We are also subject to expanding laws and regulations related to environmental protection and other sustainability-related matters, non-financial reporting and diligence, labor and employment, trade, taxation and privacy and data protection, including the European Union's General Data Protection Regulation and similar regulations in states within the United States and in countries around the world.\nThe Company has in place compliance programs and internal and external experts to help guide our business in complying with these and other existing laws and regulations that apply to us around the globe; and we have made, and plan to continue making, necessary expenditures for compliance with these laws and regulations. We also expect that our many suppliers, consultants and other third parties working on our behalf share our commitment to compliance, and we have policies and procedures in place to manage these relationships, though they inherently involve a lesser degree of control over operations and governance. We do not expect that the Company's expenditures for compliance with current government regulations, including current environmental regulations, will have a material effect on our total capital expenditures, earnings or competitive position in fiscal year 2025 as compared to prior periods.\nHuman Capital. Our employees are a key source of competitive advantage. Their actions, guided by our Purpose, Values and Principles (PVPs), are critical to the long-term success of our business. We aim to retain our talented employees by offering competitive compensation and benefits, strong career development and a respectful and inclusive culture that provides equal opportunity for all. \nOur Board of Directors, through the Compensation and Leadership Development Committee (C&LD Committee), provides oversight of the Company's policies and strategy relating to talent, including equality and inclusion, as well as the Company's compensation principles and practices. The C&LD Committee also evaluates and approves the Company's compensation plans, policies and programs applicable to our senior executives.\n\nEmployees\n\nAs of June 30, 2024, the Company had approximately 108,000 employees, unchanged versus the prior year. The total number of employees is an estimate of total Company employees excluding interns, co-ops, contractors and employees of joint ventures. 48% of our employees are in manufacturing roles and 28% of our employees are located in the United States. 42% of our global employees are women and 32% of our U.S. employees identify as multicultural.\n\nTraining and Development\n\nWe focus on attracting, developing and retaining the widest pool of talent available, both from universities and the broader market. We recruit from universities across markets in which we compete and are generally able to select from the top talent. We focus on developing our employees by providing a variety of job experiences, training programs and skill development opportunities. Given our develop-from-within model for staffing most of our senior leadership positions, it is particularly important for us to ensure holistic growth and full engagement of our employees. \n\nDiversity, Equality and Inclusion\n\nAs a consumer products company, we believe that it is important for our workforce to reflect the diversity of our consumers worldwide. We also seek to foster an inclusive work environment where each individual can bring their authentic self, which helps drive innovation and enables us to better serve our consumers. We aspire to achieve equal gender representation globally and at key management and leadership levels. Within the U.S. workforce, our aspiration is to achieve 40% multicultural representation overall as well as at management and leadership levels. \n\nCompensation and Benefits\n\nMarket-competitive compensation and reward programs are critical elements of our employee value equation to attract and retain the best talent. Our total rewards programs are based on the principles of paying for performance, paying competitively versus peer companies that we compete with for talent in the marketplace and focusing on long-term success through a combination of short-term and long-term incentive programs. We also offer competitive benefit programs, including retirement plans and health insurance, in line with local country practices, with flexibility to accommodate the needs of a diverse workforce.\nSustainability. Environmental sustainability is integrated into our business strategy. We are focused on designing and manufacturing irresistibly superior products that are more sustainable. We aim to reduce our own environmental footprint and enable our consumers to reduce their footprint without compromising on the performance of the products they use. We develop and license technologies that can be used across industries to improve environmental sustainability at a broader scale. \n\n\n, \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 2: \n2 The Procter & Gamble Company\n\n\nGovernment Regulation. Our Company is subject to a wide variety of laws and regulations across the countries in which we do business. In the United States, many of our products and manufacturing operations are subject to one or more federal or state regulatory agencies, including the U.S. Food and Drug Administration (FDA), the Environmental Protection Agency (EPA), the Occupational Safety and Health Administration (OSHA), the Federal Trade Commission (FTC) and the Consumer Product Safety Commission (CPSC). We are also subject to anti-corruption laws and regulations, such as the U.S. Foreign Corrupt Practices Act, and antitrust and competition laws and regulations that govern our dealings with suppliers, customers, competitors and government officials. \nIn addition, many foreign jurisdictions in which we do business have regulations and regulatory bodies that govern similar aspects of our operations and products, in some cases to an even more significant degree. We are also subject to expanding laws and regulations related to environmental protection and other sustainability-related matters, non-financial reporting and diligence, labor and employment, trade, taxation and privacy and data protection, including the European Union's General Data Protection Regulation and similar regulations in states within the United States and in countries around the world.\nThe Company has in place compliance programs and internal and external experts to help guide our business in complying with these and other existing laws and regulations that apply to us around the globe; and we have made, and plan to continue making, necessary expenditures for compliance with these laws and regulations. We also expect that our many suppliers, consultants and other third parties working on our behalf share our commitment to compliance, and we have policies and procedures in place to manage these relationships, though they inherently involve a lesser degree of control over operations and governance. We do not expect that the Company's expenditures for compliance with current government regulations, including current environmental regulations, will have a material effect on our total capital expenditures, earnings or competitive position in fiscal year 2025 as compared to prior periods.\nHuman Capital. Our employees are a key source of competitive advantage. Their actions, guided by our Purpose, Values and Principles (PVPs), are critical to the long-term success of our business. We aim to retain our talented employees by offering competitive compensation and benefits, strong career development and a respectful and inclusive culture that provides equal opportunity for all. \nOur Board of Directors, through the Compensation and Leadership Development Committee (C&LD Committee), provides oversight of the Company's policies and strategy relating to talent, including equality and inclusion, as well as the Company's compensation principles and practices. The C&LD Committee also evaluates and approves the Company's compensation plans, policies and programs applicable to our senior executives.\n\nEmployees\n\nAs of June 30, 2024, the Company had approximately 108,000 employees, unchanged versus the prior year. The total number of employees is an estimate of total Company employees excluding interns, co-ops, contractors and employees of joint ventures. 48% of our employees are in manufacturing roles and 28% of our employees are located in the United States. 42% of our global employees are women and 32% of our U.S. employees identify as multicultural.\n\nTraining and Development\n\nWe focus on attracting, developing and retaining the widest pool of talent available, both from universities and the broader market. We recruit from universities across markets in which we compete and are generally able to select from the top talent. We focus on developing our employees by providing a variety of job experiences, training programs and skill development opportunities. Given our develop-from-within model for staffing most of our senior leadership positions, it is particularly important for us to ensure holistic growth and full engagement of our employees. \n\nDiversity, Equality and Inclusion\n\nAs a consumer products company, we believe that it is important for our workforce to reflect the diversity of our consumers worldwide. We also seek to foster an inclusive work environment where each individual can bring their authentic self, which helps drive innovation and enables us to better serve our consumers. We aspire to achieve equal gender representation globally and at key management and leadership levels. Within the U.S. workforce, our aspiration is to achieve 40% multicultural representation overall as well as at management and leadership levels. \n\nCompensation and Benefits\n\nMarket-competitive compensation and reward programs are critical elements of our employee value equation to attract and retain the best talent. Our total rewards programs are based on the principles of paying for performance, paying competitively versus peer companies that we compete with for talent in the marketplace and focusing on long-term success through a combination of short-term and long-term incentive programs. We also offer competitive benefit programs, including retirement plans and health insurance, in line with local country practices, with flexibility to accommodate the needs of a diverse workforce.\nSustainability. Environmental sustainability is integrated into our business strategy. We are focused on designing and manufacturing irresistibly superior products that are more sustainable. We aim to reduce our own environmental footprint and enable our consumers to reduce their footprint without compromising on the performance of the products they use. We develop and license technologies that can be used across industries to improve environmental sustainability at a broader scale. \n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_without_headers":"\n2 The Procter & Gamble Company\n\n\nGovernment Regulation. Our Company is subject to a wide variety of laws and regulations across the countries in which we do business. In the United States, many of our products and manufacturing operations are subject to one or more federal or state regulatory agencies, including the U.S. Food and Drug Administration (FDA), the Environmental Protection Agency (EPA), the Occupational Safety and Health Administration (OSHA), the Federal Trade Commission (FTC) and the Consumer Product Safety Commission (CPSC). We are also subject to anti-corruption laws and regulations, such as the U.S. Foreign Corrupt Practices Act, and antitrust and competition laws and regulations that govern our dealings with suppliers, customers, competitors and government officials. \nIn addition, many foreign jurisdictions in which we do business have regulations and regulatory bodies that govern similar aspects of our operations and products, in some cases to an even more significant degree. We are also subject to expanding laws and regulations related to environmental protection and other sustainability-related matters, non-financial reporting and diligence, labor and employment, trade, taxation and privacy and data protection, including the European Union's General Data Protection Regulation and similar regulations in states within the United States and in countries around the world.\nThe Company has in place compliance programs and internal and external experts to help guide our business in complying with these and other existing laws and regulations that apply to us around the globe; and we have made, and plan to continue making, necessary expenditures for compliance with these laws and regulations. We also expect that our many suppliers, consultants and other third parties working on our behalf share our commitment to compliance, and we have policies and procedures in place to manage these relationships, though they inherently involve a lesser degree of control over operations and governance. We do not expect that the Company's expenditures for compliance with current government regulations, including current environmental regulations, will have a material effect on our total capital expenditures, earnings or competitive position in fiscal year 2025 as compared to prior periods.\nHuman Capital. Our employees are a key source of competitive advantage. Their actions, guided by our Purpose, Values and Principles (PVPs), are critical to the long-term success of our business. We aim to retain our talented employees by offering competitive compensation and benefits, strong career development and a respectful and inclusive culture that provides equal opportunity for all. \nOur Board of Directors, through the Compensation and Leadership Development Committee (C&LD Committee), provides oversight of the Company's policies and strategy relating to talent, including equality and inclusion, as well as the Company's compensation principles and practices. The C&LD Committee also evaluates and approves the Company's compensation plans, policies and programs applicable to our senior executives.\n\nEmployees\n\nAs of June 30, 2024, the Company had approximately 108,000 employees, unchanged versus the prior year. The total number of employees is an estimate of total Company employees excluding interns, co-ops, contractors and employees of joint ventures. 48% of our employees are in manufacturing roles and 28% of our employees are located in the United States. 42% of our global employees are women and 32% of our U.S. employees identify as multicultural.\n\nTraining and Development\n\nWe focus on attracting, developing and retaining the widest pool of talent available, both from universities and the broader market. We recruit from universities across markets in which we compete and are generally able to select from the top talent. We focus on developing our employees by providing a variety of job experiences, training programs and skill development opportunities. Given our develop-from-within model for staffing most of our senior leadership positions, it is particularly important for us to ensure holistic growth and full engagement of our employees. \n\nDiversity, Equality and Inclusion\n\nAs a consumer products company, we believe that it is important for our workforce to reflect the diversity of our consumers worldwide. We also seek to foster an inclusive work environment where each individual can bring their authentic self, which helps drive innovation and enables us to better serve our consumers. We aspire to achieve equal gender representation globally and at key management and leadership levels. Within the U.S. workforce, our aspiration is to achieve 40% multicultural representation overall as well as at management and leadership levels. \n\nCompensation and Benefits\n\nMarket-competitive compensation and reward programs are critical elements of our employee value equation to attract and retain the best talent. Our total rewards programs are based on the principles of paying for performance, paying competitively versus peer companies that we compete with for talent in the marketplace and focusing on long-term success through a combination of short-term and long-term incentive programs. We also offer competitive benefit programs, including retirement plans and health insurance, in line with local country practices, with flexibility to accommodate the needs of a diverse workforce.\nSustainability. Environmental sustainability is integrated into our business strategy. We are focused on designing and manufacturing irresistibly superior products that are more sustainable. We aim to reduce our own environmental footprint and enable our consumers to reduce their footprint without compromising on the performance of the products they use. We develop and license technologies that can be used across industries to improve environmental sustainability at a broader scale. \n\n\n, \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n"} +{"QID":"q_Ra029","Question":"What is the Revenue Growth Rate from 2023 to 2024?","ground_truth_answer":"The Revenue Growth Rate is calculated as (Revenue for 2024 - Revenue for 2023) \/ Revenue for 2023.\n\nRevenue Growth Rate = ($84,039 million - $82,006 million) \/ $82,006 million = 2.5%\n","question_type":"Ratio","page_number":36,"accession_number":"0000080424-24-000083","item":"Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_markdown_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n"} +{"QID":"q_Ra030","Question":"What is the Free Cash Flow Margin for 2024, and how does it compare to 2023?","ground_truth_answer":"Free Cash Flow Margin is Free Cash Flow divided by Net Sales. For 2024:\n\nFree Cash Flow = $16,946 million\nFree Cash Flow Margin = $16,946 million \/ $84,039 million = 20.2%\nFor 2023:\n\nFree Cash Flow Margin = $14,011 million \/ $82,006 million = 17.1%\n","question_type":"Ratio","page_number":25,"accession_number":"0000080424-24-000083","item":"Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.","context_markdown_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 25: \nThe Procter & Gamble Company 25\n\n\n\nCash Flow Analysis\n\n| | | | | | | | |\n|---:|:------------------------------------------|:---------|:-------|:-----|:---------|:---|:-------|\n| 1 | ($ millions) | 2024 | | 2023 | | | |\n| 2 | Net cash provided by operating activities | $ | 19,846 | | | $ | 16,848 |\n| 3 | Net cash used in investing activities | (3,504) | | | (3,500) | | |\n| 4 | Net cash used in financing activities | (14,855) | | | (12,146) | | |\n| 5 | Adjusted Free Cash Flow | 16,946 | | | 14,011 | | |\n| 6 | Adjusted Free Cash Flow Productivity | 105 | % | | 95 | % | |\n\nOperating Cash Flow\n\nOperating cash flow was $19.8 billion in 2024, an 18% increase versus the prior year. Net earnings, adjusted for certain non-cash items (depreciation and amortization, intangible asset impairment, share-based compensation expense, deferred income taxes and gain on sale of assets) generated approximately $19.3 billion of operating cash flow. Working capital and other impacts generated $533 million of cash in the period primarily driven by an increase in trade payables and other non-cash add-backs, partially offset by an increase in accounts receivable and a decrease in post-retirement benefit accruals. The increase in trade payables is primarily from increased marketing support activities and extended payment terms with suppliers, partially offset by lower supply chain payables due to a decrease in commodity costs. Other non-cash add-backs include the non-cash charge for accumulated foreign currency translation losses due to the substantial liquidation of operations in certain Enterprise Markets, including Nigeria. The increase in Accounts Receivable is primarily from sales growth. The decrease in post-retirement benefit accruals is due to payments and the net periodic credit from other retiree benefits. Days sales outstanding increased by two days. Days inventory on hand increased by two days.\nAdjusted Free Cash Flow. We view adjusted free cash flow as an important non-GAAP measure because it is a factor impacting the amount of cash available for dividends, share repurchases, acquisitions and other discretionary investments. It is defined as operating cash flow less capital expenditures and excluding payments for the transitional tax resulting from the U.S. Tax Act. Adjusted free cash flow is one of the measures used to evaluate senior management and determine their at-risk compensation. \nAdjusted free cash flow was $16.9 billion in 2024, an increase of 21% versus the prior year. The increase was primarily driven by the increase in operating cash flows as discussed above. Adjusted free cash flow productivity, defined as the ratio of adjusted free cash flow to net earnings excluding the Gillette intangible asset impairment charge and non-cash charge for accumulated foreign currency translation losses due to the substantial liquidation of operations in certain Enterprise Markets, including Nigeria, was 105% in 2024. \n\nInvesting Cash Flow\n\nNet investing activities used $3.5 billion of cash in 2024, primarily due to capital expenditures and the settlement of net investment hedges.\n\nFinancing Cash Flow\n\nNet financing activities used $14.9 billion of cash in 2024, mainly due to dividends to shareholders, treasury stock purchases and a net debt decrease, partially offset by the impact of stock options and other.\n\nLiquidity\n\nAt June 30, 2024, our current liabilities exceeded current assets by $8.9 billion, largely due to accounts payable, short-term borrowings and debt due within one year. We anticipate being able to support our short-term liquidity and operating needs largely through cash generated from operations. The Company regularly assesses its cash needs and the available sources to fund these needs. As of June 30, 2024, the Company had $6.1 billion of cash and cash equivalents related to foreign subsidiaries, primarily in various European and Asian countries. We did not have material cash and cash equivalents related to any country subject to exchange controls that significantly restrict our ability to access or repatriate the funds. Under current law, we do not expect restrictions or taxes on repatriation of cash held outside of the U.S. to have a material effect on our overall liquidity, financial condition or the results of operations for the foreseeable future. \nWe utilize short- and long-term debt to fund discretionary items, such as acquisitions and share repurchases. We have strong short- and long-term debt ratings, which have enabled and should continue to enable us to refinance our debt as it becomes due in commercial paper and bond markets. In addition, we have agreements with a diverse group of financial institutions that, if needed, should provide sufficient funding to meet short-term financing requirements.\nOn June 30, 2024, our short-term credit ratings were P-1 (Moody's) and A-1+ (Standard & Poor's), while our long-term credit ratings were Aa3 (Moody's) and AA- (Standard & Poor's), all with a stable outlook.\nWe maintain bank credit facilities to support our ongoing commercial paper program. The current facility is an $8.0 billion facility split between a $3.2 billion five-year facility and a $4.8 billion 364-day facility, which expire in November 2028 and October 2024, respectively. Both facilities can be extended for certain periods of time as specified in the terms of the credit agreement. These facilities are currently undrawn and we anticipate that they will remain undrawn. These credit facilities do not \n\n\n","context_markdown_without_headers":"\nThe Procter & Gamble Company 25\n\n\n\nCash Flow Analysis\n\n| | | | | | | | |\n|---:|:------------------------------------------|:---------|:-------|:-----|:---------|:---|:-------|\n| 1 | ($ millions) | 2024 | | 2023 | | | |\n| 2 | Net cash provided by operating activities | $ | 19,846 | | | $ | 16,848 |\n| 3 | Net cash used in investing activities | (3,504) | | | (3,500) | | |\n| 4 | Net cash used in financing activities | (14,855) | | | (12,146) | | |\n| 5 | Adjusted Free Cash Flow | 16,946 | | | 14,011 | | |\n| 6 | Adjusted Free Cash Flow Productivity | 105 | % | | 95 | % | |\n\nOperating Cash Flow\n\nOperating cash flow was $19.8 billion in 2024, an 18% increase versus the prior year. Net earnings, adjusted for certain non-cash items (depreciation and amortization, intangible asset impairment, share-based compensation expense, deferred income taxes and gain on sale of assets) generated approximately $19.3 billion of operating cash flow. Working capital and other impacts generated $533 million of cash in the period primarily driven by an increase in trade payables and other non-cash add-backs, partially offset by an increase in accounts receivable and a decrease in post-retirement benefit accruals. The increase in trade payables is primarily from increased marketing support activities and extended payment terms with suppliers, partially offset by lower supply chain payables due to a decrease in commodity costs. Other non-cash add-backs include the non-cash charge for accumulated foreign currency translation losses due to the substantial liquidation of operations in certain Enterprise Markets, including Nigeria. The increase in Accounts Receivable is primarily from sales growth. The decrease in post-retirement benefit accruals is due to payments and the net periodic credit from other retiree benefits. Days sales outstanding increased by two days. Days inventory on hand increased by two days.\nAdjusted Free Cash Flow. We view adjusted free cash flow as an important non-GAAP measure because it is a factor impacting the amount of cash available for dividends, share repurchases, acquisitions and other discretionary investments. It is defined as operating cash flow less capital expenditures and excluding payments for the transitional tax resulting from the U.S. Tax Act. Adjusted free cash flow is one of the measures used to evaluate senior management and determine their at-risk compensation. \nAdjusted free cash flow was $16.9 billion in 2024, an increase of 21% versus the prior year. The increase was primarily driven by the increase in operating cash flows as discussed above. Adjusted free cash flow productivity, defined as the ratio of adjusted free cash flow to net earnings excluding the Gillette intangible asset impairment charge and non-cash charge for accumulated foreign currency translation losses due to the substantial liquidation of operations in certain Enterprise Markets, including Nigeria, was 105% in 2024. \n\nInvesting Cash Flow\n\nNet investing activities used $3.5 billion of cash in 2024, primarily due to capital expenditures and the settlement of net investment hedges.\n\nFinancing Cash Flow\n\nNet financing activities used $14.9 billion of cash in 2024, mainly due to dividends to shareholders, treasury stock purchases and a net debt decrease, partially offset by the impact of stock options and other.\n\nLiquidity\n\nAt June 30, 2024, our current liabilities exceeded current assets by $8.9 billion, largely due to accounts payable, short-term borrowings and debt due within one year. We anticipate being able to support our short-term liquidity and operating needs largely through cash generated from operations. The Company regularly assesses its cash needs and the available sources to fund these needs. As of June 30, 2024, the Company had $6.1 billion of cash and cash equivalents related to foreign subsidiaries, primarily in various European and Asian countries. We did not have material cash and cash equivalents related to any country subject to exchange controls that significantly restrict our ability to access or repatriate the funds. Under current law, we do not expect restrictions or taxes on repatriation of cash held outside of the U.S. to have a material effect on our overall liquidity, financial condition or the results of operations for the foreseeable future. \nWe utilize short- and long-term debt to fund discretionary items, such as acquisitions and share repurchases. We have strong short- and long-term debt ratings, which have enabled and should continue to enable us to refinance our debt as it becomes due in commercial paper and bond markets. In addition, we have agreements with a diverse group of financial institutions that, if needed, should provide sufficient funding to meet short-term financing requirements.\nOn June 30, 2024, our short-term credit ratings were P-1 (Moody's) and A-1+ (Standard & Poor's), while our long-term credit ratings were Aa3 (Moody's) and AA- (Standard & Poor's), all with a stable outlook.\nWe maintain bank credit facilities to support our ongoing commercial paper program. The current facility is an $8.0 billion facility split between a $3.2 billion five-year facility and a $4.8 billion 364-day facility, which expire in November 2028 and October 2024, respectively. Both facilities can be extended for certain periods of time as specified in the terms of the credit agreement. These facilities are currently undrawn and we anticipate that they will remain undrawn. These credit facilities do not \n\n\n","context_html_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 25: \nThe Procter & Gamble Company 25\n\n\n\nCash Flow Analysis\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
($ millions)<\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net cash provided by operating activities<\/td>$<\/td>19,846 <\/td><\/td><\/td>$<\/td>16,848 <\/td><\/td><\/tr>
Net cash used in investing activities<\/td>(3,504)<\/td><\/td><\/td>(3,500)<\/td><\/td><\/tr>
Net cash used in financing activities<\/td>(14,855)<\/td><\/td><\/td>(12,146)<\/td><\/td><\/tr>
Adjusted Free Cash Flow<\/td>16,946 <\/td><\/td><\/td>14,011 <\/td><\/td><\/tr>
Adjusted Free Cash Flow Productivity<\/td>105 <\/td>%<\/td><\/td>95 <\/td>%<\/td><\/tr><\/table>\nOperating Cash Flow\n\nOperating cash flow was $19.8 billion in 2024, an 18% increase versus the prior year. Net earnings, adjusted for certain non-cash items (depreciation and amortization, intangible asset impairment, share-based compensation expense, deferred income taxes and gain on sale of assets) generated approximately $19.3 billion of operating cash flow. Working capital and other impacts generated $533 million of cash in the period primarily driven by an increase in trade payables and other non-cash add-backs, partially offset by an increase in accounts receivable and a decrease in post-retirement benefit accruals. The increase in trade payables is primarily from increased marketing support activities and extended payment terms with suppliers, partially offset by lower supply chain payables due to a decrease in commodity costs. Other non-cash add-backs include the non-cash charge for accumulated foreign currency translation losses due to the substantial liquidation of operations in certain Enterprise Markets, including Nigeria. The increase in Accounts Receivable is primarily from sales growth. The decrease in post-retirement benefit accruals is due to payments and the net periodic credit from other retiree benefits. Days sales outstanding increased by two days. Days inventory on hand increased by two days.\nAdjusted Free Cash Flow. We view adjusted free cash flow as an important non-GAAP measure because it is a factor impacting the amount of cash available for dividends, share repurchases, acquisitions and other discretionary investments. It is defined as operating cash flow less capital expenditures and excluding payments for the transitional tax resulting from the U.S. Tax Act. Adjusted free cash flow is one of the measures used to evaluate senior management and determine their at-risk compensation. \nAdjusted free cash flow was $16.9 billion in 2024, an increase of 21% versus the prior year. The increase was primarily driven by the increase in operating cash flows as discussed above. Adjusted free cash flow productivity, defined as the ratio of adjusted free cash flow to net earnings excluding the Gillette intangible asset impairment charge and non-cash charge for accumulated foreign currency translation losses due to the substantial liquidation of operations in certain Enterprise Markets, including Nigeria, was 105% in 2024. \n\nInvesting Cash Flow\n\nNet investing activities used $3.5 billion of cash in 2024, primarily due to capital expenditures and the settlement of net investment hedges.\n\nFinancing Cash Flow\n\nNet financing activities used $14.9 billion of cash in 2024, mainly due to dividends to shareholders, treasury stock purchases and a net debt decrease, partially offset by the impact of stock options and other.\n\nLiquidity\n\nAt June 30, 2024, our current liabilities exceeded current assets by $8.9 billion, largely due to accounts payable, short-term borrowings and debt due within one year. We anticipate being able to support our short-term liquidity and operating needs largely through cash generated from operations. The Company regularly assesses its cash needs and the available sources to fund these needs. As of June 30, 2024, the Company had $6.1 billion of cash and cash equivalents related to foreign subsidiaries, primarily in various European and Asian countries. We did not have material cash and cash equivalents related to any country subject to exchange controls that significantly restrict our ability to access or repatriate the funds. Under current law, we do not expect restrictions or taxes on repatriation of cash held outside of the U.S. to have a material effect on our overall liquidity, financial condition or the results of operations for the foreseeable future. \nWe utilize short- and long-term debt to fund discretionary items, such as acquisitions and share repurchases. We have strong short- and long-term debt ratings, which have enabled and should continue to enable us to refinance our debt as it becomes due in commercial paper and bond markets. In addition, we have agreements with a diverse group of financial institutions that, if needed, should provide sufficient funding to meet short-term financing requirements.\nOn June 30, 2024, our short-term credit ratings were P-1 (Moody's) and A-1+ (Standard & Poor's), while our long-term credit ratings were Aa3 (Moody's) and AA- (Standard & Poor's), all with a stable outlook.\nWe maintain bank credit facilities to support our ongoing commercial paper program. The current facility is an $8.0 billion facility split between a $3.2 billion five-year facility and a $4.8 billion 364-day facility, which expire in November 2028 and October 2024, respectively. Both facilities can be extended for certain periods of time as specified in the terms of the credit agreement. These facilities are currently undrawn and we anticipate that they will remain undrawn. These credit facilities do not \n\n\n","context_html_without_headers":"\nThe Procter & Gamble Company 25\n\n\n\nCash Flow Analysis\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
($ millions)<\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net cash provided by operating activities<\/td>$<\/td>19,846 <\/td><\/td><\/td>$<\/td>16,848 <\/td><\/td><\/tr>
Net cash used in investing activities<\/td>(3,504)<\/td><\/td><\/td>(3,500)<\/td><\/td><\/tr>
Net cash used in financing activities<\/td>(14,855)<\/td><\/td><\/td>(12,146)<\/td><\/td><\/tr>
Adjusted Free Cash Flow<\/td>16,946 <\/td><\/td><\/td>14,011 <\/td><\/td><\/tr>
Adjusted Free Cash Flow Productivity<\/td>105 <\/td>%<\/td><\/td>95 <\/td>%<\/td><\/tr><\/table>\nOperating Cash Flow\n\nOperating cash flow was $19.8 billion in 2024, an 18% increase versus the prior year. Net earnings, adjusted for certain non-cash items (depreciation and amortization, intangible asset impairment, share-based compensation expense, deferred income taxes and gain on sale of assets) generated approximately $19.3 billion of operating cash flow. Working capital and other impacts generated $533 million of cash in the period primarily driven by an increase in trade payables and other non-cash add-backs, partially offset by an increase in accounts receivable and a decrease in post-retirement benefit accruals. The increase in trade payables is primarily from increased marketing support activities and extended payment terms with suppliers, partially offset by lower supply chain payables due to a decrease in commodity costs. Other non-cash add-backs include the non-cash charge for accumulated foreign currency translation losses due to the substantial liquidation of operations in certain Enterprise Markets, including Nigeria. The increase in Accounts Receivable is primarily from sales growth. The decrease in post-retirement benefit accruals is due to payments and the net periodic credit from other retiree benefits. Days sales outstanding increased by two days. Days inventory on hand increased by two days.\nAdjusted Free Cash Flow. We view adjusted free cash flow as an important non-GAAP measure because it is a factor impacting the amount of cash available for dividends, share repurchases, acquisitions and other discretionary investments. It is defined as operating cash flow less capital expenditures and excluding payments for the transitional tax resulting from the U.S. Tax Act. Adjusted free cash flow is one of the measures used to evaluate senior management and determine their at-risk compensation. \nAdjusted free cash flow was $16.9 billion in 2024, an increase of 21% versus the prior year. The increase was primarily driven by the increase in operating cash flows as discussed above. Adjusted free cash flow productivity, defined as the ratio of adjusted free cash flow to net earnings excluding the Gillette intangible asset impairment charge and non-cash charge for accumulated foreign currency translation losses due to the substantial liquidation of operations in certain Enterprise Markets, including Nigeria, was 105% in 2024. \n\nInvesting Cash Flow\n\nNet investing activities used $3.5 billion of cash in 2024, primarily due to capital expenditures and the settlement of net investment hedges.\n\nFinancing Cash Flow\n\nNet financing activities used $14.9 billion of cash in 2024, mainly due to dividends to shareholders, treasury stock purchases and a net debt decrease, partially offset by the impact of stock options and other.\n\nLiquidity\n\nAt June 30, 2024, our current liabilities exceeded current assets by $8.9 billion, largely due to accounts payable, short-term borrowings and debt due within one year. We anticipate being able to support our short-term liquidity and operating needs largely through cash generated from operations. The Company regularly assesses its cash needs and the available sources to fund these needs. As of June 30, 2024, the Company had $6.1 billion of cash and cash equivalents related to foreign subsidiaries, primarily in various European and Asian countries. We did not have material cash and cash equivalents related to any country subject to exchange controls that significantly restrict our ability to access or repatriate the funds. Under current law, we do not expect restrictions or taxes on repatriation of cash held outside of the U.S. to have a material effect on our overall liquidity, financial condition or the results of operations for the foreseeable future. \nWe utilize short- and long-term debt to fund discretionary items, such as acquisitions and share repurchases. We have strong short- and long-term debt ratings, which have enabled and should continue to enable us to refinance our debt as it becomes due in commercial paper and bond markets. In addition, we have agreements with a diverse group of financial institutions that, if needed, should provide sufficient funding to meet short-term financing requirements.\nOn June 30, 2024, our short-term credit ratings were P-1 (Moody's) and A-1+ (Standard & Poor's), while our long-term credit ratings were Aa3 (Moody's) and AA- (Standard & Poor's), all with a stable outlook.\nWe maintain bank credit facilities to support our ongoing commercial paper program. The current facility is an $8.0 billion facility split between a $3.2 billion five-year facility and a $4.8 billion 364-day facility, which expire in November 2028 and October 2024, respectively. Both facilities can be extended for certain periods of time as specified in the terms of the credit agreement. These facilities are currently undrawn and we anticipate that they will remain undrawn. These credit facilities do not \n\n\n"} +{"QID":"q_Ra031","Question":"What is the Net Income Growth Rate from 2023 to 2024?","ground_truth_answer":"The Net Income Growth Rate is calculated as (Net Income for 2024 - Net Income for 2023) \/ Net Income for 2023.\n\nNet Income Growth Rate = ($14,974 million - $14,738 million) \/ $14,738 million = 1.6%\n","question_type":"Ratio","page_number":36,"accession_number":"0000080424-24-000083","item":"Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_markdown_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n"} +{"QID":"q_Ra032","Question":"What is the Capital Efficiency Ratio for 2024, and how does it compare to 2023?","ground_truth_answer":"Capital Efficiency Ratio is Operating Income divided by Total Capital Employed. \nFor 2024:\nCapital Employed = Total Assets - Current Liabilities = $122,370 million - $33,627 million = $88,743 million\nCapital Efficiency Ratio = $18,545 million \/ $88,743 million = 20.9%\n\nFor 2023:\nCapital Employed = $120,829 million - $35,756 million = $85,073 million\nCapital Efficiency Ratio = $18,134 million \/ $85,073 million = 21.3%","question_type":"Ratio","page_number":"36, 37","accession_number":"0000080424-24-000083","item":"Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 37: \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------|:----------|:--------|:-----|:----------|:---|:--------|\n| 1 | Amounts in millions except stated values; as of June 30 | 2024 | | 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | CURRENT ASSETS | | | | | | |\n| 4 | Cash and cash equivalents | $ | 9,482 | | | $ | 8,246 |\n| 5 | Accounts receivable | 6,118 | | | 5,471 | | |\n| 6 | INVENTORIES | | | | | | |\n| 7 | Materials and supplies | 1,617 | | | 1,863 | | |\n| 8 | Work in process | 929 | | | 956 | | |\n| 9 | Finished goods | 4,470 | | | 4,254 | | |\n| 10 | Total inventories | 7,016 | | | 7,073 | | |\n| 11 | Prepaid expenses and other current assets | 2,095 | | | 1,858 | | |\n| 12 | TOTAL CURRENT ASSETS | 24,709 | | | 22,648 | | |\n| 13 | PROPERTY, PLANT AND EQUIPMENT, NET | 22,152 | | | 21,909 | | |\n| 14 | GOODWILL | 40,303 | | | 40,659 | | |\n| 15 | TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET | 22,047 | | | 23,783 | | |\n| 16 | OTHER NONCURRENT ASSETS | 13,158 | | | 11,830 | | |\n| 17 | TOTAL ASSETS | $ | 122,370 | | | $ | 120,829 |\n| 19 | Liabilities and Shareholders' Equity | | | | | | |\n| 20 | CURRENT LIABILITIES | | | | | | |\n| 21 | Accounts payable | $ | 15,364 | | | $ | 14,598 |\n| 22 | Accrued and other liabilities | 11,073 | | | 10,929 | | |\n| 23 | Debt due within one year | 7,191 | | | 10,229 | | |\n| 24 | TOTAL CURRENT LIABILITIES | 33,627 | | | 35,756 | | |\n| 25 | LONG-TERM DEBT | 25,269 | | | 24,378 | | |\n| 26 | DEFERRED INCOME TAXES | 6,516 | | | 6,478 | | |\n| 27 | OTHER NONCURRENT LIABILITIES | 6,398 | | | 7,152 | | |\n| 28 | TOTAL LIABILITIES | 71,811 | | | 73,764 | | |\n| 29 | SHAREHOLDERS' EQUITY | | | | | | |\n| 30 | Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) | 798 | | | 819 | | |\n| 31 | Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) | - | | | - | | |\n| 32 | Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2) | 4,009 | | | 4,009 | | |\n| 33 | Additional paid-in capital | 67,684 | | | 66,556 | | |\n| 34 | Reserve for ESOP debt retirement | (737) | | | (821) | | |\n| 35 | Accumulated other comprehensive loss | (11,900) | | | (12,220) | | |\n| 36 | Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1) | (133,379) | | | (129,736) | | |\n| 37 | Retained earnings | 123,811 | | | 118,170 | | |\n| 38 | Noncontrolling interest | 272 | | | 288 | | |\n| 39 | TOTAL SHAREHOLDERS' EQUITY | 50,559 | | | 47,065 | | |\n| 40 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 122,370 | | | $ | 120,829 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_markdown_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:-------|\n| 1 | Amounts in millions except per share amounts; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET SALES | $ | 84,039 | | | $ | 82,006 | | $ | 80,187 |\n| 3 | Cost of products sold | 40,848 | | | 42,760 | | | 42,157 | | |\n| 4 | Selling, general and administrative expense | 23,305 | | | 21,112 | | | 20,217 | | |\n| 5 | Indefinite-lived intangible asset impairment charge | 1,341 | | | - | | | - | | |\n| 6 | OPERATING INCOME | 18,545 | | | 18,134 | | | 17,813 | | |\n| 7 | Interest expense | (925) | | | (756) | | | (439) | | |\n| 8 | Interest income | 473 | | | 307 | | | 51 | | |\n| 9 | Other non-operating income, net | 668 | | | 668 | | | 570 | | |\n| 10 | EARNINGS BEFORE INCOME TAXES | 18,761 | | | 18,353 | | | 17,995 | | |\n| 11 | Income taxes | 3,787 | | | 3,615 | | | 3,202 | | |\n| 14 | NET EARNINGS | 14,974 | | | 14,738 | | | 14,793 | | |\n| 15 | Less: Net earnings attributable to noncontrolling interests | 95 | | | 85 | | | 51 | | |\n| 16 | NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,879 | | | $ | 14,653 | | $ | 14,742 |\n| 18 | NET EARNINGS PER COMMON SHARE (1) | | | | | | | | | |\n| 19 | Basic | $ | 6.18 | | | $ | 6.07 | | $ | 6.00 |\n| 23 | Diluted | $ | 6.02 | | | $ | 5.90 | | $ | 5.81 |\n(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n| | | | | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|\n| 1 | Amounts in millions; fiscal years ended June 30 | 2024 | | 2023 | | 2022 | | | | |\n| 2 | NET EARNINGS | $ | 14,974 | | | $ | 14,738 | | $ | 14,793 |\n| 3 | OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | | | | | | | | | |\n| 4 | Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively) | (226) | | | (71) | | | (1,450) | | |\n| 5 | Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively) | (3) | | | (7) | | | 5 | | |\n| 6 | Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively) | 546 | | | 40 | | | 2,992 | | |\n| 7 | TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX | 317 | | | (38) | | | 1,547 | | |\n| 8 | TOTAL COMPREHENSIVE INCOME | 15,291 | | | 14,700 | | | 16,340 | | |\n| 9 | Less: Comprehensive income attributable to noncontrolling interests | 92 | | | 78 | | | 43 | | |\n| 10 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 15,199 | | | $ | 14,622 | | $ | 16,297 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------|:----------|:--------|:-----|:----------|:---|:--------|\n| 1 | Amounts in millions except stated values; as of June 30 | 2024 | | 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | CURRENT ASSETS | | | | | | |\n| 4 | Cash and cash equivalents | $ | 9,482 | | | $ | 8,246 |\n| 5 | Accounts receivable | 6,118 | | | 5,471 | | |\n| 6 | INVENTORIES | | | | | | |\n| 7 | Materials and supplies | 1,617 | | | 1,863 | | |\n| 8 | Work in process | 929 | | | 956 | | |\n| 9 | Finished goods | 4,470 | | | 4,254 | | |\n| 10 | Total inventories | 7,016 | | | 7,073 | | |\n| 11 | Prepaid expenses and other current assets | 2,095 | | | 1,858 | | |\n| 12 | TOTAL CURRENT ASSETS | 24,709 | | | 22,648 | | |\n| 13 | PROPERTY, PLANT AND EQUIPMENT, NET | 22,152 | | | 21,909 | | |\n| 14 | GOODWILL | 40,303 | | | 40,659 | | |\n| 15 | TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET | 22,047 | | | 23,783 | | |\n| 16 | OTHER NONCURRENT ASSETS | 13,158 | | | 11,830 | | |\n| 17 | TOTAL ASSETS | $ | 122,370 | | | $ | 120,829 |\n| 19 | Liabilities and Shareholders' Equity | | | | | | |\n| 20 | CURRENT LIABILITIES | | | | | | |\n| 21 | Accounts payable | $ | 15,364 | | | $ | 14,598 |\n| 22 | Accrued and other liabilities | 11,073 | | | 10,929 | | |\n| 23 | Debt due within one year | 7,191 | | | 10,229 | | |\n| 24 | TOTAL CURRENT LIABILITIES | 33,627 | | | 35,756 | | |\n| 25 | LONG-TERM DEBT | 25,269 | | | 24,378 | | |\n| 26 | DEFERRED INCOME TAXES | 6,516 | | | 6,478 | | |\n| 27 | OTHER NONCURRENT LIABILITIES | 6,398 | | | 7,152 | | |\n| 28 | TOTAL LIABILITIES | 71,811 | | | 73,764 | | |\n| 29 | SHAREHOLDERS' EQUITY | | | | | | |\n| 30 | Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) | 798 | | | 819 | | |\n| 31 | Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) | - | | | - | | |\n| 32 | Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2) | 4,009 | | | 4,009 | | |\n| 33 | Additional paid-in capital | 67,684 | | | 66,556 | | |\n| 34 | Reserve for ESOP debt retirement | (737) | | | (821) | | |\n| 35 | Accumulated other comprehensive loss | (11,900) | | | (12,220) | | |\n| 36 | Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1) | (133,379) | | | (129,736) | | |\n| 37 | Retained earnings | 123,811 | | | 118,170 | | |\n| 38 | Noncontrolling interest | 272 | | | 288 | | |\n| 39 | TOTAL SHAREHOLDERS' EQUITY | 50,559 | | | 47,065 | | |\n| 40 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 122,370 | | | $ | 120,829 |\n\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_with_headers":"PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 36: \n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, PROCTER & GAMBLE Co 10-K form for the fiscal year ended 2024-06-30, page 37: \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except stated values; as of June 30<\/td>2024<\/td><\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
CURRENT ASSETS<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/tr>
Accounts receivable<\/td>6,118 <\/td><\/td><\/td>5,471 <\/td><\/td><\/tr>
INVENTORIES<\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td>1,617 <\/td><\/td><\/td>1,863 <\/td><\/td><\/tr>
Work in process<\/td>929 <\/td><\/td><\/td>956 <\/td><\/td><\/tr>
Finished goods<\/td>4,470 <\/td><\/td><\/td>4,254 <\/td><\/td><\/tr>
Total inventories<\/td>7,016 <\/td><\/td><\/td>7,073 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>2,095 <\/td><\/td><\/td>1,858 <\/td><\/td><\/tr>
TOTAL CURRENT ASSETS<\/td>24,709 <\/td><\/td><\/td>22,648 <\/td><\/td><\/tr>
PROPERTY, PLANT AND EQUIPMENT, NET<\/td>22,152 <\/td><\/td><\/td>21,909 <\/td><\/td><\/tr>
GOODWILL<\/td>40,303 <\/td><\/td><\/td>40,659 <\/td><\/td><\/tr>
TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET<\/td>22,047 <\/td><\/td><\/td>23,783 <\/td><\/td><\/tr>
OTHER NONCURRENT ASSETS<\/td>13,158 <\/td><\/td><\/td>11,830 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
CURRENT LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>15,364 <\/td><\/td><\/td>$<\/td>14,598 <\/td><\/td><\/tr>
Accrued and other liabilities<\/td>11,073 <\/td><\/td><\/td>10,929 <\/td><\/td><\/tr>
Debt due within one year<\/td>7,191 <\/td><\/td><\/td>10,229 <\/td><\/td><\/tr>
TOTAL CURRENT LIABILITIES<\/td>33,627 <\/td><\/td><\/td>35,756 <\/td><\/td><\/tr>
LONG-TERM DEBT<\/td>25,269 <\/td><\/td><\/td>24,378 <\/td><\/td><\/tr>
DEFERRED INCOME TAXES<\/td>6,516 <\/td><\/td><\/td>6,478 <\/td><\/td><\/tr>
OTHER NONCURRENT LIABILITIES<\/td>6,398 <\/td><\/td><\/td>7,152 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td>71,811 <\/td><\/td><\/td>73,764 <\/td><\/td><\/tr>
SHAREHOLDERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Convertible Class A preferred stock, stated value $1 per share (600 shares authorized)<\/td>798 <\/td><\/td><\/td>819 <\/td><\/td><\/tr>
Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized)<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2)<\/td>4,009 <\/td><\/td><\/td>4,009 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>67,684 <\/td><\/td><\/td>66,556 <\/td><\/td><\/tr>
Reserve for ESOP debt retirement<\/td>(737)<\/td><\/td><\/td>(821)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,900)<\/td><\/td><\/td>(12,220)<\/td><\/td><\/tr>
Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1)<\/td>(133,379)<\/td><\/td><\/td>(129,736)<\/td><\/td><\/tr>
Retained earnings<\/td>123,811 <\/td><\/td><\/td>118,170 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>272 <\/td><\/td><\/td>288 <\/td><\/td><\/tr>
TOTAL SHAREHOLDERS' EQUITY<\/td>50,559 <\/td><\/td><\/td>47,065 <\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n","context_html_without_headers":"\n36 The Procter & Gamble Company\n\n\n\nConsolidated Statements of Earnings\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except per share amounts; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET SALES<\/td>$<\/td>84,039 <\/td><\/td><\/td>$<\/td>82,006 <\/td><\/td><\/td>$<\/td>80,187 <\/td><\/td><\/tr>
Cost of products sold<\/td>40,848 <\/td><\/td><\/td>42,760 <\/td><\/td><\/td>42,157 <\/td><\/td><\/tr>
Selling, general and administrative expense<\/td>23,305 <\/td><\/td><\/td>21,112 <\/td><\/td><\/td>20,217 <\/td><\/td><\/tr>
Indefinite-lived intangible asset impairment charge<\/td>1,341 <\/td><\/td><\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
OPERATING INCOME<\/td>18,545 <\/td><\/td><\/td>18,134 <\/td><\/td><\/td>17,813 <\/td><\/td><\/tr>
Interest expense<\/td>(925)<\/td><\/td><\/td>(756)<\/td><\/td><\/td>(439)<\/td><\/td><\/tr>
Interest income<\/td>473 <\/td><\/td><\/td>307 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
Other non-operating income, net<\/td>668 <\/td><\/td><\/td>668 <\/td><\/td><\/td>570 <\/td><\/td><\/tr>
EARNINGS BEFORE INCOME TAXES<\/td>18,761 <\/td><\/td><\/td>18,353 <\/td><\/td><\/td>17,995 <\/td><\/td><\/tr>
Income taxes<\/td>3,787 <\/td><\/td><\/td>3,615 <\/td><\/td><\/td>3,202 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS<\/td>14,974 <\/td><\/td><\/td>14,738 <\/td><\/td><\/td>14,793 <\/td><\/td><\/tr>
Less: Net earnings attributable to noncontrolling interests<\/td>95 <\/td><\/td><\/td>85 <\/td><\/td><\/td>51 <\/td><\/td><\/tr>
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>14,879 <\/td><\/td><\/td>$<\/td>14,653 <\/td><\/td><\/td>$<\/td>14,742 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
NET EARNINGS PER COMMON SHARE (1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.18 <\/td><\/td><\/td>$<\/td>6.07 <\/td><\/td><\/td>$<\/td>6.00 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.02 <\/td><\/td><\/td>$<\/td>5.90 <\/td><\/td><\/td>$<\/td>5.81 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>(1)Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.\n\nConsolidated Statements of Comprehensive Income\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions; fiscal years ended June 30<\/td>2024<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
NET EARNINGS<\/td>$<\/td>14,974 <\/td><\/td><\/td>$<\/td>14,738 <\/td><\/td><\/td>$<\/td>14,793 <\/td><\/td><\/tr>
OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Foreign currency translation (net of tax (benefit)\/expense of $66, $(197) and $515, respectively)<\/td>(226)<\/td><\/td><\/td>(71)<\/td><\/td><\/td>(1,450)<\/td><\/td><\/tr>
Unrealized gains\/(losses) on investment securities(net of tax (benefit)\/expense of $(1), $(2) and $1, respectively)<\/td>(3)<\/td><\/td><\/td>(7)<\/td><\/td><\/td>5 <\/td><\/td><\/tr>
Unrealized gains on defined benefit postretirement plans(net of tax expense of $230, $9 and $1,022, respectively)<\/td>546 <\/td><\/td><\/td>40 <\/td><\/td><\/td>2,992 <\/td><\/td><\/tr>
TOTAL OTHER COMPREHENSIVE INCOME\/(LOSS), NET OF TAX<\/td>317 <\/td><\/td><\/td>(38)<\/td><\/td><\/td>1,547 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME<\/td>15,291 <\/td><\/td><\/td>14,700 <\/td><\/td><\/td>16,340 <\/td><\/td><\/tr>
Less: Comprehensive income attributable to noncontrolling interests<\/td>92 <\/td><\/td><\/td>78 <\/td><\/td><\/td>43 <\/td><\/td><\/tr>
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE<\/td>$<\/td>15,199 <\/td><\/td><\/td>$<\/td>14,622 <\/td><\/td><\/td>$<\/td>16,297 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n, \nThe Procter & Gamble Company 37\n\n\n\nConsolidated Balance Sheets\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Amounts in millions except stated values; as of June 30<\/td>2024<\/td><\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
CURRENT ASSETS<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>9,482 <\/td><\/td><\/td>$<\/td>8,246 <\/td><\/td><\/tr>
Accounts receivable<\/td>6,118 <\/td><\/td><\/td>5,471 <\/td><\/td><\/tr>
INVENTORIES<\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td>1,617 <\/td><\/td><\/td>1,863 <\/td><\/td><\/tr>
Work in process<\/td>929 <\/td><\/td><\/td>956 <\/td><\/td><\/tr>
Finished goods<\/td>4,470 <\/td><\/td><\/td>4,254 <\/td><\/td><\/tr>
Total inventories<\/td>7,016 <\/td><\/td><\/td>7,073 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>2,095 <\/td><\/td><\/td>1,858 <\/td><\/td><\/tr>
TOTAL CURRENT ASSETS<\/td>24,709 <\/td><\/td><\/td>22,648 <\/td><\/td><\/tr>
PROPERTY, PLANT AND EQUIPMENT, NET<\/td>22,152 <\/td><\/td><\/td>21,909 <\/td><\/td><\/tr>
GOODWILL<\/td>40,303 <\/td><\/td><\/td>40,659 <\/td><\/td><\/tr>
TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET<\/td>22,047 <\/td><\/td><\/td>23,783 <\/td><\/td><\/tr>
OTHER NONCURRENT ASSETS<\/td>13,158 <\/td><\/td><\/td>11,830 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
CURRENT LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>15,364 <\/td><\/td><\/td>$<\/td>14,598 <\/td><\/td><\/tr>
Accrued and other liabilities<\/td>11,073 <\/td><\/td><\/td>10,929 <\/td><\/td><\/tr>
Debt due within one year<\/td>7,191 <\/td><\/td><\/td>10,229 <\/td><\/td><\/tr>
TOTAL CURRENT LIABILITIES<\/td>33,627 <\/td><\/td><\/td>35,756 <\/td><\/td><\/tr>
LONG-TERM DEBT<\/td>25,269 <\/td><\/td><\/td>24,378 <\/td><\/td><\/tr>
DEFERRED INCOME TAXES<\/td>6,516 <\/td><\/td><\/td>6,478 <\/td><\/td><\/tr>
OTHER NONCURRENT LIABILITIES<\/td>6,398 <\/td><\/td><\/td>7,152 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td>71,811 <\/td><\/td><\/td>73,764 <\/td><\/td><\/tr>
SHAREHOLDERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Convertible Class A preferred stock, stated value $1 per share (600 shares authorized)<\/td>798 <\/td><\/td><\/td>819 <\/td><\/td><\/tr>
Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized)<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2)<\/td>4,009 <\/td><\/td><\/td>4,009 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>67,684 <\/td><\/td><\/td>66,556 <\/td><\/td><\/tr>
Reserve for ESOP debt retirement<\/td>(737)<\/td><\/td><\/td>(821)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,900)<\/td><\/td><\/td>(12,220)<\/td><\/td><\/tr>
Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1)<\/td>(133,379)<\/td><\/td><\/td>(129,736)<\/td><\/td><\/tr>
Retained earnings<\/td>123,811 <\/td><\/td><\/td>118,170 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>272 <\/td><\/td><\/td>288 <\/td><\/td><\/tr>
TOTAL SHAREHOLDERS' EQUITY<\/td>50,559 <\/td><\/td><\/td>47,065 <\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td>$<\/td>122,370 <\/td><\/td><\/td>$<\/td>120,829 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements. \n\n\n\n\n\n"} +{"QID":"q_Ra033","Question":"What was the interest coverage ratio for NEE in 2023?","ground_truth_answer":"The interest coverage ratio is calculated by dividing earnings before interest and taxes (EBIT) by interest expense. For NEE in 2023, the operating income (EBIT) was $10,237 million, and the interest expense was $3,324 million. Therefore, the interest coverage ratio for NEE in 2023 is:\n\nInterest Coverage Ratio = EBIT \/ Interest Expense = $10,237 million \/ $3,324 million \u2248 3.08","question_type":"Ratio","page_number":60,"accession_number":"0000753308-24-000008","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NEXTERA ENERGY INC 10-K form for the fiscal year ended 2023-12-31, page 60: \nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(millions, except per share amounts)\n| | | | | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:-----|:-------------------------|:-------|:-------|:---|:-------|:--------|:---|:-------|\n| 1 | | | Years Ended December 31, | | | | | | | |\n| 2 | | 2023 | | 2022 | 2021 | | | | | |\n| 3 | OPERATING REVENUES | | $ | 28,114 | | $ | 20,956 | | $ | 17,069 |\n| 4 | OPERATING EXPENSES | | | | | | | | | |\n| 5 | Fuel, purchased power and interchange | | 5,457 | | 6,389 | | | 4,527 | | |\n| 6 | Other operations and maintenance | | 4,681 | | 4,428 | | | 3,981 | | |\n| 10 | Depreciation and amortization | | 5,879 | | 4,503 | | | 3,924 | | |\n| 11 | Taxes other than income taxes and other \u2013 net | | 2,265 | | 2,077 | | | 1,801 | | |\n| 12 | Total operating expenses \u2013 net | | 18,282 | | 17,397 | | | 14,233 | | |\n| 13 | GAINS ON DISPOSAL OF BUSINESSES\/ASSETS \u2013 NET | | 405 | | 522 | | | 77 | | |\n| 14 | OPERATING INCOME | | 10,237 | | 4,081 | | | 2,913 | | |\n| 15 | OTHER INCOME (DEDUCTIONS) | | | | | | | | | |\n| 16 | Interest expense | | (3,324) | | (585) | | | (1,270) | | |\n| 18 | Equity in earnings (losses) of equity method investees | | (648) | | 203 | | | 666 | | |\n| 19 | Allowance for equity funds used during construction | | 161 | | 112 | | | 142 | | |\n| 21 | Gains on disposal of investments and other property \u2013 net | | 125 | | 80 | | | 70 | | |\n| 22 | Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds \u2013 net | | 159 | | (461) | | | 267 | | |\n| 23 | Other net periodic benefit income | | 245 | | 202 | | | 257 | | |\n| 24 | Other \u2013 net | | 333 | | 200 | | | 130 | | |\n| 25 | Total other income (deductions) \u2013 net | | (2,949) | | (249) | | | 262 | | |\n| 26 | INCOME BEFORE INCOME TAXES | | 7,288 | | 3,832 | | | 3,175 | | |\n| 27 | INCOME TAXES | | 1,006 | | 586 | | | 348 | | |\n| 28 | NET INCOME | | 6,282 | | 3,246 | | | 2,827 | | |\n| 29 | NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | | 1,028 | | 901 | | | 746 | | |\n| 30 | NET INCOME ATTRIBUTABLE TO NEE | | $ | 7,310 | | $ | 4,147 | | $ | 3,573 |\n| 31 | Earnings per share attributable to NEE: | | | | | | | | | |\n| 32 | Basic | | $ | 3.61 | | $ | 2.10 | | $ | 1.82 |\n| 33 | Assuming dilution | | $ | 3.60 | | $ | 2.10 | | $ | 1.81 |\n\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n60\n\n\n\n\n","context_markdown_without_headers":"\nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(millions, except per share amounts)\n| | | | | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:-----|:-------------------------|:-------|:-------|:---|:-------|:--------|:---|:-------|\n| 1 | | | Years Ended December 31, | | | | | | | |\n| 2 | | 2023 | | 2022 | 2021 | | | | | |\n| 3 | OPERATING REVENUES | | $ | 28,114 | | $ | 20,956 | | $ | 17,069 |\n| 4 | OPERATING EXPENSES | | | | | | | | | |\n| 5 | Fuel, purchased power and interchange | | 5,457 | | 6,389 | | | 4,527 | | |\n| 6 | Other operations and maintenance | | 4,681 | | 4,428 | | | 3,981 | | |\n| 10 | Depreciation and amortization | | 5,879 | | 4,503 | | | 3,924 | | |\n| 11 | Taxes other than income taxes and other \u2013 net | | 2,265 | | 2,077 | | | 1,801 | | |\n| 12 | Total operating expenses \u2013 net | | 18,282 | | 17,397 | | | 14,233 | | |\n| 13 | GAINS ON DISPOSAL OF BUSINESSES\/ASSETS \u2013 NET | | 405 | | 522 | | | 77 | | |\n| 14 | OPERATING INCOME | | 10,237 | | 4,081 | | | 2,913 | | |\n| 15 | OTHER INCOME (DEDUCTIONS) | | | | | | | | | |\n| 16 | Interest expense | | (3,324) | | (585) | | | (1,270) | | |\n| 18 | Equity in earnings (losses) of equity method investees | | (648) | | 203 | | | 666 | | |\n| 19 | Allowance for equity funds used during construction | | 161 | | 112 | | | 142 | | |\n| 21 | Gains on disposal of investments and other property \u2013 net | | 125 | | 80 | | | 70 | | |\n| 22 | Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds \u2013 net | | 159 | | (461) | | | 267 | | |\n| 23 | Other net periodic benefit income | | 245 | | 202 | | | 257 | | |\n| 24 | Other \u2013 net | | 333 | | 200 | | | 130 | | |\n| 25 | Total other income (deductions) \u2013 net | | (2,949) | | (249) | | | 262 | | |\n| 26 | INCOME BEFORE INCOME TAXES | | 7,288 | | 3,832 | | | 3,175 | | |\n| 27 | INCOME TAXES | | 1,006 | | 586 | | | 348 | | |\n| 28 | NET INCOME | | 6,282 | | 3,246 | | | 2,827 | | |\n| 29 | NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | | 1,028 | | 901 | | | 746 | | |\n| 30 | NET INCOME ATTRIBUTABLE TO NEE | | $ | 7,310 | | $ | 4,147 | | $ | 3,573 |\n| 31 | Earnings per share attributable to NEE: | | | | | | | | | |\n| 32 | Basic | | $ | 3.61 | | $ | 2.10 | | $ | 1.82 |\n| 33 | Assuming dilution | | $ | 3.60 | | $ | 2.10 | | $ | 1.81 |\n\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n60\n\n\n\n\n","context_html_with_headers":"NEXTERA ENERGY INC 10-K form for the fiscal year ended 2023-12-31, page 60: \nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(millions, except per share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td>Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
OPERATING REVENUES<\/td><\/td>$<\/td>28,114 <\/td><\/td><\/td>$<\/td>20,956 <\/td><\/td><\/td>$<\/td>17,069 <\/td><\/td><\/tr>
OPERATING EXPENSES<\/td><\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Fuel, purchased power and interchange<\/td><\/td>5,457 <\/td><\/td><\/td>6,389 <\/td><\/td><\/td>4,527 <\/td><\/td><\/tr>
Other operations and maintenance<\/td><\/td>4,681 <\/td><\/td><\/td>4,428 <\/td><\/td><\/td>3,981 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td><\/td>5,879 <\/td><\/td><\/td>4,503 <\/td><\/td><\/td>3,924 <\/td><\/td><\/tr>
Taxes other than income taxes and other \u2013 net<\/td><\/td>2,265 <\/td><\/td><\/td>2,077 <\/td><\/td><\/td>1,801 <\/td><\/td><\/tr>
Total operating expenses \u2013 net<\/td><\/td>18,282 <\/td><\/td><\/td>17,397 <\/td><\/td><\/td>14,233 <\/td><\/td><\/tr>
GAINS ON DISPOSAL OF BUSINESSES\/ASSETS \u2013 NET<\/td><\/td>405 <\/td><\/td><\/td>522 <\/td><\/td><\/td>77 <\/td><\/td><\/tr>
OPERATING INCOME<\/td><\/td>10,237 <\/td><\/td><\/td>4,081 <\/td><\/td><\/td>2,913 <\/td><\/td><\/tr>
OTHER INCOME (DEDUCTIONS)<\/td><\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Interest expense<\/td><\/td>(3,324)<\/td><\/td><\/td>(585)<\/td><\/td><\/td>(1,270)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Equity in earnings (losses) of equity method investees<\/td><\/td>(648)<\/td><\/td><\/td>203 <\/td><\/td><\/td>666 <\/td><\/td><\/tr>
Allowance for equity funds used during construction<\/td><\/td>161 <\/td><\/td><\/td>112 <\/td><\/td><\/td>142 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Gains on disposal of investments and other property \u2013 net<\/td><\/td>125 <\/td><\/td><\/td>80 <\/td><\/td><\/td>70 <\/td><\/td><\/tr>
Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds \u2013 net<\/td><\/td>159 <\/td><\/td><\/td>(461)<\/td><\/td><\/td>267 <\/td><\/td><\/tr>
Other net periodic benefit income<\/td><\/td>245 <\/td><\/td><\/td>202 <\/td><\/td><\/td>257 <\/td><\/td><\/tr>
Other \u2013 net<\/td><\/td>333 <\/td><\/td><\/td>200 <\/td><\/td><\/td>130 <\/td><\/td><\/tr>
Total other income (deductions) \u2013 net<\/td><\/td>(2,949)<\/td><\/td><\/td>(249)<\/td><\/td><\/td>262 <\/td><\/td><\/tr>
INCOME BEFORE INCOME TAXES<\/td><\/td>7,288 <\/td><\/td><\/td>3,832 <\/td><\/td><\/td>3,175 <\/td><\/td><\/tr>
INCOME TAXES<\/td><\/td>1,006 <\/td><\/td><\/td>586 <\/td><\/td><\/td>348 <\/td><\/td><\/tr>
NET INCOME<\/td><\/td>6,282 <\/td><\/td><\/td>3,246 <\/td><\/td><\/td>2,827 <\/td><\/td><\/tr>
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS<\/td><\/td>1,028 <\/td><\/td><\/td>901 <\/td><\/td><\/td>746 <\/td><\/td><\/tr>
NET INCOME ATTRIBUTABLE TO NEE<\/td><\/td>$<\/td>7,310 <\/td><\/td><\/td>$<\/td>4,147 <\/td><\/td><\/td>$<\/td>3,573 <\/td><\/td><\/tr>
Earnings per share attributable to NEE:<\/td><\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Basic<\/td><\/td>$<\/td>3.61 <\/td><\/td><\/td>$<\/td>2.10 <\/td><\/td><\/td>$<\/td>1.82 <\/td><\/td><\/tr>
Assuming dilution<\/td><\/td>$<\/td>3.60 <\/td><\/td><\/td>$<\/td>2.10 <\/td><\/td><\/td>$<\/td>1.81 <\/td><\/td><\/tr><\/table>\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n60\n\n\n\n\n","context_html_without_headers":"\nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(millions, except per share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td>Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
OPERATING REVENUES<\/td><\/td>$<\/td>28,114 <\/td><\/td><\/td>$<\/td>20,956 <\/td><\/td><\/td>$<\/td>17,069 <\/td><\/td><\/tr>
OPERATING EXPENSES<\/td><\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Fuel, purchased power and interchange<\/td><\/td>5,457 <\/td><\/td><\/td>6,389 <\/td><\/td><\/td>4,527 <\/td><\/td><\/tr>
Other operations and maintenance<\/td><\/td>4,681 <\/td><\/td><\/td>4,428 <\/td><\/td><\/td>3,981 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td><\/td>5,879 <\/td><\/td><\/td>4,503 <\/td><\/td><\/td>3,924 <\/td><\/td><\/tr>
Taxes other than income taxes and other \u2013 net<\/td><\/td>2,265 <\/td><\/td><\/td>2,077 <\/td><\/td><\/td>1,801 <\/td><\/td><\/tr>
Total operating expenses \u2013 net<\/td><\/td>18,282 <\/td><\/td><\/td>17,397 <\/td><\/td><\/td>14,233 <\/td><\/td><\/tr>
GAINS ON DISPOSAL OF BUSINESSES\/ASSETS \u2013 NET<\/td><\/td>405 <\/td><\/td><\/td>522 <\/td><\/td><\/td>77 <\/td><\/td><\/tr>
OPERATING INCOME<\/td><\/td>10,237 <\/td><\/td><\/td>4,081 <\/td><\/td><\/td>2,913 <\/td><\/td><\/tr>
OTHER INCOME (DEDUCTIONS)<\/td><\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Interest expense<\/td><\/td>(3,324)<\/td><\/td><\/td>(585)<\/td><\/td><\/td>(1,270)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Equity in earnings (losses) of equity method investees<\/td><\/td>(648)<\/td><\/td><\/td>203 <\/td><\/td><\/td>666 <\/td><\/td><\/tr>
Allowance for equity funds used during construction<\/td><\/td>161 <\/td><\/td><\/td>112 <\/td><\/td><\/td>142 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Gains on disposal of investments and other property \u2013 net<\/td><\/td>125 <\/td><\/td><\/td>80 <\/td><\/td><\/td>70 <\/td><\/td><\/tr>
Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds \u2013 net<\/td><\/td>159 <\/td><\/td><\/td>(461)<\/td><\/td><\/td>267 <\/td><\/td><\/tr>
Other net periodic benefit income<\/td><\/td>245 <\/td><\/td><\/td>202 <\/td><\/td><\/td>257 <\/td><\/td><\/tr>
Other \u2013 net<\/td><\/td>333 <\/td><\/td><\/td>200 <\/td><\/td><\/td>130 <\/td><\/td><\/tr>
Total other income (deductions) \u2013 net<\/td><\/td>(2,949)<\/td><\/td><\/td>(249)<\/td><\/td><\/td>262 <\/td><\/td><\/tr>
INCOME BEFORE INCOME TAXES<\/td><\/td>7,288 <\/td><\/td><\/td>3,832 <\/td><\/td><\/td>3,175 <\/td><\/td><\/tr>
INCOME TAXES<\/td><\/td>1,006 <\/td><\/td><\/td>586 <\/td><\/td><\/td>348 <\/td><\/td><\/tr>
NET INCOME<\/td><\/td>6,282 <\/td><\/td><\/td>3,246 <\/td><\/td><\/td>2,827 <\/td><\/td><\/tr>
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS<\/td><\/td>1,028 <\/td><\/td><\/td>901 <\/td><\/td><\/td>746 <\/td><\/td><\/tr>
NET INCOME ATTRIBUTABLE TO NEE<\/td><\/td>$<\/td>7,310 <\/td><\/td><\/td>$<\/td>4,147 <\/td><\/td><\/td>$<\/td>3,573 <\/td><\/td><\/tr>
Earnings per share attributable to NEE:<\/td><\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Basic<\/td><\/td>$<\/td>3.61 <\/td><\/td><\/td>$<\/td>2.10 <\/td><\/td><\/td>$<\/td>1.82 <\/td><\/td><\/tr>
Assuming dilution<\/td><\/td>$<\/td>3.60 <\/td><\/td><\/td>$<\/td>2.10 <\/td><\/td><\/td>$<\/td>1.81 <\/td><\/td><\/tr><\/table>\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n60\n\n\n\n\n"} +{"QID":"q_Ra034","Question":"What was the current ratio for NEE in 2023?","ground_truth_answer":"The current ratio is calculated by dividing total current assets by total current liabilities. For NEE in 2023, the total current assets were $15,361 million, and the total current liabilities were $27,963 million. Therefore, the current ratio for NEE in 2023 is:\n\nCurrent Ratio = Total Current Assets \/ Total Current Liabilities = $15,361 million \/ $27,963 million \u2248 0.55","question_type":"Ratio","page_number":62,"accession_number":"0000753308-24-000008","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NEXTERA ENERGY INC 10-K form for the fiscal year ended 2023-12-31, page 62: \nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(millions, except par value)\n| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:--------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets: | | | | | | |\n| 5 | Cash and cash equivalents | $ | 2,690 | | | $ | 1,601 |\n| 6 | Customer receivables, net of allowances of $52 and $54, respectively | 3,609 | | | 4,349 | | |\n| 7 | Other receivables | 944 | | | 744 | | |\n| 8 | Materials, supplies and fuel inventory | 2,106 | | | 1,934 | | |\n| 9 | Regulatory assets | 1,460 | | | 2,165 | | |\n| 10 | Derivatives | 1,730 | | | 1,590 | | |\n| 12 | Contract assets | 1,487 | | | 318 | | |\n| 13 | Other | 1,335 | | | 789 | | |\n| 14 | Total current assets | 15,361 | | | 13,490 | | |\n| 15 | Other assets: | | | | | | |\n| 16 | Property, plant and equipment \u2013 net ($26,900 and $22,927 related to VIEs, respectively) | 125,776 | | | 111,059 | | |\n| 17 | Special use funds | 8,698 | | | 7,496 | | |\n| 18 | Investment in equity method investees | 6,156 | | | 6,582 | | |\n| 19 | Prepaid benefit costs | 2,112 | | | 1,832 | | |\n| 20 | Regulatory assets | 4,801 | | | 5,992 | | |\n| 21 | Derivatives | 1,790 | | | 1,935 | | |\n| 22 | Goodwill | 5,091 | | | 4,854 | | |\n| 23 | Other | 7,704 | | | 5,695 | | |\n| 24 | Total other assets | 162,128 | | | 145,445 | | |\n| 25 | TOTAL ASSETS | $ | 177,489 | | | $ | 158,935 |\n| 26 | LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | | | | | | |\n| 27 | Current liabilities: | | | | | | |\n| 28 | Commercial paper | $ | 4,650 | | | $ | 1,709 |\n| 29 | Other short-term debt | 255 | | | 1,368 | | |\n| 30 | Current portion of long-term debt ($66 and $61 related to VIEs, respectively) | 6,901 | | | 6,633 | | |\n| 31 | Accounts payable ($1,718 and $1,250 related to VIEs, respectively) | 8,504 | | | 8,312 | | |\n| 32 | Customer deposits | 638 | | | 560 | | |\n| 33 | Accrued interest and taxes | 970 | | | 719 | | |\n| 34 | Derivatives | 845 | | | 2,102 | | |\n| 35 | Accrued construction-related expenditures | 1,861 | | | 1,760 | | |\n| 36 | Regulatory liabilities | 340 | | | 350 | | |\n| 38 | Other | 2,999 | | | 3,182 | | |\n| 39 | Total current liabilities | 27,963 | | | 26,695 | | |\n| 40 | Other liabilities and deferred credits: | | | | | | |\n| 41 | Long-term debt ($1,374 and $1,108 related to VIEs, respectively) | 61,405 | | | 55,256 | | |\n| 42 | Asset retirement obligations | 3,403 | | | 3,245 | | |\n| 43 | Deferred income taxes | 10,142 | | | 9,072 | | |\n| 44 | Regulatory liabilities | 10,049 | | | 9,626 | | |\n| 45 | Derivatives | 2,741 | | | 2,909 | | |\n| 47 | Other | 2,762 | | | 2,696 | | |\n| 48 | Total other liabilities and deferred credits | 90,502 | | | 82,804 | | |\n| 49 | TOTAL LIABILITIES | 118,465 | | | 109,499 | | |\n| 50 | COMMITMENTS AND CONTINGENCIES | | | | | | |\n| 51 | REDEEMABLE NONCONTROLLING INTERESTS \u2013 VIEs | 1,256 | | | 1,110 | | |\n| 52 | EQUITY | | | | | | |\n| 53 | Common stock ($0.01 par value, authorized shares \u2013 3,200; outstanding shares \u2013 2,052 and 1,987, respectively) | 21 | | | 20 | | |\n| 54 | Additional paid-in capital | 17,365 | | | 12,720 | | |\n| 55 | Retained earnings | 30,235 | | | 26,707 | | |\n| 56 | Accumulated other comprehensive loss | (153) | | | (218) | | |\n| 57 | Total common shareholders' equity | 47,468 | | | 39,229 | | |\n| 58 | Noncontrolling interests ($10,180 and $9,092 related to VIEs, respectively) | 10,300 | | | 9,097 | | |\n| 59 | TOTAL EQUITY | 57,768 | | | 48,326 | | |\n| 60 | TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | $ | 177,489 | | | $ | 158,935 |\n\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n62\n\n\n\n\n","context_markdown_without_headers":"\nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(millions, except par value)\n| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:--------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets: | | | | | | |\n| 5 | Cash and cash equivalents | $ | 2,690 | | | $ | 1,601 |\n| 6 | Customer receivables, net of allowances of $52 and $54, respectively | 3,609 | | | 4,349 | | |\n| 7 | Other receivables | 944 | | | 744 | | |\n| 8 | Materials, supplies and fuel inventory | 2,106 | | | 1,934 | | |\n| 9 | Regulatory assets | 1,460 | | | 2,165 | | |\n| 10 | Derivatives | 1,730 | | | 1,590 | | |\n| 12 | Contract assets | 1,487 | | | 318 | | |\n| 13 | Other | 1,335 | | | 789 | | |\n| 14 | Total current assets | 15,361 | | | 13,490 | | |\n| 15 | Other assets: | | | | | | |\n| 16 | Property, plant and equipment \u2013 net ($26,900 and $22,927 related to VIEs, respectively) | 125,776 | | | 111,059 | | |\n| 17 | Special use funds | 8,698 | | | 7,496 | | |\n| 18 | Investment in equity method investees | 6,156 | | | 6,582 | | |\n| 19 | Prepaid benefit costs | 2,112 | | | 1,832 | | |\n| 20 | Regulatory assets | 4,801 | | | 5,992 | | |\n| 21 | Derivatives | 1,790 | | | 1,935 | | |\n| 22 | Goodwill | 5,091 | | | 4,854 | | |\n| 23 | Other | 7,704 | | | 5,695 | | |\n| 24 | Total other assets | 162,128 | | | 145,445 | | |\n| 25 | TOTAL ASSETS | $ | 177,489 | | | $ | 158,935 |\n| 26 | LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | | | | | | |\n| 27 | Current liabilities: | | | | | | |\n| 28 | Commercial paper | $ | 4,650 | | | $ | 1,709 |\n| 29 | Other short-term debt | 255 | | | 1,368 | | |\n| 30 | Current portion of long-term debt ($66 and $61 related to VIEs, respectively) | 6,901 | | | 6,633 | | |\n| 31 | Accounts payable ($1,718 and $1,250 related to VIEs, respectively) | 8,504 | | | 8,312 | | |\n| 32 | Customer deposits | 638 | | | 560 | | |\n| 33 | Accrued interest and taxes | 970 | | | 719 | | |\n| 34 | Derivatives | 845 | | | 2,102 | | |\n| 35 | Accrued construction-related expenditures | 1,861 | | | 1,760 | | |\n| 36 | Regulatory liabilities | 340 | | | 350 | | |\n| 38 | Other | 2,999 | | | 3,182 | | |\n| 39 | Total current liabilities | 27,963 | | | 26,695 | | |\n| 40 | Other liabilities and deferred credits: | | | | | | |\n| 41 | Long-term debt ($1,374 and $1,108 related to VIEs, respectively) | 61,405 | | | 55,256 | | |\n| 42 | Asset retirement obligations | 3,403 | | | 3,245 | | |\n| 43 | Deferred income taxes | 10,142 | | | 9,072 | | |\n| 44 | Regulatory liabilities | 10,049 | | | 9,626 | | |\n| 45 | Derivatives | 2,741 | | | 2,909 | | |\n| 47 | Other | 2,762 | | | 2,696 | | |\n| 48 | Total other liabilities and deferred credits | 90,502 | | | 82,804 | | |\n| 49 | TOTAL LIABILITIES | 118,465 | | | 109,499 | | |\n| 50 | COMMITMENTS AND CONTINGENCIES | | | | | | |\n| 51 | REDEEMABLE NONCONTROLLING INTERESTS \u2013 VIEs | 1,256 | | | 1,110 | | |\n| 52 | EQUITY | | | | | | |\n| 53 | Common stock ($0.01 par value, authorized shares \u2013 3,200; outstanding shares \u2013 2,052 and 1,987, respectively) | 21 | | | 20 | | |\n| 54 | Additional paid-in capital | 17,365 | | | 12,720 | | |\n| 55 | Retained earnings | 30,235 | | | 26,707 | | |\n| 56 | Accumulated other comprehensive loss | (153) | | | (218) | | |\n| 57 | Total common shareholders' equity | 47,468 | | | 39,229 | | |\n| 58 | Noncontrolling interests ($10,180 and $9,092 related to VIEs, respectively) | 10,300 | | | 9,097 | | |\n| 59 | TOTAL EQUITY | 57,768 | | | 48,326 | | |\n| 60 | TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | $ | 177,489 | | | $ | 158,935 |\n\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n62\n\n\n\n\n","context_html_with_headers":"NEXTERA ENERGY INC 10-K form for the fiscal year ended 2023-12-31, page 62: \nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(millions, except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td>December 31,<\/td><\/tr>
<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
ASSETS<\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td><\/td>$<\/td>2,690 <\/td><\/td><\/td>$<\/td>1,601 <\/td><\/td><\/tr>
Customer receivables, net of allowances of $52 and $54, respectively<\/td><\/td>3,609 <\/td><\/td><\/td>4,349 <\/td><\/td><\/tr>
Other receivables<\/td><\/td>944 <\/td><\/td><\/td>744 <\/td><\/td><\/tr>
Materials, supplies and fuel inventory<\/td><\/td>2,106 <\/td><\/td><\/td>1,934 <\/td><\/td><\/tr>
Regulatory assets<\/td><\/td>1,460 <\/td><\/td><\/td>2,165 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>1,730 <\/td><\/td><\/td>1,590 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Contract assets<\/td><\/td>1,487 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Other<\/td><\/td>1,335 <\/td><\/td><\/td>789 <\/td><\/td><\/tr>
Total current assets<\/td><\/td>15,361 <\/td><\/td><\/td>13,490 <\/td><\/td><\/tr>
Other assets:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Property, plant and equipment \u2013 net ($26,900 and $22,927 related to VIEs, respectively)<\/td><\/td>125,776 <\/td><\/td><\/td>111,059 <\/td><\/td><\/tr>
Special use funds<\/td><\/td>8,698 <\/td><\/td><\/td>7,496 <\/td><\/td><\/tr>
Investment in equity method investees<\/td><\/td>6,156 <\/td><\/td><\/td>6,582 <\/td><\/td><\/tr>
Prepaid benefit costs<\/td><\/td>2,112 <\/td><\/td><\/td>1,832 <\/td><\/td><\/tr>
Regulatory assets<\/td><\/td>4,801 <\/td><\/td><\/td>5,992 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>1,790 <\/td><\/td><\/td>1,935 <\/td><\/td><\/tr>
Goodwill<\/td><\/td>5,091 <\/td><\/td><\/td>4,854 <\/td><\/td><\/tr>
Other<\/td><\/td>7,704 <\/td><\/td><\/td>5,695 <\/td><\/td><\/tr>
Total other assets<\/td><\/td>162,128 <\/td><\/td><\/td>145,445 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td><\/td>$<\/td>177,489 <\/td><\/td><\/td>$<\/td>158,935 <\/td><\/td><\/tr>
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY<\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Commercial paper<\/td><\/td>$<\/td>4,650 <\/td><\/td><\/td>$<\/td>1,709 <\/td><\/td><\/tr>
Other short-term debt<\/td><\/td>255 <\/td><\/td><\/td>1,368 <\/td><\/td><\/tr>
Current portion of long-term debt ($66 and $61 related to VIEs, respectively)<\/td><\/td>6,901 <\/td><\/td><\/td>6,633 <\/td><\/td><\/tr>
Accounts payable ($1,718 and $1,250 related to VIEs, respectively)<\/td><\/td>8,504 <\/td><\/td><\/td>8,312 <\/td><\/td><\/tr>
Customer deposits<\/td><\/td>638 <\/td><\/td><\/td>560 <\/td><\/td><\/tr>
Accrued interest and taxes<\/td><\/td>970 <\/td><\/td><\/td>719 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>845 <\/td><\/td><\/td>2,102 <\/td><\/td><\/tr>
Accrued construction-related expenditures<\/td><\/td>1,861 <\/td><\/td><\/td>1,760 <\/td><\/td><\/tr>
Regulatory liabilities<\/td><\/td>340 <\/td><\/td><\/td>350 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td><\/td>2,999 <\/td><\/td><\/td>3,182 <\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>27,963 <\/td><\/td><\/td>26,695 <\/td><\/td><\/tr>
Other liabilities and deferred credits:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Long-term debt ($1,374 and $1,108 related to VIEs, respectively)<\/td><\/td>61,405 <\/td><\/td><\/td>55,256 <\/td><\/td><\/tr>
Asset retirement obligations<\/td><\/td>3,403 <\/td><\/td><\/td>3,245 <\/td><\/td><\/tr>
Deferred income taxes<\/td><\/td>10,142 <\/td><\/td><\/td>9,072 <\/td><\/td><\/tr>
Regulatory liabilities<\/td><\/td>10,049 <\/td><\/td><\/td>9,626 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>2,741 <\/td><\/td><\/td>2,909 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td><\/td>2,762 <\/td><\/td><\/td>2,696 <\/td><\/td><\/tr>
Total other liabilities and deferred credits<\/td><\/td>90,502 <\/td><\/td><\/td>82,804 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td><\/td>118,465 <\/td><\/td><\/td>109,499 <\/td><\/td><\/tr>
COMMITMENTS AND CONTINGENCIES<\/td><\/td><\/td><\/td><\/td><\/tr>
REDEEMABLE NONCONTROLLING INTERESTS \u2013 VIEs<\/td><\/td>1,256 <\/td><\/td><\/td>1,110 <\/td><\/td><\/tr>
EQUITY<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Common stock ($0.01 par value, authorized shares \u2013 3,200; outstanding shares \u2013 2,052 and 1,987, respectively)<\/td><\/td>21 <\/td><\/td><\/td>20 <\/td><\/td><\/tr>
Additional paid-in capital<\/td><\/td>17,365 <\/td><\/td><\/td>12,720 <\/td><\/td><\/tr>
Retained earnings<\/td><\/td>30,235 <\/td><\/td><\/td>26,707 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td><\/td>(153)<\/td><\/td><\/td>(218)<\/td><\/td><\/tr>
Total common shareholders' equity<\/td><\/td>47,468 <\/td><\/td><\/td>39,229 <\/td><\/td><\/tr>
Noncontrolling interests ($10,180 and $9,092 related to VIEs, respectively)<\/td><\/td>10,300 <\/td><\/td><\/td>9,097 <\/td><\/td><\/tr>
TOTAL EQUITY<\/td><\/td>57,768 <\/td><\/td><\/td>48,326 <\/td><\/td><\/tr>
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY<\/td><\/td>$<\/td>177,489 <\/td><\/td><\/td>$<\/td>158,935 <\/td><\/td><\/tr><\/table>\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n62\n\n\n\n\n","context_html_without_headers":"\nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(millions, except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td>December 31,<\/td><\/tr>
<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
ASSETS<\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td><\/td>$<\/td>2,690 <\/td><\/td><\/td>$<\/td>1,601 <\/td><\/td><\/tr>
Customer receivables, net of allowances of $52 and $54, respectively<\/td><\/td>3,609 <\/td><\/td><\/td>4,349 <\/td><\/td><\/tr>
Other receivables<\/td><\/td>944 <\/td><\/td><\/td>744 <\/td><\/td><\/tr>
Materials, supplies and fuel inventory<\/td><\/td>2,106 <\/td><\/td><\/td>1,934 <\/td><\/td><\/tr>
Regulatory assets<\/td><\/td>1,460 <\/td><\/td><\/td>2,165 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>1,730 <\/td><\/td><\/td>1,590 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Contract assets<\/td><\/td>1,487 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Other<\/td><\/td>1,335 <\/td><\/td><\/td>789 <\/td><\/td><\/tr>
Total current assets<\/td><\/td>15,361 <\/td><\/td><\/td>13,490 <\/td><\/td><\/tr>
Other assets:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Property, plant and equipment \u2013 net ($26,900 and $22,927 related to VIEs, respectively)<\/td><\/td>125,776 <\/td><\/td><\/td>111,059 <\/td><\/td><\/tr>
Special use funds<\/td><\/td>8,698 <\/td><\/td><\/td>7,496 <\/td><\/td><\/tr>
Investment in equity method investees<\/td><\/td>6,156 <\/td><\/td><\/td>6,582 <\/td><\/td><\/tr>
Prepaid benefit costs<\/td><\/td>2,112 <\/td><\/td><\/td>1,832 <\/td><\/td><\/tr>
Regulatory assets<\/td><\/td>4,801 <\/td><\/td><\/td>5,992 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>1,790 <\/td><\/td><\/td>1,935 <\/td><\/td><\/tr>
Goodwill<\/td><\/td>5,091 <\/td><\/td><\/td>4,854 <\/td><\/td><\/tr>
Other<\/td><\/td>7,704 <\/td><\/td><\/td>5,695 <\/td><\/td><\/tr>
Total other assets<\/td><\/td>162,128 <\/td><\/td><\/td>145,445 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td><\/td>$<\/td>177,489 <\/td><\/td><\/td>$<\/td>158,935 <\/td><\/td><\/tr>
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY<\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Commercial paper<\/td><\/td>$<\/td>4,650 <\/td><\/td><\/td>$<\/td>1,709 <\/td><\/td><\/tr>
Other short-term debt<\/td><\/td>255 <\/td><\/td><\/td>1,368 <\/td><\/td><\/tr>
Current portion of long-term debt ($66 and $61 related to VIEs, respectively)<\/td><\/td>6,901 <\/td><\/td><\/td>6,633 <\/td><\/td><\/tr>
Accounts payable ($1,718 and $1,250 related to VIEs, respectively)<\/td><\/td>8,504 <\/td><\/td><\/td>8,312 <\/td><\/td><\/tr>
Customer deposits<\/td><\/td>638 <\/td><\/td><\/td>560 <\/td><\/td><\/tr>
Accrued interest and taxes<\/td><\/td>970 <\/td><\/td><\/td>719 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>845 <\/td><\/td><\/td>2,102 <\/td><\/td><\/tr>
Accrued construction-related expenditures<\/td><\/td>1,861 <\/td><\/td><\/td>1,760 <\/td><\/td><\/tr>
Regulatory liabilities<\/td><\/td>340 <\/td><\/td><\/td>350 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td><\/td>2,999 <\/td><\/td><\/td>3,182 <\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>27,963 <\/td><\/td><\/td>26,695 <\/td><\/td><\/tr>
Other liabilities and deferred credits:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Long-term debt ($1,374 and $1,108 related to VIEs, respectively)<\/td><\/td>61,405 <\/td><\/td><\/td>55,256 <\/td><\/td><\/tr>
Asset retirement obligations<\/td><\/td>3,403 <\/td><\/td><\/td>3,245 <\/td><\/td><\/tr>
Deferred income taxes<\/td><\/td>10,142 <\/td><\/td><\/td>9,072 <\/td><\/td><\/tr>
Regulatory liabilities<\/td><\/td>10,049 <\/td><\/td><\/td>9,626 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>2,741 <\/td><\/td><\/td>2,909 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td><\/td>2,762 <\/td><\/td><\/td>2,696 <\/td><\/td><\/tr>
Total other liabilities and deferred credits<\/td><\/td>90,502 <\/td><\/td><\/td>82,804 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td><\/td>118,465 <\/td><\/td><\/td>109,499 <\/td><\/td><\/tr>
COMMITMENTS AND CONTINGENCIES<\/td><\/td><\/td><\/td><\/td><\/tr>
REDEEMABLE NONCONTROLLING INTERESTS \u2013 VIEs<\/td><\/td>1,256 <\/td><\/td><\/td>1,110 <\/td><\/td><\/tr>
EQUITY<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Common stock ($0.01 par value, authorized shares \u2013 3,200; outstanding shares \u2013 2,052 and 1,987, respectively)<\/td><\/td>21 <\/td><\/td><\/td>20 <\/td><\/td><\/tr>
Additional paid-in capital<\/td><\/td>17,365 <\/td><\/td><\/td>12,720 <\/td><\/td><\/tr>
Retained earnings<\/td><\/td>30,235 <\/td><\/td><\/td>26,707 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td><\/td>(153)<\/td><\/td><\/td>(218)<\/td><\/td><\/tr>
Total common shareholders' equity<\/td><\/td>47,468 <\/td><\/td><\/td>39,229 <\/td><\/td><\/tr>
Noncontrolling interests ($10,180 and $9,092 related to VIEs, respectively)<\/td><\/td>10,300 <\/td><\/td><\/td>9,097 <\/td><\/td><\/tr>
TOTAL EQUITY<\/td><\/td>57,768 <\/td><\/td><\/td>48,326 <\/td><\/td><\/tr>
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY<\/td><\/td>$<\/td>177,489 <\/td><\/td><\/td>$<\/td>158,935 <\/td><\/td><\/tr><\/table>\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n62\n\n\n\n\n"} +{"QID":"q_Ra035","Question":"What was the quick ratio for NEE in 2023?","ground_truth_answer":"The quick ratio is calculated by subtracting inventories from total current assets and then dividing by total current liabilities. For NEE in 2023, the total current assets were $15,361 million, inventories were $2,106 million, and total current liabilities were $27,963 million. Therefore, the quick ratio for NEE in 2023 is:\n\nQuick Ratio = (Total Current Assets - Inventories) \/ Total Current Liabilities = ($15,361 million - $2,106 million) \/ $27,963 million \u2248 0.47\n\nThis ratio indicates that NEE has $0.47 in liquid assets for every $1 of current liabilities","question_type":"Ratio","page_number":62,"accession_number":"0000753308-24-000008","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NEXTERA ENERGY INC 10-K form for the fiscal year ended 2023-12-31, page 62: \nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(millions, except par value)\n| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:--------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets: | | | | | | |\n| 5 | Cash and cash equivalents | $ | 2,690 | | | $ | 1,601 |\n| 6 | Customer receivables, net of allowances of $52 and $54, respectively | 3,609 | | | 4,349 | | |\n| 7 | Other receivables | 944 | | | 744 | | |\n| 8 | Materials, supplies and fuel inventory | 2,106 | | | 1,934 | | |\n| 9 | Regulatory assets | 1,460 | | | 2,165 | | |\n| 10 | Derivatives | 1,730 | | | 1,590 | | |\n| 12 | Contract assets | 1,487 | | | 318 | | |\n| 13 | Other | 1,335 | | | 789 | | |\n| 14 | Total current assets | 15,361 | | | 13,490 | | |\n| 15 | Other assets: | | | | | | |\n| 16 | Property, plant and equipment \u2013 net ($26,900 and $22,927 related to VIEs, respectively) | 125,776 | | | 111,059 | | |\n| 17 | Special use funds | 8,698 | | | 7,496 | | |\n| 18 | Investment in equity method investees | 6,156 | | | 6,582 | | |\n| 19 | Prepaid benefit costs | 2,112 | | | 1,832 | | |\n| 20 | Regulatory assets | 4,801 | | | 5,992 | | |\n| 21 | Derivatives | 1,790 | | | 1,935 | | |\n| 22 | Goodwill | 5,091 | | | 4,854 | | |\n| 23 | Other | 7,704 | | | 5,695 | | |\n| 24 | Total other assets | 162,128 | | | 145,445 | | |\n| 25 | TOTAL ASSETS | $ | 177,489 | | | $ | 158,935 |\n| 26 | LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | | | | | | |\n| 27 | Current liabilities: | | | | | | |\n| 28 | Commercial paper | $ | 4,650 | | | $ | 1,709 |\n| 29 | Other short-term debt | 255 | | | 1,368 | | |\n| 30 | Current portion of long-term debt ($66 and $61 related to VIEs, respectively) | 6,901 | | | 6,633 | | |\n| 31 | Accounts payable ($1,718 and $1,250 related to VIEs, respectively) | 8,504 | | | 8,312 | | |\n| 32 | Customer deposits | 638 | | | 560 | | |\n| 33 | Accrued interest and taxes | 970 | | | 719 | | |\n| 34 | Derivatives | 845 | | | 2,102 | | |\n| 35 | Accrued construction-related expenditures | 1,861 | | | 1,760 | | |\n| 36 | Regulatory liabilities | 340 | | | 350 | | |\n| 38 | Other | 2,999 | | | 3,182 | | |\n| 39 | Total current liabilities | 27,963 | | | 26,695 | | |\n| 40 | Other liabilities and deferred credits: | | | | | | |\n| 41 | Long-term debt ($1,374 and $1,108 related to VIEs, respectively) | 61,405 | | | 55,256 | | |\n| 42 | Asset retirement obligations | 3,403 | | | 3,245 | | |\n| 43 | Deferred income taxes | 10,142 | | | 9,072 | | |\n| 44 | Regulatory liabilities | 10,049 | | | 9,626 | | |\n| 45 | Derivatives | 2,741 | | | 2,909 | | |\n| 47 | Other | 2,762 | | | 2,696 | | |\n| 48 | Total other liabilities and deferred credits | 90,502 | | | 82,804 | | |\n| 49 | TOTAL LIABILITIES | 118,465 | | | 109,499 | | |\n| 50 | COMMITMENTS AND CONTINGENCIES | | | | | | |\n| 51 | REDEEMABLE NONCONTROLLING INTERESTS \u2013 VIEs | 1,256 | | | 1,110 | | |\n| 52 | EQUITY | | | | | | |\n| 53 | Common stock ($0.01 par value, authorized shares \u2013 3,200; outstanding shares \u2013 2,052 and 1,987, respectively) | 21 | | | 20 | | |\n| 54 | Additional paid-in capital | 17,365 | | | 12,720 | | |\n| 55 | Retained earnings | 30,235 | | | 26,707 | | |\n| 56 | Accumulated other comprehensive loss | (153) | | | (218) | | |\n| 57 | Total common shareholders' equity | 47,468 | | | 39,229 | | |\n| 58 | Noncontrolling interests ($10,180 and $9,092 related to VIEs, respectively) | 10,300 | | | 9,097 | | |\n| 59 | TOTAL EQUITY | 57,768 | | | 48,326 | | |\n| 60 | TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | $ | 177,489 | | | $ | 158,935 |\n\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n62\n\n\n\n\n","context_markdown_without_headers":"\nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(millions, except par value)\n| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:--------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets: | | | | | | |\n| 5 | Cash and cash equivalents | $ | 2,690 | | | $ | 1,601 |\n| 6 | Customer receivables, net of allowances of $52 and $54, respectively | 3,609 | | | 4,349 | | |\n| 7 | Other receivables | 944 | | | 744 | | |\n| 8 | Materials, supplies and fuel inventory | 2,106 | | | 1,934 | | |\n| 9 | Regulatory assets | 1,460 | | | 2,165 | | |\n| 10 | Derivatives | 1,730 | | | 1,590 | | |\n| 12 | Contract assets | 1,487 | | | 318 | | |\n| 13 | Other | 1,335 | | | 789 | | |\n| 14 | Total current assets | 15,361 | | | 13,490 | | |\n| 15 | Other assets: | | | | | | |\n| 16 | Property, plant and equipment \u2013 net ($26,900 and $22,927 related to VIEs, respectively) | 125,776 | | | 111,059 | | |\n| 17 | Special use funds | 8,698 | | | 7,496 | | |\n| 18 | Investment in equity method investees | 6,156 | | | 6,582 | | |\n| 19 | Prepaid benefit costs | 2,112 | | | 1,832 | | |\n| 20 | Regulatory assets | 4,801 | | | 5,992 | | |\n| 21 | Derivatives | 1,790 | | | 1,935 | | |\n| 22 | Goodwill | 5,091 | | | 4,854 | | |\n| 23 | Other | 7,704 | | | 5,695 | | |\n| 24 | Total other assets | 162,128 | | | 145,445 | | |\n| 25 | TOTAL ASSETS | $ | 177,489 | | | $ | 158,935 |\n| 26 | LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | | | | | | |\n| 27 | Current liabilities: | | | | | | |\n| 28 | Commercial paper | $ | 4,650 | | | $ | 1,709 |\n| 29 | Other short-term debt | 255 | | | 1,368 | | |\n| 30 | Current portion of long-term debt ($66 and $61 related to VIEs, respectively) | 6,901 | | | 6,633 | | |\n| 31 | Accounts payable ($1,718 and $1,250 related to VIEs, respectively) | 8,504 | | | 8,312 | | |\n| 32 | Customer deposits | 638 | | | 560 | | |\n| 33 | Accrued interest and taxes | 970 | | | 719 | | |\n| 34 | Derivatives | 845 | | | 2,102 | | |\n| 35 | Accrued construction-related expenditures | 1,861 | | | 1,760 | | |\n| 36 | Regulatory liabilities | 340 | | | 350 | | |\n| 38 | Other | 2,999 | | | 3,182 | | |\n| 39 | Total current liabilities | 27,963 | | | 26,695 | | |\n| 40 | Other liabilities and deferred credits: | | | | | | |\n| 41 | Long-term debt ($1,374 and $1,108 related to VIEs, respectively) | 61,405 | | | 55,256 | | |\n| 42 | Asset retirement obligations | 3,403 | | | 3,245 | | |\n| 43 | Deferred income taxes | 10,142 | | | 9,072 | | |\n| 44 | Regulatory liabilities | 10,049 | | | 9,626 | | |\n| 45 | Derivatives | 2,741 | | | 2,909 | | |\n| 47 | Other | 2,762 | | | 2,696 | | |\n| 48 | Total other liabilities and deferred credits | 90,502 | | | 82,804 | | |\n| 49 | TOTAL LIABILITIES | 118,465 | | | 109,499 | | |\n| 50 | COMMITMENTS AND CONTINGENCIES | | | | | | |\n| 51 | REDEEMABLE NONCONTROLLING INTERESTS \u2013 VIEs | 1,256 | | | 1,110 | | |\n| 52 | EQUITY | | | | | | |\n| 53 | Common stock ($0.01 par value, authorized shares \u2013 3,200; outstanding shares \u2013 2,052 and 1,987, respectively) | 21 | | | 20 | | |\n| 54 | Additional paid-in capital | 17,365 | | | 12,720 | | |\n| 55 | Retained earnings | 30,235 | | | 26,707 | | |\n| 56 | Accumulated other comprehensive loss | (153) | | | (218) | | |\n| 57 | Total common shareholders' equity | 47,468 | | | 39,229 | | |\n| 58 | Noncontrolling interests ($10,180 and $9,092 related to VIEs, respectively) | 10,300 | | | 9,097 | | |\n| 59 | TOTAL EQUITY | 57,768 | | | 48,326 | | |\n| 60 | TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | $ | 177,489 | | | $ | 158,935 |\n\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n62\n\n\n\n\n","context_html_with_headers":"NEXTERA ENERGY INC 10-K form for the fiscal year ended 2023-12-31, page 62: \nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(millions, except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td>December 31,<\/td><\/tr>
<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
ASSETS<\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td><\/td>$<\/td>2,690 <\/td><\/td><\/td>$<\/td>1,601 <\/td><\/td><\/tr>
Customer receivables, net of allowances of $52 and $54, respectively<\/td><\/td>3,609 <\/td><\/td><\/td>4,349 <\/td><\/td><\/tr>
Other receivables<\/td><\/td>944 <\/td><\/td><\/td>744 <\/td><\/td><\/tr>
Materials, supplies and fuel inventory<\/td><\/td>2,106 <\/td><\/td><\/td>1,934 <\/td><\/td><\/tr>
Regulatory assets<\/td><\/td>1,460 <\/td><\/td><\/td>2,165 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>1,730 <\/td><\/td><\/td>1,590 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Contract assets<\/td><\/td>1,487 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Other<\/td><\/td>1,335 <\/td><\/td><\/td>789 <\/td><\/td><\/tr>
Total current assets<\/td><\/td>15,361 <\/td><\/td><\/td>13,490 <\/td><\/td><\/tr>
Other assets:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Property, plant and equipment \u2013 net ($26,900 and $22,927 related to VIEs, respectively)<\/td><\/td>125,776 <\/td><\/td><\/td>111,059 <\/td><\/td><\/tr>
Special use funds<\/td><\/td>8,698 <\/td><\/td><\/td>7,496 <\/td><\/td><\/tr>
Investment in equity method investees<\/td><\/td>6,156 <\/td><\/td><\/td>6,582 <\/td><\/td><\/tr>
Prepaid benefit costs<\/td><\/td>2,112 <\/td><\/td><\/td>1,832 <\/td><\/td><\/tr>
Regulatory assets<\/td><\/td>4,801 <\/td><\/td><\/td>5,992 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>1,790 <\/td><\/td><\/td>1,935 <\/td><\/td><\/tr>
Goodwill<\/td><\/td>5,091 <\/td><\/td><\/td>4,854 <\/td><\/td><\/tr>
Other<\/td><\/td>7,704 <\/td><\/td><\/td>5,695 <\/td><\/td><\/tr>
Total other assets<\/td><\/td>162,128 <\/td><\/td><\/td>145,445 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td><\/td>$<\/td>177,489 <\/td><\/td><\/td>$<\/td>158,935 <\/td><\/td><\/tr>
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY<\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Commercial paper<\/td><\/td>$<\/td>4,650 <\/td><\/td><\/td>$<\/td>1,709 <\/td><\/td><\/tr>
Other short-term debt<\/td><\/td>255 <\/td><\/td><\/td>1,368 <\/td><\/td><\/tr>
Current portion of long-term debt ($66 and $61 related to VIEs, respectively)<\/td><\/td>6,901 <\/td><\/td><\/td>6,633 <\/td><\/td><\/tr>
Accounts payable ($1,718 and $1,250 related to VIEs, respectively)<\/td><\/td>8,504 <\/td><\/td><\/td>8,312 <\/td><\/td><\/tr>
Customer deposits<\/td><\/td>638 <\/td><\/td><\/td>560 <\/td><\/td><\/tr>
Accrued interest and taxes<\/td><\/td>970 <\/td><\/td><\/td>719 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>845 <\/td><\/td><\/td>2,102 <\/td><\/td><\/tr>
Accrued construction-related expenditures<\/td><\/td>1,861 <\/td><\/td><\/td>1,760 <\/td><\/td><\/tr>
Regulatory liabilities<\/td><\/td>340 <\/td><\/td><\/td>350 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td><\/td>2,999 <\/td><\/td><\/td>3,182 <\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>27,963 <\/td><\/td><\/td>26,695 <\/td><\/td><\/tr>
Other liabilities and deferred credits:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Long-term debt ($1,374 and $1,108 related to VIEs, respectively)<\/td><\/td>61,405 <\/td><\/td><\/td>55,256 <\/td><\/td><\/tr>
Asset retirement obligations<\/td><\/td>3,403 <\/td><\/td><\/td>3,245 <\/td><\/td><\/tr>
Deferred income taxes<\/td><\/td>10,142 <\/td><\/td><\/td>9,072 <\/td><\/td><\/tr>
Regulatory liabilities<\/td><\/td>10,049 <\/td><\/td><\/td>9,626 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>2,741 <\/td><\/td><\/td>2,909 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td><\/td>2,762 <\/td><\/td><\/td>2,696 <\/td><\/td><\/tr>
Total other liabilities and deferred credits<\/td><\/td>90,502 <\/td><\/td><\/td>82,804 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td><\/td>118,465 <\/td><\/td><\/td>109,499 <\/td><\/td><\/tr>
COMMITMENTS AND CONTINGENCIES<\/td><\/td><\/td><\/td><\/td><\/tr>
REDEEMABLE NONCONTROLLING INTERESTS \u2013 VIEs<\/td><\/td>1,256 <\/td><\/td><\/td>1,110 <\/td><\/td><\/tr>
EQUITY<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Common stock ($0.01 par value, authorized shares \u2013 3,200; outstanding shares \u2013 2,052 and 1,987, respectively)<\/td><\/td>21 <\/td><\/td><\/td>20 <\/td><\/td><\/tr>
Additional paid-in capital<\/td><\/td>17,365 <\/td><\/td><\/td>12,720 <\/td><\/td><\/tr>
Retained earnings<\/td><\/td>30,235 <\/td><\/td><\/td>26,707 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td><\/td>(153)<\/td><\/td><\/td>(218)<\/td><\/td><\/tr>
Total common shareholders' equity<\/td><\/td>47,468 <\/td><\/td><\/td>39,229 <\/td><\/td><\/tr>
Noncontrolling interests ($10,180 and $9,092 related to VIEs, respectively)<\/td><\/td>10,300 <\/td><\/td><\/td>9,097 <\/td><\/td><\/tr>
TOTAL EQUITY<\/td><\/td>57,768 <\/td><\/td><\/td>48,326 <\/td><\/td><\/tr>
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY<\/td><\/td>$<\/td>177,489 <\/td><\/td><\/td>$<\/td>158,935 <\/td><\/td><\/tr><\/table>\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n62\n\n\n\n\n","context_html_without_headers":"\nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(millions, except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td>December 31,<\/td><\/tr>
<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
ASSETS<\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td><\/td>$<\/td>2,690 <\/td><\/td><\/td>$<\/td>1,601 <\/td><\/td><\/tr>
Customer receivables, net of allowances of $52 and $54, respectively<\/td><\/td>3,609 <\/td><\/td><\/td>4,349 <\/td><\/td><\/tr>
Other receivables<\/td><\/td>944 <\/td><\/td><\/td>744 <\/td><\/td><\/tr>
Materials, supplies and fuel inventory<\/td><\/td>2,106 <\/td><\/td><\/td>1,934 <\/td><\/td><\/tr>
Regulatory assets<\/td><\/td>1,460 <\/td><\/td><\/td>2,165 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>1,730 <\/td><\/td><\/td>1,590 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Contract assets<\/td><\/td>1,487 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Other<\/td><\/td>1,335 <\/td><\/td><\/td>789 <\/td><\/td><\/tr>
Total current assets<\/td><\/td>15,361 <\/td><\/td><\/td>13,490 <\/td><\/td><\/tr>
Other assets:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Property, plant and equipment \u2013 net ($26,900 and $22,927 related to VIEs, respectively)<\/td><\/td>125,776 <\/td><\/td><\/td>111,059 <\/td><\/td><\/tr>
Special use funds<\/td><\/td>8,698 <\/td><\/td><\/td>7,496 <\/td><\/td><\/tr>
Investment in equity method investees<\/td><\/td>6,156 <\/td><\/td><\/td>6,582 <\/td><\/td><\/tr>
Prepaid benefit costs<\/td><\/td>2,112 <\/td><\/td><\/td>1,832 <\/td><\/td><\/tr>
Regulatory assets<\/td><\/td>4,801 <\/td><\/td><\/td>5,992 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>1,790 <\/td><\/td><\/td>1,935 <\/td><\/td><\/tr>
Goodwill<\/td><\/td>5,091 <\/td><\/td><\/td>4,854 <\/td><\/td><\/tr>
Other<\/td><\/td>7,704 <\/td><\/td><\/td>5,695 <\/td><\/td><\/tr>
Total other assets<\/td><\/td>162,128 <\/td><\/td><\/td>145,445 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td><\/td>$<\/td>177,489 <\/td><\/td><\/td>$<\/td>158,935 <\/td><\/td><\/tr>
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY<\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Commercial paper<\/td><\/td>$<\/td>4,650 <\/td><\/td><\/td>$<\/td>1,709 <\/td><\/td><\/tr>
Other short-term debt<\/td><\/td>255 <\/td><\/td><\/td>1,368 <\/td><\/td><\/tr>
Current portion of long-term debt ($66 and $61 related to VIEs, respectively)<\/td><\/td>6,901 <\/td><\/td><\/td>6,633 <\/td><\/td><\/tr>
Accounts payable ($1,718 and $1,250 related to VIEs, respectively)<\/td><\/td>8,504 <\/td><\/td><\/td>8,312 <\/td><\/td><\/tr>
Customer deposits<\/td><\/td>638 <\/td><\/td><\/td>560 <\/td><\/td><\/tr>
Accrued interest and taxes<\/td><\/td>970 <\/td><\/td><\/td>719 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>845 <\/td><\/td><\/td>2,102 <\/td><\/td><\/tr>
Accrued construction-related expenditures<\/td><\/td>1,861 <\/td><\/td><\/td>1,760 <\/td><\/td><\/tr>
Regulatory liabilities<\/td><\/td>340 <\/td><\/td><\/td>350 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td><\/td>2,999 <\/td><\/td><\/td>3,182 <\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>27,963 <\/td><\/td><\/td>26,695 <\/td><\/td><\/tr>
Other liabilities and deferred credits:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Long-term debt ($1,374 and $1,108 related to VIEs, respectively)<\/td><\/td>61,405 <\/td><\/td><\/td>55,256 <\/td><\/td><\/tr>
Asset retirement obligations<\/td><\/td>3,403 <\/td><\/td><\/td>3,245 <\/td><\/td><\/tr>
Deferred income taxes<\/td><\/td>10,142 <\/td><\/td><\/td>9,072 <\/td><\/td><\/tr>
Regulatory liabilities<\/td><\/td>10,049 <\/td><\/td><\/td>9,626 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>2,741 <\/td><\/td><\/td>2,909 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td><\/td>2,762 <\/td><\/td><\/td>2,696 <\/td><\/td><\/tr>
Total other liabilities and deferred credits<\/td><\/td>90,502 <\/td><\/td><\/td>82,804 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td><\/td>118,465 <\/td><\/td><\/td>109,499 <\/td><\/td><\/tr>
COMMITMENTS AND CONTINGENCIES<\/td><\/td><\/td><\/td><\/td><\/tr>
REDEEMABLE NONCONTROLLING INTERESTS \u2013 VIEs<\/td><\/td>1,256 <\/td><\/td><\/td>1,110 <\/td><\/td><\/tr>
EQUITY<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Common stock ($0.01 par value, authorized shares \u2013 3,200; outstanding shares \u2013 2,052 and 1,987, respectively)<\/td><\/td>21 <\/td><\/td><\/td>20 <\/td><\/td><\/tr>
Additional paid-in capital<\/td><\/td>17,365 <\/td><\/td><\/td>12,720 <\/td><\/td><\/tr>
Retained earnings<\/td><\/td>30,235 <\/td><\/td><\/td>26,707 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td><\/td>(153)<\/td><\/td><\/td>(218)<\/td><\/td><\/tr>
Total common shareholders' equity<\/td><\/td>47,468 <\/td><\/td><\/td>39,229 <\/td><\/td><\/tr>
Noncontrolling interests ($10,180 and $9,092 related to VIEs, respectively)<\/td><\/td>10,300 <\/td><\/td><\/td>9,097 <\/td><\/td><\/tr>
TOTAL EQUITY<\/td><\/td>57,768 <\/td><\/td><\/td>48,326 <\/td><\/td><\/tr>
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY<\/td><\/td>$<\/td>177,489 <\/td><\/td><\/td>$<\/td>158,935 <\/td><\/td><\/tr><\/table>\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n62\n\n\n\n\n"} +{"QID":"q_Ra036","Question":"What was the asset turnover ratio for NEE in 2023?","ground_truth_answer":"The asset turnover ratio is calculated by dividing net sales by average total assets. For NEE in 2023, the net sales (operating revenues) were $28,114 million. The average total assets can be calculated by taking the average of total assets at the beginning and end of the year. The total assets at the end of 2023 were $177,489 million, and at the end of 2022, they were $158,935 million. Therefore, the average total assets for 2023 are:\n\nAverage Total Assets = (Total Assets at Beginning of Year + Total Assets at End of Year) \/ 2 = ($158,935 million + $177,489 million) \/ 2 = $168,212 million\nThe asset turnover ratio for NEE in 2023 is:\nAsset Turnover Ratio = Net Sales \/ Average Total Assets = $28,114 million \/ $168,212 million \u2248 0.17","question_type":"Ratio","page_number":"60, 62","accession_number":"0000753308-24-000008","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NEXTERA ENERGY INC 10-K form for the fiscal year ended 2023-12-31, page 60: \nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(millions, except per share amounts)\n| | | | | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:-----|:-------------------------|:-------|:-------|:---|:-------|:--------|:---|:-------|\n| 1 | | | Years Ended December 31, | | | | | | | |\n| 2 | | 2023 | | 2022 | 2021 | | | | | |\n| 3 | OPERATING REVENUES | | $ | 28,114 | | $ | 20,956 | | $ | 17,069 |\n| 4 | OPERATING EXPENSES | | | | | | | | | |\n| 5 | Fuel, purchased power and interchange | | 5,457 | | 6,389 | | | 4,527 | | |\n| 6 | Other operations and maintenance | | 4,681 | | 4,428 | | | 3,981 | | |\n| 10 | Depreciation and amortization | | 5,879 | | 4,503 | | | 3,924 | | |\n| 11 | Taxes other than income taxes and other \u2013 net | | 2,265 | | 2,077 | | | 1,801 | | |\n| 12 | Total operating expenses \u2013 net | | 18,282 | | 17,397 | | | 14,233 | | |\n| 13 | GAINS ON DISPOSAL OF BUSINESSES\/ASSETS \u2013 NET | | 405 | | 522 | | | 77 | | |\n| 14 | OPERATING INCOME | | 10,237 | | 4,081 | | | 2,913 | | |\n| 15 | OTHER INCOME (DEDUCTIONS) | | | | | | | | | |\n| 16 | Interest expense | | (3,324) | | (585) | | | (1,270) | | |\n| 18 | Equity in earnings (losses) of equity method investees | | (648) | | 203 | | | 666 | | |\n| 19 | Allowance for equity funds used during construction | | 161 | | 112 | | | 142 | | |\n| 21 | Gains on disposal of investments and other property \u2013 net | | 125 | | 80 | | | 70 | | |\n| 22 | Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds \u2013 net | | 159 | | (461) | | | 267 | | |\n| 23 | Other net periodic benefit income | | 245 | | 202 | | | 257 | | |\n| 24 | Other \u2013 net | | 333 | | 200 | | | 130 | | |\n| 25 | Total other income (deductions) \u2013 net | | (2,949) | | (249) | | | 262 | | |\n| 26 | INCOME BEFORE INCOME TAXES | | 7,288 | | 3,832 | | | 3,175 | | |\n| 27 | INCOME TAXES | | 1,006 | | 586 | | | 348 | | |\n| 28 | NET INCOME | | 6,282 | | 3,246 | | | 2,827 | | |\n| 29 | NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | | 1,028 | | 901 | | | 746 | | |\n| 30 | NET INCOME ATTRIBUTABLE TO NEE | | $ | 7,310 | | $ | 4,147 | | $ | 3,573 |\n| 31 | Earnings per share attributable to NEE: | | | | | | | | | |\n| 32 | Basic | | $ | 3.61 | | $ | 2.10 | | $ | 1.82 |\n| 33 | Assuming dilution | | $ | 3.60 | | $ | 2.10 | | $ | 1.81 |\n\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n60\n\n\n\n\n, NEXTERA ENERGY INC 10-K form for the fiscal year ended 2023-12-31, page 62: \nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(millions, except par value)\n| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:--------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets: | | | | | | |\n| 5 | Cash and cash equivalents | $ | 2,690 | | | $ | 1,601 |\n| 6 | Customer receivables, net of allowances of $52 and $54, respectively | 3,609 | | | 4,349 | | |\n| 7 | Other receivables | 944 | | | 744 | | |\n| 8 | Materials, supplies and fuel inventory | 2,106 | | | 1,934 | | |\n| 9 | Regulatory assets | 1,460 | | | 2,165 | | |\n| 10 | Derivatives | 1,730 | | | 1,590 | | |\n| 12 | Contract assets | 1,487 | | | 318 | | |\n| 13 | Other | 1,335 | | | 789 | | |\n| 14 | Total current assets | 15,361 | | | 13,490 | | |\n| 15 | Other assets: | | | | | | |\n| 16 | Property, plant and equipment \u2013 net ($26,900 and $22,927 related to VIEs, respectively) | 125,776 | | | 111,059 | | |\n| 17 | Special use funds | 8,698 | | | 7,496 | | |\n| 18 | Investment in equity method investees | 6,156 | | | 6,582 | | |\n| 19 | Prepaid benefit costs | 2,112 | | | 1,832 | | |\n| 20 | Regulatory assets | 4,801 | | | 5,992 | | |\n| 21 | Derivatives | 1,790 | | | 1,935 | | |\n| 22 | Goodwill | 5,091 | | | 4,854 | | |\n| 23 | Other | 7,704 | | | 5,695 | | |\n| 24 | Total other assets | 162,128 | | | 145,445 | | |\n| 25 | TOTAL ASSETS | $ | 177,489 | | | $ | 158,935 |\n| 26 | LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | | | | | | |\n| 27 | Current liabilities: | | | | | | |\n| 28 | Commercial paper | $ | 4,650 | | | $ | 1,709 |\n| 29 | Other short-term debt | 255 | | | 1,368 | | |\n| 30 | Current portion of long-term debt ($66 and $61 related to VIEs, respectively) | 6,901 | | | 6,633 | | |\n| 31 | Accounts payable ($1,718 and $1,250 related to VIEs, respectively) | 8,504 | | | 8,312 | | |\n| 32 | Customer deposits | 638 | | | 560 | | |\n| 33 | Accrued interest and taxes | 970 | | | 719 | | |\n| 34 | Derivatives | 845 | | | 2,102 | | |\n| 35 | Accrued construction-related expenditures | 1,861 | | | 1,760 | | |\n| 36 | Regulatory liabilities | 340 | | | 350 | | |\n| 38 | Other | 2,999 | | | 3,182 | | |\n| 39 | Total current liabilities | 27,963 | | | 26,695 | | |\n| 40 | Other liabilities and deferred credits: | | | | | | |\n| 41 | Long-term debt ($1,374 and $1,108 related to VIEs, respectively) | 61,405 | | | 55,256 | | |\n| 42 | Asset retirement obligations | 3,403 | | | 3,245 | | |\n| 43 | Deferred income taxes | 10,142 | | | 9,072 | | |\n| 44 | Regulatory liabilities | 10,049 | | | 9,626 | | |\n| 45 | Derivatives | 2,741 | | | 2,909 | | |\n| 47 | Other | 2,762 | | | 2,696 | | |\n| 48 | Total other liabilities and deferred credits | 90,502 | | | 82,804 | | |\n| 49 | TOTAL LIABILITIES | 118,465 | | | 109,499 | | |\n| 50 | COMMITMENTS AND CONTINGENCIES | | | | | | |\n| 51 | REDEEMABLE NONCONTROLLING INTERESTS \u2013 VIEs | 1,256 | | | 1,110 | | |\n| 52 | EQUITY | | | | | | |\n| 53 | Common stock ($0.01 par value, authorized shares \u2013 3,200; outstanding shares \u2013 2,052 and 1,987, respectively) | 21 | | | 20 | | |\n| 54 | Additional paid-in capital | 17,365 | | | 12,720 | | |\n| 55 | Retained earnings | 30,235 | | | 26,707 | | |\n| 56 | Accumulated other comprehensive loss | (153) | | | (218) | | |\n| 57 | Total common shareholders' equity | 47,468 | | | 39,229 | | |\n| 58 | Noncontrolling interests ($10,180 and $9,092 related to VIEs, respectively) | 10,300 | | | 9,097 | | |\n| 59 | TOTAL EQUITY | 57,768 | | | 48,326 | | |\n| 60 | TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | $ | 177,489 | | | $ | 158,935 |\n\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n62\n\n\n\n\n","context_markdown_without_headers":"\nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(millions, except per share amounts)\n| | | | | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:-----|:-------------------------|:-------|:-------|:---|:-------|:--------|:---|:-------|\n| 1 | | | Years Ended December 31, | | | | | | | |\n| 2 | | 2023 | | 2022 | 2021 | | | | | |\n| 3 | OPERATING REVENUES | | $ | 28,114 | | $ | 20,956 | | $ | 17,069 |\n| 4 | OPERATING EXPENSES | | | | | | | | | |\n| 5 | Fuel, purchased power and interchange | | 5,457 | | 6,389 | | | 4,527 | | |\n| 6 | Other operations and maintenance | | 4,681 | | 4,428 | | | 3,981 | | |\n| 10 | Depreciation and amortization | | 5,879 | | 4,503 | | | 3,924 | | |\n| 11 | Taxes other than income taxes and other \u2013 net | | 2,265 | | 2,077 | | | 1,801 | | |\n| 12 | Total operating expenses \u2013 net | | 18,282 | | 17,397 | | | 14,233 | | |\n| 13 | GAINS ON DISPOSAL OF BUSINESSES\/ASSETS \u2013 NET | | 405 | | 522 | | | 77 | | |\n| 14 | OPERATING INCOME | | 10,237 | | 4,081 | | | 2,913 | | |\n| 15 | OTHER INCOME (DEDUCTIONS) | | | | | | | | | |\n| 16 | Interest expense | | (3,324) | | (585) | | | (1,270) | | |\n| 18 | Equity in earnings (losses) of equity method investees | | (648) | | 203 | | | 666 | | |\n| 19 | Allowance for equity funds used during construction | | 161 | | 112 | | | 142 | | |\n| 21 | Gains on disposal of investments and other property \u2013 net | | 125 | | 80 | | | 70 | | |\n| 22 | Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds \u2013 net | | 159 | | (461) | | | 267 | | |\n| 23 | Other net periodic benefit income | | 245 | | 202 | | | 257 | | |\n| 24 | Other \u2013 net | | 333 | | 200 | | | 130 | | |\n| 25 | Total other income (deductions) \u2013 net | | (2,949) | | (249) | | | 262 | | |\n| 26 | INCOME BEFORE INCOME TAXES | | 7,288 | | 3,832 | | | 3,175 | | |\n| 27 | INCOME TAXES | | 1,006 | | 586 | | | 348 | | |\n| 28 | NET INCOME | | 6,282 | | 3,246 | | | 2,827 | | |\n| 29 | NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | | 1,028 | | 901 | | | 746 | | |\n| 30 | NET INCOME ATTRIBUTABLE TO NEE | | $ | 7,310 | | $ | 4,147 | | $ | 3,573 |\n| 31 | Earnings per share attributable to NEE: | | | | | | | | | |\n| 32 | Basic | | $ | 3.61 | | $ | 2.10 | | $ | 1.82 |\n| 33 | Assuming dilution | | $ | 3.60 | | $ | 2.10 | | $ | 1.81 |\n\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n60\n\n\n\n\n, \nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(millions, except par value)\n| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:--------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets: | | | | | | |\n| 5 | Cash and cash equivalents | $ | 2,690 | | | $ | 1,601 |\n| 6 | Customer receivables, net of allowances of $52 and $54, respectively | 3,609 | | | 4,349 | | |\n| 7 | Other receivables | 944 | | | 744 | | |\n| 8 | Materials, supplies and fuel inventory | 2,106 | | | 1,934 | | |\n| 9 | Regulatory assets | 1,460 | | | 2,165 | | |\n| 10 | Derivatives | 1,730 | | | 1,590 | | |\n| 12 | Contract assets | 1,487 | | | 318 | | |\n| 13 | Other | 1,335 | | | 789 | | |\n| 14 | Total current assets | 15,361 | | | 13,490 | | |\n| 15 | Other assets: | | | | | | |\n| 16 | Property, plant and equipment \u2013 net ($26,900 and $22,927 related to VIEs, respectively) | 125,776 | | | 111,059 | | |\n| 17 | Special use funds | 8,698 | | | 7,496 | | |\n| 18 | Investment in equity method investees | 6,156 | | | 6,582 | | |\n| 19 | Prepaid benefit costs | 2,112 | | | 1,832 | | |\n| 20 | Regulatory assets | 4,801 | | | 5,992 | | |\n| 21 | Derivatives | 1,790 | | | 1,935 | | |\n| 22 | Goodwill | 5,091 | | | 4,854 | | |\n| 23 | Other | 7,704 | | | 5,695 | | |\n| 24 | Total other assets | 162,128 | | | 145,445 | | |\n| 25 | TOTAL ASSETS | $ | 177,489 | | | $ | 158,935 |\n| 26 | LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | | | | | | |\n| 27 | Current liabilities: | | | | | | |\n| 28 | Commercial paper | $ | 4,650 | | | $ | 1,709 |\n| 29 | Other short-term debt | 255 | | | 1,368 | | |\n| 30 | Current portion of long-term debt ($66 and $61 related to VIEs, respectively) | 6,901 | | | 6,633 | | |\n| 31 | Accounts payable ($1,718 and $1,250 related to VIEs, respectively) | 8,504 | | | 8,312 | | |\n| 32 | Customer deposits | 638 | | | 560 | | |\n| 33 | Accrued interest and taxes | 970 | | | 719 | | |\n| 34 | Derivatives | 845 | | | 2,102 | | |\n| 35 | Accrued construction-related expenditures | 1,861 | | | 1,760 | | |\n| 36 | Regulatory liabilities | 340 | | | 350 | | |\n| 38 | Other | 2,999 | | | 3,182 | | |\n| 39 | Total current liabilities | 27,963 | | | 26,695 | | |\n| 40 | Other liabilities and deferred credits: | | | | | | |\n| 41 | Long-term debt ($1,374 and $1,108 related to VIEs, respectively) | 61,405 | | | 55,256 | | |\n| 42 | Asset retirement obligations | 3,403 | | | 3,245 | | |\n| 43 | Deferred income taxes | 10,142 | | | 9,072 | | |\n| 44 | Regulatory liabilities | 10,049 | | | 9,626 | | |\n| 45 | Derivatives | 2,741 | | | 2,909 | | |\n| 47 | Other | 2,762 | | | 2,696 | | |\n| 48 | Total other liabilities and deferred credits | 90,502 | | | 82,804 | | |\n| 49 | TOTAL LIABILITIES | 118,465 | | | 109,499 | | |\n| 50 | COMMITMENTS AND CONTINGENCIES | | | | | | |\n| 51 | REDEEMABLE NONCONTROLLING INTERESTS \u2013 VIEs | 1,256 | | | 1,110 | | |\n| 52 | EQUITY | | | | | | |\n| 53 | Common stock ($0.01 par value, authorized shares \u2013 3,200; outstanding shares \u2013 2,052 and 1,987, respectively) | 21 | | | 20 | | |\n| 54 | Additional paid-in capital | 17,365 | | | 12,720 | | |\n| 55 | Retained earnings | 30,235 | | | 26,707 | | |\n| 56 | Accumulated other comprehensive loss | (153) | | | (218) | | |\n| 57 | Total common shareholders' equity | 47,468 | | | 39,229 | | |\n| 58 | Noncontrolling interests ($10,180 and $9,092 related to VIEs, respectively) | 10,300 | | | 9,097 | | |\n| 59 | TOTAL EQUITY | 57,768 | | | 48,326 | | |\n| 60 | TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | $ | 177,489 | | | $ | 158,935 |\n\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n62\n\n\n\n\n","context_html_with_headers":"NEXTERA ENERGY INC 10-K form for the fiscal year ended 2023-12-31, page 60: \nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(millions, except per share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td>Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
OPERATING REVENUES<\/td><\/td>$<\/td>28,114 <\/td><\/td><\/td>$<\/td>20,956 <\/td><\/td><\/td>$<\/td>17,069 <\/td><\/td><\/tr>
OPERATING EXPENSES<\/td><\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Fuel, purchased power and interchange<\/td><\/td>5,457 <\/td><\/td><\/td>6,389 <\/td><\/td><\/td>4,527 <\/td><\/td><\/tr>
Other operations and maintenance<\/td><\/td>4,681 <\/td><\/td><\/td>4,428 <\/td><\/td><\/td>3,981 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td><\/td>5,879 <\/td><\/td><\/td>4,503 <\/td><\/td><\/td>3,924 <\/td><\/td><\/tr>
Taxes other than income taxes and other \u2013 net<\/td><\/td>2,265 <\/td><\/td><\/td>2,077 <\/td><\/td><\/td>1,801 <\/td><\/td><\/tr>
Total operating expenses \u2013 net<\/td><\/td>18,282 <\/td><\/td><\/td>17,397 <\/td><\/td><\/td>14,233 <\/td><\/td><\/tr>
GAINS ON DISPOSAL OF BUSINESSES\/ASSETS \u2013 NET<\/td><\/td>405 <\/td><\/td><\/td>522 <\/td><\/td><\/td>77 <\/td><\/td><\/tr>
OPERATING INCOME<\/td><\/td>10,237 <\/td><\/td><\/td>4,081 <\/td><\/td><\/td>2,913 <\/td><\/td><\/tr>
OTHER INCOME (DEDUCTIONS)<\/td><\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Interest expense<\/td><\/td>(3,324)<\/td><\/td><\/td>(585)<\/td><\/td><\/td>(1,270)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Equity in earnings (losses) of equity method investees<\/td><\/td>(648)<\/td><\/td><\/td>203 <\/td><\/td><\/td>666 <\/td><\/td><\/tr>
Allowance for equity funds used during construction<\/td><\/td>161 <\/td><\/td><\/td>112 <\/td><\/td><\/td>142 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Gains on disposal of investments and other property \u2013 net<\/td><\/td>125 <\/td><\/td><\/td>80 <\/td><\/td><\/td>70 <\/td><\/td><\/tr>
Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds \u2013 net<\/td><\/td>159 <\/td><\/td><\/td>(461)<\/td><\/td><\/td>267 <\/td><\/td><\/tr>
Other net periodic benefit income<\/td><\/td>245 <\/td><\/td><\/td>202 <\/td><\/td><\/td>257 <\/td><\/td><\/tr>
Other \u2013 net<\/td><\/td>333 <\/td><\/td><\/td>200 <\/td><\/td><\/td>130 <\/td><\/td><\/tr>
Total other income (deductions) \u2013 net<\/td><\/td>(2,949)<\/td><\/td><\/td>(249)<\/td><\/td><\/td>262 <\/td><\/td><\/tr>
INCOME BEFORE INCOME TAXES<\/td><\/td>7,288 <\/td><\/td><\/td>3,832 <\/td><\/td><\/td>3,175 <\/td><\/td><\/tr>
INCOME TAXES<\/td><\/td>1,006 <\/td><\/td><\/td>586 <\/td><\/td><\/td>348 <\/td><\/td><\/tr>
NET INCOME<\/td><\/td>6,282 <\/td><\/td><\/td>3,246 <\/td><\/td><\/td>2,827 <\/td><\/td><\/tr>
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS<\/td><\/td>1,028 <\/td><\/td><\/td>901 <\/td><\/td><\/td>746 <\/td><\/td><\/tr>
NET INCOME ATTRIBUTABLE TO NEE<\/td><\/td>$<\/td>7,310 <\/td><\/td><\/td>$<\/td>4,147 <\/td><\/td><\/td>$<\/td>3,573 <\/td><\/td><\/tr>
Earnings per share attributable to NEE:<\/td><\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Basic<\/td><\/td>$<\/td>3.61 <\/td><\/td><\/td>$<\/td>2.10 <\/td><\/td><\/td>$<\/td>1.82 <\/td><\/td><\/tr>
Assuming dilution<\/td><\/td>$<\/td>3.60 <\/td><\/td><\/td>$<\/td>2.10 <\/td><\/td><\/td>$<\/td>1.81 <\/td><\/td><\/tr><\/table>\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n60\n\n\n\n\n, NEXTERA ENERGY INC 10-K form for the fiscal year ended 2023-12-31, page 62: \nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(millions, except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td>December 31,<\/td><\/tr>
<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
ASSETS<\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td><\/td>$<\/td>2,690 <\/td><\/td><\/td>$<\/td>1,601 <\/td><\/td><\/tr>
Customer receivables, net of allowances of $52 and $54, respectively<\/td><\/td>3,609 <\/td><\/td><\/td>4,349 <\/td><\/td><\/tr>
Other receivables<\/td><\/td>944 <\/td><\/td><\/td>744 <\/td><\/td><\/tr>
Materials, supplies and fuel inventory<\/td><\/td>2,106 <\/td><\/td><\/td>1,934 <\/td><\/td><\/tr>
Regulatory assets<\/td><\/td>1,460 <\/td><\/td><\/td>2,165 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>1,730 <\/td><\/td><\/td>1,590 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Contract assets<\/td><\/td>1,487 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Other<\/td><\/td>1,335 <\/td><\/td><\/td>789 <\/td><\/td><\/tr>
Total current assets<\/td><\/td>15,361 <\/td><\/td><\/td>13,490 <\/td><\/td><\/tr>
Other assets:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Property, plant and equipment \u2013 net ($26,900 and $22,927 related to VIEs, respectively)<\/td><\/td>125,776 <\/td><\/td><\/td>111,059 <\/td><\/td><\/tr>
Special use funds<\/td><\/td>8,698 <\/td><\/td><\/td>7,496 <\/td><\/td><\/tr>
Investment in equity method investees<\/td><\/td>6,156 <\/td><\/td><\/td>6,582 <\/td><\/td><\/tr>
Prepaid benefit costs<\/td><\/td>2,112 <\/td><\/td><\/td>1,832 <\/td><\/td><\/tr>
Regulatory assets<\/td><\/td>4,801 <\/td><\/td><\/td>5,992 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>1,790 <\/td><\/td><\/td>1,935 <\/td><\/td><\/tr>
Goodwill<\/td><\/td>5,091 <\/td><\/td><\/td>4,854 <\/td><\/td><\/tr>
Other<\/td><\/td>7,704 <\/td><\/td><\/td>5,695 <\/td><\/td><\/tr>
Total other assets<\/td><\/td>162,128 <\/td><\/td><\/td>145,445 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td><\/td>$<\/td>177,489 <\/td><\/td><\/td>$<\/td>158,935 <\/td><\/td><\/tr>
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY<\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Commercial paper<\/td><\/td>$<\/td>4,650 <\/td><\/td><\/td>$<\/td>1,709 <\/td><\/td><\/tr>
Other short-term debt<\/td><\/td>255 <\/td><\/td><\/td>1,368 <\/td><\/td><\/tr>
Current portion of long-term debt ($66 and $61 related to VIEs, respectively)<\/td><\/td>6,901 <\/td><\/td><\/td>6,633 <\/td><\/td><\/tr>
Accounts payable ($1,718 and $1,250 related to VIEs, respectively)<\/td><\/td>8,504 <\/td><\/td><\/td>8,312 <\/td><\/td><\/tr>
Customer deposits<\/td><\/td>638 <\/td><\/td><\/td>560 <\/td><\/td><\/tr>
Accrued interest and taxes<\/td><\/td>970 <\/td><\/td><\/td>719 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>845 <\/td><\/td><\/td>2,102 <\/td><\/td><\/tr>
Accrued construction-related expenditures<\/td><\/td>1,861 <\/td><\/td><\/td>1,760 <\/td><\/td><\/tr>
Regulatory liabilities<\/td><\/td>340 <\/td><\/td><\/td>350 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td><\/td>2,999 <\/td><\/td><\/td>3,182 <\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>27,963 <\/td><\/td><\/td>26,695 <\/td><\/td><\/tr>
Other liabilities and deferred credits:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Long-term debt ($1,374 and $1,108 related to VIEs, respectively)<\/td><\/td>61,405 <\/td><\/td><\/td>55,256 <\/td><\/td><\/tr>
Asset retirement obligations<\/td><\/td>3,403 <\/td><\/td><\/td>3,245 <\/td><\/td><\/tr>
Deferred income taxes<\/td><\/td>10,142 <\/td><\/td><\/td>9,072 <\/td><\/td><\/tr>
Regulatory liabilities<\/td><\/td>10,049 <\/td><\/td><\/td>9,626 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>2,741 <\/td><\/td><\/td>2,909 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td><\/td>2,762 <\/td><\/td><\/td>2,696 <\/td><\/td><\/tr>
Total other liabilities and deferred credits<\/td><\/td>90,502 <\/td><\/td><\/td>82,804 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td><\/td>118,465 <\/td><\/td><\/td>109,499 <\/td><\/td><\/tr>
COMMITMENTS AND CONTINGENCIES<\/td><\/td><\/td><\/td><\/td><\/tr>
REDEEMABLE NONCONTROLLING INTERESTS \u2013 VIEs<\/td><\/td>1,256 <\/td><\/td><\/td>1,110 <\/td><\/td><\/tr>
EQUITY<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Common stock ($0.01 par value, authorized shares \u2013 3,200; outstanding shares \u2013 2,052 and 1,987, respectively)<\/td><\/td>21 <\/td><\/td><\/td>20 <\/td><\/td><\/tr>
Additional paid-in capital<\/td><\/td>17,365 <\/td><\/td><\/td>12,720 <\/td><\/td><\/tr>
Retained earnings<\/td><\/td>30,235 <\/td><\/td><\/td>26,707 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td><\/td>(153)<\/td><\/td><\/td>(218)<\/td><\/td><\/tr>
Total common shareholders' equity<\/td><\/td>47,468 <\/td><\/td><\/td>39,229 <\/td><\/td><\/tr>
Noncontrolling interests ($10,180 and $9,092 related to VIEs, respectively)<\/td><\/td>10,300 <\/td><\/td><\/td>9,097 <\/td><\/td><\/tr>
TOTAL EQUITY<\/td><\/td>57,768 <\/td><\/td><\/td>48,326 <\/td><\/td><\/tr>
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY<\/td><\/td>$<\/td>177,489 <\/td><\/td><\/td>$<\/td>158,935 <\/td><\/td><\/tr><\/table>\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n62\n\n\n\n\n","context_html_without_headers":"\nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(millions, except per share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td>Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
OPERATING REVENUES<\/td><\/td>$<\/td>28,114 <\/td><\/td><\/td>$<\/td>20,956 <\/td><\/td><\/td>$<\/td>17,069 <\/td><\/td><\/tr>
OPERATING EXPENSES<\/td><\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Fuel, purchased power and interchange<\/td><\/td>5,457 <\/td><\/td><\/td>6,389 <\/td><\/td><\/td>4,527 <\/td><\/td><\/tr>
Other operations and maintenance<\/td><\/td>4,681 <\/td><\/td><\/td>4,428 <\/td><\/td><\/td>3,981 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td><\/td>5,879 <\/td><\/td><\/td>4,503 <\/td><\/td><\/td>3,924 <\/td><\/td><\/tr>
Taxes other than income taxes and other \u2013 net<\/td><\/td>2,265 <\/td><\/td><\/td>2,077 <\/td><\/td><\/td>1,801 <\/td><\/td><\/tr>
Total operating expenses \u2013 net<\/td><\/td>18,282 <\/td><\/td><\/td>17,397 <\/td><\/td><\/td>14,233 <\/td><\/td><\/tr>
GAINS ON DISPOSAL OF BUSINESSES\/ASSETS \u2013 NET<\/td><\/td>405 <\/td><\/td><\/td>522 <\/td><\/td><\/td>77 <\/td><\/td><\/tr>
OPERATING INCOME<\/td><\/td>10,237 <\/td><\/td><\/td>4,081 <\/td><\/td><\/td>2,913 <\/td><\/td><\/tr>
OTHER INCOME (DEDUCTIONS)<\/td><\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Interest expense<\/td><\/td>(3,324)<\/td><\/td><\/td>(585)<\/td><\/td><\/td>(1,270)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Equity in earnings (losses) of equity method investees<\/td><\/td>(648)<\/td><\/td><\/td>203 <\/td><\/td><\/td>666 <\/td><\/td><\/tr>
Allowance for equity funds used during construction<\/td><\/td>161 <\/td><\/td><\/td>112 <\/td><\/td><\/td>142 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Gains on disposal of investments and other property \u2013 net<\/td><\/td>125 <\/td><\/td><\/td>80 <\/td><\/td><\/td>70 <\/td><\/td><\/tr>
Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds \u2013 net<\/td><\/td>159 <\/td><\/td><\/td>(461)<\/td><\/td><\/td>267 <\/td><\/td><\/tr>
Other net periodic benefit income<\/td><\/td>245 <\/td><\/td><\/td>202 <\/td><\/td><\/td>257 <\/td><\/td><\/tr>
Other \u2013 net<\/td><\/td>333 <\/td><\/td><\/td>200 <\/td><\/td><\/td>130 <\/td><\/td><\/tr>
Total other income (deductions) \u2013 net<\/td><\/td>(2,949)<\/td><\/td><\/td>(249)<\/td><\/td><\/td>262 <\/td><\/td><\/tr>
INCOME BEFORE INCOME TAXES<\/td><\/td>7,288 <\/td><\/td><\/td>3,832 <\/td><\/td><\/td>3,175 <\/td><\/td><\/tr>
INCOME TAXES<\/td><\/td>1,006 <\/td><\/td><\/td>586 <\/td><\/td><\/td>348 <\/td><\/td><\/tr>
NET INCOME<\/td><\/td>6,282 <\/td><\/td><\/td>3,246 <\/td><\/td><\/td>2,827 <\/td><\/td><\/tr>
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS<\/td><\/td>1,028 <\/td><\/td><\/td>901 <\/td><\/td><\/td>746 <\/td><\/td><\/tr>
NET INCOME ATTRIBUTABLE TO NEE<\/td><\/td>$<\/td>7,310 <\/td><\/td><\/td>$<\/td>4,147 <\/td><\/td><\/td>$<\/td>3,573 <\/td><\/td><\/tr>
Earnings per share attributable to NEE:<\/td><\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Basic<\/td><\/td>$<\/td>3.61 <\/td><\/td><\/td>$<\/td>2.10 <\/td><\/td><\/td>$<\/td>1.82 <\/td><\/td><\/tr>
Assuming dilution<\/td><\/td>$<\/td>3.60 <\/td><\/td><\/td>$<\/td>2.10 <\/td><\/td><\/td>$<\/td>1.81 <\/td><\/td><\/tr><\/table>\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n60\n\n\n\n\n, \nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(millions, except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td>December 31,<\/td><\/tr>
<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
ASSETS<\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td><\/td>$<\/td>2,690 <\/td><\/td><\/td>$<\/td>1,601 <\/td><\/td><\/tr>
Customer receivables, net of allowances of $52 and $54, respectively<\/td><\/td>3,609 <\/td><\/td><\/td>4,349 <\/td><\/td><\/tr>
Other receivables<\/td><\/td>944 <\/td><\/td><\/td>744 <\/td><\/td><\/tr>
Materials, supplies and fuel inventory<\/td><\/td>2,106 <\/td><\/td><\/td>1,934 <\/td><\/td><\/tr>
Regulatory assets<\/td><\/td>1,460 <\/td><\/td><\/td>2,165 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>1,730 <\/td><\/td><\/td>1,590 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Contract assets<\/td><\/td>1,487 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Other<\/td><\/td>1,335 <\/td><\/td><\/td>789 <\/td><\/td><\/tr>
Total current assets<\/td><\/td>15,361 <\/td><\/td><\/td>13,490 <\/td><\/td><\/tr>
Other assets:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Property, plant and equipment \u2013 net ($26,900 and $22,927 related to VIEs, respectively)<\/td><\/td>125,776 <\/td><\/td><\/td>111,059 <\/td><\/td><\/tr>
Special use funds<\/td><\/td>8,698 <\/td><\/td><\/td>7,496 <\/td><\/td><\/tr>
Investment in equity method investees<\/td><\/td>6,156 <\/td><\/td><\/td>6,582 <\/td><\/td><\/tr>
Prepaid benefit costs<\/td><\/td>2,112 <\/td><\/td><\/td>1,832 <\/td><\/td><\/tr>
Regulatory assets<\/td><\/td>4,801 <\/td><\/td><\/td>5,992 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>1,790 <\/td><\/td><\/td>1,935 <\/td><\/td><\/tr>
Goodwill<\/td><\/td>5,091 <\/td><\/td><\/td>4,854 <\/td><\/td><\/tr>
Other<\/td><\/td>7,704 <\/td><\/td><\/td>5,695 <\/td><\/td><\/tr>
Total other assets<\/td><\/td>162,128 <\/td><\/td><\/td>145,445 <\/td><\/td><\/tr>
TOTAL ASSETS<\/td><\/td>$<\/td>177,489 <\/td><\/td><\/td>$<\/td>158,935 <\/td><\/td><\/tr>
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY<\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Commercial paper<\/td><\/td>$<\/td>4,650 <\/td><\/td><\/td>$<\/td>1,709 <\/td><\/td><\/tr>
Other short-term debt<\/td><\/td>255 <\/td><\/td><\/td>1,368 <\/td><\/td><\/tr>
Current portion of long-term debt ($66 and $61 related to VIEs, respectively)<\/td><\/td>6,901 <\/td><\/td><\/td>6,633 <\/td><\/td><\/tr>
Accounts payable ($1,718 and $1,250 related to VIEs, respectively)<\/td><\/td>8,504 <\/td><\/td><\/td>8,312 <\/td><\/td><\/tr>
Customer deposits<\/td><\/td>638 <\/td><\/td><\/td>560 <\/td><\/td><\/tr>
Accrued interest and taxes<\/td><\/td>970 <\/td><\/td><\/td>719 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>845 <\/td><\/td><\/td>2,102 <\/td><\/td><\/tr>
Accrued construction-related expenditures<\/td><\/td>1,861 <\/td><\/td><\/td>1,760 <\/td><\/td><\/tr>
Regulatory liabilities<\/td><\/td>340 <\/td><\/td><\/td>350 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td><\/td>2,999 <\/td><\/td><\/td>3,182 <\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>27,963 <\/td><\/td><\/td>26,695 <\/td><\/td><\/tr>
Other liabilities and deferred credits:<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Long-term debt ($1,374 and $1,108 related to VIEs, respectively)<\/td><\/td>61,405 <\/td><\/td><\/td>55,256 <\/td><\/td><\/tr>
Asset retirement obligations<\/td><\/td>3,403 <\/td><\/td><\/td>3,245 <\/td><\/td><\/tr>
Deferred income taxes<\/td><\/td>10,142 <\/td><\/td><\/td>9,072 <\/td><\/td><\/tr>
Regulatory liabilities<\/td><\/td>10,049 <\/td><\/td><\/td>9,626 <\/td><\/td><\/tr>
Derivatives<\/td><\/td>2,741 <\/td><\/td><\/td>2,909 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other<\/td><\/td>2,762 <\/td><\/td><\/td>2,696 <\/td><\/td><\/tr>
Total other liabilities and deferred credits<\/td><\/td>90,502 <\/td><\/td><\/td>82,804 <\/td><\/td><\/tr>
TOTAL LIABILITIES<\/td><\/td>118,465 <\/td><\/td><\/td>109,499 <\/td><\/td><\/tr>
COMMITMENTS AND CONTINGENCIES<\/td><\/td><\/td><\/td><\/td><\/tr>
REDEEMABLE NONCONTROLLING INTERESTS \u2013 VIEs<\/td><\/td>1,256 <\/td><\/td><\/td>1,110 <\/td><\/td><\/tr>
EQUITY<\/td><\/td> <\/td><\/td> <\/td><\/tr>
Common stock ($0.01 par value, authorized shares \u2013 3,200; outstanding shares \u2013 2,052 and 1,987, respectively)<\/td><\/td>21 <\/td><\/td><\/td>20 <\/td><\/td><\/tr>
Additional paid-in capital<\/td><\/td>17,365 <\/td><\/td><\/td>12,720 <\/td><\/td><\/tr>
Retained earnings<\/td><\/td>30,235 <\/td><\/td><\/td>26,707 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td><\/td>(153)<\/td><\/td><\/td>(218)<\/td><\/td><\/tr>
Total common shareholders' equity<\/td><\/td>47,468 <\/td><\/td><\/td>39,229 <\/td><\/td><\/tr>
Noncontrolling interests ($10,180 and $9,092 related to VIEs, respectively)<\/td><\/td>10,300 <\/td><\/td><\/td>9,097 <\/td><\/td><\/tr>
TOTAL EQUITY<\/td><\/td>57,768 <\/td><\/td><\/td>48,326 <\/td><\/td><\/tr>
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY<\/td><\/td>$<\/td>177,489 <\/td><\/td><\/td>$<\/td>158,935 <\/td><\/td><\/tr><\/table>\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\n62\n\n\n\n\n"} +{"QID":"q_Ra037","Question":"How does Apple Inc.'s Return on Equity (ROE) for 2023 compare with that of 2022? ","ground_truth_answer":"Method 1: Using End-of-Year Shareholders' Equity\nReturn on Equity (ROE) is calculated using the formula:\nROE = (Net Income \/ Shareholder's Equity) * 100.\n\nFor 2023:\nNet Income = $96,995 million\nShareholder's Equity = $62,146 million\nROE = ($96,995 million \/ $62,146 million) * 100 = 156.1%\n\nFor 2022:\nNet Income = $99,803 million\nShareholder's Equity = $50,672 million\nROE = ($99,803 million \/ $50,672 million) * 100 = 196.9%\n\nAnalysis:\nThe ROE for Apple Inc. decreased from 196.9% in 2022 to 156.1% in 2023.\n\nMethod 2: Using Average Shareholders' Equity\nReturn on Equity (ROE) is calculated using the formula:\nROE = (Net Income \/ Average Shareholder's Equity) * 100.\n\nFor 2023:\nNet Income = $96,995 million\nShareholder's Equity (2022) = $50,672 million\nShareholder's Equity (2023) = $62,146 million\nAverage Shareholder's Equity = ($50,672 million + $62,146 million) \/ 2 = $56,409 million\nROE = ($96,995 million \/ $56,409 million) * 100 = 172%\n\nFor 2022:\nNet Income = $99,803 million\nShareholder's Equity (2021) = $63,090 million\nShareholder's Equity (2022) = $50,672 million\nAverage Shareholder's Equity = ($63,090 million + $50,672 million) \/ 2 = $56,881 million\nROE = ($99,803 million \/ $56,881 million) * 100 = 175%\n\nAnalysis:\nThe ROE for Apple Inc. decreased slightly from 175% in 2022 to 172% in 2023.","question_type":"Ratio","page_number":"28, 30, 31","accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 31: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY\n\n(In millions, except per-share amounts)\n| | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------|:------------------|:-------|:------------------|:---------|:------------------|:-------|:---------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Total shareholders' equity, beginning balances | $ | 50,672 | | | $ | 63,090 | | $ | 65,339 |\n| 5 | Common stock and additional paid-in capital: | | | | | | | | | |\n| 6 | Beginning balances | 64,849 | | | 57,365 | | | 50,779 | | |\n| 7 | Common stock issued | 1,346 | | | 1,175 | | | 1,105 | | |\n| 8 | Common stock withheld related to net share settlement of equity awards | (3,521) | | | (2,971) | | | (2,627) | | |\n| 9 | Share-based compensation | 11,138 | | | 9,280 | | | 8,108 | | |\n| 10 | Ending balances | 73,812 | | | 64,849 | | | 57,365 | | |\n| 12 | Retained earnings\/(Accumulated deficit): | | | | | | | | | |\n| 13 | Beginning balances | (3,068) | | | 5,562 | | | 14,966 | | |\n| 14 | Net income | 96,995 | | | 99,803 | | | 94,680 | | |\n| 15 | Dividends and dividend equivalents declared | (14,996) | | | (14,793) | | | (14,431) | | |\n| 16 | Common stock withheld related to net share settlement of equity awards | (2,099) | | | (3,454) | | | (4,151) | | |\n| 17 | Common stock repurchased | (77,046) | | | (90,186) | | | (85,502) | | |\n| 18 | Ending balances | (214) | | | (3,068) | | | 5,562 | | |\n| 20 | Accumulated other comprehensive income\/(loss): | | | | | | | | | |\n| 21 | Beginning balances | (11,109) | | | 163 | | | (406) | | |\n| 22 | Other comprehensive income\/(loss) | (343) | | | (11,272) | | | 569 | | |\n| 23 | Ending balances | (11,452) | | | (11,109) | | | 163 | | |\n| 25 | Total shareholders' equity, ending balances | $ | 62,146 | | | $ | 50,672 | | $ | 63,090 |\n| 27 | Dividends and dividend equivalents declared per share or RSU | $ | 0.94 | | | $ | 0.90 | | $ | 0.85 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 31\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY\n\n(In millions, except per-share amounts)\n| | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------|:------------------|:-------|:------------------|:---------|:------------------|:-------|:---------|:---|:-------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Total shareholders' equity, beginning balances | $ | 50,672 | | | $ | 63,090 | | $ | 65,339 |\n| 5 | Common stock and additional paid-in capital: | | | | | | | | | |\n| 6 | Beginning balances | 64,849 | | | 57,365 | | | 50,779 | | |\n| 7 | Common stock issued | 1,346 | | | 1,175 | | | 1,105 | | |\n| 8 | Common stock withheld related to net share settlement of equity awards | (3,521) | | | (2,971) | | | (2,627) | | |\n| 9 | Share-based compensation | 11,138 | | | 9,280 | | | 8,108 | | |\n| 10 | Ending balances | 73,812 | | | 64,849 | | | 57,365 | | |\n| 12 | Retained earnings\/(Accumulated deficit): | | | | | | | | | |\n| 13 | Beginning balances | (3,068) | | | 5,562 | | | 14,966 | | |\n| 14 | Net income | 96,995 | | | 99,803 | | | 94,680 | | |\n| 15 | Dividends and dividend equivalents declared | (14,996) | | | (14,793) | | | (14,431) | | |\n| 16 | Common stock withheld related to net share settlement of equity awards | (2,099) | | | (3,454) | | | (4,151) | | |\n| 17 | Common stock repurchased | (77,046) | | | (90,186) | | | (85,502) | | |\n| 18 | Ending balances | (214) | | | (3,068) | | | 5,562 | | |\n| 20 | Accumulated other comprehensive income\/(loss): | | | | | | | | | |\n| 21 | Beginning balances | (11,109) | | | 163 | | | (406) | | |\n| 22 | Other comprehensive income\/(loss) | (343) | | | (11,272) | | | 569 | | |\n| 23 | Ending balances | (11,452) | | | (11,109) | | | 163 | | |\n| 25 | Total shareholders' equity, ending balances | $ | 62,146 | | | $ | 50,672 | | $ | 63,090 |\n| 27 | Dividends and dividend equivalents declared per share or RSU | $ | 0.94 | | | $ | 0.90 | | $ | 0.85 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 31\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 31: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY\n\n(In millions, except per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Total shareholders' equity, beginning balances<\/td>$<\/td>50,672 <\/td><\/td><\/td>$<\/td>63,090 <\/td><\/td><\/td>$<\/td>65,339 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>64,849 <\/td><\/td><\/td>57,365 <\/td><\/td><\/td>50,779 <\/td><\/td><\/tr>
Common stock issued<\/td>1,346 <\/td><\/td><\/td>1,175 <\/td><\/td><\/td>1,105 <\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(3,521)<\/td><\/td><\/td>(2,971)<\/td><\/td><\/td>(2,627)<\/td><\/td><\/tr>
Share-based compensation<\/td>11,138 <\/td><\/td><\/td>9,280 <\/td><\/td><\/td>8,108 <\/td><\/td><\/tr>
Ending balances<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/td>57,365 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(3,068)<\/td><\/td><\/td>5,562 <\/td><\/td><\/td>14,966 <\/td><\/td><\/tr>
Net income<\/td>96,995 <\/td><\/td><\/td>99,803 <\/td><\/td><\/td>94,680 <\/td><\/td><\/tr>
Dividends and dividend equivalents declared<\/td>(14,996)<\/td><\/td><\/td>(14,793)<\/td><\/td><\/td>(14,431)<\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(2,099)<\/td><\/td><\/td>(3,454)<\/td><\/td><\/td>(4,151)<\/td><\/td><\/tr>
Common stock repurchased<\/td>(77,046)<\/td><\/td><\/td>(90,186)<\/td><\/td><\/td>(85,502)<\/td><\/td><\/tr>
Ending balances<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/td>5,562 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income\/(loss):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(11,109)<\/td><\/td><\/td>163 <\/td><\/td><\/td>(406)<\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(343)<\/td><\/td><\/td>(11,272)<\/td><\/td><\/td>569 <\/td><\/td><\/tr>
Ending balances<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/td>163 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total shareholders' equity, ending balances<\/td>$<\/td>62,146 <\/td><\/td><\/td>$<\/td>50,672 <\/td><\/td><\/td>$<\/td>63,090 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Dividends and dividend equivalents declared per share or RSU<\/td>$<\/td>0.94 <\/td><\/td><\/td>$<\/td>0.90 <\/td><\/td><\/td>$<\/td>0.85 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 31\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY\n\n(In millions, except per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Total shareholders' equity, beginning balances<\/td>$<\/td>50,672 <\/td><\/td><\/td>$<\/td>63,090 <\/td><\/td><\/td>$<\/td>65,339 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>64,849 <\/td><\/td><\/td>57,365 <\/td><\/td><\/td>50,779 <\/td><\/td><\/tr>
Common stock issued<\/td>1,346 <\/td><\/td><\/td>1,175 <\/td><\/td><\/td>1,105 <\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(3,521)<\/td><\/td><\/td>(2,971)<\/td><\/td><\/td>(2,627)<\/td><\/td><\/tr>
Share-based compensation<\/td>11,138 <\/td><\/td><\/td>9,280 <\/td><\/td><\/td>8,108 <\/td><\/td><\/tr>
Ending balances<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/td>57,365 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(3,068)<\/td><\/td><\/td>5,562 <\/td><\/td><\/td>14,966 <\/td><\/td><\/tr>
Net income<\/td>96,995 <\/td><\/td><\/td>99,803 <\/td><\/td><\/td>94,680 <\/td><\/td><\/tr>
Dividends and dividend equivalents declared<\/td>(14,996)<\/td><\/td><\/td>(14,793)<\/td><\/td><\/td>(14,431)<\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(2,099)<\/td><\/td><\/td>(3,454)<\/td><\/td><\/td>(4,151)<\/td><\/td><\/tr>
Common stock repurchased<\/td>(77,046)<\/td><\/td><\/td>(90,186)<\/td><\/td><\/td>(85,502)<\/td><\/td><\/tr>
Ending balances<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/td>5,562 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income\/(loss):<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(11,109)<\/td><\/td><\/td>163 <\/td><\/td><\/td>(406)<\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(343)<\/td><\/td><\/td>(11,272)<\/td><\/td><\/td>569 <\/td><\/td><\/tr>
Ending balances<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/td>163 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total shareholders' equity, ending balances<\/td>$<\/td>62,146 <\/td><\/td><\/td>$<\/td>50,672 <\/td><\/td><\/td>$<\/td>63,090 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Dividends and dividend equivalents declared per share or RSU<\/td>$<\/td>0.94 <\/td><\/td><\/td>$<\/td>0.90 <\/td><\/td><\/td>$<\/td>0.85 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 31\n\n\n\n\n\n"} +{"QID":"q_Ra038","Question":"What changes occurred in Apple Inc.'s Earnings Per Share (EPS) from 2021 to 2023? ","ground_truth_answer":"The Earnings Per Share (EPS) for Apple Inc. for the years 2021, 2022, and 2023 are as follows:\n\nFY 2021\nBasic EPS = $5.67\nDiluted EPS = $5.61\n\nFY 2022\nBasic EPS = $6.15\nDiluted EPS = $6.11\n\nFY 2023\nBasic EPS = $6.16\nDiluted EPS = $6.13\n","question_type":"Ratio","page_number":28,"accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n"} +{"QID":"q_Ra039","Question":"How did Apple Inc.'s Gross Profit Margin evolve between 2021 and 2023?","ground_truth_answer":"Gross Profit Margin is calculated using the formula: Gross Profit Margin = (Gross Margin \/ Total Net Sales) * 100.\n\nFor 2021:\nGross Margin = $152,836 million\nTotal Net Sales = $365,817 million\nGross Profit Margin = ($152,836 million \/ $365,817 million) * 100 = 41.8%\n\nFor 2022:\nGross Margin = $170,782 million\nTotal Net Sales = $394,328 million\nGross Profit Margin = ($170,782 million \/ $394,328 million) * 100 = 43.3%\n\nFor 2023:\nGross Margin = $169,148 million\nTotal Net Sales = $383,285 million\nGross Profit Margin = ($169,148 million \/ $383,285 million) * 100 = 44.1%","question_type":"Ratio","page_number":28,"accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n"} +{"QID":"q_Ra040","Question":"What was Apple Inc.'s Debt to Equity Ratio for 2023, and how does it compare to the ratio from 2022?","ground_truth_answer":"Debt to Equity Ratio is calculated using the formula: Debt to Equity Ratio = Total Debt \/ Shareholders' Equity.\n\nFor 2023:\nTotal Debt = Current Term Debt + Non-current Term Debt = $9,822 million + $95,281 million = $105,103 million\nShareholders' Equity = $62,146 million\nDebt to Equity Ratio = $105,103 million \/ $62,146 million = 1.69\n\nFor 2022:\nTotal Debt = Current Term Debt + Non-current Term Debt = $11,128 million + $98,959 million = $110,087 million\nShareholders' Equity = $50,672 million\nDebt to Equity Ratio = $110,087 million \/ $50,672 million = 2.17\n\nAnalysis:\nThe Debt to Equity Ratio for Apple Inc. decreased from 2.17 in 2022 to 1.69 in 2023.","question_type":"Ratio","page_number":30,"accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n"} +{"QID":"q_Ra041","Question":"What is the Long-term Debt to Capitalization Ratio for Apple Inc. for the year 2023, and how does it compare to 2022?","ground_truth_answer":"Long-term Debt to Capitalization Ratio is calculated using the formula: Long-term Debt to Capitalization Ratio = Long-term Debt \/ (Long-term Debt + Shareholders' Equity).\n\nFor 2023:\nLong-term Debt = $95,281 million\nShareholders' Equity = $62,146 million\nLong-term Debt to Capitalization Ratio = $95,281 million \/ ($95,281 million + $62,146 million) = 0.61\n\nFor 2022:\nLong-term Debt = $98,959 million\nShareholders' Equity = $50,672 million\nLong-term Debt to Capitalization Ratio = $98,959 million \/ ($98,959 million + $50,672 million) = 0.66","question_type":"Ratio","page_number":30,"accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n"} +{"QID":"q_Ra042","Question":"How did the Financial Leverage Ratio chnage for Apple Inc. change from 2022 to 2023?","ground_truth_answer":"Financial Leverage Ratio is calculated using the formula: Financial Leverage Ratio = Total Assets \/ Shareholders' Equity.\n\nFor 2023:\nTotal Assets = $352,583 million\nShareholders' Equity = $62,146 million\nFinancial Leverage Ratio = $352,583 million \/ $62,146 million = 5.67\n\nFor 2022:\nTotal Assets = $352,755 million\nShareholders' Equity = $50,672 million\nFinancial Leverage Ratio = $352,755 million \/ $50,672 million = 6.96","question_type":"Ratio","page_number":30,"accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n"} +{"QID":"q_Ra043","Question":"What is the Current Ratio for Apple Inc. for the year 2023, and how does it compare to 2022?","ground_truth_answer":"Current Ratio is calculated using the formula: Current Ratio = Current Assets \/ Current Liabilities.\n\nFor 2023:\nCurrent Assets = $143,566 million\nCurrent Liabilities = $145,308 million\nCurrent Ratio = $143,566 million \/ $145,308 million = 0.99\n\nFor 2022:\nCurrent Assets = $135,405 million\nCurrent Liabilities = $153,982 million\nCurrent Ratio = $135,405 million \/ $153,982 million = 0.88\n\nAnalysis:\nThe Current Ratio for Apple Inc. increased from 0.88 in 2022 to 0.99 in 2023. This improvement indicates a better liquidity position, with the company having nearly enough current assets to cover its current liabilities. The increase in the Current Ratio suggests that Apple Inc. has enhanced its ability to meet short-term obligations, reflecting improved financial health. However, a Current Ratio below 1 still indicates that the company has more current liabilities than current assets, which could pose liquidity risks. The upward trend is positive, but further improvement is needed to achieve a more comfortable liquidity position.","question_type":"Ratio","page_number":30,"accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n"} +{"QID":"q_Ra044","Question":"How did the Quick Ratio for Apple Inc. change from 2022 to 2023?","ground_truth_answer":"Method 1: Quick Ratio is calculated using the formula: Quick Ratio = (Current Assets - Inventory) \/ Current Liabilities.\n\nFor 2023:\nCurrent Assets = $143,566 million\nInventory = $6,331 million\nCurrent Liabilities = $145,308 million\nQuick Ratio = ($143,566 million - $6,331 million) \/ $145,308 million = 0.95\n\nFor 2022:\nCurrent Assets = $135,405 million\nInventory = $4,946 million\nCurrent Liabilities = $153,982 million\nQuick Ratio = ($135,405 million - $4,946 million) \/ $153,982 million = 0.85\n\nAnalysis:\nThe Quick Ratio for Apple Inc. increased from 0.85 in 2022 to 0.95 in 2023. This improvement indicates a better liquidity position, with the company having more liquid assets (excluding inventory) to cover its current liabilities. The increase in the Quick Ratio suggests that Apple Inc. has enhanced its ability to meet short-term obligations without relying on the sale of inventory. The upward trend is a positive indicator of improved financial health and liquidity management. However, a Quick Ratio below 1 still indicates that the company has more current liabilities than liquid assets, which could pose liquidity risks. Further improvement is needed to achieve a more comfortable liquidity position.\nMethod 2: \nUsing the Formula Quick Ratio = (Cash and Cash Equivalents + Marketable Securities + Accounts Receivable) \/ Current Liabilities\n\nFor 2023:\n\nCash and Cash Equivalents = $29,965 million\nMarketable Securities (current) = $31,590 million\nAccounts Receivable = $29,508 million\nCurrent Liabilities = $145,308 million\nQuick Ratio = ($29,965 million + $31,590 million + $29,508 million) \/ $145,308 million\nQuick Ratio = $91,063 million \/ $145,308 million = 0.63\nFor 2022:\n\nCash and Cash Equivalents = $23,646 million\nMarketable Securities (current) = $24,658 million\nAccounts Receivable = $28,184 million\nCurrent Liabilities = $153,982 million\nQuick Ratio = ($23,646 million + $24,658 million + $28,184 million) \/ $153,982 million\nQuick Ratio = $76,488 million \/ $153,982 million = 0.50\nAnalysis (Method 2):\nThe Quick Ratio increased from 0.50 in 2022 to 0.63 in 2023, highlighting an improvement in Apple Inc.'s ability to meet short-term obligations using its most liquid assets.\n","question_type":"Ratio","page_number":30,"accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n"} +{"QID":"q_Ra045","Question":"What is the Cash Ratio for Apple Inc. for the year 2023, and how it varies from 2022?","ground_truth_answer":"Cash Ratio is calculated using the formula: Cash Ratio = Cash & Cash Equivalents \/ Current Liabilities.\n\nFor 2023:\nCash & Cash Equivalents = $29,965 million\nCurrent Liabilities = $145,308 million\nCash Ratio = $29,965 million \/ $145,308 million = 0.21\n\nFor 2022:\nCash & Cash Equivalents = $23,646 million\nCurrent Liabilities = $153,982 million\nCash Ratio = $23,646 million \/ $153,982 million = 0.15","question_type":"Ratio","page_number":30,"accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n"} +{"QID":"q_Ra046","Question":"What is the Inventory Turnover Ratio for Apple Inc. for the fiscal year 2023?","ground_truth_answer":"The Inventory Turnover ratio is calculated using the formula: Inventory Turnover = Cost of Goods Sold \/ Average Inventory. For Apple Inc. in 2023, the Cost of Goods Sold (Total cost of sales) is $214,137 million. The average inventory is calculated as the average of the inventory at the beginning and end of the year. The inventory at the end of 2023 is $6,331 million, and at the end of 2022, it was $4,946 million. Therefore, the average inventory is ($6,331 million + $4,946 million) \/ 2 = $5,638.5 million. The Inventory Turnover ratio is $214,137 million \/ $5,638.5 million = 37.98.","question_type":"Ratio","page_number":"28, 30","accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n"} +{"QID":"q_Ra047","Question":"How is the Receivables Turnover Ratio calculated for Apple Inc. in 2023.","ground_truth_answer":"The Receivables Turnover ratio is calculated using the formula: Receivables Turnover = Net Credit Sales \/ Average Accounts Receivable. For Apple Inc. in 2023, the Net Sales (Total net sales) is $383,285 million. The average accounts receivable is calculated as the average of the accounts receivable at the beginning and end of the year. The accounts receivable at the end of 2023 is $29,508 million, and at the end of 2022, it was $28,184 million. Therefore, the average accounts receivable is ($29,508 million + $28,184 million) \/ 2 = $28,846 million. The Receivables Turnover ratio is $383,285 million \/ $28,846 million = 13.29.","question_type":"Ratio","page_number":"28, 30","accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n"} +{"QID":"q_Ra048","Question":"What is the Payables Turnover Ratio for Apple Inc. for the year 2023?","ground_truth_answer":"The Payables Turnover ratio is calculated using the formula: Payables Turnover = Cost of Goods Sold \/ Average Accounts Payable. For Apple Inc. in 2023, the Cost of Goods Sold (Total cost of sales) is $214,137 million. The average accounts payable is calculated as the average of the accounts payable at the beginning and end of the year. The accounts payable at the end of 2023 is $62,611 million, and at the end of 2022, it was $64,115 million. Therefore, the average accounts payable is ($62,611 million + $64,115 million) \/ 2 = $63,363 million. The Payables Turnover ratio is $214,137 million \/ $63,363 million = 3.38","question_type":"Ratio","page_number":"28, 30","accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n"} +{"QID":"q_Ra049","Question":"How many days does it take for Apple Inc. to sell its inventory (DSI) in 2023?","ground_truth_answer":"The Days Sales of Inventory (DSI) is calculated using the formula: DSI = (Average Inventory \/ Cost of Goods Sold) * Number of Days. For Apple Inc. in 2023, the average inventory is $5,638.5 million, and the Cost of Goods Sold is $214,137 million. The number of days in a year is 365. Therefore, DSI = ($5,638.5 million \/ $214,137 million) * 365 = 9.61 days.","question_type":"Ratio","page_number":"28, 30","accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n"} +{"QID":"q_Ra050","Question":"What is the Fixed Asset Turnover Ratio for Apple Inc. for the year 2023?","ground_truth_answer":"The Fixed Asset Turnover Ratio is calculated using the formula: Fixed Asset Turnover Ratio = Net Sales \/ Average Net Fixed Assets. For Apple Inc. in 2023, the Net Sales (Total net sales) is $383,285 million. The average net fixed assets are calculated as the average of the net fixed assets (Property, plant, and equipment, net) at the beginning and end of the year. The net fixed assets at the end of 2023 are $43,715 million, and at the end of 2022, they were $42,117 million. Therefore, the average net fixed assets are ($43,715 million + $42,117 million) \/ 2 = $42,916 million. The Fixed Asset Turnover Ratio is $383,285 million \/ $42,916 million = 8.93.","question_type":"Ratio","page_number":"28, 30","accession_number":"0000320193-23-000106","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n| | | | | | | | | | | |\n|---:|:---------------------------------------------|:------------------|:--------|:------------------|:-----------|:------------------|:--------|:-----------|:---|:--------|\n| 1 | | Years ended | | | | | | | | |\n| 2 | | September 30,2023 | | September 24,2022 | | September 25,2021 | | | | |\n| 3 | Net sales: | | | | | | | | | |\n| 4 | Products | $ | 298,085 | | | $ | 316,199 | | $ | 297,392 |\n| 5 | Services | 85,200 | | | 78,129 | | | 68,425 | | |\n| 6 | Total net sales | 383,285 | | | 394,328 | | | 365,817 | | |\n| 8 | Cost of sales: | | | | | | | | | |\n| 9 | Products | 189,282 | | | 201,471 | | | 192,266 | | |\n| 10 | Services | 24,855 | | | 22,075 | | | 20,715 | | |\n| 11 | Total cost of sales | 214,137 | | | 223,546 | | | 212,981 | | |\n| 12 | Gross margin | 169,148 | | | 170,782 | | | 152,836 | | |\n| 14 | Operating expenses: | | | | | | | | | |\n| 15 | Research and development | 29,915 | | | 26,251 | | | 21,914 | | |\n| 16 | Selling, general and administrative | 24,932 | | | 25,094 | | | 21,973 | | |\n| 17 | Total operating expenses | 54,847 | | | 51,345 | | | 43,887 | | |\n| 19 | Operating income | 114,301 | | | 119,437 | | | 108,949 | | |\n| 20 | Other income\/(expense), net | (565) | | | (334) | | | 258 | | |\n| 21 | Income before provision for income taxes | 113,736 | | | 119,103 | | | 109,207 | | |\n| 22 | Provision for income taxes | 16,741 | | | 19,300 | | | 14,527 | | |\n| 23 | Net income | $ | 96,995 | | | $ | 99,803 | | $ | 94,680 |\n| 25 | Earnings per share: | | | | | | | | | |\n| 26 | Basic | $ | 6.16 | | | $ | 6.15 | | $ | 5.67 |\n| 27 | Diluted | $ | 6.13 | | | $ | 6.11 | | $ | 5.61 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | |\n| 30 | Basic | 15,744,231 | | | 16,215,963 | | | 16,701,272 | | |\n| 31 | Diluted | 15,812,547 | | | 16,325,819 | | | 16,864,919 | | |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:------------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | September 30,2023 | | September 24,2022 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 29,965 | | | $ | 23,646 |\n| 5 | Marketable securities | 31,590 | | | 24,658 | | |\n| 6 | Accounts receivable, net | 29,508 | | | 28,184 | | |\n| 7 | Vendor non-trade receivables | 31,477 | | | 32,748 | | |\n| 8 | Inventories | 6,331 | | | 4,946 | | |\n| 9 | Other current assets | 14,695 | | | 21,223 | | |\n| 10 | Total current assets | 143,566 | | | 135,405 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 100,544 | | | 120,805 | | |\n| 14 | Property, plant and equipment, net | 43,715 | | | 42,117 | | |\n| 15 | Other non-current assets | 64,758 | | | 54,428 | | |\n| 16 | Total non-current assets | 209,017 | | | 217,350 | | |\n| 17 | Total assets | $ | 352,583 | | | $ | 352,755 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 62,611 | | | $ | 64,115 |\n| 22 | Other current liabilities | 58,829 | | | 60,845 | | |\n| 23 | Deferred revenue | 8,061 | | | 7,912 | | |\n| 24 | Commercial paper | 5,985 | | | 9,982 | | |\n| 25 | Term debt | 9,822 | | | 11,128 | | |\n| 26 | Total current liabilities | 145,308 | | | 153,982 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 95,281 | | | 98,959 | | |\n| 30 | Other non-current liabilities | 49,848 | | | 49,142 | | |\n| 31 | Total non-current liabilities | 145,129 | | | 148,101 | | |\n| 32 | Total liabilities | 290,437 | | | 302,083 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively | 73,812 | | | 64,849 | | |\n| 38 | Accumulated deficit | (214) | | | (3,068) | | |\n| 39 | Accumulated other comprehensive loss | (11,452) | | | (11,109) | | |\n| 40 | Total shareholders' equity | 62,146 | | | 50,672 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 352,583 | | | $ | 352,755 |\n\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 30: \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Years ended<\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/td>September 25,2021<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>298,085 <\/td><\/td><\/td>$<\/td>316,199 <\/td><\/td><\/td>$<\/td>297,392 <\/td><\/td><\/tr>
Services<\/td>85,200 <\/td><\/td><\/td>78,129 <\/td><\/td><\/td>68,425 <\/td><\/td><\/tr>
Total net sales<\/td>383,285 <\/td><\/td><\/td>394,328 <\/td><\/td><\/td>365,817 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>189,282 <\/td><\/td><\/td>201,471 <\/td><\/td><\/td>192,266 <\/td><\/td><\/tr>
Services<\/td>24,855 <\/td><\/td><\/td>22,075 <\/td><\/td><\/td>20,715 <\/td><\/td><\/tr>
Total cost of sales<\/td>214,137 <\/td><\/td><\/td>223,546 <\/td><\/td><\/td>212,981 <\/td><\/td><\/tr>
Gross margin<\/td>169,148 <\/td><\/td><\/td>170,782 <\/td><\/td><\/td>152,836 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>29,915 <\/td><\/td><\/td>26,251 <\/td><\/td><\/td>21,914 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>24,932 <\/td><\/td><\/td>25,094 <\/td><\/td><\/td>21,973 <\/td><\/td><\/tr>
Total operating expenses<\/td>54,847 <\/td><\/td><\/td>51,345 <\/td><\/td><\/td>43,887 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>114,301 <\/td><\/td><\/td>119,437 <\/td><\/td><\/td>108,949 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>(565)<\/td><\/td><\/td>(334)<\/td><\/td><\/td>258 <\/td><\/td><\/tr>
Income before provision for income taxes<\/td>113,736 <\/td><\/td><\/td>119,103 <\/td><\/td><\/td>109,207 <\/td><\/td><\/tr>
Provision for income taxes<\/td>16,741 <\/td><\/td><\/td>19,300 <\/td><\/td><\/td>14,527 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>96,995 <\/td><\/td><\/td>$<\/td>99,803 <\/td><\/td><\/td>$<\/td>94,680 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>6.16 <\/td><\/td><\/td>$<\/td>6.15 <\/td><\/td><\/td>$<\/td>5.67 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>6.13 <\/td><\/td><\/td>$<\/td>6.11 <\/td><\/td><\/td>$<\/td>5.61 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,744,231 <\/td><\/td><\/td>16,215,963 <\/td><\/td><\/td>16,701,272 <\/td><\/td><\/tr>
Diluted<\/td>15,812,547 <\/td><\/td><\/td>16,325,819 <\/td><\/td><\/td>16,864,919 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 28\n\n\n\n\n\n, \nApple Inc.\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>September 30,2023<\/td><\/td>September 24,2022<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>29,965 <\/td><\/td><\/td>$<\/td>23,646 <\/td><\/td><\/tr>
Marketable securities<\/td>31,590 <\/td><\/td><\/td>24,658 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>29,508 <\/td><\/td><\/td>28,184 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>31,477 <\/td><\/td><\/td>32,748 <\/td><\/td><\/tr>
Inventories<\/td>6,331 <\/td><\/td><\/td>4,946 <\/td><\/td><\/tr>
Other current assets<\/td>14,695 <\/td><\/td><\/td>21,223 <\/td><\/td><\/tr>
Total current assets<\/td>143,566 <\/td><\/td><\/td>135,405 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>100,544 <\/td><\/td><\/td>120,805 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,715 <\/td><\/td><\/td>42,117 <\/td><\/td><\/tr>
Other non-current assets<\/td>64,758 <\/td><\/td><\/td>54,428 <\/td><\/td><\/tr>
Total non-current assets<\/td>209,017 <\/td><\/td><\/td>217,350 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>62,611 <\/td><\/td><\/td>$<\/td>64,115 <\/td><\/td><\/tr>
Other current liabilities<\/td>58,829 <\/td><\/td><\/td>60,845 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,061 <\/td><\/td><\/td>7,912 <\/td><\/td><\/tr>
Commercial paper<\/td>5,985 <\/td><\/td><\/td>9,982 <\/td><\/td><\/tr>
Term debt<\/td>9,822 <\/td><\/td><\/td>11,128 <\/td><\/td><\/tr>
Total current liabilities<\/td>145,308 <\/td><\/td><\/td>153,982 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>95,281 <\/td><\/td><\/td>98,959 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>49,848 <\/td><\/td><\/td>49,142 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>145,129 <\/td><\/td><\/td>148,101 <\/td><\/td><\/tr>
Total liabilities<\/td>290,437 <\/td><\/td><\/td>302,083 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively<\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>62,146 <\/td><\/td><\/td>50,672 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>352,583 <\/td><\/td><\/td>$<\/td>352,755 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Consolidated Financial Statements.\n\n\nApple Inc. | 2023 Form 10-K | 30\n\n\n\n\n\n"} +{"QID":"q_Ra051","Question":"What is NVIDIA's Return on Equity (ROE) for the year 2024, and how does it compare to the ROE reported in 2023?","ground_truth_answer":"Return on Equity (ROE) is calculated using the formula: ROE = (Net Income \/ Shareholder's Equity) * 100.\n\nFor 2024:\nNet Income = $29,760 million\nShareholder's Equity = $42,978 million\nROE = ($29,760 \/ $42,978) * 100 = 69.2%\n\nFor 2023:\nNet Income = $4,368 million\nShareholder's Equity = $22,101 million\nROE = ($4,368 \/ $22,101) * 100 = 19.8%","question_type":"Ratio","page_number":"50, 52","accession_number":"0001045810-24-000029","item":"Item 15. Exhibit and Financial Statement Schedules","context_markdown_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n, NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_markdown_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n, \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n, NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n, \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n"} +{"QID":"q_Ra052","Question":"How has NVIDIA's Net Profit Margin changed from 2023 to 2024? ","ground_truth_answer":"Net Profit Margin is calculated using the formula: Net Profit Margin = (Net Income \/ Revenue) * 100.\n\nFor 2024:\nNet Income = $29,760 million\nRevenue = $60,922 million\nNet Profit Margin = ($29,760 \/ $60,922) * 100 = 48.8%\n\nFor 2023:\nNet Income = $4,368 million\nRevenue = $26,974 million\nNet Profit Margin = ($4,368 \/ $26,974) * 100 = 16.2%","question_type":"Ratio","page_number":50,"accession_number":"0001045810-24-000029","item":"Item 15. Exhibit and Financial Statement Schedules","context_markdown_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_markdown_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_html_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_html_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n"} +{"QID":"q_Ra053","Question":"Determine NVIDIA's Gross Profit Margin for 2024 and analyze how it differs from that of 2023.","ground_truth_answer":"Gross Profit Margin is calculated using the formula: Gross Profit Margin = (Gross Profit \/ Revenue) * 100.\n\nFor 2024:\nGross Profit = $44,301 million\nRevenue = $60,922 million\nGross Profit Margin = ($44,301 \/ $60,922) * 100 = 72.7%\n\nFor 2023:\nGross Profit = $15,356 million\nRevenue = $26,974 million\nGross Profit Margin = ($15,356 \/ $26,974) * 100 = 56.9%","question_type":"Ratio","page_number":50,"accession_number":"0001045810-24-000029","item":"Item 15. Exhibit and Financial Statement Schedules","context_markdown_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_markdown_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_html_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_html_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n"} +{"QID":"q_Ra054","Question":"What is the Operating Profit Margin for NVIDIA in 2024, and how does it compare to 2023?","ground_truth_answer":"Operating Profit Margin is calculated using the formula: Operating Profit Margin = (Operating Income \/ Revenue) * 100.\n\nFor 2024:\nOperating Income = $32,972 million\nRevenue = $60,922 million\nOperating Profit Margin = ($32,972 \/ $60,922) * 100 = 54.1%\n\nFor 2023:\nOperating Income = $4,224 million\nRevenue = $26,974 million\nOperating Profit Margin = ($4,224 \/ $26,974) * 100 = 15.7%","question_type":"Ratio","page_number":50,"accession_number":"0001045810-24-000029","item":"Item 15. Exhibit and Financial Statement Schedules","context_markdown_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_markdown_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_html_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_html_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n"} +{"QID":"q_Ra055","Question":"What is the Debt to Equity Ratio for NVIDIA in 2024, and how does it compare to 2023?","ground_truth_answer":"Debt to Equity Ratio is calculated using the formula: Debt to Equity Ratio = Total Debt \/ Shareholders' Equity.\n\nFor 2024:\nTotal Debt = Short-term debt + Long-term debt = $1,250 million + $8,459 million = $9,709 million\nShareholders' Equity = $42,978 million\nDebt to Equity Ratio = $9,709 \/ $42,978 = 0.23\n\nFor 2023:\nTotal Debt = Short-term debt + Long-term debt = $1,250 million + $9,703 million = $10,953 million\nShareholders' Equity = $22,101 million\nDebt to Equity Ratio = $10,953 \/ $22,101 = 0.50","question_type":"Ratio","page_number":52,"accession_number":"0001045810-24-000029","item":"Item 15. Exhibit and Financial Statement Schedules","context_markdown_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_markdown_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n"} +{"QID":"q_Ra056","Question":"How has NVIDIA's Interest Coverage Ratio changed from 2023 to 2024?","ground_truth_answer":"Interest Coverage Ratio is calculated using the formula: Interest Coverage Ratio = EBIT \/ Interest Expenses.\n\nFor 2024:\nEBIT (Operating Income) = $32,972 million\nInterest Expenses = $257 million\nInterest Coverage Ratio = $32,972 \/ $257 = 128.3\n\nFor 2023:\nEBIT (Operating Income) = $4,224 million\nInterest Expenses = $262 million\nInterest Coverage Ratio = $4,224 \/ $262 = 16.1","question_type":"Ratio","page_number":50,"accession_number":"0001045810-24-000029","item":"Item 15. Exhibit and Financial Statement Schedules","context_markdown_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_markdown_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_html_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_html_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n"} +{"QID":"q_Ra057","Question":"Calculate the Financial Leverage Ratio for NVIDIA in 2024 and compare it to 2023","ground_truth_answer":"Financial Leverage Ratio is calculated using the formula: Financial Leverage Ratio = Total Assets \/ Shareholders' Equity.\n\nFor 2024:\nTotal Assets = $65,728 million\nShareholders' Equity = $42,978 million\nFinancial Leverage Ratio = $65,728 \/ $42,978 = 1.53\n\nFor 2023:\nTotal Assets = $41,182 million\nShareholders' Equity = $22,101 million\nFinancial Leverage Ratio = $41,182 \/ $22,101 = 1.86","question_type":"Ratio","page_number":52,"accession_number":"0001045810-24-000029","item":"Item 15. Exhibit and Financial Statement Schedules","context_markdown_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_markdown_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n"} +{"QID":"q_Ra058","Question":"What is the Debt Service Coverage Ratio for NVIDIA in 2024, and how does it compare to 2023?","ground_truth_answer":"Debt Service Coverage Ratio is calculated using the formula: Debt Service Coverage Ratio = Net Operating Income \/ Debt Service.\n\nFor 2024:\nNet Operating Income (Operating Income) = $32,972 million\nDebt Service (Interest Expenses) = $257 million\nDebt Service Coverage Ratio = $32,972 \/ $257 = 128.3\n\nFor 2023:\nNet Operating Income (Operating Income) = $4,224 million\nDebt Service (Interest Expenses) = $262 million\nDebt Service Coverage Ratio = $4,224 \/ $262 = 16.1\n\nAnalysis:\nNVIDIA's Debt Service Coverage Ratio increased significantly from 16.1 in 2023 to 128.3 in 2024. This substantial improvement indicates that the company has become much more capable of covering its debt service obligations with its operating income. The higher ratio reflects improved profitability and financial health, suggesting that NVIDIA is in a strong position to meet its debt service obligations.","question_type":"Ratio","page_number":50,"accession_number":"0001045810-24-000029","item":"Item 15. Exhibit and Financial Statement Schedules","context_markdown_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_markdown_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_html_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n","context_html_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n"} +{"QID":"q_Ra059","Question":"What is the quick ratio of NVIDIA for 2023 and 2022?","ground_truth_answer":"Quick Ratio is calculated using the formula: Quick Ratio = (Current Assets - Inventory) \/ Current Liabilities.\n\nFor 2024:\nCurrent Assets = $44,345 million\nInventory = $5,282 million\nCurrent Liabilities = $10,631 million\nQuick Ratio = ($44,345 - $5,282) \/ $10,631 = 3.67\n\nFor 2023:\nCurrent Assets = $23,073 million\nInventory = $5,159 million\nCurrent Liabilities = $6,563 million\nQuick Ratio = ($23,073 - $5,159) \/ $6,563 = 2.73","question_type":"Ratio","page_number":52,"accession_number":"0001045810-24-000029","item":"Item 15. Exhibit and Financial Statement Schedules","context_markdown_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_markdown_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n"} +{"QID":"q_Ra060","Question":"What is the cash ratio of NVIDIA for FY 2023 and 2022?","ground_truth_answer":"Method 1:\nCash Ratio is calculated using the formula: Cash Ratio = Cash & Cash Equivalents \/ Current Liabilities.\n\nFor 2024:\nCash & Cash Equivalents = $7,280 million\nCurrent Liabilities = $10,631 million\nCash Ratio = $7,280 \/ $10,631 = 0.68\n\nFor 2023:\nCash & Cash Equivalents = $3,389 million\nCurrent Liabilities = $6,563 million\nCash Ratio = $3,389 \/ $6,563 = 0.52\n\nMethod 2: \nFY 2024:\n- Cash and Cash Equivalents: $7,280 million\n- Marketable Securities: $18,704 million\n- Total Current Liabilities: $10,631 million\n\nFY 2023:\n- Cash and Cash Equivalents: $3,389 million\n- Marketable Securities: $9,907 million\n- Total Current Liabilities: $6,563 million\n\nNow, let's calculate the cash ratio for both years:\n\nFor FY 2024:\nCash Ratio = ($7,280 + $18,704) \/ $10,631 = $25,984 \/ $10,631 \u2248 2.44\n\nFor FY 2023:\nCash Ratio = ($3,389 + $9,907) \/ $6,563 = $13,296 \/ $6,563 \u2248 2.03","question_type":"Ratio","page_number":52,"accession_number":"0001045810-24-000029","item":"Item 15. Exhibit and Financial Statement Schedules","context_markdown_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_markdown_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n"} +{"QID":"q_Ra061","Question":"What is the working capital of NVIDIA for 2023 and 2022?","ground_truth_answer":"Working Capital is calculated using the formula: Working Capital = Current Assets - Current Liabilities.\n\nFor 2023:\nCurrent Assets = $44,345 million\nCurrent Liabilities = $10,631 million\nWorking Capital = $44,345 - $10,631 = $33,714 million\n\nFor 2022:\nCurrent Assets = $23,073 million\nCurrent Liabilities = $6,563 million\nWorking Capital = $23,073 - $6,563 = $16,510 million","question_type":"Ratio","page_number":52,"accession_number":"0001045810-24-000029","item":"Item 15. Exhibit and Financial Statement Schedules","context_markdown_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_markdown_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n"} +{"QID":"q_Ra062","Question":"What is the change in NVIDIA's Days Sales Outstanding (DSO) from 2023 to 2024?","ground_truth_answer":"Days Sales Outstanding (DSO) is calculated using the formula: DSO = (Accounts Receivable \/ Total Credit Sales) * Number of Days.\n\nFor 2024:\nAccounts Receivable = $9,999 million\nTotal Credit Sales (Revenue) = $60,922 million\nNumber of Days = 365\nDSO = ($9,999 \/ $60,922) * 365 = 59.9 days\n\nFor 2023:\nAccounts Receivable = $3,827 million\nTotal Credit Sales (Revenue) = $26,974 million\nNumber of Days = 365\nDSO = ($3,827 \/ $26,974) * 365 = 51.8 days","question_type":"Ratio","page_number":"50, 52","accession_number":"0001045810-24-000029","item":"Item 15. Exhibit and Financial Statement Schedules","context_markdown_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n, NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_markdown_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n, \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n, NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n, \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n"} +{"QID":"q_Ra063","Question":"What is the Inventory Turnover Ratio for NVIDIA in 2024, and how does it compare to 2023?","ground_truth_answer":"Inventory Turnover Ratio is calculated using the formula: Inventory Turnover = Cost of Goods Sold \/ Average Inventory.\n\nFor 2024:\nCost of Goods Sold = $16,621 million\nAverage Inventory = ($5,282 million + $5,159 million) \/ 2 = $5,220.5 million\nInventory Turnover = $16,621 \/ $5,220.5 = 3.18\n\nFor 2023:\nCost of Goods Sold = $11,618 million\nAverage Inventory = ($5,159 million + $5,282 million) \/ 2 = $5,220.5 million\nInventory Turnover = $11,618 \/ $5,220.5 = 2.23\n\nAnalysis:\nNVIDIA's Inventory Turnover Ratio increased from 2.23 in 2023 to 3.18 in 2024. This improvement indicates that the company has become more efficient in managing its inventory, selling and replacing it more frequently. The higher ratio suggests better inventory management and operational efficiency, reflecting positively on the company's financial health.","question_type":"Ratio","page_number":"50,52","accession_number":"0001045810-24-000029","item":"Item 15. Exhibit and Financial Statement Schedules","context_markdown_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n, NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_markdown_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)| | | | | | | | | | | |\n|---:|:-------------------------------------------------------|:-------------|:-------|:-------------|:-------|:-------------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended | | | | | | | | |\n| 2 | | Jan 28, 2024 | | Jan 29, 2023 | | Jan 30, 2022 | | | | |\n| 3 | Revenue | $ | 60,922 | | | $ | 26,974 | | $ | 26,914 |\n| 4 | Cost of revenue | 16,621 | | | 11,618 | | | 9,439 | | |\n| 5 | Gross profit | 44,301 | | | 15,356 | | | 17,475 | | |\n| 6 | Operating expenses | | | | | | | | | |\n| 7 | Research and development | 8,675 | | | 7,339 | | | 5,268 | | |\n| 8 | Sales, general and administrative | 2,654 | | | 2,440 | | | 2,166 | | |\n| 9 | Acquisition termination cost | - | | | 1,353 | | | - | | |\n| 10 | Total operating expenses | 11,329 | | | 11,132 | | | 7,434 | | |\n| 11 | Operating income | 32,972 | | | 4,224 | | | 10,041 | | |\n| 12 | Interest income | 866 | | | 267 | | | 29 | | |\n| 13 | Interest expense | (257) | | | (262) | | | (236) | | |\n| 14 | Other, net | 237 | | | (48) | | | 107 | | |\n| 15 | Other income (expense), net | 846 | | | (43) | | | (100) | | |\n| 16 | Income before income tax | 33,818 | | | 4,181 | | | 9,941 | | |\n| 17 | Income tax expense (benefit) | 4,058 | | | (187) | | | 189 | | |\n| 18 | Net income | $ | 29,760 | | | $ | 4,368 | | $ | 9,752 |\n| 20 | Net income per share: | | | | | | | | | |\n| 21 | Basic | $ | 12.05 | | | $ | 1.76 | | $ | 3.91 |\n| 22 | Diluted | $ | 11.93 | | | $ | 1.74 | | $ | 3.85 |\n| 24 | Weighted average shares used in per share computation: | | | | | | | | | |\n| 25 | Basic | 2,469 | | | 2,487 | | | 2,496 | | |\n| 26 | Diluted | 2,494 | | | 2,507 | | | 2,535 | | |\nSee accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n, \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)| | | | | | | | |\n|---:|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:-------|:-------------|:-------|:---|:-------|\n| 1 | | Jan 28, 2024 | | Jan 29, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 7,280 | | | $ | 3,389 |\n| 5 | Marketable securities | 18,704 | | | 9,907 | | |\n| 6 | Accounts receivable, net | 9,999 | | | 3,827 | | |\n| 7 | Inventories | 5,282 | | | 5,159 | | |\n| 8 | Prepaid expenses and other current assets | 3,080 | | | 791 | | |\n| 9 | Total current assets | 44,345 | | | 23,073 | | |\n| 10 | Property and equipment, net | 3,914 | | | 3,807 | | |\n| 11 | Operating lease assets | 1,346 | | | 1,038 | | |\n| 12 | Goodwill | 4,430 | | | 4,372 | | |\n| 13 | Intangible assets, net | 1,112 | | | 1,676 | | |\n| 14 | Deferred income tax assets | 6,081 | | | 3,396 | | |\n| 15 | Other assets | 4,500 | | | 3,820 | | |\n| 16 | Total assets | $ | 65,728 | | | $ | 41,182 |\n| 18 | Liabilities and Shareholders' Equity | | | | | | |\n| 19 | Current liabilities: | | | | | | |\n| 20 | Accounts payable | $ | 2,699 | | | $ | 1,193 |\n| 21 | Accrued and other current liabilities | 6,682 | | | 4,120 | | |\n| 22 | Short-term debt | 1,250 | | | 1,250 | | |\n| 23 | Total current liabilities | 10,631 | | | 6,563 | | |\n| 24 | Long-term debt | 8,459 | | | 9,703 | | |\n| 25 | Long-term operating lease liabilities | 1,119 | | | 902 | | |\n| 26 | Other long-term liabilities | 2,541 | | | 1,913 | | |\n| 27 | Total liabilities | 22,750 | | | 19,081 | | |\n| 28 | Commitments and contingencies - see Note 13 | | | | | | |\n| 30 | Shareholders' equity: | | | | | | |\n| 31 | Preferred stock, $0.001 par value; 2 shares authorized; none issued | - | | | - | | |\n| 32 | Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023 | 2 | | | 2 | | |\n| 33 | Additional paid-in capital | 13,132 | | | 11,971 | | |\n| 35 | Accumulated other comprehensive income (loss) | 27 | | | (43) | | |\n| 36 | Retained earnings | 29,817 | | | 10,171 | | |\n| 37 | Total shareholders' equity | 42,978 | | | 22,101 | | |\n| 38 | Total liabilities and shareholders' equity | $ | 65,728 | | | $ | 41,182 |\nSee accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_with_headers":"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 50: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n, NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n","context_html_without_headers":"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Statements of Income\n\n(In millions, except per share data)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended<\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/td>Jan 30, 2022<\/td><\/tr>
Revenue<\/td>$<\/td>60,922 <\/td><\/td><\/td>$<\/td>26,974 <\/td><\/td><\/td>$<\/td>26,914 <\/td><\/td><\/tr>
Cost of revenue<\/td>16,621 <\/td><\/td><\/td>11,618 <\/td><\/td><\/td>9,439 <\/td><\/td><\/tr>
Gross profit<\/td>44,301 <\/td><\/td><\/td>15,356 <\/td><\/td><\/td>17,475 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td> <\/td><\/tr>
Research and development<\/td>8,675 <\/td><\/td><\/td>7,339 <\/td><\/td><\/td>5,268 <\/td><\/td><\/tr>
Sales, general and administrative<\/td>2,654 <\/td><\/td><\/td>2,440 <\/td><\/td><\/td>2,166 <\/td><\/td><\/tr>
Acquisition termination cost<\/td>- <\/td><\/td><\/td>1,353 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Total operating expenses<\/td>11,329 <\/td><\/td><\/td>11,132 <\/td><\/td><\/td>7,434 <\/td><\/td><\/tr>
Operating income<\/td>32,972 <\/td><\/td><\/td>4,224 <\/td><\/td><\/td>10,041 <\/td><\/td><\/tr>
Interest income<\/td>866 <\/td><\/td><\/td>267 <\/td><\/td><\/td>29 <\/td><\/td><\/tr>
Interest expense<\/td>(257)<\/td><\/td><\/td>(262)<\/td><\/td><\/td>(236)<\/td><\/td><\/tr>
Other, net<\/td>237 <\/td><\/td><\/td>(48)<\/td><\/td><\/td>107 <\/td><\/td><\/tr>
Other income (expense), net<\/td>846 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>(100)<\/td><\/td><\/tr>
Income before income tax<\/td>33,818 <\/td><\/td><\/td>4,181 <\/td><\/td><\/td>9,941 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td>4,058 <\/td><\/td><\/td>(187)<\/td><\/td><\/td>189 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>29,760 <\/td><\/td><\/td>$<\/td>4,368 <\/td><\/td><\/td>$<\/td>9,752 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>12.05 <\/td><\/td><\/td>$<\/td>1.76 <\/td><\/td><\/td>$<\/td>3.91 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.93 <\/td><\/td><\/td>$<\/td>1.74 <\/td><\/td><\/td>$<\/td>3.85 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted average shares used in per share computation:<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>2,469 <\/td><\/td><\/td>2,487 <\/td><\/td><\/td>2,496 <\/td><\/td><\/tr>
Diluted<\/td>2,494 <\/td><\/td><\/td>2,507 <\/td><\/td><\/td>2,535 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n50\n\n\n\n\n, \nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par value)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Jan 28, 2024<\/td><\/td>Jan 29, 2023<\/td><\/tr>
Assets<\/td> <\/td><\/td> <\/td><\/tr>
Current assets:<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>7,280 <\/td><\/td><\/td>$<\/td>3,389 <\/td><\/td><\/tr>
Marketable securities<\/td>18,704 <\/td><\/td><\/td>9,907 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>9,999 <\/td><\/td><\/td>3,827 <\/td><\/td><\/tr>
Inventories<\/td>5,282 <\/td><\/td><\/td>5,159 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,080 <\/td><\/td><\/td>791 <\/td><\/td><\/tr>
Total current assets<\/td>44,345 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
Property and equipment, net<\/td>3,914 <\/td><\/td><\/td>3,807 <\/td><\/td><\/tr>
Operating lease assets<\/td>1,346 <\/td><\/td><\/td>1,038 <\/td><\/td><\/tr>
Goodwill<\/td>4,430 <\/td><\/td><\/td>4,372 <\/td><\/td><\/tr>
Intangible assets, net<\/td>1,112 <\/td><\/td><\/td>1,676 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>6,081 <\/td><\/td><\/td>3,396 <\/td><\/td><\/tr>
Other assets<\/td>4,500 <\/td><\/td><\/td>3,820 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Current liabilities:<\/td> <\/td><\/td> <\/td><\/tr>
Accounts payable<\/td>$<\/td>2,699 <\/td><\/td><\/td>$<\/td>1,193 <\/td><\/td><\/tr>
Accrued and other current liabilities<\/td>6,682 <\/td><\/td><\/td>4,120 <\/td><\/td><\/tr>
Short-term debt<\/td>1,250 <\/td><\/td><\/td>1,250 <\/td><\/td><\/tr>
Total current liabilities<\/td>10,631 <\/td><\/td><\/td>6,563 <\/td><\/td><\/tr>
Long-term debt<\/td>8,459 <\/td><\/td><\/td>9,703 <\/td><\/td><\/tr>
Long-term operating lease liabilities <\/td>1,119 <\/td><\/td><\/td>902 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>2,541 <\/td><\/td><\/td>1,913 <\/td><\/td><\/tr>
Total liabilities<\/td>22,750 <\/td><\/td><\/td>19,081 <\/td><\/td><\/tr>
Commitments and contingencies - see Note 13<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td><\/td> <\/td><\/tr>
Preferred stock, $0.001 par value; 2 shares authorized; none issued<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock, $0.001 par value; 8,000 shares authorized; 2,464 shares issued and outstanding as of January 28, 2024; 2,466 shares issued and outstanding as of January 29, 2023<\/td>2 <\/td><\/td><\/td>2 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>13,132 <\/td><\/td><\/td>11,971 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>27 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Retained earnings<\/td>29,817 <\/td><\/td><\/td>10,171 <\/td><\/td><\/tr>
Total shareholders' equity<\/td>42,978 <\/td><\/td><\/td>22,101 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>65,728 <\/td><\/td><\/td>$<\/td>41,182 <\/td><\/td><\/tr><\/table>See accompanying notes to the consolidated financial statements.\n52\n\n\n\n\n"} +{"QID":"q_Ra064","Question":"What is the EBITDA Margin for Halliburton in 2023, and how does it compare to 2022?","ground_truth_answer":"EBITDA Margin is calculated as (EBITDA \/ Revenue) * 100. EBITDA is derived from Operating Income plus Depreciation, Depletion, and Amortization. For Halliburton in 2023, the operating income is $4,083 million, and the depreciation, depletion, and amortization is $998 million. Therefore, the EBITDA is $4,083 + $998 = $5,081 million. The total revenue is $23,018 million. The EBITDA Margin for 2023 is (5,081 \/ 23,018) * 100 = 22.07%. In 2022, the operating income was $2,707 million, and the depreciation, depletion, and amortization was $940 million. Therefore, the EBITDA was $2,707 + $940 = $3,647 million. The total revenue was $20,297 million. The EBITDA Margin for 2022 is (3,647 \/ 20,297) * 100 = 17.97%. Comparing the two years, Halliburton's EBITDA Margin increased from 17.97% in 2022 to 22.07% in 2023, indicating improved operational profitability before accounting for non-cash expenses.","question_type":"Ratio","page_number":"43,46","accession_number":"0000045012-24-000007","item":"Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 43: \n\n| | | | | | | | | |\n|---:|:-------------------------------------------------------------|:----------------------------------------------------------|:-----------------------|:-------|:---|:-------|:---|:-------|\n| 1 | | HALLIBURTON COMPANY Consolidated Statements of Operations | | | | | | |\n| 2 | | | Year Ended December 31 | | | | | |\n| 3 | Millions of dollars and shares except per share data | 2023 | 2022 | 2021 | | | | |\n| 4 | Revenue: | | | | | | | |\n| 5 | Services | $ | 16,483 | | $ | 14,749 | $ | 10,989 |\n| 6 | Product sales | 6,535 | | 5,548 | | 4,306 | | |\n| 7 | Total revenue | 23,018 | | 20,297 | | 15,295 | | |\n| 8 | Operating costs and expenses: | | | | | | | |\n| 9 | Cost of services | 13,402 | | 12,381 | | 9,745 | | |\n| 10 | Cost of sales | 5,256 | | 4,603 | | 3,534 | | |\n| 12 | General and administrative | 226 | | 240 | | 204 | | |\n| 13 | SAP S4 upgrade expense | 51 | | - | | - | | |\n| 14 | Impairments and other charges | - | | 366 | | 12 | | |\n| 16 | Total operating costs and expenses | 18,935 | | 17,590 | | 13,495 | | |\n| 17 | Operating income | 4,083 | | 2,707 | | 1,800 | | |\n| 18 | Interest expense, net of interest income of $81, $29, and $9 | (395) | | (463) | | (520) | | |\n| 19 | Loss on Blue Chip Swap transactions | (110) | | - | | - | | |\n| 20 | Argentina currency impact | (131) | | (30) | | 6 | | |\n| 21 | Loss on early extinguishment of debt | - | | (42) | | - | | |\n| 22 | Other, net | (84) | | (62) | | (34) | | |\n| 23 | Income before income taxes | 3,363 | | 2,110 | | 1,252 | | |\n| 24 | Income tax benefit (provision) | (701) | | (515) | | 216 | | |\n| 27 | Net income | $ | 2,662 | | $ | 1,595 | $ | 1,468 |\n| 28 | Net income attributable to noncontrolling interest | (24) | | (23) | | (11) | | |\n| 29 | Net income attributable to company | $ | 2,638 | | $ | 1,572 | $ | 1,457 |\n| 40 | Basic net income per share | $ | 2.93 | | $ | 1.74 | $ | 1.63 |\n| 41 | Diluted net income per share | $ | 2.92 | | $ | 1.73 | $ | 1.63 |\n| 46 | Basic weighted average common shares outstanding | 899 | | 904 | | 892 | | |\n| 47 | Diluted weighted average common shares outstanding | 902 | | 908 | | 892 | | |\n| 48 | | See notes to consolidated financial statements. | | | | | | |\n\nHAL 2023 FORM 10-K | 43\n\n\n\n\n\n, HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 46: \n\n| | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------|:----------------------------------------------------------|:-----------------------|:--------|:---|:------|:---|:------|\n| 1 | | HALLIBURTON COMPANY Consolidated Statements of Cash Flows | | | | | | |\n| 2 | | | Year Ended December 31 | | | | | |\n| 3 | Millions of dollars | 2023 | 2022 | 2021 | | | | |\n| 4 | Cash flows from operating activities: | | | | | | | |\n| 5 | Net income | $ | 2,662 | | $ | 1,595 | $ | 1,468 |\n| 6 | Adjustments to reconcile net income to cash flows from operating activities: | | | | | | | |\n| 7 | Depreciation, depletion, and amortization | 998 | | 940 | | 904 | | |\n| 8 | Deferred income tax provision (benefit) | 196 | | 70 | | (486) | | |\n| 9 | Impairments and other charges | - | | 366 | | 12 | | |\n| 11 | Changes in assets and liabilities: | | | | | | | |\n| 12 | Inventories | (303) | | (642) | | (10) | | |\n| 13 | Receivables | (257) | | (1,151) | | (500) | | |\n| 14 | Accounts payable | 49 | | 852 | | 795 | | |\n| 15 | Other operating activities | 113 | | 212 | | (272) | | |\n| 16 | Total cash flows provided by operating activities | 3,458 | | 2,242 | | 1,911 | | |\n| 17 | Cash flows from investing activities: | | | | | | | |\n| 18 | Capital expenditures | (1,379) | | (1,011) | | (799) | | |\n| 19 | Purchases of investment securities | (492) | | (75) | | (5) | | |\n| 20 | Proceeds from sales of property, plant, and equipment | 195 | | 200 | | 257 | | |\n| 21 | Sales of investment securities | 131 | | - | | - | | |\n| 22 | Proceeds from a structured real estate transaction | - | | - | | 87 | | |\n| 24 | Other investing activities | (114) | | (81) | | (74) | | |\n| 25 | Total cash flows used in investing activities | (1,659) | | (967) | | (534) | | |\n| 26 | Cash flows from financing activities: | | | | | | | |\n| 27 | Stock repurchase program | (800) | | (250) | | - | | |\n| 28 | Dividends to shareholders | (576) | | (435) | | (161) | | |\n| 29 | Payments on long-term borrowings | (305) | | (1,242) | | (700) | | |\n| 30 | Proceeds from issuance of common stock | 136 | | 229 | | 79 | | |\n| 32 | Other financing activities | (126) | | (100) | | (56) | | |\n| 33 | Total cash flows used in financing activities | (1,671) | | (1,798) | | (838) | | |\n| 34 | Effect of exchange rate changes on cash | (210) | | (175) | | (58) | | |\n| 35 | Increase \/ (decrease) in cash and equivalents | (82) | | (698) | | 481 | | |\n| 36 | Cash and equivalents at beginning of year | 2,346 | | 3,044 | | 2,563 | | |\n| 37 | Cash and equivalents at end of year | $ | 2,264 | | $ | 2,346 | $ | 3,044 |\n| 38 | Supplemental disclosure of cash flow information: | | | | | | | |\n| 39 | Cash payments during the period for: | | | | | | | |\n| 40 | Interest | $ | 460 | | $ | 487 | $ | 517 |\n| 41 | Income taxes | $ | 616 | | $ | 354 | $ | 214 |\n| 42 | | See notes to consolidated financial statements. | | | | | | |\n\nHAL 2023 FORM 10-K | 46\n\n\n\n\n\n","context_markdown_without_headers":"\n\n| | | | | | | | | |\n|---:|:-------------------------------------------------------------|:----------------------------------------------------------|:-----------------------|:-------|:---|:-------|:---|:-------|\n| 1 | | HALLIBURTON COMPANY Consolidated Statements of Operations | | | | | | |\n| 2 | | | Year Ended December 31 | | | | | |\n| 3 | Millions of dollars and shares except per share data | 2023 | 2022 | 2021 | | | | |\n| 4 | Revenue: | | | | | | | |\n| 5 | Services | $ | 16,483 | | $ | 14,749 | $ | 10,989 |\n| 6 | Product sales | 6,535 | | 5,548 | | 4,306 | | |\n| 7 | Total revenue | 23,018 | | 20,297 | | 15,295 | | |\n| 8 | Operating costs and expenses: | | | | | | | |\n| 9 | Cost of services | 13,402 | | 12,381 | | 9,745 | | |\n| 10 | Cost of sales | 5,256 | | 4,603 | | 3,534 | | |\n| 12 | General and administrative | 226 | | 240 | | 204 | | |\n| 13 | SAP S4 upgrade expense | 51 | | - | | - | | |\n| 14 | Impairments and other charges | - | | 366 | | 12 | | |\n| 16 | Total operating costs and expenses | 18,935 | | 17,590 | | 13,495 | | |\n| 17 | Operating income | 4,083 | | 2,707 | | 1,800 | | |\n| 18 | Interest expense, net of interest income of $81, $29, and $9 | (395) | | (463) | | (520) | | |\n| 19 | Loss on Blue Chip Swap transactions | (110) | | - | | - | | |\n| 20 | Argentina currency impact | (131) | | (30) | | 6 | | |\n| 21 | Loss on early extinguishment of debt | - | | (42) | | - | | |\n| 22 | Other, net | (84) | | (62) | | (34) | | |\n| 23 | Income before income taxes | 3,363 | | 2,110 | | 1,252 | | |\n| 24 | Income tax benefit (provision) | (701) | | (515) | | 216 | | |\n| 27 | Net income | $ | 2,662 | | $ | 1,595 | $ | 1,468 |\n| 28 | Net income attributable to noncontrolling interest | (24) | | (23) | | (11) | | |\n| 29 | Net income attributable to company | $ | 2,638 | | $ | 1,572 | $ | 1,457 |\n| 40 | Basic net income per share | $ | 2.93 | | $ | 1.74 | $ | 1.63 |\n| 41 | Diluted net income per share | $ | 2.92 | | $ | 1.73 | $ | 1.63 |\n| 46 | Basic weighted average common shares outstanding | 899 | | 904 | | 892 | | |\n| 47 | Diluted weighted average common shares outstanding | 902 | | 908 | | 892 | | |\n| 48 | | See notes to consolidated financial statements. | | | | | | |\n\nHAL 2023 FORM 10-K | 43\n\n\n\n\n\n, \n\n| | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------|:----------------------------------------------------------|:-----------------------|:--------|:---|:------|:---|:------|\n| 1 | | HALLIBURTON COMPANY Consolidated Statements of Cash Flows | | | | | | |\n| 2 | | | Year Ended December 31 | | | | | |\n| 3 | Millions of dollars | 2023 | 2022 | 2021 | | | | |\n| 4 | Cash flows from operating activities: | | | | | | | |\n| 5 | Net income | $ | 2,662 | | $ | 1,595 | $ | 1,468 |\n| 6 | Adjustments to reconcile net income to cash flows from operating activities: | | | | | | | |\n| 7 | Depreciation, depletion, and amortization | 998 | | 940 | | 904 | | |\n| 8 | Deferred income tax provision (benefit) | 196 | | 70 | | (486) | | |\n| 9 | Impairments and other charges | - | | 366 | | 12 | | |\n| 11 | Changes in assets and liabilities: | | | | | | | |\n| 12 | Inventories | (303) | | (642) | | (10) | | |\n| 13 | Receivables | (257) | | (1,151) | | (500) | | |\n| 14 | Accounts payable | 49 | | 852 | | 795 | | |\n| 15 | Other operating activities | 113 | | 212 | | (272) | | |\n| 16 | Total cash flows provided by operating activities | 3,458 | | 2,242 | | 1,911 | | |\n| 17 | Cash flows from investing activities: | | | | | | | |\n| 18 | Capital expenditures | (1,379) | | (1,011) | | (799) | | |\n| 19 | Purchases of investment securities | (492) | | (75) | | (5) | | |\n| 20 | Proceeds from sales of property, plant, and equipment | 195 | | 200 | | 257 | | |\n| 21 | Sales of investment securities | 131 | | - | | - | | |\n| 22 | Proceeds from a structured real estate transaction | - | | - | | 87 | | |\n| 24 | Other investing activities | (114) | | (81) | | (74) | | |\n| 25 | Total cash flows used in investing activities | (1,659) | | (967) | | (534) | | |\n| 26 | Cash flows from financing activities: | | | | | | | |\n| 27 | Stock repurchase program | (800) | | (250) | | - | | |\n| 28 | Dividends to shareholders | (576) | | (435) | | (161) | | |\n| 29 | Payments on long-term borrowings | (305) | | (1,242) | | (700) | | |\n| 30 | Proceeds from issuance of common stock | 136 | | 229 | | 79 | | |\n| 32 | Other financing activities | (126) | | (100) | | (56) | | |\n| 33 | Total cash flows used in financing activities | (1,671) | | (1,798) | | (838) | | |\n| 34 | Effect of exchange rate changes on cash | (210) | | (175) | | (58) | | |\n| 35 | Increase \/ (decrease) in cash and equivalents | (82) | | (698) | | 481 | | |\n| 36 | Cash and equivalents at beginning of year | 2,346 | | 3,044 | | 2,563 | | |\n| 37 | Cash and equivalents at end of year | $ | 2,264 | | $ | 2,346 | $ | 3,044 |\n| 38 | Supplemental disclosure of cash flow information: | | | | | | | |\n| 39 | Cash payments during the period for: | | | | | | | |\n| 40 | Interest | $ | 460 | | $ | 487 | $ | 517 |\n| 41 | Income taxes | $ | 616 | | $ | 354 | $ | 214 |\n| 42 | | See notes to consolidated financial statements. | | | | | | |\n\nHAL 2023 FORM 10-K | 46\n\n\n\n\n\n","context_html_with_headers":"HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 43: \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>HALLIBURTON COMPANY Consolidated Statements of Operations<\/td><\/tr>
<\/td><\/td>Year Ended December 31<\/td><\/tr>
Millions of dollars and shares except per share data<\/td>2023<\/td>2022<\/td>2021<\/td><\/tr>
Revenue:<\/td><\/td><\/td><\/td><\/tr>
Services<\/td>$<\/td>16,483 <\/td><\/td>$<\/td>14,749 <\/td><\/td>$<\/td>10,989 <\/td><\/td><\/tr>
Product sales<\/td>6,535 <\/td><\/td>5,548 <\/td><\/td>4,306 <\/td><\/td><\/tr>
Total revenue<\/td>23,018 <\/td><\/td>20,297 <\/td><\/td>15,295 <\/td><\/td><\/tr>
Operating costs and expenses:<\/td><\/td><\/td><\/td><\/tr>
Cost of services<\/td>13,402 <\/td><\/td>12,381 <\/td><\/td>9,745 <\/td><\/td><\/tr>
Cost of sales<\/td>5,256 <\/td><\/td>4,603 <\/td><\/td>3,534 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
General and administrative<\/td>226 <\/td><\/td>240 <\/td><\/td>204 <\/td><\/td><\/tr>
SAP S4 upgrade expense<\/td>51 <\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Impairments and other charges<\/td>- <\/td><\/td>366 <\/td><\/td>12 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating costs and expenses<\/td>18,935 <\/td><\/td>17,590 <\/td><\/td>13,495 <\/td><\/td><\/tr>
Operating income<\/td>4,083 <\/td><\/td>2,707 <\/td><\/td>1,800 <\/td><\/td><\/tr>
Interest expense, net of interest income of $81, $29, and $9<\/td>(395)<\/td><\/td>(463)<\/td><\/td>(520)<\/td><\/td><\/tr>
Loss on Blue Chip Swap transactions<\/td>(110)<\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Argentina currency impact<\/td>(131)<\/td><\/td>(30)<\/td><\/td>6 <\/td><\/td><\/tr>
Loss on early extinguishment of debt<\/td>- <\/td><\/td>(42)<\/td><\/td>- <\/td><\/td><\/tr>
Other, net<\/td>(84)<\/td><\/td>(62)<\/td><\/td>(34)<\/td><\/td><\/tr>
Income before income taxes<\/td>3,363 <\/td><\/td>2,110 <\/td><\/td>1,252 <\/td><\/td><\/tr>
Income tax benefit (provision)<\/td>(701)<\/td><\/td>(515)<\/td><\/td>216 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,662 <\/td><\/td>$<\/td>1,595 <\/td><\/td>$<\/td>1,468 <\/td><\/td><\/tr>
Net income attributable to noncontrolling interest <\/td>(24)<\/td><\/td>(23)<\/td><\/td>(11)<\/td><\/td><\/tr>
Net income attributable to company<\/td>$<\/td>2,638 <\/td><\/td>$<\/td>1,572 <\/td><\/td>$<\/td>1,457 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Basic net income per share<\/td>$<\/td>2.93 <\/td><\/td>$<\/td>1.74 <\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Diluted net income per share<\/td>$<\/td>2.92 <\/td><\/td>$<\/td>1.73 <\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Basic weighted average common shares outstanding<\/td>899 <\/td><\/td>904 <\/td><\/td>892 <\/td><\/td><\/tr>
Diluted weighted average common shares outstanding<\/td>902 <\/td><\/td>908 <\/td><\/td>892 <\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 43\n\n\n\n\n\n, HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 46: \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>HALLIBURTON COMPANY Consolidated Statements of Cash Flows<\/td><\/tr>
<\/td><\/td>Year Ended December 31<\/td><\/tr>
Millions of dollars<\/td>2023<\/td>2022<\/td>2021<\/td><\/tr>
Cash flows from operating activities:<\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,662 <\/td><\/td>$<\/td>1,595 <\/td><\/td>$<\/td>1,468 <\/td><\/td><\/tr>
Adjustments to reconcile net income to cash flows from operating activities:<\/td><\/td><\/td><\/td><\/tr>
Depreciation, depletion, and amortization<\/td>998 <\/td><\/td>940 <\/td><\/td>904 <\/td><\/td><\/tr>
Deferred income tax provision (benefit)<\/td>196 <\/td><\/td>70 <\/td><\/td>(486)<\/td><\/td><\/tr>
Impairments and other charges<\/td>- <\/td><\/td>366 <\/td><\/td>12 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Changes in assets and liabilities:<\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td>(303)<\/td><\/td>(642)<\/td><\/td>(10)<\/td><\/td><\/tr>
Receivables<\/td>(257)<\/td><\/td>(1,151)<\/td><\/td>(500)<\/td><\/td><\/tr>
Accounts payable<\/td>49 <\/td><\/td>852 <\/td><\/td>795 <\/td><\/td><\/tr>
Other operating activities<\/td>113 <\/td><\/td>212 <\/td><\/td>(272)<\/td><\/td><\/tr>
Total cash flows provided by operating activities<\/td>3,458 <\/td><\/td>2,242 <\/td><\/td>1,911 <\/td><\/td><\/tr>
Cash flows from investing activities:<\/td><\/td><\/td><\/td><\/tr>
Capital expenditures<\/td>(1,379)<\/td><\/td>(1,011)<\/td><\/td>(799)<\/td><\/td><\/tr>
Purchases of investment securities<\/td>(492)<\/td><\/td>(75)<\/td><\/td>(5)<\/td><\/td><\/tr>
Proceeds from sales of property, plant, and equipment<\/td>195 <\/td><\/td>200 <\/td><\/td>257 <\/td><\/td><\/tr>
Sales of investment securities<\/td>131 <\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Proceeds from a structured real estate transaction<\/td>- <\/td><\/td>- <\/td><\/td>87 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other investing activities<\/td>(114)<\/td><\/td>(81)<\/td><\/td>(74)<\/td><\/td><\/tr>
Total cash flows used in investing activities<\/td>(1,659)<\/td><\/td>(967)<\/td><\/td>(534)<\/td><\/td><\/tr>
Cash flows from financing activities:<\/td><\/td><\/td><\/td><\/tr>
Stock repurchase program<\/td>(800)<\/td><\/td>(250)<\/td><\/td>- <\/td><\/td><\/tr>
Dividends to shareholders<\/td>(576)<\/td><\/td>(435)<\/td><\/td>(161)<\/td><\/td><\/tr>
Payments on long-term borrowings<\/td>(305)<\/td><\/td>(1,242)<\/td><\/td>(700)<\/td><\/td><\/tr>
Proceeds from issuance of common stock<\/td>136 <\/td><\/td>229 <\/td><\/td>79 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other financing activities<\/td>(126)<\/td><\/td>(100)<\/td><\/td>(56)<\/td><\/td><\/tr>
Total cash flows used in financing activities<\/td>(1,671)<\/td><\/td>(1,798)<\/td><\/td>(838)<\/td><\/td><\/tr>
Effect of exchange rate changes on cash<\/td>(210)<\/td><\/td>(175)<\/td><\/td>(58)<\/td><\/td><\/tr>
Increase \/ (decrease) in cash and equivalents<\/td>(82)<\/td><\/td>(698)<\/td><\/td>481 <\/td><\/td><\/tr>
Cash and equivalents at beginning of year<\/td>2,346 <\/td><\/td>3,044 <\/td><\/td>2,563 <\/td><\/td><\/tr>
Cash and equivalents at end of year<\/td>$<\/td>2,264 <\/td><\/td>$<\/td>2,346 <\/td><\/td>$<\/td>3,044 <\/td><\/td><\/tr>
Supplemental disclosure of cash flow information:<\/td><\/td><\/td><\/td><\/tr>
Cash payments during the period for:<\/td><\/td><\/td><\/td><\/tr>
Interest<\/td>$<\/td>460 <\/td><\/td>$<\/td>487 <\/td><\/td>$<\/td>517 <\/td><\/td><\/tr>
Income taxes<\/td>$<\/td>616 <\/td><\/td>$<\/td>354 <\/td><\/td>$<\/td>214 <\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 46\n\n\n\n\n\n","context_html_without_headers":"\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>HALLIBURTON COMPANY Consolidated Statements of Operations<\/td><\/tr>
<\/td><\/td>Year Ended December 31<\/td><\/tr>
Millions of dollars and shares except per share data<\/td>2023<\/td>2022<\/td>2021<\/td><\/tr>
Revenue:<\/td><\/td><\/td><\/td><\/tr>
Services<\/td>$<\/td>16,483 <\/td><\/td>$<\/td>14,749 <\/td><\/td>$<\/td>10,989 <\/td><\/td><\/tr>
Product sales<\/td>6,535 <\/td><\/td>5,548 <\/td><\/td>4,306 <\/td><\/td><\/tr>
Total revenue<\/td>23,018 <\/td><\/td>20,297 <\/td><\/td>15,295 <\/td><\/td><\/tr>
Operating costs and expenses:<\/td><\/td><\/td><\/td><\/tr>
Cost of services<\/td>13,402 <\/td><\/td>12,381 <\/td><\/td>9,745 <\/td><\/td><\/tr>
Cost of sales<\/td>5,256 <\/td><\/td>4,603 <\/td><\/td>3,534 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
General and administrative<\/td>226 <\/td><\/td>240 <\/td><\/td>204 <\/td><\/td><\/tr>
SAP S4 upgrade expense<\/td>51 <\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Impairments and other charges<\/td>- <\/td><\/td>366 <\/td><\/td>12 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating costs and expenses<\/td>18,935 <\/td><\/td>17,590 <\/td><\/td>13,495 <\/td><\/td><\/tr>
Operating income<\/td>4,083 <\/td><\/td>2,707 <\/td><\/td>1,800 <\/td><\/td><\/tr>
Interest expense, net of interest income of $81, $29, and $9<\/td>(395)<\/td><\/td>(463)<\/td><\/td>(520)<\/td><\/td><\/tr>
Loss on Blue Chip Swap transactions<\/td>(110)<\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Argentina currency impact<\/td>(131)<\/td><\/td>(30)<\/td><\/td>6 <\/td><\/td><\/tr>
Loss on early extinguishment of debt<\/td>- <\/td><\/td>(42)<\/td><\/td>- <\/td><\/td><\/tr>
Other, net<\/td>(84)<\/td><\/td>(62)<\/td><\/td>(34)<\/td><\/td><\/tr>
Income before income taxes<\/td>3,363 <\/td><\/td>2,110 <\/td><\/td>1,252 <\/td><\/td><\/tr>
Income tax benefit (provision)<\/td>(701)<\/td><\/td>(515)<\/td><\/td>216 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,662 <\/td><\/td>$<\/td>1,595 <\/td><\/td>$<\/td>1,468 <\/td><\/td><\/tr>
Net income attributable to noncontrolling interest <\/td>(24)<\/td><\/td>(23)<\/td><\/td>(11)<\/td><\/td><\/tr>
Net income attributable to company<\/td>$<\/td>2,638 <\/td><\/td>$<\/td>1,572 <\/td><\/td>$<\/td>1,457 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Basic net income per share<\/td>$<\/td>2.93 <\/td><\/td>$<\/td>1.74 <\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Diluted net income per share<\/td>$<\/td>2.92 <\/td><\/td>$<\/td>1.73 <\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Basic weighted average common shares outstanding<\/td>899 <\/td><\/td>904 <\/td><\/td>892 <\/td><\/td><\/tr>
Diluted weighted average common shares outstanding<\/td>902 <\/td><\/td>908 <\/td><\/td>892 <\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 43\n\n\n\n\n\n, \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>HALLIBURTON COMPANY Consolidated Statements of Cash Flows<\/td><\/tr>
<\/td><\/td>Year Ended December 31<\/td><\/tr>
Millions of dollars<\/td>2023<\/td>2022<\/td>2021<\/td><\/tr>
Cash flows from operating activities:<\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,662 <\/td><\/td>$<\/td>1,595 <\/td><\/td>$<\/td>1,468 <\/td><\/td><\/tr>
Adjustments to reconcile net income to cash flows from operating activities:<\/td><\/td><\/td><\/td><\/tr>
Depreciation, depletion, and amortization<\/td>998 <\/td><\/td>940 <\/td><\/td>904 <\/td><\/td><\/tr>
Deferred income tax provision (benefit)<\/td>196 <\/td><\/td>70 <\/td><\/td>(486)<\/td><\/td><\/tr>
Impairments and other charges<\/td>- <\/td><\/td>366 <\/td><\/td>12 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Changes in assets and liabilities:<\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td>(303)<\/td><\/td>(642)<\/td><\/td>(10)<\/td><\/td><\/tr>
Receivables<\/td>(257)<\/td><\/td>(1,151)<\/td><\/td>(500)<\/td><\/td><\/tr>
Accounts payable<\/td>49 <\/td><\/td>852 <\/td><\/td>795 <\/td><\/td><\/tr>
Other operating activities<\/td>113 <\/td><\/td>212 <\/td><\/td>(272)<\/td><\/td><\/tr>
Total cash flows provided by operating activities<\/td>3,458 <\/td><\/td>2,242 <\/td><\/td>1,911 <\/td><\/td><\/tr>
Cash flows from investing activities:<\/td><\/td><\/td><\/td><\/tr>
Capital expenditures<\/td>(1,379)<\/td><\/td>(1,011)<\/td><\/td>(799)<\/td><\/td><\/tr>
Purchases of investment securities<\/td>(492)<\/td><\/td>(75)<\/td><\/td>(5)<\/td><\/td><\/tr>
Proceeds from sales of property, plant, and equipment<\/td>195 <\/td><\/td>200 <\/td><\/td>257 <\/td><\/td><\/tr>
Sales of investment securities<\/td>131 <\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Proceeds from a structured real estate transaction<\/td>- <\/td><\/td>- <\/td><\/td>87 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other investing activities<\/td>(114)<\/td><\/td>(81)<\/td><\/td>(74)<\/td><\/td><\/tr>
Total cash flows used in investing activities<\/td>(1,659)<\/td><\/td>(967)<\/td><\/td>(534)<\/td><\/td><\/tr>
Cash flows from financing activities:<\/td><\/td><\/td><\/td><\/tr>
Stock repurchase program<\/td>(800)<\/td><\/td>(250)<\/td><\/td>- <\/td><\/td><\/tr>
Dividends to shareholders<\/td>(576)<\/td><\/td>(435)<\/td><\/td>(161)<\/td><\/td><\/tr>
Payments on long-term borrowings<\/td>(305)<\/td><\/td>(1,242)<\/td><\/td>(700)<\/td><\/td><\/tr>
Proceeds from issuance of common stock<\/td>136 <\/td><\/td>229 <\/td><\/td>79 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other financing activities<\/td>(126)<\/td><\/td>(100)<\/td><\/td>(56)<\/td><\/td><\/tr>
Total cash flows used in financing activities<\/td>(1,671)<\/td><\/td>(1,798)<\/td><\/td>(838)<\/td><\/td><\/tr>
Effect of exchange rate changes on cash<\/td>(210)<\/td><\/td>(175)<\/td><\/td>(58)<\/td><\/td><\/tr>
Increase \/ (decrease) in cash and equivalents<\/td>(82)<\/td><\/td>(698)<\/td><\/td>481 <\/td><\/td><\/tr>
Cash and equivalents at beginning of year<\/td>2,346 <\/td><\/td>3,044 <\/td><\/td>2,563 <\/td><\/td><\/tr>
Cash and equivalents at end of year<\/td>$<\/td>2,264 <\/td><\/td>$<\/td>2,346 <\/td><\/td>$<\/td>3,044 <\/td><\/td><\/tr>
Supplemental disclosure of cash flow information:<\/td><\/td><\/td><\/td><\/tr>
Cash payments during the period for:<\/td><\/td><\/td><\/td><\/tr>
Interest<\/td>$<\/td>460 <\/td><\/td>$<\/td>487 <\/td><\/td>$<\/td>517 <\/td><\/td><\/tr>
Income taxes<\/td>$<\/td>616 <\/td><\/td>$<\/td>354 <\/td><\/td>$<\/td>214 <\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 46\n\n\n\n\n\n"} +{"QID":"q_Ra065","Question":"How does Halliburton's solvency position in 2023 compare to 2022 based on the Debt Equity Ratio?","ground_truth_answer":"Method 1:\nTo compare Halliburton's solvency position in 2023 to 2022 based on the Debt Equity Ratio, we need to calculate the ratio for both years.\n\nFor 2023:\nTotal Debt = $13,244 million\nShareholders' Equity = $9,433 million\nDebt Equity Ratio = $13,244 million \/ $9,433 million \u2248 1.40\n\nFor 2022:\nTotal Debt = $13,273 million (sum of current liabilities $5,345 million and long-term debt $7,928 million)\nShareholders' Equity = $7,977 million\nDebt Equity Ratio = $13,273 million \/ $7,977 million \u2248 1.66\n\nComparing the two years, the Debt Equity Ratio decreased from 1.66 in 2022 to 1.40 in 2023. This decrease indicates an improvement in Halliburton's solvency position, as the company has reduced its reliance on debt relative to equity. A lower Debt Equity Ratio suggests a stronger financial position with less financial risk, as the company is less leveraged and has a higher proportion of equity financing. This improvement reflects positively on Halliburton's financial stability and its ability to manage its debt levels effectively.\n\n\nMethod 2:\nDebt-to-Equity Ratio Calculation:\n\nFor 2023:\n\nTotal Debt = $7,636 million (based on long-term debt only)\nShareholders' Equity = $9,433 million\nDebt-to-Equity Ratio = Total Debt \/ Shareholders' Equity = $7,636 \/ $9,433 \u2248 0.81\nFor 2022:\n\nTotal Debt = $7,928 million (based on long-term debt only)\nShareholders' Equity = $7,977 million\nDebt-to-Equity Ratio = Total Debt \/ Shareholders' Equity = $7,928 \/ $7,977 \u2248 0.99","question_type":"Ratio","page_number":45,"accession_number":"0000045012-24-000007","item":"Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 45: \n\n| | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------|:------------------------------------------------|:------------|:--------|:---|:-------|\n| 1 | HALLIBURTON COMPANY Consolidated Balance Sheets | | | | | |\n| 2 | | | December 31 | | | |\n| 3 | Millions of dollars and shares except per share data | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Current assets: | | | | | |\n| 6 | Cash and equivalents | $ | 2,264 | | $ | 2,346 |\n| 7 | Receivables (net of allowances for credit losses of $742 and $731) | 4,860 | | 4,627 | | |\n| 8 | Inventories | 3,226 | | 2,923 | | |\n| 11 | Other current assets | 1,193 | | 1,056 | | |\n| 12 | Total current assets | 11,543 | | 10,952 | | |\n| 13 | Property, plant, and equipment (net of accumulated depreciation of $12,064 and $11,660) | 4,900 | | 4,348 | | |\n| 14 | Goodwill | 2,850 | | 2,829 | | |\n| 15 | Deferred income taxes | 2,505 | | 2,636 | | |\n| 16 | Operating lease right-of-use assets | 1,088 | | 913 | | |\n| 17 | Other assets | 1,797 | | 1,577 | | |\n| 18 | Total assets | $ | 24,683 | | $ | 23,255 |\n| 19 | Liabilities and Shareholders' Equity | | | | | |\n| 20 | Current liabilities: | | | | | |\n| 21 | Accounts payable | $ | 3,147 | | $ | 3,121 |\n| 22 | Accrued employee compensation and benefits | 689 | | 634 | | |\n| 23 | Income taxes payable | 390 | | 294 | | |\n| 24 | Taxes other than income | 370 | | 349 | | |\n| 25 | Current portion of operating lease liabilities | 262 | | 224 | | |\n| 28 | Other current liabilities | 750 | | 723 | | |\n| 29 | Total current liabilities | 5,608 | | 5,345 | | |\n| 30 | Long-term debt | 7,636 | | 7,928 | | |\n| 31 | Operating lease liabilities | 911 | | 791 | | |\n| 32 | Employee compensation and benefits | 408 | | 408 | | |\n| 33 | Other liabilities | 687 | | 806 | | |\n| 34 | Total liabilities | 15,250 | | 15,278 | | |\n| 35 | Shareholders' equity: | | | | | |\n| 36 | Common stock, par value $2.50 per share (authorized 2,000 shares, issued 1,065 and 1,066 shares) | 2,663 | | 2,664 | | |\n| 37 | Paid-in capital in excess of par value | 63 | | 50 | | |\n| 38 | Accumulated other comprehensive loss | (331) | | (230) | | |\n| 39 | Retained earnings | 12,536 | | 10,572 | | |\n| 40 | Treasury stock, at cost (176 and 164 shares) | (5,540) | | (5,108) | | |\n| 41 | Company shareholders' equity | 9,391 | | 7,948 | | |\n| 42 | Noncontrolling interest in consolidated subsidiaries | 42 | | 29 | | |\n| 43 | Total shareholders' equity | 9,433 | | 7,977 | | |\n| 44 | Total liabilities and shareholders' equity | $ | 24,683 | | $ | 23,255 |\n| 45 | | See notes to consolidated financial statements. | | | | |\n\nHAL 2023 FORM 10-K | 45\n\n\n\n\n\n","context_markdown_without_headers":"\n\n| | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------|:------------------------------------------------|:------------|:--------|:---|:-------|\n| 1 | HALLIBURTON COMPANY Consolidated Balance Sheets | | | | | |\n| 2 | | | December 31 | | | |\n| 3 | Millions of dollars and shares except per share data | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Current assets: | | | | | |\n| 6 | Cash and equivalents | $ | 2,264 | | $ | 2,346 |\n| 7 | Receivables (net of allowances for credit losses of $742 and $731) | 4,860 | | 4,627 | | |\n| 8 | Inventories | 3,226 | | 2,923 | | |\n| 11 | Other current assets | 1,193 | | 1,056 | | |\n| 12 | Total current assets | 11,543 | | 10,952 | | |\n| 13 | Property, plant, and equipment (net of accumulated depreciation of $12,064 and $11,660) | 4,900 | | 4,348 | | |\n| 14 | Goodwill | 2,850 | | 2,829 | | |\n| 15 | Deferred income taxes | 2,505 | | 2,636 | | |\n| 16 | Operating lease right-of-use assets | 1,088 | | 913 | | |\n| 17 | Other assets | 1,797 | | 1,577 | | |\n| 18 | Total assets | $ | 24,683 | | $ | 23,255 |\n| 19 | Liabilities and Shareholders' Equity | | | | | |\n| 20 | Current liabilities: | | | | | |\n| 21 | Accounts payable | $ | 3,147 | | $ | 3,121 |\n| 22 | Accrued employee compensation and benefits | 689 | | 634 | | |\n| 23 | Income taxes payable | 390 | | 294 | | |\n| 24 | Taxes other than income | 370 | | 349 | | |\n| 25 | Current portion of operating lease liabilities | 262 | | 224 | | |\n| 28 | Other current liabilities | 750 | | 723 | | |\n| 29 | Total current liabilities | 5,608 | | 5,345 | | |\n| 30 | Long-term debt | 7,636 | | 7,928 | | |\n| 31 | Operating lease liabilities | 911 | | 791 | | |\n| 32 | Employee compensation and benefits | 408 | | 408 | | |\n| 33 | Other liabilities | 687 | | 806 | | |\n| 34 | Total liabilities | 15,250 | | 15,278 | | |\n| 35 | Shareholders' equity: | | | | | |\n| 36 | Common stock, par value $2.50 per share (authorized 2,000 shares, issued 1,065 and 1,066 shares) | 2,663 | | 2,664 | | |\n| 37 | Paid-in capital in excess of par value | 63 | | 50 | | |\n| 38 | Accumulated other comprehensive loss | (331) | | (230) | | |\n| 39 | Retained earnings | 12,536 | | 10,572 | | |\n| 40 | Treasury stock, at cost (176 and 164 shares) | (5,540) | | (5,108) | | |\n| 41 | Company shareholders' equity | 9,391 | | 7,948 | | |\n| 42 | Noncontrolling interest in consolidated subsidiaries | 42 | | 29 | | |\n| 43 | Total shareholders' equity | 9,433 | | 7,977 | | |\n| 44 | Total liabilities and shareholders' equity | $ | 24,683 | | $ | 23,255 |\n| 45 | | See notes to consolidated financial statements. | | | | |\n\nHAL 2023 FORM 10-K | 45\n\n\n\n\n\n","context_html_with_headers":"HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 45: \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
HALLIBURTON COMPANY Consolidated Balance Sheets<\/td><\/td><\/tr>
<\/td><\/td>December 31<\/td><\/td><\/tr>
Millions of dollars and shares except per share data<\/td>2023<\/td>2022<\/td><\/td><\/tr>
Assets<\/td><\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and equivalents<\/td>$<\/td>2,264 <\/td><\/td>$<\/td>2,346 <\/td><\/td><\/td><\/tr>
Receivables (net of allowances for credit losses of $742 and $731)<\/td>4,860 <\/td><\/td>4,627 <\/td><\/td><\/td><\/tr>
Inventories<\/td>3,226 <\/td><\/td>2,923 <\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td>1,193 <\/td><\/td>1,056 <\/td><\/td><\/td><\/tr>
Total current assets<\/td>11,543 <\/td><\/td>10,952 <\/td><\/td><\/td><\/tr>
Property, plant, and equipment (net of accumulated depreciation of $12,064 and $11,660)<\/td>4,900 <\/td><\/td>4,348 <\/td><\/td><\/td><\/tr>
Goodwill<\/td>2,850 <\/td><\/td>2,829 <\/td><\/td><\/td><\/tr>
Deferred income taxes<\/td>2,505 <\/td><\/td>2,636 <\/td><\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>1,088 <\/td><\/td>913 <\/td><\/td><\/td><\/tr>
Other assets<\/td>1,797 <\/td><\/td>1,577 <\/td><\/td><\/td><\/tr>
Total assets<\/td>$<\/td>24,683 <\/td><\/td>$<\/td>23,255 <\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>3,147 <\/td><\/td>$<\/td>3,121 <\/td><\/td><\/td><\/tr>
Accrued employee compensation and benefits<\/td>689 <\/td><\/td>634 <\/td><\/td><\/td><\/tr>
Income taxes payable<\/td>390 <\/td><\/td>294 <\/td><\/td><\/td><\/tr>
Taxes other than income<\/td>370 <\/td><\/td>349 <\/td><\/td><\/td><\/tr>
Current portion of operating lease liabilities <\/td>262 <\/td><\/td>224 <\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other current liabilities<\/td>750 <\/td><\/td>723 <\/td><\/td><\/td><\/tr>
Total current liabilities<\/td>5,608 <\/td><\/td>5,345 <\/td><\/td><\/td><\/tr>
Long-term debt<\/td>7,636 <\/td><\/td>7,928 <\/td><\/td><\/td><\/tr>
Operating lease liabilities<\/td>911 <\/td><\/td>791 <\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>408 <\/td><\/td>408 <\/td><\/td><\/td><\/tr>
Other liabilities<\/td>687 <\/td><\/td>806 <\/td><\/td><\/td><\/tr>
Total liabilities<\/td>15,250 <\/td><\/td>15,278 <\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $2.50 per share (authorized 2,000 shares, issued 1,065 and 1,066 shares)<\/td>2,663 <\/td><\/td>2,664 <\/td><\/td><\/td><\/tr>
Paid-in capital in excess of par value<\/td>63 <\/td><\/td>50 <\/td><\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(331)<\/td><\/td>(230)<\/td><\/td><\/td><\/tr>
Retained earnings<\/td>12,536 <\/td><\/td>10,572 <\/td><\/td><\/td><\/tr>
Treasury stock, at cost (176 and 164 shares)<\/td>(5,540)<\/td><\/td>(5,108)<\/td><\/td><\/td><\/tr>
Company shareholders' equity<\/td>9,391 <\/td><\/td>7,948 <\/td><\/td><\/td><\/tr>
Noncontrolling interest in consolidated subsidiaries<\/td>42 <\/td><\/td>29 <\/td><\/td><\/td><\/tr>
Total shareholders' equity<\/td>9,433 <\/td><\/td>7,977 <\/td><\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>24,683 <\/td><\/td>$<\/td>23,255 <\/td><\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 45\n\n\n\n\n\n","context_html_without_headers":"\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
HALLIBURTON COMPANY Consolidated Balance Sheets<\/td><\/td><\/tr>
<\/td><\/td>December 31<\/td><\/td><\/tr>
Millions of dollars and shares except per share data<\/td>2023<\/td>2022<\/td><\/td><\/tr>
Assets<\/td><\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and equivalents<\/td>$<\/td>2,264 <\/td><\/td>$<\/td>2,346 <\/td><\/td><\/td><\/tr>
Receivables (net of allowances for credit losses of $742 and $731)<\/td>4,860 <\/td><\/td>4,627 <\/td><\/td><\/td><\/tr>
Inventories<\/td>3,226 <\/td><\/td>2,923 <\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td>1,193 <\/td><\/td>1,056 <\/td><\/td><\/td><\/tr>
Total current assets<\/td>11,543 <\/td><\/td>10,952 <\/td><\/td><\/td><\/tr>
Property, plant, and equipment (net of accumulated depreciation of $12,064 and $11,660)<\/td>4,900 <\/td><\/td>4,348 <\/td><\/td><\/td><\/tr>
Goodwill<\/td>2,850 <\/td><\/td>2,829 <\/td><\/td><\/td><\/tr>
Deferred income taxes<\/td>2,505 <\/td><\/td>2,636 <\/td><\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>1,088 <\/td><\/td>913 <\/td><\/td><\/td><\/tr>
Other assets<\/td>1,797 <\/td><\/td>1,577 <\/td><\/td><\/td><\/tr>
Total assets<\/td>$<\/td>24,683 <\/td><\/td>$<\/td>23,255 <\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>3,147 <\/td><\/td>$<\/td>3,121 <\/td><\/td><\/td><\/tr>
Accrued employee compensation and benefits<\/td>689 <\/td><\/td>634 <\/td><\/td><\/td><\/tr>
Income taxes payable<\/td>390 <\/td><\/td>294 <\/td><\/td><\/td><\/tr>
Taxes other than income<\/td>370 <\/td><\/td>349 <\/td><\/td><\/td><\/tr>
Current portion of operating lease liabilities <\/td>262 <\/td><\/td>224 <\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other current liabilities<\/td>750 <\/td><\/td>723 <\/td><\/td><\/td><\/tr>
Total current liabilities<\/td>5,608 <\/td><\/td>5,345 <\/td><\/td><\/td><\/tr>
Long-term debt<\/td>7,636 <\/td><\/td>7,928 <\/td><\/td><\/td><\/tr>
Operating lease liabilities<\/td>911 <\/td><\/td>791 <\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>408 <\/td><\/td>408 <\/td><\/td><\/td><\/tr>
Other liabilities<\/td>687 <\/td><\/td>806 <\/td><\/td><\/td><\/tr>
Total liabilities<\/td>15,250 <\/td><\/td>15,278 <\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $2.50 per share (authorized 2,000 shares, issued 1,065 and 1,066 shares)<\/td>2,663 <\/td><\/td>2,664 <\/td><\/td><\/td><\/tr>
Paid-in capital in excess of par value<\/td>63 <\/td><\/td>50 <\/td><\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(331)<\/td><\/td>(230)<\/td><\/td><\/td><\/tr>
Retained earnings<\/td>12,536 <\/td><\/td>10,572 <\/td><\/td><\/td><\/tr>
Treasury stock, at cost (176 and 164 shares)<\/td>(5,540)<\/td><\/td>(5,108)<\/td><\/td><\/td><\/tr>
Company shareholders' equity<\/td>9,391 <\/td><\/td>7,948 <\/td><\/td><\/td><\/tr>
Noncontrolling interest in consolidated subsidiaries<\/td>42 <\/td><\/td>29 <\/td><\/td><\/td><\/tr>
Total shareholders' equity<\/td>9,433 <\/td><\/td>7,977 <\/td><\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>24,683 <\/td><\/td>$<\/td>23,255 <\/td><\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 45\n\n\n\n\n\n"} +{"QID":"q_Ra066","Question":"Evaluate Halliburton's receivables turnover ratio from 2021 to 2023.","ground_truth_answer":"The receivables turnover ratio is calculated using the formula: Receivables Turnover = Net Credit Sales \/ Average Accounts Receivable. For Halliburton, we will use total revenue as a proxy for net credit sales, as specific net credit sales data is not provided.\n\nTotal revenue for Halliburton over the years is as follows:\n- 2023: $23,018 million\n- 2022: $20,297 million\n- 2021: $15,295 million\n\nThe average accounts receivable for each year can be calculated as the average of the beginning and ending accounts receivable for that year. However, the beginning accounts receivable for 2021 is not provided, so we will use the ending accounts receivable of the previous year as the beginning accounts receivable for the current year.\n\n- Average Accounts Receivable 2023: ($4,627 million + $4,860 million) \/ 2 = $4,743.5 million\n- Average Accounts Receivable 2022: ($4,627 million + $4,627 million) \/ 2 = $4,627 million\n- Average Accounts Receivable 2021: ($4,627 million + $4,627 million) \/ 2 = $4,627 million\n\nUsing these values, the receivables turnover ratios are:\n- 2023: $23,018 million \/ $4,743.5 million = 4.85\n- 2022: $20,297 million \/ $4,627 million = 4.39\n- 2021: $15,295 million \/ $4,627 million = 3.31","question_type":"Ratio","page_number":"43, 45","accession_number":"0000045012-24-000007","item":"Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 43: \n\n| | | | | | | | | |\n|---:|:-------------------------------------------------------------|:----------------------------------------------------------|:-----------------------|:-------|:---|:-------|:---|:-------|\n| 1 | | HALLIBURTON COMPANY Consolidated Statements of Operations | | | | | | |\n| 2 | | | Year Ended December 31 | | | | | |\n| 3 | Millions of dollars and shares except per share data | 2023 | 2022 | 2021 | | | | |\n| 4 | Revenue: | | | | | | | |\n| 5 | Services | $ | 16,483 | | $ | 14,749 | $ | 10,989 |\n| 6 | Product sales | 6,535 | | 5,548 | | 4,306 | | |\n| 7 | Total revenue | 23,018 | | 20,297 | | 15,295 | | |\n| 8 | Operating costs and expenses: | | | | | | | |\n| 9 | Cost of services | 13,402 | | 12,381 | | 9,745 | | |\n| 10 | Cost of sales | 5,256 | | 4,603 | | 3,534 | | |\n| 12 | General and administrative | 226 | | 240 | | 204 | | |\n| 13 | SAP S4 upgrade expense | 51 | | - | | - | | |\n| 14 | Impairments and other charges | - | | 366 | | 12 | | |\n| 16 | Total operating costs and expenses | 18,935 | | 17,590 | | 13,495 | | |\n| 17 | Operating income | 4,083 | | 2,707 | | 1,800 | | |\n| 18 | Interest expense, net of interest income of $81, $29, and $9 | (395) | | (463) | | (520) | | |\n| 19 | Loss on Blue Chip Swap transactions | (110) | | - | | - | | |\n| 20 | Argentina currency impact | (131) | | (30) | | 6 | | |\n| 21 | Loss on early extinguishment of debt | - | | (42) | | - | | |\n| 22 | Other, net | (84) | | (62) | | (34) | | |\n| 23 | Income before income taxes | 3,363 | | 2,110 | | 1,252 | | |\n| 24 | Income tax benefit (provision) | (701) | | (515) | | 216 | | |\n| 27 | Net income | $ | 2,662 | | $ | 1,595 | $ | 1,468 |\n| 28 | Net income attributable to noncontrolling interest | (24) | | (23) | | (11) | | |\n| 29 | Net income attributable to company | $ | 2,638 | | $ | 1,572 | $ | 1,457 |\n| 40 | Basic net income per share | $ | 2.93 | | $ | 1.74 | $ | 1.63 |\n| 41 | Diluted net income per share | $ | 2.92 | | $ | 1.73 | $ | 1.63 |\n| 46 | Basic weighted average common shares outstanding | 899 | | 904 | | 892 | | |\n| 47 | Diluted weighted average common shares outstanding | 902 | | 908 | | 892 | | |\n| 48 | | See notes to consolidated financial statements. | | | | | | |\n\nHAL 2023 FORM 10-K | 43\n\n\n\n\n\n, HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 45: \n\n| | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------|:------------------------------------------------|:------------|:--------|:---|:-------|\n| 1 | HALLIBURTON COMPANY Consolidated Balance Sheets | | | | | |\n| 2 | | | December 31 | | | |\n| 3 | Millions of dollars and shares except per share data | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Current assets: | | | | | |\n| 6 | Cash and equivalents | $ | 2,264 | | $ | 2,346 |\n| 7 | Receivables (net of allowances for credit losses of $742 and $731) | 4,860 | | 4,627 | | |\n| 8 | Inventories | 3,226 | | 2,923 | | |\n| 11 | Other current assets | 1,193 | | 1,056 | | |\n| 12 | Total current assets | 11,543 | | 10,952 | | |\n| 13 | Property, plant, and equipment (net of accumulated depreciation of $12,064 and $11,660) | 4,900 | | 4,348 | | |\n| 14 | Goodwill | 2,850 | | 2,829 | | |\n| 15 | Deferred income taxes | 2,505 | | 2,636 | | |\n| 16 | Operating lease right-of-use assets | 1,088 | | 913 | | |\n| 17 | Other assets | 1,797 | | 1,577 | | |\n| 18 | Total assets | $ | 24,683 | | $ | 23,255 |\n| 19 | Liabilities and Shareholders' Equity | | | | | |\n| 20 | Current liabilities: | | | | | |\n| 21 | Accounts payable | $ | 3,147 | | $ | 3,121 |\n| 22 | Accrued employee compensation and benefits | 689 | | 634 | | |\n| 23 | Income taxes payable | 390 | | 294 | | |\n| 24 | Taxes other than income | 370 | | 349 | | |\n| 25 | Current portion of operating lease liabilities | 262 | | 224 | | |\n| 28 | Other current liabilities | 750 | | 723 | | |\n| 29 | Total current liabilities | 5,608 | | 5,345 | | |\n| 30 | Long-term debt | 7,636 | | 7,928 | | |\n| 31 | Operating lease liabilities | 911 | | 791 | | |\n| 32 | Employee compensation and benefits | 408 | | 408 | | |\n| 33 | Other liabilities | 687 | | 806 | | |\n| 34 | Total liabilities | 15,250 | | 15,278 | | |\n| 35 | Shareholders' equity: | | | | | |\n| 36 | Common stock, par value $2.50 per share (authorized 2,000 shares, issued 1,065 and 1,066 shares) | 2,663 | | 2,664 | | |\n| 37 | Paid-in capital in excess of par value | 63 | | 50 | | |\n| 38 | Accumulated other comprehensive loss | (331) | | (230) | | |\n| 39 | Retained earnings | 12,536 | | 10,572 | | |\n| 40 | Treasury stock, at cost (176 and 164 shares) | (5,540) | | (5,108) | | |\n| 41 | Company shareholders' equity | 9,391 | | 7,948 | | |\n| 42 | Noncontrolling interest in consolidated subsidiaries | 42 | | 29 | | |\n| 43 | Total shareholders' equity | 9,433 | | 7,977 | | |\n| 44 | Total liabilities and shareholders' equity | $ | 24,683 | | $ | 23,255 |\n| 45 | | See notes to consolidated financial statements. | | | | |\n\nHAL 2023 FORM 10-K | 45\n\n\n\n\n\n","context_markdown_without_headers":"\n\n| | | | | | | | | |\n|---:|:-------------------------------------------------------------|:----------------------------------------------------------|:-----------------------|:-------|:---|:-------|:---|:-------|\n| 1 | | HALLIBURTON COMPANY Consolidated Statements of Operations | | | | | | |\n| 2 | | | Year Ended December 31 | | | | | |\n| 3 | Millions of dollars and shares except per share data | 2023 | 2022 | 2021 | | | | |\n| 4 | Revenue: | | | | | | | |\n| 5 | Services | $ | 16,483 | | $ | 14,749 | $ | 10,989 |\n| 6 | Product sales | 6,535 | | 5,548 | | 4,306 | | |\n| 7 | Total revenue | 23,018 | | 20,297 | | 15,295 | | |\n| 8 | Operating costs and expenses: | | | | | | | |\n| 9 | Cost of services | 13,402 | | 12,381 | | 9,745 | | |\n| 10 | Cost of sales | 5,256 | | 4,603 | | 3,534 | | |\n| 12 | General and administrative | 226 | | 240 | | 204 | | |\n| 13 | SAP S4 upgrade expense | 51 | | - | | - | | |\n| 14 | Impairments and other charges | - | | 366 | | 12 | | |\n| 16 | Total operating costs and expenses | 18,935 | | 17,590 | | 13,495 | | |\n| 17 | Operating income | 4,083 | | 2,707 | | 1,800 | | |\n| 18 | Interest expense, net of interest income of $81, $29, and $9 | (395) | | (463) | | (520) | | |\n| 19 | Loss on Blue Chip Swap transactions | (110) | | - | | - | | |\n| 20 | Argentina currency impact | (131) | | (30) | | 6 | | |\n| 21 | Loss on early extinguishment of debt | - | | (42) | | - | | |\n| 22 | Other, net | (84) | | (62) | | (34) | | |\n| 23 | Income before income taxes | 3,363 | | 2,110 | | 1,252 | | |\n| 24 | Income tax benefit (provision) | (701) | | (515) | | 216 | | |\n| 27 | Net income | $ | 2,662 | | $ | 1,595 | $ | 1,468 |\n| 28 | Net income attributable to noncontrolling interest | (24) | | (23) | | (11) | | |\n| 29 | Net income attributable to company | $ | 2,638 | | $ | 1,572 | $ | 1,457 |\n| 40 | Basic net income per share | $ | 2.93 | | $ | 1.74 | $ | 1.63 |\n| 41 | Diluted net income per share | $ | 2.92 | | $ | 1.73 | $ | 1.63 |\n| 46 | Basic weighted average common shares outstanding | 899 | | 904 | | 892 | | |\n| 47 | Diluted weighted average common shares outstanding | 902 | | 908 | | 892 | | |\n| 48 | | See notes to consolidated financial statements. | | | | | | |\n\nHAL 2023 FORM 10-K | 43\n\n\n\n\n\n, \n\n| | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------|:------------------------------------------------|:------------|:--------|:---|:-------|\n| 1 | HALLIBURTON COMPANY Consolidated Balance Sheets | | | | | |\n| 2 | | | December 31 | | | |\n| 3 | Millions of dollars and shares except per share data | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Current assets: | | | | | |\n| 6 | Cash and equivalents | $ | 2,264 | | $ | 2,346 |\n| 7 | Receivables (net of allowances for credit losses of $742 and $731) | 4,860 | | 4,627 | | |\n| 8 | Inventories | 3,226 | | 2,923 | | |\n| 11 | Other current assets | 1,193 | | 1,056 | | |\n| 12 | Total current assets | 11,543 | | 10,952 | | |\n| 13 | Property, plant, and equipment (net of accumulated depreciation of $12,064 and $11,660) | 4,900 | | 4,348 | | |\n| 14 | Goodwill | 2,850 | | 2,829 | | |\n| 15 | Deferred income taxes | 2,505 | | 2,636 | | |\n| 16 | Operating lease right-of-use assets | 1,088 | | 913 | | |\n| 17 | Other assets | 1,797 | | 1,577 | | |\n| 18 | Total assets | $ | 24,683 | | $ | 23,255 |\n| 19 | Liabilities and Shareholders' Equity | | | | | |\n| 20 | Current liabilities: | | | | | |\n| 21 | Accounts payable | $ | 3,147 | | $ | 3,121 |\n| 22 | Accrued employee compensation and benefits | 689 | | 634 | | |\n| 23 | Income taxes payable | 390 | | 294 | | |\n| 24 | Taxes other than income | 370 | | 349 | | |\n| 25 | Current portion of operating lease liabilities | 262 | | 224 | | |\n| 28 | Other current liabilities | 750 | | 723 | | |\n| 29 | Total current liabilities | 5,608 | | 5,345 | | |\n| 30 | Long-term debt | 7,636 | | 7,928 | | |\n| 31 | Operating lease liabilities | 911 | | 791 | | |\n| 32 | Employee compensation and benefits | 408 | | 408 | | |\n| 33 | Other liabilities | 687 | | 806 | | |\n| 34 | Total liabilities | 15,250 | | 15,278 | | |\n| 35 | Shareholders' equity: | | | | | |\n| 36 | Common stock, par value $2.50 per share (authorized 2,000 shares, issued 1,065 and 1,066 shares) | 2,663 | | 2,664 | | |\n| 37 | Paid-in capital in excess of par value | 63 | | 50 | | |\n| 38 | Accumulated other comprehensive loss | (331) | | (230) | | |\n| 39 | Retained earnings | 12,536 | | 10,572 | | |\n| 40 | Treasury stock, at cost (176 and 164 shares) | (5,540) | | (5,108) | | |\n| 41 | Company shareholders' equity | 9,391 | | 7,948 | | |\n| 42 | Noncontrolling interest in consolidated subsidiaries | 42 | | 29 | | |\n| 43 | Total shareholders' equity | 9,433 | | 7,977 | | |\n| 44 | Total liabilities and shareholders' equity | $ | 24,683 | | $ | 23,255 |\n| 45 | | See notes to consolidated financial statements. | | | | |\n\nHAL 2023 FORM 10-K | 45\n\n\n\n\n\n","context_html_with_headers":"HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 43: \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>HALLIBURTON COMPANY Consolidated Statements of Operations<\/td><\/tr>
<\/td><\/td>Year Ended December 31<\/td><\/tr>
Millions of dollars and shares except per share data<\/td>2023<\/td>2022<\/td>2021<\/td><\/tr>
Revenue:<\/td><\/td><\/td><\/td><\/tr>
Services<\/td>$<\/td>16,483 <\/td><\/td>$<\/td>14,749 <\/td><\/td>$<\/td>10,989 <\/td><\/td><\/tr>
Product sales<\/td>6,535 <\/td><\/td>5,548 <\/td><\/td>4,306 <\/td><\/td><\/tr>
Total revenue<\/td>23,018 <\/td><\/td>20,297 <\/td><\/td>15,295 <\/td><\/td><\/tr>
Operating costs and expenses:<\/td><\/td><\/td><\/td><\/tr>
Cost of services<\/td>13,402 <\/td><\/td>12,381 <\/td><\/td>9,745 <\/td><\/td><\/tr>
Cost of sales<\/td>5,256 <\/td><\/td>4,603 <\/td><\/td>3,534 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
General and administrative<\/td>226 <\/td><\/td>240 <\/td><\/td>204 <\/td><\/td><\/tr>
SAP S4 upgrade expense<\/td>51 <\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Impairments and other charges<\/td>- <\/td><\/td>366 <\/td><\/td>12 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating costs and expenses<\/td>18,935 <\/td><\/td>17,590 <\/td><\/td>13,495 <\/td><\/td><\/tr>
Operating income<\/td>4,083 <\/td><\/td>2,707 <\/td><\/td>1,800 <\/td><\/td><\/tr>
Interest expense, net of interest income of $81, $29, and $9<\/td>(395)<\/td><\/td>(463)<\/td><\/td>(520)<\/td><\/td><\/tr>
Loss on Blue Chip Swap transactions<\/td>(110)<\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Argentina currency impact<\/td>(131)<\/td><\/td>(30)<\/td><\/td>6 <\/td><\/td><\/tr>
Loss on early extinguishment of debt<\/td>- <\/td><\/td>(42)<\/td><\/td>- <\/td><\/td><\/tr>
Other, net<\/td>(84)<\/td><\/td>(62)<\/td><\/td>(34)<\/td><\/td><\/tr>
Income before income taxes<\/td>3,363 <\/td><\/td>2,110 <\/td><\/td>1,252 <\/td><\/td><\/tr>
Income tax benefit (provision)<\/td>(701)<\/td><\/td>(515)<\/td><\/td>216 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,662 <\/td><\/td>$<\/td>1,595 <\/td><\/td>$<\/td>1,468 <\/td><\/td><\/tr>
Net income attributable to noncontrolling interest <\/td>(24)<\/td><\/td>(23)<\/td><\/td>(11)<\/td><\/td><\/tr>
Net income attributable to company<\/td>$<\/td>2,638 <\/td><\/td>$<\/td>1,572 <\/td><\/td>$<\/td>1,457 <\/td><\/td><\/tr>
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<\/td><\/td><\/td><\/td><\/td><\/tr>
Basic net income per share<\/td>$<\/td>2.93 <\/td><\/td>$<\/td>1.74 <\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Diluted net income per share<\/td>$<\/td>2.92 <\/td><\/td>$<\/td>1.73 <\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
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<\/td><\/td><\/td><\/td><\/tr>
Basic weighted average common shares outstanding<\/td>899 <\/td><\/td>904 <\/td><\/td>892 <\/td><\/td><\/tr>
Diluted weighted average common shares outstanding<\/td>902 <\/td><\/td>908 <\/td><\/td>892 <\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 43\n\n\n\n\n\n, HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 45: \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
HALLIBURTON COMPANY Consolidated Balance Sheets<\/td><\/td><\/tr>
<\/td><\/td>December 31<\/td><\/td><\/tr>
Millions of dollars and shares except per share data<\/td>2023<\/td>2022<\/td><\/td><\/tr>
Assets<\/td><\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and equivalents<\/td>$<\/td>2,264 <\/td><\/td>$<\/td>2,346 <\/td><\/td><\/td><\/tr>
Receivables (net of allowances for credit losses of $742 and $731)<\/td>4,860 <\/td><\/td>4,627 <\/td><\/td><\/td><\/tr>
Inventories<\/td>3,226 <\/td><\/td>2,923 <\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td>1,193 <\/td><\/td>1,056 <\/td><\/td><\/td><\/tr>
Total current assets<\/td>11,543 <\/td><\/td>10,952 <\/td><\/td><\/td><\/tr>
Property, plant, and equipment (net of accumulated depreciation of $12,064 and $11,660)<\/td>4,900 <\/td><\/td>4,348 <\/td><\/td><\/td><\/tr>
Goodwill<\/td>2,850 <\/td><\/td>2,829 <\/td><\/td><\/td><\/tr>
Deferred income taxes<\/td>2,505 <\/td><\/td>2,636 <\/td><\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>1,088 <\/td><\/td>913 <\/td><\/td><\/td><\/tr>
Other assets<\/td>1,797 <\/td><\/td>1,577 <\/td><\/td><\/td><\/tr>
Total assets<\/td>$<\/td>24,683 <\/td><\/td>$<\/td>23,255 <\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>3,147 <\/td><\/td>$<\/td>3,121 <\/td><\/td><\/td><\/tr>
Accrued employee compensation and benefits<\/td>689 <\/td><\/td>634 <\/td><\/td><\/td><\/tr>
Income taxes payable<\/td>390 <\/td><\/td>294 <\/td><\/td><\/td><\/tr>
Taxes other than income<\/td>370 <\/td><\/td>349 <\/td><\/td><\/td><\/tr>
Current portion of operating lease liabilities <\/td>262 <\/td><\/td>224 <\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other current liabilities<\/td>750 <\/td><\/td>723 <\/td><\/td><\/td><\/tr>
Total current liabilities<\/td>5,608 <\/td><\/td>5,345 <\/td><\/td><\/td><\/tr>
Long-term debt<\/td>7,636 <\/td><\/td>7,928 <\/td><\/td><\/td><\/tr>
Operating lease liabilities<\/td>911 <\/td><\/td>791 <\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>408 <\/td><\/td>408 <\/td><\/td><\/td><\/tr>
Other liabilities<\/td>687 <\/td><\/td>806 <\/td><\/td><\/td><\/tr>
Total liabilities<\/td>15,250 <\/td><\/td>15,278 <\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $2.50 per share (authorized 2,000 shares, issued 1,065 and 1,066 shares)<\/td>2,663 <\/td><\/td>2,664 <\/td><\/td><\/td><\/tr>
Paid-in capital in excess of par value<\/td>63 <\/td><\/td>50 <\/td><\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(331)<\/td><\/td>(230)<\/td><\/td><\/td><\/tr>
Retained earnings<\/td>12,536 <\/td><\/td>10,572 <\/td><\/td><\/td><\/tr>
Treasury stock, at cost (176 and 164 shares)<\/td>(5,540)<\/td><\/td>(5,108)<\/td><\/td><\/td><\/tr>
Company shareholders' equity<\/td>9,391 <\/td><\/td>7,948 <\/td><\/td><\/td><\/tr>
Noncontrolling interest in consolidated subsidiaries<\/td>42 <\/td><\/td>29 <\/td><\/td><\/td><\/tr>
Total shareholders' equity<\/td>9,433 <\/td><\/td>7,977 <\/td><\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>24,683 <\/td><\/td>$<\/td>23,255 <\/td><\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 45\n\n\n\n\n\n","context_html_without_headers":"\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>HALLIBURTON COMPANY Consolidated Statements of Operations<\/td><\/tr>
<\/td><\/td>Year Ended December 31<\/td><\/tr>
Millions of dollars and shares except per share data<\/td>2023<\/td>2022<\/td>2021<\/td><\/tr>
Revenue:<\/td><\/td><\/td><\/td><\/tr>
Services<\/td>$<\/td>16,483 <\/td><\/td>$<\/td>14,749 <\/td><\/td>$<\/td>10,989 <\/td><\/td><\/tr>
Product sales<\/td>6,535 <\/td><\/td>5,548 <\/td><\/td>4,306 <\/td><\/td><\/tr>
Total revenue<\/td>23,018 <\/td><\/td>20,297 <\/td><\/td>15,295 <\/td><\/td><\/tr>
Operating costs and expenses:<\/td><\/td><\/td><\/td><\/tr>
Cost of services<\/td>13,402 <\/td><\/td>12,381 <\/td><\/td>9,745 <\/td><\/td><\/tr>
Cost of sales<\/td>5,256 <\/td><\/td>4,603 <\/td><\/td>3,534 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
General and administrative<\/td>226 <\/td><\/td>240 <\/td><\/td>204 <\/td><\/td><\/tr>
SAP S4 upgrade expense<\/td>51 <\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Impairments and other charges<\/td>- <\/td><\/td>366 <\/td><\/td>12 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating costs and expenses<\/td>18,935 <\/td><\/td>17,590 <\/td><\/td>13,495 <\/td><\/td><\/tr>
Operating income<\/td>4,083 <\/td><\/td>2,707 <\/td><\/td>1,800 <\/td><\/td><\/tr>
Interest expense, net of interest income of $81, $29, and $9<\/td>(395)<\/td><\/td>(463)<\/td><\/td>(520)<\/td><\/td><\/tr>
Loss on Blue Chip Swap transactions<\/td>(110)<\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Argentina currency impact<\/td>(131)<\/td><\/td>(30)<\/td><\/td>6 <\/td><\/td><\/tr>
Loss on early extinguishment of debt<\/td>- <\/td><\/td>(42)<\/td><\/td>- <\/td><\/td><\/tr>
Other, net<\/td>(84)<\/td><\/td>(62)<\/td><\/td>(34)<\/td><\/td><\/tr>
Income before income taxes<\/td>3,363 <\/td><\/td>2,110 <\/td><\/td>1,252 <\/td><\/td><\/tr>
Income tax benefit (provision)<\/td>(701)<\/td><\/td>(515)<\/td><\/td>216 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,662 <\/td><\/td>$<\/td>1,595 <\/td><\/td>$<\/td>1,468 <\/td><\/td><\/tr>
Net income attributable to noncontrolling interest <\/td>(24)<\/td><\/td>(23)<\/td><\/td>(11)<\/td><\/td><\/tr>
Net income attributable to company<\/td>$<\/td>2,638 <\/td><\/td>$<\/td>1,572 <\/td><\/td>$<\/td>1,457 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
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<\/td><\/td><\/td><\/td><\/td><\/tr>
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<\/td><\/td><\/td><\/td><\/td><\/tr>
Basic net income per share<\/td>$<\/td>2.93 <\/td><\/td>$<\/td>1.74 <\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Diluted net income per share<\/td>$<\/td>2.92 <\/td><\/td>$<\/td>1.73 <\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
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<\/td><\/td><\/td><\/td><\/tr>
Basic weighted average common shares outstanding<\/td>899 <\/td><\/td>904 <\/td><\/td>892 <\/td><\/td><\/tr>
Diluted weighted average common shares outstanding<\/td>902 <\/td><\/td>908 <\/td><\/td>892 <\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 43\n\n\n\n\n\n, \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
HALLIBURTON COMPANY Consolidated Balance Sheets<\/td><\/td><\/tr>
<\/td><\/td>December 31<\/td><\/td><\/tr>
Millions of dollars and shares except per share data<\/td>2023<\/td>2022<\/td><\/td><\/tr>
Assets<\/td><\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and equivalents<\/td>$<\/td>2,264 <\/td><\/td>$<\/td>2,346 <\/td><\/td><\/td><\/tr>
Receivables (net of allowances for credit losses of $742 and $731)<\/td>4,860 <\/td><\/td>4,627 <\/td><\/td><\/td><\/tr>
Inventories<\/td>3,226 <\/td><\/td>2,923 <\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td>1,193 <\/td><\/td>1,056 <\/td><\/td><\/td><\/tr>
Total current assets<\/td>11,543 <\/td><\/td>10,952 <\/td><\/td><\/td><\/tr>
Property, plant, and equipment (net of accumulated depreciation of $12,064 and $11,660)<\/td>4,900 <\/td><\/td>4,348 <\/td><\/td><\/td><\/tr>
Goodwill<\/td>2,850 <\/td><\/td>2,829 <\/td><\/td><\/td><\/tr>
Deferred income taxes<\/td>2,505 <\/td><\/td>2,636 <\/td><\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>1,088 <\/td><\/td>913 <\/td><\/td><\/td><\/tr>
Other assets<\/td>1,797 <\/td><\/td>1,577 <\/td><\/td><\/td><\/tr>
Total assets<\/td>$<\/td>24,683 <\/td><\/td>$<\/td>23,255 <\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>3,147 <\/td><\/td>$<\/td>3,121 <\/td><\/td><\/td><\/tr>
Accrued employee compensation and benefits<\/td>689 <\/td><\/td>634 <\/td><\/td><\/td><\/tr>
Income taxes payable<\/td>390 <\/td><\/td>294 <\/td><\/td><\/td><\/tr>
Taxes other than income<\/td>370 <\/td><\/td>349 <\/td><\/td><\/td><\/tr>
Current portion of operating lease liabilities <\/td>262 <\/td><\/td>224 <\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other current liabilities<\/td>750 <\/td><\/td>723 <\/td><\/td><\/td><\/tr>
Total current liabilities<\/td>5,608 <\/td><\/td>5,345 <\/td><\/td><\/td><\/tr>
Long-term debt<\/td>7,636 <\/td><\/td>7,928 <\/td><\/td><\/td><\/tr>
Operating lease liabilities<\/td>911 <\/td><\/td>791 <\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>408 <\/td><\/td>408 <\/td><\/td><\/td><\/tr>
Other liabilities<\/td>687 <\/td><\/td>806 <\/td><\/td><\/td><\/tr>
Total liabilities<\/td>15,250 <\/td><\/td>15,278 <\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $2.50 per share (authorized 2,000 shares, issued 1,065 and 1,066 shares)<\/td>2,663 <\/td><\/td>2,664 <\/td><\/td><\/td><\/tr>
Paid-in capital in excess of par value<\/td>63 <\/td><\/td>50 <\/td><\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(331)<\/td><\/td>(230)<\/td><\/td><\/td><\/tr>
Retained earnings<\/td>12,536 <\/td><\/td>10,572 <\/td><\/td><\/td><\/tr>
Treasury stock, at cost (176 and 164 shares)<\/td>(5,540)<\/td><\/td>(5,108)<\/td><\/td><\/td><\/tr>
Company shareholders' equity<\/td>9,391 <\/td><\/td>7,948 <\/td><\/td><\/td><\/tr>
Noncontrolling interest in consolidated subsidiaries<\/td>42 <\/td><\/td>29 <\/td><\/td><\/td><\/tr>
Total shareholders' equity<\/td>9,433 <\/td><\/td>7,977 <\/td><\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>24,683 <\/td><\/td>$<\/td>23,255 <\/td><\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 45\n\n\n\n\n\n"} +{"QID":"q_Ra067","Question":"What was the Days Payable Outstanding (DPO) of Halliburton's over the period from 2021 to 2023?","ground_truth_answer":"Days Payable Outstanding (DPO) is calculated using the formula:\nDPO = (Accounts Payable \/ Cost of Goods Sold) * Number of Days.\n\nThe Cost of Goods Sold (COGS) is calculated as the sum of \"Cost of Services\" and \"Cost of Sales\" from the Consolidated Statements of Operations.\n\nFor 2023:\n\nCost of Services = $13,402 million\nCost of Sales = $5,256 million\nCOGS = $13,402 million + $5,256 million = $18,658 million\nFor 2022:\n\nCost of Services = $12,381 million\nCost of Sales = $4,603 million\nCOGS = $12,381 million + $4,603 million = $16,984 million\nFor 2021:\n\nCost of Services = $9,745 million\nCost of Sales = $3,534 million\nCOGS = $9,745 million + $3,534 million = $13,279 million\nUsing the Accounts Payable data from the Consolidated Balance Sheets:\n\nAccounts Payable (2023): $3,147 million\nAccounts Payable (2022): $3,121 million\nNote: The Accounts Payable for 2021 is not provided, so we cannot calculate the DPO for 2021 accurately.\n\nDPO for each year:\nFor 2023:\nDPO = ($3,147 million \/ $18,658 million) * 365 = 61.5 days\n\nFor 2022:\nDPO = ($3,121 million \/ $16,984 million) * 365 = 67.1 days\n\nAnalysis:\nThe DPO for Halliburton decreased from 67.1 days in 2022 to 61.5 days in 2023, indicating that the company is paying its suppliers more quickly. The calculation for 2021 could not be completed due to missing Accounts Payable data.","question_type":"Ratio","page_number":"43, 45","accession_number":"0000045012-24-000007","item":"Item 8. Financial Statements and Supplementary Data.","context_markdown_with_headers":"HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 43: \n\n| | | | | | | | | |\n|---:|:-------------------------------------------------------------|:----------------------------------------------------------|:-----------------------|:-------|:---|:-------|:---|:-------|\n| 1 | | HALLIBURTON COMPANY Consolidated Statements of Operations | | | | | | |\n| 2 | | | Year Ended December 31 | | | | | |\n| 3 | Millions of dollars and shares except per share data | 2023 | 2022 | 2021 | | | | |\n| 4 | Revenue: | | | | | | | |\n| 5 | Services | $ | 16,483 | | $ | 14,749 | $ | 10,989 |\n| 6 | Product sales | 6,535 | | 5,548 | | 4,306 | | |\n| 7 | Total revenue | 23,018 | | 20,297 | | 15,295 | | |\n| 8 | Operating costs and expenses: | | | | | | | |\n| 9 | Cost of services | 13,402 | | 12,381 | | 9,745 | | |\n| 10 | Cost of sales | 5,256 | | 4,603 | | 3,534 | | |\n| 12 | General and administrative | 226 | | 240 | | 204 | | |\n| 13 | SAP S4 upgrade expense | 51 | | - | | - | | |\n| 14 | Impairments and other charges | - | | 366 | | 12 | | |\n| 16 | Total operating costs and expenses | 18,935 | | 17,590 | | 13,495 | | |\n| 17 | Operating income | 4,083 | | 2,707 | | 1,800 | | |\n| 18 | Interest expense, net of interest income of $81, $29, and $9 | (395) | | (463) | | (520) | | |\n| 19 | Loss on Blue Chip Swap transactions | (110) | | - | | - | | |\n| 20 | Argentina currency impact | (131) | | (30) | | 6 | | |\n| 21 | Loss on early extinguishment of debt | - | | (42) | | - | | |\n| 22 | Other, net | (84) | | (62) | | (34) | | |\n| 23 | Income before income taxes | 3,363 | | 2,110 | | 1,252 | | |\n| 24 | Income tax benefit (provision) | (701) | | (515) | | 216 | | |\n| 27 | Net income | $ | 2,662 | | $ | 1,595 | $ | 1,468 |\n| 28 | Net income attributable to noncontrolling interest | (24) | | (23) | | (11) | | |\n| 29 | Net income attributable to company | $ | 2,638 | | $ | 1,572 | $ | 1,457 |\n| 40 | Basic net income per share | $ | 2.93 | | $ | 1.74 | $ | 1.63 |\n| 41 | Diluted net income per share | $ | 2.92 | | $ | 1.73 | $ | 1.63 |\n| 46 | Basic weighted average common shares outstanding | 899 | | 904 | | 892 | | |\n| 47 | Diluted weighted average common shares outstanding | 902 | | 908 | | 892 | | |\n| 48 | | See notes to consolidated financial statements. | | | | | | |\n\nHAL 2023 FORM 10-K | 43\n\n\n\n\n\n, HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 45: \n\n| | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------|:------------------------------------------------|:------------|:--------|:---|:-------|\n| 1 | HALLIBURTON COMPANY Consolidated Balance Sheets | | | | | |\n| 2 | | | December 31 | | | |\n| 3 | Millions of dollars and shares except per share data | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Current assets: | | | | | |\n| 6 | Cash and equivalents | $ | 2,264 | | $ | 2,346 |\n| 7 | Receivables (net of allowances for credit losses of $742 and $731) | 4,860 | | 4,627 | | |\n| 8 | Inventories | 3,226 | | 2,923 | | |\n| 11 | Other current assets | 1,193 | | 1,056 | | |\n| 12 | Total current assets | 11,543 | | 10,952 | | |\n| 13 | Property, plant, and equipment (net of accumulated depreciation of $12,064 and $11,660) | 4,900 | | 4,348 | | |\n| 14 | Goodwill | 2,850 | | 2,829 | | |\n| 15 | Deferred income taxes | 2,505 | | 2,636 | | |\n| 16 | Operating lease right-of-use assets | 1,088 | | 913 | | |\n| 17 | Other assets | 1,797 | | 1,577 | | |\n| 18 | Total assets | $ | 24,683 | | $ | 23,255 |\n| 19 | Liabilities and Shareholders' Equity | | | | | |\n| 20 | Current liabilities: | | | | | |\n| 21 | Accounts payable | $ | 3,147 | | $ | 3,121 |\n| 22 | Accrued employee compensation and benefits | 689 | | 634 | | |\n| 23 | Income taxes payable | 390 | | 294 | | |\n| 24 | Taxes other than income | 370 | | 349 | | |\n| 25 | Current portion of operating lease liabilities | 262 | | 224 | | |\n| 28 | Other current liabilities | 750 | | 723 | | |\n| 29 | Total current liabilities | 5,608 | | 5,345 | | |\n| 30 | Long-term debt | 7,636 | | 7,928 | | |\n| 31 | Operating lease liabilities | 911 | | 791 | | |\n| 32 | Employee compensation and benefits | 408 | | 408 | | |\n| 33 | Other liabilities | 687 | | 806 | | |\n| 34 | Total liabilities | 15,250 | | 15,278 | | |\n| 35 | Shareholders' equity: | | | | | |\n| 36 | Common stock, par value $2.50 per share (authorized 2,000 shares, issued 1,065 and 1,066 shares) | 2,663 | | 2,664 | | |\n| 37 | Paid-in capital in excess of par value | 63 | | 50 | | |\n| 38 | Accumulated other comprehensive loss | (331) | | (230) | | |\n| 39 | Retained earnings | 12,536 | | 10,572 | | |\n| 40 | Treasury stock, at cost (176 and 164 shares) | (5,540) | | (5,108) | | |\n| 41 | Company shareholders' equity | 9,391 | | 7,948 | | |\n| 42 | Noncontrolling interest in consolidated subsidiaries | 42 | | 29 | | |\n| 43 | Total shareholders' equity | 9,433 | | 7,977 | | |\n| 44 | Total liabilities and shareholders' equity | $ | 24,683 | | $ | 23,255 |\n| 45 | | See notes to consolidated financial statements. | | | | |\n\nHAL 2023 FORM 10-K | 45\n\n\n\n\n\n","context_markdown_without_headers":"\n\n| | | | | | | | | |\n|---:|:-------------------------------------------------------------|:----------------------------------------------------------|:-----------------------|:-------|:---|:-------|:---|:-------|\n| 1 | | HALLIBURTON COMPANY Consolidated Statements of Operations | | | | | | |\n| 2 | | | Year Ended December 31 | | | | | |\n| 3 | Millions of dollars and shares except per share data | 2023 | 2022 | 2021 | | | | |\n| 4 | Revenue: | | | | | | | |\n| 5 | Services | $ | 16,483 | | $ | 14,749 | $ | 10,989 |\n| 6 | Product sales | 6,535 | | 5,548 | | 4,306 | | |\n| 7 | Total revenue | 23,018 | | 20,297 | | 15,295 | | |\n| 8 | Operating costs and expenses: | | | | | | | |\n| 9 | Cost of services | 13,402 | | 12,381 | | 9,745 | | |\n| 10 | Cost of sales | 5,256 | | 4,603 | | 3,534 | | |\n| 12 | General and administrative | 226 | | 240 | | 204 | | |\n| 13 | SAP S4 upgrade expense | 51 | | - | | - | | |\n| 14 | Impairments and other charges | - | | 366 | | 12 | | |\n| 16 | Total operating costs and expenses | 18,935 | | 17,590 | | 13,495 | | |\n| 17 | Operating income | 4,083 | | 2,707 | | 1,800 | | |\n| 18 | Interest expense, net of interest income of $81, $29, and $9 | (395) | | (463) | | (520) | | |\n| 19 | Loss on Blue Chip Swap transactions | (110) | | - | | - | | |\n| 20 | Argentina currency impact | (131) | | (30) | | 6 | | |\n| 21 | Loss on early extinguishment of debt | - | | (42) | | - | | |\n| 22 | Other, net | (84) | | (62) | | (34) | | |\n| 23 | Income before income taxes | 3,363 | | 2,110 | | 1,252 | | |\n| 24 | Income tax benefit (provision) | (701) | | (515) | | 216 | | |\n| 27 | Net income | $ | 2,662 | | $ | 1,595 | $ | 1,468 |\n| 28 | Net income attributable to noncontrolling interest | (24) | | (23) | | (11) | | |\n| 29 | Net income attributable to company | $ | 2,638 | | $ | 1,572 | $ | 1,457 |\n| 40 | Basic net income per share | $ | 2.93 | | $ | 1.74 | $ | 1.63 |\n| 41 | Diluted net income per share | $ | 2.92 | | $ | 1.73 | $ | 1.63 |\n| 46 | Basic weighted average common shares outstanding | 899 | | 904 | | 892 | | |\n| 47 | Diluted weighted average common shares outstanding | 902 | | 908 | | 892 | | |\n| 48 | | See notes to consolidated financial statements. | | | | | | |\n\nHAL 2023 FORM 10-K | 43\n\n\n\n\n\n, \n\n| | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------|:------------------------------------------------|:------------|:--------|:---|:-------|\n| 1 | HALLIBURTON COMPANY Consolidated Balance Sheets | | | | | |\n| 2 | | | December 31 | | | |\n| 3 | Millions of dollars and shares except per share data | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Current assets: | | | | | |\n| 6 | Cash and equivalents | $ | 2,264 | | $ | 2,346 |\n| 7 | Receivables (net of allowances for credit losses of $742 and $731) | 4,860 | | 4,627 | | |\n| 8 | Inventories | 3,226 | | 2,923 | | |\n| 11 | Other current assets | 1,193 | | 1,056 | | |\n| 12 | Total current assets | 11,543 | | 10,952 | | |\n| 13 | Property, plant, and equipment (net of accumulated depreciation of $12,064 and $11,660) | 4,900 | | 4,348 | | |\n| 14 | Goodwill | 2,850 | | 2,829 | | |\n| 15 | Deferred income taxes | 2,505 | | 2,636 | | |\n| 16 | Operating lease right-of-use assets | 1,088 | | 913 | | |\n| 17 | Other assets | 1,797 | | 1,577 | | |\n| 18 | Total assets | $ | 24,683 | | $ | 23,255 |\n| 19 | Liabilities and Shareholders' Equity | | | | | |\n| 20 | Current liabilities: | | | | | |\n| 21 | Accounts payable | $ | 3,147 | | $ | 3,121 |\n| 22 | Accrued employee compensation and benefits | 689 | | 634 | | |\n| 23 | Income taxes payable | 390 | | 294 | | |\n| 24 | Taxes other than income | 370 | | 349 | | |\n| 25 | Current portion of operating lease liabilities | 262 | | 224 | | |\n| 28 | Other current liabilities | 750 | | 723 | | |\n| 29 | Total current liabilities | 5,608 | | 5,345 | | |\n| 30 | Long-term debt | 7,636 | | 7,928 | | |\n| 31 | Operating lease liabilities | 911 | | 791 | | |\n| 32 | Employee compensation and benefits | 408 | | 408 | | |\n| 33 | Other liabilities | 687 | | 806 | | |\n| 34 | Total liabilities | 15,250 | | 15,278 | | |\n| 35 | Shareholders' equity: | | | | | |\n| 36 | Common stock, par value $2.50 per share (authorized 2,000 shares, issued 1,065 and 1,066 shares) | 2,663 | | 2,664 | | |\n| 37 | Paid-in capital in excess of par value | 63 | | 50 | | |\n| 38 | Accumulated other comprehensive loss | (331) | | (230) | | |\n| 39 | Retained earnings | 12,536 | | 10,572 | | |\n| 40 | Treasury stock, at cost (176 and 164 shares) | (5,540) | | (5,108) | | |\n| 41 | Company shareholders' equity | 9,391 | | 7,948 | | |\n| 42 | Noncontrolling interest in consolidated subsidiaries | 42 | | 29 | | |\n| 43 | Total shareholders' equity | 9,433 | | 7,977 | | |\n| 44 | Total liabilities and shareholders' equity | $ | 24,683 | | $ | 23,255 |\n| 45 | | See notes to consolidated financial statements. | | | | |\n\nHAL 2023 FORM 10-K | 45\n\n\n\n\n\n","context_html_with_headers":"HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 43: \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>HALLIBURTON COMPANY Consolidated Statements of Operations<\/td><\/tr>
<\/td><\/td>Year Ended December 31<\/td><\/tr>
Millions of dollars and shares except per share data<\/td>2023<\/td>2022<\/td>2021<\/td><\/tr>
Revenue:<\/td><\/td><\/td><\/td><\/tr>
Services<\/td>$<\/td>16,483 <\/td><\/td>$<\/td>14,749 <\/td><\/td>$<\/td>10,989 <\/td><\/td><\/tr>
Product sales<\/td>6,535 <\/td><\/td>5,548 <\/td><\/td>4,306 <\/td><\/td><\/tr>
Total revenue<\/td>23,018 <\/td><\/td>20,297 <\/td><\/td>15,295 <\/td><\/td><\/tr>
Operating costs and expenses:<\/td><\/td><\/td><\/td><\/tr>
Cost of services<\/td>13,402 <\/td><\/td>12,381 <\/td><\/td>9,745 <\/td><\/td><\/tr>
Cost of sales<\/td>5,256 <\/td><\/td>4,603 <\/td><\/td>3,534 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
General and administrative<\/td>226 <\/td><\/td>240 <\/td><\/td>204 <\/td><\/td><\/tr>
SAP S4 upgrade expense<\/td>51 <\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Impairments and other charges<\/td>- <\/td><\/td>366 <\/td><\/td>12 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating costs and expenses<\/td>18,935 <\/td><\/td>17,590 <\/td><\/td>13,495 <\/td><\/td><\/tr>
Operating income<\/td>4,083 <\/td><\/td>2,707 <\/td><\/td>1,800 <\/td><\/td><\/tr>
Interest expense, net of interest income of $81, $29, and $9<\/td>(395)<\/td><\/td>(463)<\/td><\/td>(520)<\/td><\/td><\/tr>
Loss on Blue Chip Swap transactions<\/td>(110)<\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Argentina currency impact<\/td>(131)<\/td><\/td>(30)<\/td><\/td>6 <\/td><\/td><\/tr>
Loss on early extinguishment of debt<\/td>- <\/td><\/td>(42)<\/td><\/td>- <\/td><\/td><\/tr>
Other, net<\/td>(84)<\/td><\/td>(62)<\/td><\/td>(34)<\/td><\/td><\/tr>
Income before income taxes<\/td>3,363 <\/td><\/td>2,110 <\/td><\/td>1,252 <\/td><\/td><\/tr>
Income tax benefit (provision)<\/td>(701)<\/td><\/td>(515)<\/td><\/td>216 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,662 <\/td><\/td>$<\/td>1,595 <\/td><\/td>$<\/td>1,468 <\/td><\/td><\/tr>
Net income attributable to noncontrolling interest <\/td>(24)<\/td><\/td>(23)<\/td><\/td>(11)<\/td><\/td><\/tr>
Net income attributable to company<\/td>$<\/td>2,638 <\/td><\/td>$<\/td>1,572 <\/td><\/td>$<\/td>1,457 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
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<\/td><\/td><\/td><\/td><\/td><\/tr>
Basic net income per share<\/td>$<\/td>2.93 <\/td><\/td>$<\/td>1.74 <\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Diluted net income per share<\/td>$<\/td>2.92 <\/td><\/td>$<\/td>1.73 <\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
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<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Basic weighted average common shares outstanding<\/td>899 <\/td><\/td>904 <\/td><\/td>892 <\/td><\/td><\/tr>
Diluted weighted average common shares outstanding<\/td>902 <\/td><\/td>908 <\/td><\/td>892 <\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 43\n\n\n\n\n\n, HALLIBURTON CO 10-K form for the fiscal year ended 2023-12-31, page 45: \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
HALLIBURTON COMPANY Consolidated Balance Sheets<\/td><\/td><\/tr>
<\/td><\/td>December 31<\/td><\/td><\/tr>
Millions of dollars and shares except per share data<\/td>2023<\/td>2022<\/td><\/td><\/tr>
Assets<\/td><\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and equivalents<\/td>$<\/td>2,264 <\/td><\/td>$<\/td>2,346 <\/td><\/td><\/td><\/tr>
Receivables (net of allowances for credit losses of $742 and $731)<\/td>4,860 <\/td><\/td>4,627 <\/td><\/td><\/td><\/tr>
Inventories<\/td>3,226 <\/td><\/td>2,923 <\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td>1,193 <\/td><\/td>1,056 <\/td><\/td><\/td><\/tr>
Total current assets<\/td>11,543 <\/td><\/td>10,952 <\/td><\/td><\/td><\/tr>
Property, plant, and equipment (net of accumulated depreciation of $12,064 and $11,660)<\/td>4,900 <\/td><\/td>4,348 <\/td><\/td><\/td><\/tr>
Goodwill<\/td>2,850 <\/td><\/td>2,829 <\/td><\/td><\/td><\/tr>
Deferred income taxes<\/td>2,505 <\/td><\/td>2,636 <\/td><\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>1,088 <\/td><\/td>913 <\/td><\/td><\/td><\/tr>
Other assets<\/td>1,797 <\/td><\/td>1,577 <\/td><\/td><\/td><\/tr>
Total assets<\/td>$<\/td>24,683 <\/td><\/td>$<\/td>23,255 <\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>3,147 <\/td><\/td>$<\/td>3,121 <\/td><\/td><\/td><\/tr>
Accrued employee compensation and benefits<\/td>689 <\/td><\/td>634 <\/td><\/td><\/td><\/tr>
Income taxes payable<\/td>390 <\/td><\/td>294 <\/td><\/td><\/td><\/tr>
Taxes other than income<\/td>370 <\/td><\/td>349 <\/td><\/td><\/td><\/tr>
Current portion of operating lease liabilities <\/td>262 <\/td><\/td>224 <\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other current liabilities<\/td>750 <\/td><\/td>723 <\/td><\/td><\/td><\/tr>
Total current liabilities<\/td>5,608 <\/td><\/td>5,345 <\/td><\/td><\/td><\/tr>
Long-term debt<\/td>7,636 <\/td><\/td>7,928 <\/td><\/td><\/td><\/tr>
Operating lease liabilities<\/td>911 <\/td><\/td>791 <\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>408 <\/td><\/td>408 <\/td><\/td><\/td><\/tr>
Other liabilities<\/td>687 <\/td><\/td>806 <\/td><\/td><\/td><\/tr>
Total liabilities<\/td>15,250 <\/td><\/td>15,278 <\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $2.50 per share (authorized 2,000 shares, issued 1,065 and 1,066 shares)<\/td>2,663 <\/td><\/td>2,664 <\/td><\/td><\/td><\/tr>
Paid-in capital in excess of par value<\/td>63 <\/td><\/td>50 <\/td><\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(331)<\/td><\/td>(230)<\/td><\/td><\/td><\/tr>
Retained earnings<\/td>12,536 <\/td><\/td>10,572 <\/td><\/td><\/td><\/tr>
Treasury stock, at cost (176 and 164 shares)<\/td>(5,540)<\/td><\/td>(5,108)<\/td><\/td><\/td><\/tr>
Company shareholders' equity<\/td>9,391 <\/td><\/td>7,948 <\/td><\/td><\/td><\/tr>
Noncontrolling interest in consolidated subsidiaries<\/td>42 <\/td><\/td>29 <\/td><\/td><\/td><\/tr>
Total shareholders' equity<\/td>9,433 <\/td><\/td>7,977 <\/td><\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>24,683 <\/td><\/td>$<\/td>23,255 <\/td><\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 45\n\n\n\n\n\n","context_html_without_headers":"\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>HALLIBURTON COMPANY Consolidated Statements of Operations<\/td><\/tr>
<\/td><\/td>Year Ended December 31<\/td><\/tr>
Millions of dollars and shares except per share data<\/td>2023<\/td>2022<\/td>2021<\/td><\/tr>
Revenue:<\/td><\/td><\/td><\/td><\/tr>
Services<\/td>$<\/td>16,483 <\/td><\/td>$<\/td>14,749 <\/td><\/td>$<\/td>10,989 <\/td><\/td><\/tr>
Product sales<\/td>6,535 <\/td><\/td>5,548 <\/td><\/td>4,306 <\/td><\/td><\/tr>
Total revenue<\/td>23,018 <\/td><\/td>20,297 <\/td><\/td>15,295 <\/td><\/td><\/tr>
Operating costs and expenses:<\/td><\/td><\/td><\/td><\/tr>
Cost of services<\/td>13,402 <\/td><\/td>12,381 <\/td><\/td>9,745 <\/td><\/td><\/tr>
Cost of sales<\/td>5,256 <\/td><\/td>4,603 <\/td><\/td>3,534 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
General and administrative<\/td>226 <\/td><\/td>240 <\/td><\/td>204 <\/td><\/td><\/tr>
SAP S4 upgrade expense<\/td>51 <\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Impairments and other charges<\/td>- <\/td><\/td>366 <\/td><\/td>12 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating costs and expenses<\/td>18,935 <\/td><\/td>17,590 <\/td><\/td>13,495 <\/td><\/td><\/tr>
Operating income<\/td>4,083 <\/td><\/td>2,707 <\/td><\/td>1,800 <\/td><\/td><\/tr>
Interest expense, net of interest income of $81, $29, and $9<\/td>(395)<\/td><\/td>(463)<\/td><\/td>(520)<\/td><\/td><\/tr>
Loss on Blue Chip Swap transactions<\/td>(110)<\/td><\/td>- <\/td><\/td>- <\/td><\/td><\/tr>
Argentina currency impact<\/td>(131)<\/td><\/td>(30)<\/td><\/td>6 <\/td><\/td><\/tr>
Loss on early extinguishment of debt<\/td>- <\/td><\/td>(42)<\/td><\/td>- <\/td><\/td><\/tr>
Other, net<\/td>(84)<\/td><\/td>(62)<\/td><\/td>(34)<\/td><\/td><\/tr>
Income before income taxes<\/td>3,363 <\/td><\/td>2,110 <\/td><\/td>1,252 <\/td><\/td><\/tr>
Income tax benefit (provision)<\/td>(701)<\/td><\/td>(515)<\/td><\/td>216 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,662 <\/td><\/td>$<\/td>1,595 <\/td><\/td>$<\/td>1,468 <\/td><\/td><\/tr>
Net income attributable to noncontrolling interest <\/td>(24)<\/td><\/td>(23)<\/td><\/td>(11)<\/td><\/td><\/tr>
Net income attributable to company<\/td>$<\/td>2,638 <\/td><\/td>$<\/td>1,572 <\/td><\/td>$<\/td>1,457 <\/td><\/td><\/tr>
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<\/td><\/td><\/td><\/td><\/td><\/tr>
Basic net income per share<\/td>$<\/td>2.93 <\/td><\/td>$<\/td>1.74 <\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Diluted net income per share<\/td>$<\/td>2.92 <\/td><\/td>$<\/td>1.73 <\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
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<\/td><\/td><\/td><\/td><\/tr>
Basic weighted average common shares outstanding<\/td>899 <\/td><\/td>904 <\/td><\/td>892 <\/td><\/td><\/tr>
Diluted weighted average common shares outstanding<\/td>902 <\/td><\/td>908 <\/td><\/td>892 <\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 43\n\n\n\n\n\n, \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
HALLIBURTON COMPANY Consolidated Balance Sheets<\/td><\/td><\/tr>
<\/td><\/td>December 31<\/td><\/td><\/tr>
Millions of dollars and shares except per share data<\/td>2023<\/td>2022<\/td><\/td><\/tr>
Assets<\/td><\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and equivalents<\/td>$<\/td>2,264 <\/td><\/td>$<\/td>2,346 <\/td><\/td><\/td><\/tr>
Receivables (net of allowances for credit losses of $742 and $731)<\/td>4,860 <\/td><\/td>4,627 <\/td><\/td><\/td><\/tr>
Inventories<\/td>3,226 <\/td><\/td>2,923 <\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td>1,193 <\/td><\/td>1,056 <\/td><\/td><\/td><\/tr>
Total current assets<\/td>11,543 <\/td><\/td>10,952 <\/td><\/td><\/td><\/tr>
Property, plant, and equipment (net of accumulated depreciation of $12,064 and $11,660)<\/td>4,900 <\/td><\/td>4,348 <\/td><\/td><\/td><\/tr>
Goodwill<\/td>2,850 <\/td><\/td>2,829 <\/td><\/td><\/td><\/tr>
Deferred income taxes<\/td>2,505 <\/td><\/td>2,636 <\/td><\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>1,088 <\/td><\/td>913 <\/td><\/td><\/td><\/tr>
Other assets<\/td>1,797 <\/td><\/td>1,577 <\/td><\/td><\/td><\/tr>
Total assets<\/td>$<\/td>24,683 <\/td><\/td>$<\/td>23,255 <\/td><\/td><\/td><\/tr>
Liabilities and Shareholders' Equity<\/td><\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>3,147 <\/td><\/td>$<\/td>3,121 <\/td><\/td><\/td><\/tr>
Accrued employee compensation and benefits<\/td>689 <\/td><\/td>634 <\/td><\/td><\/td><\/tr>
Income taxes payable<\/td>390 <\/td><\/td>294 <\/td><\/td><\/td><\/tr>
Taxes other than income<\/td>370 <\/td><\/td>349 <\/td><\/td><\/td><\/tr>
Current portion of operating lease liabilities <\/td>262 <\/td><\/td>224 <\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other current liabilities<\/td>750 <\/td><\/td>723 <\/td><\/td><\/td><\/tr>
Total current liabilities<\/td>5,608 <\/td><\/td>5,345 <\/td><\/td><\/td><\/tr>
Long-term debt<\/td>7,636 <\/td><\/td>7,928 <\/td><\/td><\/td><\/tr>
Operating lease liabilities<\/td>911 <\/td><\/td>791 <\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>408 <\/td><\/td>408 <\/td><\/td><\/td><\/tr>
Other liabilities<\/td>687 <\/td><\/td>806 <\/td><\/td><\/td><\/tr>
Total liabilities<\/td>15,250 <\/td><\/td>15,278 <\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $2.50 per share (authorized 2,000 shares, issued 1,065 and 1,066 shares)<\/td>2,663 <\/td><\/td>2,664 <\/td><\/td><\/td><\/tr>
Paid-in capital in excess of par value<\/td>63 <\/td><\/td>50 <\/td><\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(331)<\/td><\/td>(230)<\/td><\/td><\/td><\/tr>
Retained earnings<\/td>12,536 <\/td><\/td>10,572 <\/td><\/td><\/td><\/tr>
Treasury stock, at cost (176 and 164 shares)<\/td>(5,540)<\/td><\/td>(5,108)<\/td><\/td><\/td><\/tr>
Company shareholders' equity<\/td>9,391 <\/td><\/td>7,948 <\/td><\/td><\/td><\/tr>
Noncontrolling interest in consolidated subsidiaries<\/td>42 <\/td><\/td>29 <\/td><\/td><\/td><\/tr>
Total shareholders' equity<\/td>9,433 <\/td><\/td>7,977 <\/td><\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>24,683 <\/td><\/td>$<\/td>23,255 <\/td><\/td><\/td><\/tr>
<\/td>See notes to consolidated financial statements.<\/td><\/td><\/td><\/td><\/tr><\/table>\nHAL 2023 FORM 10-K | 45\n\n\n\n\n\n"} +{"QID":"q_Ra068","Question":"How does Discover\u2019s Allowance for Loan Losses to Total Loans Ratio in 2023 compare to previous years?","ground_truth_answer":"To analyze Discover\u2019s Allowance for Loan Losses to Total Loans Ratio, we compare the ratio for 2023 with previous years:\n2023: Allowance for Loan Losses = $9.283 billion, Total Loans = $128.409 billion, Ratio =7.2% \n2022: Allowance for Loan Losses = $7.374 billion, Total Loans = $112.120 billion, Ratio = 6.6%\nAs per the management, The build in the allowance for credit losses over the years, was primarily driven by loan growth, increasing delinquencies, and macroeconomic variables impacting household cash flows.","question_type":"Ratio","page_number":"85, 104","accession_number":"0001393612-24-000010","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:---------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | Assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 11,685 | | | $ | 8,856 |\n| 5 | Restricted cash | 43 | | | 41 | | |\n| 7 | Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively) | 13,655 | | | 12,208 | | |\n| 8 | Loan receivables | | | | | | |\n| 9 | Loan receivables | 128,409 | | | 112,120 | | |\n| 10 | Allowance for credit losses | (9,283) | | | (7,374) | | |\n| 11 | Net loan receivables | 119,126 | | | 104,746 | | |\n| 12 | Premises and equipment, net | 1,091 | | | 1,003 | | |\n| 13 | Goodwill | 255 | | | 255 | | |\n| 15 | Other assets | 5,667 | | | 4,597 | | |\n| 16 | Total assets | $ | 151,522 | | | $ | 131,706 |\n| 17 | Liabilities and Stockholders' Equity | | | | | | |\n| 18 | Liabilities | | | | | | |\n| 19 | Deposits | | | | | | |\n| 20 | Interest-bearing deposit accounts | $ | 107,493 | | | $ | 90,151 |\n| 21 | Non-interest-bearing deposit accounts | 1,438 | | | 1,485 | | |\n| 22 | Total deposits | 108,931 | | | 91,636 | | |\n| 23 | Short-term borrowings | 750 | | | - | | |\n| 24 | Long-term borrowings | 20,581 | | | 20,108 | | |\n| 25 | Accrued expenses and other liabilities | 6,432 | | | 5,618 | | |\n| 26 | Total liabilities | 136,694 | | | 117,362 | | |\n| 27 | Commitments, contingencies and guarantees (Notes 15, 18 and 19) | | | | | | |\n| 28 | Stockholders' Equity | | | | | | |\n| 29 | Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively | 6 | | | 6 | | |\n| 30 | Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively | 1,056 | | | 1,056 | | |\n| 31 | Additional paid-in capital | 4,553 | | | 4,468 | | |\n| 32 | Retained earnings | 30,448 | | | 28,207 | | |\n| 33 | Accumulated other comprehensive loss | (225) | | | (339) | | |\n| 34 | Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively | (21,010) | | | (19,054) | | |\n| 35 | Total stockholders' equity | 14,828 | | | 14,344 | | |\n| 36 | Total liabilities and stockholders' equity | $ | 151,522 | | | $ | 131,706 |\nThe table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n| | | | | | | |\n|---:|:----------------------------------------------------------------------|:-------------|:--------|:-----|:---|:--------|\n| 1 | | December 31, | | | | |\n| 2 | | 2023 | | 2022 | | |\n| 3 | Assets | | | | | |\n| 4 | Restricted cash | $ | 43 | | $ | 41 |\n| 5 | Loan receivables | $ | 30,590 | | $ | 25,937 |\n| 6 | Allowance for credit losses allocated to securitized loan receivables | $ | (1,347) | | $ | (1,152) |\n| 7 | Other assets | $ | 3 | | $ | 3 |\n| 8 | Liabilities | | | | | |\n| 9 | Short- and long-term borrowings | $ | 11,743 | | $ | 10,259 |\n| 10 | Accrued expenses and other liabilities | $ | 19 | | $ | 14 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 104: \nAllowance for Credit Losses\n\nThe following tables provide changes in the Company's allowance for credit losses (dollars in millions):\n\n| | | | | | | | | | | | | | | |\n|---:|:-------------------------------------------------|:-------------------------------------|:------|:---------------------|:------|:---------------|:----|:------------|:------------|:----|:--------|:---|:---|:------|\n| 1 | | For the Year Ended December 31, 2023 | | | | | | | | | | | | |\n| 2 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 3 | Balance at December 31, 2022 | $ | 5,883 | | | $ | 839 | | $ | 595 | $ | 57 | $ | 7,374 |\n| 4 | Cumulative effect of ASU No. 2022-02 adoption(1) | (66) | | | - | | | (2) | | - | (68) | | | |\n| 5 | Balance at January 1, 2023 | 5,817 | | | 839 | | | 593 | | 57 | 7,306 | | | |\n| 6 | Additions | | | | | | | | | | | | | |\n| 7 | Provision for credit losses(2) | 5,476 | | | 152 | | | 363 | | 28 | 6,019 | | | |\n| 8 | Deductions | | | | | | | | | | | | | |\n| 9 | Charge-offs | (4,481) | | | (155) | | | (290) | | (1) | (4,927) | | | |\n| 10 | Recoveries | 807 | | | 22 | | | 56 | | - | 885 | | | |\n| 11 | Net charge-offs | (3,674) | | | (133) | | | (234) | | (1) | (4,042) | | | |\n| 13 | Balance at December 31, 2023 | $ | 7,619 | | | $ | 858 | | $ | 722 | $ | 84 | $ | 9,283 |\n| 15 | | For the Year Ended December 31, 2022 | | | | | | | | | | | | |\n| 16 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 17 | Balance at December 31, 2021 | $ | 5,273 | | | $ | 843 | | $ | 662 | $ | 44 | $ | 6,822 |\n| 18 | Additions | | | | | | | | | | | | | |\n| 19 | Provision for credit losses(2) | 2,233 | | | 99 | | | 24 | | 13 | 2,369 | | | |\n| 20 | Deductions | | | | | | | | | | | | | |\n| 21 | Charge-offs | (2,417) | | | (126) | | | (159) | | - | (2,702) | | | |\n| 22 | Recoveries | 794 | | | 23 | | | 68 | | - | 885 | | | |\n| 23 | Net charge-offs | (1,623) | | | (103) | | | (91) | | - | (1,817) | | | |\n| 25 | Balance at December 31, 2022 | $ | 5,883 | | | $ | 839 | | $ | 595 | $ | 57 | $ | 7,374 |\n| 27 | | For the Year Ended December 31, 2021 | | | | | | | | | | | | |\n| 28 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 29 | Balance at December 31, 2020 | $ | 6,491 | | | $ | 840 | | $ | 857 | $ | 38 | $ | 8,226 |\n| 32 | Additions | | | | | | | | | | | | | |\n| 33 | Provision for credit losses(2) | 229 | | | 67 | | | (75) | | 6 | 227 | | | |\n| 34 | Deductions | | | | | | | | | | | | | |\n| 35 | Charge-offs | (2,255) | | | (89) | | | (190) | | - | (2,534) | | | |\n| 36 | Recoveries | 808 | | | 25 | | | 70 | | - | 903 | | | |\n| 37 | Net charge-offs | (1,447) | | | (64) | | | (120) | | - | (1,631) | | | |\n| 39 | Balance at December 31, 2021 | $ | 5,273 | | | $ | 843 | | $ | 662 | $ | 44 | $ | 6,822 |\n\n(1)Represents the adjustment to the allowance for credit losses as a result of the adoption of ASU No. 2020-02 on January 1, 2023, which eliminated the requirement to apply discounted cash flow measurements for certain troubled debt restructurings.\n(2)Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in the Company's consolidated statements of financial condition.\nThe allowance for credit losses was approximately $9.3 billion at December 31, 2023, which reflects a $1.9 billion build from the amount of the allowance for credit losses at December 31, 2022. The build in the allowance for credit losses between December 31, 2023 and December 31, 2022, was primarily driven by loan growth, increasing delinquencies, and macroeconomic variables impacting household cash flows.\n-104-\n\n\n\n\n","context_markdown_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:-----|:---------|:---|:--------|\n| 1 | | December 31, | | | | | |\n| 2 | | 2023 | | 2022 | | | |\n| 3 | Assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 11,685 | | | $ | 8,856 |\n| 5 | Restricted cash | 43 | | | 41 | | |\n| 7 | Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively) | 13,655 | | | 12,208 | | |\n| 8 | Loan receivables | | | | | | |\n| 9 | Loan receivables | 128,409 | | | 112,120 | | |\n| 10 | Allowance for credit losses | (9,283) | | | (7,374) | | |\n| 11 | Net loan receivables | 119,126 | | | 104,746 | | |\n| 12 | Premises and equipment, net | 1,091 | | | 1,003 | | |\n| 13 | Goodwill | 255 | | | 255 | | |\n| 15 | Other assets | 5,667 | | | 4,597 | | |\n| 16 | Total assets | $ | 151,522 | | | $ | 131,706 |\n| 17 | Liabilities and Stockholders' Equity | | | | | | |\n| 18 | Liabilities | | | | | | |\n| 19 | Deposits | | | | | | |\n| 20 | Interest-bearing deposit accounts | $ | 107,493 | | | $ | 90,151 |\n| 21 | Non-interest-bearing deposit accounts | 1,438 | | | 1,485 | | |\n| 22 | Total deposits | 108,931 | | | 91,636 | | |\n| 23 | Short-term borrowings | 750 | | | - | | |\n| 24 | Long-term borrowings | 20,581 | | | 20,108 | | |\n| 25 | Accrued expenses and other liabilities | 6,432 | | | 5,618 | | |\n| 26 | Total liabilities | 136,694 | | | 117,362 | | |\n| 27 | Commitments, contingencies and guarantees (Notes 15, 18 and 19) | | | | | | |\n| 28 | Stockholders' Equity | | | | | | |\n| 29 | Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively | 6 | | | 6 | | |\n| 30 | Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively | 1,056 | | | 1,056 | | |\n| 31 | Additional paid-in capital | 4,553 | | | 4,468 | | |\n| 32 | Retained earnings | 30,448 | | | 28,207 | | |\n| 33 | Accumulated other comprehensive loss | (225) | | | (339) | | |\n| 34 | Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively | (21,010) | | | (19,054) | | |\n| 35 | Total stockholders' equity | 14,828 | | | 14,344 | | |\n| 36 | Total liabilities and stockholders' equity | $ | 151,522 | | | $ | 131,706 |\nThe table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n| | | | | | | |\n|---:|:----------------------------------------------------------------------|:-------------|:--------|:-----|:---|:--------|\n| 1 | | December 31, | | | | |\n| 2 | | 2023 | | 2022 | | |\n| 3 | Assets | | | | | |\n| 4 | Restricted cash | $ | 43 | | $ | 41 |\n| 5 | Loan receivables | $ | 30,590 | | $ | 25,937 |\n| 6 | Allowance for credit losses allocated to securitized loan receivables | $ | (1,347) | | $ | (1,152) |\n| 7 | Other assets | $ | 3 | | $ | 3 |\n| 8 | Liabilities | | | | | |\n| 9 | Short- and long-term borrowings | $ | 11,743 | | $ | 10,259 |\n| 10 | Accrued expenses and other liabilities | $ | 19 | | $ | 14 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n, \nAllowance for Credit Losses\n\nThe following tables provide changes in the Company's allowance for credit losses (dollars in millions):\n\n| | | | | | | | | | | | | | | |\n|---:|:-------------------------------------------------|:-------------------------------------|:------|:---------------------|:------|:---------------|:----|:------------|:------------|:----|:--------|:---|:---|:------|\n| 1 | | For the Year Ended December 31, 2023 | | | | | | | | | | | | |\n| 2 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 3 | Balance at December 31, 2022 | $ | 5,883 | | | $ | 839 | | $ | 595 | $ | 57 | $ | 7,374 |\n| 4 | Cumulative effect of ASU No. 2022-02 adoption(1) | (66) | | | - | | | (2) | | - | (68) | | | |\n| 5 | Balance at January 1, 2023 | 5,817 | | | 839 | | | 593 | | 57 | 7,306 | | | |\n| 6 | Additions | | | | | | | | | | | | | |\n| 7 | Provision for credit losses(2) | 5,476 | | | 152 | | | 363 | | 28 | 6,019 | | | |\n| 8 | Deductions | | | | | | | | | | | | | |\n| 9 | Charge-offs | (4,481) | | | (155) | | | (290) | | (1) | (4,927) | | | |\n| 10 | Recoveries | 807 | | | 22 | | | 56 | | - | 885 | | | |\n| 11 | Net charge-offs | (3,674) | | | (133) | | | (234) | | (1) | (4,042) | | | |\n| 13 | Balance at December 31, 2023 | $ | 7,619 | | | $ | 858 | | $ | 722 | $ | 84 | $ | 9,283 |\n| 15 | | For the Year Ended December 31, 2022 | | | | | | | | | | | | |\n| 16 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 17 | Balance at December 31, 2021 | $ | 5,273 | | | $ | 843 | | $ | 662 | $ | 44 | $ | 6,822 |\n| 18 | Additions | | | | | | | | | | | | | |\n| 19 | Provision for credit losses(2) | 2,233 | | | 99 | | | 24 | | 13 | 2,369 | | | |\n| 20 | Deductions | | | | | | | | | | | | | |\n| 21 | Charge-offs | (2,417) | | | (126) | | | (159) | | - | (2,702) | | | |\n| 22 | Recoveries | 794 | | | 23 | | | 68 | | - | 885 | | | |\n| 23 | Net charge-offs | (1,623) | | | (103) | | | (91) | | - | (1,817) | | | |\n| 25 | Balance at December 31, 2022 | $ | 5,883 | | | $ | 839 | | $ | 595 | $ | 57 | $ | 7,374 |\n| 27 | | For the Year Ended December 31, 2021 | | | | | | | | | | | | |\n| 28 | | Credit Card Loans | | Private StudentLoans | | Personal Loans | | Other Loans | Total Loans | | | | | |\n| 29 | Balance at December 31, 2020 | $ | 6,491 | | | $ | 840 | | $ | 857 | $ | 38 | $ | 8,226 |\n| 32 | Additions | | | | | | | | | | | | | |\n| 33 | Provision for credit losses(2) | 229 | | | 67 | | | (75) | | 6 | 227 | | | |\n| 34 | Deductions | | | | | | | | | | | | | |\n| 35 | Charge-offs | (2,255) | | | (89) | | | (190) | | - | (2,534) | | | |\n| 36 | Recoveries | 808 | | | 25 | | | 70 | | - | 903 | | | |\n| 37 | Net charge-offs | (1,447) | | | (64) | | | (120) | | - | (1,631) | | | |\n| 39 | Balance at December 31, 2021 | $ | 5,273 | | | $ | 843 | | $ | 662 | $ | 44 | $ | 6,822 |\n\n(1)Represents the adjustment to the allowance for credit losses as a result of the adoption of ASU No. 2020-02 on January 1, 2023, which eliminated the requirement to apply discounted cash flow measurements for certain troubled debt restructurings.\n(2)Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in the Company's consolidated statements of financial condition.\nThe allowance for credit losses was approximately $9.3 billion at December 31, 2023, which reflects a $1.9 billion build from the amount of the allowance for credit losses at December 31, 2022. The build in the allowance for credit losses between December 31, 2023 and December 31, 2022, was primarily driven by loan growth, increasing delinquencies, and macroeconomic variables impacting household cash flows.\n-104-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,685 <\/td><\/td><\/td>$<\/td>8,856 <\/td><\/td><\/tr>
Restricted cash<\/td>43 <\/td><\/td><\/td>41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively)<\/td>13,655 <\/td><\/td><\/td>12,208 <\/td><\/td><\/tr>
Loan receivables<\/td><\/td><\/td><\/td><\/tr>
Loan receivables<\/td>128,409 <\/td><\/td><\/td>112,120 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(9,283)<\/td><\/td><\/td>(7,374)<\/td><\/td><\/tr>
Net loan receivables<\/td>119,126 <\/td><\/td><\/td>104,746 <\/td><\/td><\/tr>
Premises and equipment, net<\/td>1,091 <\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Goodwill<\/td>255 <\/td><\/td><\/td>255 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>5,667 <\/td><\/td><\/td>4,597 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposit accounts<\/td>$<\/td>107,493 <\/td><\/td><\/td>$<\/td>90,151 <\/td><\/td><\/tr>
Non-interest-bearing deposit accounts<\/td>1,438 <\/td><\/td><\/td>1,485 <\/td><\/td><\/tr>
Total deposits<\/td>108,931 <\/td><\/td><\/td>91,636 <\/td><\/td><\/tr>
Short-term borrowings<\/td>750 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>20,581 <\/td><\/td><\/td>20,108 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>6,432 <\/td><\/td><\/td>5,618 <\/td><\/td><\/tr>
Total liabilities<\/td>136,694 <\/td><\/td><\/td>117,362 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees (Notes 15, 18 and 19)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively<\/td>6 <\/td><\/td><\/td>6 <\/td><\/td><\/tr>
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively<\/td>1,056 <\/td><\/td><\/td>1,056 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>4,553 <\/td><\/td><\/td>4,468 <\/td><\/td><\/tr>
Retained earnings<\/td>30,448 <\/td><\/td><\/td>28,207 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(225)<\/td><\/td><\/td>(339)<\/td><\/td><\/tr>
Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively<\/td>(21,010)<\/td><\/td><\/td>(19,054)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>14,828 <\/td><\/td><\/td>14,344 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>The table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Restricted cash<\/td>$<\/td>43 <\/td><\/td><\/td>$<\/td>41 <\/td><\/td><\/tr>
Loan receivables<\/td>$<\/td>30,590 <\/td><\/td><\/td>$<\/td>25,937 <\/td><\/td><\/tr>
Allowance for credit losses allocated to securitized loan receivables<\/td>$<\/td>(1,347)<\/td><\/td><\/td>$<\/td>(1,152)<\/td><\/td><\/tr>
Other assets<\/td>$<\/td>3 <\/td><\/td><\/td>$<\/td>3 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Short- and long-term borrowings<\/td>$<\/td>11,743 <\/td><\/td><\/td>$<\/td>10,259 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>$<\/td>19 <\/td><\/td><\/td>$<\/td>14 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 104: \nAllowance for Credit Losses\n\nThe following tables provide changes in the Company's allowance for credit losses (dollars in millions):\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2023<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2022<\/td>$<\/td>5,883 <\/td><\/td><\/td>$<\/td>839 <\/td><\/td><\/td>$<\/td>595 <\/td><\/td><\/td>$<\/td>57 <\/td><\/td><\/td>$<\/td>7,374 <\/td><\/td><\/tr>
Cumulative effect of ASU No. 2022-02 adoption(1)<\/td>(66)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2)<\/td><\/td><\/td>- <\/td><\/td><\/td>(68)<\/td><\/td><\/tr>
Balance at January 1, 2023<\/td>5,817 <\/td><\/td><\/td>839 <\/td><\/td><\/td>593 <\/td><\/td><\/td>57 <\/td><\/td><\/td>7,306 <\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>5,476 <\/td><\/td><\/td>152 <\/td><\/td><\/td>363 <\/td><\/td><\/td>28 <\/td><\/td><\/td>6,019 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(4,481)<\/td><\/td><\/td>(155)<\/td><\/td><\/td>(290)<\/td><\/td><\/td>(1)<\/td><\/td><\/td>(4,927)<\/td><\/td><\/tr>
Recoveries<\/td>807 <\/td><\/td><\/td>22 <\/td><\/td><\/td>56 <\/td><\/td><\/td>- <\/td><\/td><\/td>885 <\/td><\/td><\/tr>
Net charge-offs<\/td>(3,674)<\/td><\/td><\/td>(133)<\/td><\/td><\/td>(234)<\/td><\/td><\/td>(1)<\/td><\/td><\/td>(4,042)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2023<\/td>$<\/td>7,619 <\/td><\/td><\/td>$<\/td>858 <\/td><\/td><\/td>$<\/td>722 <\/td><\/td><\/td>$<\/td>84 <\/td><\/td><\/td>$<\/td>9,283 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2022<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2021<\/td>$<\/td>5,273 <\/td><\/td><\/td>$<\/td>843 <\/td><\/td><\/td>$<\/td>662 <\/td><\/td><\/td>$<\/td>44 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>2,233 <\/td><\/td><\/td>99 <\/td><\/td><\/td>24 <\/td><\/td><\/td>13 <\/td><\/td><\/td>2,369 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(2,417)<\/td><\/td><\/td>(126)<\/td><\/td><\/td>(159)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2,702)<\/td><\/td><\/tr>
Recoveries<\/td>794 <\/td><\/td><\/td>23 <\/td><\/td><\/td>68 <\/td><\/td><\/td>- <\/td><\/td><\/td>885 <\/td><\/td><\/tr>
Net charge-offs<\/td>(1,623)<\/td><\/td><\/td>(103)<\/td><\/td><\/td>(91)<\/td><\/td><\/td>- <\/td><\/td><\/td>(1,817)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2022<\/td>$<\/td>5,883 <\/td><\/td><\/td>$<\/td>839 <\/td><\/td><\/td>$<\/td>595 <\/td><\/td><\/td>$<\/td>57 <\/td><\/td><\/td>$<\/td>7,374 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2021<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2020<\/td>$<\/td>6,491 <\/td><\/td><\/td>$<\/td>840 <\/td><\/td><\/td>$<\/td>857 <\/td><\/td><\/td>$<\/td>38 <\/td><\/td><\/td>$<\/td>8,226 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>229 <\/td><\/td><\/td>67 <\/td><\/td><\/td>(75)<\/td><\/td><\/td>6 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(2,255)<\/td><\/td><\/td>(89)<\/td><\/td><\/td>(190)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2,534)<\/td><\/td><\/tr>
Recoveries<\/td>808 <\/td><\/td><\/td>25 <\/td><\/td><\/td>70 <\/td><\/td><\/td>- <\/td><\/td><\/td>903 <\/td><\/td><\/tr>
Net charge-offs<\/td>(1,447)<\/td><\/td><\/td>(64)<\/td><\/td><\/td>(120)<\/td><\/td><\/td>- <\/td><\/td><\/td>(1,631)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2021<\/td>$<\/td>5,273 <\/td><\/td><\/td>$<\/td>843 <\/td><\/td><\/td>$<\/td>662 <\/td><\/td><\/td>$<\/td>44 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\n(1)Represents the adjustment to the allowance for credit losses as a result of the adoption of ASU No. 2020-02 on January 1, 2023, which eliminated the requirement to apply discounted cash flow measurements for certain troubled debt restructurings.\n(2)Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in the Company's consolidated statements of financial condition.\nThe allowance for credit losses was approximately $9.3 billion at December 31, 2023, which reflects a $1.9 billion build from the amount of the allowance for credit losses at December 31, 2022. The build in the allowance for credit losses between December 31, 2023 and December 31, 2022, was primarily driven by loan growth, increasing delinquencies, and macroeconomic variables impacting household cash flows.\n-104-\n\n\n\n\n","context_html_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,685 <\/td><\/td><\/td>$<\/td>8,856 <\/td><\/td><\/tr>
Restricted cash<\/td>43 <\/td><\/td><\/td>41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively)<\/td>13,655 <\/td><\/td><\/td>12,208 <\/td><\/td><\/tr>
Loan receivables<\/td><\/td><\/td><\/td><\/tr>
Loan receivables<\/td>128,409 <\/td><\/td><\/td>112,120 <\/td><\/td><\/tr>
Allowance for credit losses<\/td>(9,283)<\/td><\/td><\/td>(7,374)<\/td><\/td><\/tr>
Net loan receivables<\/td>119,126 <\/td><\/td><\/td>104,746 <\/td><\/td><\/tr>
Premises and equipment, net<\/td>1,091 <\/td><\/td><\/td>1,003 <\/td><\/td><\/tr>
Goodwill<\/td>255 <\/td><\/td><\/td>255 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other assets<\/td>5,667 <\/td><\/td><\/td>4,597 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
Liabilities and Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td><\/td><\/td><\/td><\/tr>
Interest-bearing deposit accounts<\/td>$<\/td>107,493 <\/td><\/td><\/td>$<\/td>90,151 <\/td><\/td><\/tr>
Non-interest-bearing deposit accounts<\/td>1,438 <\/td><\/td><\/td>1,485 <\/td><\/td><\/tr>
Total deposits<\/td>108,931 <\/td><\/td><\/td>91,636 <\/td><\/td><\/tr>
Short-term borrowings<\/td>750 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>20,581 <\/td><\/td><\/td>20,108 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>6,432 <\/td><\/td><\/td>5,618 <\/td><\/td><\/tr>
Total liabilities<\/td>136,694 <\/td><\/td><\/td>117,362 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees (Notes 15, 18 and 19)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' Equity<\/td><\/td><\/td><\/td><\/tr>
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively<\/td>6 <\/td><\/td><\/td>6 <\/td><\/td><\/tr>
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively<\/td>1,056 <\/td><\/td><\/td>1,056 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>4,553 <\/td><\/td><\/td>4,468 <\/td><\/td><\/tr>
Retained earnings<\/td>30,448 <\/td><\/td><\/td>28,207 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(225)<\/td><\/td><\/td>(339)<\/td><\/td><\/tr>
Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively<\/td>(21,010)<\/td><\/td><\/td>(19,054)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>14,828 <\/td><\/td><\/td>14,344 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>151,522 <\/td><\/td><\/td>$<\/td>131,706 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>The table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services' consolidated variable interest entities (\"VIEs\"), which are included in the consolidated statements of financial condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of Discover Financial Services.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Restricted cash<\/td>$<\/td>43 <\/td><\/td><\/td>$<\/td>41 <\/td><\/td><\/tr>
Loan receivables<\/td>$<\/td>30,590 <\/td><\/td><\/td>$<\/td>25,937 <\/td><\/td><\/tr>
Allowance for credit losses allocated to securitized loan receivables<\/td>$<\/td>(1,347)<\/td><\/td><\/td>$<\/td>(1,152)<\/td><\/td><\/tr>
Other assets<\/td>$<\/td>3 <\/td><\/td><\/td>$<\/td>3 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Short- and long-term borrowings<\/td>$<\/td>11,743 <\/td><\/td><\/td>$<\/td>10,259 <\/td><\/td><\/tr>
Accrued expenses and other liabilities<\/td>$<\/td>19 <\/td><\/td><\/td>$<\/td>14 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-85-\n\n\n\n\n, \nAllowance for Credit Losses\n\nThe following tables provide changes in the Company's allowance for credit losses (dollars in millions):\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2023<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2022<\/td>$<\/td>5,883 <\/td><\/td><\/td>$<\/td>839 <\/td><\/td><\/td>$<\/td>595 <\/td><\/td><\/td>$<\/td>57 <\/td><\/td><\/td>$<\/td>7,374 <\/td><\/td><\/tr>
Cumulative effect of ASU No. 2022-02 adoption(1)<\/td>(66)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2)<\/td><\/td><\/td>- <\/td><\/td><\/td>(68)<\/td><\/td><\/tr>
Balance at January 1, 2023<\/td>5,817 <\/td><\/td><\/td>839 <\/td><\/td><\/td>593 <\/td><\/td><\/td>57 <\/td><\/td><\/td>7,306 <\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>5,476 <\/td><\/td><\/td>152 <\/td><\/td><\/td>363 <\/td><\/td><\/td>28 <\/td><\/td><\/td>6,019 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(4,481)<\/td><\/td><\/td>(155)<\/td><\/td><\/td>(290)<\/td><\/td><\/td>(1)<\/td><\/td><\/td>(4,927)<\/td><\/td><\/tr>
Recoveries<\/td>807 <\/td><\/td><\/td>22 <\/td><\/td><\/td>56 <\/td><\/td><\/td>- <\/td><\/td><\/td>885 <\/td><\/td><\/tr>
Net charge-offs<\/td>(3,674)<\/td><\/td><\/td>(133)<\/td><\/td><\/td>(234)<\/td><\/td><\/td>(1)<\/td><\/td><\/td>(4,042)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2023<\/td>$<\/td>7,619 <\/td><\/td><\/td>$<\/td>858 <\/td><\/td><\/td>$<\/td>722 <\/td><\/td><\/td>$<\/td>84 <\/td><\/td><\/td>$<\/td>9,283 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2022<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2021<\/td>$<\/td>5,273 <\/td><\/td><\/td>$<\/td>843 <\/td><\/td><\/td>$<\/td>662 <\/td><\/td><\/td>$<\/td>44 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>2,233 <\/td><\/td><\/td>99 <\/td><\/td><\/td>24 <\/td><\/td><\/td>13 <\/td><\/td><\/td>2,369 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(2,417)<\/td><\/td><\/td>(126)<\/td><\/td><\/td>(159)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2,702)<\/td><\/td><\/tr>
Recoveries<\/td>794 <\/td><\/td><\/td>23 <\/td><\/td><\/td>68 <\/td><\/td><\/td>- <\/td><\/td><\/td>885 <\/td><\/td><\/tr>
Net charge-offs<\/td>(1,623)<\/td><\/td><\/td>(103)<\/td><\/td><\/td>(91)<\/td><\/td><\/td>- <\/td><\/td><\/td>(1,817)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2022<\/td>$<\/td>5,883 <\/td><\/td><\/td>$<\/td>839 <\/td><\/td><\/td>$<\/td>595 <\/td><\/td><\/td>$<\/td>57 <\/td><\/td><\/td>$<\/td>7,374 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Year Ended December 31, 2021<\/td><\/tr>
<\/td>Credit Card Loans<\/td><\/td>Private StudentLoans<\/td><\/td>Personal Loans<\/td><\/td>Other Loans<\/td><\/td>Total Loans<\/td><\/tr>
Balance at December 31, 2020<\/td>$<\/td>6,491 <\/td><\/td><\/td>$<\/td>840 <\/td><\/td><\/td>$<\/td>857 <\/td><\/td><\/td>$<\/td>38 <\/td><\/td><\/td>$<\/td>8,226 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Additions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses(2)<\/td>229 <\/td><\/td><\/td>67 <\/td><\/td><\/td>(75)<\/td><\/td><\/td>6 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
Deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Charge-offs<\/td>(2,255)<\/td><\/td><\/td>(89)<\/td><\/td><\/td>(190)<\/td><\/td><\/td>- <\/td><\/td><\/td>(2,534)<\/td><\/td><\/tr>
Recoveries<\/td>808 <\/td><\/td><\/td>25 <\/td><\/td><\/td>70 <\/td><\/td><\/td>- <\/td><\/td><\/td>903 <\/td><\/td><\/tr>
Net charge-offs<\/td>(1,447)<\/td><\/td><\/td>(64)<\/td><\/td><\/td>(120)<\/td><\/td><\/td>- <\/td><\/td><\/td>(1,631)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Balance at December 31, 2021<\/td>$<\/td>5,273 <\/td><\/td><\/td>$<\/td>843 <\/td><\/td><\/td>$<\/td>662 <\/td><\/td><\/td>$<\/td>44 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\n(1)Represents the adjustment to the allowance for credit losses as a result of the adoption of ASU No. 2020-02 on January 1, 2023, which eliminated the requirement to apply discounted cash flow measurements for certain troubled debt restructurings.\n(2)Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in the Company's consolidated statements of financial condition.\nThe allowance for credit losses was approximately $9.3 billion at December 31, 2023, which reflects a $1.9 billion build from the amount of the allowance for credit losses at December 31, 2022. The build in the allowance for credit losses between December 31, 2023 and December 31, 2022, was primarily driven by loan growth, increasing delinquencies, and macroeconomic variables impacting household cash flows.\n-104-\n\n\n\n\n"} +{"QID":"q_Ra069","Question":"How has the interest coverage ratio changed over time?","ground_truth_answer":"The interest coverage ratio measures a company\u2019s ability to cover its interest expenses with its earnings before interest and taxes. It is calculated as the ratio of Earnings before interest and taxes (EBIT) to Interest Expense. \nThe ratio for the period provided can be calculated as follows:\n\n2023: EBIT = 3,826+4,746 = 8,572 million\nInterest Expense = 4,726 million\nInterest Coverage Ratio = 1.80 times\n\n2022: EBIT = 5,718+1,865 = 8,572 million\nInterest Expense = 1,865 million\nInterest Coverage Ratio = 4.07 times\n\n2021: EBIT = 7,028+1,134 = 8,572 million\nInterest Expense = 1,134 million\nInterest Coverage Ratio = 7.19 times\n\nThe declining trend in the interest coverage ratio from 2021 to 2023 points to increasing difficulty in meeting interest obligations.","question_type":"Ratio","page_number":86,"accession_number":"0001393612-24-000010","item":"Item 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 86: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)| | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Interest income | | | | | | | | | |\n| 4 | Credit card loans | $ | 14,438 | | | $ | 10,632 | | $ | 8,717 |\n| 5 | Other loans | 2,515 | | | 1,870 | | | 1,734 | | |\n| 6 | Investment securities | 449 | | | 179 | | | 182 | | |\n| 7 | Other interest income | 443 | | | 183 | | | 18 | | |\n| 8 | Total interest income | 17,845 | | | 12,864 | | | 10,651 | | |\n| 9 | Interest expense | | | | | | | | | |\n| 10 | Deposits | 3,886 | | | 1,257 | | | 661 | | |\n| 11 | Short-term borrowings | 5 | | | 2 | | | - | | |\n| 12 | Long-term borrowings | 855 | | | 606 | | | 473 | | |\n| 13 | Total interest expense | 4,746 | | | 1,865 | | | 1,134 | | |\n| 14 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | |\n| 15 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | |\n| 16 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | |\n| 17 | Other income | | | | | | | | | |\n| 18 | Discount and interchange revenue, net | 1,447 | | | 1,380 | | | 1,188 | | |\n| 19 | Protection products revenue | 172 | | | 172 | | | 165 | | |\n| 20 | Loan fee income | 763 | | | 632 | | | 464 | | |\n| 21 | Transaction processing revenue | 303 | | | 249 | | | 227 | | |\n| 22 | (Losses) gains on equity investments | (9) | | | (214) | | | 424 | | |\n| 23 | Other income | 85 | | | 75 | | | 66 | | |\n| 24 | Total other income | 2,761 | | | 2,294 | | | 2,534 | | |\n| 25 | Other expense | | | | | | | | | |\n| 26 | Employee compensation and benefits | 2,434 | | | 2,139 | | | 1,986 | | |\n| 27 | Marketing and business development | 1,164 | | | 1,035 | | | 810 | | |\n| 28 | Information processing and communications | 608 | | | 513 | | | 500 | | |\n| 29 | Professional fees | 1,041 | | | 871 | | | 797 | | |\n| 30 | Premises and equipment | 89 | | | 118 | | | 92 | | |\n| 31 | Other expense | 680 | | | 540 | | | 620 | | |\n| 32 | Total other expense | 6,016 | | | 5,216 | | | 4,805 | | |\n| 33 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | |\n| 34 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | |\n| 35 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 36 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 37 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 38 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_markdown_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)| | | | | | | | | | | |\n|---:|:------------------------------------------------------|:---------------------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:------|\n| 1 | | For the Years Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Interest income | | | | | | | | | |\n| 4 | Credit card loans | $ | 14,438 | | | $ | 10,632 | | $ | 8,717 |\n| 5 | Other loans | 2,515 | | | 1,870 | | | 1,734 | | |\n| 6 | Investment securities | 449 | | | 179 | | | 182 | | |\n| 7 | Other interest income | 443 | | | 183 | | | 18 | | |\n| 8 | Total interest income | 17,845 | | | 12,864 | | | 10,651 | | |\n| 9 | Interest expense | | | | | | | | | |\n| 10 | Deposits | 3,886 | | | 1,257 | | | 661 | | |\n| 11 | Short-term borrowings | 5 | | | 2 | | | - | | |\n| 12 | Long-term borrowings | 855 | | | 606 | | | 473 | | |\n| 13 | Total interest expense | 4,746 | | | 1,865 | | | 1,134 | | |\n| 14 | Net interest income | 13,099 | | | 10,999 | | | 9,517 | | |\n| 15 | Provision for credit losses | 6,018 | | | 2,359 | | | 218 | | |\n| 16 | Net interest income after provision for credit losses | 7,081 | | | 8,640 | | | 9,299 | | |\n| 17 | Other income | | | | | | | | | |\n| 18 | Discount and interchange revenue, net | 1,447 | | | 1,380 | | | 1,188 | | |\n| 19 | Protection products revenue | 172 | | | 172 | | | 165 | | |\n| 20 | Loan fee income | 763 | | | 632 | | | 464 | | |\n| 21 | Transaction processing revenue | 303 | | | 249 | | | 227 | | |\n| 22 | (Losses) gains on equity investments | (9) | | | (214) | | | 424 | | |\n| 23 | Other income | 85 | | | 75 | | | 66 | | |\n| 24 | Total other income | 2,761 | | | 2,294 | | | 2,534 | | |\n| 25 | Other expense | | | | | | | | | |\n| 26 | Employee compensation and benefits | 2,434 | | | 2,139 | | | 1,986 | | |\n| 27 | Marketing and business development | 1,164 | | | 1,035 | | | 810 | | |\n| 28 | Information processing and communications | 608 | | | 513 | | | 500 | | |\n| 29 | Professional fees | 1,041 | | | 871 | | | 797 | | |\n| 30 | Premises and equipment | 89 | | | 118 | | | 92 | | |\n| 31 | Other expense | 680 | | | 540 | | | 620 | | |\n| 32 | Total other expense | 6,016 | | | 5,216 | | | 4,805 | | |\n| 33 | Income before income taxes | 3,826 | | | 5,718 | | | 7,028 | | |\n| 34 | Income tax expense | 886 | | | 1,344 | | | 1,606 | | |\n| 35 | Net income | $ | 2,940 | | | $ | 4,374 | | $ | 5,422 |\n| 36 | Net income allocated to common stockholders | $ | 2,859 | | | $ | 4,286 | | $ | 5,323 |\n| 37 | Basic earnings per common share | $ | 11.27 | | | $ | 15.45 | | $ | 17.75 |\n| 38 | Diluted earnings per common share | $ | 11.26 | | | $ | 15.44 | | $ | 17.74 |\n\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_html_with_headers":"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 86: \nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>14,438 <\/td><\/td><\/td>$<\/td>10,632 <\/td><\/td><\/td>$<\/td>8,717 <\/td><\/td><\/tr>
Other loans<\/td>2,515 <\/td><\/td><\/td>1,870 <\/td><\/td><\/td>1,734 <\/td><\/td><\/tr>
Investment securities<\/td>449 <\/td><\/td><\/td>179 <\/td><\/td><\/td>182 <\/td><\/td><\/tr>
Other interest income<\/td>443 <\/td><\/td><\/td>183 <\/td><\/td><\/td>18 <\/td><\/td><\/tr>
Total interest income<\/td>17,845 <\/td><\/td><\/td>12,864 <\/td><\/td><\/td>10,651 <\/td><\/td><\/tr>
Interest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td>3,886 <\/td><\/td><\/td>1,257 <\/td><\/td><\/td>661 <\/td><\/td><\/tr>
Short-term borrowings<\/td>5 <\/td><\/td><\/td>2 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>855 <\/td><\/td><\/td>606 <\/td><\/td><\/td>473 <\/td><\/td><\/tr>
Total interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/tr>
Other income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discount and interchange revenue, net<\/td>1,447 <\/td><\/td><\/td>1,380 <\/td><\/td><\/td>1,188 <\/td><\/td><\/tr>
Protection products revenue<\/td>172 <\/td><\/td><\/td>172 <\/td><\/td><\/td>165 <\/td><\/td><\/tr>
Loan fee income<\/td>763 <\/td><\/td><\/td>632 <\/td><\/td><\/td>464 <\/td><\/td><\/tr>
Transaction processing revenue<\/td>303 <\/td><\/td><\/td>249 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
(Losses) gains on equity investments<\/td>(9)<\/td><\/td><\/td>(214)<\/td><\/td><\/td>424 <\/td><\/td><\/tr>
Other income<\/td>85 <\/td><\/td><\/td>75 <\/td><\/td><\/td>66 <\/td><\/td><\/tr>
Total other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/tr>
Other expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>2,434 <\/td><\/td><\/td>2,139 <\/td><\/td><\/td>1,986 <\/td><\/td><\/tr>
Marketing and business development<\/td>1,164 <\/td><\/td><\/td>1,035 <\/td><\/td><\/td>810 <\/td><\/td><\/tr>
Information processing and communications<\/td>608 <\/td><\/td><\/td>513 <\/td><\/td><\/td>500 <\/td><\/td><\/tr>
Professional fees<\/td>1,041 <\/td><\/td><\/td>871 <\/td><\/td><\/td>797 <\/td><\/td><\/tr>
Premises and equipment<\/td>89 <\/td><\/td><\/td>118 <\/td><\/td><\/td>92 <\/td><\/td><\/tr>
Other expense<\/td>680 <\/td><\/td><\/td>540 <\/td><\/td><\/td>620 <\/td><\/td><\/tr>
Total other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n","context_html_without_headers":"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Income\n\n(dollars in millions, except for share amounts)
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>For the Years Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Interest income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Credit card loans<\/td>$<\/td>14,438 <\/td><\/td><\/td>$<\/td>10,632 <\/td><\/td><\/td>$<\/td>8,717 <\/td><\/td><\/tr>
Other loans<\/td>2,515 <\/td><\/td><\/td>1,870 <\/td><\/td><\/td>1,734 <\/td><\/td><\/tr>
Investment securities<\/td>449 <\/td><\/td><\/td>179 <\/td><\/td><\/td>182 <\/td><\/td><\/tr>
Other interest income<\/td>443 <\/td><\/td><\/td>183 <\/td><\/td><\/td>18 <\/td><\/td><\/tr>
Total interest income<\/td>17,845 <\/td><\/td><\/td>12,864 <\/td><\/td><\/td>10,651 <\/td><\/td><\/tr>
Interest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Deposits<\/td>3,886 <\/td><\/td><\/td>1,257 <\/td><\/td><\/td>661 <\/td><\/td><\/tr>
Short-term borrowings<\/td>5 <\/td><\/td><\/td>2 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Long-term borrowings<\/td>855 <\/td><\/td><\/td>606 <\/td><\/td><\/td>473 <\/td><\/td><\/tr>
Total interest expense<\/td>4,746 <\/td><\/td><\/td>1,865 <\/td><\/td><\/td>1,134 <\/td><\/td><\/tr>
Net interest income<\/td>13,099 <\/td><\/td><\/td>10,999 <\/td><\/td><\/td>9,517 <\/td><\/td><\/tr>
Provision for credit losses<\/td>6,018 <\/td><\/td><\/td>2,359 <\/td><\/td><\/td>218 <\/td><\/td><\/tr>
Net interest income after provision for credit losses<\/td>7,081 <\/td><\/td><\/td>8,640 <\/td><\/td><\/td>9,299 <\/td><\/td><\/tr>
Other income<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Discount and interchange revenue, net<\/td>1,447 <\/td><\/td><\/td>1,380 <\/td><\/td><\/td>1,188 <\/td><\/td><\/tr>
Protection products revenue<\/td>172 <\/td><\/td><\/td>172 <\/td><\/td><\/td>165 <\/td><\/td><\/tr>
Loan fee income<\/td>763 <\/td><\/td><\/td>632 <\/td><\/td><\/td>464 <\/td><\/td><\/tr>
Transaction processing revenue<\/td>303 <\/td><\/td><\/td>249 <\/td><\/td><\/td>227 <\/td><\/td><\/tr>
(Losses) gains on equity investments<\/td>(9)<\/td><\/td><\/td>(214)<\/td><\/td><\/td>424 <\/td><\/td><\/tr>
Other income<\/td>85 <\/td><\/td><\/td>75 <\/td><\/td><\/td>66 <\/td><\/td><\/tr>
Total other income<\/td>2,761 <\/td><\/td><\/td>2,294 <\/td><\/td><\/td>2,534 <\/td><\/td><\/tr>
Other expense<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Employee compensation and benefits<\/td>2,434 <\/td><\/td><\/td>2,139 <\/td><\/td><\/td>1,986 <\/td><\/td><\/tr>
Marketing and business development<\/td>1,164 <\/td><\/td><\/td>1,035 <\/td><\/td><\/td>810 <\/td><\/td><\/tr>
Information processing and communications<\/td>608 <\/td><\/td><\/td>513 <\/td><\/td><\/td>500 <\/td><\/td><\/tr>
Professional fees<\/td>1,041 <\/td><\/td><\/td>871 <\/td><\/td><\/td>797 <\/td><\/td><\/tr>
Premises and equipment<\/td>89 <\/td><\/td><\/td>118 <\/td><\/td><\/td>92 <\/td><\/td><\/tr>
Other expense<\/td>680 <\/td><\/td><\/td>540 <\/td><\/td><\/td>620 <\/td><\/td><\/tr>
Total other expense<\/td>6,016 <\/td><\/td><\/td>5,216 <\/td><\/td><\/td>4,805 <\/td><\/td><\/tr>
Income before income taxes<\/td>3,826 <\/td><\/td><\/td>5,718 <\/td><\/td><\/td>7,028 <\/td><\/td><\/tr>
Income tax expense<\/td>886 <\/td><\/td><\/td>1,344 <\/td><\/td><\/td>1,606 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>2,940 <\/td><\/td><\/td>$<\/td>4,374 <\/td><\/td><\/td>$<\/td>5,422 <\/td><\/td><\/tr>
Net income allocated to common stockholders<\/td>$<\/td>2,859 <\/td><\/td><\/td>$<\/td>4,286 <\/td><\/td><\/td>$<\/td>5,323 <\/td><\/td><\/tr>
Basic earnings per common share<\/td>$<\/td>11.27 <\/td><\/td><\/td>$<\/td>15.45 <\/td><\/td><\/td>$<\/td>17.75 <\/td><\/td><\/tr>
Diluted earnings per common share<\/td>$<\/td>11.26 <\/td><\/td><\/td>$<\/td>15.44 <\/td><\/td><\/td>$<\/td>17.74 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nSee Notes to the Consolidated Financial Statements.\n\n-86-\n\n\n\n\n"} +{"QID":"q_Ra070","Question":"Can you provide the Net Profit Margin for Goldman Sachs for Q1 2024?","ground_truth_answer":"The Net Profit Margin for Goldman Sachs for the first quarter of 2024 is calculated as follows:\nNet Profit Margin = (Net Income \/ Revenue) * 100\nNet Income (2024 Q1) = $4,132 million\nRevenue (2024 Q1) = $14,213 million\nNet Profit Margin = (4,132 \/ 14,213) * 100 = 29.07%","question_type":"Ratio","page_number":1,"accession_number":"0000886982-24-000016","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------|:------------------------|:------|:------|:-------|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | | |\n| 4 | Revenues | | | | | | |\n| 5 | Investment banking | $ | 2,085 | | | $ | 1,578 |\n| 6 | Investment management | 2,491 | | | 2,289 | | |\n| 7 | Commissions and fees | 1,077 | | | 1,088 | | |\n| 8 | Market making | 5,992 | | | 5,433 | | |\n| 9 | Other principal transactions | 960 | | | 55 | | |\n| 10 | Total non-interest revenues | 12,605 | | | 10,443 | | |\n| 12 | Interest income | 19,555 | | | 14,938 | | |\n| 13 | Interest expense | 17,947 | | | 13,157 | | |\n| 14 | Net interest income | 1,608 | | | 1,781 | | |\n| 15 | Total net revenues | 14,213 | | | 12,224 | | |\n| 16 | Provision for credit losses | 318 | | | (171) | | |\n| 17 | Operating expenses | | | | | | |\n| 18 | Compensation and benefits | 4,585 | | | 4,090 | | |\n| 19 | Transaction based | 1,497 | | | 1,405 | | |\n| 20 | Market development | 153 | | | 172 | | |\n| 21 | Communications and technology | 470 | | | 466 | | |\n| 22 | Depreciation and amortization | 627 | | | 970 | | |\n| 23 | Occupancy | 247 | | | 265 | | |\n| 24 | Professional fees | 384 | | | 383 | | |\n| 25 | Other expenses | 695 | | | 651 | | |\n| 26 | Total operating expenses | 8,658 | | | 8,402 | | |\n| 28 | Pre-tax earnings | 5,237 | | | 3,993 | | |\n| 29 | Provision for taxes | 1,105 | | | 759 | | |\n| 30 | Net earnings | 4,132 | | | 3,234 | | |\n| 31 | Preferred stock dividends | 201 | | | 147 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 3,931 | | | $ | 3,087 |\n| 34 | Earnings per common share | | | | | | |\n| 35 | Basic | $ | 11.67 | | | $ | 8.87 |\n| 36 | Diluted | $ | 11.58 | | | $ | 8.79 |\n| 38 | Average common shares | | | | | | |\n| 39 | Basic | 335.6 | | 346.6 | | | |\n| 40 | Diluted | 339.5 | | 351.3 | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------------------|:------------------------|:------|:-----|:-----|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | | |\n| 4 | Net earnings | $ | 4,132 | | | $ | 3,234 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | |\n| 6 | Currency translation | 26 | | | (31) | | |\n| 7 | Debt valuation adjustment | (556) | | | (1) | | |\n| 8 | Pension and postretirement liabilities | 16 | | | 14 | | |\n| 9 | Available-for-sale securities | 115 | | | 427 | | |\n| 10 | Other comprehensive income\/(loss) | (399) | | | 409 | | |\n| 11 | Comprehensive income | $ | 3,733 | | | $ | 3,643 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:-----------------------------------|\n| 1 | 1 | Goldman Sachs March 2024 Form 10-Q |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------|:------------------------|:------|:------|:-------|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | | |\n| 4 | Revenues | | | | | | |\n| 5 | Investment banking | $ | 2,085 | | | $ | 1,578 |\n| 6 | Investment management | 2,491 | | | 2,289 | | |\n| 7 | Commissions and fees | 1,077 | | | 1,088 | | |\n| 8 | Market making | 5,992 | | | 5,433 | | |\n| 9 | Other principal transactions | 960 | | | 55 | | |\n| 10 | Total non-interest revenues | 12,605 | | | 10,443 | | |\n| 12 | Interest income | 19,555 | | | 14,938 | | |\n| 13 | Interest expense | 17,947 | | | 13,157 | | |\n| 14 | Net interest income | 1,608 | | | 1,781 | | |\n| 15 | Total net revenues | 14,213 | | | 12,224 | | |\n| 16 | Provision for credit losses | 318 | | | (171) | | |\n| 17 | Operating expenses | | | | | | |\n| 18 | Compensation and benefits | 4,585 | | | 4,090 | | |\n| 19 | Transaction based | 1,497 | | | 1,405 | | |\n| 20 | Market development | 153 | | | 172 | | |\n| 21 | Communications and technology | 470 | | | 466 | | |\n| 22 | Depreciation and amortization | 627 | | | 970 | | |\n| 23 | Occupancy | 247 | | | 265 | | |\n| 24 | Professional fees | 384 | | | 383 | | |\n| 25 | Other expenses | 695 | | | 651 | | |\n| 26 | Total operating expenses | 8,658 | | | 8,402 | | |\n| 28 | Pre-tax earnings | 5,237 | | | 3,993 | | |\n| 29 | Provision for taxes | 1,105 | | | 759 | | |\n| 30 | Net earnings | 4,132 | | | 3,234 | | |\n| 31 | Preferred stock dividends | 201 | | | 147 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 3,931 | | | $ | 3,087 |\n| 34 | Earnings per common share | | | | | | |\n| 35 | Basic | $ | 11.67 | | | $ | 8.87 |\n| 36 | Diluted | $ | 11.58 | | | $ | 8.79 |\n| 38 | Average common shares | | | | | | |\n| 39 | Basic | 335.6 | | 346.6 | | | |\n| 40 | Diluted | 339.5 | | 351.3 | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------------------|:------------------------|:------|:-----|:-----|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | | |\n| 4 | Net earnings | $ | 4,132 | | | $ | 3,234 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | |\n| 6 | Currency translation | 26 | | | (31) | | |\n| 7 | Debt valuation adjustment | (556) | | | (1) | | |\n| 8 | Pension and postretirement liabilities | 16 | | | 14 | | |\n| 9 | Available-for-sale securities | 115 | | | 427 | | |\n| 10 | Other comprehensive income\/(loss) | (399) | | | 409 | | |\n| 11 | Comprehensive income | $ | 3,733 | | | $ | 3,643 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:-----------------------------------|\n| 1 | 1 | Goldman Sachs March 2024 Form 10-Q |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>2,085 <\/td><\/td><\/td>$<\/td>1,578 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment management<\/td>2,491 <\/td><\/td><\/td>2,289 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and fees<\/td>1,077 <\/td><\/td><\/td>1,088 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market making<\/td>5,992 <\/td><\/td><\/td>5,433 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other principal transactions<\/td>960 <\/td><\/td><\/td>55 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total non-interest revenues<\/td>12,605 <\/td><\/td><\/td>10,443 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>19,555 <\/td><\/td><\/td>14,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>17,947 <\/td><\/td><\/td>13,157 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>1,608 <\/td><\/td><\/td>1,781 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenues<\/td>14,213 <\/td><\/td><\/td>12,224 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>318 <\/td><\/td><\/td>(171)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,585 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Transaction based<\/td>1,497 <\/td><\/td><\/td>1,405 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>172 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Communications and technology<\/td>470 <\/td><\/td><\/td>466 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>627 <\/td><\/td><\/td>970 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy<\/td>247 <\/td><\/td><\/td>265 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional fees<\/td>384 <\/td><\/td><\/td>383 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expenses<\/td>695 <\/td><\/td><\/td>651 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating expenses<\/td>8,658 <\/td><\/td><\/td>8,402 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>5,237 <\/td><\/td><\/td>3,993 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for taxes<\/td>1,105 <\/td><\/td><\/td>759 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>4,132 <\/td><\/td><\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Preferred stock dividends<\/td>201 <\/td><\/td><\/td>147 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>3,931 <\/td><\/td><\/td>$<\/td>3,087 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>11.67 <\/td><\/td><\/td>$<\/td>8.87 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.58 <\/td><\/td><\/td>$<\/td>8.79 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>335.6<\/td><\/td>346.6<\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>339.5<\/td><\/td>351.3<\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>$<\/td>4,132 <\/td><\/td><\/td>$<\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>26 <\/td><\/td><\/td>(31)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Debt valuation adjustment<\/td>(556)<\/td><\/td><\/td>(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>16 <\/td><\/td><\/td>14 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Available-for-sale securities<\/td>115 <\/td><\/td><\/td>427 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(399)<\/td><\/td><\/td>409 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,733 <\/td><\/td><\/td>$<\/td>3,643 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs March 2024 Form 10-Q<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>2,085 <\/td><\/td><\/td>$<\/td>1,578 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment management<\/td>2,491 <\/td><\/td><\/td>2,289 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and fees<\/td>1,077 <\/td><\/td><\/td>1,088 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market making<\/td>5,992 <\/td><\/td><\/td>5,433 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other principal transactions<\/td>960 <\/td><\/td><\/td>55 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total non-interest revenues<\/td>12,605 <\/td><\/td><\/td>10,443 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>19,555 <\/td><\/td><\/td>14,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>17,947 <\/td><\/td><\/td>13,157 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>1,608 <\/td><\/td><\/td>1,781 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenues<\/td>14,213 <\/td><\/td><\/td>12,224 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>318 <\/td><\/td><\/td>(171)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,585 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Transaction based<\/td>1,497 <\/td><\/td><\/td>1,405 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>172 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Communications and technology<\/td>470 <\/td><\/td><\/td>466 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>627 <\/td><\/td><\/td>970 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy<\/td>247 <\/td><\/td><\/td>265 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional fees<\/td>384 <\/td><\/td><\/td>383 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expenses<\/td>695 <\/td><\/td><\/td>651 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating expenses<\/td>8,658 <\/td><\/td><\/td>8,402 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>5,237 <\/td><\/td><\/td>3,993 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for taxes<\/td>1,105 <\/td><\/td><\/td>759 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>4,132 <\/td><\/td><\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Preferred stock dividends<\/td>201 <\/td><\/td><\/td>147 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>3,931 <\/td><\/td><\/td>$<\/td>3,087 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>11.67 <\/td><\/td><\/td>$<\/td>8.87 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.58 <\/td><\/td><\/td>$<\/td>8.79 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>335.6<\/td><\/td>346.6<\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>339.5<\/td><\/td>351.3<\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>$<\/td>4,132 <\/td><\/td><\/td>$<\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>26 <\/td><\/td><\/td>(31)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Debt valuation adjustment<\/td>(556)<\/td><\/td><\/td>(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>16 <\/td><\/td><\/td>14 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Available-for-sale securities<\/td>115 <\/td><\/td><\/td>427 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(399)<\/td><\/td><\/td>409 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,733 <\/td><\/td><\/td>$<\/td>3,643 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs March 2024 Form 10-Q<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra071","Question":"How did Goldman Sachs\u2019 Operating Profit Margin fare in the first quarter of 2024?","ground_truth_answer":"The Operating Profit Margin for Goldman Sachs for the first quarter of 2024 is calculated as follows:\nOperating Profit Margin = (Operating Profit \/ Revenue) * 100\nOperating Profit (2024 Q1) = $5,237 million (Pre-tax earnings)\nRevenue (2024 Q1) = $14,213 million\nOperating Profit Margin = (5,237 \/ 14,213) * 100 = 36.84%","question_type":"Ratio","page_number":1,"accession_number":"0000886982-24-000016","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------|:------------------------|:------|:------|:-------|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | | |\n| 4 | Revenues | | | | | | |\n| 5 | Investment banking | $ | 2,085 | | | $ | 1,578 |\n| 6 | Investment management | 2,491 | | | 2,289 | | |\n| 7 | Commissions and fees | 1,077 | | | 1,088 | | |\n| 8 | Market making | 5,992 | | | 5,433 | | |\n| 9 | Other principal transactions | 960 | | | 55 | | |\n| 10 | Total non-interest revenues | 12,605 | | | 10,443 | | |\n| 12 | Interest income | 19,555 | | | 14,938 | | |\n| 13 | Interest expense | 17,947 | | | 13,157 | | |\n| 14 | Net interest income | 1,608 | | | 1,781 | | |\n| 15 | Total net revenues | 14,213 | | | 12,224 | | |\n| 16 | Provision for credit losses | 318 | | | (171) | | |\n| 17 | Operating expenses | | | | | | |\n| 18 | Compensation and benefits | 4,585 | | | 4,090 | | |\n| 19 | Transaction based | 1,497 | | | 1,405 | | |\n| 20 | Market development | 153 | | | 172 | | |\n| 21 | Communications and technology | 470 | | | 466 | | |\n| 22 | Depreciation and amortization | 627 | | | 970 | | |\n| 23 | Occupancy | 247 | | | 265 | | |\n| 24 | Professional fees | 384 | | | 383 | | |\n| 25 | Other expenses | 695 | | | 651 | | |\n| 26 | Total operating expenses | 8,658 | | | 8,402 | | |\n| 28 | Pre-tax earnings | 5,237 | | | 3,993 | | |\n| 29 | Provision for taxes | 1,105 | | | 759 | | |\n| 30 | Net earnings | 4,132 | | | 3,234 | | |\n| 31 | Preferred stock dividends | 201 | | | 147 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 3,931 | | | $ | 3,087 |\n| 34 | Earnings per common share | | | | | | |\n| 35 | Basic | $ | 11.67 | | | $ | 8.87 |\n| 36 | Diluted | $ | 11.58 | | | $ | 8.79 |\n| 38 | Average common shares | | | | | | |\n| 39 | Basic | 335.6 | | 346.6 | | | |\n| 40 | Diluted | 339.5 | | 351.3 | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------------------|:------------------------|:------|:-----|:-----|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | | |\n| 4 | Net earnings | $ | 4,132 | | | $ | 3,234 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | |\n| 6 | Currency translation | 26 | | | (31) | | |\n| 7 | Debt valuation adjustment | (556) | | | (1) | | |\n| 8 | Pension and postretirement liabilities | 16 | | | 14 | | |\n| 9 | Available-for-sale securities | 115 | | | 427 | | |\n| 10 | Other comprehensive income\/(loss) | (399) | | | 409 | | |\n| 11 | Comprehensive income | $ | 3,733 | | | $ | 3,643 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:-----------------------------------|\n| 1 | 1 | Goldman Sachs March 2024 Form 10-Q |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------|:------------------------|:------|:------|:-------|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | | |\n| 4 | Revenues | | | | | | |\n| 5 | Investment banking | $ | 2,085 | | | $ | 1,578 |\n| 6 | Investment management | 2,491 | | | 2,289 | | |\n| 7 | Commissions and fees | 1,077 | | | 1,088 | | |\n| 8 | Market making | 5,992 | | | 5,433 | | |\n| 9 | Other principal transactions | 960 | | | 55 | | |\n| 10 | Total non-interest revenues | 12,605 | | | 10,443 | | |\n| 12 | Interest income | 19,555 | | | 14,938 | | |\n| 13 | Interest expense | 17,947 | | | 13,157 | | |\n| 14 | Net interest income | 1,608 | | | 1,781 | | |\n| 15 | Total net revenues | 14,213 | | | 12,224 | | |\n| 16 | Provision for credit losses | 318 | | | (171) | | |\n| 17 | Operating expenses | | | | | | |\n| 18 | Compensation and benefits | 4,585 | | | 4,090 | | |\n| 19 | Transaction based | 1,497 | | | 1,405 | | |\n| 20 | Market development | 153 | | | 172 | | |\n| 21 | Communications and technology | 470 | | | 466 | | |\n| 22 | Depreciation and amortization | 627 | | | 970 | | |\n| 23 | Occupancy | 247 | | | 265 | | |\n| 24 | Professional fees | 384 | | | 383 | | |\n| 25 | Other expenses | 695 | | | 651 | | |\n| 26 | Total operating expenses | 8,658 | | | 8,402 | | |\n| 28 | Pre-tax earnings | 5,237 | | | 3,993 | | |\n| 29 | Provision for taxes | 1,105 | | | 759 | | |\n| 30 | Net earnings | 4,132 | | | 3,234 | | |\n| 31 | Preferred stock dividends | 201 | | | 147 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 3,931 | | | $ | 3,087 |\n| 34 | Earnings per common share | | | | | | |\n| 35 | Basic | $ | 11.67 | | | $ | 8.87 |\n| 36 | Diluted | $ | 11.58 | | | $ | 8.79 |\n| 38 | Average common shares | | | | | | |\n| 39 | Basic | 335.6 | | 346.6 | | | |\n| 40 | Diluted | 339.5 | | 351.3 | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------------------|:------------------------|:------|:-----|:-----|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | | |\n| 4 | Net earnings | $ | 4,132 | | | $ | 3,234 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | |\n| 6 | Currency translation | 26 | | | (31) | | |\n| 7 | Debt valuation adjustment | (556) | | | (1) | | |\n| 8 | Pension and postretirement liabilities | 16 | | | 14 | | |\n| 9 | Available-for-sale securities | 115 | | | 427 | | |\n| 10 | Other comprehensive income\/(loss) | (399) | | | 409 | | |\n| 11 | Comprehensive income | $ | 3,733 | | | $ | 3,643 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:-----------------------------------|\n| 1 | 1 | Goldman Sachs March 2024 Form 10-Q |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>2,085 <\/td><\/td><\/td>$<\/td>1,578 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment management<\/td>2,491 <\/td><\/td><\/td>2,289 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and fees<\/td>1,077 <\/td><\/td><\/td>1,088 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market making<\/td>5,992 <\/td><\/td><\/td>5,433 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other principal transactions<\/td>960 <\/td><\/td><\/td>55 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total non-interest revenues<\/td>12,605 <\/td><\/td><\/td>10,443 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>19,555 <\/td><\/td><\/td>14,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>17,947 <\/td><\/td><\/td>13,157 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>1,608 <\/td><\/td><\/td>1,781 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenues<\/td>14,213 <\/td><\/td><\/td>12,224 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>318 <\/td><\/td><\/td>(171)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,585 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Transaction based<\/td>1,497 <\/td><\/td><\/td>1,405 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>172 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Communications and technology<\/td>470 <\/td><\/td><\/td>466 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>627 <\/td><\/td><\/td>970 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy<\/td>247 <\/td><\/td><\/td>265 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional fees<\/td>384 <\/td><\/td><\/td>383 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expenses<\/td>695 <\/td><\/td><\/td>651 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating expenses<\/td>8,658 <\/td><\/td><\/td>8,402 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>5,237 <\/td><\/td><\/td>3,993 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for taxes<\/td>1,105 <\/td><\/td><\/td>759 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>4,132 <\/td><\/td><\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Preferred stock dividends<\/td>201 <\/td><\/td><\/td>147 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>3,931 <\/td><\/td><\/td>$<\/td>3,087 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>11.67 <\/td><\/td><\/td>$<\/td>8.87 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.58 <\/td><\/td><\/td>$<\/td>8.79 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>335.6<\/td><\/td>346.6<\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>339.5<\/td><\/td>351.3<\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>$<\/td>4,132 <\/td><\/td><\/td>$<\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>26 <\/td><\/td><\/td>(31)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Debt valuation adjustment<\/td>(556)<\/td><\/td><\/td>(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>16 <\/td><\/td><\/td>14 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Available-for-sale securities<\/td>115 <\/td><\/td><\/td>427 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(399)<\/td><\/td><\/td>409 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,733 <\/td><\/td><\/td>$<\/td>3,643 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs March 2024 Form 10-Q<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>2,085 <\/td><\/td><\/td>$<\/td>1,578 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment management<\/td>2,491 <\/td><\/td><\/td>2,289 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and fees<\/td>1,077 <\/td><\/td><\/td>1,088 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market making<\/td>5,992 <\/td><\/td><\/td>5,433 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other principal transactions<\/td>960 <\/td><\/td><\/td>55 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total non-interest revenues<\/td>12,605 <\/td><\/td><\/td>10,443 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>19,555 <\/td><\/td><\/td>14,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>17,947 <\/td><\/td><\/td>13,157 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>1,608 <\/td><\/td><\/td>1,781 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenues<\/td>14,213 <\/td><\/td><\/td>12,224 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>318 <\/td><\/td><\/td>(171)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,585 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Transaction based<\/td>1,497 <\/td><\/td><\/td>1,405 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>172 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Communications and technology<\/td>470 <\/td><\/td><\/td>466 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>627 <\/td><\/td><\/td>970 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy<\/td>247 <\/td><\/td><\/td>265 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional fees<\/td>384 <\/td><\/td><\/td>383 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expenses<\/td>695 <\/td><\/td><\/td>651 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating expenses<\/td>8,658 <\/td><\/td><\/td>8,402 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>5,237 <\/td><\/td><\/td>3,993 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for taxes<\/td>1,105 <\/td><\/td><\/td>759 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>4,132 <\/td><\/td><\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Preferred stock dividends<\/td>201 <\/td><\/td><\/td>147 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>3,931 <\/td><\/td><\/td>$<\/td>3,087 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>11.67 <\/td><\/td><\/td>$<\/td>8.87 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.58 <\/td><\/td><\/td>$<\/td>8.79 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>335.6<\/td><\/td>346.6<\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>339.5<\/td><\/td>351.3<\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>$<\/td>4,132 <\/td><\/td><\/td>$<\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>26 <\/td><\/td><\/td>(31)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Debt valuation adjustment<\/td>(556)<\/td><\/td><\/td>(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>16 <\/td><\/td><\/td>14 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Available-for-sale securities<\/td>115 <\/td><\/td><\/td>427 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(399)<\/td><\/td><\/td>409 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,733 <\/td><\/td><\/td>$<\/td>3,643 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs March 2024 Form 10-Q<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra072","Question":"What was Goldman Sachs' Return on Equity (ROE) for Q1 2024?","ground_truth_answer":"The Return on Equity (ROE) for Goldman Sachs for the first quarter of 2024 is calculated as follows:\nROE = (Net Income after prefered stock dividend \/ Shareholder's Equity) * 100\nNet Earnings Applicable to Common Shareholders (2024 Q1) = $3,931 million \nAverage Shareholder's Equity (2024 Q1) = (Total Shareholders' Equity at Q1 2024 + Total Shareholders' Equity at Q4 2023) \/ 2\n= ($118,546 million + $116,905 million) \/ 2\n= $117,725.5 million\nROE = (3,931 \/ 117,275.5) * 100 = 3.34%","question_type":"Ratio","page_number":"1, 2","accession_number":"0000886982-24-000016","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------|:------------------------|:------|:------|:-------|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | | |\n| 4 | Revenues | | | | | | |\n| 5 | Investment banking | $ | 2,085 | | | $ | 1,578 |\n| 6 | Investment management | 2,491 | | | 2,289 | | |\n| 7 | Commissions and fees | 1,077 | | | 1,088 | | |\n| 8 | Market making | 5,992 | | | 5,433 | | |\n| 9 | Other principal transactions | 960 | | | 55 | | |\n| 10 | Total non-interest revenues | 12,605 | | | 10,443 | | |\n| 12 | Interest income | 19,555 | | | 14,938 | | |\n| 13 | Interest expense | 17,947 | | | 13,157 | | |\n| 14 | Net interest income | 1,608 | | | 1,781 | | |\n| 15 | Total net revenues | 14,213 | | | 12,224 | | |\n| 16 | Provision for credit losses | 318 | | | (171) | | |\n| 17 | Operating expenses | | | | | | |\n| 18 | Compensation and benefits | 4,585 | | | 4,090 | | |\n| 19 | Transaction based | 1,497 | | | 1,405 | | |\n| 20 | Market development | 153 | | | 172 | | |\n| 21 | Communications and technology | 470 | | | 466 | | |\n| 22 | Depreciation and amortization | 627 | | | 970 | | |\n| 23 | Occupancy | 247 | | | 265 | | |\n| 24 | Professional fees | 384 | | | 383 | | |\n| 25 | Other expenses | 695 | | | 651 | | |\n| 26 | Total operating expenses | 8,658 | | | 8,402 | | |\n| 28 | Pre-tax earnings | 5,237 | | | 3,993 | | |\n| 29 | Provision for taxes | 1,105 | | | 759 | | |\n| 30 | Net earnings | 4,132 | | | 3,234 | | |\n| 31 | Preferred stock dividends | 201 | | | 147 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 3,931 | | | $ | 3,087 |\n| 34 | Earnings per common share | | | | | | |\n| 35 | Basic | $ | 11.67 | | | $ | 8.87 |\n| 36 | Diluted | $ | 11.58 | | | $ | 8.79 |\n| 38 | Average common shares | | | | | | |\n| 39 | Basic | 335.6 | | 346.6 | | | |\n| 40 | Diluted | 339.5 | | 351.3 | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------------------|:------------------------|:------|:-----|:-----|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | | |\n| 4 | Net earnings | $ | 4,132 | | | $ | 3,234 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | |\n| 6 | Currency translation | 26 | | | (31) | | |\n| 7 | Debt valuation adjustment | (556) | | | (1) | | |\n| 8 | Pension and postretirement liabilities | 16 | | | 14 | | |\n| 9 | Available-for-sale securities | 115 | | | 427 | | |\n| 10 | Other comprehensive income\/(loss) | (399) | | | 409 | | |\n| 11 | Comprehensive income | $ | 3,733 | | | $ | 3,643 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:-----------------------------------|\n| 1 | 1 | Goldman Sachs March 2024 Form 10-Q |\n\n, GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | March | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 209,385 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value) | 231,918 | | 223,805 | | |\n| 8 | Securities borrowed (includes $48,624 and $44,930 at fair value) | 214,913 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 160,419 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral) | 507,718 | | 477,510 | | |\n| 11 | Investments (includes $81,777 and $75,767 at fair value) | 154,900 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value) | 183,934 | | 183,358 | | |\n| 13 | Other assets (includes $248 and $366 at fair value) | 35,253 | | 36,590 | | |\n| 14 | Total assets | $ | 1,698,440 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $31,370 and $29,460 at fair value) | $ | 440,662 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 267,479 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,289 and $8,934 at fair value) | 66,261 | | 60,483 | | |\n| 21 | Other secured financings (includes $14,798 and $12,554 at fair value) | 15,052 | | 13,194 | | |\n| 22 | Customer and other payables | 256,662 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 201,142 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value) | 78,603 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value) | 233,919 | | 241,877 | | |\n| 26 | Other liabilities (includes $150 and $266 at fair value) | 20,114 | | 23,803 | | |\n| 27 | Total liabilities | 1,579,894 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $11,203 | 11,203 | | 11,203 | | |\n| 31 | Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 4,564 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,314 | | 60,247 | | |\n| 35 | Retained earnings | 146,690 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (3,317) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares | (101,917) | | (100,445) | | |\n| 38 | Total shareholders' equity | 118,546 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,698,440 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:-----------------------------------|---:|\n| 1 | Goldman Sachs March 2024 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------|:------------------------|:------|:------|:-------|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | | |\n| 4 | Revenues | | | | | | |\n| 5 | Investment banking | $ | 2,085 | | | $ | 1,578 |\n| 6 | Investment management | 2,491 | | | 2,289 | | |\n| 7 | Commissions and fees | 1,077 | | | 1,088 | | |\n| 8 | Market making | 5,992 | | | 5,433 | | |\n| 9 | Other principal transactions | 960 | | | 55 | | |\n| 10 | Total non-interest revenues | 12,605 | | | 10,443 | | |\n| 12 | Interest income | 19,555 | | | 14,938 | | |\n| 13 | Interest expense | 17,947 | | | 13,157 | | |\n| 14 | Net interest income | 1,608 | | | 1,781 | | |\n| 15 | Total net revenues | 14,213 | | | 12,224 | | |\n| 16 | Provision for credit losses | 318 | | | (171) | | |\n| 17 | Operating expenses | | | | | | |\n| 18 | Compensation and benefits | 4,585 | | | 4,090 | | |\n| 19 | Transaction based | 1,497 | | | 1,405 | | |\n| 20 | Market development | 153 | | | 172 | | |\n| 21 | Communications and technology | 470 | | | 466 | | |\n| 22 | Depreciation and amortization | 627 | | | 970 | | |\n| 23 | Occupancy | 247 | | | 265 | | |\n| 24 | Professional fees | 384 | | | 383 | | |\n| 25 | Other expenses | 695 | | | 651 | | |\n| 26 | Total operating expenses | 8,658 | | | 8,402 | | |\n| 28 | Pre-tax earnings | 5,237 | | | 3,993 | | |\n| 29 | Provision for taxes | 1,105 | | | 759 | | |\n| 30 | Net earnings | 4,132 | | | 3,234 | | |\n| 31 | Preferred stock dividends | 201 | | | 147 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 3,931 | | | $ | 3,087 |\n| 34 | Earnings per common share | | | | | | |\n| 35 | Basic | $ | 11.67 | | | $ | 8.87 |\n| 36 | Diluted | $ | 11.58 | | | $ | 8.79 |\n| 38 | Average common shares | | | | | | |\n| 39 | Basic | 335.6 | | 346.6 | | | |\n| 40 | Diluted | 339.5 | | 351.3 | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------------------|:------------------------|:------|:-----|:-----|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | | |\n| 4 | Net earnings | $ | 4,132 | | | $ | 3,234 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | |\n| 6 | Currency translation | 26 | | | (31) | | |\n| 7 | Debt valuation adjustment | (556) | | | (1) | | |\n| 8 | Pension and postretirement liabilities | 16 | | | 14 | | |\n| 9 | Available-for-sale securities | 115 | | | 427 | | |\n| 10 | Other comprehensive income\/(loss) | (399) | | | 409 | | |\n| 11 | Comprehensive income | $ | 3,733 | | | $ | 3,643 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:-----------------------------------|\n| 1 | 1 | Goldman Sachs March 2024 Form 10-Q |\n\n, \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | March | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 209,385 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value) | 231,918 | | 223,805 | | |\n| 8 | Securities borrowed (includes $48,624 and $44,930 at fair value) | 214,913 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 160,419 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral) | 507,718 | | 477,510 | | |\n| 11 | Investments (includes $81,777 and $75,767 at fair value) | 154,900 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value) | 183,934 | | 183,358 | | |\n| 13 | Other assets (includes $248 and $366 at fair value) | 35,253 | | 36,590 | | |\n| 14 | Total assets | $ | 1,698,440 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $31,370 and $29,460 at fair value) | $ | 440,662 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 267,479 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,289 and $8,934 at fair value) | 66,261 | | 60,483 | | |\n| 21 | Other secured financings (includes $14,798 and $12,554 at fair value) | 15,052 | | 13,194 | | |\n| 22 | Customer and other payables | 256,662 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 201,142 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value) | 78,603 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value) | 233,919 | | 241,877 | | |\n| 26 | Other liabilities (includes $150 and $266 at fair value) | 20,114 | | 23,803 | | |\n| 27 | Total liabilities | 1,579,894 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $11,203 | 11,203 | | 11,203 | | |\n| 31 | Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 4,564 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,314 | | 60,247 | | |\n| 35 | Retained earnings | 146,690 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (3,317) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares | (101,917) | | (100,445) | | |\n| 38 | Total shareholders' equity | 118,546 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,698,440 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:-----------------------------------|---:|\n| 1 | Goldman Sachs March 2024 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>2,085 <\/td><\/td><\/td>$<\/td>1,578 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment management<\/td>2,491 <\/td><\/td><\/td>2,289 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and fees<\/td>1,077 <\/td><\/td><\/td>1,088 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market making<\/td>5,992 <\/td><\/td><\/td>5,433 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other principal transactions<\/td>960 <\/td><\/td><\/td>55 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total non-interest revenues<\/td>12,605 <\/td><\/td><\/td>10,443 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>19,555 <\/td><\/td><\/td>14,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>17,947 <\/td><\/td><\/td>13,157 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>1,608 <\/td><\/td><\/td>1,781 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenues<\/td>14,213 <\/td><\/td><\/td>12,224 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>318 <\/td><\/td><\/td>(171)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,585 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Transaction based<\/td>1,497 <\/td><\/td><\/td>1,405 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>172 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Communications and technology<\/td>470 <\/td><\/td><\/td>466 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>627 <\/td><\/td><\/td>970 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy<\/td>247 <\/td><\/td><\/td>265 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional fees<\/td>384 <\/td><\/td><\/td>383 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expenses<\/td>695 <\/td><\/td><\/td>651 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating expenses<\/td>8,658 <\/td><\/td><\/td>8,402 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>5,237 <\/td><\/td><\/td>3,993 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for taxes<\/td>1,105 <\/td><\/td><\/td>759 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>4,132 <\/td><\/td><\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Preferred stock dividends<\/td>201 <\/td><\/td><\/td>147 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>3,931 <\/td><\/td><\/td>$<\/td>3,087 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>11.67 <\/td><\/td><\/td>$<\/td>8.87 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.58 <\/td><\/td><\/td>$<\/td>8.79 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>335.6<\/td><\/td>346.6<\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>339.5<\/td><\/td>351.3<\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>$<\/td>4,132 <\/td><\/td><\/td>$<\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>26 <\/td><\/td><\/td>(31)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Debt valuation adjustment<\/td>(556)<\/td><\/td><\/td>(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>16 <\/td><\/td><\/td>14 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Available-for-sale securities<\/td>115 <\/td><\/td><\/td>427 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(399)<\/td><\/td><\/td>409 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,733 <\/td><\/td><\/td>$<\/td>3,643 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs March 2024 Form 10-Q<\/td><\/tr><\/table>\n, GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>March<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>209,385 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value)<\/td>231,918 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $48,624 and $44,930 at fair value)<\/td>214,913 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>160,419 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral)<\/td>507,718 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $81,777 and $75,767 at fair value)<\/td>154,900 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value)<\/td>183,934 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $248 and $366 at fair value)<\/td>35,253 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $31,370 and $29,460 at fair value)<\/td>$<\/td>440,662 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>267,479 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,289 and $8,934 at fair value)<\/td>66,261 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $14,798 and $12,554 at fair value)<\/td>15,052 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>256,662 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>201,142 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value)<\/td>78,603 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value)<\/td>233,919 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $150 and $266 at fair value)<\/td>20,114 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,579,894 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $11,203<\/td>11,203 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>4,564 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,314 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>146,690 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(3,317)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares<\/td>(101,917)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>118,546 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs March 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>2,085 <\/td><\/td><\/td>$<\/td>1,578 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment management<\/td>2,491 <\/td><\/td><\/td>2,289 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and fees<\/td>1,077 <\/td><\/td><\/td>1,088 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market making<\/td>5,992 <\/td><\/td><\/td>5,433 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other principal transactions<\/td>960 <\/td><\/td><\/td>55 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total non-interest revenues<\/td>12,605 <\/td><\/td><\/td>10,443 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>19,555 <\/td><\/td><\/td>14,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>17,947 <\/td><\/td><\/td>13,157 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>1,608 <\/td><\/td><\/td>1,781 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenues<\/td>14,213 <\/td><\/td><\/td>12,224 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>318 <\/td><\/td><\/td>(171)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,585 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Transaction based<\/td>1,497 <\/td><\/td><\/td>1,405 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>172 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Communications and technology<\/td>470 <\/td><\/td><\/td>466 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>627 <\/td><\/td><\/td>970 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy<\/td>247 <\/td><\/td><\/td>265 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional fees<\/td>384 <\/td><\/td><\/td>383 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expenses<\/td>695 <\/td><\/td><\/td>651 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating expenses<\/td>8,658 <\/td><\/td><\/td>8,402 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>5,237 <\/td><\/td><\/td>3,993 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for taxes<\/td>1,105 <\/td><\/td><\/td>759 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>4,132 <\/td><\/td><\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Preferred stock dividends<\/td>201 <\/td><\/td><\/td>147 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>3,931 <\/td><\/td><\/td>$<\/td>3,087 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>11.67 <\/td><\/td><\/td>$<\/td>8.87 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.58 <\/td><\/td><\/td>$<\/td>8.79 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>335.6<\/td><\/td>346.6<\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>339.5<\/td><\/td>351.3<\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>$<\/td>4,132 <\/td><\/td><\/td>$<\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>26 <\/td><\/td><\/td>(31)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Debt valuation adjustment<\/td>(556)<\/td><\/td><\/td>(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>16 <\/td><\/td><\/td>14 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Available-for-sale securities<\/td>115 <\/td><\/td><\/td>427 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(399)<\/td><\/td><\/td>409 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,733 <\/td><\/td><\/td>$<\/td>3,643 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs March 2024 Form 10-Q<\/td><\/tr><\/table>\n, \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>March<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>209,385 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value)<\/td>231,918 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $48,624 and $44,930 at fair value)<\/td>214,913 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>160,419 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral)<\/td>507,718 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $81,777 and $75,767 at fair value)<\/td>154,900 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value)<\/td>183,934 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $248 and $366 at fair value)<\/td>35,253 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $31,370 and $29,460 at fair value)<\/td>$<\/td>440,662 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>267,479 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,289 and $8,934 at fair value)<\/td>66,261 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $14,798 and $12,554 at fair value)<\/td>15,052 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>256,662 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>201,142 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value)<\/td>78,603 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value)<\/td>233,919 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $150 and $266 at fair value)<\/td>20,114 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,579,894 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $11,203<\/td>11,203 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>4,564 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,314 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>146,690 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(3,317)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares<\/td>(101,917)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>118,546 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs March 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra073","Question":"For the first quarter of 2024, what was Goldman Sachs\u2019 Return on Assets (ROA)?","ground_truth_answer":"The Return on Assets (ROA) for Goldman Sachs for the first quarter of 2024 is calculated as follows:\nROA = (Net Income \/ Total Assets) * 100\nNet Income (2024 Q1) = $4,132 million\nTotal Assets (2024 Q1) = $1,698,440 million\nROA = (4,132 \/ 1,698,440) * 100 = 0.24%","question_type":"Ratio","page_number":"1, 2","accession_number":"0000886982-24-000016","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------|:------------------------|:------|:------|:-------|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | | |\n| 4 | Revenues | | | | | | |\n| 5 | Investment banking | $ | 2,085 | | | $ | 1,578 |\n| 6 | Investment management | 2,491 | | | 2,289 | | |\n| 7 | Commissions and fees | 1,077 | | | 1,088 | | |\n| 8 | Market making | 5,992 | | | 5,433 | | |\n| 9 | Other principal transactions | 960 | | | 55 | | |\n| 10 | Total non-interest revenues | 12,605 | | | 10,443 | | |\n| 12 | Interest income | 19,555 | | | 14,938 | | |\n| 13 | Interest expense | 17,947 | | | 13,157 | | |\n| 14 | Net interest income | 1,608 | | | 1,781 | | |\n| 15 | Total net revenues | 14,213 | | | 12,224 | | |\n| 16 | Provision for credit losses | 318 | | | (171) | | |\n| 17 | Operating expenses | | | | | | |\n| 18 | Compensation and benefits | 4,585 | | | 4,090 | | |\n| 19 | Transaction based | 1,497 | | | 1,405 | | |\n| 20 | Market development | 153 | | | 172 | | |\n| 21 | Communications and technology | 470 | | | 466 | | |\n| 22 | Depreciation and amortization | 627 | | | 970 | | |\n| 23 | Occupancy | 247 | | | 265 | | |\n| 24 | Professional fees | 384 | | | 383 | | |\n| 25 | Other expenses | 695 | | | 651 | | |\n| 26 | Total operating expenses | 8,658 | | | 8,402 | | |\n| 28 | Pre-tax earnings | 5,237 | | | 3,993 | | |\n| 29 | Provision for taxes | 1,105 | | | 759 | | |\n| 30 | Net earnings | 4,132 | | | 3,234 | | |\n| 31 | Preferred stock dividends | 201 | | | 147 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 3,931 | | | $ | 3,087 |\n| 34 | Earnings per common share | | | | | | |\n| 35 | Basic | $ | 11.67 | | | $ | 8.87 |\n| 36 | Diluted | $ | 11.58 | | | $ | 8.79 |\n| 38 | Average common shares | | | | | | |\n| 39 | Basic | 335.6 | | 346.6 | | | |\n| 40 | Diluted | 339.5 | | 351.3 | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------------------|:------------------------|:------|:-----|:-----|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | | |\n| 4 | Net earnings | $ | 4,132 | | | $ | 3,234 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | |\n| 6 | Currency translation | 26 | | | (31) | | |\n| 7 | Debt valuation adjustment | (556) | | | (1) | | |\n| 8 | Pension and postretirement liabilities | 16 | | | 14 | | |\n| 9 | Available-for-sale securities | 115 | | | 427 | | |\n| 10 | Other comprehensive income\/(loss) | (399) | | | 409 | | |\n| 11 | Comprehensive income | $ | 3,733 | | | $ | 3,643 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:-----------------------------------|\n| 1 | 1 | Goldman Sachs March 2024 Form 10-Q |\n\n, GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | March | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 209,385 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value) | 231,918 | | 223,805 | | |\n| 8 | Securities borrowed (includes $48,624 and $44,930 at fair value) | 214,913 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 160,419 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral) | 507,718 | | 477,510 | | |\n| 11 | Investments (includes $81,777 and $75,767 at fair value) | 154,900 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value) | 183,934 | | 183,358 | | |\n| 13 | Other assets (includes $248 and $366 at fair value) | 35,253 | | 36,590 | | |\n| 14 | Total assets | $ | 1,698,440 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $31,370 and $29,460 at fair value) | $ | 440,662 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 267,479 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,289 and $8,934 at fair value) | 66,261 | | 60,483 | | |\n| 21 | Other secured financings (includes $14,798 and $12,554 at fair value) | 15,052 | | 13,194 | | |\n| 22 | Customer and other payables | 256,662 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 201,142 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value) | 78,603 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value) | 233,919 | | 241,877 | | |\n| 26 | Other liabilities (includes $150 and $266 at fair value) | 20,114 | | 23,803 | | |\n| 27 | Total liabilities | 1,579,894 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $11,203 | 11,203 | | 11,203 | | |\n| 31 | Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 4,564 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,314 | | 60,247 | | |\n| 35 | Retained earnings | 146,690 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (3,317) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares | (101,917) | | (100,445) | | |\n| 38 | Total shareholders' equity | 118,546 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,698,440 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:-----------------------------------|---:|\n| 1 | Goldman Sachs March 2024 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------|:------------------------|:------|:------|:-------|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | | |\n| 4 | Revenues | | | | | | |\n| 5 | Investment banking | $ | 2,085 | | | $ | 1,578 |\n| 6 | Investment management | 2,491 | | | 2,289 | | |\n| 7 | Commissions and fees | 1,077 | | | 1,088 | | |\n| 8 | Market making | 5,992 | | | 5,433 | | |\n| 9 | Other principal transactions | 960 | | | 55 | | |\n| 10 | Total non-interest revenues | 12,605 | | | 10,443 | | |\n| 12 | Interest income | 19,555 | | | 14,938 | | |\n| 13 | Interest expense | 17,947 | | | 13,157 | | |\n| 14 | Net interest income | 1,608 | | | 1,781 | | |\n| 15 | Total net revenues | 14,213 | | | 12,224 | | |\n| 16 | Provision for credit losses | 318 | | | (171) | | |\n| 17 | Operating expenses | | | | | | |\n| 18 | Compensation and benefits | 4,585 | | | 4,090 | | |\n| 19 | Transaction based | 1,497 | | | 1,405 | | |\n| 20 | Market development | 153 | | | 172 | | |\n| 21 | Communications and technology | 470 | | | 466 | | |\n| 22 | Depreciation and amortization | 627 | | | 970 | | |\n| 23 | Occupancy | 247 | | | 265 | | |\n| 24 | Professional fees | 384 | | | 383 | | |\n| 25 | Other expenses | 695 | | | 651 | | |\n| 26 | Total operating expenses | 8,658 | | | 8,402 | | |\n| 28 | Pre-tax earnings | 5,237 | | | 3,993 | | |\n| 29 | Provision for taxes | 1,105 | | | 759 | | |\n| 30 | Net earnings | 4,132 | | | 3,234 | | |\n| 31 | Preferred stock dividends | 201 | | | 147 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 3,931 | | | $ | 3,087 |\n| 34 | Earnings per common share | | | | | | |\n| 35 | Basic | $ | 11.67 | | | $ | 8.87 |\n| 36 | Diluted | $ | 11.58 | | | $ | 8.79 |\n| 38 | Average common shares | | | | | | |\n| 39 | Basic | 335.6 | | 346.6 | | | |\n| 40 | Diluted | 339.5 | | 351.3 | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------------------|:------------------------|:------|:-----|:-----|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | | |\n| 4 | Net earnings | $ | 4,132 | | | $ | 3,234 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | |\n| 6 | Currency translation | 26 | | | (31) | | |\n| 7 | Debt valuation adjustment | (556) | | | (1) | | |\n| 8 | Pension and postretirement liabilities | 16 | | | 14 | | |\n| 9 | Available-for-sale securities | 115 | | | 427 | | |\n| 10 | Other comprehensive income\/(loss) | (399) | | | 409 | | |\n| 11 | Comprehensive income | $ | 3,733 | | | $ | 3,643 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:-----------------------------------|\n| 1 | 1 | Goldman Sachs March 2024 Form 10-Q |\n\n, \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | March | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 209,385 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value) | 231,918 | | 223,805 | | |\n| 8 | Securities borrowed (includes $48,624 and $44,930 at fair value) | 214,913 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 160,419 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral) | 507,718 | | 477,510 | | |\n| 11 | Investments (includes $81,777 and $75,767 at fair value) | 154,900 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value) | 183,934 | | 183,358 | | |\n| 13 | Other assets (includes $248 and $366 at fair value) | 35,253 | | 36,590 | | |\n| 14 | Total assets | $ | 1,698,440 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $31,370 and $29,460 at fair value) | $ | 440,662 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 267,479 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,289 and $8,934 at fair value) | 66,261 | | 60,483 | | |\n| 21 | Other secured financings (includes $14,798 and $12,554 at fair value) | 15,052 | | 13,194 | | |\n| 22 | Customer and other payables | 256,662 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 201,142 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value) | 78,603 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value) | 233,919 | | 241,877 | | |\n| 26 | Other liabilities (includes $150 and $266 at fair value) | 20,114 | | 23,803 | | |\n| 27 | Total liabilities | 1,579,894 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $11,203 | 11,203 | | 11,203 | | |\n| 31 | Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 4,564 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,314 | | 60,247 | | |\n| 35 | Retained earnings | 146,690 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (3,317) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares | (101,917) | | (100,445) | | |\n| 38 | Total shareholders' equity | 118,546 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,698,440 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:-----------------------------------|---:|\n| 1 | Goldman Sachs March 2024 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>2,085 <\/td><\/td><\/td>$<\/td>1,578 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment management<\/td>2,491 <\/td><\/td><\/td>2,289 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and fees<\/td>1,077 <\/td><\/td><\/td>1,088 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market making<\/td>5,992 <\/td><\/td><\/td>5,433 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other principal transactions<\/td>960 <\/td><\/td><\/td>55 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total non-interest revenues<\/td>12,605 <\/td><\/td><\/td>10,443 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>19,555 <\/td><\/td><\/td>14,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>17,947 <\/td><\/td><\/td>13,157 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>1,608 <\/td><\/td><\/td>1,781 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenues<\/td>14,213 <\/td><\/td><\/td>12,224 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>318 <\/td><\/td><\/td>(171)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,585 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Transaction based<\/td>1,497 <\/td><\/td><\/td>1,405 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>172 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Communications and technology<\/td>470 <\/td><\/td><\/td>466 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>627 <\/td><\/td><\/td>970 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy<\/td>247 <\/td><\/td><\/td>265 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional fees<\/td>384 <\/td><\/td><\/td>383 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expenses<\/td>695 <\/td><\/td><\/td>651 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating expenses<\/td>8,658 <\/td><\/td><\/td>8,402 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>5,237 <\/td><\/td><\/td>3,993 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for taxes<\/td>1,105 <\/td><\/td><\/td>759 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>4,132 <\/td><\/td><\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Preferred stock dividends<\/td>201 <\/td><\/td><\/td>147 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>3,931 <\/td><\/td><\/td>$<\/td>3,087 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>11.67 <\/td><\/td><\/td>$<\/td>8.87 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.58 <\/td><\/td><\/td>$<\/td>8.79 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>335.6<\/td><\/td>346.6<\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>339.5<\/td><\/td>351.3<\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>$<\/td>4,132 <\/td><\/td><\/td>$<\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>26 <\/td><\/td><\/td>(31)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Debt valuation adjustment<\/td>(556)<\/td><\/td><\/td>(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>16 <\/td><\/td><\/td>14 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Available-for-sale securities<\/td>115 <\/td><\/td><\/td>427 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(399)<\/td><\/td><\/td>409 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,733 <\/td><\/td><\/td>$<\/td>3,643 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs March 2024 Form 10-Q<\/td><\/tr><\/table>\n, GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>March<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>209,385 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value)<\/td>231,918 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $48,624 and $44,930 at fair value)<\/td>214,913 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>160,419 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral)<\/td>507,718 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $81,777 and $75,767 at fair value)<\/td>154,900 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value)<\/td>183,934 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $248 and $366 at fair value)<\/td>35,253 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $31,370 and $29,460 at fair value)<\/td>$<\/td>440,662 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>267,479 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,289 and $8,934 at fair value)<\/td>66,261 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $14,798 and $12,554 at fair value)<\/td>15,052 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>256,662 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>201,142 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value)<\/td>78,603 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value)<\/td>233,919 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $150 and $266 at fair value)<\/td>20,114 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,579,894 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $11,203<\/td>11,203 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>4,564 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,314 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>146,690 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(3,317)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares<\/td>(101,917)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>118,546 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs March 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>2,085 <\/td><\/td><\/td>$<\/td>1,578 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment management<\/td>2,491 <\/td><\/td><\/td>2,289 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and fees<\/td>1,077 <\/td><\/td><\/td>1,088 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market making<\/td>5,992 <\/td><\/td><\/td>5,433 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other principal transactions<\/td>960 <\/td><\/td><\/td>55 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total non-interest revenues<\/td>12,605 <\/td><\/td><\/td>10,443 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>19,555 <\/td><\/td><\/td>14,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>17,947 <\/td><\/td><\/td>13,157 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>1,608 <\/td><\/td><\/td>1,781 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenues<\/td>14,213 <\/td><\/td><\/td>12,224 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>318 <\/td><\/td><\/td>(171)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,585 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Transaction based<\/td>1,497 <\/td><\/td><\/td>1,405 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>172 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Communications and technology<\/td>470 <\/td><\/td><\/td>466 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>627 <\/td><\/td><\/td>970 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy<\/td>247 <\/td><\/td><\/td>265 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional fees<\/td>384 <\/td><\/td><\/td>383 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expenses<\/td>695 <\/td><\/td><\/td>651 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating expenses<\/td>8,658 <\/td><\/td><\/td>8,402 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>5,237 <\/td><\/td><\/td>3,993 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for taxes<\/td>1,105 <\/td><\/td><\/td>759 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>4,132 <\/td><\/td><\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Preferred stock dividends<\/td>201 <\/td><\/td><\/td>147 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>3,931 <\/td><\/td><\/td>$<\/td>3,087 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>11.67 <\/td><\/td><\/td>$<\/td>8.87 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.58 <\/td><\/td><\/td>$<\/td>8.79 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>335.6<\/td><\/td>346.6<\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>339.5<\/td><\/td>351.3<\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>$<\/td>4,132 <\/td><\/td><\/td>$<\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>26 <\/td><\/td><\/td>(31)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Debt valuation adjustment<\/td>(556)<\/td><\/td><\/td>(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>16 <\/td><\/td><\/td>14 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Available-for-sale securities<\/td>115 <\/td><\/td><\/td>427 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(399)<\/td><\/td><\/td>409 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,733 <\/td><\/td><\/td>$<\/td>3,643 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs March 2024 Form 10-Q<\/td><\/tr><\/table>\n, \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>March<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>209,385 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value)<\/td>231,918 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $48,624 and $44,930 at fair value)<\/td>214,913 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>160,419 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral)<\/td>507,718 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $81,777 and $75,767 at fair value)<\/td>154,900 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value)<\/td>183,934 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $248 and $366 at fair value)<\/td>35,253 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $31,370 and $29,460 at fair value)<\/td>$<\/td>440,662 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>267,479 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,289 and $8,934 at fair value)<\/td>66,261 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $14,798 and $12,554 at fair value)<\/td>15,052 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>256,662 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>201,142 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value)<\/td>78,603 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value)<\/td>233,919 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $150 and $266 at fair value)<\/td>20,114 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,579,894 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $11,203<\/td>11,203 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>4,564 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,314 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>146,690 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(3,317)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares<\/td>(101,917)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>118,546 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs March 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra074","Question":"As of March 2024, what is Goldman Sachs' Debt to Equity Ratio?","ground_truth_answer":"The Debt Equity Ratio for Goldman Sachs as of March 2024 is calculated as follows:\nDebt Equity Ratio = Total Debt \/ Shareholders' Equity\nTotal Debt (2024) = $1,579,894 million\nShareholders' Equity (2024) = $118,546 million\nDebt Equity Ratio = 1,579,894 \/ 118,546 = 13.33","question_type":"Ratio","page_number":2,"accession_number":"0000886982-24-000016","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | March | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 209,385 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value) | 231,918 | | 223,805 | | |\n| 8 | Securities borrowed (includes $48,624 and $44,930 at fair value) | 214,913 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 160,419 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral) | 507,718 | | 477,510 | | |\n| 11 | Investments (includes $81,777 and $75,767 at fair value) | 154,900 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value) | 183,934 | | 183,358 | | |\n| 13 | Other assets (includes $248 and $366 at fair value) | 35,253 | | 36,590 | | |\n| 14 | Total assets | $ | 1,698,440 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $31,370 and $29,460 at fair value) | $ | 440,662 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 267,479 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,289 and $8,934 at fair value) | 66,261 | | 60,483 | | |\n| 21 | Other secured financings (includes $14,798 and $12,554 at fair value) | 15,052 | | 13,194 | | |\n| 22 | Customer and other payables | 256,662 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 201,142 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value) | 78,603 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value) | 233,919 | | 241,877 | | |\n| 26 | Other liabilities (includes $150 and $266 at fair value) | 20,114 | | 23,803 | | |\n| 27 | Total liabilities | 1,579,894 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $11,203 | 11,203 | | 11,203 | | |\n| 31 | Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 4,564 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,314 | | 60,247 | | |\n| 35 | Retained earnings | 146,690 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (3,317) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares | (101,917) | | (100,445) | | |\n| 38 | Total shareholders' equity | 118,546 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,698,440 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:-----------------------------------|---:|\n| 1 | Goldman Sachs March 2024 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | March | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 209,385 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value) | 231,918 | | 223,805 | | |\n| 8 | Securities borrowed (includes $48,624 and $44,930 at fair value) | 214,913 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 160,419 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral) | 507,718 | | 477,510 | | |\n| 11 | Investments (includes $81,777 and $75,767 at fair value) | 154,900 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value) | 183,934 | | 183,358 | | |\n| 13 | Other assets (includes $248 and $366 at fair value) | 35,253 | | 36,590 | | |\n| 14 | Total assets | $ | 1,698,440 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $31,370 and $29,460 at fair value) | $ | 440,662 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 267,479 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,289 and $8,934 at fair value) | 66,261 | | 60,483 | | |\n| 21 | Other secured financings (includes $14,798 and $12,554 at fair value) | 15,052 | | 13,194 | | |\n| 22 | Customer and other payables | 256,662 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 201,142 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value) | 78,603 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value) | 233,919 | | 241,877 | | |\n| 26 | Other liabilities (includes $150 and $266 at fair value) | 20,114 | | 23,803 | | |\n| 27 | Total liabilities | 1,579,894 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $11,203 | 11,203 | | 11,203 | | |\n| 31 | Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 4,564 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,314 | | 60,247 | | |\n| 35 | Retained earnings | 146,690 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (3,317) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares | (101,917) | | (100,445) | | |\n| 38 | Total shareholders' equity | 118,546 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,698,440 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:-----------------------------------|---:|\n| 1 | Goldman Sachs March 2024 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>March<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>209,385 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value)<\/td>231,918 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $48,624 and $44,930 at fair value)<\/td>214,913 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>160,419 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral)<\/td>507,718 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $81,777 and $75,767 at fair value)<\/td>154,900 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value)<\/td>183,934 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $248 and $366 at fair value)<\/td>35,253 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $31,370 and $29,460 at fair value)<\/td>$<\/td>440,662 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>267,479 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,289 and $8,934 at fair value)<\/td>66,261 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $14,798 and $12,554 at fair value)<\/td>15,052 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>256,662 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>201,142 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value)<\/td>78,603 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value)<\/td>233,919 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $150 and $266 at fair value)<\/td>20,114 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,579,894 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $11,203<\/td>11,203 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>4,564 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,314 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>146,690 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(3,317)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares<\/td>(101,917)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>118,546 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs March 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>March<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>209,385 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value)<\/td>231,918 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $48,624 and $44,930 at fair value)<\/td>214,913 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>160,419 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral)<\/td>507,718 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $81,777 and $75,767 at fair value)<\/td>154,900 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value)<\/td>183,934 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $248 and $366 at fair value)<\/td>35,253 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $31,370 and $29,460 at fair value)<\/td>$<\/td>440,662 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>267,479 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,289 and $8,934 at fair value)<\/td>66,261 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $14,798 and $12,554 at fair value)<\/td>15,052 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>256,662 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>201,142 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value)<\/td>78,603 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value)<\/td>233,919 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $150 and $266 at fair value)<\/td>20,114 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,579,894 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $11,203<\/td>11,203 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>4,564 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,314 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>146,690 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(3,317)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares<\/td>(101,917)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>118,546 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs March 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra075","Question":"How was Goldman Sachs' Interest Coverage Ratio for the first quarter of 2024?","ground_truth_answer":"The Interest Coverage Ratio for Goldman Sachs for the first quarter of 2024 is calculated as follows:\nInterest Coverage Ratio = EBIT \/ Interest Expenses\nEBIT (2024 Q1) = $5,237 million (Pre-tax earnings)\nInterest Expenses (2024 Q1) = $17,947 million\nInterest Coverage Ratio = 5,237 \/ 17,947 = 0.29","question_type":"Ratio","page_number":1,"accession_number":"0000886982-24-000016","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------|:------------------------|:------|:------|:-------|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | | |\n| 4 | Revenues | | | | | | |\n| 5 | Investment banking | $ | 2,085 | | | $ | 1,578 |\n| 6 | Investment management | 2,491 | | | 2,289 | | |\n| 7 | Commissions and fees | 1,077 | | | 1,088 | | |\n| 8 | Market making | 5,992 | | | 5,433 | | |\n| 9 | Other principal transactions | 960 | | | 55 | | |\n| 10 | Total non-interest revenues | 12,605 | | | 10,443 | | |\n| 12 | Interest income | 19,555 | | | 14,938 | | |\n| 13 | Interest expense | 17,947 | | | 13,157 | | |\n| 14 | Net interest income | 1,608 | | | 1,781 | | |\n| 15 | Total net revenues | 14,213 | | | 12,224 | | |\n| 16 | Provision for credit losses | 318 | | | (171) | | |\n| 17 | Operating expenses | | | | | | |\n| 18 | Compensation and benefits | 4,585 | | | 4,090 | | |\n| 19 | Transaction based | 1,497 | | | 1,405 | | |\n| 20 | Market development | 153 | | | 172 | | |\n| 21 | Communications and technology | 470 | | | 466 | | |\n| 22 | Depreciation and amortization | 627 | | | 970 | | |\n| 23 | Occupancy | 247 | | | 265 | | |\n| 24 | Professional fees | 384 | | | 383 | | |\n| 25 | Other expenses | 695 | | | 651 | | |\n| 26 | Total operating expenses | 8,658 | | | 8,402 | | |\n| 28 | Pre-tax earnings | 5,237 | | | 3,993 | | |\n| 29 | Provision for taxes | 1,105 | | | 759 | | |\n| 30 | Net earnings | 4,132 | | | 3,234 | | |\n| 31 | Preferred stock dividends | 201 | | | 147 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 3,931 | | | $ | 3,087 |\n| 34 | Earnings per common share | | | | | | |\n| 35 | Basic | $ | 11.67 | | | $ | 8.87 |\n| 36 | Diluted | $ | 11.58 | | | $ | 8.79 |\n| 38 | Average common shares | | | | | | |\n| 39 | Basic | 335.6 | | 346.6 | | | |\n| 40 | Diluted | 339.5 | | 351.3 | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------------------|:------------------------|:------|:-----|:-----|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | | |\n| 4 | Net earnings | $ | 4,132 | | | $ | 3,234 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | |\n| 6 | Currency translation | 26 | | | (31) | | |\n| 7 | Debt valuation adjustment | (556) | | | (1) | | |\n| 8 | Pension and postretirement liabilities | 16 | | | 14 | | |\n| 9 | Available-for-sale securities | 115 | | | 427 | | |\n| 10 | Other comprehensive income\/(loss) | (399) | | | 409 | | |\n| 11 | Comprehensive income | $ | 3,733 | | | $ | 3,643 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:-----------------------------------|\n| 1 | 1 | Goldman Sachs March 2024 Form 10-Q |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------|:------------------------|:------|:------|:-------|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | | |\n| 4 | Revenues | | | | | | |\n| 5 | Investment banking | $ | 2,085 | | | $ | 1,578 |\n| 6 | Investment management | 2,491 | | | 2,289 | | |\n| 7 | Commissions and fees | 1,077 | | | 1,088 | | |\n| 8 | Market making | 5,992 | | | 5,433 | | |\n| 9 | Other principal transactions | 960 | | | 55 | | |\n| 10 | Total non-interest revenues | 12,605 | | | 10,443 | | |\n| 12 | Interest income | 19,555 | | | 14,938 | | |\n| 13 | Interest expense | 17,947 | | | 13,157 | | |\n| 14 | Net interest income | 1,608 | | | 1,781 | | |\n| 15 | Total net revenues | 14,213 | | | 12,224 | | |\n| 16 | Provision for credit losses | 318 | | | (171) | | |\n| 17 | Operating expenses | | | | | | |\n| 18 | Compensation and benefits | 4,585 | | | 4,090 | | |\n| 19 | Transaction based | 1,497 | | | 1,405 | | |\n| 20 | Market development | 153 | | | 172 | | |\n| 21 | Communications and technology | 470 | | | 466 | | |\n| 22 | Depreciation and amortization | 627 | | | 970 | | |\n| 23 | Occupancy | 247 | | | 265 | | |\n| 24 | Professional fees | 384 | | | 383 | | |\n| 25 | Other expenses | 695 | | | 651 | | |\n| 26 | Total operating expenses | 8,658 | | | 8,402 | | |\n| 28 | Pre-tax earnings | 5,237 | | | 3,993 | | |\n| 29 | Provision for taxes | 1,105 | | | 759 | | |\n| 30 | Net earnings | 4,132 | | | 3,234 | | |\n| 31 | Preferred stock dividends | 201 | | | 147 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 3,931 | | | $ | 3,087 |\n| 34 | Earnings per common share | | | | | | |\n| 35 | Basic | $ | 11.67 | | | $ | 8.87 |\n| 36 | Diluted | $ | 11.58 | | | $ | 8.79 |\n| 38 | Average common shares | | | | | | |\n| 39 | Basic | 335.6 | | 346.6 | | | |\n| 40 | Diluted | 339.5 | | 351.3 | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | |\n|---:|:-----------------------------------------------------------|:------------------------|:------|:-----|:-----|:---|:------|\n| 2 | | Three MonthsEnded March | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | | |\n| 4 | Net earnings | $ | 4,132 | | | $ | 3,234 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | |\n| 6 | Currency translation | 26 | | | (31) | | |\n| 7 | Debt valuation adjustment | (556) | | | (1) | | |\n| 8 | Pension and postretirement liabilities | 16 | | | 14 | | |\n| 9 | Available-for-sale securities | 115 | | | 427 | | |\n| 10 | Other comprehensive income\/(loss) | (399) | | | 409 | | |\n| 11 | Comprehensive income | $ | 3,733 | | | $ | 3,643 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:-----------------------------------|\n| 1 | 1 | Goldman Sachs March 2024 Form 10-Q |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>2,085 <\/td><\/td><\/td>$<\/td>1,578 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment management<\/td>2,491 <\/td><\/td><\/td>2,289 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and fees<\/td>1,077 <\/td><\/td><\/td>1,088 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market making<\/td>5,992 <\/td><\/td><\/td>5,433 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other principal transactions<\/td>960 <\/td><\/td><\/td>55 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total non-interest revenues<\/td>12,605 <\/td><\/td><\/td>10,443 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>19,555 <\/td><\/td><\/td>14,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>17,947 <\/td><\/td><\/td>13,157 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>1,608 <\/td><\/td><\/td>1,781 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenues<\/td>14,213 <\/td><\/td><\/td>12,224 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>318 <\/td><\/td><\/td>(171)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,585 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Transaction based<\/td>1,497 <\/td><\/td><\/td>1,405 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>172 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Communications and technology<\/td>470 <\/td><\/td><\/td>466 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>627 <\/td><\/td><\/td>970 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy<\/td>247 <\/td><\/td><\/td>265 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional fees<\/td>384 <\/td><\/td><\/td>383 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expenses<\/td>695 <\/td><\/td><\/td>651 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating expenses<\/td>8,658 <\/td><\/td><\/td>8,402 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>5,237 <\/td><\/td><\/td>3,993 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for taxes<\/td>1,105 <\/td><\/td><\/td>759 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>4,132 <\/td><\/td><\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Preferred stock dividends<\/td>201 <\/td><\/td><\/td>147 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>3,931 <\/td><\/td><\/td>$<\/td>3,087 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>11.67 <\/td><\/td><\/td>$<\/td>8.87 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.58 <\/td><\/td><\/td>$<\/td>8.79 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>335.6<\/td><\/td>346.6<\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>339.5<\/td><\/td>351.3<\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>$<\/td>4,132 <\/td><\/td><\/td>$<\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>26 <\/td><\/td><\/td>(31)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Debt valuation adjustment<\/td>(556)<\/td><\/td><\/td>(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>16 <\/td><\/td><\/td>14 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Available-for-sale securities<\/td>115 <\/td><\/td><\/td>427 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(399)<\/td><\/td><\/td>409 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,733 <\/td><\/td><\/td>$<\/td>3,643 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs March 2024 Form 10-Q<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>2,085 <\/td><\/td><\/td>$<\/td>1,578 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment management<\/td>2,491 <\/td><\/td><\/td>2,289 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and fees<\/td>1,077 <\/td><\/td><\/td>1,088 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market making<\/td>5,992 <\/td><\/td><\/td>5,433 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other principal transactions<\/td>960 <\/td><\/td><\/td>55 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total non-interest revenues<\/td>12,605 <\/td><\/td><\/td>10,443 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>19,555 <\/td><\/td><\/td>14,938 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>17,947 <\/td><\/td><\/td>13,157 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>1,608 <\/td><\/td><\/td>1,781 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenues<\/td>14,213 <\/td><\/td><\/td>12,224 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>318 <\/td><\/td><\/td>(171)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,585 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Transaction based<\/td>1,497 <\/td><\/td><\/td>1,405 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>172 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Communications and technology<\/td>470 <\/td><\/td><\/td>466 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>627 <\/td><\/td><\/td>970 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy<\/td>247 <\/td><\/td><\/td>265 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional fees<\/td>384 <\/td><\/td><\/td>383 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expenses<\/td>695 <\/td><\/td><\/td>651 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total operating expenses<\/td>8,658 <\/td><\/td><\/td>8,402 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>5,237 <\/td><\/td><\/td>3,993 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for taxes<\/td>1,105 <\/td><\/td><\/td>759 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>4,132 <\/td><\/td><\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Preferred stock dividends<\/td>201 <\/td><\/td><\/td>147 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>3,931 <\/td><\/td><\/td>$<\/td>3,087 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>11.67 <\/td><\/td><\/td>$<\/td>8.87 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>$<\/td>11.58 <\/td><\/td><\/td>$<\/td>8.79 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>335.6<\/td><\/td>346.6<\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted<\/td>339.5<\/td><\/td>351.3<\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded March<\/td><\/td><\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Net earnings<\/td>$<\/td>4,132 <\/td><\/td><\/td>$<\/td>3,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>26 <\/td><\/td><\/td>(31)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Debt valuation adjustment<\/td>(556)<\/td><\/td><\/td>(1)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>16 <\/td><\/td><\/td>14 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Available-for-sale securities<\/td>115 <\/td><\/td><\/td>427 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>(399)<\/td><\/td><\/td>409 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,733 <\/td><\/td><\/td>$<\/td>3,643 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs March 2024 Form 10-Q<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra076","Question":"What was the Financial Leverage Ratio for Goldman Sachs as of March 2024?","ground_truth_answer":"The Financial Leverage Ratio for Goldman Sachs as of March 2024 is calculated as follows:\nFinancial Leverage Ratio = Total Assets \/ Shareholders' Equity\nTotal Assets (2024) = $1,698,440 million\nShareholders' Equity (2024) = $118,546 million\nFinancial Leverage Ratio = 1,698,440 \/ 118,546 = 14.33","question_type":"Ratio","page_number":2,"accession_number":"0000886982-24-000016","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | March | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 209,385 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value) | 231,918 | | 223,805 | | |\n| 8 | Securities borrowed (includes $48,624 and $44,930 at fair value) | 214,913 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 160,419 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral) | 507,718 | | 477,510 | | |\n| 11 | Investments (includes $81,777 and $75,767 at fair value) | 154,900 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value) | 183,934 | | 183,358 | | |\n| 13 | Other assets (includes $248 and $366 at fair value) | 35,253 | | 36,590 | | |\n| 14 | Total assets | $ | 1,698,440 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $31,370 and $29,460 at fair value) | $ | 440,662 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 267,479 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,289 and $8,934 at fair value) | 66,261 | | 60,483 | | |\n| 21 | Other secured financings (includes $14,798 and $12,554 at fair value) | 15,052 | | 13,194 | | |\n| 22 | Customer and other payables | 256,662 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 201,142 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value) | 78,603 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value) | 233,919 | | 241,877 | | |\n| 26 | Other liabilities (includes $150 and $266 at fair value) | 20,114 | | 23,803 | | |\n| 27 | Total liabilities | 1,579,894 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $11,203 | 11,203 | | 11,203 | | |\n| 31 | Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 4,564 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,314 | | 60,247 | | |\n| 35 | Retained earnings | 146,690 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (3,317) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares | (101,917) | | (100,445) | | |\n| 38 | Total shareholders' equity | 118,546 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,698,440 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:-----------------------------------|---:|\n| 1 | Goldman Sachs March 2024 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | March | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 209,385 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value) | 231,918 | | 223,805 | | |\n| 8 | Securities borrowed (includes $48,624 and $44,930 at fair value) | 214,913 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 160,419 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral) | 507,718 | | 477,510 | | |\n| 11 | Investments (includes $81,777 and $75,767 at fair value) | 154,900 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value) | 183,934 | | 183,358 | | |\n| 13 | Other assets (includes $248 and $366 at fair value) | 35,253 | | 36,590 | | |\n| 14 | Total assets | $ | 1,698,440 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $31,370 and $29,460 at fair value) | $ | 440,662 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 267,479 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,289 and $8,934 at fair value) | 66,261 | | 60,483 | | |\n| 21 | Other secured financings (includes $14,798 and $12,554 at fair value) | 15,052 | | 13,194 | | |\n| 22 | Customer and other payables | 256,662 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 201,142 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value) | 78,603 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value) | 233,919 | | 241,877 | | |\n| 26 | Other liabilities (includes $150 and $266 at fair value) | 20,114 | | 23,803 | | |\n| 27 | Total liabilities | 1,579,894 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $11,203 | 11,203 | | 11,203 | | |\n| 31 | Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 4,564 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,314 | | 60,247 | | |\n| 35 | Retained earnings | 146,690 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (3,317) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares | (101,917) | | (100,445) | | |\n| 38 | Total shareholders' equity | 118,546 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,698,440 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:-----------------------------------|---:|\n| 1 | Goldman Sachs March 2024 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>March<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>209,385 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value)<\/td>231,918 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $48,624 and $44,930 at fair value)<\/td>214,913 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>160,419 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral)<\/td>507,718 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $81,777 and $75,767 at fair value)<\/td>154,900 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value)<\/td>183,934 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $248 and $366 at fair value)<\/td>35,253 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $31,370 and $29,460 at fair value)<\/td>$<\/td>440,662 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>267,479 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,289 and $8,934 at fair value)<\/td>66,261 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $14,798 and $12,554 at fair value)<\/td>15,052 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>256,662 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>201,142 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value)<\/td>78,603 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value)<\/td>233,919 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $150 and $266 at fair value)<\/td>20,114 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,579,894 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $11,203<\/td>11,203 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>4,564 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,314 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>146,690 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(3,317)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares<\/td>(101,917)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>118,546 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs March 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>March<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>209,385 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value)<\/td>231,918 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $48,624 and $44,930 at fair value)<\/td>214,913 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>160,419 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral)<\/td>507,718 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $81,777 and $75,767 at fair value)<\/td>154,900 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value)<\/td>183,934 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $248 and $366 at fair value)<\/td>35,253 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $31,370 and $29,460 at fair value)<\/td>$<\/td>440,662 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>267,479 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,289 and $8,934 at fair value)<\/td>66,261 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $14,798 and $12,554 at fair value)<\/td>15,052 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>256,662 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>201,142 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value)<\/td>78,603 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value)<\/td>233,919 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $150 and $266 at fair value)<\/td>20,114 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,579,894 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $11,203<\/td>11,203 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>4,564 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,314 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>146,690 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(3,317)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares<\/td>(101,917)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>118,546 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs March 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra077","Question":"What is Goldman Sachs' Long-term Debt to Capitalization Ratio as of March 2024?","ground_truth_answer":"The Long-term Debt to Capitalization Ratio for Goldman Sachs as of March 2024 is calculated as follows:\nLong-term Debt to Capitalization Ratio = Long-term Debt \/ (Long-term Debt + Shareholders' Equity)\nLong-term Debt (2024) = $233,919 million\nShareholders' Equity (2024) = $118,546 million\nLong-term Debt to Capitalization Ratio = 233,919 \/ (233,919 + 118,546) = 0.66","question_type":"Ratio","page_number":2,"accession_number":"0000886982-24-000016","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | March | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 209,385 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value) | 231,918 | | 223,805 | | |\n| 8 | Securities borrowed (includes $48,624 and $44,930 at fair value) | 214,913 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 160,419 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral) | 507,718 | | 477,510 | | |\n| 11 | Investments (includes $81,777 and $75,767 at fair value) | 154,900 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value) | 183,934 | | 183,358 | | |\n| 13 | Other assets (includes $248 and $366 at fair value) | 35,253 | | 36,590 | | |\n| 14 | Total assets | $ | 1,698,440 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $31,370 and $29,460 at fair value) | $ | 440,662 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 267,479 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,289 and $8,934 at fair value) | 66,261 | | 60,483 | | |\n| 21 | Other secured financings (includes $14,798 and $12,554 at fair value) | 15,052 | | 13,194 | | |\n| 22 | Customer and other payables | 256,662 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 201,142 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value) | 78,603 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value) | 233,919 | | 241,877 | | |\n| 26 | Other liabilities (includes $150 and $266 at fair value) | 20,114 | | 23,803 | | |\n| 27 | Total liabilities | 1,579,894 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $11,203 | 11,203 | | 11,203 | | |\n| 31 | Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 4,564 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,314 | | 60,247 | | |\n| 35 | Retained earnings | 146,690 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (3,317) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares | (101,917) | | (100,445) | | |\n| 38 | Total shareholders' equity | 118,546 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,698,440 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:-----------------------------------|---:|\n| 1 | Goldman Sachs March 2024 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | March | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 209,385 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value) | 231,918 | | 223,805 | | |\n| 8 | Securities borrowed (includes $48,624 and $44,930 at fair value) | 214,913 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 160,419 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral) | 507,718 | | 477,510 | | |\n| 11 | Investments (includes $81,777 and $75,767 at fair value) | 154,900 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value) | 183,934 | | 183,358 | | |\n| 13 | Other assets (includes $248 and $366 at fair value) | 35,253 | | 36,590 | | |\n| 14 | Total assets | $ | 1,698,440 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $31,370 and $29,460 at fair value) | $ | 440,662 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 267,479 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,289 and $8,934 at fair value) | 66,261 | | 60,483 | | |\n| 21 | Other secured financings (includes $14,798 and $12,554 at fair value) | 15,052 | | 13,194 | | |\n| 22 | Customer and other payables | 256,662 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 201,142 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value) | 78,603 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value) | 233,919 | | 241,877 | | |\n| 26 | Other liabilities (includes $150 and $266 at fair value) | 20,114 | | 23,803 | | |\n| 27 | Total liabilities | 1,579,894 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $11,203 | 11,203 | | 11,203 | | |\n| 31 | Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 4,564 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,314 | | 60,247 | | |\n| 35 | Retained earnings | 146,690 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (3,317) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares | (101,917) | | (100,445) | | |\n| 38 | Total shareholders' equity | 118,546 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,698,440 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:-----------------------------------|---:|\n| 1 | Goldman Sachs March 2024 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-03-31, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>March<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>209,385 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value)<\/td>231,918 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $48,624 and $44,930 at fair value)<\/td>214,913 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>160,419 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral)<\/td>507,718 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $81,777 and $75,767 at fair value)<\/td>154,900 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value)<\/td>183,934 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $248 and $366 at fair value)<\/td>35,253 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $31,370 and $29,460 at fair value)<\/td>$<\/td>440,662 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>267,479 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,289 and $8,934 at fair value)<\/td>66,261 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $14,798 and $12,554 at fair value)<\/td>15,052 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>256,662 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>201,142 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value)<\/td>78,603 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value)<\/td>233,919 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $150 and $266 at fair value)<\/td>20,114 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,579,894 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $11,203<\/td>11,203 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>4,564 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,314 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>146,690 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(3,317)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares<\/td>(101,917)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>118,546 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs March 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>March<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>209,385 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $231,655 and $223,543 at fair value)<\/td>231,918 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $48,624 and $44,930 at fair value)<\/td>214,913 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>160,419 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $113,748 and $110,567 pledged as collateral)<\/td>507,718 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $81,777 and $75,767 at fair value)<\/td>154,900 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,902 and $5,050, and includes $6,123 and $6,506 at fair value)<\/td>183,934 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $248 and $366 at fair value)<\/td>35,253 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $31,370 and $29,460 at fair value)<\/td>$<\/td>440,662 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>267,479 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,289 and $8,934 at fair value)<\/td>66,261 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $14,798 and $12,554 at fair value)<\/td>15,052 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>256,662 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>201,142 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $50,017 and $46,127 at fair value)<\/td>78,603 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $87,142 and $86,410 at fair value)<\/td>233,919 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $150 and $266 at fair value)<\/td>20,114 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,579,894 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $11,203<\/td>11,203 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,253,617 and 922,895,030 shares issued, and 324,014,481 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>4,564 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,314 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>146,690 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(3,317)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 603,239,138 and 599,518,678 shares<\/td>(101,917)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>118,546 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,698,440 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs March 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra078","Question":"For the half-year ending June 2024, what was Goldman Sachs' Return on Equity (ROE)?","ground_truth_answer":"The Return on Equity (ROE) for Goldman Sachs for the six months ended June 2024 is calculated as follows:\nROE = (Net Income \/ Shareholder's Equity) * 100\nNet Income (2024) = $7,175 million\nShareholder's Equity (2024) = $119,463 million\nROE = (7,175 \/ 119,463) * 100 = 6.01%","question_type":"Ratio","page_number":"1, 2","accession_number":"0000886982-24-000022","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-----------------------|:------|:---------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,733 | | | $ | 1,432 | | $ | 3,818 | $ | 3,010 |\n| 6 | Investment management | 2,533 | | | 2,356 | | | 5,024 | | 4,645 | | |\n| 7 | Commissions and fees | 1,051 | | | 893 | | | 2,128 | | 1,981 | | |\n| 8 | Market making | 4,225 | | | 4,351 | | | 10,217 | | 9,784 | | |\n| 9 | Other principal transactions | 947 | | | 179 | | | 1,907 | | 234 | | |\n| 10 | Total non-interest revenues | 10,489 | | | 9,211 | | | 23,094 | | 19,654 | | |\n| 12 | Interest income | 20,440 | | | 16,836 | | | 39,995 | | 31,774 | | |\n| 13 | Interest expense | 18,198 | | | 15,152 | | | 36,145 | | 28,309 | | |\n| 14 | Net interest income | 2,242 | | | 1,684 | | | 3,850 | | 3,465 | | |\n| 15 | Total net revenues | 12,731 | | | 10,895 | | | 26,944 | | 23,119 | | |\n| 16 | Provision for credit losses | 282 | | | 615 | | | 600 | | 444 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,240 | | | 3,619 | | | 8,825 | | 7,709 | | |\n| 19 | Transaction based | 1,654 | | | 1,385 | | | 3,151 | | 2,790 | | |\n| 20 | Market development | 153 | | | 146 | | | 306 | | 318 | | |\n| 21 | Communications and technology | 500 | | | 482 | | | 970 | | 948 | | |\n| 22 | Depreciation and amortization | 646 | | | 1,594 | | | 1,273 | | 2,564 | | |\n| 23 | Occupancy | 244 | | | 253 | | | 491 | | 518 | | |\n| 24 | Professional fees | 393 | | | 392 | | | 777 | | 775 | | |\n| 25 | Other expenses | 703 | | | 673 | | | 1,398 | | 1,324 | | |\n| 26 | Total operating expenses | 8,533 | | | 8,544 | | | 17,191 | | 16,946 | | |\n| 28 | Pre-tax earnings | 3,916 | | | 1,736 | | | 9,153 | | 5,729 | | |\n| 29 | Provision for taxes | 873 | | | 520 | | | 1,978 | | 1,279 | | |\n| 30 | Net earnings | 3,043 | | | 1,216 | | | 7,175 | | 4,450 | | |\n| 31 | Preferred stock dividends | 152 | | | 145 | | | 353 | | 292 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 2,891 | | | $ | 1,071 | | $ | 6,822 | $ | 4,158 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 8.73 | | | $ | 3.09 | | $ | 20.44 | $ | 12.00 |\n| 36 | Diluted | $ | 8.62 | | | $ | 3.08 | | $ | 20.21 | $ | 11.91 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 329.8 | | 342.3 | | 332.6 | | 344.4 | | | | |\n| 40 | Diluted | 335.5 | | 347.2 | | 337.5 | | 349.2 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:-----------------------|:------|:---------------------|:------|:-----|:------|:------|:---|:------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Net earnings | $ | 3,043 | | | $ | 1,216 | | $ | 7,175 | $ | 4,450 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (4) | | | (12) | | | 22 | | (43) | | |\n| 7 | Debt valuation adjustment | 268 | | | (610) | | | (288) | | (611) | | |\n| 8 | Pension and postretirement liabilities | 6 | | | 10 | | | 22 | | 24 | | |\n| 9 | Available-for-sale securities | 147 | | | (24) | | | 262 | | 403 | | |\n| 10 | Other comprehensive income\/(loss) | 417 | | | (636) | | | 18 | | (227) | | |\n| 11 | Comprehensive income | $ | 3,460 | | | $ | 580 | | $ | 7,193 | $ | 4,223 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:----------------------------------|\n| 1 | 1 | Goldman Sachs June 2024 Form 10-Q |\n\n, GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-----------------------|:------|:---------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,733 | | | $ | 1,432 | | $ | 3,818 | $ | 3,010 |\n| 6 | Investment management | 2,533 | | | 2,356 | | | 5,024 | | 4,645 | | |\n| 7 | Commissions and fees | 1,051 | | | 893 | | | 2,128 | | 1,981 | | |\n| 8 | Market making | 4,225 | | | 4,351 | | | 10,217 | | 9,784 | | |\n| 9 | Other principal transactions | 947 | | | 179 | | | 1,907 | | 234 | | |\n| 10 | Total non-interest revenues | 10,489 | | | 9,211 | | | 23,094 | | 19,654 | | |\n| 12 | Interest income | 20,440 | | | 16,836 | | | 39,995 | | 31,774 | | |\n| 13 | Interest expense | 18,198 | | | 15,152 | | | 36,145 | | 28,309 | | |\n| 14 | Net interest income | 2,242 | | | 1,684 | | | 3,850 | | 3,465 | | |\n| 15 | Total net revenues | 12,731 | | | 10,895 | | | 26,944 | | 23,119 | | |\n| 16 | Provision for credit losses | 282 | | | 615 | | | 600 | | 444 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,240 | | | 3,619 | | | 8,825 | | 7,709 | | |\n| 19 | Transaction based | 1,654 | | | 1,385 | | | 3,151 | | 2,790 | | |\n| 20 | Market development | 153 | | | 146 | | | 306 | | 318 | | |\n| 21 | Communications and technology | 500 | | | 482 | | | 970 | | 948 | | |\n| 22 | Depreciation and amortization | 646 | | | 1,594 | | | 1,273 | | 2,564 | | |\n| 23 | Occupancy | 244 | | | 253 | | | 491 | | 518 | | |\n| 24 | Professional fees | 393 | | | 392 | | | 777 | | 775 | | |\n| 25 | Other expenses | 703 | | | 673 | | | 1,398 | | 1,324 | | |\n| 26 | Total operating expenses | 8,533 | | | 8,544 | | | 17,191 | | 16,946 | | |\n| 28 | Pre-tax earnings | 3,916 | | | 1,736 | | | 9,153 | | 5,729 | | |\n| 29 | Provision for taxes | 873 | | | 520 | | | 1,978 | | 1,279 | | |\n| 30 | Net earnings | 3,043 | | | 1,216 | | | 7,175 | | 4,450 | | |\n| 31 | Preferred stock dividends | 152 | | | 145 | | | 353 | | 292 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 2,891 | | | $ | 1,071 | | $ | 6,822 | $ | 4,158 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 8.73 | | | $ | 3.09 | | $ | 20.44 | $ | 12.00 |\n| 36 | Diluted | $ | 8.62 | | | $ | 3.08 | | $ | 20.21 | $ | 11.91 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 329.8 | | 342.3 | | 332.6 | | 344.4 | | | | |\n| 40 | Diluted | 335.5 | | 347.2 | | 337.5 | | 349.2 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:-----------------------|:------|:---------------------|:------|:-----|:------|:------|:---|:------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Net earnings | $ | 3,043 | | | $ | 1,216 | | $ | 7,175 | $ | 4,450 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (4) | | | (12) | | | 22 | | (43) | | |\n| 7 | Debt valuation adjustment | 268 | | | (610) | | | (288) | | (611) | | |\n| 8 | Pension and postretirement liabilities | 6 | | | 10 | | | 22 | | 24 | | |\n| 9 | Available-for-sale securities | 147 | | | (24) | | | 262 | | 403 | | |\n| 10 | Other comprehensive income\/(loss) | 417 | | | (636) | | | 18 | | (227) | | |\n| 11 | Comprehensive income | $ | 3,460 | | | $ | 580 | | $ | 7,193 | $ | 4,223 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:----------------------------------|\n| 1 | 1 | Goldman Sachs June 2024 Form 10-Q |\n\n, \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,733 <\/td><\/td><\/td>$<\/td>1,432 <\/td><\/td><\/td>$<\/td>3,818 <\/td><\/td><\/td>$<\/td>3,010 <\/td><\/td><\/tr>
Investment management<\/td>2,533 <\/td><\/td><\/td>2,356 <\/td><\/td><\/td>5,024 <\/td><\/td><\/td>4,645 <\/td><\/td><\/tr>
Commissions and fees<\/td>1,051 <\/td><\/td><\/td>893 <\/td><\/td><\/td>2,128 <\/td><\/td><\/td>1,981 <\/td><\/td><\/tr>
Market making<\/td>4,225 <\/td><\/td><\/td>4,351 <\/td><\/td><\/td>10,217 <\/td><\/td><\/td>9,784 <\/td><\/td><\/tr>
Other principal transactions<\/td>947 <\/td><\/td><\/td>179 <\/td><\/td><\/td>1,907 <\/td><\/td><\/td>234 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,489 <\/td><\/td><\/td>9,211 <\/td><\/td><\/td>23,094 <\/td><\/td><\/td>19,654 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>20,440 <\/td><\/td><\/td>16,836 <\/td><\/td><\/td>39,995 <\/td><\/td><\/td>31,774 <\/td><\/td><\/tr>
Interest expense<\/td>18,198 <\/td><\/td><\/td>15,152 <\/td><\/td><\/td>36,145 <\/td><\/td><\/td>28,309 <\/td><\/td><\/tr>
Net interest income<\/td>2,242 <\/td><\/td><\/td>1,684 <\/td><\/td><\/td>3,850 <\/td><\/td><\/td>3,465 <\/td><\/td><\/tr>
Total net revenues<\/td>12,731 <\/td><\/td><\/td>10,895 <\/td><\/td><\/td>26,944 <\/td><\/td><\/td>23,119 <\/td><\/td><\/tr>
Provision for credit losses<\/td>282 <\/td><\/td><\/td>615 <\/td><\/td><\/td>600 <\/td><\/td><\/td>444 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,240 <\/td><\/td><\/td>3,619 <\/td><\/td><\/td>8,825 <\/td><\/td><\/td>7,709 <\/td><\/td><\/tr>
Transaction based<\/td>1,654 <\/td><\/td><\/td>1,385 <\/td><\/td><\/td>3,151 <\/td><\/td><\/td>2,790 <\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>146 <\/td><\/td><\/td>306 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Communications and technology<\/td>500 <\/td><\/td><\/td>482 <\/td><\/td><\/td>970 <\/td><\/td><\/td>948 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>646 <\/td><\/td><\/td>1,594 <\/td><\/td><\/td>1,273 <\/td><\/td><\/td>2,564 <\/td><\/td><\/tr>
Occupancy<\/td>244 <\/td><\/td><\/td>253 <\/td><\/td><\/td>491 <\/td><\/td><\/td>518 <\/td><\/td><\/tr>
Professional fees<\/td>393 <\/td><\/td><\/td>392 <\/td><\/td><\/td>777 <\/td><\/td><\/td>775 <\/td><\/td><\/tr>
Other expenses<\/td>703 <\/td><\/td><\/td>673 <\/td><\/td><\/td>1,398 <\/td><\/td><\/td>1,324 <\/td><\/td><\/tr>
Total operating expenses<\/td>8,533 <\/td><\/td><\/td>8,544 <\/td><\/td><\/td>17,191 <\/td><\/td><\/td>16,946 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>3,916 <\/td><\/td><\/td>1,736 <\/td><\/td><\/td>9,153 <\/td><\/td><\/td>5,729 <\/td><\/td><\/tr>
Provision for taxes<\/td>873 <\/td><\/td><\/td>520 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>1,279 <\/td><\/td><\/tr>
Net earnings<\/td>3,043 <\/td><\/td><\/td>1,216 <\/td><\/td><\/td>7,175 <\/td><\/td><\/td>4,450 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>152 <\/td><\/td><\/td>145 <\/td><\/td><\/td>353 <\/td><\/td><\/td>292 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>2,891 <\/td><\/td><\/td>$<\/td>1,071 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/td>$<\/td>4,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>8.73 <\/td><\/td><\/td>$<\/td>3.09 <\/td><\/td><\/td>$<\/td>20.44 <\/td><\/td><\/td>$<\/td>12.00 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>8.62 <\/td><\/td><\/td>$<\/td>3.08 <\/td><\/td><\/td>$<\/td>20.21 <\/td><\/td><\/td>$<\/td>11.91 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>329.8<\/td><\/td>342.3<\/td><\/td>332.6<\/td><\/td>344.4<\/td><\/tr>
Diluted<\/td>335.5<\/td><\/td>347.2<\/td><\/td>337.5<\/td><\/td>349.2<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net earnings<\/td>$<\/td>3,043 <\/td><\/td><\/td>$<\/td>1,216 <\/td><\/td><\/td>$<\/td>7,175 <\/td><\/td><\/td>$<\/td>4,450 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(4)<\/td><\/td><\/td>(12)<\/td><\/td><\/td>22 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>268 <\/td><\/td><\/td>(610)<\/td><\/td><\/td>(288)<\/td><\/td><\/td>(611)<\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>6 <\/td><\/td><\/td>10 <\/td><\/td><\/td>22 <\/td><\/td><\/td>24 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>147 <\/td><\/td><\/td>(24)<\/td><\/td><\/td>262 <\/td><\/td><\/td>403 <\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>417 <\/td><\/td><\/td>(636)<\/td><\/td><\/td>18 <\/td><\/td><\/td>(227)<\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,460 <\/td><\/td><\/td>$<\/td>580 <\/td><\/td><\/td>$<\/td>7,193 <\/td><\/td><\/td>$<\/td>4,223 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs June 2024 Form 10-Q<\/td><\/tr><\/table>\n, GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,733 <\/td><\/td><\/td>$<\/td>1,432 <\/td><\/td><\/td>$<\/td>3,818 <\/td><\/td><\/td>$<\/td>3,010 <\/td><\/td><\/tr>
Investment management<\/td>2,533 <\/td><\/td><\/td>2,356 <\/td><\/td><\/td>5,024 <\/td><\/td><\/td>4,645 <\/td><\/td><\/tr>
Commissions and fees<\/td>1,051 <\/td><\/td><\/td>893 <\/td><\/td><\/td>2,128 <\/td><\/td><\/td>1,981 <\/td><\/td><\/tr>
Market making<\/td>4,225 <\/td><\/td><\/td>4,351 <\/td><\/td><\/td>10,217 <\/td><\/td><\/td>9,784 <\/td><\/td><\/tr>
Other principal transactions<\/td>947 <\/td><\/td><\/td>179 <\/td><\/td><\/td>1,907 <\/td><\/td><\/td>234 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,489 <\/td><\/td><\/td>9,211 <\/td><\/td><\/td>23,094 <\/td><\/td><\/td>19,654 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>20,440 <\/td><\/td><\/td>16,836 <\/td><\/td><\/td>39,995 <\/td><\/td><\/td>31,774 <\/td><\/td><\/tr>
Interest expense<\/td>18,198 <\/td><\/td><\/td>15,152 <\/td><\/td><\/td>36,145 <\/td><\/td><\/td>28,309 <\/td><\/td><\/tr>
Net interest income<\/td>2,242 <\/td><\/td><\/td>1,684 <\/td><\/td><\/td>3,850 <\/td><\/td><\/td>3,465 <\/td><\/td><\/tr>
Total net revenues<\/td>12,731 <\/td><\/td><\/td>10,895 <\/td><\/td><\/td>26,944 <\/td><\/td><\/td>23,119 <\/td><\/td><\/tr>
Provision for credit losses<\/td>282 <\/td><\/td><\/td>615 <\/td><\/td><\/td>600 <\/td><\/td><\/td>444 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,240 <\/td><\/td><\/td>3,619 <\/td><\/td><\/td>8,825 <\/td><\/td><\/td>7,709 <\/td><\/td><\/tr>
Transaction based<\/td>1,654 <\/td><\/td><\/td>1,385 <\/td><\/td><\/td>3,151 <\/td><\/td><\/td>2,790 <\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>146 <\/td><\/td><\/td>306 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Communications and technology<\/td>500 <\/td><\/td><\/td>482 <\/td><\/td><\/td>970 <\/td><\/td><\/td>948 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>646 <\/td><\/td><\/td>1,594 <\/td><\/td><\/td>1,273 <\/td><\/td><\/td>2,564 <\/td><\/td><\/tr>
Occupancy<\/td>244 <\/td><\/td><\/td>253 <\/td><\/td><\/td>491 <\/td><\/td><\/td>518 <\/td><\/td><\/tr>
Professional fees<\/td>393 <\/td><\/td><\/td>392 <\/td><\/td><\/td>777 <\/td><\/td><\/td>775 <\/td><\/td><\/tr>
Other expenses<\/td>703 <\/td><\/td><\/td>673 <\/td><\/td><\/td>1,398 <\/td><\/td><\/td>1,324 <\/td><\/td><\/tr>
Total operating expenses<\/td>8,533 <\/td><\/td><\/td>8,544 <\/td><\/td><\/td>17,191 <\/td><\/td><\/td>16,946 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>3,916 <\/td><\/td><\/td>1,736 <\/td><\/td><\/td>9,153 <\/td><\/td><\/td>5,729 <\/td><\/td><\/tr>
Provision for taxes<\/td>873 <\/td><\/td><\/td>520 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>1,279 <\/td><\/td><\/tr>
Net earnings<\/td>3,043 <\/td><\/td><\/td>1,216 <\/td><\/td><\/td>7,175 <\/td><\/td><\/td>4,450 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>152 <\/td><\/td><\/td>145 <\/td><\/td><\/td>353 <\/td><\/td><\/td>292 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>2,891 <\/td><\/td><\/td>$<\/td>1,071 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/td>$<\/td>4,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>8.73 <\/td><\/td><\/td>$<\/td>3.09 <\/td><\/td><\/td>$<\/td>20.44 <\/td><\/td><\/td>$<\/td>12.00 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>8.62 <\/td><\/td><\/td>$<\/td>3.08 <\/td><\/td><\/td>$<\/td>20.21 <\/td><\/td><\/td>$<\/td>11.91 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>329.8<\/td><\/td>342.3<\/td><\/td>332.6<\/td><\/td>344.4<\/td><\/tr>
Diluted<\/td>335.5<\/td><\/td>347.2<\/td><\/td>337.5<\/td><\/td>349.2<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net earnings<\/td>$<\/td>3,043 <\/td><\/td><\/td>$<\/td>1,216 <\/td><\/td><\/td>$<\/td>7,175 <\/td><\/td><\/td>$<\/td>4,450 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(4)<\/td><\/td><\/td>(12)<\/td><\/td><\/td>22 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>268 <\/td><\/td><\/td>(610)<\/td><\/td><\/td>(288)<\/td><\/td><\/td>(611)<\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>6 <\/td><\/td><\/td>10 <\/td><\/td><\/td>22 <\/td><\/td><\/td>24 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>147 <\/td><\/td><\/td>(24)<\/td><\/td><\/td>262 <\/td><\/td><\/td>403 <\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>417 <\/td><\/td><\/td>(636)<\/td><\/td><\/td>18 <\/td><\/td><\/td>(227)<\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,460 <\/td><\/td><\/td>$<\/td>580 <\/td><\/td><\/td>$<\/td>7,193 <\/td><\/td><\/td>$<\/td>4,223 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs June 2024 Form 10-Q<\/td><\/tr><\/table>\n, \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra079","Question":"Could you provide the Return on Assets (ROA) for Goldman Sachs over the six months ending June 2024?","ground_truth_answer":"The Return on Assets (ROA) for Goldman Sachs for the six months ended June 2024 is calculated as follows:\nROA = (Net Income \/ Total Assets) * 100\nNet Income (2024) = $7,175 million\nTotal Assets (2024) = $1,653,313 million\nROA = (7,175 \/ 1,653,313) * 100 = 0.43%","question_type":"Ratio","page_number":"1, 2","accession_number":"0000886982-24-000022","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-----------------------|:------|:---------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,733 | | | $ | 1,432 | | $ | 3,818 | $ | 3,010 |\n| 6 | Investment management | 2,533 | | | 2,356 | | | 5,024 | | 4,645 | | |\n| 7 | Commissions and fees | 1,051 | | | 893 | | | 2,128 | | 1,981 | | |\n| 8 | Market making | 4,225 | | | 4,351 | | | 10,217 | | 9,784 | | |\n| 9 | Other principal transactions | 947 | | | 179 | | | 1,907 | | 234 | | |\n| 10 | Total non-interest revenues | 10,489 | | | 9,211 | | | 23,094 | | 19,654 | | |\n| 12 | Interest income | 20,440 | | | 16,836 | | | 39,995 | | 31,774 | | |\n| 13 | Interest expense | 18,198 | | | 15,152 | | | 36,145 | | 28,309 | | |\n| 14 | Net interest income | 2,242 | | | 1,684 | | | 3,850 | | 3,465 | | |\n| 15 | Total net revenues | 12,731 | | | 10,895 | | | 26,944 | | 23,119 | | |\n| 16 | Provision for credit losses | 282 | | | 615 | | | 600 | | 444 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,240 | | | 3,619 | | | 8,825 | | 7,709 | | |\n| 19 | Transaction based | 1,654 | | | 1,385 | | | 3,151 | | 2,790 | | |\n| 20 | Market development | 153 | | | 146 | | | 306 | | 318 | | |\n| 21 | Communications and technology | 500 | | | 482 | | | 970 | | 948 | | |\n| 22 | Depreciation and amortization | 646 | | | 1,594 | | | 1,273 | | 2,564 | | |\n| 23 | Occupancy | 244 | | | 253 | | | 491 | | 518 | | |\n| 24 | Professional fees | 393 | | | 392 | | | 777 | | 775 | | |\n| 25 | Other expenses | 703 | | | 673 | | | 1,398 | | 1,324 | | |\n| 26 | Total operating expenses | 8,533 | | | 8,544 | | | 17,191 | | 16,946 | | |\n| 28 | Pre-tax earnings | 3,916 | | | 1,736 | | | 9,153 | | 5,729 | | |\n| 29 | Provision for taxes | 873 | | | 520 | | | 1,978 | | 1,279 | | |\n| 30 | Net earnings | 3,043 | | | 1,216 | | | 7,175 | | 4,450 | | |\n| 31 | Preferred stock dividends | 152 | | | 145 | | | 353 | | 292 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 2,891 | | | $ | 1,071 | | $ | 6,822 | $ | 4,158 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 8.73 | | | $ | 3.09 | | $ | 20.44 | $ | 12.00 |\n| 36 | Diluted | $ | 8.62 | | | $ | 3.08 | | $ | 20.21 | $ | 11.91 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 329.8 | | 342.3 | | 332.6 | | 344.4 | | | | |\n| 40 | Diluted | 335.5 | | 347.2 | | 337.5 | | 349.2 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:-----------------------|:------|:---------------------|:------|:-----|:------|:------|:---|:------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Net earnings | $ | 3,043 | | | $ | 1,216 | | $ | 7,175 | $ | 4,450 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (4) | | | (12) | | | 22 | | (43) | | |\n| 7 | Debt valuation adjustment | 268 | | | (610) | | | (288) | | (611) | | |\n| 8 | Pension and postretirement liabilities | 6 | | | 10 | | | 22 | | 24 | | |\n| 9 | Available-for-sale securities | 147 | | | (24) | | | 262 | | 403 | | |\n| 10 | Other comprehensive income\/(loss) | 417 | | | (636) | | | 18 | | (227) | | |\n| 11 | Comprehensive income | $ | 3,460 | | | $ | 580 | | $ | 7,193 | $ | 4,223 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:----------------------------------|\n| 1 | 1 | Goldman Sachs June 2024 Form 10-Q |\n\n, GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-----------------------|:------|:---------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,733 | | | $ | 1,432 | | $ | 3,818 | $ | 3,010 |\n| 6 | Investment management | 2,533 | | | 2,356 | | | 5,024 | | 4,645 | | |\n| 7 | Commissions and fees | 1,051 | | | 893 | | | 2,128 | | 1,981 | | |\n| 8 | Market making | 4,225 | | | 4,351 | | | 10,217 | | 9,784 | | |\n| 9 | Other principal transactions | 947 | | | 179 | | | 1,907 | | 234 | | |\n| 10 | Total non-interest revenues | 10,489 | | | 9,211 | | | 23,094 | | 19,654 | | |\n| 12 | Interest income | 20,440 | | | 16,836 | | | 39,995 | | 31,774 | | |\n| 13 | Interest expense | 18,198 | | | 15,152 | | | 36,145 | | 28,309 | | |\n| 14 | Net interest income | 2,242 | | | 1,684 | | | 3,850 | | 3,465 | | |\n| 15 | Total net revenues | 12,731 | | | 10,895 | | | 26,944 | | 23,119 | | |\n| 16 | Provision for credit losses | 282 | | | 615 | | | 600 | | 444 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,240 | | | 3,619 | | | 8,825 | | 7,709 | | |\n| 19 | Transaction based | 1,654 | | | 1,385 | | | 3,151 | | 2,790 | | |\n| 20 | Market development | 153 | | | 146 | | | 306 | | 318 | | |\n| 21 | Communications and technology | 500 | | | 482 | | | 970 | | 948 | | |\n| 22 | Depreciation and amortization | 646 | | | 1,594 | | | 1,273 | | 2,564 | | |\n| 23 | Occupancy | 244 | | | 253 | | | 491 | | 518 | | |\n| 24 | Professional fees | 393 | | | 392 | | | 777 | | 775 | | |\n| 25 | Other expenses | 703 | | | 673 | | | 1,398 | | 1,324 | | |\n| 26 | Total operating expenses | 8,533 | | | 8,544 | | | 17,191 | | 16,946 | | |\n| 28 | Pre-tax earnings | 3,916 | | | 1,736 | | | 9,153 | | 5,729 | | |\n| 29 | Provision for taxes | 873 | | | 520 | | | 1,978 | | 1,279 | | |\n| 30 | Net earnings | 3,043 | | | 1,216 | | | 7,175 | | 4,450 | | |\n| 31 | Preferred stock dividends | 152 | | | 145 | | | 353 | | 292 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 2,891 | | | $ | 1,071 | | $ | 6,822 | $ | 4,158 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 8.73 | | | $ | 3.09 | | $ | 20.44 | $ | 12.00 |\n| 36 | Diluted | $ | 8.62 | | | $ | 3.08 | | $ | 20.21 | $ | 11.91 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 329.8 | | 342.3 | | 332.6 | | 344.4 | | | | |\n| 40 | Diluted | 335.5 | | 347.2 | | 337.5 | | 349.2 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:-----------------------|:------|:---------------------|:------|:-----|:------|:------|:---|:------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Net earnings | $ | 3,043 | | | $ | 1,216 | | $ | 7,175 | $ | 4,450 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (4) | | | (12) | | | 22 | | (43) | | |\n| 7 | Debt valuation adjustment | 268 | | | (610) | | | (288) | | (611) | | |\n| 8 | Pension and postretirement liabilities | 6 | | | 10 | | | 22 | | 24 | | |\n| 9 | Available-for-sale securities | 147 | | | (24) | | | 262 | | 403 | | |\n| 10 | Other comprehensive income\/(loss) | 417 | | | (636) | | | 18 | | (227) | | |\n| 11 | Comprehensive income | $ | 3,460 | | | $ | 580 | | $ | 7,193 | $ | 4,223 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:----------------------------------|\n| 1 | 1 | Goldman Sachs June 2024 Form 10-Q |\n\n, \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,733 <\/td><\/td><\/td>$<\/td>1,432 <\/td><\/td><\/td>$<\/td>3,818 <\/td><\/td><\/td>$<\/td>3,010 <\/td><\/td><\/tr>
Investment management<\/td>2,533 <\/td><\/td><\/td>2,356 <\/td><\/td><\/td>5,024 <\/td><\/td><\/td>4,645 <\/td><\/td><\/tr>
Commissions and fees<\/td>1,051 <\/td><\/td><\/td>893 <\/td><\/td><\/td>2,128 <\/td><\/td><\/td>1,981 <\/td><\/td><\/tr>
Market making<\/td>4,225 <\/td><\/td><\/td>4,351 <\/td><\/td><\/td>10,217 <\/td><\/td><\/td>9,784 <\/td><\/td><\/tr>
Other principal transactions<\/td>947 <\/td><\/td><\/td>179 <\/td><\/td><\/td>1,907 <\/td><\/td><\/td>234 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,489 <\/td><\/td><\/td>9,211 <\/td><\/td><\/td>23,094 <\/td><\/td><\/td>19,654 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>20,440 <\/td><\/td><\/td>16,836 <\/td><\/td><\/td>39,995 <\/td><\/td><\/td>31,774 <\/td><\/td><\/tr>
Interest expense<\/td>18,198 <\/td><\/td><\/td>15,152 <\/td><\/td><\/td>36,145 <\/td><\/td><\/td>28,309 <\/td><\/td><\/tr>
Net interest income<\/td>2,242 <\/td><\/td><\/td>1,684 <\/td><\/td><\/td>3,850 <\/td><\/td><\/td>3,465 <\/td><\/td><\/tr>
Total net revenues<\/td>12,731 <\/td><\/td><\/td>10,895 <\/td><\/td><\/td>26,944 <\/td><\/td><\/td>23,119 <\/td><\/td><\/tr>
Provision for credit losses<\/td>282 <\/td><\/td><\/td>615 <\/td><\/td><\/td>600 <\/td><\/td><\/td>444 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,240 <\/td><\/td><\/td>3,619 <\/td><\/td><\/td>8,825 <\/td><\/td><\/td>7,709 <\/td><\/td><\/tr>
Transaction based<\/td>1,654 <\/td><\/td><\/td>1,385 <\/td><\/td><\/td>3,151 <\/td><\/td><\/td>2,790 <\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>146 <\/td><\/td><\/td>306 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Communications and technology<\/td>500 <\/td><\/td><\/td>482 <\/td><\/td><\/td>970 <\/td><\/td><\/td>948 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>646 <\/td><\/td><\/td>1,594 <\/td><\/td><\/td>1,273 <\/td><\/td><\/td>2,564 <\/td><\/td><\/tr>
Occupancy<\/td>244 <\/td><\/td><\/td>253 <\/td><\/td><\/td>491 <\/td><\/td><\/td>518 <\/td><\/td><\/tr>
Professional fees<\/td>393 <\/td><\/td><\/td>392 <\/td><\/td><\/td>777 <\/td><\/td><\/td>775 <\/td><\/td><\/tr>
Other expenses<\/td>703 <\/td><\/td><\/td>673 <\/td><\/td><\/td>1,398 <\/td><\/td><\/td>1,324 <\/td><\/td><\/tr>
Total operating expenses<\/td>8,533 <\/td><\/td><\/td>8,544 <\/td><\/td><\/td>17,191 <\/td><\/td><\/td>16,946 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>3,916 <\/td><\/td><\/td>1,736 <\/td><\/td><\/td>9,153 <\/td><\/td><\/td>5,729 <\/td><\/td><\/tr>
Provision for taxes<\/td>873 <\/td><\/td><\/td>520 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>1,279 <\/td><\/td><\/tr>
Net earnings<\/td>3,043 <\/td><\/td><\/td>1,216 <\/td><\/td><\/td>7,175 <\/td><\/td><\/td>4,450 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>152 <\/td><\/td><\/td>145 <\/td><\/td><\/td>353 <\/td><\/td><\/td>292 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>2,891 <\/td><\/td><\/td>$<\/td>1,071 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/td>$<\/td>4,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>8.73 <\/td><\/td><\/td>$<\/td>3.09 <\/td><\/td><\/td>$<\/td>20.44 <\/td><\/td><\/td>$<\/td>12.00 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>8.62 <\/td><\/td><\/td>$<\/td>3.08 <\/td><\/td><\/td>$<\/td>20.21 <\/td><\/td><\/td>$<\/td>11.91 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>329.8<\/td><\/td>342.3<\/td><\/td>332.6<\/td><\/td>344.4<\/td><\/tr>
Diluted<\/td>335.5<\/td><\/td>347.2<\/td><\/td>337.5<\/td><\/td>349.2<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net earnings<\/td>$<\/td>3,043 <\/td><\/td><\/td>$<\/td>1,216 <\/td><\/td><\/td>$<\/td>7,175 <\/td><\/td><\/td>$<\/td>4,450 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(4)<\/td><\/td><\/td>(12)<\/td><\/td><\/td>22 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>268 <\/td><\/td><\/td>(610)<\/td><\/td><\/td>(288)<\/td><\/td><\/td>(611)<\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>6 <\/td><\/td><\/td>10 <\/td><\/td><\/td>22 <\/td><\/td><\/td>24 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>147 <\/td><\/td><\/td>(24)<\/td><\/td><\/td>262 <\/td><\/td><\/td>403 <\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>417 <\/td><\/td><\/td>(636)<\/td><\/td><\/td>18 <\/td><\/td><\/td>(227)<\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,460 <\/td><\/td><\/td>$<\/td>580 <\/td><\/td><\/td>$<\/td>7,193 <\/td><\/td><\/td>$<\/td>4,223 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs June 2024 Form 10-Q<\/td><\/tr><\/table>\n, GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,733 <\/td><\/td><\/td>$<\/td>1,432 <\/td><\/td><\/td>$<\/td>3,818 <\/td><\/td><\/td>$<\/td>3,010 <\/td><\/td><\/tr>
Investment management<\/td>2,533 <\/td><\/td><\/td>2,356 <\/td><\/td><\/td>5,024 <\/td><\/td><\/td>4,645 <\/td><\/td><\/tr>
Commissions and fees<\/td>1,051 <\/td><\/td><\/td>893 <\/td><\/td><\/td>2,128 <\/td><\/td><\/td>1,981 <\/td><\/td><\/tr>
Market making<\/td>4,225 <\/td><\/td><\/td>4,351 <\/td><\/td><\/td>10,217 <\/td><\/td><\/td>9,784 <\/td><\/td><\/tr>
Other principal transactions<\/td>947 <\/td><\/td><\/td>179 <\/td><\/td><\/td>1,907 <\/td><\/td><\/td>234 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,489 <\/td><\/td><\/td>9,211 <\/td><\/td><\/td>23,094 <\/td><\/td><\/td>19,654 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>20,440 <\/td><\/td><\/td>16,836 <\/td><\/td><\/td>39,995 <\/td><\/td><\/td>31,774 <\/td><\/td><\/tr>
Interest expense<\/td>18,198 <\/td><\/td><\/td>15,152 <\/td><\/td><\/td>36,145 <\/td><\/td><\/td>28,309 <\/td><\/td><\/tr>
Net interest income<\/td>2,242 <\/td><\/td><\/td>1,684 <\/td><\/td><\/td>3,850 <\/td><\/td><\/td>3,465 <\/td><\/td><\/tr>
Total net revenues<\/td>12,731 <\/td><\/td><\/td>10,895 <\/td><\/td><\/td>26,944 <\/td><\/td><\/td>23,119 <\/td><\/td><\/tr>
Provision for credit losses<\/td>282 <\/td><\/td><\/td>615 <\/td><\/td><\/td>600 <\/td><\/td><\/td>444 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,240 <\/td><\/td><\/td>3,619 <\/td><\/td><\/td>8,825 <\/td><\/td><\/td>7,709 <\/td><\/td><\/tr>
Transaction based<\/td>1,654 <\/td><\/td><\/td>1,385 <\/td><\/td><\/td>3,151 <\/td><\/td><\/td>2,790 <\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>146 <\/td><\/td><\/td>306 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Communications and technology<\/td>500 <\/td><\/td><\/td>482 <\/td><\/td><\/td>970 <\/td><\/td><\/td>948 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>646 <\/td><\/td><\/td>1,594 <\/td><\/td><\/td>1,273 <\/td><\/td><\/td>2,564 <\/td><\/td><\/tr>
Occupancy<\/td>244 <\/td><\/td><\/td>253 <\/td><\/td><\/td>491 <\/td><\/td><\/td>518 <\/td><\/td><\/tr>
Professional fees<\/td>393 <\/td><\/td><\/td>392 <\/td><\/td><\/td>777 <\/td><\/td><\/td>775 <\/td><\/td><\/tr>
Other expenses<\/td>703 <\/td><\/td><\/td>673 <\/td><\/td><\/td>1,398 <\/td><\/td><\/td>1,324 <\/td><\/td><\/tr>
Total operating expenses<\/td>8,533 <\/td><\/td><\/td>8,544 <\/td><\/td><\/td>17,191 <\/td><\/td><\/td>16,946 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>3,916 <\/td><\/td><\/td>1,736 <\/td><\/td><\/td>9,153 <\/td><\/td><\/td>5,729 <\/td><\/td><\/tr>
Provision for taxes<\/td>873 <\/td><\/td><\/td>520 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>1,279 <\/td><\/td><\/tr>
Net earnings<\/td>3,043 <\/td><\/td><\/td>1,216 <\/td><\/td><\/td>7,175 <\/td><\/td><\/td>4,450 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>152 <\/td><\/td><\/td>145 <\/td><\/td><\/td>353 <\/td><\/td><\/td>292 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>2,891 <\/td><\/td><\/td>$<\/td>1,071 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/td>$<\/td>4,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>8.73 <\/td><\/td><\/td>$<\/td>3.09 <\/td><\/td><\/td>$<\/td>20.44 <\/td><\/td><\/td>$<\/td>12.00 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>8.62 <\/td><\/td><\/td>$<\/td>3.08 <\/td><\/td><\/td>$<\/td>20.21 <\/td><\/td><\/td>$<\/td>11.91 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>329.8<\/td><\/td>342.3<\/td><\/td>332.6<\/td><\/td>344.4<\/td><\/tr>
Diluted<\/td>335.5<\/td><\/td>347.2<\/td><\/td>337.5<\/td><\/td>349.2<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net earnings<\/td>$<\/td>3,043 <\/td><\/td><\/td>$<\/td>1,216 <\/td><\/td><\/td>$<\/td>7,175 <\/td><\/td><\/td>$<\/td>4,450 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(4)<\/td><\/td><\/td>(12)<\/td><\/td><\/td>22 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>268 <\/td><\/td><\/td>(610)<\/td><\/td><\/td>(288)<\/td><\/td><\/td>(611)<\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>6 <\/td><\/td><\/td>10 <\/td><\/td><\/td>22 <\/td><\/td><\/td>24 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>147 <\/td><\/td><\/td>(24)<\/td><\/td><\/td>262 <\/td><\/td><\/td>403 <\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>417 <\/td><\/td><\/td>(636)<\/td><\/td><\/td>18 <\/td><\/td><\/td>(227)<\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,460 <\/td><\/td><\/td>$<\/td>580 <\/td><\/td><\/td>$<\/td>7,193 <\/td><\/td><\/td>$<\/td>4,223 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs June 2024 Form 10-Q<\/td><\/tr><\/table>\n, \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra080","Question":"What Net Profit Margin did Goldman Sachs post for the six months ending June 2024?","ground_truth_answer":"The Net Profit Margin for Goldman Sachs for the six months ended June 2024 is calculated as follows:\nNet Profit Margin = (Net Income \/ Revenue) * 100\nNet Income (2024) = $7,175 million\nRevenue (2024) = $26,944 million\nNet Profit Margin = (7,175 \/ 26,944) * 100 = 26.63%","question_type":"Ratio","page_number":1,"accession_number":"0000886982-24-000022","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-----------------------|:------|:---------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,733 | | | $ | 1,432 | | $ | 3,818 | $ | 3,010 |\n| 6 | Investment management | 2,533 | | | 2,356 | | | 5,024 | | 4,645 | | |\n| 7 | Commissions and fees | 1,051 | | | 893 | | | 2,128 | | 1,981 | | |\n| 8 | Market making | 4,225 | | | 4,351 | | | 10,217 | | 9,784 | | |\n| 9 | Other principal transactions | 947 | | | 179 | | | 1,907 | | 234 | | |\n| 10 | Total non-interest revenues | 10,489 | | | 9,211 | | | 23,094 | | 19,654 | | |\n| 12 | Interest income | 20,440 | | | 16,836 | | | 39,995 | | 31,774 | | |\n| 13 | Interest expense | 18,198 | | | 15,152 | | | 36,145 | | 28,309 | | |\n| 14 | Net interest income | 2,242 | | | 1,684 | | | 3,850 | | 3,465 | | |\n| 15 | Total net revenues | 12,731 | | | 10,895 | | | 26,944 | | 23,119 | | |\n| 16 | Provision for credit losses | 282 | | | 615 | | | 600 | | 444 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,240 | | | 3,619 | | | 8,825 | | 7,709 | | |\n| 19 | Transaction based | 1,654 | | | 1,385 | | | 3,151 | | 2,790 | | |\n| 20 | Market development | 153 | | | 146 | | | 306 | | 318 | | |\n| 21 | Communications and technology | 500 | | | 482 | | | 970 | | 948 | | |\n| 22 | Depreciation and amortization | 646 | | | 1,594 | | | 1,273 | | 2,564 | | |\n| 23 | Occupancy | 244 | | | 253 | | | 491 | | 518 | | |\n| 24 | Professional fees | 393 | | | 392 | | | 777 | | 775 | | |\n| 25 | Other expenses | 703 | | | 673 | | | 1,398 | | 1,324 | | |\n| 26 | Total operating expenses | 8,533 | | | 8,544 | | | 17,191 | | 16,946 | | |\n| 28 | Pre-tax earnings | 3,916 | | | 1,736 | | | 9,153 | | 5,729 | | |\n| 29 | Provision for taxes | 873 | | | 520 | | | 1,978 | | 1,279 | | |\n| 30 | Net earnings | 3,043 | | | 1,216 | | | 7,175 | | 4,450 | | |\n| 31 | Preferred stock dividends | 152 | | | 145 | | | 353 | | 292 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 2,891 | | | $ | 1,071 | | $ | 6,822 | $ | 4,158 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 8.73 | | | $ | 3.09 | | $ | 20.44 | $ | 12.00 |\n| 36 | Diluted | $ | 8.62 | | | $ | 3.08 | | $ | 20.21 | $ | 11.91 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 329.8 | | 342.3 | | 332.6 | | 344.4 | | | | |\n| 40 | Diluted | 335.5 | | 347.2 | | 337.5 | | 349.2 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:-----------------------|:------|:---------------------|:------|:-----|:------|:------|:---|:------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Net earnings | $ | 3,043 | | | $ | 1,216 | | $ | 7,175 | $ | 4,450 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (4) | | | (12) | | | 22 | | (43) | | |\n| 7 | Debt valuation adjustment | 268 | | | (610) | | | (288) | | (611) | | |\n| 8 | Pension and postretirement liabilities | 6 | | | 10 | | | 22 | | 24 | | |\n| 9 | Available-for-sale securities | 147 | | | (24) | | | 262 | | 403 | | |\n| 10 | Other comprehensive income\/(loss) | 417 | | | (636) | | | 18 | | (227) | | |\n| 11 | Comprehensive income | $ | 3,460 | | | $ | 580 | | $ | 7,193 | $ | 4,223 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:----------------------------------|\n| 1 | 1 | Goldman Sachs June 2024 Form 10-Q |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-----------------------|:------|:---------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,733 | | | $ | 1,432 | | $ | 3,818 | $ | 3,010 |\n| 6 | Investment management | 2,533 | | | 2,356 | | | 5,024 | | 4,645 | | |\n| 7 | Commissions and fees | 1,051 | | | 893 | | | 2,128 | | 1,981 | | |\n| 8 | Market making | 4,225 | | | 4,351 | | | 10,217 | | 9,784 | | |\n| 9 | Other principal transactions | 947 | | | 179 | | | 1,907 | | 234 | | |\n| 10 | Total non-interest revenues | 10,489 | | | 9,211 | | | 23,094 | | 19,654 | | |\n| 12 | Interest income | 20,440 | | | 16,836 | | | 39,995 | | 31,774 | | |\n| 13 | Interest expense | 18,198 | | | 15,152 | | | 36,145 | | 28,309 | | |\n| 14 | Net interest income | 2,242 | | | 1,684 | | | 3,850 | | 3,465 | | |\n| 15 | Total net revenues | 12,731 | | | 10,895 | | | 26,944 | | 23,119 | | |\n| 16 | Provision for credit losses | 282 | | | 615 | | | 600 | | 444 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,240 | | | 3,619 | | | 8,825 | | 7,709 | | |\n| 19 | Transaction based | 1,654 | | | 1,385 | | | 3,151 | | 2,790 | | |\n| 20 | Market development | 153 | | | 146 | | | 306 | | 318 | | |\n| 21 | Communications and technology | 500 | | | 482 | | | 970 | | 948 | | |\n| 22 | Depreciation and amortization | 646 | | | 1,594 | | | 1,273 | | 2,564 | | |\n| 23 | Occupancy | 244 | | | 253 | | | 491 | | 518 | | |\n| 24 | Professional fees | 393 | | | 392 | | | 777 | | 775 | | |\n| 25 | Other expenses | 703 | | | 673 | | | 1,398 | | 1,324 | | |\n| 26 | Total operating expenses | 8,533 | | | 8,544 | | | 17,191 | | 16,946 | | |\n| 28 | Pre-tax earnings | 3,916 | | | 1,736 | | | 9,153 | | 5,729 | | |\n| 29 | Provision for taxes | 873 | | | 520 | | | 1,978 | | 1,279 | | |\n| 30 | Net earnings | 3,043 | | | 1,216 | | | 7,175 | | 4,450 | | |\n| 31 | Preferred stock dividends | 152 | | | 145 | | | 353 | | 292 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 2,891 | | | $ | 1,071 | | $ | 6,822 | $ | 4,158 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 8.73 | | | $ | 3.09 | | $ | 20.44 | $ | 12.00 |\n| 36 | Diluted | $ | 8.62 | | | $ | 3.08 | | $ | 20.21 | $ | 11.91 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 329.8 | | 342.3 | | 332.6 | | 344.4 | | | | |\n| 40 | Diluted | 335.5 | | 347.2 | | 337.5 | | 349.2 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:-----------------------|:------|:---------------------|:------|:-----|:------|:------|:---|:------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Net earnings | $ | 3,043 | | | $ | 1,216 | | $ | 7,175 | $ | 4,450 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (4) | | | (12) | | | 22 | | (43) | | |\n| 7 | Debt valuation adjustment | 268 | | | (610) | | | (288) | | (611) | | |\n| 8 | Pension and postretirement liabilities | 6 | | | 10 | | | 22 | | 24 | | |\n| 9 | Available-for-sale securities | 147 | | | (24) | | | 262 | | 403 | | |\n| 10 | Other comprehensive income\/(loss) | 417 | | | (636) | | | 18 | | (227) | | |\n| 11 | Comprehensive income | $ | 3,460 | | | $ | 580 | | $ | 7,193 | $ | 4,223 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:----------------------------------|\n| 1 | 1 | Goldman Sachs June 2024 Form 10-Q |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,733 <\/td><\/td><\/td>$<\/td>1,432 <\/td><\/td><\/td>$<\/td>3,818 <\/td><\/td><\/td>$<\/td>3,010 <\/td><\/td><\/tr>
Investment management<\/td>2,533 <\/td><\/td><\/td>2,356 <\/td><\/td><\/td>5,024 <\/td><\/td><\/td>4,645 <\/td><\/td><\/tr>
Commissions and fees<\/td>1,051 <\/td><\/td><\/td>893 <\/td><\/td><\/td>2,128 <\/td><\/td><\/td>1,981 <\/td><\/td><\/tr>
Market making<\/td>4,225 <\/td><\/td><\/td>4,351 <\/td><\/td><\/td>10,217 <\/td><\/td><\/td>9,784 <\/td><\/td><\/tr>
Other principal transactions<\/td>947 <\/td><\/td><\/td>179 <\/td><\/td><\/td>1,907 <\/td><\/td><\/td>234 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,489 <\/td><\/td><\/td>9,211 <\/td><\/td><\/td>23,094 <\/td><\/td><\/td>19,654 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>20,440 <\/td><\/td><\/td>16,836 <\/td><\/td><\/td>39,995 <\/td><\/td><\/td>31,774 <\/td><\/td><\/tr>
Interest expense<\/td>18,198 <\/td><\/td><\/td>15,152 <\/td><\/td><\/td>36,145 <\/td><\/td><\/td>28,309 <\/td><\/td><\/tr>
Net interest income<\/td>2,242 <\/td><\/td><\/td>1,684 <\/td><\/td><\/td>3,850 <\/td><\/td><\/td>3,465 <\/td><\/td><\/tr>
Total net revenues<\/td>12,731 <\/td><\/td><\/td>10,895 <\/td><\/td><\/td>26,944 <\/td><\/td><\/td>23,119 <\/td><\/td><\/tr>
Provision for credit losses<\/td>282 <\/td><\/td><\/td>615 <\/td><\/td><\/td>600 <\/td><\/td><\/td>444 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,240 <\/td><\/td><\/td>3,619 <\/td><\/td><\/td>8,825 <\/td><\/td><\/td>7,709 <\/td><\/td><\/tr>
Transaction based<\/td>1,654 <\/td><\/td><\/td>1,385 <\/td><\/td><\/td>3,151 <\/td><\/td><\/td>2,790 <\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>146 <\/td><\/td><\/td>306 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Communications and technology<\/td>500 <\/td><\/td><\/td>482 <\/td><\/td><\/td>970 <\/td><\/td><\/td>948 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>646 <\/td><\/td><\/td>1,594 <\/td><\/td><\/td>1,273 <\/td><\/td><\/td>2,564 <\/td><\/td><\/tr>
Occupancy<\/td>244 <\/td><\/td><\/td>253 <\/td><\/td><\/td>491 <\/td><\/td><\/td>518 <\/td><\/td><\/tr>
Professional fees<\/td>393 <\/td><\/td><\/td>392 <\/td><\/td><\/td>777 <\/td><\/td><\/td>775 <\/td><\/td><\/tr>
Other expenses<\/td>703 <\/td><\/td><\/td>673 <\/td><\/td><\/td>1,398 <\/td><\/td><\/td>1,324 <\/td><\/td><\/tr>
Total operating expenses<\/td>8,533 <\/td><\/td><\/td>8,544 <\/td><\/td><\/td>17,191 <\/td><\/td><\/td>16,946 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>3,916 <\/td><\/td><\/td>1,736 <\/td><\/td><\/td>9,153 <\/td><\/td><\/td>5,729 <\/td><\/td><\/tr>
Provision for taxes<\/td>873 <\/td><\/td><\/td>520 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>1,279 <\/td><\/td><\/tr>
Net earnings<\/td>3,043 <\/td><\/td><\/td>1,216 <\/td><\/td><\/td>7,175 <\/td><\/td><\/td>4,450 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>152 <\/td><\/td><\/td>145 <\/td><\/td><\/td>353 <\/td><\/td><\/td>292 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>2,891 <\/td><\/td><\/td>$<\/td>1,071 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/td>$<\/td>4,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>8.73 <\/td><\/td><\/td>$<\/td>3.09 <\/td><\/td><\/td>$<\/td>20.44 <\/td><\/td><\/td>$<\/td>12.00 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>8.62 <\/td><\/td><\/td>$<\/td>3.08 <\/td><\/td><\/td>$<\/td>20.21 <\/td><\/td><\/td>$<\/td>11.91 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>329.8<\/td><\/td>342.3<\/td><\/td>332.6<\/td><\/td>344.4<\/td><\/tr>
Diluted<\/td>335.5<\/td><\/td>347.2<\/td><\/td>337.5<\/td><\/td>349.2<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net earnings<\/td>$<\/td>3,043 <\/td><\/td><\/td>$<\/td>1,216 <\/td><\/td><\/td>$<\/td>7,175 <\/td><\/td><\/td>$<\/td>4,450 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(4)<\/td><\/td><\/td>(12)<\/td><\/td><\/td>22 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>268 <\/td><\/td><\/td>(610)<\/td><\/td><\/td>(288)<\/td><\/td><\/td>(611)<\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>6 <\/td><\/td><\/td>10 <\/td><\/td><\/td>22 <\/td><\/td><\/td>24 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>147 <\/td><\/td><\/td>(24)<\/td><\/td><\/td>262 <\/td><\/td><\/td>403 <\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>417 <\/td><\/td><\/td>(636)<\/td><\/td><\/td>18 <\/td><\/td><\/td>(227)<\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,460 <\/td><\/td><\/td>$<\/td>580 <\/td><\/td><\/td>$<\/td>7,193 <\/td><\/td><\/td>$<\/td>4,223 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs June 2024 Form 10-Q<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,733 <\/td><\/td><\/td>$<\/td>1,432 <\/td><\/td><\/td>$<\/td>3,818 <\/td><\/td><\/td>$<\/td>3,010 <\/td><\/td><\/tr>
Investment management<\/td>2,533 <\/td><\/td><\/td>2,356 <\/td><\/td><\/td>5,024 <\/td><\/td><\/td>4,645 <\/td><\/td><\/tr>
Commissions and fees<\/td>1,051 <\/td><\/td><\/td>893 <\/td><\/td><\/td>2,128 <\/td><\/td><\/td>1,981 <\/td><\/td><\/tr>
Market making<\/td>4,225 <\/td><\/td><\/td>4,351 <\/td><\/td><\/td>10,217 <\/td><\/td><\/td>9,784 <\/td><\/td><\/tr>
Other principal transactions<\/td>947 <\/td><\/td><\/td>179 <\/td><\/td><\/td>1,907 <\/td><\/td><\/td>234 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,489 <\/td><\/td><\/td>9,211 <\/td><\/td><\/td>23,094 <\/td><\/td><\/td>19,654 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>20,440 <\/td><\/td><\/td>16,836 <\/td><\/td><\/td>39,995 <\/td><\/td><\/td>31,774 <\/td><\/td><\/tr>
Interest expense<\/td>18,198 <\/td><\/td><\/td>15,152 <\/td><\/td><\/td>36,145 <\/td><\/td><\/td>28,309 <\/td><\/td><\/tr>
Net interest income<\/td>2,242 <\/td><\/td><\/td>1,684 <\/td><\/td><\/td>3,850 <\/td><\/td><\/td>3,465 <\/td><\/td><\/tr>
Total net revenues<\/td>12,731 <\/td><\/td><\/td>10,895 <\/td><\/td><\/td>26,944 <\/td><\/td><\/td>23,119 <\/td><\/td><\/tr>
Provision for credit losses<\/td>282 <\/td><\/td><\/td>615 <\/td><\/td><\/td>600 <\/td><\/td><\/td>444 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,240 <\/td><\/td><\/td>3,619 <\/td><\/td><\/td>8,825 <\/td><\/td><\/td>7,709 <\/td><\/td><\/tr>
Transaction based<\/td>1,654 <\/td><\/td><\/td>1,385 <\/td><\/td><\/td>3,151 <\/td><\/td><\/td>2,790 <\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>146 <\/td><\/td><\/td>306 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Communications and technology<\/td>500 <\/td><\/td><\/td>482 <\/td><\/td><\/td>970 <\/td><\/td><\/td>948 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>646 <\/td><\/td><\/td>1,594 <\/td><\/td><\/td>1,273 <\/td><\/td><\/td>2,564 <\/td><\/td><\/tr>
Occupancy<\/td>244 <\/td><\/td><\/td>253 <\/td><\/td><\/td>491 <\/td><\/td><\/td>518 <\/td><\/td><\/tr>
Professional fees<\/td>393 <\/td><\/td><\/td>392 <\/td><\/td><\/td>777 <\/td><\/td><\/td>775 <\/td><\/td><\/tr>
Other expenses<\/td>703 <\/td><\/td><\/td>673 <\/td><\/td><\/td>1,398 <\/td><\/td><\/td>1,324 <\/td><\/td><\/tr>
Total operating expenses<\/td>8,533 <\/td><\/td><\/td>8,544 <\/td><\/td><\/td>17,191 <\/td><\/td><\/td>16,946 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>3,916 <\/td><\/td><\/td>1,736 <\/td><\/td><\/td>9,153 <\/td><\/td><\/td>5,729 <\/td><\/td><\/tr>
Provision for taxes<\/td>873 <\/td><\/td><\/td>520 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>1,279 <\/td><\/td><\/tr>
Net earnings<\/td>3,043 <\/td><\/td><\/td>1,216 <\/td><\/td><\/td>7,175 <\/td><\/td><\/td>4,450 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>152 <\/td><\/td><\/td>145 <\/td><\/td><\/td>353 <\/td><\/td><\/td>292 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>2,891 <\/td><\/td><\/td>$<\/td>1,071 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/td>$<\/td>4,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>8.73 <\/td><\/td><\/td>$<\/td>3.09 <\/td><\/td><\/td>$<\/td>20.44 <\/td><\/td><\/td>$<\/td>12.00 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>8.62 <\/td><\/td><\/td>$<\/td>3.08 <\/td><\/td><\/td>$<\/td>20.21 <\/td><\/td><\/td>$<\/td>11.91 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>329.8<\/td><\/td>342.3<\/td><\/td>332.6<\/td><\/td>344.4<\/td><\/tr>
Diluted<\/td>335.5<\/td><\/td>347.2<\/td><\/td>337.5<\/td><\/td>349.2<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net earnings<\/td>$<\/td>3,043 <\/td><\/td><\/td>$<\/td>1,216 <\/td><\/td><\/td>$<\/td>7,175 <\/td><\/td><\/td>$<\/td>4,450 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(4)<\/td><\/td><\/td>(12)<\/td><\/td><\/td>22 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>268 <\/td><\/td><\/td>(610)<\/td><\/td><\/td>(288)<\/td><\/td><\/td>(611)<\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>6 <\/td><\/td><\/td>10 <\/td><\/td><\/td>22 <\/td><\/td><\/td>24 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>147 <\/td><\/td><\/td>(24)<\/td><\/td><\/td>262 <\/td><\/td><\/td>403 <\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>417 <\/td><\/td><\/td>(636)<\/td><\/td><\/td>18 <\/td><\/td><\/td>(227)<\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,460 <\/td><\/td><\/td>$<\/td>580 <\/td><\/td><\/td>$<\/td>7,193 <\/td><\/td><\/td>$<\/td>4,223 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs June 2024 Form 10-Q<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra081","Question":"How was the Operating Profit Margin for Goldman Sachs in the first half of 2024?","ground_truth_answer":"The Operating Profit Margin for Goldman Sachs for the six months ended June 2024 is calculated as follows:\nOperating Profit Margin = (Operating Profit \/ Revenue) * 100\nOperating Profit (2024) = $9,153 million\nRevenue (2024) = $26,944 million\nOperating Profit Margin = (9,153 \/ 26,944) * 100 = 33.97%","question_type":"Ratio","page_number":1,"accession_number":"0000886982-24-000022","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-----------------------|:------|:---------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,733 | | | $ | 1,432 | | $ | 3,818 | $ | 3,010 |\n| 6 | Investment management | 2,533 | | | 2,356 | | | 5,024 | | 4,645 | | |\n| 7 | Commissions and fees | 1,051 | | | 893 | | | 2,128 | | 1,981 | | |\n| 8 | Market making | 4,225 | | | 4,351 | | | 10,217 | | 9,784 | | |\n| 9 | Other principal transactions | 947 | | | 179 | | | 1,907 | | 234 | | |\n| 10 | Total non-interest revenues | 10,489 | | | 9,211 | | | 23,094 | | 19,654 | | |\n| 12 | Interest income | 20,440 | | | 16,836 | | | 39,995 | | 31,774 | | |\n| 13 | Interest expense | 18,198 | | | 15,152 | | | 36,145 | | 28,309 | | |\n| 14 | Net interest income | 2,242 | | | 1,684 | | | 3,850 | | 3,465 | | |\n| 15 | Total net revenues | 12,731 | | | 10,895 | | | 26,944 | | 23,119 | | |\n| 16 | Provision for credit losses | 282 | | | 615 | | | 600 | | 444 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,240 | | | 3,619 | | | 8,825 | | 7,709 | | |\n| 19 | Transaction based | 1,654 | | | 1,385 | | | 3,151 | | 2,790 | | |\n| 20 | Market development | 153 | | | 146 | | | 306 | | 318 | | |\n| 21 | Communications and technology | 500 | | | 482 | | | 970 | | 948 | | |\n| 22 | Depreciation and amortization | 646 | | | 1,594 | | | 1,273 | | 2,564 | | |\n| 23 | Occupancy | 244 | | | 253 | | | 491 | | 518 | | |\n| 24 | Professional fees | 393 | | | 392 | | | 777 | | 775 | | |\n| 25 | Other expenses | 703 | | | 673 | | | 1,398 | | 1,324 | | |\n| 26 | Total operating expenses | 8,533 | | | 8,544 | | | 17,191 | | 16,946 | | |\n| 28 | Pre-tax earnings | 3,916 | | | 1,736 | | | 9,153 | | 5,729 | | |\n| 29 | Provision for taxes | 873 | | | 520 | | | 1,978 | | 1,279 | | |\n| 30 | Net earnings | 3,043 | | | 1,216 | | | 7,175 | | 4,450 | | |\n| 31 | Preferred stock dividends | 152 | | | 145 | | | 353 | | 292 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 2,891 | | | $ | 1,071 | | $ | 6,822 | $ | 4,158 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 8.73 | | | $ | 3.09 | | $ | 20.44 | $ | 12.00 |\n| 36 | Diluted | $ | 8.62 | | | $ | 3.08 | | $ | 20.21 | $ | 11.91 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 329.8 | | 342.3 | | 332.6 | | 344.4 | | | | |\n| 40 | Diluted | 335.5 | | 347.2 | | 337.5 | | 349.2 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:-----------------------|:------|:---------------------|:------|:-----|:------|:------|:---|:------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Net earnings | $ | 3,043 | | | $ | 1,216 | | $ | 7,175 | $ | 4,450 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (4) | | | (12) | | | 22 | | (43) | | |\n| 7 | Debt valuation adjustment | 268 | | | (610) | | | (288) | | (611) | | |\n| 8 | Pension and postretirement liabilities | 6 | | | 10 | | | 22 | | 24 | | |\n| 9 | Available-for-sale securities | 147 | | | (24) | | | 262 | | 403 | | |\n| 10 | Other comprehensive income\/(loss) | 417 | | | (636) | | | 18 | | (227) | | |\n| 11 | Comprehensive income | $ | 3,460 | | | $ | 580 | | $ | 7,193 | $ | 4,223 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:----------------------------------|\n| 1 | 1 | Goldman Sachs June 2024 Form 10-Q |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-----------------------|:------|:---------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,733 | | | $ | 1,432 | | $ | 3,818 | $ | 3,010 |\n| 6 | Investment management | 2,533 | | | 2,356 | | | 5,024 | | 4,645 | | |\n| 7 | Commissions and fees | 1,051 | | | 893 | | | 2,128 | | 1,981 | | |\n| 8 | Market making | 4,225 | | | 4,351 | | | 10,217 | | 9,784 | | |\n| 9 | Other principal transactions | 947 | | | 179 | | | 1,907 | | 234 | | |\n| 10 | Total non-interest revenues | 10,489 | | | 9,211 | | | 23,094 | | 19,654 | | |\n| 12 | Interest income | 20,440 | | | 16,836 | | | 39,995 | | 31,774 | | |\n| 13 | Interest expense | 18,198 | | | 15,152 | | | 36,145 | | 28,309 | | |\n| 14 | Net interest income | 2,242 | | | 1,684 | | | 3,850 | | 3,465 | | |\n| 15 | Total net revenues | 12,731 | | | 10,895 | | | 26,944 | | 23,119 | | |\n| 16 | Provision for credit losses | 282 | | | 615 | | | 600 | | 444 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,240 | | | 3,619 | | | 8,825 | | 7,709 | | |\n| 19 | Transaction based | 1,654 | | | 1,385 | | | 3,151 | | 2,790 | | |\n| 20 | Market development | 153 | | | 146 | | | 306 | | 318 | | |\n| 21 | Communications and technology | 500 | | | 482 | | | 970 | | 948 | | |\n| 22 | Depreciation and amortization | 646 | | | 1,594 | | | 1,273 | | 2,564 | | |\n| 23 | Occupancy | 244 | | | 253 | | | 491 | | 518 | | |\n| 24 | Professional fees | 393 | | | 392 | | | 777 | | 775 | | |\n| 25 | Other expenses | 703 | | | 673 | | | 1,398 | | 1,324 | | |\n| 26 | Total operating expenses | 8,533 | | | 8,544 | | | 17,191 | | 16,946 | | |\n| 28 | Pre-tax earnings | 3,916 | | | 1,736 | | | 9,153 | | 5,729 | | |\n| 29 | Provision for taxes | 873 | | | 520 | | | 1,978 | | 1,279 | | |\n| 30 | Net earnings | 3,043 | | | 1,216 | | | 7,175 | | 4,450 | | |\n| 31 | Preferred stock dividends | 152 | | | 145 | | | 353 | | 292 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 2,891 | | | $ | 1,071 | | $ | 6,822 | $ | 4,158 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 8.73 | | | $ | 3.09 | | $ | 20.44 | $ | 12.00 |\n| 36 | Diluted | $ | 8.62 | | | $ | 3.08 | | $ | 20.21 | $ | 11.91 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 329.8 | | 342.3 | | 332.6 | | 344.4 | | | | |\n| 40 | Diluted | 335.5 | | 347.2 | | 337.5 | | 349.2 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:-----------------------|:------|:---------------------|:------|:-----|:------|:------|:---|:------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Net earnings | $ | 3,043 | | | $ | 1,216 | | $ | 7,175 | $ | 4,450 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (4) | | | (12) | | | 22 | | (43) | | |\n| 7 | Debt valuation adjustment | 268 | | | (610) | | | (288) | | (611) | | |\n| 8 | Pension and postretirement liabilities | 6 | | | 10 | | | 22 | | 24 | | |\n| 9 | Available-for-sale securities | 147 | | | (24) | | | 262 | | 403 | | |\n| 10 | Other comprehensive income\/(loss) | 417 | | | (636) | | | 18 | | (227) | | |\n| 11 | Comprehensive income | $ | 3,460 | | | $ | 580 | | $ | 7,193 | $ | 4,223 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:----------------------------------|\n| 1 | 1 | Goldman Sachs June 2024 Form 10-Q |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,733 <\/td><\/td><\/td>$<\/td>1,432 <\/td><\/td><\/td>$<\/td>3,818 <\/td><\/td><\/td>$<\/td>3,010 <\/td><\/td><\/tr>
Investment management<\/td>2,533 <\/td><\/td><\/td>2,356 <\/td><\/td><\/td>5,024 <\/td><\/td><\/td>4,645 <\/td><\/td><\/tr>
Commissions and fees<\/td>1,051 <\/td><\/td><\/td>893 <\/td><\/td><\/td>2,128 <\/td><\/td><\/td>1,981 <\/td><\/td><\/tr>
Market making<\/td>4,225 <\/td><\/td><\/td>4,351 <\/td><\/td><\/td>10,217 <\/td><\/td><\/td>9,784 <\/td><\/td><\/tr>
Other principal transactions<\/td>947 <\/td><\/td><\/td>179 <\/td><\/td><\/td>1,907 <\/td><\/td><\/td>234 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,489 <\/td><\/td><\/td>9,211 <\/td><\/td><\/td>23,094 <\/td><\/td><\/td>19,654 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>20,440 <\/td><\/td><\/td>16,836 <\/td><\/td><\/td>39,995 <\/td><\/td><\/td>31,774 <\/td><\/td><\/tr>
Interest expense<\/td>18,198 <\/td><\/td><\/td>15,152 <\/td><\/td><\/td>36,145 <\/td><\/td><\/td>28,309 <\/td><\/td><\/tr>
Net interest income<\/td>2,242 <\/td><\/td><\/td>1,684 <\/td><\/td><\/td>3,850 <\/td><\/td><\/td>3,465 <\/td><\/td><\/tr>
Total net revenues<\/td>12,731 <\/td><\/td><\/td>10,895 <\/td><\/td><\/td>26,944 <\/td><\/td><\/td>23,119 <\/td><\/td><\/tr>
Provision for credit losses<\/td>282 <\/td><\/td><\/td>615 <\/td><\/td><\/td>600 <\/td><\/td><\/td>444 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,240 <\/td><\/td><\/td>3,619 <\/td><\/td><\/td>8,825 <\/td><\/td><\/td>7,709 <\/td><\/td><\/tr>
Transaction based<\/td>1,654 <\/td><\/td><\/td>1,385 <\/td><\/td><\/td>3,151 <\/td><\/td><\/td>2,790 <\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>146 <\/td><\/td><\/td>306 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Communications and technology<\/td>500 <\/td><\/td><\/td>482 <\/td><\/td><\/td>970 <\/td><\/td><\/td>948 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>646 <\/td><\/td><\/td>1,594 <\/td><\/td><\/td>1,273 <\/td><\/td><\/td>2,564 <\/td><\/td><\/tr>
Occupancy<\/td>244 <\/td><\/td><\/td>253 <\/td><\/td><\/td>491 <\/td><\/td><\/td>518 <\/td><\/td><\/tr>
Professional fees<\/td>393 <\/td><\/td><\/td>392 <\/td><\/td><\/td>777 <\/td><\/td><\/td>775 <\/td><\/td><\/tr>
Other expenses<\/td>703 <\/td><\/td><\/td>673 <\/td><\/td><\/td>1,398 <\/td><\/td><\/td>1,324 <\/td><\/td><\/tr>
Total operating expenses<\/td>8,533 <\/td><\/td><\/td>8,544 <\/td><\/td><\/td>17,191 <\/td><\/td><\/td>16,946 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>3,916 <\/td><\/td><\/td>1,736 <\/td><\/td><\/td>9,153 <\/td><\/td><\/td>5,729 <\/td><\/td><\/tr>
Provision for taxes<\/td>873 <\/td><\/td><\/td>520 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>1,279 <\/td><\/td><\/tr>
Net earnings<\/td>3,043 <\/td><\/td><\/td>1,216 <\/td><\/td><\/td>7,175 <\/td><\/td><\/td>4,450 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>152 <\/td><\/td><\/td>145 <\/td><\/td><\/td>353 <\/td><\/td><\/td>292 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>2,891 <\/td><\/td><\/td>$<\/td>1,071 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/td>$<\/td>4,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>8.73 <\/td><\/td><\/td>$<\/td>3.09 <\/td><\/td><\/td>$<\/td>20.44 <\/td><\/td><\/td>$<\/td>12.00 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>8.62 <\/td><\/td><\/td>$<\/td>3.08 <\/td><\/td><\/td>$<\/td>20.21 <\/td><\/td><\/td>$<\/td>11.91 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>329.8<\/td><\/td>342.3<\/td><\/td>332.6<\/td><\/td>344.4<\/td><\/tr>
Diluted<\/td>335.5<\/td><\/td>347.2<\/td><\/td>337.5<\/td><\/td>349.2<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net earnings<\/td>$<\/td>3,043 <\/td><\/td><\/td>$<\/td>1,216 <\/td><\/td><\/td>$<\/td>7,175 <\/td><\/td><\/td>$<\/td>4,450 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(4)<\/td><\/td><\/td>(12)<\/td><\/td><\/td>22 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>268 <\/td><\/td><\/td>(610)<\/td><\/td><\/td>(288)<\/td><\/td><\/td>(611)<\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>6 <\/td><\/td><\/td>10 <\/td><\/td><\/td>22 <\/td><\/td><\/td>24 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>147 <\/td><\/td><\/td>(24)<\/td><\/td><\/td>262 <\/td><\/td><\/td>403 <\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>417 <\/td><\/td><\/td>(636)<\/td><\/td><\/td>18 <\/td><\/td><\/td>(227)<\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,460 <\/td><\/td><\/td>$<\/td>580 <\/td><\/td><\/td>$<\/td>7,193 <\/td><\/td><\/td>$<\/td>4,223 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs June 2024 Form 10-Q<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,733 <\/td><\/td><\/td>$<\/td>1,432 <\/td><\/td><\/td>$<\/td>3,818 <\/td><\/td><\/td>$<\/td>3,010 <\/td><\/td><\/tr>
Investment management<\/td>2,533 <\/td><\/td><\/td>2,356 <\/td><\/td><\/td>5,024 <\/td><\/td><\/td>4,645 <\/td><\/td><\/tr>
Commissions and fees<\/td>1,051 <\/td><\/td><\/td>893 <\/td><\/td><\/td>2,128 <\/td><\/td><\/td>1,981 <\/td><\/td><\/tr>
Market making<\/td>4,225 <\/td><\/td><\/td>4,351 <\/td><\/td><\/td>10,217 <\/td><\/td><\/td>9,784 <\/td><\/td><\/tr>
Other principal transactions<\/td>947 <\/td><\/td><\/td>179 <\/td><\/td><\/td>1,907 <\/td><\/td><\/td>234 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,489 <\/td><\/td><\/td>9,211 <\/td><\/td><\/td>23,094 <\/td><\/td><\/td>19,654 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>20,440 <\/td><\/td><\/td>16,836 <\/td><\/td><\/td>39,995 <\/td><\/td><\/td>31,774 <\/td><\/td><\/tr>
Interest expense<\/td>18,198 <\/td><\/td><\/td>15,152 <\/td><\/td><\/td>36,145 <\/td><\/td><\/td>28,309 <\/td><\/td><\/tr>
Net interest income<\/td>2,242 <\/td><\/td><\/td>1,684 <\/td><\/td><\/td>3,850 <\/td><\/td><\/td>3,465 <\/td><\/td><\/tr>
Total net revenues<\/td>12,731 <\/td><\/td><\/td>10,895 <\/td><\/td><\/td>26,944 <\/td><\/td><\/td>23,119 <\/td><\/td><\/tr>
Provision for credit losses<\/td>282 <\/td><\/td><\/td>615 <\/td><\/td><\/td>600 <\/td><\/td><\/td>444 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,240 <\/td><\/td><\/td>3,619 <\/td><\/td><\/td>8,825 <\/td><\/td><\/td>7,709 <\/td><\/td><\/tr>
Transaction based<\/td>1,654 <\/td><\/td><\/td>1,385 <\/td><\/td><\/td>3,151 <\/td><\/td><\/td>2,790 <\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>146 <\/td><\/td><\/td>306 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Communications and technology<\/td>500 <\/td><\/td><\/td>482 <\/td><\/td><\/td>970 <\/td><\/td><\/td>948 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>646 <\/td><\/td><\/td>1,594 <\/td><\/td><\/td>1,273 <\/td><\/td><\/td>2,564 <\/td><\/td><\/tr>
Occupancy<\/td>244 <\/td><\/td><\/td>253 <\/td><\/td><\/td>491 <\/td><\/td><\/td>518 <\/td><\/td><\/tr>
Professional fees<\/td>393 <\/td><\/td><\/td>392 <\/td><\/td><\/td>777 <\/td><\/td><\/td>775 <\/td><\/td><\/tr>
Other expenses<\/td>703 <\/td><\/td><\/td>673 <\/td><\/td><\/td>1,398 <\/td><\/td><\/td>1,324 <\/td><\/td><\/tr>
Total operating expenses<\/td>8,533 <\/td><\/td><\/td>8,544 <\/td><\/td><\/td>17,191 <\/td><\/td><\/td>16,946 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>3,916 <\/td><\/td><\/td>1,736 <\/td><\/td><\/td>9,153 <\/td><\/td><\/td>5,729 <\/td><\/td><\/tr>
Provision for taxes<\/td>873 <\/td><\/td><\/td>520 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>1,279 <\/td><\/td><\/tr>
Net earnings<\/td>3,043 <\/td><\/td><\/td>1,216 <\/td><\/td><\/td>7,175 <\/td><\/td><\/td>4,450 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>152 <\/td><\/td><\/td>145 <\/td><\/td><\/td>353 <\/td><\/td><\/td>292 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>2,891 <\/td><\/td><\/td>$<\/td>1,071 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/td>$<\/td>4,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>8.73 <\/td><\/td><\/td>$<\/td>3.09 <\/td><\/td><\/td>$<\/td>20.44 <\/td><\/td><\/td>$<\/td>12.00 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>8.62 <\/td><\/td><\/td>$<\/td>3.08 <\/td><\/td><\/td>$<\/td>20.21 <\/td><\/td><\/td>$<\/td>11.91 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>329.8<\/td><\/td>342.3<\/td><\/td>332.6<\/td><\/td>344.4<\/td><\/tr>
Diluted<\/td>335.5<\/td><\/td>347.2<\/td><\/td>337.5<\/td><\/td>349.2<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net earnings<\/td>$<\/td>3,043 <\/td><\/td><\/td>$<\/td>1,216 <\/td><\/td><\/td>$<\/td>7,175 <\/td><\/td><\/td>$<\/td>4,450 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(4)<\/td><\/td><\/td>(12)<\/td><\/td><\/td>22 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>268 <\/td><\/td><\/td>(610)<\/td><\/td><\/td>(288)<\/td><\/td><\/td>(611)<\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>6 <\/td><\/td><\/td>10 <\/td><\/td><\/td>22 <\/td><\/td><\/td>24 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>147 <\/td><\/td><\/td>(24)<\/td><\/td><\/td>262 <\/td><\/td><\/td>403 <\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>417 <\/td><\/td><\/td>(636)<\/td><\/td><\/td>18 <\/td><\/td><\/td>(227)<\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,460 <\/td><\/td><\/td>$<\/td>580 <\/td><\/td><\/td>$<\/td>7,193 <\/td><\/td><\/td>$<\/td>4,223 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs June 2024 Form 10-Q<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra082","Question":"What is the Earnings Per Share (EPS) for Goldman Sachs over the six months ending June 2024?","ground_truth_answer":"The Earnings Per Share (EPS) for Goldman Sachs for the six months ended June 2024 is calculated as follows:\nEPS = (Net Income - Dividends on Preferred Stock) \/ Outstanding Shares\nNet Income (2024) = $7,175 million\nDividends on Preferred Stock (2024) = $353 million\nOutstanding Shares (2024) = 332.6 million (Basic)\nEPS = (7,175 - 353) \/ 332.6 = $20.44","question_type":"Ratio","page_number":1,"accession_number":"0000886982-24-000022","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-----------------------|:------|:---------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,733 | | | $ | 1,432 | | $ | 3,818 | $ | 3,010 |\n| 6 | Investment management | 2,533 | | | 2,356 | | | 5,024 | | 4,645 | | |\n| 7 | Commissions and fees | 1,051 | | | 893 | | | 2,128 | | 1,981 | | |\n| 8 | Market making | 4,225 | | | 4,351 | | | 10,217 | | 9,784 | | |\n| 9 | Other principal transactions | 947 | | | 179 | | | 1,907 | | 234 | | |\n| 10 | Total non-interest revenues | 10,489 | | | 9,211 | | | 23,094 | | 19,654 | | |\n| 12 | Interest income | 20,440 | | | 16,836 | | | 39,995 | | 31,774 | | |\n| 13 | Interest expense | 18,198 | | | 15,152 | | | 36,145 | | 28,309 | | |\n| 14 | Net interest income | 2,242 | | | 1,684 | | | 3,850 | | 3,465 | | |\n| 15 | Total net revenues | 12,731 | | | 10,895 | | | 26,944 | | 23,119 | | |\n| 16 | Provision for credit losses | 282 | | | 615 | | | 600 | | 444 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,240 | | | 3,619 | | | 8,825 | | 7,709 | | |\n| 19 | Transaction based | 1,654 | | | 1,385 | | | 3,151 | | 2,790 | | |\n| 20 | Market development | 153 | | | 146 | | | 306 | | 318 | | |\n| 21 | Communications and technology | 500 | | | 482 | | | 970 | | 948 | | |\n| 22 | Depreciation and amortization | 646 | | | 1,594 | | | 1,273 | | 2,564 | | |\n| 23 | Occupancy | 244 | | | 253 | | | 491 | | 518 | | |\n| 24 | Professional fees | 393 | | | 392 | | | 777 | | 775 | | |\n| 25 | Other expenses | 703 | | | 673 | | | 1,398 | | 1,324 | | |\n| 26 | Total operating expenses | 8,533 | | | 8,544 | | | 17,191 | | 16,946 | | |\n| 28 | Pre-tax earnings | 3,916 | | | 1,736 | | | 9,153 | | 5,729 | | |\n| 29 | Provision for taxes | 873 | | | 520 | | | 1,978 | | 1,279 | | |\n| 30 | Net earnings | 3,043 | | | 1,216 | | | 7,175 | | 4,450 | | |\n| 31 | Preferred stock dividends | 152 | | | 145 | | | 353 | | 292 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 2,891 | | | $ | 1,071 | | $ | 6,822 | $ | 4,158 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 8.73 | | | $ | 3.09 | | $ | 20.44 | $ | 12.00 |\n| 36 | Diluted | $ | 8.62 | | | $ | 3.08 | | $ | 20.21 | $ | 11.91 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 329.8 | | 342.3 | | 332.6 | | 344.4 | | | | |\n| 40 | Diluted | 335.5 | | 347.2 | | 337.5 | | 349.2 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:-----------------------|:------|:---------------------|:------|:-----|:------|:------|:---|:------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Net earnings | $ | 3,043 | | | $ | 1,216 | | $ | 7,175 | $ | 4,450 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (4) | | | (12) | | | 22 | | (43) | | |\n| 7 | Debt valuation adjustment | 268 | | | (610) | | | (288) | | (611) | | |\n| 8 | Pension and postretirement liabilities | 6 | | | 10 | | | 22 | | 24 | | |\n| 9 | Available-for-sale securities | 147 | | | (24) | | | 262 | | 403 | | |\n| 10 | Other comprehensive income\/(loss) | 417 | | | (636) | | | 18 | | (227) | | |\n| 11 | Comprehensive income | $ | 3,460 | | | $ | 580 | | $ | 7,193 | $ | 4,223 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:----------------------------------|\n| 1 | 1 | Goldman Sachs June 2024 Form 10-Q |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-----------------------|:------|:---------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,733 | | | $ | 1,432 | | $ | 3,818 | $ | 3,010 |\n| 6 | Investment management | 2,533 | | | 2,356 | | | 5,024 | | 4,645 | | |\n| 7 | Commissions and fees | 1,051 | | | 893 | | | 2,128 | | 1,981 | | |\n| 8 | Market making | 4,225 | | | 4,351 | | | 10,217 | | 9,784 | | |\n| 9 | Other principal transactions | 947 | | | 179 | | | 1,907 | | 234 | | |\n| 10 | Total non-interest revenues | 10,489 | | | 9,211 | | | 23,094 | | 19,654 | | |\n| 12 | Interest income | 20,440 | | | 16,836 | | | 39,995 | | 31,774 | | |\n| 13 | Interest expense | 18,198 | | | 15,152 | | | 36,145 | | 28,309 | | |\n| 14 | Net interest income | 2,242 | | | 1,684 | | | 3,850 | | 3,465 | | |\n| 15 | Total net revenues | 12,731 | | | 10,895 | | | 26,944 | | 23,119 | | |\n| 16 | Provision for credit losses | 282 | | | 615 | | | 600 | | 444 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,240 | | | 3,619 | | | 8,825 | | 7,709 | | |\n| 19 | Transaction based | 1,654 | | | 1,385 | | | 3,151 | | 2,790 | | |\n| 20 | Market development | 153 | | | 146 | | | 306 | | 318 | | |\n| 21 | Communications and technology | 500 | | | 482 | | | 970 | | 948 | | |\n| 22 | Depreciation and amortization | 646 | | | 1,594 | | | 1,273 | | 2,564 | | |\n| 23 | Occupancy | 244 | | | 253 | | | 491 | | 518 | | |\n| 24 | Professional fees | 393 | | | 392 | | | 777 | | 775 | | |\n| 25 | Other expenses | 703 | | | 673 | | | 1,398 | | 1,324 | | |\n| 26 | Total operating expenses | 8,533 | | | 8,544 | | | 17,191 | | 16,946 | | |\n| 28 | Pre-tax earnings | 3,916 | | | 1,736 | | | 9,153 | | 5,729 | | |\n| 29 | Provision for taxes | 873 | | | 520 | | | 1,978 | | 1,279 | | |\n| 30 | Net earnings | 3,043 | | | 1,216 | | | 7,175 | | 4,450 | | |\n| 31 | Preferred stock dividends | 152 | | | 145 | | | 353 | | 292 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 2,891 | | | $ | 1,071 | | $ | 6,822 | $ | 4,158 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 8.73 | | | $ | 3.09 | | $ | 20.44 | $ | 12.00 |\n| 36 | Diluted | $ | 8.62 | | | $ | 3.08 | | $ | 20.21 | $ | 11.91 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 329.8 | | 342.3 | | 332.6 | | 344.4 | | | | |\n| 40 | Diluted | 335.5 | | 347.2 | | 337.5 | | 349.2 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:-----------------------|:------|:---------------------|:------|:-----|:------|:------|:---|:------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Net earnings | $ | 3,043 | | | $ | 1,216 | | $ | 7,175 | $ | 4,450 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (4) | | | (12) | | | 22 | | (43) | | |\n| 7 | Debt valuation adjustment | 268 | | | (610) | | | (288) | | (611) | | |\n| 8 | Pension and postretirement liabilities | 6 | | | 10 | | | 22 | | 24 | | |\n| 9 | Available-for-sale securities | 147 | | | (24) | | | 262 | | 403 | | |\n| 10 | Other comprehensive income\/(loss) | 417 | | | (636) | | | 18 | | (227) | | |\n| 11 | Comprehensive income | $ | 3,460 | | | $ | 580 | | $ | 7,193 | $ | 4,223 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:----------------------------------|\n| 1 | 1 | Goldman Sachs June 2024 Form 10-Q |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,733 <\/td><\/td><\/td>$<\/td>1,432 <\/td><\/td><\/td>$<\/td>3,818 <\/td><\/td><\/td>$<\/td>3,010 <\/td><\/td><\/tr>
Investment management<\/td>2,533 <\/td><\/td><\/td>2,356 <\/td><\/td><\/td>5,024 <\/td><\/td><\/td>4,645 <\/td><\/td><\/tr>
Commissions and fees<\/td>1,051 <\/td><\/td><\/td>893 <\/td><\/td><\/td>2,128 <\/td><\/td><\/td>1,981 <\/td><\/td><\/tr>
Market making<\/td>4,225 <\/td><\/td><\/td>4,351 <\/td><\/td><\/td>10,217 <\/td><\/td><\/td>9,784 <\/td><\/td><\/tr>
Other principal transactions<\/td>947 <\/td><\/td><\/td>179 <\/td><\/td><\/td>1,907 <\/td><\/td><\/td>234 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,489 <\/td><\/td><\/td>9,211 <\/td><\/td><\/td>23,094 <\/td><\/td><\/td>19,654 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>20,440 <\/td><\/td><\/td>16,836 <\/td><\/td><\/td>39,995 <\/td><\/td><\/td>31,774 <\/td><\/td><\/tr>
Interest expense<\/td>18,198 <\/td><\/td><\/td>15,152 <\/td><\/td><\/td>36,145 <\/td><\/td><\/td>28,309 <\/td><\/td><\/tr>
Net interest income<\/td>2,242 <\/td><\/td><\/td>1,684 <\/td><\/td><\/td>3,850 <\/td><\/td><\/td>3,465 <\/td><\/td><\/tr>
Total net revenues<\/td>12,731 <\/td><\/td><\/td>10,895 <\/td><\/td><\/td>26,944 <\/td><\/td><\/td>23,119 <\/td><\/td><\/tr>
Provision for credit losses<\/td>282 <\/td><\/td><\/td>615 <\/td><\/td><\/td>600 <\/td><\/td><\/td>444 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,240 <\/td><\/td><\/td>3,619 <\/td><\/td><\/td>8,825 <\/td><\/td><\/td>7,709 <\/td><\/td><\/tr>
Transaction based<\/td>1,654 <\/td><\/td><\/td>1,385 <\/td><\/td><\/td>3,151 <\/td><\/td><\/td>2,790 <\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>146 <\/td><\/td><\/td>306 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Communications and technology<\/td>500 <\/td><\/td><\/td>482 <\/td><\/td><\/td>970 <\/td><\/td><\/td>948 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>646 <\/td><\/td><\/td>1,594 <\/td><\/td><\/td>1,273 <\/td><\/td><\/td>2,564 <\/td><\/td><\/tr>
Occupancy<\/td>244 <\/td><\/td><\/td>253 <\/td><\/td><\/td>491 <\/td><\/td><\/td>518 <\/td><\/td><\/tr>
Professional fees<\/td>393 <\/td><\/td><\/td>392 <\/td><\/td><\/td>777 <\/td><\/td><\/td>775 <\/td><\/td><\/tr>
Other expenses<\/td>703 <\/td><\/td><\/td>673 <\/td><\/td><\/td>1,398 <\/td><\/td><\/td>1,324 <\/td><\/td><\/tr>
Total operating expenses<\/td>8,533 <\/td><\/td><\/td>8,544 <\/td><\/td><\/td>17,191 <\/td><\/td><\/td>16,946 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>3,916 <\/td><\/td><\/td>1,736 <\/td><\/td><\/td>9,153 <\/td><\/td><\/td>5,729 <\/td><\/td><\/tr>
Provision for taxes<\/td>873 <\/td><\/td><\/td>520 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>1,279 <\/td><\/td><\/tr>
Net earnings<\/td>3,043 <\/td><\/td><\/td>1,216 <\/td><\/td><\/td>7,175 <\/td><\/td><\/td>4,450 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>152 <\/td><\/td><\/td>145 <\/td><\/td><\/td>353 <\/td><\/td><\/td>292 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>2,891 <\/td><\/td><\/td>$<\/td>1,071 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/td>$<\/td>4,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>8.73 <\/td><\/td><\/td>$<\/td>3.09 <\/td><\/td><\/td>$<\/td>20.44 <\/td><\/td><\/td>$<\/td>12.00 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>8.62 <\/td><\/td><\/td>$<\/td>3.08 <\/td><\/td><\/td>$<\/td>20.21 <\/td><\/td><\/td>$<\/td>11.91 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>329.8<\/td><\/td>342.3<\/td><\/td>332.6<\/td><\/td>344.4<\/td><\/tr>
Diluted<\/td>335.5<\/td><\/td>347.2<\/td><\/td>337.5<\/td><\/td>349.2<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net earnings<\/td>$<\/td>3,043 <\/td><\/td><\/td>$<\/td>1,216 <\/td><\/td><\/td>$<\/td>7,175 <\/td><\/td><\/td>$<\/td>4,450 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(4)<\/td><\/td><\/td>(12)<\/td><\/td><\/td>22 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>268 <\/td><\/td><\/td>(610)<\/td><\/td><\/td>(288)<\/td><\/td><\/td>(611)<\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>6 <\/td><\/td><\/td>10 <\/td><\/td><\/td>22 <\/td><\/td><\/td>24 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>147 <\/td><\/td><\/td>(24)<\/td><\/td><\/td>262 <\/td><\/td><\/td>403 <\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>417 <\/td><\/td><\/td>(636)<\/td><\/td><\/td>18 <\/td><\/td><\/td>(227)<\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,460 <\/td><\/td><\/td>$<\/td>580 <\/td><\/td><\/td>$<\/td>7,193 <\/td><\/td><\/td>$<\/td>4,223 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs June 2024 Form 10-Q<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,733 <\/td><\/td><\/td>$<\/td>1,432 <\/td><\/td><\/td>$<\/td>3,818 <\/td><\/td><\/td>$<\/td>3,010 <\/td><\/td><\/tr>
Investment management<\/td>2,533 <\/td><\/td><\/td>2,356 <\/td><\/td><\/td>5,024 <\/td><\/td><\/td>4,645 <\/td><\/td><\/tr>
Commissions and fees<\/td>1,051 <\/td><\/td><\/td>893 <\/td><\/td><\/td>2,128 <\/td><\/td><\/td>1,981 <\/td><\/td><\/tr>
Market making<\/td>4,225 <\/td><\/td><\/td>4,351 <\/td><\/td><\/td>10,217 <\/td><\/td><\/td>9,784 <\/td><\/td><\/tr>
Other principal transactions<\/td>947 <\/td><\/td><\/td>179 <\/td><\/td><\/td>1,907 <\/td><\/td><\/td>234 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,489 <\/td><\/td><\/td>9,211 <\/td><\/td><\/td>23,094 <\/td><\/td><\/td>19,654 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>20,440 <\/td><\/td><\/td>16,836 <\/td><\/td><\/td>39,995 <\/td><\/td><\/td>31,774 <\/td><\/td><\/tr>
Interest expense<\/td>18,198 <\/td><\/td><\/td>15,152 <\/td><\/td><\/td>36,145 <\/td><\/td><\/td>28,309 <\/td><\/td><\/tr>
Net interest income<\/td>2,242 <\/td><\/td><\/td>1,684 <\/td><\/td><\/td>3,850 <\/td><\/td><\/td>3,465 <\/td><\/td><\/tr>
Total net revenues<\/td>12,731 <\/td><\/td><\/td>10,895 <\/td><\/td><\/td>26,944 <\/td><\/td><\/td>23,119 <\/td><\/td><\/tr>
Provision for credit losses<\/td>282 <\/td><\/td><\/td>615 <\/td><\/td><\/td>600 <\/td><\/td><\/td>444 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,240 <\/td><\/td><\/td>3,619 <\/td><\/td><\/td>8,825 <\/td><\/td><\/td>7,709 <\/td><\/td><\/tr>
Transaction based<\/td>1,654 <\/td><\/td><\/td>1,385 <\/td><\/td><\/td>3,151 <\/td><\/td><\/td>2,790 <\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>146 <\/td><\/td><\/td>306 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Communications and technology<\/td>500 <\/td><\/td><\/td>482 <\/td><\/td><\/td>970 <\/td><\/td><\/td>948 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>646 <\/td><\/td><\/td>1,594 <\/td><\/td><\/td>1,273 <\/td><\/td><\/td>2,564 <\/td><\/td><\/tr>
Occupancy<\/td>244 <\/td><\/td><\/td>253 <\/td><\/td><\/td>491 <\/td><\/td><\/td>518 <\/td><\/td><\/tr>
Professional fees<\/td>393 <\/td><\/td><\/td>392 <\/td><\/td><\/td>777 <\/td><\/td><\/td>775 <\/td><\/td><\/tr>
Other expenses<\/td>703 <\/td><\/td><\/td>673 <\/td><\/td><\/td>1,398 <\/td><\/td><\/td>1,324 <\/td><\/td><\/tr>
Total operating expenses<\/td>8,533 <\/td><\/td><\/td>8,544 <\/td><\/td><\/td>17,191 <\/td><\/td><\/td>16,946 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>3,916 <\/td><\/td><\/td>1,736 <\/td><\/td><\/td>9,153 <\/td><\/td><\/td>5,729 <\/td><\/td><\/tr>
Provision for taxes<\/td>873 <\/td><\/td><\/td>520 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>1,279 <\/td><\/td><\/tr>
Net earnings<\/td>3,043 <\/td><\/td><\/td>1,216 <\/td><\/td><\/td>7,175 <\/td><\/td><\/td>4,450 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>152 <\/td><\/td><\/td>145 <\/td><\/td><\/td>353 <\/td><\/td><\/td>292 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>2,891 <\/td><\/td><\/td>$<\/td>1,071 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/td>$<\/td>4,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>8.73 <\/td><\/td><\/td>$<\/td>3.09 <\/td><\/td><\/td>$<\/td>20.44 <\/td><\/td><\/td>$<\/td>12.00 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>8.62 <\/td><\/td><\/td>$<\/td>3.08 <\/td><\/td><\/td>$<\/td>20.21 <\/td><\/td><\/td>$<\/td>11.91 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>329.8<\/td><\/td>342.3<\/td><\/td>332.6<\/td><\/td>344.4<\/td><\/tr>
Diluted<\/td>335.5<\/td><\/td>347.2<\/td><\/td>337.5<\/td><\/td>349.2<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net earnings<\/td>$<\/td>3,043 <\/td><\/td><\/td>$<\/td>1,216 <\/td><\/td><\/td>$<\/td>7,175 <\/td><\/td><\/td>$<\/td>4,450 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(4)<\/td><\/td><\/td>(12)<\/td><\/td><\/td>22 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>268 <\/td><\/td><\/td>(610)<\/td><\/td><\/td>(288)<\/td><\/td><\/td>(611)<\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>6 <\/td><\/td><\/td>10 <\/td><\/td><\/td>22 <\/td><\/td><\/td>24 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>147 <\/td><\/td><\/td>(24)<\/td><\/td><\/td>262 <\/td><\/td><\/td>403 <\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>417 <\/td><\/td><\/td>(636)<\/td><\/td><\/td>18 <\/td><\/td><\/td>(227)<\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,460 <\/td><\/td><\/td>$<\/td>580 <\/td><\/td><\/td>$<\/td>7,193 <\/td><\/td><\/td>$<\/td>4,223 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs June 2024 Form 10-Q<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra083","Question":"What is Goldman Sachs' Debt to Equity Ratio as of June 2024?","ground_truth_answer":"The Debt Equity Ratio for Goldman Sachs as of June 2024 is calculated as follows:\nDebt Equity Ratio = Total Debt \/ Shareholders' Equity\nTotal Debt (2024) = $1,533,850 million\nShareholders' Equity (2024) = $119,463 million\nDebt Equity Ratio = 1,533,850 \/ 119,463 = 12.84","question_type":"Ratio","page_number":2,"accession_number":"0000886982-24-000022","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra084","Question":"For Goldman Sachs, what was the Interest Coverage Ratio for the six-month period ending in June 2024?","ground_truth_answer":"The Interest Coverage Ratio for Goldman Sachs for the six months ended June 2024 is calculated as follows:\nInterest Coverage Ratio = EBIT \/ Interest Expenses\nEBIT (2024) = $9,153 million\nInterest Expenses (2024) = $36,145 million\nInterest Coverage Ratio = 9,153 \/ 36,145 = 0.25","question_type":"Ratio","page_number":1,"accession_number":"0000886982-24-000022","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-----------------------|:------|:---------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,733 | | | $ | 1,432 | | $ | 3,818 | $ | 3,010 |\n| 6 | Investment management | 2,533 | | | 2,356 | | | 5,024 | | 4,645 | | |\n| 7 | Commissions and fees | 1,051 | | | 893 | | | 2,128 | | 1,981 | | |\n| 8 | Market making | 4,225 | | | 4,351 | | | 10,217 | | 9,784 | | |\n| 9 | Other principal transactions | 947 | | | 179 | | | 1,907 | | 234 | | |\n| 10 | Total non-interest revenues | 10,489 | | | 9,211 | | | 23,094 | | 19,654 | | |\n| 12 | Interest income | 20,440 | | | 16,836 | | | 39,995 | | 31,774 | | |\n| 13 | Interest expense | 18,198 | | | 15,152 | | | 36,145 | | 28,309 | | |\n| 14 | Net interest income | 2,242 | | | 1,684 | | | 3,850 | | 3,465 | | |\n| 15 | Total net revenues | 12,731 | | | 10,895 | | | 26,944 | | 23,119 | | |\n| 16 | Provision for credit losses | 282 | | | 615 | | | 600 | | 444 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,240 | | | 3,619 | | | 8,825 | | 7,709 | | |\n| 19 | Transaction based | 1,654 | | | 1,385 | | | 3,151 | | 2,790 | | |\n| 20 | Market development | 153 | | | 146 | | | 306 | | 318 | | |\n| 21 | Communications and technology | 500 | | | 482 | | | 970 | | 948 | | |\n| 22 | Depreciation and amortization | 646 | | | 1,594 | | | 1,273 | | 2,564 | | |\n| 23 | Occupancy | 244 | | | 253 | | | 491 | | 518 | | |\n| 24 | Professional fees | 393 | | | 392 | | | 777 | | 775 | | |\n| 25 | Other expenses | 703 | | | 673 | | | 1,398 | | 1,324 | | |\n| 26 | Total operating expenses | 8,533 | | | 8,544 | | | 17,191 | | 16,946 | | |\n| 28 | Pre-tax earnings | 3,916 | | | 1,736 | | | 9,153 | | 5,729 | | |\n| 29 | Provision for taxes | 873 | | | 520 | | | 1,978 | | 1,279 | | |\n| 30 | Net earnings | 3,043 | | | 1,216 | | | 7,175 | | 4,450 | | |\n| 31 | Preferred stock dividends | 152 | | | 145 | | | 353 | | 292 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 2,891 | | | $ | 1,071 | | $ | 6,822 | $ | 4,158 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 8.73 | | | $ | 3.09 | | $ | 20.44 | $ | 12.00 |\n| 36 | Diluted | $ | 8.62 | | | $ | 3.08 | | $ | 20.21 | $ | 11.91 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 329.8 | | 342.3 | | 332.6 | | 344.4 | | | | |\n| 40 | Diluted | 335.5 | | 347.2 | | 337.5 | | 349.2 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:-----------------------|:------|:---------------------|:------|:-----|:------|:------|:---|:------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Net earnings | $ | 3,043 | | | $ | 1,216 | | $ | 7,175 | $ | 4,450 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (4) | | | (12) | | | 22 | | (43) | | |\n| 7 | Debt valuation adjustment | 268 | | | (610) | | | (288) | | (611) | | |\n| 8 | Pension and postretirement liabilities | 6 | | | 10 | | | 22 | | 24 | | |\n| 9 | Available-for-sale securities | 147 | | | (24) | | | 262 | | 403 | | |\n| 10 | Other comprehensive income\/(loss) | 417 | | | (636) | | | 18 | | (227) | | |\n| 11 | Comprehensive income | $ | 3,460 | | | $ | 580 | | $ | 7,193 | $ | 4,223 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:----------------------------------|\n| 1 | 1 | Goldman Sachs June 2024 Form 10-Q |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:-----------------------|:------|:---------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | in millions, except per share amounts | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,733 | | | $ | 1,432 | | $ | 3,818 | $ | 3,010 |\n| 6 | Investment management | 2,533 | | | 2,356 | | | 5,024 | | 4,645 | | |\n| 7 | Commissions and fees | 1,051 | | | 893 | | | 2,128 | | 1,981 | | |\n| 8 | Market making | 4,225 | | | 4,351 | | | 10,217 | | 9,784 | | |\n| 9 | Other principal transactions | 947 | | | 179 | | | 1,907 | | 234 | | |\n| 10 | Total non-interest revenues | 10,489 | | | 9,211 | | | 23,094 | | 19,654 | | |\n| 12 | Interest income | 20,440 | | | 16,836 | | | 39,995 | | 31,774 | | |\n| 13 | Interest expense | 18,198 | | | 15,152 | | | 36,145 | | 28,309 | | |\n| 14 | Net interest income | 2,242 | | | 1,684 | | | 3,850 | | 3,465 | | |\n| 15 | Total net revenues | 12,731 | | | 10,895 | | | 26,944 | | 23,119 | | |\n| 16 | Provision for credit losses | 282 | | | 615 | | | 600 | | 444 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,240 | | | 3,619 | | | 8,825 | | 7,709 | | |\n| 19 | Transaction based | 1,654 | | | 1,385 | | | 3,151 | | 2,790 | | |\n| 20 | Market development | 153 | | | 146 | | | 306 | | 318 | | |\n| 21 | Communications and technology | 500 | | | 482 | | | 970 | | 948 | | |\n| 22 | Depreciation and amortization | 646 | | | 1,594 | | | 1,273 | | 2,564 | | |\n| 23 | Occupancy | 244 | | | 253 | | | 491 | | 518 | | |\n| 24 | Professional fees | 393 | | | 392 | | | 777 | | 775 | | |\n| 25 | Other expenses | 703 | | | 673 | | | 1,398 | | 1,324 | | |\n| 26 | Total operating expenses | 8,533 | | | 8,544 | | | 17,191 | | 16,946 | | |\n| 28 | Pre-tax earnings | 3,916 | | | 1,736 | | | 9,153 | | 5,729 | | |\n| 29 | Provision for taxes | 873 | | | 520 | | | 1,978 | | 1,279 | | |\n| 30 | Net earnings | 3,043 | | | 1,216 | | | 7,175 | | 4,450 | | |\n| 31 | Preferred stock dividends | 152 | | | 145 | | | 353 | | 292 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 2,891 | | | $ | 1,071 | | $ | 6,822 | $ | 4,158 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 8.73 | | | $ | 3.09 | | $ | 20.44 | $ | 12.00 |\n| 36 | Diluted | $ | 8.62 | | | $ | 3.08 | | $ | 20.21 | $ | 11.91 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 329.8 | | 342.3 | | 332.6 | | 344.4 | | | | |\n| 40 | Diluted | 335.5 | | 347.2 | | 337.5 | | 349.2 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:-----------------------|:------|:---------------------|:------|:-----|:------|:------|:---|:------|:---|:------|\n| 2 | | Three MonthsEnded June | | Six MonthsEnded June | | | | | | | | |\n| 3 | $ in millions | 2024 | | 2023 | | 2024 | | 2023 | | | | |\n| 4 | Net earnings | $ | 3,043 | | | $ | 1,216 | | $ | 7,175 | $ | 4,450 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (4) | | | (12) | | | 22 | | (43) | | |\n| 7 | Debt valuation adjustment | 268 | | | (610) | | | (288) | | (611) | | |\n| 8 | Pension and postretirement liabilities | 6 | | | 10 | | | 22 | | 24 | | |\n| 9 | Available-for-sale securities | 147 | | | (24) | | | 262 | | 403 | | |\n| 10 | Other comprehensive income\/(loss) | 417 | | | (636) | | | 18 | | (227) | | |\n| 11 | Comprehensive income | $ | 3,460 | | | $ | 580 | | $ | 7,193 | $ | 4,223 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:----------------------------------|\n| 1 | 1 | Goldman Sachs June 2024 Form 10-Q |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,733 <\/td><\/td><\/td>$<\/td>1,432 <\/td><\/td><\/td>$<\/td>3,818 <\/td><\/td><\/td>$<\/td>3,010 <\/td><\/td><\/tr>
Investment management<\/td>2,533 <\/td><\/td><\/td>2,356 <\/td><\/td><\/td>5,024 <\/td><\/td><\/td>4,645 <\/td><\/td><\/tr>
Commissions and fees<\/td>1,051 <\/td><\/td><\/td>893 <\/td><\/td><\/td>2,128 <\/td><\/td><\/td>1,981 <\/td><\/td><\/tr>
Market making<\/td>4,225 <\/td><\/td><\/td>4,351 <\/td><\/td><\/td>10,217 <\/td><\/td><\/td>9,784 <\/td><\/td><\/tr>
Other principal transactions<\/td>947 <\/td><\/td><\/td>179 <\/td><\/td><\/td>1,907 <\/td><\/td><\/td>234 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,489 <\/td><\/td><\/td>9,211 <\/td><\/td><\/td>23,094 <\/td><\/td><\/td>19,654 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>20,440 <\/td><\/td><\/td>16,836 <\/td><\/td><\/td>39,995 <\/td><\/td><\/td>31,774 <\/td><\/td><\/tr>
Interest expense<\/td>18,198 <\/td><\/td><\/td>15,152 <\/td><\/td><\/td>36,145 <\/td><\/td><\/td>28,309 <\/td><\/td><\/tr>
Net interest income<\/td>2,242 <\/td><\/td><\/td>1,684 <\/td><\/td><\/td>3,850 <\/td><\/td><\/td>3,465 <\/td><\/td><\/tr>
Total net revenues<\/td>12,731 <\/td><\/td><\/td>10,895 <\/td><\/td><\/td>26,944 <\/td><\/td><\/td>23,119 <\/td><\/td><\/tr>
Provision for credit losses<\/td>282 <\/td><\/td><\/td>615 <\/td><\/td><\/td>600 <\/td><\/td><\/td>444 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,240 <\/td><\/td><\/td>3,619 <\/td><\/td><\/td>8,825 <\/td><\/td><\/td>7,709 <\/td><\/td><\/tr>
Transaction based<\/td>1,654 <\/td><\/td><\/td>1,385 <\/td><\/td><\/td>3,151 <\/td><\/td><\/td>2,790 <\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>146 <\/td><\/td><\/td>306 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Communications and technology<\/td>500 <\/td><\/td><\/td>482 <\/td><\/td><\/td>970 <\/td><\/td><\/td>948 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>646 <\/td><\/td><\/td>1,594 <\/td><\/td><\/td>1,273 <\/td><\/td><\/td>2,564 <\/td><\/td><\/tr>
Occupancy<\/td>244 <\/td><\/td><\/td>253 <\/td><\/td><\/td>491 <\/td><\/td><\/td>518 <\/td><\/td><\/tr>
Professional fees<\/td>393 <\/td><\/td><\/td>392 <\/td><\/td><\/td>777 <\/td><\/td><\/td>775 <\/td><\/td><\/tr>
Other expenses<\/td>703 <\/td><\/td><\/td>673 <\/td><\/td><\/td>1,398 <\/td><\/td><\/td>1,324 <\/td><\/td><\/tr>
Total operating expenses<\/td>8,533 <\/td><\/td><\/td>8,544 <\/td><\/td><\/td>17,191 <\/td><\/td><\/td>16,946 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>3,916 <\/td><\/td><\/td>1,736 <\/td><\/td><\/td>9,153 <\/td><\/td><\/td>5,729 <\/td><\/td><\/tr>
Provision for taxes<\/td>873 <\/td><\/td><\/td>520 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>1,279 <\/td><\/td><\/tr>
Net earnings<\/td>3,043 <\/td><\/td><\/td>1,216 <\/td><\/td><\/td>7,175 <\/td><\/td><\/td>4,450 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>152 <\/td><\/td><\/td>145 <\/td><\/td><\/td>353 <\/td><\/td><\/td>292 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>2,891 <\/td><\/td><\/td>$<\/td>1,071 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/td>$<\/td>4,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>8.73 <\/td><\/td><\/td>$<\/td>3.09 <\/td><\/td><\/td>$<\/td>20.44 <\/td><\/td><\/td>$<\/td>12.00 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>8.62 <\/td><\/td><\/td>$<\/td>3.08 <\/td><\/td><\/td>$<\/td>20.21 <\/td><\/td><\/td>$<\/td>11.91 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>329.8<\/td><\/td>342.3<\/td><\/td>332.6<\/td><\/td>344.4<\/td><\/tr>
Diluted<\/td>335.5<\/td><\/td>347.2<\/td><\/td>337.5<\/td><\/td>349.2<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net earnings<\/td>$<\/td>3,043 <\/td><\/td><\/td>$<\/td>1,216 <\/td><\/td><\/td>$<\/td>7,175 <\/td><\/td><\/td>$<\/td>4,450 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(4)<\/td><\/td><\/td>(12)<\/td><\/td><\/td>22 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>268 <\/td><\/td><\/td>(610)<\/td><\/td><\/td>(288)<\/td><\/td><\/td>(611)<\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>6 <\/td><\/td><\/td>10 <\/td><\/td><\/td>22 <\/td><\/td><\/td>24 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>147 <\/td><\/td><\/td>(24)<\/td><\/td><\/td>262 <\/td><\/td><\/td>403 <\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>417 <\/td><\/td><\/td>(636)<\/td><\/td><\/td>18 <\/td><\/td><\/td>(227)<\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,460 <\/td><\/td><\/td>$<\/td>580 <\/td><\/td><\/td>$<\/td>7,193 <\/td><\/td><\/td>$<\/td>4,223 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs June 2024 Form 10-Q<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
in millions, except per share amounts<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,733 <\/td><\/td><\/td>$<\/td>1,432 <\/td><\/td><\/td>$<\/td>3,818 <\/td><\/td><\/td>$<\/td>3,010 <\/td><\/td><\/tr>
Investment management<\/td>2,533 <\/td><\/td><\/td>2,356 <\/td><\/td><\/td>5,024 <\/td><\/td><\/td>4,645 <\/td><\/td><\/tr>
Commissions and fees<\/td>1,051 <\/td><\/td><\/td>893 <\/td><\/td><\/td>2,128 <\/td><\/td><\/td>1,981 <\/td><\/td><\/tr>
Market making<\/td>4,225 <\/td><\/td><\/td>4,351 <\/td><\/td><\/td>10,217 <\/td><\/td><\/td>9,784 <\/td><\/td><\/tr>
Other principal transactions<\/td>947 <\/td><\/td><\/td>179 <\/td><\/td><\/td>1,907 <\/td><\/td><\/td>234 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,489 <\/td><\/td><\/td>9,211 <\/td><\/td><\/td>23,094 <\/td><\/td><\/td>19,654 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>20,440 <\/td><\/td><\/td>16,836 <\/td><\/td><\/td>39,995 <\/td><\/td><\/td>31,774 <\/td><\/td><\/tr>
Interest expense<\/td>18,198 <\/td><\/td><\/td>15,152 <\/td><\/td><\/td>36,145 <\/td><\/td><\/td>28,309 <\/td><\/td><\/tr>
Net interest income<\/td>2,242 <\/td><\/td><\/td>1,684 <\/td><\/td><\/td>3,850 <\/td><\/td><\/td>3,465 <\/td><\/td><\/tr>
Total net revenues<\/td>12,731 <\/td><\/td><\/td>10,895 <\/td><\/td><\/td>26,944 <\/td><\/td><\/td>23,119 <\/td><\/td><\/tr>
Provision for credit losses<\/td>282 <\/td><\/td><\/td>615 <\/td><\/td><\/td>600 <\/td><\/td><\/td>444 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,240 <\/td><\/td><\/td>3,619 <\/td><\/td><\/td>8,825 <\/td><\/td><\/td>7,709 <\/td><\/td><\/tr>
Transaction based<\/td>1,654 <\/td><\/td><\/td>1,385 <\/td><\/td><\/td>3,151 <\/td><\/td><\/td>2,790 <\/td><\/td><\/tr>
Market development<\/td>153 <\/td><\/td><\/td>146 <\/td><\/td><\/td>306 <\/td><\/td><\/td>318 <\/td><\/td><\/tr>
Communications and technology<\/td>500 <\/td><\/td><\/td>482 <\/td><\/td><\/td>970 <\/td><\/td><\/td>948 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>646 <\/td><\/td><\/td>1,594 <\/td><\/td><\/td>1,273 <\/td><\/td><\/td>2,564 <\/td><\/td><\/tr>
Occupancy<\/td>244 <\/td><\/td><\/td>253 <\/td><\/td><\/td>491 <\/td><\/td><\/td>518 <\/td><\/td><\/tr>
Professional fees<\/td>393 <\/td><\/td><\/td>392 <\/td><\/td><\/td>777 <\/td><\/td><\/td>775 <\/td><\/td><\/tr>
Other expenses<\/td>703 <\/td><\/td><\/td>673 <\/td><\/td><\/td>1,398 <\/td><\/td><\/td>1,324 <\/td><\/td><\/tr>
Total operating expenses<\/td>8,533 <\/td><\/td><\/td>8,544 <\/td><\/td><\/td>17,191 <\/td><\/td><\/td>16,946 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>3,916 <\/td><\/td><\/td>1,736 <\/td><\/td><\/td>9,153 <\/td><\/td><\/td>5,729 <\/td><\/td><\/tr>
Provision for taxes<\/td>873 <\/td><\/td><\/td>520 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>1,279 <\/td><\/td><\/tr>
Net earnings<\/td>3,043 <\/td><\/td><\/td>1,216 <\/td><\/td><\/td>7,175 <\/td><\/td><\/td>4,450 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>152 <\/td><\/td><\/td>145 <\/td><\/td><\/td>353 <\/td><\/td><\/td>292 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>2,891 <\/td><\/td><\/td>$<\/td>1,071 <\/td><\/td><\/td>$<\/td>6,822 <\/td><\/td><\/td>$<\/td>4,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>8.73 <\/td><\/td><\/td>$<\/td>3.09 <\/td><\/td><\/td>$<\/td>20.44 <\/td><\/td><\/td>$<\/td>12.00 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>8.62 <\/td><\/td><\/td>$<\/td>3.08 <\/td><\/td><\/td>$<\/td>20.21 <\/td><\/td><\/td>$<\/td>11.91 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>329.8<\/td><\/td>342.3<\/td><\/td>332.6<\/td><\/td>344.4<\/td><\/tr>
Diluted<\/td>335.5<\/td><\/td>347.2<\/td><\/td>337.5<\/td><\/td>349.2<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded June<\/td><\/td>Six MonthsEnded June<\/td><\/tr>
$ in millions<\/td>2024<\/td><\/td>2023<\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
Net earnings<\/td>$<\/td>3,043 <\/td><\/td><\/td>$<\/td>1,216 <\/td><\/td><\/td>$<\/td>7,175 <\/td><\/td><\/td>$<\/td>4,450 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(4)<\/td><\/td><\/td>(12)<\/td><\/td><\/td>22 <\/td><\/td><\/td>(43)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>268 <\/td><\/td><\/td>(610)<\/td><\/td><\/td>(288)<\/td><\/td><\/td>(611)<\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>6 <\/td><\/td><\/td>10 <\/td><\/td><\/td>22 <\/td><\/td><\/td>24 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>147 <\/td><\/td><\/td>(24)<\/td><\/td><\/td>262 <\/td><\/td><\/td>403 <\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>417 <\/td><\/td><\/td>(636)<\/td><\/td><\/td>18 <\/td><\/td><\/td>(227)<\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>3,460 <\/td><\/td><\/td>$<\/td>580 <\/td><\/td><\/td>$<\/td>7,193 <\/td><\/td><\/td>$<\/td>4,223 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs June 2024 Form 10-Q<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra085","Question":"What is the Financial Leverage Ratio for Goldman Sachs as of June 2024?","ground_truth_answer":"The Financial Leverage Ratio for Goldman Sachs as of June 2024 is calculated as follows:\nFinancial Leverage Ratio = Total Assets \/ Shareholders' Equity\nTotal Assets (2024) = $1,653,313 million\nShareholders' Equity (2024) = $119,463 million\nFinancial Leverage Ratio = 1,653,313 \/ 119,463 = 13.84","question_type":"Ratio","page_number":2,"accession_number":"0000886982-24-000022","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra086","Question":"Could you provide the Long-term Debt to Capitalization Ratio for Goldman Sachs as of June 2024?","ground_truth_answer":"The Long-term Debt to Capitalization Ratio for Goldman Sachs as of June 2024 is calculated as follows:\nLong-term Debt to Capitalization Ratio = Long-term Debt \/ (Long-term Debt + Shareholders' Equity)\nLong-term Debt (2024) = $234,632 million\nShareholders' Equity (2024) = $119,463 million\nLong-term Debt to Capitalization Ratio = 234,632 \/ (234,632 + 119,463) = 0.66","question_type":"Ratio","page_number":2,"accession_number":"0000886982-24-000022","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra087","Question":"What was the Current Ratio for Goldman Sachs as of June 2024?","ground_truth_answer":"The Current Ratio for Goldman Sachs as of June 2024 is calculated as follows:\nCurrent Ratio = Current Assets \/ Current Liabilities\nCurrent Assets (2024) = $1,653,313 million\nCurrent Liabilities (2024) = $1,533,850 million\nCurrent Ratio = 1,653,313 \/ 1,533,850 = 1.08","question_type":"Ratio","page_number":2,"accession_number":"0000886982-24-000022","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra088","Question":"Could you share Goldman Sachs\u2019 Working Capital as of June 2024?","ground_truth_answer":"To calculate the working capital, we need to subtract the current liabilities from the current assets.\n\nFrom the given balance sheet, we can see that:\nCurrent\u00a0Assets=Cash\u00a0and\u00a0Cash\u00a0Equivalents+Securities\u00a0Purchased\u00a0Under\u00a0Agreements\u00a0to\u00a0Resell+Securities\u00a0Borrowed+Customer\u00a0and\u00a0Other\u00a0Receivables+Trading\u00a0Assets\n\nCurrent\u00a0Assets\u00a0(June\u00a02024)=206,326+198,626+204,621+142,000+521,981\n\nCurrent\u00a0Assets\u00a0(June\u00a02024)=1,273,554\n\nCurrent\u00a0Liabilities=Deposits+Securities\u00a0Sold\u00a0Under\u00a0Agreements\u00a0to\u00a0Repurchase+Securities\u00a0Loaned+Other\u00a0Secured\u00a0Financings+Customer\u00a0and\u00a0Other\u00a0Payables+Trading\u00a0Liabilities+Unsecured\u00a0Short-Term\u00a0Borrowings\n\nCurrent\u00a0Liabilities\u00a0(June\u00a02024)=433,105+238,139+63,935+23,123+242,986+199,660+76,769\n\nCurrent\u00a0Liabilities\u00a0(June\u00a02024)=1,277,717\n\nNow, we can calculate the working capital:\n\nWorking Capital = Current Assets - Current Liabilities\n= 1,273,554 - 1,277,717\n= -4,163\n\nSo, as of June 2024, Goldman Sachs' working capital is approximately -$4,163 million, meaning the company has a working capital deficit.","question_type":"Ratio","page_number":2,"accession_number":"0000886982-24-000022","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra089","Question":"What is the Cash Ratio for Goldman Sachs as of June 2024?","ground_truth_answer":"The Cash Ratio for Goldman Sachs as of June 2024 is calculated as follows:\nCash Ratio = Cash & Cash Equivalents \/ Current Liabilities\nCash & Cash Equivalents (2024) = $206,326 million\nCurrent Liabilities (2024) = $1,533,850 million\nCash Ratio = 206,326 \/ 1,533,850 = 0.13","question_type":"Ratio","page_number":2,"accession_number":"0000886982-24-000022","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | June | December | | | |\n| 3 | $ in millions | 2024 | 2023 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 206,326 | | $ | 241,577 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value) | 198,626 | | 223,805 | | |\n| 8 | Securities borrowed (includes $45,819 and $44,930 at fair value) | 204,621 | | 199,420 | | |\n| 9 | Customer and other receivables (includes $23 and $23 at fair value) | 142,000 | | 132,495 | | |\n| 10 | Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral) | 521,981 | | 477,510 | | |\n| 11 | Investments (includes $86,855 and $75,767 at fair value) | 160,924 | | 146,839 | | |\n| 12 | Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value) | 184,127 | | 183,358 | | |\n| 13 | Other assets (includes $243 and $366 at fair value) | 34,708 | | 36,590 | | |\n| 14 | Total assets | $ | 1,653,313 | | $ | 1,641,594 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $32,042 and $29,460 at fair value) | $ | 433,105 | | $ | 428,417 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 238,139 | | 249,887 | | |\n| 20 | Securities loaned (includes $10,775 and $8,934 at fair value) | 63,935 | | 60,483 | | |\n| 21 | Other secured financings (includes $22,868 and $12,554 at fair value) | 23,123 | | 13,194 | | |\n| 22 | Customer and other payables | 242,986 | | 230,728 | | |\n| 23 | Trading liabilities (at fair value) | 199,660 | | 200,355 | | |\n| 24 | Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value) | 76,769 | | 75,945 | | |\n| 25 | Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value) | 234,632 | | 241,877 | | |\n| 26 | Other liabilities (includes $142 and $266 at fair value) | 21,501 | | 23,803 | | |\n| 27 | Total liabilities | 1,533,850 | | 1,524,689 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $12,753 and $11,203 | 12,753 | | 11,203 | | |\n| 31 | Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,058 | | 5,121 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 61,350 | | 60,247 | | |\n| 35 | Retained earnings | 148,652 | | 143,688 | | |\n| 36 | Accumulated other comprehensive loss | (2,900) | | (2,918) | | |\n| 37 | Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares | (105,459) | | (100,445) | | |\n| 38 | Total shareholders' equity | 119,463 | | 116,905 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,653,313 | | $ | 1,641,594 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:----------------------------------|---:|\n| 1 | Goldman Sachs June 2024 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2024-06-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>June<\/td>December<\/td><\/tr>
$ in millions<\/td>2024<\/td>2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>206,326 <\/td><\/td>$<\/td>241,577 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $198,360 and $223,543 at fair value)<\/td>198,626 <\/td><\/td>223,805 <\/td><\/td><\/tr>
Securities borrowed (includes $45,819 and $44,930 at fair value)<\/td>204,621 <\/td><\/td>199,420 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $23 at fair value)<\/td>142,000 <\/td><\/td>132,495 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $117,586 and $110,567 pledged as collateral)<\/td>521,981 <\/td><\/td>477,510 <\/td><\/td><\/tr>
Investments (includes $86,855 and $75,767 at fair value)<\/td>160,924 <\/td><\/td>146,839 <\/td><\/td><\/tr>
Loans (net of allowance of $4,808 and $5,050, and includes $6,035 and $6,506 at fair value)<\/td>184,127 <\/td><\/td>183,358 <\/td><\/td><\/tr>
Other assets (includes $243 and $366 at fair value)<\/td>34,708 <\/td><\/td>36,590 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $32,042 and $29,460 at fair value)<\/td>$<\/td>433,105 <\/td><\/td>$<\/td>428,417 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>238,139 <\/td><\/td>249,887 <\/td><\/td><\/tr>
Securities loaned (includes $10,775 and $8,934 at fair value)<\/td>63,935 <\/td><\/td>60,483 <\/td><\/td><\/tr>
Other secured financings (includes $22,868 and $12,554 at fair value)<\/td>23,123 <\/td><\/td>13,194 <\/td><\/td><\/tr>
Customer and other payables<\/td>242,986 <\/td><\/td>230,728 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>199,660 <\/td><\/td>200,355 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $49,579 and $46,127 at fair value)<\/td>76,769 <\/td><\/td>75,945 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $88,361 and $86,410 at fair value)<\/td>234,632 <\/td><\/td>241,877 <\/td><\/td><\/tr>
Other liabilities (includes $142 and $266 at fair value)<\/td>21,501 <\/td><\/td>23,803 <\/td><\/td><\/tr>
Total liabilities<\/td>1,533,850 <\/td><\/td>1,524,689 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $12,753 and $11,203<\/td>12,753 <\/td><\/td>11,203 <\/td><\/td><\/tr>
Common stock; 927,414,906 and 922,895,030 shares issued, and 316,162,882 and 323,376,354 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,058 <\/td><\/td>5,121 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>61,350 <\/td><\/td>60,247 <\/td><\/td><\/tr>
Retained earnings<\/td>148,652 <\/td><\/td>143,688 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,900)<\/td><\/td>(2,918)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 611,252,026 and 599,518,678 shares<\/td>(105,459)<\/td><\/td>(100,445)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>119,463 <\/td><\/td>116,905 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,653,313 <\/td><\/td>$<\/td>1,641,594 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs June 2024 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra090","Question":"How was Goldman Sachs' Return on Equity (ROE) for the nine months ending in September 2023?","ground_truth_answer":"The Return on Equity (ROE) for Goldman Sachs for the nine months ended September 2023 is calculated as follows:\nROE = (Net Income \/ Shareholder's Equity) * 100\nNet Income (2023) = $6,508 million\nShareholder's Equity (2023) = $117,277 million\nROE = (6,508 \/ 117,277) * 100 = 5.55%","question_type":"Ratio","page_number":"1, 2","accession_number":"0000886982-23-000011","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:----------------------------|:------|:---------------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | in millions, except per share amounts | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,555 | | | $ | 1,544 | | $ | 4,565 | $ | 5,487 |\n| 6 | Investment management | 2,409 | | | 2,283 | | | 7,054 | | 6,747 | | |\n| 7 | Commissions and fees | 883 | | | 992 | | | 2,864 | | 3,066 | | |\n| 8 | Market making | 4,958 | | | 4,641 | | | 14,742 | | 15,583 | | |\n| 9 | Other principal transactions | 465 | | | 472 | | | 699 | | 285 | | |\n| 10 | Total non-interest revenues | 10,270 | | | 9,932 | | | 29,924 | | 31,168 | | |\n| 12 | Interest income | 18,257 | | | 8,550 | | | 50,031 | | 16,613 | | |\n| 13 | Interest expense | 16,710 | | | 6,507 | | | 45,019 | | 11,009 | | |\n| 14 | Net interest income | 1,547 | | | 2,043 | | | 5,012 | | 5,604 | | |\n| 15 | Total net revenues | 11,817 | | | 11,975 | | | 34,936 | | 36,772 | | |\n| 16 | Provision for credit losses | 7 | | | 515 | | | 451 | | 1,743 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,188 | | | 3,606 | | | 11,897 | | 11,384 | | |\n| 19 | Transaction based | 1,452 | | | 1,317 | | | 4,242 | | 3,878 | | |\n| 20 | Market development | 136 | | | 199 | | | 454 | | 596 | | |\n| 21 | Communications and technology | 468 | | | 459 | | | 1,416 | | 1,327 | | |\n| 22 | Depreciation and amortization | 1,512 | | | 666 | | | 4,076 | | 1,728 | | |\n| 23 | Occupancy | 267 | | | 255 | | | 785 | | 765 | | |\n| 24 | Professional fees | 377 | | | 465 | | | 1,152 | | 1,392 | | |\n| 25 | Other expenses | 654 | | | 737 | | | 1,978 | | 2,003 | | |\n| 26 | Total operating expenses | 9,054 | | | 7,704 | | | 26,000 | | 23,073 | | |\n| 28 | Pre-tax earnings | 2,756 | | | 3,756 | | | 8,485 | | 11,956 | | |\n| 29 | Provision for taxes | 698 | | | 687 | | | 1,977 | | 2,021 | | |\n| 30 | Net earnings | 2,058 | | | 3,069 | | | 6,508 | | 9,935 | | |\n| 31 | Preferred stock dividends | 176 | | | 107 | | | 468 | | 356 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 1,882 | | | $ | 2,962 | | $ | 6,040 | $ | 9,579 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 5.52 | | | $ | 8.35 | | $ | 17.52 | $ | 27.03 |\n| 36 | Diluted | $ | 5.47 | | | $ | 8.25 | | $ | 17.39 | $ | 26.71 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 338.7 | | 352.8 | | 342.5 | | 353.0 | | | | |\n| 40 | Diluted | 343.9 | | 359.2 | | 347.4 | | 358.6 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:----------------------------|:------|:---------------------------|:------|:-----|:------|:------|:---|:--------|:---|:-------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | $ in millions | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Net earnings | $ | 2,058 | | | $ | 3,069 | | $ | 6,508 | $ | 9,935 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (16) | | | 26 | | | (59) | | (5) | | |\n| 7 | Debt valuation adjustment | 328 | | | 673 | | | (283) | | 2,601 | | |\n| 8 | Pension and postretirement liabilities | 9 | | | (2) | | | 33 | | 10 | | |\n| 9 | Available-for-sale securities | 317 | | | (615) | | | 720 | | (2,410) | | |\n| 10 | Other comprehensive income | 638 | | | 82 | | | 411 | | 196 | | |\n| 11 | Comprehensive income | $ | 2,696 | | | $ | 3,151 | | $ | 6,919 | $ | 10,131 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:---------------------------------------|\n| 1 | 1 | Goldman Sachs September 2023 Form 10-Q |\n\n, GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | September | December | | | |\n| 3 | $ in millions | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 239,879 | | $ | 241,825 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value) | 190,695 | | 225,117 | | |\n| 8 | Securities borrowed (includes $36,792 and $38,578 at fair value) | 196,925 | | 189,041 | | |\n| 9 | Customer and other receivables (includes $23 and $25 at fair value) | 140,866 | | 135,448 | | |\n| 10 | Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral) | 448,060 | | 301,245 | | |\n| 11 | Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral) | 145,530 | | 130,629 | | |\n| 12 | Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value) | 178,257 | | 179,286 | | |\n| 13 | Other assets (includes $324 and $145 at fair value) | 36,941 | | 39,208 | | |\n| 14 | Total assets | $ | 1,577,153 | | $ | 1,441,799 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $28,557 and $15,746 at fair value) | $ | 402,962 | | $ | 386,665 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 225,679 | | 110,349 | | |\n| 20 | Securities loaned (includes $8,178 and $4,372 at fair value) | 54,926 | | 30,727 | | |\n| 21 | Other secured financings (includes $14,114 and $12,756 at fair value) | 14,728 | | 13,946 | | |\n| 22 | Customer and other payables | 252,342 | | 262,045 | | |\n| 23 | Trading liabilities (at fair value) | 195,123 | | 191,324 | | |\n| 24 | Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value) | 70,009 | | 60,961 | | |\n| 25 | Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value) | 224,024 | | 247,138 | | |\n| 26 | Other liabilities (includes $614 and $159 at fair value) | 20,083 | | 21,455 | | |\n| 27 | Total liabilities | 1,459,876 | | 1,324,610 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $10,703 | 11,203 | | 10,703 | | |\n| 31 | Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,117 | | 5,696 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 60,233 | | 59,050 | | |\n| 35 | Retained earnings | 142,743 | | 139,372 | | |\n| 36 | Accumulated other comprehensive loss | (2,599) | | (3,010) | | |\n| 37 | Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares | (99,429) | | (94,631) | | |\n| 38 | Total shareholders' equity | 117,277 | | 117,189 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,577,153 | | $ | 1,441,799 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:---------------------------------------|---:|\n| 1 | Goldman Sachs September 2023 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:----------------------------|:------|:---------------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | in millions, except per share amounts | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,555 | | | $ | 1,544 | | $ | 4,565 | $ | 5,487 |\n| 6 | Investment management | 2,409 | | | 2,283 | | | 7,054 | | 6,747 | | |\n| 7 | Commissions and fees | 883 | | | 992 | | | 2,864 | | 3,066 | | |\n| 8 | Market making | 4,958 | | | 4,641 | | | 14,742 | | 15,583 | | |\n| 9 | Other principal transactions | 465 | | | 472 | | | 699 | | 285 | | |\n| 10 | Total non-interest revenues | 10,270 | | | 9,932 | | | 29,924 | | 31,168 | | |\n| 12 | Interest income | 18,257 | | | 8,550 | | | 50,031 | | 16,613 | | |\n| 13 | Interest expense | 16,710 | | | 6,507 | | | 45,019 | | 11,009 | | |\n| 14 | Net interest income | 1,547 | | | 2,043 | | | 5,012 | | 5,604 | | |\n| 15 | Total net revenues | 11,817 | | | 11,975 | | | 34,936 | | 36,772 | | |\n| 16 | Provision for credit losses | 7 | | | 515 | | | 451 | | 1,743 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,188 | | | 3,606 | | | 11,897 | | 11,384 | | |\n| 19 | Transaction based | 1,452 | | | 1,317 | | | 4,242 | | 3,878 | | |\n| 20 | Market development | 136 | | | 199 | | | 454 | | 596 | | |\n| 21 | Communications and technology | 468 | | | 459 | | | 1,416 | | 1,327 | | |\n| 22 | Depreciation and amortization | 1,512 | | | 666 | | | 4,076 | | 1,728 | | |\n| 23 | Occupancy | 267 | | | 255 | | | 785 | | 765 | | |\n| 24 | Professional fees | 377 | | | 465 | | | 1,152 | | 1,392 | | |\n| 25 | Other expenses | 654 | | | 737 | | | 1,978 | | 2,003 | | |\n| 26 | Total operating expenses | 9,054 | | | 7,704 | | | 26,000 | | 23,073 | | |\n| 28 | Pre-tax earnings | 2,756 | | | 3,756 | | | 8,485 | | 11,956 | | |\n| 29 | Provision for taxes | 698 | | | 687 | | | 1,977 | | 2,021 | | |\n| 30 | Net earnings | 2,058 | | | 3,069 | | | 6,508 | | 9,935 | | |\n| 31 | Preferred stock dividends | 176 | | | 107 | | | 468 | | 356 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 1,882 | | | $ | 2,962 | | $ | 6,040 | $ | 9,579 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 5.52 | | | $ | 8.35 | | $ | 17.52 | $ | 27.03 |\n| 36 | Diluted | $ | 5.47 | | | $ | 8.25 | | $ | 17.39 | $ | 26.71 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 338.7 | | 352.8 | | 342.5 | | 353.0 | | | | |\n| 40 | Diluted | 343.9 | | 359.2 | | 347.4 | | 358.6 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:----------------------------|:------|:---------------------------|:------|:-----|:------|:------|:---|:--------|:---|:-------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | $ in millions | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Net earnings | $ | 2,058 | | | $ | 3,069 | | $ | 6,508 | $ | 9,935 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (16) | | | 26 | | | (59) | | (5) | | |\n| 7 | Debt valuation adjustment | 328 | | | 673 | | | (283) | | 2,601 | | |\n| 8 | Pension and postretirement liabilities | 9 | | | (2) | | | 33 | | 10 | | |\n| 9 | Available-for-sale securities | 317 | | | (615) | | | 720 | | (2,410) | | |\n| 10 | Other comprehensive income | 638 | | | 82 | | | 411 | | 196 | | |\n| 11 | Comprehensive income | $ | 2,696 | | | $ | 3,151 | | $ | 6,919 | $ | 10,131 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:---------------------------------------|\n| 1 | 1 | Goldman Sachs September 2023 Form 10-Q |\n\n, \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | September | December | | | |\n| 3 | $ in millions | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 239,879 | | $ | 241,825 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value) | 190,695 | | 225,117 | | |\n| 8 | Securities borrowed (includes $36,792 and $38,578 at fair value) | 196,925 | | 189,041 | | |\n| 9 | Customer and other receivables (includes $23 and $25 at fair value) | 140,866 | | 135,448 | | |\n| 10 | Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral) | 448,060 | | 301,245 | | |\n| 11 | Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral) | 145,530 | | 130,629 | | |\n| 12 | Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value) | 178,257 | | 179,286 | | |\n| 13 | Other assets (includes $324 and $145 at fair value) | 36,941 | | 39,208 | | |\n| 14 | Total assets | $ | 1,577,153 | | $ | 1,441,799 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $28,557 and $15,746 at fair value) | $ | 402,962 | | $ | 386,665 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 225,679 | | 110,349 | | |\n| 20 | Securities loaned (includes $8,178 and $4,372 at fair value) | 54,926 | | 30,727 | | |\n| 21 | Other secured financings (includes $14,114 and $12,756 at fair value) | 14,728 | | 13,946 | | |\n| 22 | Customer and other payables | 252,342 | | 262,045 | | |\n| 23 | Trading liabilities (at fair value) | 195,123 | | 191,324 | | |\n| 24 | Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value) | 70,009 | | 60,961 | | |\n| 25 | Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value) | 224,024 | | 247,138 | | |\n| 26 | Other liabilities (includes $614 and $159 at fair value) | 20,083 | | 21,455 | | |\n| 27 | Total liabilities | 1,459,876 | | 1,324,610 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $10,703 | 11,203 | | 10,703 | | |\n| 31 | Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,117 | | 5,696 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 60,233 | | 59,050 | | |\n| 35 | Retained earnings | 142,743 | | 139,372 | | |\n| 36 | Accumulated other comprehensive loss | (2,599) | | (3,010) | | |\n| 37 | Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares | (99,429) | | (94,631) | | |\n| 38 | Total shareholders' equity | 117,277 | | 117,189 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,577,153 | | $ | 1,441,799 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:---------------------------------------|---:|\n| 1 | Goldman Sachs September 2023 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
in millions, except per share amounts<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,555 <\/td><\/td><\/td>$<\/td>1,544 <\/td><\/td><\/td>$<\/td>4,565 <\/td><\/td><\/td>$<\/td>5,487 <\/td><\/td><\/tr>
Investment management<\/td>2,409 <\/td><\/td><\/td>2,283 <\/td><\/td><\/td>7,054 <\/td><\/td><\/td>6,747 <\/td><\/td><\/tr>
Commissions and fees<\/td>883 <\/td><\/td><\/td>992 <\/td><\/td><\/td>2,864 <\/td><\/td><\/td>3,066 <\/td><\/td><\/tr>
Market making<\/td>4,958 <\/td><\/td><\/td>4,641 <\/td><\/td><\/td>14,742 <\/td><\/td><\/td>15,583 <\/td><\/td><\/tr>
Other principal transactions<\/td>465 <\/td><\/td><\/td>472 <\/td><\/td><\/td>699 <\/td><\/td><\/td>285 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,270 <\/td><\/td><\/td>9,932 <\/td><\/td><\/td>29,924 <\/td><\/td><\/td>31,168 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>18,257 <\/td><\/td><\/td>8,550 <\/td><\/td><\/td>50,031 <\/td><\/td><\/td>16,613 <\/td><\/td><\/tr>
Interest expense<\/td>16,710 <\/td><\/td><\/td>6,507 <\/td><\/td><\/td>45,019 <\/td><\/td><\/td>11,009 <\/td><\/td><\/tr>
Net interest income<\/td>1,547 <\/td><\/td><\/td>2,043 <\/td><\/td><\/td>5,012 <\/td><\/td><\/td>5,604 <\/td><\/td><\/tr>
Total net revenues<\/td>11,817 <\/td><\/td><\/td>11,975 <\/td><\/td><\/td>34,936 <\/td><\/td><\/td>36,772 <\/td><\/td><\/tr>
Provision for credit losses<\/td>7 <\/td><\/td><\/td>515 <\/td><\/td><\/td>451 <\/td><\/td><\/td>1,743 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,188 <\/td><\/td><\/td>3,606 <\/td><\/td><\/td>11,897 <\/td><\/td><\/td>11,384 <\/td><\/td><\/tr>
Transaction based<\/td>1,452 <\/td><\/td><\/td>1,317 <\/td><\/td><\/td>4,242 <\/td><\/td><\/td>3,878 <\/td><\/td><\/tr>
Market development<\/td>136 <\/td><\/td><\/td>199 <\/td><\/td><\/td>454 <\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Communications and technology<\/td>468 <\/td><\/td><\/td>459 <\/td><\/td><\/td>1,416 <\/td><\/td><\/td>1,327 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>1,512 <\/td><\/td><\/td>666 <\/td><\/td><\/td>4,076 <\/td><\/td><\/td>1,728 <\/td><\/td><\/tr>
Occupancy<\/td>267 <\/td><\/td><\/td>255 <\/td><\/td><\/td>785 <\/td><\/td><\/td>765 <\/td><\/td><\/tr>
Professional fees<\/td>377 <\/td><\/td><\/td>465 <\/td><\/td><\/td>1,152 <\/td><\/td><\/td>1,392 <\/td><\/td><\/tr>
Other expenses<\/td>654 <\/td><\/td><\/td>737 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>2,003 <\/td><\/td><\/tr>
Total operating expenses<\/td>9,054 <\/td><\/td><\/td>7,704 <\/td><\/td><\/td>26,000 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>2,756 <\/td><\/td><\/td>3,756 <\/td><\/td><\/td>8,485 <\/td><\/td><\/td>11,956 <\/td><\/td><\/tr>
Provision for taxes<\/td>698 <\/td><\/td><\/td>687 <\/td><\/td><\/td>1,977 <\/td><\/td><\/td>2,021 <\/td><\/td><\/tr>
Net earnings<\/td>2,058 <\/td><\/td><\/td>3,069 <\/td><\/td><\/td>6,508 <\/td><\/td><\/td>9,935 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>176 <\/td><\/td><\/td>107 <\/td><\/td><\/td>468 <\/td><\/td><\/td>356 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>1,882 <\/td><\/td><\/td>$<\/td>2,962 <\/td><\/td><\/td>$<\/td>6,040 <\/td><\/td><\/td>$<\/td>9,579 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>5.52 <\/td><\/td><\/td>$<\/td>8.35 <\/td><\/td><\/td>$<\/td>17.52 <\/td><\/td><\/td>$<\/td>27.03 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>5.47 <\/td><\/td><\/td>$<\/td>8.25 <\/td><\/td><\/td>$<\/td>17.39 <\/td><\/td><\/td>$<\/td>26.71 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>338.7<\/td><\/td>352.8<\/td><\/td>342.5<\/td><\/td>353.0<\/td><\/tr>
Diluted<\/td>343.9<\/td><\/td>359.2<\/td><\/td>347.4<\/td><\/td>358.6<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
$ in millions<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Net earnings<\/td>$<\/td>2,058 <\/td><\/td><\/td>$<\/td>3,069 <\/td><\/td><\/td>$<\/td>6,508 <\/td><\/td><\/td>$<\/td>9,935 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(16)<\/td><\/td><\/td>26 <\/td><\/td><\/td>(59)<\/td><\/td><\/td>(5)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>328 <\/td><\/td><\/td>673 <\/td><\/td><\/td>(283)<\/td><\/td><\/td>2,601 <\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>9 <\/td><\/td><\/td>(2)<\/td><\/td><\/td>33 <\/td><\/td><\/td>10 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>317 <\/td><\/td><\/td>(615)<\/td><\/td><\/td>720 <\/td><\/td><\/td>(2,410)<\/td><\/td><\/tr>
Other comprehensive income<\/td>638 <\/td><\/td><\/td>82 <\/td><\/td><\/td>411 <\/td><\/td><\/td>196 <\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>2,696 <\/td><\/td><\/td>$<\/td>3,151 <\/td><\/td><\/td>$<\/td>6,919 <\/td><\/td><\/td>$<\/td>10,131 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs September 2023 Form 10-Q<\/td><\/tr><\/table>\n, GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>September<\/td>December<\/td><\/tr>
$ in millions<\/td>2023<\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>239,879 <\/td><\/td>$<\/td>241,825 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value)<\/td>190,695 <\/td><\/td>225,117 <\/td><\/td><\/tr>
Securities borrowed (includes $36,792 and $38,578 at fair value)<\/td>196,925 <\/td><\/td>189,041 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $25 at fair value)<\/td>140,866 <\/td><\/td>135,448 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral)<\/td>448,060 <\/td><\/td>301,245 <\/td><\/td><\/tr>
Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral)<\/td>145,530 <\/td><\/td>130,629 <\/td><\/td><\/tr>
Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value)<\/td>178,257 <\/td><\/td>179,286 <\/td><\/td><\/tr>
Other assets (includes $324 and $145 at fair value)<\/td>36,941 <\/td><\/td>39,208 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $28,557 and $15,746 at fair value)<\/td>$<\/td>402,962 <\/td><\/td>$<\/td>386,665 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>225,679 <\/td><\/td>110,349 <\/td><\/td><\/tr>
Securities loaned (includes $8,178 and $4,372 at fair value)<\/td>54,926 <\/td><\/td>30,727 <\/td><\/td><\/tr>
Other secured financings (includes $14,114 and $12,756 at fair value)<\/td>14,728 <\/td><\/td>13,946 <\/td><\/td><\/tr>
Customer and other payables<\/td>252,342 <\/td><\/td>262,045 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>195,123 <\/td><\/td>191,324 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value)<\/td>70,009 <\/td><\/td>60,961 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value)<\/td>224,024 <\/td><\/td>247,138 <\/td><\/td><\/tr>
Other liabilities (includes $614 and $159 at fair value)<\/td>20,083 <\/td><\/td>21,455 <\/td><\/td><\/tr>
Total liabilities<\/td>1,459,876 <\/td><\/td>1,324,610 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $10,703<\/td>11,203 <\/td><\/td>10,703 <\/td><\/td><\/tr>
Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,117 <\/td><\/td>5,696 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>60,233 <\/td><\/td>59,050 <\/td><\/td><\/tr>
Retained earnings<\/td>142,743 <\/td><\/td>139,372 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,599)<\/td><\/td>(3,010)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares<\/td>(99,429)<\/td><\/td>(94,631)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>117,277 <\/td><\/td>117,189 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs September 2023 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
in millions, except per share amounts<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,555 <\/td><\/td><\/td>$<\/td>1,544 <\/td><\/td><\/td>$<\/td>4,565 <\/td><\/td><\/td>$<\/td>5,487 <\/td><\/td><\/tr>
Investment management<\/td>2,409 <\/td><\/td><\/td>2,283 <\/td><\/td><\/td>7,054 <\/td><\/td><\/td>6,747 <\/td><\/td><\/tr>
Commissions and fees<\/td>883 <\/td><\/td><\/td>992 <\/td><\/td><\/td>2,864 <\/td><\/td><\/td>3,066 <\/td><\/td><\/tr>
Market making<\/td>4,958 <\/td><\/td><\/td>4,641 <\/td><\/td><\/td>14,742 <\/td><\/td><\/td>15,583 <\/td><\/td><\/tr>
Other principal transactions<\/td>465 <\/td><\/td><\/td>472 <\/td><\/td><\/td>699 <\/td><\/td><\/td>285 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,270 <\/td><\/td><\/td>9,932 <\/td><\/td><\/td>29,924 <\/td><\/td><\/td>31,168 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>18,257 <\/td><\/td><\/td>8,550 <\/td><\/td><\/td>50,031 <\/td><\/td><\/td>16,613 <\/td><\/td><\/tr>
Interest expense<\/td>16,710 <\/td><\/td><\/td>6,507 <\/td><\/td><\/td>45,019 <\/td><\/td><\/td>11,009 <\/td><\/td><\/tr>
Net interest income<\/td>1,547 <\/td><\/td><\/td>2,043 <\/td><\/td><\/td>5,012 <\/td><\/td><\/td>5,604 <\/td><\/td><\/tr>
Total net revenues<\/td>11,817 <\/td><\/td><\/td>11,975 <\/td><\/td><\/td>34,936 <\/td><\/td><\/td>36,772 <\/td><\/td><\/tr>
Provision for credit losses<\/td>7 <\/td><\/td><\/td>515 <\/td><\/td><\/td>451 <\/td><\/td><\/td>1,743 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,188 <\/td><\/td><\/td>3,606 <\/td><\/td><\/td>11,897 <\/td><\/td><\/td>11,384 <\/td><\/td><\/tr>
Transaction based<\/td>1,452 <\/td><\/td><\/td>1,317 <\/td><\/td><\/td>4,242 <\/td><\/td><\/td>3,878 <\/td><\/td><\/tr>
Market development<\/td>136 <\/td><\/td><\/td>199 <\/td><\/td><\/td>454 <\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Communications and technology<\/td>468 <\/td><\/td><\/td>459 <\/td><\/td><\/td>1,416 <\/td><\/td><\/td>1,327 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>1,512 <\/td><\/td><\/td>666 <\/td><\/td><\/td>4,076 <\/td><\/td><\/td>1,728 <\/td><\/td><\/tr>
Occupancy<\/td>267 <\/td><\/td><\/td>255 <\/td><\/td><\/td>785 <\/td><\/td><\/td>765 <\/td><\/td><\/tr>
Professional fees<\/td>377 <\/td><\/td><\/td>465 <\/td><\/td><\/td>1,152 <\/td><\/td><\/td>1,392 <\/td><\/td><\/tr>
Other expenses<\/td>654 <\/td><\/td><\/td>737 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>2,003 <\/td><\/td><\/tr>
Total operating expenses<\/td>9,054 <\/td><\/td><\/td>7,704 <\/td><\/td><\/td>26,000 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>2,756 <\/td><\/td><\/td>3,756 <\/td><\/td><\/td>8,485 <\/td><\/td><\/td>11,956 <\/td><\/td><\/tr>
Provision for taxes<\/td>698 <\/td><\/td><\/td>687 <\/td><\/td><\/td>1,977 <\/td><\/td><\/td>2,021 <\/td><\/td><\/tr>
Net earnings<\/td>2,058 <\/td><\/td><\/td>3,069 <\/td><\/td><\/td>6,508 <\/td><\/td><\/td>9,935 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>176 <\/td><\/td><\/td>107 <\/td><\/td><\/td>468 <\/td><\/td><\/td>356 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>1,882 <\/td><\/td><\/td>$<\/td>2,962 <\/td><\/td><\/td>$<\/td>6,040 <\/td><\/td><\/td>$<\/td>9,579 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>5.52 <\/td><\/td><\/td>$<\/td>8.35 <\/td><\/td><\/td>$<\/td>17.52 <\/td><\/td><\/td>$<\/td>27.03 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>5.47 <\/td><\/td><\/td>$<\/td>8.25 <\/td><\/td><\/td>$<\/td>17.39 <\/td><\/td><\/td>$<\/td>26.71 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>338.7<\/td><\/td>352.8<\/td><\/td>342.5<\/td><\/td>353.0<\/td><\/tr>
Diluted<\/td>343.9<\/td><\/td>359.2<\/td><\/td>347.4<\/td><\/td>358.6<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
$ in millions<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Net earnings<\/td>$<\/td>2,058 <\/td><\/td><\/td>$<\/td>3,069 <\/td><\/td><\/td>$<\/td>6,508 <\/td><\/td><\/td>$<\/td>9,935 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(16)<\/td><\/td><\/td>26 <\/td><\/td><\/td>(59)<\/td><\/td><\/td>(5)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>328 <\/td><\/td><\/td>673 <\/td><\/td><\/td>(283)<\/td><\/td><\/td>2,601 <\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>9 <\/td><\/td><\/td>(2)<\/td><\/td><\/td>33 <\/td><\/td><\/td>10 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>317 <\/td><\/td><\/td>(615)<\/td><\/td><\/td>720 <\/td><\/td><\/td>(2,410)<\/td><\/td><\/tr>
Other comprehensive income<\/td>638 <\/td><\/td><\/td>82 <\/td><\/td><\/td>411 <\/td><\/td><\/td>196 <\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>2,696 <\/td><\/td><\/td>$<\/td>3,151 <\/td><\/td><\/td>$<\/td>6,919 <\/td><\/td><\/td>$<\/td>10,131 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs September 2023 Form 10-Q<\/td><\/tr><\/table>\n, \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>September<\/td>December<\/td><\/tr>
$ in millions<\/td>2023<\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>239,879 <\/td><\/td>$<\/td>241,825 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value)<\/td>190,695 <\/td><\/td>225,117 <\/td><\/td><\/tr>
Securities borrowed (includes $36,792 and $38,578 at fair value)<\/td>196,925 <\/td><\/td>189,041 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $25 at fair value)<\/td>140,866 <\/td><\/td>135,448 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral)<\/td>448,060 <\/td><\/td>301,245 <\/td><\/td><\/tr>
Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral)<\/td>145,530 <\/td><\/td>130,629 <\/td><\/td><\/tr>
Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value)<\/td>178,257 <\/td><\/td>179,286 <\/td><\/td><\/tr>
Other assets (includes $324 and $145 at fair value)<\/td>36,941 <\/td><\/td>39,208 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $28,557 and $15,746 at fair value)<\/td>$<\/td>402,962 <\/td><\/td>$<\/td>386,665 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>225,679 <\/td><\/td>110,349 <\/td><\/td><\/tr>
Securities loaned (includes $8,178 and $4,372 at fair value)<\/td>54,926 <\/td><\/td>30,727 <\/td><\/td><\/tr>
Other secured financings (includes $14,114 and $12,756 at fair value)<\/td>14,728 <\/td><\/td>13,946 <\/td><\/td><\/tr>
Customer and other payables<\/td>252,342 <\/td><\/td>262,045 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>195,123 <\/td><\/td>191,324 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value)<\/td>70,009 <\/td><\/td>60,961 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value)<\/td>224,024 <\/td><\/td>247,138 <\/td><\/td><\/tr>
Other liabilities (includes $614 and $159 at fair value)<\/td>20,083 <\/td><\/td>21,455 <\/td><\/td><\/tr>
Total liabilities<\/td>1,459,876 <\/td><\/td>1,324,610 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $10,703<\/td>11,203 <\/td><\/td>10,703 <\/td><\/td><\/tr>
Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,117 <\/td><\/td>5,696 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>60,233 <\/td><\/td>59,050 <\/td><\/td><\/tr>
Retained earnings<\/td>142,743 <\/td><\/td>139,372 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,599)<\/td><\/td>(3,010)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares<\/td>(99,429)<\/td><\/td>(94,631)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>117,277 <\/td><\/td>117,189 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs September 2023 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra091","Question":"For Goldman Sachs, what was the Return on Assets (ROA) over the nine months up to September 2023?","ground_truth_answer":"The Return on Assets (ROA) for Goldman Sachs for the nine months ended September 2023 is calculated as follows:\nROA = (Net Income \/ Total Assets) * 100\nNet Income (2023) = $6,508 million\nTotal Assets (2023) = $1,577,153 million\nROA = (6,508 \/ 1,577,153) * 100 = 0.41%","question_type":"Ratio","page_number":"1, 2","accession_number":"0000886982-23-000011","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:----------------------------|:------|:---------------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | in millions, except per share amounts | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,555 | | | $ | 1,544 | | $ | 4,565 | $ | 5,487 |\n| 6 | Investment management | 2,409 | | | 2,283 | | | 7,054 | | 6,747 | | |\n| 7 | Commissions and fees | 883 | | | 992 | | | 2,864 | | 3,066 | | |\n| 8 | Market making | 4,958 | | | 4,641 | | | 14,742 | | 15,583 | | |\n| 9 | Other principal transactions | 465 | | | 472 | | | 699 | | 285 | | |\n| 10 | Total non-interest revenues | 10,270 | | | 9,932 | | | 29,924 | | 31,168 | | |\n| 12 | Interest income | 18,257 | | | 8,550 | | | 50,031 | | 16,613 | | |\n| 13 | Interest expense | 16,710 | | | 6,507 | | | 45,019 | | 11,009 | | |\n| 14 | Net interest income | 1,547 | | | 2,043 | | | 5,012 | | 5,604 | | |\n| 15 | Total net revenues | 11,817 | | | 11,975 | | | 34,936 | | 36,772 | | |\n| 16 | Provision for credit losses | 7 | | | 515 | | | 451 | | 1,743 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,188 | | | 3,606 | | | 11,897 | | 11,384 | | |\n| 19 | Transaction based | 1,452 | | | 1,317 | | | 4,242 | | 3,878 | | |\n| 20 | Market development | 136 | | | 199 | | | 454 | | 596 | | |\n| 21 | Communications and technology | 468 | | | 459 | | | 1,416 | | 1,327 | | |\n| 22 | Depreciation and amortization | 1,512 | | | 666 | | | 4,076 | | 1,728 | | |\n| 23 | Occupancy | 267 | | | 255 | | | 785 | | 765 | | |\n| 24 | Professional fees | 377 | | | 465 | | | 1,152 | | 1,392 | | |\n| 25 | Other expenses | 654 | | | 737 | | | 1,978 | | 2,003 | | |\n| 26 | Total operating expenses | 9,054 | | | 7,704 | | | 26,000 | | 23,073 | | |\n| 28 | Pre-tax earnings | 2,756 | | | 3,756 | | | 8,485 | | 11,956 | | |\n| 29 | Provision for taxes | 698 | | | 687 | | | 1,977 | | 2,021 | | |\n| 30 | Net earnings | 2,058 | | | 3,069 | | | 6,508 | | 9,935 | | |\n| 31 | Preferred stock dividends | 176 | | | 107 | | | 468 | | 356 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 1,882 | | | $ | 2,962 | | $ | 6,040 | $ | 9,579 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 5.52 | | | $ | 8.35 | | $ | 17.52 | $ | 27.03 |\n| 36 | Diluted | $ | 5.47 | | | $ | 8.25 | | $ | 17.39 | $ | 26.71 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 338.7 | | 352.8 | | 342.5 | | 353.0 | | | | |\n| 40 | Diluted | 343.9 | | 359.2 | | 347.4 | | 358.6 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:----------------------------|:------|:---------------------------|:------|:-----|:------|:------|:---|:--------|:---|:-------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | $ in millions | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Net earnings | $ | 2,058 | | | $ | 3,069 | | $ | 6,508 | $ | 9,935 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (16) | | | 26 | | | (59) | | (5) | | |\n| 7 | Debt valuation adjustment | 328 | | | 673 | | | (283) | | 2,601 | | |\n| 8 | Pension and postretirement liabilities | 9 | | | (2) | | | 33 | | 10 | | |\n| 9 | Available-for-sale securities | 317 | | | (615) | | | 720 | | (2,410) | | |\n| 10 | Other comprehensive income | 638 | | | 82 | | | 411 | | 196 | | |\n| 11 | Comprehensive income | $ | 2,696 | | | $ | 3,151 | | $ | 6,919 | $ | 10,131 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:---------------------------------------|\n| 1 | 1 | Goldman Sachs September 2023 Form 10-Q |\n\n, GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | September | December | | | |\n| 3 | $ in millions | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 239,879 | | $ | 241,825 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value) | 190,695 | | 225,117 | | |\n| 8 | Securities borrowed (includes $36,792 and $38,578 at fair value) | 196,925 | | 189,041 | | |\n| 9 | Customer and other receivables (includes $23 and $25 at fair value) | 140,866 | | 135,448 | | |\n| 10 | Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral) | 448,060 | | 301,245 | | |\n| 11 | Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral) | 145,530 | | 130,629 | | |\n| 12 | Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value) | 178,257 | | 179,286 | | |\n| 13 | Other assets (includes $324 and $145 at fair value) | 36,941 | | 39,208 | | |\n| 14 | Total assets | $ | 1,577,153 | | $ | 1,441,799 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $28,557 and $15,746 at fair value) | $ | 402,962 | | $ | 386,665 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 225,679 | | 110,349 | | |\n| 20 | Securities loaned (includes $8,178 and $4,372 at fair value) | 54,926 | | 30,727 | | |\n| 21 | Other secured financings (includes $14,114 and $12,756 at fair value) | 14,728 | | 13,946 | | |\n| 22 | Customer and other payables | 252,342 | | 262,045 | | |\n| 23 | Trading liabilities (at fair value) | 195,123 | | 191,324 | | |\n| 24 | Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value) | 70,009 | | 60,961 | | |\n| 25 | Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value) | 224,024 | | 247,138 | | |\n| 26 | Other liabilities (includes $614 and $159 at fair value) | 20,083 | | 21,455 | | |\n| 27 | Total liabilities | 1,459,876 | | 1,324,610 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $10,703 | 11,203 | | 10,703 | | |\n| 31 | Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,117 | | 5,696 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 60,233 | | 59,050 | | |\n| 35 | Retained earnings | 142,743 | | 139,372 | | |\n| 36 | Accumulated other comprehensive loss | (2,599) | | (3,010) | | |\n| 37 | Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares | (99,429) | | (94,631) | | |\n| 38 | Total shareholders' equity | 117,277 | | 117,189 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,577,153 | | $ | 1,441,799 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:---------------------------------------|---:|\n| 1 | Goldman Sachs September 2023 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:----------------------------|:------|:---------------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | in millions, except per share amounts | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,555 | | | $ | 1,544 | | $ | 4,565 | $ | 5,487 |\n| 6 | Investment management | 2,409 | | | 2,283 | | | 7,054 | | 6,747 | | |\n| 7 | Commissions and fees | 883 | | | 992 | | | 2,864 | | 3,066 | | |\n| 8 | Market making | 4,958 | | | 4,641 | | | 14,742 | | 15,583 | | |\n| 9 | Other principal transactions | 465 | | | 472 | | | 699 | | 285 | | |\n| 10 | Total non-interest revenues | 10,270 | | | 9,932 | | | 29,924 | | 31,168 | | |\n| 12 | Interest income | 18,257 | | | 8,550 | | | 50,031 | | 16,613 | | |\n| 13 | Interest expense | 16,710 | | | 6,507 | | | 45,019 | | 11,009 | | |\n| 14 | Net interest income | 1,547 | | | 2,043 | | | 5,012 | | 5,604 | | |\n| 15 | Total net revenues | 11,817 | | | 11,975 | | | 34,936 | | 36,772 | | |\n| 16 | Provision for credit losses | 7 | | | 515 | | | 451 | | 1,743 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,188 | | | 3,606 | | | 11,897 | | 11,384 | | |\n| 19 | Transaction based | 1,452 | | | 1,317 | | | 4,242 | | 3,878 | | |\n| 20 | Market development | 136 | | | 199 | | | 454 | | 596 | | |\n| 21 | Communications and technology | 468 | | | 459 | | | 1,416 | | 1,327 | | |\n| 22 | Depreciation and amortization | 1,512 | | | 666 | | | 4,076 | | 1,728 | | |\n| 23 | Occupancy | 267 | | | 255 | | | 785 | | 765 | | |\n| 24 | Professional fees | 377 | | | 465 | | | 1,152 | | 1,392 | | |\n| 25 | Other expenses | 654 | | | 737 | | | 1,978 | | 2,003 | | |\n| 26 | Total operating expenses | 9,054 | | | 7,704 | | | 26,000 | | 23,073 | | |\n| 28 | Pre-tax earnings | 2,756 | | | 3,756 | | | 8,485 | | 11,956 | | |\n| 29 | Provision for taxes | 698 | | | 687 | | | 1,977 | | 2,021 | | |\n| 30 | Net earnings | 2,058 | | | 3,069 | | | 6,508 | | 9,935 | | |\n| 31 | Preferred stock dividends | 176 | | | 107 | | | 468 | | 356 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 1,882 | | | $ | 2,962 | | $ | 6,040 | $ | 9,579 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 5.52 | | | $ | 8.35 | | $ | 17.52 | $ | 27.03 |\n| 36 | Diluted | $ | 5.47 | | | $ | 8.25 | | $ | 17.39 | $ | 26.71 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 338.7 | | 352.8 | | 342.5 | | 353.0 | | | | |\n| 40 | Diluted | 343.9 | | 359.2 | | 347.4 | | 358.6 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:----------------------------|:------|:---------------------------|:------|:-----|:------|:------|:---|:--------|:---|:-------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | $ in millions | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Net earnings | $ | 2,058 | | | $ | 3,069 | | $ | 6,508 | $ | 9,935 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (16) | | | 26 | | | (59) | | (5) | | |\n| 7 | Debt valuation adjustment | 328 | | | 673 | | | (283) | | 2,601 | | |\n| 8 | Pension and postretirement liabilities | 9 | | | (2) | | | 33 | | 10 | | |\n| 9 | Available-for-sale securities | 317 | | | (615) | | | 720 | | (2,410) | | |\n| 10 | Other comprehensive income | 638 | | | 82 | | | 411 | | 196 | | |\n| 11 | Comprehensive income | $ | 2,696 | | | $ | 3,151 | | $ | 6,919 | $ | 10,131 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:---------------------------------------|\n| 1 | 1 | Goldman Sachs September 2023 Form 10-Q |\n\n, \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | September | December | | | |\n| 3 | $ in millions | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 239,879 | | $ | 241,825 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value) | 190,695 | | 225,117 | | |\n| 8 | Securities borrowed (includes $36,792 and $38,578 at fair value) | 196,925 | | 189,041 | | |\n| 9 | Customer and other receivables (includes $23 and $25 at fair value) | 140,866 | | 135,448 | | |\n| 10 | Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral) | 448,060 | | 301,245 | | |\n| 11 | Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral) | 145,530 | | 130,629 | | |\n| 12 | Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value) | 178,257 | | 179,286 | | |\n| 13 | Other assets (includes $324 and $145 at fair value) | 36,941 | | 39,208 | | |\n| 14 | Total assets | $ | 1,577,153 | | $ | 1,441,799 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $28,557 and $15,746 at fair value) | $ | 402,962 | | $ | 386,665 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 225,679 | | 110,349 | | |\n| 20 | Securities loaned (includes $8,178 and $4,372 at fair value) | 54,926 | | 30,727 | | |\n| 21 | Other secured financings (includes $14,114 and $12,756 at fair value) | 14,728 | | 13,946 | | |\n| 22 | Customer and other payables | 252,342 | | 262,045 | | |\n| 23 | Trading liabilities (at fair value) | 195,123 | | 191,324 | | |\n| 24 | Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value) | 70,009 | | 60,961 | | |\n| 25 | Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value) | 224,024 | | 247,138 | | |\n| 26 | Other liabilities (includes $614 and $159 at fair value) | 20,083 | | 21,455 | | |\n| 27 | Total liabilities | 1,459,876 | | 1,324,610 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $10,703 | 11,203 | | 10,703 | | |\n| 31 | Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,117 | | 5,696 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 60,233 | | 59,050 | | |\n| 35 | Retained earnings | 142,743 | | 139,372 | | |\n| 36 | Accumulated other comprehensive loss | (2,599) | | (3,010) | | |\n| 37 | Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares | (99,429) | | (94,631) | | |\n| 38 | Total shareholders' equity | 117,277 | | 117,189 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,577,153 | | $ | 1,441,799 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:---------------------------------------|---:|\n| 1 | Goldman Sachs September 2023 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
in millions, except per share amounts<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,555 <\/td><\/td><\/td>$<\/td>1,544 <\/td><\/td><\/td>$<\/td>4,565 <\/td><\/td><\/td>$<\/td>5,487 <\/td><\/td><\/tr>
Investment management<\/td>2,409 <\/td><\/td><\/td>2,283 <\/td><\/td><\/td>7,054 <\/td><\/td><\/td>6,747 <\/td><\/td><\/tr>
Commissions and fees<\/td>883 <\/td><\/td><\/td>992 <\/td><\/td><\/td>2,864 <\/td><\/td><\/td>3,066 <\/td><\/td><\/tr>
Market making<\/td>4,958 <\/td><\/td><\/td>4,641 <\/td><\/td><\/td>14,742 <\/td><\/td><\/td>15,583 <\/td><\/td><\/tr>
Other principal transactions<\/td>465 <\/td><\/td><\/td>472 <\/td><\/td><\/td>699 <\/td><\/td><\/td>285 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,270 <\/td><\/td><\/td>9,932 <\/td><\/td><\/td>29,924 <\/td><\/td><\/td>31,168 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>18,257 <\/td><\/td><\/td>8,550 <\/td><\/td><\/td>50,031 <\/td><\/td><\/td>16,613 <\/td><\/td><\/tr>
Interest expense<\/td>16,710 <\/td><\/td><\/td>6,507 <\/td><\/td><\/td>45,019 <\/td><\/td><\/td>11,009 <\/td><\/td><\/tr>
Net interest income<\/td>1,547 <\/td><\/td><\/td>2,043 <\/td><\/td><\/td>5,012 <\/td><\/td><\/td>5,604 <\/td><\/td><\/tr>
Total net revenues<\/td>11,817 <\/td><\/td><\/td>11,975 <\/td><\/td><\/td>34,936 <\/td><\/td><\/td>36,772 <\/td><\/td><\/tr>
Provision for credit losses<\/td>7 <\/td><\/td><\/td>515 <\/td><\/td><\/td>451 <\/td><\/td><\/td>1,743 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,188 <\/td><\/td><\/td>3,606 <\/td><\/td><\/td>11,897 <\/td><\/td><\/td>11,384 <\/td><\/td><\/tr>
Transaction based<\/td>1,452 <\/td><\/td><\/td>1,317 <\/td><\/td><\/td>4,242 <\/td><\/td><\/td>3,878 <\/td><\/td><\/tr>
Market development<\/td>136 <\/td><\/td><\/td>199 <\/td><\/td><\/td>454 <\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Communications and technology<\/td>468 <\/td><\/td><\/td>459 <\/td><\/td><\/td>1,416 <\/td><\/td><\/td>1,327 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>1,512 <\/td><\/td><\/td>666 <\/td><\/td><\/td>4,076 <\/td><\/td><\/td>1,728 <\/td><\/td><\/tr>
Occupancy<\/td>267 <\/td><\/td><\/td>255 <\/td><\/td><\/td>785 <\/td><\/td><\/td>765 <\/td><\/td><\/tr>
Professional fees<\/td>377 <\/td><\/td><\/td>465 <\/td><\/td><\/td>1,152 <\/td><\/td><\/td>1,392 <\/td><\/td><\/tr>
Other expenses<\/td>654 <\/td><\/td><\/td>737 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>2,003 <\/td><\/td><\/tr>
Total operating expenses<\/td>9,054 <\/td><\/td><\/td>7,704 <\/td><\/td><\/td>26,000 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>2,756 <\/td><\/td><\/td>3,756 <\/td><\/td><\/td>8,485 <\/td><\/td><\/td>11,956 <\/td><\/td><\/tr>
Provision for taxes<\/td>698 <\/td><\/td><\/td>687 <\/td><\/td><\/td>1,977 <\/td><\/td><\/td>2,021 <\/td><\/td><\/tr>
Net earnings<\/td>2,058 <\/td><\/td><\/td>3,069 <\/td><\/td><\/td>6,508 <\/td><\/td><\/td>9,935 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>176 <\/td><\/td><\/td>107 <\/td><\/td><\/td>468 <\/td><\/td><\/td>356 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>1,882 <\/td><\/td><\/td>$<\/td>2,962 <\/td><\/td><\/td>$<\/td>6,040 <\/td><\/td><\/td>$<\/td>9,579 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>5.52 <\/td><\/td><\/td>$<\/td>8.35 <\/td><\/td><\/td>$<\/td>17.52 <\/td><\/td><\/td>$<\/td>27.03 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>5.47 <\/td><\/td><\/td>$<\/td>8.25 <\/td><\/td><\/td>$<\/td>17.39 <\/td><\/td><\/td>$<\/td>26.71 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>338.7<\/td><\/td>352.8<\/td><\/td>342.5<\/td><\/td>353.0<\/td><\/tr>
Diluted<\/td>343.9<\/td><\/td>359.2<\/td><\/td>347.4<\/td><\/td>358.6<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
$ in millions<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Net earnings<\/td>$<\/td>2,058 <\/td><\/td><\/td>$<\/td>3,069 <\/td><\/td><\/td>$<\/td>6,508 <\/td><\/td><\/td>$<\/td>9,935 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(16)<\/td><\/td><\/td>26 <\/td><\/td><\/td>(59)<\/td><\/td><\/td>(5)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>328 <\/td><\/td><\/td>673 <\/td><\/td><\/td>(283)<\/td><\/td><\/td>2,601 <\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>9 <\/td><\/td><\/td>(2)<\/td><\/td><\/td>33 <\/td><\/td><\/td>10 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>317 <\/td><\/td><\/td>(615)<\/td><\/td><\/td>720 <\/td><\/td><\/td>(2,410)<\/td><\/td><\/tr>
Other comprehensive income<\/td>638 <\/td><\/td><\/td>82 <\/td><\/td><\/td>411 <\/td><\/td><\/td>196 <\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>2,696 <\/td><\/td><\/td>$<\/td>3,151 <\/td><\/td><\/td>$<\/td>6,919 <\/td><\/td><\/td>$<\/td>10,131 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs September 2023 Form 10-Q<\/td><\/tr><\/table>\n, GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>September<\/td>December<\/td><\/tr>
$ in millions<\/td>2023<\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>239,879 <\/td><\/td>$<\/td>241,825 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value)<\/td>190,695 <\/td><\/td>225,117 <\/td><\/td><\/tr>
Securities borrowed (includes $36,792 and $38,578 at fair value)<\/td>196,925 <\/td><\/td>189,041 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $25 at fair value)<\/td>140,866 <\/td><\/td>135,448 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral)<\/td>448,060 <\/td><\/td>301,245 <\/td><\/td><\/tr>
Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral)<\/td>145,530 <\/td><\/td>130,629 <\/td><\/td><\/tr>
Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value)<\/td>178,257 <\/td><\/td>179,286 <\/td><\/td><\/tr>
Other assets (includes $324 and $145 at fair value)<\/td>36,941 <\/td><\/td>39,208 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $28,557 and $15,746 at fair value)<\/td>$<\/td>402,962 <\/td><\/td>$<\/td>386,665 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>225,679 <\/td><\/td>110,349 <\/td><\/td><\/tr>
Securities loaned (includes $8,178 and $4,372 at fair value)<\/td>54,926 <\/td><\/td>30,727 <\/td><\/td><\/tr>
Other secured financings (includes $14,114 and $12,756 at fair value)<\/td>14,728 <\/td><\/td>13,946 <\/td><\/td><\/tr>
Customer and other payables<\/td>252,342 <\/td><\/td>262,045 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>195,123 <\/td><\/td>191,324 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value)<\/td>70,009 <\/td><\/td>60,961 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value)<\/td>224,024 <\/td><\/td>247,138 <\/td><\/td><\/tr>
Other liabilities (includes $614 and $159 at fair value)<\/td>20,083 <\/td><\/td>21,455 <\/td><\/td><\/tr>
Total liabilities<\/td>1,459,876 <\/td><\/td>1,324,610 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $10,703<\/td>11,203 <\/td><\/td>10,703 <\/td><\/td><\/tr>
Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,117 <\/td><\/td>5,696 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>60,233 <\/td><\/td>59,050 <\/td><\/td><\/tr>
Retained earnings<\/td>142,743 <\/td><\/td>139,372 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,599)<\/td><\/td>(3,010)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares<\/td>(99,429)<\/td><\/td>(94,631)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>117,277 <\/td><\/td>117,189 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs September 2023 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
in millions, except per share amounts<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,555 <\/td><\/td><\/td>$<\/td>1,544 <\/td><\/td><\/td>$<\/td>4,565 <\/td><\/td><\/td>$<\/td>5,487 <\/td><\/td><\/tr>
Investment management<\/td>2,409 <\/td><\/td><\/td>2,283 <\/td><\/td><\/td>7,054 <\/td><\/td><\/td>6,747 <\/td><\/td><\/tr>
Commissions and fees<\/td>883 <\/td><\/td><\/td>992 <\/td><\/td><\/td>2,864 <\/td><\/td><\/td>3,066 <\/td><\/td><\/tr>
Market making<\/td>4,958 <\/td><\/td><\/td>4,641 <\/td><\/td><\/td>14,742 <\/td><\/td><\/td>15,583 <\/td><\/td><\/tr>
Other principal transactions<\/td>465 <\/td><\/td><\/td>472 <\/td><\/td><\/td>699 <\/td><\/td><\/td>285 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,270 <\/td><\/td><\/td>9,932 <\/td><\/td><\/td>29,924 <\/td><\/td><\/td>31,168 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>18,257 <\/td><\/td><\/td>8,550 <\/td><\/td><\/td>50,031 <\/td><\/td><\/td>16,613 <\/td><\/td><\/tr>
Interest expense<\/td>16,710 <\/td><\/td><\/td>6,507 <\/td><\/td><\/td>45,019 <\/td><\/td><\/td>11,009 <\/td><\/td><\/tr>
Net interest income<\/td>1,547 <\/td><\/td><\/td>2,043 <\/td><\/td><\/td>5,012 <\/td><\/td><\/td>5,604 <\/td><\/td><\/tr>
Total net revenues<\/td>11,817 <\/td><\/td><\/td>11,975 <\/td><\/td><\/td>34,936 <\/td><\/td><\/td>36,772 <\/td><\/td><\/tr>
Provision for credit losses<\/td>7 <\/td><\/td><\/td>515 <\/td><\/td><\/td>451 <\/td><\/td><\/td>1,743 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,188 <\/td><\/td><\/td>3,606 <\/td><\/td><\/td>11,897 <\/td><\/td><\/td>11,384 <\/td><\/td><\/tr>
Transaction based<\/td>1,452 <\/td><\/td><\/td>1,317 <\/td><\/td><\/td>4,242 <\/td><\/td><\/td>3,878 <\/td><\/td><\/tr>
Market development<\/td>136 <\/td><\/td><\/td>199 <\/td><\/td><\/td>454 <\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Communications and technology<\/td>468 <\/td><\/td><\/td>459 <\/td><\/td><\/td>1,416 <\/td><\/td><\/td>1,327 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>1,512 <\/td><\/td><\/td>666 <\/td><\/td><\/td>4,076 <\/td><\/td><\/td>1,728 <\/td><\/td><\/tr>
Occupancy<\/td>267 <\/td><\/td><\/td>255 <\/td><\/td><\/td>785 <\/td><\/td><\/td>765 <\/td><\/td><\/tr>
Professional fees<\/td>377 <\/td><\/td><\/td>465 <\/td><\/td><\/td>1,152 <\/td><\/td><\/td>1,392 <\/td><\/td><\/tr>
Other expenses<\/td>654 <\/td><\/td><\/td>737 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>2,003 <\/td><\/td><\/tr>
Total operating expenses<\/td>9,054 <\/td><\/td><\/td>7,704 <\/td><\/td><\/td>26,000 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>2,756 <\/td><\/td><\/td>3,756 <\/td><\/td><\/td>8,485 <\/td><\/td><\/td>11,956 <\/td><\/td><\/tr>
Provision for taxes<\/td>698 <\/td><\/td><\/td>687 <\/td><\/td><\/td>1,977 <\/td><\/td><\/td>2,021 <\/td><\/td><\/tr>
Net earnings<\/td>2,058 <\/td><\/td><\/td>3,069 <\/td><\/td><\/td>6,508 <\/td><\/td><\/td>9,935 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>176 <\/td><\/td><\/td>107 <\/td><\/td><\/td>468 <\/td><\/td><\/td>356 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>1,882 <\/td><\/td><\/td>$<\/td>2,962 <\/td><\/td><\/td>$<\/td>6,040 <\/td><\/td><\/td>$<\/td>9,579 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>5.52 <\/td><\/td><\/td>$<\/td>8.35 <\/td><\/td><\/td>$<\/td>17.52 <\/td><\/td><\/td>$<\/td>27.03 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>5.47 <\/td><\/td><\/td>$<\/td>8.25 <\/td><\/td><\/td>$<\/td>17.39 <\/td><\/td><\/td>$<\/td>26.71 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>338.7<\/td><\/td>352.8<\/td><\/td>342.5<\/td><\/td>353.0<\/td><\/tr>
Diluted<\/td>343.9<\/td><\/td>359.2<\/td><\/td>347.4<\/td><\/td>358.6<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
$ in millions<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Net earnings<\/td>$<\/td>2,058 <\/td><\/td><\/td>$<\/td>3,069 <\/td><\/td><\/td>$<\/td>6,508 <\/td><\/td><\/td>$<\/td>9,935 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(16)<\/td><\/td><\/td>26 <\/td><\/td><\/td>(59)<\/td><\/td><\/td>(5)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>328 <\/td><\/td><\/td>673 <\/td><\/td><\/td>(283)<\/td><\/td><\/td>2,601 <\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>9 <\/td><\/td><\/td>(2)<\/td><\/td><\/td>33 <\/td><\/td><\/td>10 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>317 <\/td><\/td><\/td>(615)<\/td><\/td><\/td>720 <\/td><\/td><\/td>(2,410)<\/td><\/td><\/tr>
Other comprehensive income<\/td>638 <\/td><\/td><\/td>82 <\/td><\/td><\/td>411 <\/td><\/td><\/td>196 <\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>2,696 <\/td><\/td><\/td>$<\/td>3,151 <\/td><\/td><\/td>$<\/td>6,919 <\/td><\/td><\/td>$<\/td>10,131 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs September 2023 Form 10-Q<\/td><\/tr><\/table>\n, \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>September<\/td>December<\/td><\/tr>
$ in millions<\/td>2023<\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>239,879 <\/td><\/td>$<\/td>241,825 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value)<\/td>190,695 <\/td><\/td>225,117 <\/td><\/td><\/tr>
Securities borrowed (includes $36,792 and $38,578 at fair value)<\/td>196,925 <\/td><\/td>189,041 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $25 at fair value)<\/td>140,866 <\/td><\/td>135,448 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral)<\/td>448,060 <\/td><\/td>301,245 <\/td><\/td><\/tr>
Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral)<\/td>145,530 <\/td><\/td>130,629 <\/td><\/td><\/tr>
Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value)<\/td>178,257 <\/td><\/td>179,286 <\/td><\/td><\/tr>
Other assets (includes $324 and $145 at fair value)<\/td>36,941 <\/td><\/td>39,208 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $28,557 and $15,746 at fair value)<\/td>$<\/td>402,962 <\/td><\/td>$<\/td>386,665 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>225,679 <\/td><\/td>110,349 <\/td><\/td><\/tr>
Securities loaned (includes $8,178 and $4,372 at fair value)<\/td>54,926 <\/td><\/td>30,727 <\/td><\/td><\/tr>
Other secured financings (includes $14,114 and $12,756 at fair value)<\/td>14,728 <\/td><\/td>13,946 <\/td><\/td><\/tr>
Customer and other payables<\/td>252,342 <\/td><\/td>262,045 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>195,123 <\/td><\/td>191,324 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value)<\/td>70,009 <\/td><\/td>60,961 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value)<\/td>224,024 <\/td><\/td>247,138 <\/td><\/td><\/tr>
Other liabilities (includes $614 and $159 at fair value)<\/td>20,083 <\/td><\/td>21,455 <\/td><\/td><\/tr>
Total liabilities<\/td>1,459,876 <\/td><\/td>1,324,610 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $10,703<\/td>11,203 <\/td><\/td>10,703 <\/td><\/td><\/tr>
Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,117 <\/td><\/td>5,696 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>60,233 <\/td><\/td>59,050 <\/td><\/td><\/tr>
Retained earnings<\/td>142,743 <\/td><\/td>139,372 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,599)<\/td><\/td>(3,010)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares<\/td>(99,429)<\/td><\/td>(94,631)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>117,277 <\/td><\/td>117,189 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs September 2023 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra092","Question":"What was the Net Profit Margin for Goldman Sachs over the nine-month span ending in September 2023?","ground_truth_answer":"The Net Profit Margin for Goldman Sachs for the nine months ended September 2023 is calculated as follows:\nNet Profit Margin = (Net Income \/ Revenue) * 100\nNet Income (2023) = $6,508 million\nRevenue (2023) = $34,936 million\nNet Profit Margin = (6,508 \/ 34,936) * 100 = 18.63%","question_type":"Ratio","page_number":1,"accession_number":"0000886982-23-000011","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:----------------------------|:------|:---------------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | in millions, except per share amounts | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,555 | | | $ | 1,544 | | $ | 4,565 | $ | 5,487 |\n| 6 | Investment management | 2,409 | | | 2,283 | | | 7,054 | | 6,747 | | |\n| 7 | Commissions and fees | 883 | | | 992 | | | 2,864 | | 3,066 | | |\n| 8 | Market making | 4,958 | | | 4,641 | | | 14,742 | | 15,583 | | |\n| 9 | Other principal transactions | 465 | | | 472 | | | 699 | | 285 | | |\n| 10 | Total non-interest revenues | 10,270 | | | 9,932 | | | 29,924 | | 31,168 | | |\n| 12 | Interest income | 18,257 | | | 8,550 | | | 50,031 | | 16,613 | | |\n| 13 | Interest expense | 16,710 | | | 6,507 | | | 45,019 | | 11,009 | | |\n| 14 | Net interest income | 1,547 | | | 2,043 | | | 5,012 | | 5,604 | | |\n| 15 | Total net revenues | 11,817 | | | 11,975 | | | 34,936 | | 36,772 | | |\n| 16 | Provision for credit losses | 7 | | | 515 | | | 451 | | 1,743 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,188 | | | 3,606 | | | 11,897 | | 11,384 | | |\n| 19 | Transaction based | 1,452 | | | 1,317 | | | 4,242 | | 3,878 | | |\n| 20 | Market development | 136 | | | 199 | | | 454 | | 596 | | |\n| 21 | Communications and technology | 468 | | | 459 | | | 1,416 | | 1,327 | | |\n| 22 | Depreciation and amortization | 1,512 | | | 666 | | | 4,076 | | 1,728 | | |\n| 23 | Occupancy | 267 | | | 255 | | | 785 | | 765 | | |\n| 24 | Professional fees | 377 | | | 465 | | | 1,152 | | 1,392 | | |\n| 25 | Other expenses | 654 | | | 737 | | | 1,978 | | 2,003 | | |\n| 26 | Total operating expenses | 9,054 | | | 7,704 | | | 26,000 | | 23,073 | | |\n| 28 | Pre-tax earnings | 2,756 | | | 3,756 | | | 8,485 | | 11,956 | | |\n| 29 | Provision for taxes | 698 | | | 687 | | | 1,977 | | 2,021 | | |\n| 30 | Net earnings | 2,058 | | | 3,069 | | | 6,508 | | 9,935 | | |\n| 31 | Preferred stock dividends | 176 | | | 107 | | | 468 | | 356 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 1,882 | | | $ | 2,962 | | $ | 6,040 | $ | 9,579 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 5.52 | | | $ | 8.35 | | $ | 17.52 | $ | 27.03 |\n| 36 | Diluted | $ | 5.47 | | | $ | 8.25 | | $ | 17.39 | $ | 26.71 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 338.7 | | 352.8 | | 342.5 | | 353.0 | | | | |\n| 40 | Diluted | 343.9 | | 359.2 | | 347.4 | | 358.6 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:----------------------------|:------|:---------------------------|:------|:-----|:------|:------|:---|:--------|:---|:-------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | $ in millions | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Net earnings | $ | 2,058 | | | $ | 3,069 | | $ | 6,508 | $ | 9,935 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (16) | | | 26 | | | (59) | | (5) | | |\n| 7 | Debt valuation adjustment | 328 | | | 673 | | | (283) | | 2,601 | | |\n| 8 | Pension and postretirement liabilities | 9 | | | (2) | | | 33 | | 10 | | |\n| 9 | Available-for-sale securities | 317 | | | (615) | | | 720 | | (2,410) | | |\n| 10 | Other comprehensive income | 638 | | | 82 | | | 411 | | 196 | | |\n| 11 | Comprehensive income | $ | 2,696 | | | $ | 3,151 | | $ | 6,919 | $ | 10,131 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:---------------------------------------|\n| 1 | 1 | Goldman Sachs September 2023 Form 10-Q |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:----------------------------|:------|:---------------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | in millions, except per share amounts | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,555 | | | $ | 1,544 | | $ | 4,565 | $ | 5,487 |\n| 6 | Investment management | 2,409 | | | 2,283 | | | 7,054 | | 6,747 | | |\n| 7 | Commissions and fees | 883 | | | 992 | | | 2,864 | | 3,066 | | |\n| 8 | Market making | 4,958 | | | 4,641 | | | 14,742 | | 15,583 | | |\n| 9 | Other principal transactions | 465 | | | 472 | | | 699 | | 285 | | |\n| 10 | Total non-interest revenues | 10,270 | | | 9,932 | | | 29,924 | | 31,168 | | |\n| 12 | Interest income | 18,257 | | | 8,550 | | | 50,031 | | 16,613 | | |\n| 13 | Interest expense | 16,710 | | | 6,507 | | | 45,019 | | 11,009 | | |\n| 14 | Net interest income | 1,547 | | | 2,043 | | | 5,012 | | 5,604 | | |\n| 15 | Total net revenues | 11,817 | | | 11,975 | | | 34,936 | | 36,772 | | |\n| 16 | Provision for credit losses | 7 | | | 515 | | | 451 | | 1,743 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,188 | | | 3,606 | | | 11,897 | | 11,384 | | |\n| 19 | Transaction based | 1,452 | | | 1,317 | | | 4,242 | | 3,878 | | |\n| 20 | Market development | 136 | | | 199 | | | 454 | | 596 | | |\n| 21 | Communications and technology | 468 | | | 459 | | | 1,416 | | 1,327 | | |\n| 22 | Depreciation and amortization | 1,512 | | | 666 | | | 4,076 | | 1,728 | | |\n| 23 | Occupancy | 267 | | | 255 | | | 785 | | 765 | | |\n| 24 | Professional fees | 377 | | | 465 | | | 1,152 | | 1,392 | | |\n| 25 | Other expenses | 654 | | | 737 | | | 1,978 | | 2,003 | | |\n| 26 | Total operating expenses | 9,054 | | | 7,704 | | | 26,000 | | 23,073 | | |\n| 28 | Pre-tax earnings | 2,756 | | | 3,756 | | | 8,485 | | 11,956 | | |\n| 29 | Provision for taxes | 698 | | | 687 | | | 1,977 | | 2,021 | | |\n| 30 | Net earnings | 2,058 | | | 3,069 | | | 6,508 | | 9,935 | | |\n| 31 | Preferred stock dividends | 176 | | | 107 | | | 468 | | 356 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 1,882 | | | $ | 2,962 | | $ | 6,040 | $ | 9,579 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 5.52 | | | $ | 8.35 | | $ | 17.52 | $ | 27.03 |\n| 36 | Diluted | $ | 5.47 | | | $ | 8.25 | | $ | 17.39 | $ | 26.71 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 338.7 | | 352.8 | | 342.5 | | 353.0 | | | | |\n| 40 | Diluted | 343.9 | | 359.2 | | 347.4 | | 358.6 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:----------------------------|:------|:---------------------------|:------|:-----|:------|:------|:---|:--------|:---|:-------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | $ in millions | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Net earnings | $ | 2,058 | | | $ | 3,069 | | $ | 6,508 | $ | 9,935 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (16) | | | 26 | | | (59) | | (5) | | |\n| 7 | Debt valuation adjustment | 328 | | | 673 | | | (283) | | 2,601 | | |\n| 8 | Pension and postretirement liabilities | 9 | | | (2) | | | 33 | | 10 | | |\n| 9 | Available-for-sale securities | 317 | | | (615) | | | 720 | | (2,410) | | |\n| 10 | Other comprehensive income | 638 | | | 82 | | | 411 | | 196 | | |\n| 11 | Comprehensive income | $ | 2,696 | | | $ | 3,151 | | $ | 6,919 | $ | 10,131 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:---------------------------------------|\n| 1 | 1 | Goldman Sachs September 2023 Form 10-Q |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
in millions, except per share amounts<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,555 <\/td><\/td><\/td>$<\/td>1,544 <\/td><\/td><\/td>$<\/td>4,565 <\/td><\/td><\/td>$<\/td>5,487 <\/td><\/td><\/tr>
Investment management<\/td>2,409 <\/td><\/td><\/td>2,283 <\/td><\/td><\/td>7,054 <\/td><\/td><\/td>6,747 <\/td><\/td><\/tr>
Commissions and fees<\/td>883 <\/td><\/td><\/td>992 <\/td><\/td><\/td>2,864 <\/td><\/td><\/td>3,066 <\/td><\/td><\/tr>
Market making<\/td>4,958 <\/td><\/td><\/td>4,641 <\/td><\/td><\/td>14,742 <\/td><\/td><\/td>15,583 <\/td><\/td><\/tr>
Other principal transactions<\/td>465 <\/td><\/td><\/td>472 <\/td><\/td><\/td>699 <\/td><\/td><\/td>285 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,270 <\/td><\/td><\/td>9,932 <\/td><\/td><\/td>29,924 <\/td><\/td><\/td>31,168 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>18,257 <\/td><\/td><\/td>8,550 <\/td><\/td><\/td>50,031 <\/td><\/td><\/td>16,613 <\/td><\/td><\/tr>
Interest expense<\/td>16,710 <\/td><\/td><\/td>6,507 <\/td><\/td><\/td>45,019 <\/td><\/td><\/td>11,009 <\/td><\/td><\/tr>
Net interest income<\/td>1,547 <\/td><\/td><\/td>2,043 <\/td><\/td><\/td>5,012 <\/td><\/td><\/td>5,604 <\/td><\/td><\/tr>
Total net revenues<\/td>11,817 <\/td><\/td><\/td>11,975 <\/td><\/td><\/td>34,936 <\/td><\/td><\/td>36,772 <\/td><\/td><\/tr>
Provision for credit losses<\/td>7 <\/td><\/td><\/td>515 <\/td><\/td><\/td>451 <\/td><\/td><\/td>1,743 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,188 <\/td><\/td><\/td>3,606 <\/td><\/td><\/td>11,897 <\/td><\/td><\/td>11,384 <\/td><\/td><\/tr>
Transaction based<\/td>1,452 <\/td><\/td><\/td>1,317 <\/td><\/td><\/td>4,242 <\/td><\/td><\/td>3,878 <\/td><\/td><\/tr>
Market development<\/td>136 <\/td><\/td><\/td>199 <\/td><\/td><\/td>454 <\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Communications and technology<\/td>468 <\/td><\/td><\/td>459 <\/td><\/td><\/td>1,416 <\/td><\/td><\/td>1,327 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>1,512 <\/td><\/td><\/td>666 <\/td><\/td><\/td>4,076 <\/td><\/td><\/td>1,728 <\/td><\/td><\/tr>
Occupancy<\/td>267 <\/td><\/td><\/td>255 <\/td><\/td><\/td>785 <\/td><\/td><\/td>765 <\/td><\/td><\/tr>
Professional fees<\/td>377 <\/td><\/td><\/td>465 <\/td><\/td><\/td>1,152 <\/td><\/td><\/td>1,392 <\/td><\/td><\/tr>
Other expenses<\/td>654 <\/td><\/td><\/td>737 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>2,003 <\/td><\/td><\/tr>
Total operating expenses<\/td>9,054 <\/td><\/td><\/td>7,704 <\/td><\/td><\/td>26,000 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>2,756 <\/td><\/td><\/td>3,756 <\/td><\/td><\/td>8,485 <\/td><\/td><\/td>11,956 <\/td><\/td><\/tr>
Provision for taxes<\/td>698 <\/td><\/td><\/td>687 <\/td><\/td><\/td>1,977 <\/td><\/td><\/td>2,021 <\/td><\/td><\/tr>
Net earnings<\/td>2,058 <\/td><\/td><\/td>3,069 <\/td><\/td><\/td>6,508 <\/td><\/td><\/td>9,935 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>176 <\/td><\/td><\/td>107 <\/td><\/td><\/td>468 <\/td><\/td><\/td>356 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>1,882 <\/td><\/td><\/td>$<\/td>2,962 <\/td><\/td><\/td>$<\/td>6,040 <\/td><\/td><\/td>$<\/td>9,579 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>5.52 <\/td><\/td><\/td>$<\/td>8.35 <\/td><\/td><\/td>$<\/td>17.52 <\/td><\/td><\/td>$<\/td>27.03 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>5.47 <\/td><\/td><\/td>$<\/td>8.25 <\/td><\/td><\/td>$<\/td>17.39 <\/td><\/td><\/td>$<\/td>26.71 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>338.7<\/td><\/td>352.8<\/td><\/td>342.5<\/td><\/td>353.0<\/td><\/tr>
Diluted<\/td>343.9<\/td><\/td>359.2<\/td><\/td>347.4<\/td><\/td>358.6<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
$ in millions<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Net earnings<\/td>$<\/td>2,058 <\/td><\/td><\/td>$<\/td>3,069 <\/td><\/td><\/td>$<\/td>6,508 <\/td><\/td><\/td>$<\/td>9,935 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(16)<\/td><\/td><\/td>26 <\/td><\/td><\/td>(59)<\/td><\/td><\/td>(5)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>328 <\/td><\/td><\/td>673 <\/td><\/td><\/td>(283)<\/td><\/td><\/td>2,601 <\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>9 <\/td><\/td><\/td>(2)<\/td><\/td><\/td>33 <\/td><\/td><\/td>10 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>317 <\/td><\/td><\/td>(615)<\/td><\/td><\/td>720 <\/td><\/td><\/td>(2,410)<\/td><\/td><\/tr>
Other comprehensive income<\/td>638 <\/td><\/td><\/td>82 <\/td><\/td><\/td>411 <\/td><\/td><\/td>196 <\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>2,696 <\/td><\/td><\/td>$<\/td>3,151 <\/td><\/td><\/td>$<\/td>6,919 <\/td><\/td><\/td>$<\/td>10,131 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs September 2023 Form 10-Q<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
in millions, except per share amounts<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,555 <\/td><\/td><\/td>$<\/td>1,544 <\/td><\/td><\/td>$<\/td>4,565 <\/td><\/td><\/td>$<\/td>5,487 <\/td><\/td><\/tr>
Investment management<\/td>2,409 <\/td><\/td><\/td>2,283 <\/td><\/td><\/td>7,054 <\/td><\/td><\/td>6,747 <\/td><\/td><\/tr>
Commissions and fees<\/td>883 <\/td><\/td><\/td>992 <\/td><\/td><\/td>2,864 <\/td><\/td><\/td>3,066 <\/td><\/td><\/tr>
Market making<\/td>4,958 <\/td><\/td><\/td>4,641 <\/td><\/td><\/td>14,742 <\/td><\/td><\/td>15,583 <\/td><\/td><\/tr>
Other principal transactions<\/td>465 <\/td><\/td><\/td>472 <\/td><\/td><\/td>699 <\/td><\/td><\/td>285 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,270 <\/td><\/td><\/td>9,932 <\/td><\/td><\/td>29,924 <\/td><\/td><\/td>31,168 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>18,257 <\/td><\/td><\/td>8,550 <\/td><\/td><\/td>50,031 <\/td><\/td><\/td>16,613 <\/td><\/td><\/tr>
Interest expense<\/td>16,710 <\/td><\/td><\/td>6,507 <\/td><\/td><\/td>45,019 <\/td><\/td><\/td>11,009 <\/td><\/td><\/tr>
Net interest income<\/td>1,547 <\/td><\/td><\/td>2,043 <\/td><\/td><\/td>5,012 <\/td><\/td><\/td>5,604 <\/td><\/td><\/tr>
Total net revenues<\/td>11,817 <\/td><\/td><\/td>11,975 <\/td><\/td><\/td>34,936 <\/td><\/td><\/td>36,772 <\/td><\/td><\/tr>
Provision for credit losses<\/td>7 <\/td><\/td><\/td>515 <\/td><\/td><\/td>451 <\/td><\/td><\/td>1,743 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,188 <\/td><\/td><\/td>3,606 <\/td><\/td><\/td>11,897 <\/td><\/td><\/td>11,384 <\/td><\/td><\/tr>
Transaction based<\/td>1,452 <\/td><\/td><\/td>1,317 <\/td><\/td><\/td>4,242 <\/td><\/td><\/td>3,878 <\/td><\/td><\/tr>
Market development<\/td>136 <\/td><\/td><\/td>199 <\/td><\/td><\/td>454 <\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Communications and technology<\/td>468 <\/td><\/td><\/td>459 <\/td><\/td><\/td>1,416 <\/td><\/td><\/td>1,327 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>1,512 <\/td><\/td><\/td>666 <\/td><\/td><\/td>4,076 <\/td><\/td><\/td>1,728 <\/td><\/td><\/tr>
Occupancy<\/td>267 <\/td><\/td><\/td>255 <\/td><\/td><\/td>785 <\/td><\/td><\/td>765 <\/td><\/td><\/tr>
Professional fees<\/td>377 <\/td><\/td><\/td>465 <\/td><\/td><\/td>1,152 <\/td><\/td><\/td>1,392 <\/td><\/td><\/tr>
Other expenses<\/td>654 <\/td><\/td><\/td>737 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>2,003 <\/td><\/td><\/tr>
Total operating expenses<\/td>9,054 <\/td><\/td><\/td>7,704 <\/td><\/td><\/td>26,000 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>2,756 <\/td><\/td><\/td>3,756 <\/td><\/td><\/td>8,485 <\/td><\/td><\/td>11,956 <\/td><\/td><\/tr>
Provision for taxes<\/td>698 <\/td><\/td><\/td>687 <\/td><\/td><\/td>1,977 <\/td><\/td><\/td>2,021 <\/td><\/td><\/tr>
Net earnings<\/td>2,058 <\/td><\/td><\/td>3,069 <\/td><\/td><\/td>6,508 <\/td><\/td><\/td>9,935 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>176 <\/td><\/td><\/td>107 <\/td><\/td><\/td>468 <\/td><\/td><\/td>356 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>1,882 <\/td><\/td><\/td>$<\/td>2,962 <\/td><\/td><\/td>$<\/td>6,040 <\/td><\/td><\/td>$<\/td>9,579 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>5.52 <\/td><\/td><\/td>$<\/td>8.35 <\/td><\/td><\/td>$<\/td>17.52 <\/td><\/td><\/td>$<\/td>27.03 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>5.47 <\/td><\/td><\/td>$<\/td>8.25 <\/td><\/td><\/td>$<\/td>17.39 <\/td><\/td><\/td>$<\/td>26.71 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>338.7<\/td><\/td>352.8<\/td><\/td>342.5<\/td><\/td>353.0<\/td><\/tr>
Diluted<\/td>343.9<\/td><\/td>359.2<\/td><\/td>347.4<\/td><\/td>358.6<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
$ in millions<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Net earnings<\/td>$<\/td>2,058 <\/td><\/td><\/td>$<\/td>3,069 <\/td><\/td><\/td>$<\/td>6,508 <\/td><\/td><\/td>$<\/td>9,935 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(16)<\/td><\/td><\/td>26 <\/td><\/td><\/td>(59)<\/td><\/td><\/td>(5)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>328 <\/td><\/td><\/td>673 <\/td><\/td><\/td>(283)<\/td><\/td><\/td>2,601 <\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>9 <\/td><\/td><\/td>(2)<\/td><\/td><\/td>33 <\/td><\/td><\/td>10 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>317 <\/td><\/td><\/td>(615)<\/td><\/td><\/td>720 <\/td><\/td><\/td>(2,410)<\/td><\/td><\/tr>
Other comprehensive income<\/td>638 <\/td><\/td><\/td>82 <\/td><\/td><\/td>411 <\/td><\/td><\/td>196 <\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>2,696 <\/td><\/td><\/td>$<\/td>3,151 <\/td><\/td><\/td>$<\/td>6,919 <\/td><\/td><\/td>$<\/td>10,131 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs September 2023 Form 10-Q<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra093","Question":"Can you provide the Operating Profit Margin for Goldman Sachs for the nine months ending September 2023?","ground_truth_answer":"The Operating Profit Margin for Goldman Sachs for the nine months ended September 2023 is calculated as follows:\nOperating Profit Margin = (Operating Profit \/ Revenue) * 100\nOperating Profit (2023) = $8,485 million\nRevenue (2023) = $34,936 million\nOperating Profit Margin = (8,485 \/ 34,936) * 100 = 24.28%","question_type":"Ratio","page_number":1,"accession_number":"0000886982-23-000011","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:----------------------------|:------|:---------------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | in millions, except per share amounts | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,555 | | | $ | 1,544 | | $ | 4,565 | $ | 5,487 |\n| 6 | Investment management | 2,409 | | | 2,283 | | | 7,054 | | 6,747 | | |\n| 7 | Commissions and fees | 883 | | | 992 | | | 2,864 | | 3,066 | | |\n| 8 | Market making | 4,958 | | | 4,641 | | | 14,742 | | 15,583 | | |\n| 9 | Other principal transactions | 465 | | | 472 | | | 699 | | 285 | | |\n| 10 | Total non-interest revenues | 10,270 | | | 9,932 | | | 29,924 | | 31,168 | | |\n| 12 | Interest income | 18,257 | | | 8,550 | | | 50,031 | | 16,613 | | |\n| 13 | Interest expense | 16,710 | | | 6,507 | | | 45,019 | | 11,009 | | |\n| 14 | Net interest income | 1,547 | | | 2,043 | | | 5,012 | | 5,604 | | |\n| 15 | Total net revenues | 11,817 | | | 11,975 | | | 34,936 | | 36,772 | | |\n| 16 | Provision for credit losses | 7 | | | 515 | | | 451 | | 1,743 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,188 | | | 3,606 | | | 11,897 | | 11,384 | | |\n| 19 | Transaction based | 1,452 | | | 1,317 | | | 4,242 | | 3,878 | | |\n| 20 | Market development | 136 | | | 199 | | | 454 | | 596 | | |\n| 21 | Communications and technology | 468 | | | 459 | | | 1,416 | | 1,327 | | |\n| 22 | Depreciation and amortization | 1,512 | | | 666 | | | 4,076 | | 1,728 | | |\n| 23 | Occupancy | 267 | | | 255 | | | 785 | | 765 | | |\n| 24 | Professional fees | 377 | | | 465 | | | 1,152 | | 1,392 | | |\n| 25 | Other expenses | 654 | | | 737 | | | 1,978 | | 2,003 | | |\n| 26 | Total operating expenses | 9,054 | | | 7,704 | | | 26,000 | | 23,073 | | |\n| 28 | Pre-tax earnings | 2,756 | | | 3,756 | | | 8,485 | | 11,956 | | |\n| 29 | Provision for taxes | 698 | | | 687 | | | 1,977 | | 2,021 | | |\n| 30 | Net earnings | 2,058 | | | 3,069 | | | 6,508 | | 9,935 | | |\n| 31 | Preferred stock dividends | 176 | | | 107 | | | 468 | | 356 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 1,882 | | | $ | 2,962 | | $ | 6,040 | $ | 9,579 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 5.52 | | | $ | 8.35 | | $ | 17.52 | $ | 27.03 |\n| 36 | Diluted | $ | 5.47 | | | $ | 8.25 | | $ | 17.39 | $ | 26.71 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 338.7 | | 352.8 | | 342.5 | | 353.0 | | | | |\n| 40 | Diluted | 343.9 | | 359.2 | | 347.4 | | 358.6 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:----------------------------|:------|:---------------------------|:------|:-----|:------|:------|:---|:--------|:---|:-------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | $ in millions | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Net earnings | $ | 2,058 | | | $ | 3,069 | | $ | 6,508 | $ | 9,935 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (16) | | | 26 | | | (59) | | (5) | | |\n| 7 | Debt valuation adjustment | 328 | | | 673 | | | (283) | | 2,601 | | |\n| 8 | Pension and postretirement liabilities | 9 | | | (2) | | | 33 | | 10 | | |\n| 9 | Available-for-sale securities | 317 | | | (615) | | | 720 | | (2,410) | | |\n| 10 | Other comprehensive income | 638 | | | 82 | | | 411 | | 196 | | |\n| 11 | Comprehensive income | $ | 2,696 | | | $ | 3,151 | | $ | 6,919 | $ | 10,131 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:---------------------------------------|\n| 1 | 1 | Goldman Sachs September 2023 Form 10-Q |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:----------------------------|:------|:---------------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | in millions, except per share amounts | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,555 | | | $ | 1,544 | | $ | 4,565 | $ | 5,487 |\n| 6 | Investment management | 2,409 | | | 2,283 | | | 7,054 | | 6,747 | | |\n| 7 | Commissions and fees | 883 | | | 992 | | | 2,864 | | 3,066 | | |\n| 8 | Market making | 4,958 | | | 4,641 | | | 14,742 | | 15,583 | | |\n| 9 | Other principal transactions | 465 | | | 472 | | | 699 | | 285 | | |\n| 10 | Total non-interest revenues | 10,270 | | | 9,932 | | | 29,924 | | 31,168 | | |\n| 12 | Interest income | 18,257 | | | 8,550 | | | 50,031 | | 16,613 | | |\n| 13 | Interest expense | 16,710 | | | 6,507 | | | 45,019 | | 11,009 | | |\n| 14 | Net interest income | 1,547 | | | 2,043 | | | 5,012 | | 5,604 | | |\n| 15 | Total net revenues | 11,817 | | | 11,975 | | | 34,936 | | 36,772 | | |\n| 16 | Provision for credit losses | 7 | | | 515 | | | 451 | | 1,743 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,188 | | | 3,606 | | | 11,897 | | 11,384 | | |\n| 19 | Transaction based | 1,452 | | | 1,317 | | | 4,242 | | 3,878 | | |\n| 20 | Market development | 136 | | | 199 | | | 454 | | 596 | | |\n| 21 | Communications and technology | 468 | | | 459 | | | 1,416 | | 1,327 | | |\n| 22 | Depreciation and amortization | 1,512 | | | 666 | | | 4,076 | | 1,728 | | |\n| 23 | Occupancy | 267 | | | 255 | | | 785 | | 765 | | |\n| 24 | Professional fees | 377 | | | 465 | | | 1,152 | | 1,392 | | |\n| 25 | Other expenses | 654 | | | 737 | | | 1,978 | | 2,003 | | |\n| 26 | Total operating expenses | 9,054 | | | 7,704 | | | 26,000 | | 23,073 | | |\n| 28 | Pre-tax earnings | 2,756 | | | 3,756 | | | 8,485 | | 11,956 | | |\n| 29 | Provision for taxes | 698 | | | 687 | | | 1,977 | | 2,021 | | |\n| 30 | Net earnings | 2,058 | | | 3,069 | | | 6,508 | | 9,935 | | |\n| 31 | Preferred stock dividends | 176 | | | 107 | | | 468 | | 356 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 1,882 | | | $ | 2,962 | | $ | 6,040 | $ | 9,579 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 5.52 | | | $ | 8.35 | | $ | 17.52 | $ | 27.03 |\n| 36 | Diluted | $ | 5.47 | | | $ | 8.25 | | $ | 17.39 | $ | 26.71 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 338.7 | | 352.8 | | 342.5 | | 353.0 | | | | |\n| 40 | Diluted | 343.9 | | 359.2 | | 347.4 | | 358.6 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:----------------------------|:------|:---------------------------|:------|:-----|:------|:------|:---|:--------|:---|:-------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | $ in millions | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Net earnings | $ | 2,058 | | | $ | 3,069 | | $ | 6,508 | $ | 9,935 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (16) | | | 26 | | | (59) | | (5) | | |\n| 7 | Debt valuation adjustment | 328 | | | 673 | | | (283) | | 2,601 | | |\n| 8 | Pension and postretirement liabilities | 9 | | | (2) | | | 33 | | 10 | | |\n| 9 | Available-for-sale securities | 317 | | | (615) | | | 720 | | (2,410) | | |\n| 10 | Other comprehensive income | 638 | | | 82 | | | 411 | | 196 | | |\n| 11 | Comprehensive income | $ | 2,696 | | | $ | 3,151 | | $ | 6,919 | $ | 10,131 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:---------------------------------------|\n| 1 | 1 | Goldman Sachs September 2023 Form 10-Q |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
in millions, except per share amounts<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,555 <\/td><\/td><\/td>$<\/td>1,544 <\/td><\/td><\/td>$<\/td>4,565 <\/td><\/td><\/td>$<\/td>5,487 <\/td><\/td><\/tr>
Investment management<\/td>2,409 <\/td><\/td><\/td>2,283 <\/td><\/td><\/td>7,054 <\/td><\/td><\/td>6,747 <\/td><\/td><\/tr>
Commissions and fees<\/td>883 <\/td><\/td><\/td>992 <\/td><\/td><\/td>2,864 <\/td><\/td><\/td>3,066 <\/td><\/td><\/tr>
Market making<\/td>4,958 <\/td><\/td><\/td>4,641 <\/td><\/td><\/td>14,742 <\/td><\/td><\/td>15,583 <\/td><\/td><\/tr>
Other principal transactions<\/td>465 <\/td><\/td><\/td>472 <\/td><\/td><\/td>699 <\/td><\/td><\/td>285 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,270 <\/td><\/td><\/td>9,932 <\/td><\/td><\/td>29,924 <\/td><\/td><\/td>31,168 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>18,257 <\/td><\/td><\/td>8,550 <\/td><\/td><\/td>50,031 <\/td><\/td><\/td>16,613 <\/td><\/td><\/tr>
Interest expense<\/td>16,710 <\/td><\/td><\/td>6,507 <\/td><\/td><\/td>45,019 <\/td><\/td><\/td>11,009 <\/td><\/td><\/tr>
Net interest income<\/td>1,547 <\/td><\/td><\/td>2,043 <\/td><\/td><\/td>5,012 <\/td><\/td><\/td>5,604 <\/td><\/td><\/tr>
Total net revenues<\/td>11,817 <\/td><\/td><\/td>11,975 <\/td><\/td><\/td>34,936 <\/td><\/td><\/td>36,772 <\/td><\/td><\/tr>
Provision for credit losses<\/td>7 <\/td><\/td><\/td>515 <\/td><\/td><\/td>451 <\/td><\/td><\/td>1,743 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,188 <\/td><\/td><\/td>3,606 <\/td><\/td><\/td>11,897 <\/td><\/td><\/td>11,384 <\/td><\/td><\/tr>
Transaction based<\/td>1,452 <\/td><\/td><\/td>1,317 <\/td><\/td><\/td>4,242 <\/td><\/td><\/td>3,878 <\/td><\/td><\/tr>
Market development<\/td>136 <\/td><\/td><\/td>199 <\/td><\/td><\/td>454 <\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Communications and technology<\/td>468 <\/td><\/td><\/td>459 <\/td><\/td><\/td>1,416 <\/td><\/td><\/td>1,327 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>1,512 <\/td><\/td><\/td>666 <\/td><\/td><\/td>4,076 <\/td><\/td><\/td>1,728 <\/td><\/td><\/tr>
Occupancy<\/td>267 <\/td><\/td><\/td>255 <\/td><\/td><\/td>785 <\/td><\/td><\/td>765 <\/td><\/td><\/tr>
Professional fees<\/td>377 <\/td><\/td><\/td>465 <\/td><\/td><\/td>1,152 <\/td><\/td><\/td>1,392 <\/td><\/td><\/tr>
Other expenses<\/td>654 <\/td><\/td><\/td>737 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>2,003 <\/td><\/td><\/tr>
Total operating expenses<\/td>9,054 <\/td><\/td><\/td>7,704 <\/td><\/td><\/td>26,000 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>2,756 <\/td><\/td><\/td>3,756 <\/td><\/td><\/td>8,485 <\/td><\/td><\/td>11,956 <\/td><\/td><\/tr>
Provision for taxes<\/td>698 <\/td><\/td><\/td>687 <\/td><\/td><\/td>1,977 <\/td><\/td><\/td>2,021 <\/td><\/td><\/tr>
Net earnings<\/td>2,058 <\/td><\/td><\/td>3,069 <\/td><\/td><\/td>6,508 <\/td><\/td><\/td>9,935 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>176 <\/td><\/td><\/td>107 <\/td><\/td><\/td>468 <\/td><\/td><\/td>356 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>1,882 <\/td><\/td><\/td>$<\/td>2,962 <\/td><\/td><\/td>$<\/td>6,040 <\/td><\/td><\/td>$<\/td>9,579 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>5.52 <\/td><\/td><\/td>$<\/td>8.35 <\/td><\/td><\/td>$<\/td>17.52 <\/td><\/td><\/td>$<\/td>27.03 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>5.47 <\/td><\/td><\/td>$<\/td>8.25 <\/td><\/td><\/td>$<\/td>17.39 <\/td><\/td><\/td>$<\/td>26.71 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>338.7<\/td><\/td>352.8<\/td><\/td>342.5<\/td><\/td>353.0<\/td><\/tr>
Diluted<\/td>343.9<\/td><\/td>359.2<\/td><\/td>347.4<\/td><\/td>358.6<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
$ in millions<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Net earnings<\/td>$<\/td>2,058 <\/td><\/td><\/td>$<\/td>3,069 <\/td><\/td><\/td>$<\/td>6,508 <\/td><\/td><\/td>$<\/td>9,935 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(16)<\/td><\/td><\/td>26 <\/td><\/td><\/td>(59)<\/td><\/td><\/td>(5)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>328 <\/td><\/td><\/td>673 <\/td><\/td><\/td>(283)<\/td><\/td><\/td>2,601 <\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>9 <\/td><\/td><\/td>(2)<\/td><\/td><\/td>33 <\/td><\/td><\/td>10 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>317 <\/td><\/td><\/td>(615)<\/td><\/td><\/td>720 <\/td><\/td><\/td>(2,410)<\/td><\/td><\/tr>
Other comprehensive income<\/td>638 <\/td><\/td><\/td>82 <\/td><\/td><\/td>411 <\/td><\/td><\/td>196 <\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>2,696 <\/td><\/td><\/td>$<\/td>3,151 <\/td><\/td><\/td>$<\/td>6,919 <\/td><\/td><\/td>$<\/td>10,131 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs September 2023 Form 10-Q<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
in millions, except per share amounts<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,555 <\/td><\/td><\/td>$<\/td>1,544 <\/td><\/td><\/td>$<\/td>4,565 <\/td><\/td><\/td>$<\/td>5,487 <\/td><\/td><\/tr>
Investment management<\/td>2,409 <\/td><\/td><\/td>2,283 <\/td><\/td><\/td>7,054 <\/td><\/td><\/td>6,747 <\/td><\/td><\/tr>
Commissions and fees<\/td>883 <\/td><\/td><\/td>992 <\/td><\/td><\/td>2,864 <\/td><\/td><\/td>3,066 <\/td><\/td><\/tr>
Market making<\/td>4,958 <\/td><\/td><\/td>4,641 <\/td><\/td><\/td>14,742 <\/td><\/td><\/td>15,583 <\/td><\/td><\/tr>
Other principal transactions<\/td>465 <\/td><\/td><\/td>472 <\/td><\/td><\/td>699 <\/td><\/td><\/td>285 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,270 <\/td><\/td><\/td>9,932 <\/td><\/td><\/td>29,924 <\/td><\/td><\/td>31,168 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>18,257 <\/td><\/td><\/td>8,550 <\/td><\/td><\/td>50,031 <\/td><\/td><\/td>16,613 <\/td><\/td><\/tr>
Interest expense<\/td>16,710 <\/td><\/td><\/td>6,507 <\/td><\/td><\/td>45,019 <\/td><\/td><\/td>11,009 <\/td><\/td><\/tr>
Net interest income<\/td>1,547 <\/td><\/td><\/td>2,043 <\/td><\/td><\/td>5,012 <\/td><\/td><\/td>5,604 <\/td><\/td><\/tr>
Total net revenues<\/td>11,817 <\/td><\/td><\/td>11,975 <\/td><\/td><\/td>34,936 <\/td><\/td><\/td>36,772 <\/td><\/td><\/tr>
Provision for credit losses<\/td>7 <\/td><\/td><\/td>515 <\/td><\/td><\/td>451 <\/td><\/td><\/td>1,743 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,188 <\/td><\/td><\/td>3,606 <\/td><\/td><\/td>11,897 <\/td><\/td><\/td>11,384 <\/td><\/td><\/tr>
Transaction based<\/td>1,452 <\/td><\/td><\/td>1,317 <\/td><\/td><\/td>4,242 <\/td><\/td><\/td>3,878 <\/td><\/td><\/tr>
Market development<\/td>136 <\/td><\/td><\/td>199 <\/td><\/td><\/td>454 <\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Communications and technology<\/td>468 <\/td><\/td><\/td>459 <\/td><\/td><\/td>1,416 <\/td><\/td><\/td>1,327 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>1,512 <\/td><\/td><\/td>666 <\/td><\/td><\/td>4,076 <\/td><\/td><\/td>1,728 <\/td><\/td><\/tr>
Occupancy<\/td>267 <\/td><\/td><\/td>255 <\/td><\/td><\/td>785 <\/td><\/td><\/td>765 <\/td><\/td><\/tr>
Professional fees<\/td>377 <\/td><\/td><\/td>465 <\/td><\/td><\/td>1,152 <\/td><\/td><\/td>1,392 <\/td><\/td><\/tr>
Other expenses<\/td>654 <\/td><\/td><\/td>737 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>2,003 <\/td><\/td><\/tr>
Total operating expenses<\/td>9,054 <\/td><\/td><\/td>7,704 <\/td><\/td><\/td>26,000 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>2,756 <\/td><\/td><\/td>3,756 <\/td><\/td><\/td>8,485 <\/td><\/td><\/td>11,956 <\/td><\/td><\/tr>
Provision for taxes<\/td>698 <\/td><\/td><\/td>687 <\/td><\/td><\/td>1,977 <\/td><\/td><\/td>2,021 <\/td><\/td><\/tr>
Net earnings<\/td>2,058 <\/td><\/td><\/td>3,069 <\/td><\/td><\/td>6,508 <\/td><\/td><\/td>9,935 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>176 <\/td><\/td><\/td>107 <\/td><\/td><\/td>468 <\/td><\/td><\/td>356 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>1,882 <\/td><\/td><\/td>$<\/td>2,962 <\/td><\/td><\/td>$<\/td>6,040 <\/td><\/td><\/td>$<\/td>9,579 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>5.52 <\/td><\/td><\/td>$<\/td>8.35 <\/td><\/td><\/td>$<\/td>17.52 <\/td><\/td><\/td>$<\/td>27.03 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>5.47 <\/td><\/td><\/td>$<\/td>8.25 <\/td><\/td><\/td>$<\/td>17.39 <\/td><\/td><\/td>$<\/td>26.71 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>338.7<\/td><\/td>352.8<\/td><\/td>342.5<\/td><\/td>353.0<\/td><\/tr>
Diluted<\/td>343.9<\/td><\/td>359.2<\/td><\/td>347.4<\/td><\/td>358.6<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
$ in millions<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Net earnings<\/td>$<\/td>2,058 <\/td><\/td><\/td>$<\/td>3,069 <\/td><\/td><\/td>$<\/td>6,508 <\/td><\/td><\/td>$<\/td>9,935 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(16)<\/td><\/td><\/td>26 <\/td><\/td><\/td>(59)<\/td><\/td><\/td>(5)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>328 <\/td><\/td><\/td>673 <\/td><\/td><\/td>(283)<\/td><\/td><\/td>2,601 <\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>9 <\/td><\/td><\/td>(2)<\/td><\/td><\/td>33 <\/td><\/td><\/td>10 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>317 <\/td><\/td><\/td>(615)<\/td><\/td><\/td>720 <\/td><\/td><\/td>(2,410)<\/td><\/td><\/tr>
Other comprehensive income<\/td>638 <\/td><\/td><\/td>82 <\/td><\/td><\/td>411 <\/td><\/td><\/td>196 <\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>2,696 <\/td><\/td><\/td>$<\/td>3,151 <\/td><\/td><\/td>$<\/td>6,919 <\/td><\/td><\/td>$<\/td>10,131 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs September 2023 Form 10-Q<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra094","Question":"How does Goldman Sachs' Earnings Per Share (EPS) for the first nine months of 2023 compare with that of 2022?","ground_truth_answer":"The Earnings Per Share (EPS) ratio for 2023 is lower compared to 2022 for the nine months ended September. In 2023, the EPS (Basic) is $17.52, and the EPS (Diluted) is $17.39, while in 2022, the EPS (Basic) was $27.03, and the EPS (Diluted) was $26.71.","question_type":"Ratio","page_number":1,"accession_number":"0000886982-23-000011","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:----------------------------|:------|:---------------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | in millions, except per share amounts | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,555 | | | $ | 1,544 | | $ | 4,565 | $ | 5,487 |\n| 6 | Investment management | 2,409 | | | 2,283 | | | 7,054 | | 6,747 | | |\n| 7 | Commissions and fees | 883 | | | 992 | | | 2,864 | | 3,066 | | |\n| 8 | Market making | 4,958 | | | 4,641 | | | 14,742 | | 15,583 | | |\n| 9 | Other principal transactions | 465 | | | 472 | | | 699 | | 285 | | |\n| 10 | Total non-interest revenues | 10,270 | | | 9,932 | | | 29,924 | | 31,168 | | |\n| 12 | Interest income | 18,257 | | | 8,550 | | | 50,031 | | 16,613 | | |\n| 13 | Interest expense | 16,710 | | | 6,507 | | | 45,019 | | 11,009 | | |\n| 14 | Net interest income | 1,547 | | | 2,043 | | | 5,012 | | 5,604 | | |\n| 15 | Total net revenues | 11,817 | | | 11,975 | | | 34,936 | | 36,772 | | |\n| 16 | Provision for credit losses | 7 | | | 515 | | | 451 | | 1,743 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,188 | | | 3,606 | | | 11,897 | | 11,384 | | |\n| 19 | Transaction based | 1,452 | | | 1,317 | | | 4,242 | | 3,878 | | |\n| 20 | Market development | 136 | | | 199 | | | 454 | | 596 | | |\n| 21 | Communications and technology | 468 | | | 459 | | | 1,416 | | 1,327 | | |\n| 22 | Depreciation and amortization | 1,512 | | | 666 | | | 4,076 | | 1,728 | | |\n| 23 | Occupancy | 267 | | | 255 | | | 785 | | 765 | | |\n| 24 | Professional fees | 377 | | | 465 | | | 1,152 | | 1,392 | | |\n| 25 | Other expenses | 654 | | | 737 | | | 1,978 | | 2,003 | | |\n| 26 | Total operating expenses | 9,054 | | | 7,704 | | | 26,000 | | 23,073 | | |\n| 28 | Pre-tax earnings | 2,756 | | | 3,756 | | | 8,485 | | 11,956 | | |\n| 29 | Provision for taxes | 698 | | | 687 | | | 1,977 | | 2,021 | | |\n| 30 | Net earnings | 2,058 | | | 3,069 | | | 6,508 | | 9,935 | | |\n| 31 | Preferred stock dividends | 176 | | | 107 | | | 468 | | 356 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 1,882 | | | $ | 2,962 | | $ | 6,040 | $ | 9,579 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 5.52 | | | $ | 8.35 | | $ | 17.52 | $ | 27.03 |\n| 36 | Diluted | $ | 5.47 | | | $ | 8.25 | | $ | 17.39 | $ | 26.71 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 338.7 | | 352.8 | | 342.5 | | 353.0 | | | | |\n| 40 | Diluted | 343.9 | | 359.2 | | 347.4 | | 358.6 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:----------------------------|:------|:---------------------------|:------|:-----|:------|:------|:---|:--------|:---|:-------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | $ in millions | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Net earnings | $ | 2,058 | | | $ | 3,069 | | $ | 6,508 | $ | 9,935 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (16) | | | 26 | | | (59) | | (5) | | |\n| 7 | Debt valuation adjustment | 328 | | | 673 | | | (283) | | 2,601 | | |\n| 8 | Pension and postretirement liabilities | 9 | | | (2) | | | 33 | | 10 | | |\n| 9 | Available-for-sale securities | 317 | | | (615) | | | 720 | | (2,410) | | |\n| 10 | Other comprehensive income | 638 | | | 82 | | | 411 | | 196 | | |\n| 11 | Comprehensive income | $ | 2,696 | | | $ | 3,151 | | $ | 6,919 | $ | 10,131 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:---------------------------------------|\n| 1 | 1 | Goldman Sachs September 2023 Form 10-Q |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:----------------------------|:------|:---------------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | in millions, except per share amounts | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,555 | | | $ | 1,544 | | $ | 4,565 | $ | 5,487 |\n| 6 | Investment management | 2,409 | | | 2,283 | | | 7,054 | | 6,747 | | |\n| 7 | Commissions and fees | 883 | | | 992 | | | 2,864 | | 3,066 | | |\n| 8 | Market making | 4,958 | | | 4,641 | | | 14,742 | | 15,583 | | |\n| 9 | Other principal transactions | 465 | | | 472 | | | 699 | | 285 | | |\n| 10 | Total non-interest revenues | 10,270 | | | 9,932 | | | 29,924 | | 31,168 | | |\n| 12 | Interest income | 18,257 | | | 8,550 | | | 50,031 | | 16,613 | | |\n| 13 | Interest expense | 16,710 | | | 6,507 | | | 45,019 | | 11,009 | | |\n| 14 | Net interest income | 1,547 | | | 2,043 | | | 5,012 | | 5,604 | | |\n| 15 | Total net revenues | 11,817 | | | 11,975 | | | 34,936 | | 36,772 | | |\n| 16 | Provision for credit losses | 7 | | | 515 | | | 451 | | 1,743 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,188 | | | 3,606 | | | 11,897 | | 11,384 | | |\n| 19 | Transaction based | 1,452 | | | 1,317 | | | 4,242 | | 3,878 | | |\n| 20 | Market development | 136 | | | 199 | | | 454 | | 596 | | |\n| 21 | Communications and technology | 468 | | | 459 | | | 1,416 | | 1,327 | | |\n| 22 | Depreciation and amortization | 1,512 | | | 666 | | | 4,076 | | 1,728 | | |\n| 23 | Occupancy | 267 | | | 255 | | | 785 | | 765 | | |\n| 24 | Professional fees | 377 | | | 465 | | | 1,152 | | 1,392 | | |\n| 25 | Other expenses | 654 | | | 737 | | | 1,978 | | 2,003 | | |\n| 26 | Total operating expenses | 9,054 | | | 7,704 | | | 26,000 | | 23,073 | | |\n| 28 | Pre-tax earnings | 2,756 | | | 3,756 | | | 8,485 | | 11,956 | | |\n| 29 | Provision for taxes | 698 | | | 687 | | | 1,977 | | 2,021 | | |\n| 30 | Net earnings | 2,058 | | | 3,069 | | | 6,508 | | 9,935 | | |\n| 31 | Preferred stock dividends | 176 | | | 107 | | | 468 | | 356 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 1,882 | | | $ | 2,962 | | $ | 6,040 | $ | 9,579 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 5.52 | | | $ | 8.35 | | $ | 17.52 | $ | 27.03 |\n| 36 | Diluted | $ | 5.47 | | | $ | 8.25 | | $ | 17.39 | $ | 26.71 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 338.7 | | 352.8 | | 342.5 | | 353.0 | | | | |\n| 40 | Diluted | 343.9 | | 359.2 | | 347.4 | | 358.6 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:----------------------------|:------|:---------------------------|:------|:-----|:------|:------|:---|:--------|:---|:-------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | $ in millions | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Net earnings | $ | 2,058 | | | $ | 3,069 | | $ | 6,508 | $ | 9,935 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (16) | | | 26 | | | (59) | | (5) | | |\n| 7 | Debt valuation adjustment | 328 | | | 673 | | | (283) | | 2,601 | | |\n| 8 | Pension and postretirement liabilities | 9 | | | (2) | | | 33 | | 10 | | |\n| 9 | Available-for-sale securities | 317 | | | (615) | | | 720 | | (2,410) | | |\n| 10 | Other comprehensive income | 638 | | | 82 | | | 411 | | 196 | | |\n| 11 | Comprehensive income | $ | 2,696 | | | $ | 3,151 | | $ | 6,919 | $ | 10,131 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:---------------------------------------|\n| 1 | 1 | Goldman Sachs September 2023 Form 10-Q |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
in millions, except per share amounts<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,555 <\/td><\/td><\/td>$<\/td>1,544 <\/td><\/td><\/td>$<\/td>4,565 <\/td><\/td><\/td>$<\/td>5,487 <\/td><\/td><\/tr>
Investment management<\/td>2,409 <\/td><\/td><\/td>2,283 <\/td><\/td><\/td>7,054 <\/td><\/td><\/td>6,747 <\/td><\/td><\/tr>
Commissions and fees<\/td>883 <\/td><\/td><\/td>992 <\/td><\/td><\/td>2,864 <\/td><\/td><\/td>3,066 <\/td><\/td><\/tr>
Market making<\/td>4,958 <\/td><\/td><\/td>4,641 <\/td><\/td><\/td>14,742 <\/td><\/td><\/td>15,583 <\/td><\/td><\/tr>
Other principal transactions<\/td>465 <\/td><\/td><\/td>472 <\/td><\/td><\/td>699 <\/td><\/td><\/td>285 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,270 <\/td><\/td><\/td>9,932 <\/td><\/td><\/td>29,924 <\/td><\/td><\/td>31,168 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>18,257 <\/td><\/td><\/td>8,550 <\/td><\/td><\/td>50,031 <\/td><\/td><\/td>16,613 <\/td><\/td><\/tr>
Interest expense<\/td>16,710 <\/td><\/td><\/td>6,507 <\/td><\/td><\/td>45,019 <\/td><\/td><\/td>11,009 <\/td><\/td><\/tr>
Net interest income<\/td>1,547 <\/td><\/td><\/td>2,043 <\/td><\/td><\/td>5,012 <\/td><\/td><\/td>5,604 <\/td><\/td><\/tr>
Total net revenues<\/td>11,817 <\/td><\/td><\/td>11,975 <\/td><\/td><\/td>34,936 <\/td><\/td><\/td>36,772 <\/td><\/td><\/tr>
Provision for credit losses<\/td>7 <\/td><\/td><\/td>515 <\/td><\/td><\/td>451 <\/td><\/td><\/td>1,743 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,188 <\/td><\/td><\/td>3,606 <\/td><\/td><\/td>11,897 <\/td><\/td><\/td>11,384 <\/td><\/td><\/tr>
Transaction based<\/td>1,452 <\/td><\/td><\/td>1,317 <\/td><\/td><\/td>4,242 <\/td><\/td><\/td>3,878 <\/td><\/td><\/tr>
Market development<\/td>136 <\/td><\/td><\/td>199 <\/td><\/td><\/td>454 <\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Communications and technology<\/td>468 <\/td><\/td><\/td>459 <\/td><\/td><\/td>1,416 <\/td><\/td><\/td>1,327 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>1,512 <\/td><\/td><\/td>666 <\/td><\/td><\/td>4,076 <\/td><\/td><\/td>1,728 <\/td><\/td><\/tr>
Occupancy<\/td>267 <\/td><\/td><\/td>255 <\/td><\/td><\/td>785 <\/td><\/td><\/td>765 <\/td><\/td><\/tr>
Professional fees<\/td>377 <\/td><\/td><\/td>465 <\/td><\/td><\/td>1,152 <\/td><\/td><\/td>1,392 <\/td><\/td><\/tr>
Other expenses<\/td>654 <\/td><\/td><\/td>737 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>2,003 <\/td><\/td><\/tr>
Total operating expenses<\/td>9,054 <\/td><\/td><\/td>7,704 <\/td><\/td><\/td>26,000 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>2,756 <\/td><\/td><\/td>3,756 <\/td><\/td><\/td>8,485 <\/td><\/td><\/td>11,956 <\/td><\/td><\/tr>
Provision for taxes<\/td>698 <\/td><\/td><\/td>687 <\/td><\/td><\/td>1,977 <\/td><\/td><\/td>2,021 <\/td><\/td><\/tr>
Net earnings<\/td>2,058 <\/td><\/td><\/td>3,069 <\/td><\/td><\/td>6,508 <\/td><\/td><\/td>9,935 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>176 <\/td><\/td><\/td>107 <\/td><\/td><\/td>468 <\/td><\/td><\/td>356 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>1,882 <\/td><\/td><\/td>$<\/td>2,962 <\/td><\/td><\/td>$<\/td>6,040 <\/td><\/td><\/td>$<\/td>9,579 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>5.52 <\/td><\/td><\/td>$<\/td>8.35 <\/td><\/td><\/td>$<\/td>17.52 <\/td><\/td><\/td>$<\/td>27.03 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>5.47 <\/td><\/td><\/td>$<\/td>8.25 <\/td><\/td><\/td>$<\/td>17.39 <\/td><\/td><\/td>$<\/td>26.71 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>338.7<\/td><\/td>352.8<\/td><\/td>342.5<\/td><\/td>353.0<\/td><\/tr>
Diluted<\/td>343.9<\/td><\/td>359.2<\/td><\/td>347.4<\/td><\/td>358.6<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
$ in millions<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Net earnings<\/td>$<\/td>2,058 <\/td><\/td><\/td>$<\/td>3,069 <\/td><\/td><\/td>$<\/td>6,508 <\/td><\/td><\/td>$<\/td>9,935 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(16)<\/td><\/td><\/td>26 <\/td><\/td><\/td>(59)<\/td><\/td><\/td>(5)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>328 <\/td><\/td><\/td>673 <\/td><\/td><\/td>(283)<\/td><\/td><\/td>2,601 <\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>9 <\/td><\/td><\/td>(2)<\/td><\/td><\/td>33 <\/td><\/td><\/td>10 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>317 <\/td><\/td><\/td>(615)<\/td><\/td><\/td>720 <\/td><\/td><\/td>(2,410)<\/td><\/td><\/tr>
Other comprehensive income<\/td>638 <\/td><\/td><\/td>82 <\/td><\/td><\/td>411 <\/td><\/td><\/td>196 <\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>2,696 <\/td><\/td><\/td>$<\/td>3,151 <\/td><\/td><\/td>$<\/td>6,919 <\/td><\/td><\/td>$<\/td>10,131 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs September 2023 Form 10-Q<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
in millions, except per share amounts<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,555 <\/td><\/td><\/td>$<\/td>1,544 <\/td><\/td><\/td>$<\/td>4,565 <\/td><\/td><\/td>$<\/td>5,487 <\/td><\/td><\/tr>
Investment management<\/td>2,409 <\/td><\/td><\/td>2,283 <\/td><\/td><\/td>7,054 <\/td><\/td><\/td>6,747 <\/td><\/td><\/tr>
Commissions and fees<\/td>883 <\/td><\/td><\/td>992 <\/td><\/td><\/td>2,864 <\/td><\/td><\/td>3,066 <\/td><\/td><\/tr>
Market making<\/td>4,958 <\/td><\/td><\/td>4,641 <\/td><\/td><\/td>14,742 <\/td><\/td><\/td>15,583 <\/td><\/td><\/tr>
Other principal transactions<\/td>465 <\/td><\/td><\/td>472 <\/td><\/td><\/td>699 <\/td><\/td><\/td>285 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,270 <\/td><\/td><\/td>9,932 <\/td><\/td><\/td>29,924 <\/td><\/td><\/td>31,168 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>18,257 <\/td><\/td><\/td>8,550 <\/td><\/td><\/td>50,031 <\/td><\/td><\/td>16,613 <\/td><\/td><\/tr>
Interest expense<\/td>16,710 <\/td><\/td><\/td>6,507 <\/td><\/td><\/td>45,019 <\/td><\/td><\/td>11,009 <\/td><\/td><\/tr>
Net interest income<\/td>1,547 <\/td><\/td><\/td>2,043 <\/td><\/td><\/td>5,012 <\/td><\/td><\/td>5,604 <\/td><\/td><\/tr>
Total net revenues<\/td>11,817 <\/td><\/td><\/td>11,975 <\/td><\/td><\/td>34,936 <\/td><\/td><\/td>36,772 <\/td><\/td><\/tr>
Provision for credit losses<\/td>7 <\/td><\/td><\/td>515 <\/td><\/td><\/td>451 <\/td><\/td><\/td>1,743 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,188 <\/td><\/td><\/td>3,606 <\/td><\/td><\/td>11,897 <\/td><\/td><\/td>11,384 <\/td><\/td><\/tr>
Transaction based<\/td>1,452 <\/td><\/td><\/td>1,317 <\/td><\/td><\/td>4,242 <\/td><\/td><\/td>3,878 <\/td><\/td><\/tr>
Market development<\/td>136 <\/td><\/td><\/td>199 <\/td><\/td><\/td>454 <\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Communications and technology<\/td>468 <\/td><\/td><\/td>459 <\/td><\/td><\/td>1,416 <\/td><\/td><\/td>1,327 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>1,512 <\/td><\/td><\/td>666 <\/td><\/td><\/td>4,076 <\/td><\/td><\/td>1,728 <\/td><\/td><\/tr>
Occupancy<\/td>267 <\/td><\/td><\/td>255 <\/td><\/td><\/td>785 <\/td><\/td><\/td>765 <\/td><\/td><\/tr>
Professional fees<\/td>377 <\/td><\/td><\/td>465 <\/td><\/td><\/td>1,152 <\/td><\/td><\/td>1,392 <\/td><\/td><\/tr>
Other expenses<\/td>654 <\/td><\/td><\/td>737 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>2,003 <\/td><\/td><\/tr>
Total operating expenses<\/td>9,054 <\/td><\/td><\/td>7,704 <\/td><\/td><\/td>26,000 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>2,756 <\/td><\/td><\/td>3,756 <\/td><\/td><\/td>8,485 <\/td><\/td><\/td>11,956 <\/td><\/td><\/tr>
Provision for taxes<\/td>698 <\/td><\/td><\/td>687 <\/td><\/td><\/td>1,977 <\/td><\/td><\/td>2,021 <\/td><\/td><\/tr>
Net earnings<\/td>2,058 <\/td><\/td><\/td>3,069 <\/td><\/td><\/td>6,508 <\/td><\/td><\/td>9,935 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>176 <\/td><\/td><\/td>107 <\/td><\/td><\/td>468 <\/td><\/td><\/td>356 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>1,882 <\/td><\/td><\/td>$<\/td>2,962 <\/td><\/td><\/td>$<\/td>6,040 <\/td><\/td><\/td>$<\/td>9,579 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>5.52 <\/td><\/td><\/td>$<\/td>8.35 <\/td><\/td><\/td>$<\/td>17.52 <\/td><\/td><\/td>$<\/td>27.03 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>5.47 <\/td><\/td><\/td>$<\/td>8.25 <\/td><\/td><\/td>$<\/td>17.39 <\/td><\/td><\/td>$<\/td>26.71 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>338.7<\/td><\/td>352.8<\/td><\/td>342.5<\/td><\/td>353.0<\/td><\/tr>
Diluted<\/td>343.9<\/td><\/td>359.2<\/td><\/td>347.4<\/td><\/td>358.6<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
$ in millions<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Net earnings<\/td>$<\/td>2,058 <\/td><\/td><\/td>$<\/td>3,069 <\/td><\/td><\/td>$<\/td>6,508 <\/td><\/td><\/td>$<\/td>9,935 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(16)<\/td><\/td><\/td>26 <\/td><\/td><\/td>(59)<\/td><\/td><\/td>(5)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>328 <\/td><\/td><\/td>673 <\/td><\/td><\/td>(283)<\/td><\/td><\/td>2,601 <\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>9 <\/td><\/td><\/td>(2)<\/td><\/td><\/td>33 <\/td><\/td><\/td>10 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>317 <\/td><\/td><\/td>(615)<\/td><\/td><\/td>720 <\/td><\/td><\/td>(2,410)<\/td><\/td><\/tr>
Other comprehensive income<\/td>638 <\/td><\/td><\/td>82 <\/td><\/td><\/td>411 <\/td><\/td><\/td>196 <\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>2,696 <\/td><\/td><\/td>$<\/td>3,151 <\/td><\/td><\/td>$<\/td>6,919 <\/td><\/td><\/td>$<\/td>10,131 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs September 2023 Form 10-Q<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra095","Question":"What was Goldman Sachs' Debt to Equity Ratio as of September 2023?","ground_truth_answer":"The Debt Equity Ratio for Goldman Sachs as of September 2023 is calculated as follows:\nDebt Equity Ratio = Total Debt \/ Shareholders' Equity\nTotal Debt (2023) = $1,459,876 million\nShareholders' Equity (2023) = $117,277 million\nDebt Equity Ratio = 1,459,876 \/ 117,277 = 12.45","question_type":"Ratio","page_number":2,"accession_number":"0000886982-23-000011","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | September | December | | | |\n| 3 | $ in millions | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 239,879 | | $ | 241,825 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value) | 190,695 | | 225,117 | | |\n| 8 | Securities borrowed (includes $36,792 and $38,578 at fair value) | 196,925 | | 189,041 | | |\n| 9 | Customer and other receivables (includes $23 and $25 at fair value) | 140,866 | | 135,448 | | |\n| 10 | Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral) | 448,060 | | 301,245 | | |\n| 11 | Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral) | 145,530 | | 130,629 | | |\n| 12 | Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value) | 178,257 | | 179,286 | | |\n| 13 | Other assets (includes $324 and $145 at fair value) | 36,941 | | 39,208 | | |\n| 14 | Total assets | $ | 1,577,153 | | $ | 1,441,799 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $28,557 and $15,746 at fair value) | $ | 402,962 | | $ | 386,665 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 225,679 | | 110,349 | | |\n| 20 | Securities loaned (includes $8,178 and $4,372 at fair value) | 54,926 | | 30,727 | | |\n| 21 | Other secured financings (includes $14,114 and $12,756 at fair value) | 14,728 | | 13,946 | | |\n| 22 | Customer and other payables | 252,342 | | 262,045 | | |\n| 23 | Trading liabilities (at fair value) | 195,123 | | 191,324 | | |\n| 24 | Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value) | 70,009 | | 60,961 | | |\n| 25 | Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value) | 224,024 | | 247,138 | | |\n| 26 | Other liabilities (includes $614 and $159 at fair value) | 20,083 | | 21,455 | | |\n| 27 | Total liabilities | 1,459,876 | | 1,324,610 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $10,703 | 11,203 | | 10,703 | | |\n| 31 | Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,117 | | 5,696 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 60,233 | | 59,050 | | |\n| 35 | Retained earnings | 142,743 | | 139,372 | | |\n| 36 | Accumulated other comprehensive loss | (2,599) | | (3,010) | | |\n| 37 | Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares | (99,429) | | (94,631) | | |\n| 38 | Total shareholders' equity | 117,277 | | 117,189 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,577,153 | | $ | 1,441,799 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:---------------------------------------|---:|\n| 1 | Goldman Sachs September 2023 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | September | December | | | |\n| 3 | $ in millions | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 239,879 | | $ | 241,825 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value) | 190,695 | | 225,117 | | |\n| 8 | Securities borrowed (includes $36,792 and $38,578 at fair value) | 196,925 | | 189,041 | | |\n| 9 | Customer and other receivables (includes $23 and $25 at fair value) | 140,866 | | 135,448 | | |\n| 10 | Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral) | 448,060 | | 301,245 | | |\n| 11 | Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral) | 145,530 | | 130,629 | | |\n| 12 | Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value) | 178,257 | | 179,286 | | |\n| 13 | Other assets (includes $324 and $145 at fair value) | 36,941 | | 39,208 | | |\n| 14 | Total assets | $ | 1,577,153 | | $ | 1,441,799 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $28,557 and $15,746 at fair value) | $ | 402,962 | | $ | 386,665 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 225,679 | | 110,349 | | |\n| 20 | Securities loaned (includes $8,178 and $4,372 at fair value) | 54,926 | | 30,727 | | |\n| 21 | Other secured financings (includes $14,114 and $12,756 at fair value) | 14,728 | | 13,946 | | |\n| 22 | Customer and other payables | 252,342 | | 262,045 | | |\n| 23 | Trading liabilities (at fair value) | 195,123 | | 191,324 | | |\n| 24 | Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value) | 70,009 | | 60,961 | | |\n| 25 | Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value) | 224,024 | | 247,138 | | |\n| 26 | Other liabilities (includes $614 and $159 at fair value) | 20,083 | | 21,455 | | |\n| 27 | Total liabilities | 1,459,876 | | 1,324,610 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $10,703 | 11,203 | | 10,703 | | |\n| 31 | Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,117 | | 5,696 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 60,233 | | 59,050 | | |\n| 35 | Retained earnings | 142,743 | | 139,372 | | |\n| 36 | Accumulated other comprehensive loss | (2,599) | | (3,010) | | |\n| 37 | Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares | (99,429) | | (94,631) | | |\n| 38 | Total shareholders' equity | 117,277 | | 117,189 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,577,153 | | $ | 1,441,799 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:---------------------------------------|---:|\n| 1 | Goldman Sachs September 2023 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>September<\/td>December<\/td><\/tr>
$ in millions<\/td>2023<\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>239,879 <\/td><\/td>$<\/td>241,825 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value)<\/td>190,695 <\/td><\/td>225,117 <\/td><\/td><\/tr>
Securities borrowed (includes $36,792 and $38,578 at fair value)<\/td>196,925 <\/td><\/td>189,041 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $25 at fair value)<\/td>140,866 <\/td><\/td>135,448 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral)<\/td>448,060 <\/td><\/td>301,245 <\/td><\/td><\/tr>
Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral)<\/td>145,530 <\/td><\/td>130,629 <\/td><\/td><\/tr>
Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value)<\/td>178,257 <\/td><\/td>179,286 <\/td><\/td><\/tr>
Other assets (includes $324 and $145 at fair value)<\/td>36,941 <\/td><\/td>39,208 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $28,557 and $15,746 at fair value)<\/td>$<\/td>402,962 <\/td><\/td>$<\/td>386,665 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>225,679 <\/td><\/td>110,349 <\/td><\/td><\/tr>
Securities loaned (includes $8,178 and $4,372 at fair value)<\/td>54,926 <\/td><\/td>30,727 <\/td><\/td><\/tr>
Other secured financings (includes $14,114 and $12,756 at fair value)<\/td>14,728 <\/td><\/td>13,946 <\/td><\/td><\/tr>
Customer and other payables<\/td>252,342 <\/td><\/td>262,045 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>195,123 <\/td><\/td>191,324 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value)<\/td>70,009 <\/td><\/td>60,961 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value)<\/td>224,024 <\/td><\/td>247,138 <\/td><\/td><\/tr>
Other liabilities (includes $614 and $159 at fair value)<\/td>20,083 <\/td><\/td>21,455 <\/td><\/td><\/tr>
Total liabilities<\/td>1,459,876 <\/td><\/td>1,324,610 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $10,703<\/td>11,203 <\/td><\/td>10,703 <\/td><\/td><\/tr>
Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,117 <\/td><\/td>5,696 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>60,233 <\/td><\/td>59,050 <\/td><\/td><\/tr>
Retained earnings<\/td>142,743 <\/td><\/td>139,372 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,599)<\/td><\/td>(3,010)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares<\/td>(99,429)<\/td><\/td>(94,631)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>117,277 <\/td><\/td>117,189 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs September 2023 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>September<\/td>December<\/td><\/tr>
$ in millions<\/td>2023<\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>239,879 <\/td><\/td>$<\/td>241,825 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value)<\/td>190,695 <\/td><\/td>225,117 <\/td><\/td><\/tr>
Securities borrowed (includes $36,792 and $38,578 at fair value)<\/td>196,925 <\/td><\/td>189,041 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $25 at fair value)<\/td>140,866 <\/td><\/td>135,448 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral)<\/td>448,060 <\/td><\/td>301,245 <\/td><\/td><\/tr>
Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral)<\/td>145,530 <\/td><\/td>130,629 <\/td><\/td><\/tr>
Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value)<\/td>178,257 <\/td><\/td>179,286 <\/td><\/td><\/tr>
Other assets (includes $324 and $145 at fair value)<\/td>36,941 <\/td><\/td>39,208 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $28,557 and $15,746 at fair value)<\/td>$<\/td>402,962 <\/td><\/td>$<\/td>386,665 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>225,679 <\/td><\/td>110,349 <\/td><\/td><\/tr>
Securities loaned (includes $8,178 and $4,372 at fair value)<\/td>54,926 <\/td><\/td>30,727 <\/td><\/td><\/tr>
Other secured financings (includes $14,114 and $12,756 at fair value)<\/td>14,728 <\/td><\/td>13,946 <\/td><\/td><\/tr>
Customer and other payables<\/td>252,342 <\/td><\/td>262,045 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>195,123 <\/td><\/td>191,324 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value)<\/td>70,009 <\/td><\/td>60,961 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value)<\/td>224,024 <\/td><\/td>247,138 <\/td><\/td><\/tr>
Other liabilities (includes $614 and $159 at fair value)<\/td>20,083 <\/td><\/td>21,455 <\/td><\/td><\/tr>
Total liabilities<\/td>1,459,876 <\/td><\/td>1,324,610 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $10,703<\/td>11,203 <\/td><\/td>10,703 <\/td><\/td><\/tr>
Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,117 <\/td><\/td>5,696 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>60,233 <\/td><\/td>59,050 <\/td><\/td><\/tr>
Retained earnings<\/td>142,743 <\/td><\/td>139,372 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,599)<\/td><\/td>(3,010)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares<\/td>(99,429)<\/td><\/td>(94,631)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>117,277 <\/td><\/td>117,189 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs September 2023 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra096","Question":"Could you detail the Interest Coverage Ratio for Goldman Sachs for the nine months ending September 2023?","ground_truth_answer":"The Interest Coverage Ratio for Goldman Sachs for the nine months ended September 2023 is calculated as follows:\nInterest Coverage Ratio = EBIT \/ Interest Expenses\nEBIT (2023) = $8,485 million\nInterest Expenses (2023) = $45,019 million\nInterest Coverage Ratio = 8,485 \/ 45,019 = 0.19","question_type":"Ratio","page_number":1,"accession_number":"0000886982-23-000011","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:----------------------------|:------|:---------------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | in millions, except per share amounts | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,555 | | | $ | 1,544 | | $ | 4,565 | $ | 5,487 |\n| 6 | Investment management | 2,409 | | | 2,283 | | | 7,054 | | 6,747 | | |\n| 7 | Commissions and fees | 883 | | | 992 | | | 2,864 | | 3,066 | | |\n| 8 | Market making | 4,958 | | | 4,641 | | | 14,742 | | 15,583 | | |\n| 9 | Other principal transactions | 465 | | | 472 | | | 699 | | 285 | | |\n| 10 | Total non-interest revenues | 10,270 | | | 9,932 | | | 29,924 | | 31,168 | | |\n| 12 | Interest income | 18,257 | | | 8,550 | | | 50,031 | | 16,613 | | |\n| 13 | Interest expense | 16,710 | | | 6,507 | | | 45,019 | | 11,009 | | |\n| 14 | Net interest income | 1,547 | | | 2,043 | | | 5,012 | | 5,604 | | |\n| 15 | Total net revenues | 11,817 | | | 11,975 | | | 34,936 | | 36,772 | | |\n| 16 | Provision for credit losses | 7 | | | 515 | | | 451 | | 1,743 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,188 | | | 3,606 | | | 11,897 | | 11,384 | | |\n| 19 | Transaction based | 1,452 | | | 1,317 | | | 4,242 | | 3,878 | | |\n| 20 | Market development | 136 | | | 199 | | | 454 | | 596 | | |\n| 21 | Communications and technology | 468 | | | 459 | | | 1,416 | | 1,327 | | |\n| 22 | Depreciation and amortization | 1,512 | | | 666 | | | 4,076 | | 1,728 | | |\n| 23 | Occupancy | 267 | | | 255 | | | 785 | | 765 | | |\n| 24 | Professional fees | 377 | | | 465 | | | 1,152 | | 1,392 | | |\n| 25 | Other expenses | 654 | | | 737 | | | 1,978 | | 2,003 | | |\n| 26 | Total operating expenses | 9,054 | | | 7,704 | | | 26,000 | | 23,073 | | |\n| 28 | Pre-tax earnings | 2,756 | | | 3,756 | | | 8,485 | | 11,956 | | |\n| 29 | Provision for taxes | 698 | | | 687 | | | 1,977 | | 2,021 | | |\n| 30 | Net earnings | 2,058 | | | 3,069 | | | 6,508 | | 9,935 | | |\n| 31 | Preferred stock dividends | 176 | | | 107 | | | 468 | | 356 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 1,882 | | | $ | 2,962 | | $ | 6,040 | $ | 9,579 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 5.52 | | | $ | 8.35 | | $ | 17.52 | $ | 27.03 |\n| 36 | Diluted | $ | 5.47 | | | $ | 8.25 | | $ | 17.39 | $ | 26.71 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 338.7 | | 352.8 | | 342.5 | | 353.0 | | | | |\n| 40 | Diluted | 343.9 | | 359.2 | | 347.4 | | 358.6 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:----------------------------|:------|:---------------------------|:------|:-----|:------|:------|:---|:--------|:---|:-------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | $ in millions | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Net earnings | $ | 2,058 | | | $ | 3,069 | | $ | 6,508 | $ | 9,935 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (16) | | | 26 | | | (59) | | (5) | | |\n| 7 | Debt valuation adjustment | 328 | | | 673 | | | (283) | | 2,601 | | |\n| 8 | Pension and postretirement liabilities | 9 | | | (2) | | | 33 | | 10 | | |\n| 9 | Available-for-sale securities | 317 | | | (615) | | | 720 | | (2,410) | | |\n| 10 | Other comprehensive income | 638 | | | 82 | | | 411 | | 196 | | |\n| 11 | Comprehensive income | $ | 2,696 | | | $ | 3,151 | | $ | 6,919 | $ | 10,131 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:---------------------------------------|\n| 1 | 1 | Goldman Sachs September 2023 Form 10-Q |\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------|:----------------------------|:------|:---------------------------|:-------|:------|:------|:-------|:---|:-------|:---|:------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | in millions, except per share amounts | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Revenues | | | | | | | | | | | |\n| 5 | Investment banking | $ | 1,555 | | | $ | 1,544 | | $ | 4,565 | $ | 5,487 |\n| 6 | Investment management | 2,409 | | | 2,283 | | | 7,054 | | 6,747 | | |\n| 7 | Commissions and fees | 883 | | | 992 | | | 2,864 | | 3,066 | | |\n| 8 | Market making | 4,958 | | | 4,641 | | | 14,742 | | 15,583 | | |\n| 9 | Other principal transactions | 465 | | | 472 | | | 699 | | 285 | | |\n| 10 | Total non-interest revenues | 10,270 | | | 9,932 | | | 29,924 | | 31,168 | | |\n| 12 | Interest income | 18,257 | | | 8,550 | | | 50,031 | | 16,613 | | |\n| 13 | Interest expense | 16,710 | | | 6,507 | | | 45,019 | | 11,009 | | |\n| 14 | Net interest income | 1,547 | | | 2,043 | | | 5,012 | | 5,604 | | |\n| 15 | Total net revenues | 11,817 | | | 11,975 | | | 34,936 | | 36,772 | | |\n| 16 | Provision for credit losses | 7 | | | 515 | | | 451 | | 1,743 | | |\n| 17 | Operating expenses | | | | | | | | | | | |\n| 18 | Compensation and benefits | 4,188 | | | 3,606 | | | 11,897 | | 11,384 | | |\n| 19 | Transaction based | 1,452 | | | 1,317 | | | 4,242 | | 3,878 | | |\n| 20 | Market development | 136 | | | 199 | | | 454 | | 596 | | |\n| 21 | Communications and technology | 468 | | | 459 | | | 1,416 | | 1,327 | | |\n| 22 | Depreciation and amortization | 1,512 | | | 666 | | | 4,076 | | 1,728 | | |\n| 23 | Occupancy | 267 | | | 255 | | | 785 | | 765 | | |\n| 24 | Professional fees | 377 | | | 465 | | | 1,152 | | 1,392 | | |\n| 25 | Other expenses | 654 | | | 737 | | | 1,978 | | 2,003 | | |\n| 26 | Total operating expenses | 9,054 | | | 7,704 | | | 26,000 | | 23,073 | | |\n| 28 | Pre-tax earnings | 2,756 | | | 3,756 | | | 8,485 | | 11,956 | | |\n| 29 | Provision for taxes | 698 | | | 687 | | | 1,977 | | 2,021 | | |\n| 30 | Net earnings | 2,058 | | | 3,069 | | | 6,508 | | 9,935 | | |\n| 31 | Preferred stock dividends | 176 | | | 107 | | | 468 | | 356 | | |\n| 32 | Net earnings applicable to common shareholders | $ | 1,882 | | | $ | 2,962 | | $ | 6,040 | $ | 9,579 |\n| 34 | Earnings per common share | | | | | | | | | | | |\n| 35 | Basic | $ | 5.52 | | | $ | 8.35 | | $ | 17.52 | $ | 27.03 |\n| 36 | Diluted | $ | 5.47 | | | $ | 8.25 | | $ | 17.39 | $ | 26.71 |\n| 38 | Average common shares | | | | | | | | | | | |\n| 39 | Basic | 338.7 | | 352.8 | | 342.5 | | 353.0 | | | | |\n| 40 | Diluted | 343.9 | | 359.2 | | 347.4 | | 358.6 | | | | |\n\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------|:----------------------------|:------|:---------------------------|:------|:-----|:------|:------|:---|:--------|:---|:-------|\n| 2 | | Three MonthsEnded September | | Nine MonthsEnded September | | | | | | | | |\n| 3 | $ in millions | 2023 | | 2022 | | 2023 | | 2022 | | | | |\n| 4 | Net earnings | $ | 2,058 | | | $ | 3,069 | | $ | 6,508 | $ | 9,935 |\n| 5 | Other comprehensive income\/(loss) adjustments, net of tax: | | | | | | | | | | | |\n| 6 | Currency translation | (16) | | | 26 | | | (59) | | (5) | | |\n| 7 | Debt valuation adjustment | 328 | | | 673 | | | (283) | | 2,601 | | |\n| 8 | Pension and postretirement liabilities | 9 | | | (2) | | | 33 | | 10 | | |\n| 9 | Available-for-sale securities | 317 | | | (615) | | | 720 | | (2,410) | | |\n| 10 | Other comprehensive income | 638 | | | 82 | | | 411 | | 196 | | |\n| 11 | Comprehensive income | $ | 2,696 | | | $ | 3,151 | | $ | 6,919 | $ | 10,131 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n| | | |\n|---:|---:|:---------------------------------------|\n| 1 | 1 | Goldman Sachs September 2023 Form 10-Q |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 1: \nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
in millions, except per share amounts<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,555 <\/td><\/td><\/td>$<\/td>1,544 <\/td><\/td><\/td>$<\/td>4,565 <\/td><\/td><\/td>$<\/td>5,487 <\/td><\/td><\/tr>
Investment management<\/td>2,409 <\/td><\/td><\/td>2,283 <\/td><\/td><\/td>7,054 <\/td><\/td><\/td>6,747 <\/td><\/td><\/tr>
Commissions and fees<\/td>883 <\/td><\/td><\/td>992 <\/td><\/td><\/td>2,864 <\/td><\/td><\/td>3,066 <\/td><\/td><\/tr>
Market making<\/td>4,958 <\/td><\/td><\/td>4,641 <\/td><\/td><\/td>14,742 <\/td><\/td><\/td>15,583 <\/td><\/td><\/tr>
Other principal transactions<\/td>465 <\/td><\/td><\/td>472 <\/td><\/td><\/td>699 <\/td><\/td><\/td>285 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,270 <\/td><\/td><\/td>9,932 <\/td><\/td><\/td>29,924 <\/td><\/td><\/td>31,168 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>18,257 <\/td><\/td><\/td>8,550 <\/td><\/td><\/td>50,031 <\/td><\/td><\/td>16,613 <\/td><\/td><\/tr>
Interest expense<\/td>16,710 <\/td><\/td><\/td>6,507 <\/td><\/td><\/td>45,019 <\/td><\/td><\/td>11,009 <\/td><\/td><\/tr>
Net interest income<\/td>1,547 <\/td><\/td><\/td>2,043 <\/td><\/td><\/td>5,012 <\/td><\/td><\/td>5,604 <\/td><\/td><\/tr>
Total net revenues<\/td>11,817 <\/td><\/td><\/td>11,975 <\/td><\/td><\/td>34,936 <\/td><\/td><\/td>36,772 <\/td><\/td><\/tr>
Provision for credit losses<\/td>7 <\/td><\/td><\/td>515 <\/td><\/td><\/td>451 <\/td><\/td><\/td>1,743 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,188 <\/td><\/td><\/td>3,606 <\/td><\/td><\/td>11,897 <\/td><\/td><\/td>11,384 <\/td><\/td><\/tr>
Transaction based<\/td>1,452 <\/td><\/td><\/td>1,317 <\/td><\/td><\/td>4,242 <\/td><\/td><\/td>3,878 <\/td><\/td><\/tr>
Market development<\/td>136 <\/td><\/td><\/td>199 <\/td><\/td><\/td>454 <\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Communications and technology<\/td>468 <\/td><\/td><\/td>459 <\/td><\/td><\/td>1,416 <\/td><\/td><\/td>1,327 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>1,512 <\/td><\/td><\/td>666 <\/td><\/td><\/td>4,076 <\/td><\/td><\/td>1,728 <\/td><\/td><\/tr>
Occupancy<\/td>267 <\/td><\/td><\/td>255 <\/td><\/td><\/td>785 <\/td><\/td><\/td>765 <\/td><\/td><\/tr>
Professional fees<\/td>377 <\/td><\/td><\/td>465 <\/td><\/td><\/td>1,152 <\/td><\/td><\/td>1,392 <\/td><\/td><\/tr>
Other expenses<\/td>654 <\/td><\/td><\/td>737 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>2,003 <\/td><\/td><\/tr>
Total operating expenses<\/td>9,054 <\/td><\/td><\/td>7,704 <\/td><\/td><\/td>26,000 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>2,756 <\/td><\/td><\/td>3,756 <\/td><\/td><\/td>8,485 <\/td><\/td><\/td>11,956 <\/td><\/td><\/tr>
Provision for taxes<\/td>698 <\/td><\/td><\/td>687 <\/td><\/td><\/td>1,977 <\/td><\/td><\/td>2,021 <\/td><\/td><\/tr>
Net earnings<\/td>2,058 <\/td><\/td><\/td>3,069 <\/td><\/td><\/td>6,508 <\/td><\/td><\/td>9,935 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>176 <\/td><\/td><\/td>107 <\/td><\/td><\/td>468 <\/td><\/td><\/td>356 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>1,882 <\/td><\/td><\/td>$<\/td>2,962 <\/td><\/td><\/td>$<\/td>6,040 <\/td><\/td><\/td>$<\/td>9,579 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>5.52 <\/td><\/td><\/td>$<\/td>8.35 <\/td><\/td><\/td>$<\/td>17.52 <\/td><\/td><\/td>$<\/td>27.03 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>5.47 <\/td><\/td><\/td>$<\/td>8.25 <\/td><\/td><\/td>$<\/td>17.39 <\/td><\/td><\/td>$<\/td>26.71 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>338.7<\/td><\/td>352.8<\/td><\/td>342.5<\/td><\/td>353.0<\/td><\/tr>
Diluted<\/td>343.9<\/td><\/td>359.2<\/td><\/td>347.4<\/td><\/td>358.6<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
$ in millions<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Net earnings<\/td>$<\/td>2,058 <\/td><\/td><\/td>$<\/td>3,069 <\/td><\/td><\/td>$<\/td>6,508 <\/td><\/td><\/td>$<\/td>9,935 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(16)<\/td><\/td><\/td>26 <\/td><\/td><\/td>(59)<\/td><\/td><\/td>(5)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>328 <\/td><\/td><\/td>673 <\/td><\/td><\/td>(283)<\/td><\/td><\/td>2,601 <\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>9 <\/td><\/td><\/td>(2)<\/td><\/td><\/td>33 <\/td><\/td><\/td>10 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>317 <\/td><\/td><\/td>(615)<\/td><\/td><\/td>720 <\/td><\/td><\/td>(2,410)<\/td><\/td><\/tr>
Other comprehensive income<\/td>638 <\/td><\/td><\/td>82 <\/td><\/td><\/td>411 <\/td><\/td><\/td>196 <\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>2,696 <\/td><\/td><\/td>$<\/td>3,151 <\/td><\/td><\/td>$<\/td>6,919 <\/td><\/td><\/td>$<\/td>10,131 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs September 2023 Form 10-Q<\/td><\/tr><\/table>\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION \n\n\nItem 1. Financial Statements (Unaudited) \n\n\n\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Statements of Earnings\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
in millions, except per share amounts<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Revenues<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking<\/td>$<\/td>1,555 <\/td><\/td><\/td>$<\/td>1,544 <\/td><\/td><\/td>$<\/td>4,565 <\/td><\/td><\/td>$<\/td>5,487 <\/td><\/td><\/tr>
Investment management<\/td>2,409 <\/td><\/td><\/td>2,283 <\/td><\/td><\/td>7,054 <\/td><\/td><\/td>6,747 <\/td><\/td><\/tr>
Commissions and fees<\/td>883 <\/td><\/td><\/td>992 <\/td><\/td><\/td>2,864 <\/td><\/td><\/td>3,066 <\/td><\/td><\/tr>
Market making<\/td>4,958 <\/td><\/td><\/td>4,641 <\/td><\/td><\/td>14,742 <\/td><\/td><\/td>15,583 <\/td><\/td><\/tr>
Other principal transactions<\/td>465 <\/td><\/td><\/td>472 <\/td><\/td><\/td>699 <\/td><\/td><\/td>285 <\/td><\/td><\/tr>
Total non-interest revenues<\/td>10,270 <\/td><\/td><\/td>9,932 <\/td><\/td><\/td>29,924 <\/td><\/td><\/td>31,168 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>18,257 <\/td><\/td><\/td>8,550 <\/td><\/td><\/td>50,031 <\/td><\/td><\/td>16,613 <\/td><\/td><\/tr>
Interest expense<\/td>16,710 <\/td><\/td><\/td>6,507 <\/td><\/td><\/td>45,019 <\/td><\/td><\/td>11,009 <\/td><\/td><\/tr>
Net interest income<\/td>1,547 <\/td><\/td><\/td>2,043 <\/td><\/td><\/td>5,012 <\/td><\/td><\/td>5,604 <\/td><\/td><\/tr>
Total net revenues<\/td>11,817 <\/td><\/td><\/td>11,975 <\/td><\/td><\/td>34,936 <\/td><\/td><\/td>36,772 <\/td><\/td><\/tr>
Provision for credit losses<\/td>7 <\/td><\/td><\/td>515 <\/td><\/td><\/td>451 <\/td><\/td><\/td>1,743 <\/td><\/td><\/tr>
Operating expenses<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation and benefits<\/td>4,188 <\/td><\/td><\/td>3,606 <\/td><\/td><\/td>11,897 <\/td><\/td><\/td>11,384 <\/td><\/td><\/tr>
Transaction based<\/td>1,452 <\/td><\/td><\/td>1,317 <\/td><\/td><\/td>4,242 <\/td><\/td><\/td>3,878 <\/td><\/td><\/tr>
Market development<\/td>136 <\/td><\/td><\/td>199 <\/td><\/td><\/td>454 <\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Communications and technology<\/td>468 <\/td><\/td><\/td>459 <\/td><\/td><\/td>1,416 <\/td><\/td><\/td>1,327 <\/td><\/td><\/tr>
Depreciation and amortization<\/td>1,512 <\/td><\/td><\/td>666 <\/td><\/td><\/td>4,076 <\/td><\/td><\/td>1,728 <\/td><\/td><\/tr>
Occupancy<\/td>267 <\/td><\/td><\/td>255 <\/td><\/td><\/td>785 <\/td><\/td><\/td>765 <\/td><\/td><\/tr>
Professional fees<\/td>377 <\/td><\/td><\/td>465 <\/td><\/td><\/td>1,152 <\/td><\/td><\/td>1,392 <\/td><\/td><\/tr>
Other expenses<\/td>654 <\/td><\/td><\/td>737 <\/td><\/td><\/td>1,978 <\/td><\/td><\/td>2,003 <\/td><\/td><\/tr>
Total operating expenses<\/td>9,054 <\/td><\/td><\/td>7,704 <\/td><\/td><\/td>26,000 <\/td><\/td><\/td>23,073 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Pre-tax earnings<\/td>2,756 <\/td><\/td><\/td>3,756 <\/td><\/td><\/td>8,485 <\/td><\/td><\/td>11,956 <\/td><\/td><\/tr>
Provision for taxes<\/td>698 <\/td><\/td><\/td>687 <\/td><\/td><\/td>1,977 <\/td><\/td><\/td>2,021 <\/td><\/td><\/tr>
Net earnings<\/td>2,058 <\/td><\/td><\/td>3,069 <\/td><\/td><\/td>6,508 <\/td><\/td><\/td>9,935 <\/td><\/td><\/tr>
Preferred stock dividends<\/td>176 <\/td><\/td><\/td>107 <\/td><\/td><\/td>468 <\/td><\/td><\/td>356 <\/td><\/td><\/tr>
Net earnings applicable to common shareholders<\/td>$<\/td>1,882 <\/td><\/td><\/td>$<\/td>2,962 <\/td><\/td><\/td>$<\/td>6,040 <\/td><\/td><\/td>$<\/td>9,579 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per common share<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>5.52 <\/td><\/td><\/td>$<\/td>8.35 <\/td><\/td><\/td>$<\/td>17.52 <\/td><\/td><\/td>$<\/td>27.03 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>5.47 <\/td><\/td><\/td>$<\/td>8.25 <\/td><\/td><\/td>$<\/td>17.39 <\/td><\/td><\/td>$<\/td>26.71 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Average common shares<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>338.7<\/td><\/td>352.8<\/td><\/td>342.5<\/td><\/td>353.0<\/td><\/tr>
Diluted<\/td>343.9<\/td><\/td>359.2<\/td><\/td>347.4<\/td><\/td>358.6<\/td><\/tr><\/table>\nConsolidated Statements of Comprehensive Income \n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td>Three MonthsEnded September<\/td><\/td>Nine MonthsEnded September<\/td><\/tr>
$ in millions<\/td>2023<\/td><\/td>2022<\/td><\/td>2023<\/td><\/td>2022<\/td><\/tr>
Net earnings<\/td>$<\/td>2,058 <\/td><\/td><\/td>$<\/td>3,069 <\/td><\/td><\/td>$<\/td>6,508 <\/td><\/td><\/td>$<\/td>9,935 <\/td><\/td><\/tr>
Other comprehensive income\/(loss) adjustments, net of tax:<\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/tr>
Currency translation<\/td>(16)<\/td><\/td><\/td>26 <\/td><\/td><\/td>(59)<\/td><\/td><\/td>(5)<\/td><\/td><\/tr>
Debt valuation adjustment<\/td>328 <\/td><\/td><\/td>673 <\/td><\/td><\/td>(283)<\/td><\/td><\/td>2,601 <\/td><\/td><\/tr>
Pension and postretirement liabilities<\/td>9 <\/td><\/td><\/td>(2)<\/td><\/td><\/td>33 <\/td><\/td><\/td>10 <\/td><\/td><\/tr>
Available-for-sale securities<\/td>317 <\/td><\/td><\/td>(615)<\/td><\/td><\/td>720 <\/td><\/td><\/td>(2,410)<\/td><\/td><\/tr>
Other comprehensive income<\/td>638 <\/td><\/td><\/td>82 <\/td><\/td><\/td>411 <\/td><\/td><\/td>196 <\/td><\/td><\/tr>
Comprehensive income<\/td>$<\/td>2,696 <\/td><\/td><\/td>$<\/td>3,151 <\/td><\/td><\/td>$<\/td>6,919 <\/td><\/td><\/td>$<\/td>10,131 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
1<\/td><\/td>Goldman Sachs September 2023 Form 10-Q<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra097","Question":"As of September 2023, what was Goldman Sachs\u2019 Financial Leverage Ratio?","ground_truth_answer":"The Financial Leverage Ratio for Goldman Sachs as of September 2023 is calculated as follows:\nFinancial Leverage Ratio = Total Assets \/ Shareholders' Equity\nTotal Assets (2023) = $1,577,153 million\nShareholders' Equity (2023) = $117,277 million\nFinancial Leverage Ratio = 1,577,153 \/ 117,277 = 13.45","question_type":"Ratio","page_number":2,"accession_number":"0000886982-23-000011","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | September | December | | | |\n| 3 | $ in millions | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 239,879 | | $ | 241,825 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value) | 190,695 | | 225,117 | | |\n| 8 | Securities borrowed (includes $36,792 and $38,578 at fair value) | 196,925 | | 189,041 | | |\n| 9 | Customer and other receivables (includes $23 and $25 at fair value) | 140,866 | | 135,448 | | |\n| 10 | Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral) | 448,060 | | 301,245 | | |\n| 11 | Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral) | 145,530 | | 130,629 | | |\n| 12 | Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value) | 178,257 | | 179,286 | | |\n| 13 | Other assets (includes $324 and $145 at fair value) | 36,941 | | 39,208 | | |\n| 14 | Total assets | $ | 1,577,153 | | $ | 1,441,799 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $28,557 and $15,746 at fair value) | $ | 402,962 | | $ | 386,665 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 225,679 | | 110,349 | | |\n| 20 | Securities loaned (includes $8,178 and $4,372 at fair value) | 54,926 | | 30,727 | | |\n| 21 | Other secured financings (includes $14,114 and $12,756 at fair value) | 14,728 | | 13,946 | | |\n| 22 | Customer and other payables | 252,342 | | 262,045 | | |\n| 23 | Trading liabilities (at fair value) | 195,123 | | 191,324 | | |\n| 24 | Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value) | 70,009 | | 60,961 | | |\n| 25 | Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value) | 224,024 | | 247,138 | | |\n| 26 | Other liabilities (includes $614 and $159 at fair value) | 20,083 | | 21,455 | | |\n| 27 | Total liabilities | 1,459,876 | | 1,324,610 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $10,703 | 11,203 | | 10,703 | | |\n| 31 | Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,117 | | 5,696 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 60,233 | | 59,050 | | |\n| 35 | Retained earnings | 142,743 | | 139,372 | | |\n| 36 | Accumulated other comprehensive loss | (2,599) | | (3,010) | | |\n| 37 | Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares | (99,429) | | (94,631) | | |\n| 38 | Total shareholders' equity | 117,277 | | 117,189 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,577,153 | | $ | 1,441,799 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:---------------------------------------|---:|\n| 1 | Goldman Sachs September 2023 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | September | December | | | |\n| 3 | $ in millions | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 239,879 | | $ | 241,825 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value) | 190,695 | | 225,117 | | |\n| 8 | Securities borrowed (includes $36,792 and $38,578 at fair value) | 196,925 | | 189,041 | | |\n| 9 | Customer and other receivables (includes $23 and $25 at fair value) | 140,866 | | 135,448 | | |\n| 10 | Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral) | 448,060 | | 301,245 | | |\n| 11 | Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral) | 145,530 | | 130,629 | | |\n| 12 | Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value) | 178,257 | | 179,286 | | |\n| 13 | Other assets (includes $324 and $145 at fair value) | 36,941 | | 39,208 | | |\n| 14 | Total assets | $ | 1,577,153 | | $ | 1,441,799 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $28,557 and $15,746 at fair value) | $ | 402,962 | | $ | 386,665 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 225,679 | | 110,349 | | |\n| 20 | Securities loaned (includes $8,178 and $4,372 at fair value) | 54,926 | | 30,727 | | |\n| 21 | Other secured financings (includes $14,114 and $12,756 at fair value) | 14,728 | | 13,946 | | |\n| 22 | Customer and other payables | 252,342 | | 262,045 | | |\n| 23 | Trading liabilities (at fair value) | 195,123 | | 191,324 | | |\n| 24 | Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value) | 70,009 | | 60,961 | | |\n| 25 | Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value) | 224,024 | | 247,138 | | |\n| 26 | Other liabilities (includes $614 and $159 at fair value) | 20,083 | | 21,455 | | |\n| 27 | Total liabilities | 1,459,876 | | 1,324,610 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $10,703 | 11,203 | | 10,703 | | |\n| 31 | Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,117 | | 5,696 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 60,233 | | 59,050 | | |\n| 35 | Retained earnings | 142,743 | | 139,372 | | |\n| 36 | Accumulated other comprehensive loss | (2,599) | | (3,010) | | |\n| 37 | Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares | (99,429) | | (94,631) | | |\n| 38 | Total shareholders' equity | 117,277 | | 117,189 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,577,153 | | $ | 1,441,799 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:---------------------------------------|---:|\n| 1 | Goldman Sachs September 2023 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>September<\/td>December<\/td><\/tr>
$ in millions<\/td>2023<\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>239,879 <\/td><\/td>$<\/td>241,825 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value)<\/td>190,695 <\/td><\/td>225,117 <\/td><\/td><\/tr>
Securities borrowed (includes $36,792 and $38,578 at fair value)<\/td>196,925 <\/td><\/td>189,041 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $25 at fair value)<\/td>140,866 <\/td><\/td>135,448 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral)<\/td>448,060 <\/td><\/td>301,245 <\/td><\/td><\/tr>
Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral)<\/td>145,530 <\/td><\/td>130,629 <\/td><\/td><\/tr>
Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value)<\/td>178,257 <\/td><\/td>179,286 <\/td><\/td><\/tr>
Other assets (includes $324 and $145 at fair value)<\/td>36,941 <\/td><\/td>39,208 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $28,557 and $15,746 at fair value)<\/td>$<\/td>402,962 <\/td><\/td>$<\/td>386,665 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>225,679 <\/td><\/td>110,349 <\/td><\/td><\/tr>
Securities loaned (includes $8,178 and $4,372 at fair value)<\/td>54,926 <\/td><\/td>30,727 <\/td><\/td><\/tr>
Other secured financings (includes $14,114 and $12,756 at fair value)<\/td>14,728 <\/td><\/td>13,946 <\/td><\/td><\/tr>
Customer and other payables<\/td>252,342 <\/td><\/td>262,045 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>195,123 <\/td><\/td>191,324 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value)<\/td>70,009 <\/td><\/td>60,961 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value)<\/td>224,024 <\/td><\/td>247,138 <\/td><\/td><\/tr>
Other liabilities (includes $614 and $159 at fair value)<\/td>20,083 <\/td><\/td>21,455 <\/td><\/td><\/tr>
Total liabilities<\/td>1,459,876 <\/td><\/td>1,324,610 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $10,703<\/td>11,203 <\/td><\/td>10,703 <\/td><\/td><\/tr>
Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,117 <\/td><\/td>5,696 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>60,233 <\/td><\/td>59,050 <\/td><\/td><\/tr>
Retained earnings<\/td>142,743 <\/td><\/td>139,372 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,599)<\/td><\/td>(3,010)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares<\/td>(99,429)<\/td><\/td>(94,631)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>117,277 <\/td><\/td>117,189 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs September 2023 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>September<\/td>December<\/td><\/tr>
$ in millions<\/td>2023<\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>239,879 <\/td><\/td>$<\/td>241,825 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value)<\/td>190,695 <\/td><\/td>225,117 <\/td><\/td><\/tr>
Securities borrowed (includes $36,792 and $38,578 at fair value)<\/td>196,925 <\/td><\/td>189,041 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $25 at fair value)<\/td>140,866 <\/td><\/td>135,448 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral)<\/td>448,060 <\/td><\/td>301,245 <\/td><\/td><\/tr>
Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral)<\/td>145,530 <\/td><\/td>130,629 <\/td><\/td><\/tr>
Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value)<\/td>178,257 <\/td><\/td>179,286 <\/td><\/td><\/tr>
Other assets (includes $324 and $145 at fair value)<\/td>36,941 <\/td><\/td>39,208 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $28,557 and $15,746 at fair value)<\/td>$<\/td>402,962 <\/td><\/td>$<\/td>386,665 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>225,679 <\/td><\/td>110,349 <\/td><\/td><\/tr>
Securities loaned (includes $8,178 and $4,372 at fair value)<\/td>54,926 <\/td><\/td>30,727 <\/td><\/td><\/tr>
Other secured financings (includes $14,114 and $12,756 at fair value)<\/td>14,728 <\/td><\/td>13,946 <\/td><\/td><\/tr>
Customer and other payables<\/td>252,342 <\/td><\/td>262,045 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>195,123 <\/td><\/td>191,324 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value)<\/td>70,009 <\/td><\/td>60,961 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value)<\/td>224,024 <\/td><\/td>247,138 <\/td><\/td><\/tr>
Other liabilities (includes $614 and $159 at fair value)<\/td>20,083 <\/td><\/td>21,455 <\/td><\/td><\/tr>
Total liabilities<\/td>1,459,876 <\/td><\/td>1,324,610 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $10,703<\/td>11,203 <\/td><\/td>10,703 <\/td><\/td><\/tr>
Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,117 <\/td><\/td>5,696 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>60,233 <\/td><\/td>59,050 <\/td><\/td><\/tr>
Retained earnings<\/td>142,743 <\/td><\/td>139,372 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,599)<\/td><\/td>(3,010)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares<\/td>(99,429)<\/td><\/td>(94,631)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>117,277 <\/td><\/td>117,189 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs September 2023 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra098","Question":"For Goldman Sachs, what was the Long-term Debt to Capitalization Ratio as of September 2023?","ground_truth_answer":"The Long-term Debt to Capitalization Ratio for Goldman Sachs as of September 2023 is calculated as follows:\nLong-term Debt to Capitalization Ratio = Long-term Debt \/ (Long-term Debt + Shareholders' Equity)\nLong-term Debt (2023) = $224,024 million\nShareholders' Equity (2023) = $117,277 million\nLong-term Debt to Capitalization Ratio = 224,024 \/ (224,024 + 117,277) = 0.66","question_type":"Ratio","page_number":2,"accession_number":"0000886982-23-000011","item":"Item 1. Financial Statements (Unaudited)","context_markdown_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | September | December | | | |\n| 3 | $ in millions | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 239,879 | | $ | 241,825 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value) | 190,695 | | 225,117 | | |\n| 8 | Securities borrowed (includes $36,792 and $38,578 at fair value) | 196,925 | | 189,041 | | |\n| 9 | Customer and other receivables (includes $23 and $25 at fair value) | 140,866 | | 135,448 | | |\n| 10 | Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral) | 448,060 | | 301,245 | | |\n| 11 | Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral) | 145,530 | | 130,629 | | |\n| 12 | Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value) | 178,257 | | 179,286 | | |\n| 13 | Other assets (includes $324 and $145 at fair value) | 36,941 | | 39,208 | | |\n| 14 | Total assets | $ | 1,577,153 | | $ | 1,441,799 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $28,557 and $15,746 at fair value) | $ | 402,962 | | $ | 386,665 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 225,679 | | 110,349 | | |\n| 20 | Securities loaned (includes $8,178 and $4,372 at fair value) | 54,926 | | 30,727 | | |\n| 21 | Other secured financings (includes $14,114 and $12,756 at fair value) | 14,728 | | 13,946 | | |\n| 22 | Customer and other payables | 252,342 | | 262,045 | | |\n| 23 | Trading liabilities (at fair value) | 195,123 | | 191,324 | | |\n| 24 | Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value) | 70,009 | | 60,961 | | |\n| 25 | Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value) | 224,024 | | 247,138 | | |\n| 26 | Other liabilities (includes $614 and $159 at fair value) | 20,083 | | 21,455 | | |\n| 27 | Total liabilities | 1,459,876 | | 1,324,610 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $10,703 | 11,203 | | 10,703 | | |\n| 31 | Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,117 | | 5,696 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 60,233 | | 59,050 | | |\n| 35 | Retained earnings | 142,743 | | 139,372 | | |\n| 36 | Accumulated other comprehensive loss | (2,599) | | (3,010) | | |\n| 37 | Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares | (99,429) | | (94,631) | | |\n| 38 | Total shareholders' equity | 117,277 | | 117,189 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,577,153 | | $ | 1,441,799 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:---------------------------------------|---:|\n| 1 | Goldman Sachs September 2023 Form 10-Q | 2 |\n\n","context_markdown_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------|:----------|:----------|:----------|:---|:----------|\n| 1 | | As of | | | | |\n| 2 | | September | December | | | |\n| 3 | $ in millions | 2023 | 2022 | | | |\n| 4 | Assets | | | | | |\n| 5 | Cash and cash equivalents | $ | 239,879 | | $ | 241,825 |\n| 6 | Collateralized agreements: | | | | | |\n| 7 | Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value) | 190,695 | | 225,117 | | |\n| 8 | Securities borrowed (includes $36,792 and $38,578 at fair value) | 196,925 | | 189,041 | | |\n| 9 | Customer and other receivables (includes $23 and $25 at fair value) | 140,866 | | 135,448 | | |\n| 10 | Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral) | 448,060 | | 301,245 | | |\n| 11 | Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral) | 145,530 | | 130,629 | | |\n| 12 | Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value) | 178,257 | | 179,286 | | |\n| 13 | Other assets (includes $324 and $145 at fair value) | 36,941 | | 39,208 | | |\n| 14 | Total assets | $ | 1,577,153 | | $ | 1,441,799 |\n| 16 | Liabilities and shareholders' equity | | | | | |\n| 17 | Deposits (includes $28,557 and $15,746 at fair value) | $ | 402,962 | | $ | 386,665 |\n| 18 | Collateralized financings: | | | | | |\n| 19 | Securities sold under agreements to repurchase (at fair value) | 225,679 | | 110,349 | | |\n| 20 | Securities loaned (includes $8,178 and $4,372 at fair value) | 54,926 | | 30,727 | | |\n| 21 | Other secured financings (includes $14,114 and $12,756 at fair value) | 14,728 | | 13,946 | | |\n| 22 | Customer and other payables | 252,342 | | 262,045 | | |\n| 23 | Trading liabilities (at fair value) | 195,123 | | 191,324 | | |\n| 24 | Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value) | 70,009 | | 60,961 | | |\n| 25 | Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value) | 224,024 | | 247,138 | | |\n| 26 | Other liabilities (includes $614 and $159 at fair value) | 20,083 | | 21,455 | | |\n| 27 | Total liabilities | 1,459,876 | | 1,324,610 | | |\n| 28 | Commitments, contingencies and guarantees | | | | | |\n| 29 | Shareholders' equity | | | | | |\n| 30 | Preferred stock; aggregate liquidation preference of $11,203 and $10,703 | 11,203 | | 10,703 | | |\n| 31 | Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding | 9 | | 9 | | |\n| 32 | Share-based awards | 5,117 | | 5,696 | | |\n| 33 | Nonvoting common stock; no shares issued and outstanding | \u2013 | | \u2013 | | |\n| 34 | Additional paid-in capital | 60,233 | | 59,050 | | |\n| 35 | Retained earnings | 142,743 | | 139,372 | | |\n| 36 | Accumulated other comprehensive loss | (2,599) | | (3,010) | | |\n| 37 | Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares | (99,429) | | (94,631) | | |\n| 38 | Total shareholders' equity | 117,277 | | 117,189 | | |\n| 39 | Total liabilities and shareholders' equity | $ | 1,577,153 | | $ | 1,441,799 |\nThe accompanying notes are an integral part of these consolidated financial statements. \n\n| | | |\n|---:|:---------------------------------------|---:|\n| 1 | Goldman Sachs September 2023 Form 10-Q | 2 |\n\n","context_html_with_headers":"GOLDMAN SACHS GROUP INC 10-Q form for quarterly period ended 2023-09-30, page 2: \nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>September<\/td>December<\/td><\/tr>
$ in millions<\/td>2023<\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>239,879 <\/td><\/td>$<\/td>241,825 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value)<\/td>190,695 <\/td><\/td>225,117 <\/td><\/td><\/tr>
Securities borrowed (includes $36,792 and $38,578 at fair value)<\/td>196,925 <\/td><\/td>189,041 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $25 at fair value)<\/td>140,866 <\/td><\/td>135,448 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral)<\/td>448,060 <\/td><\/td>301,245 <\/td><\/td><\/tr>
Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral)<\/td>145,530 <\/td><\/td>130,629 <\/td><\/td><\/tr>
Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value)<\/td>178,257 <\/td><\/td>179,286 <\/td><\/td><\/tr>
Other assets (includes $324 and $145 at fair value)<\/td>36,941 <\/td><\/td>39,208 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $28,557 and $15,746 at fair value)<\/td>$<\/td>402,962 <\/td><\/td>$<\/td>386,665 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>225,679 <\/td><\/td>110,349 <\/td><\/td><\/tr>
Securities loaned (includes $8,178 and $4,372 at fair value)<\/td>54,926 <\/td><\/td>30,727 <\/td><\/td><\/tr>
Other secured financings (includes $14,114 and $12,756 at fair value)<\/td>14,728 <\/td><\/td>13,946 <\/td><\/td><\/tr>
Customer and other payables<\/td>252,342 <\/td><\/td>262,045 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>195,123 <\/td><\/td>191,324 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value)<\/td>70,009 <\/td><\/td>60,961 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value)<\/td>224,024 <\/td><\/td>247,138 <\/td><\/td><\/tr>
Other liabilities (includes $614 and $159 at fair value)<\/td>20,083 <\/td><\/td>21,455 <\/td><\/td><\/tr>
Total liabilities<\/td>1,459,876 <\/td><\/td>1,324,610 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $10,703<\/td>11,203 <\/td><\/td>10,703 <\/td><\/td><\/tr>
Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,117 <\/td><\/td>5,696 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>60,233 <\/td><\/td>59,050 <\/td><\/td><\/tr>
Retained earnings<\/td>142,743 <\/td><\/td>139,372 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,599)<\/td><\/td>(3,010)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares<\/td>(99,429)<\/td><\/td>(94,631)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>117,277 <\/td><\/td>117,189 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs September 2023 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n","context_html_without_headers":"\nTHE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES\n\n\nConsolidated Balance Sheets \n\n(Unaudited)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>As of<\/td><\/tr>
<\/td>September<\/td>December<\/td><\/tr>
$ in millions<\/td>2023<\/td>2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>239,879 <\/td><\/td>$<\/td>241,825 <\/td><\/td><\/tr>
Collateralized agreements:<\/td><\/td><\/td><\/tr>
Securities purchased under agreements to resell (includes $190,446 and $225,117 at fair value)<\/td>190,695 <\/td><\/td>225,117 <\/td><\/td><\/tr>
Securities borrowed (includes $36,792 and $38,578 at fair value)<\/td>196,925 <\/td><\/td>189,041 <\/td><\/td><\/tr>
Customer and other receivables (includes $23 and $25 at fair value)<\/td>140,866 <\/td><\/td>135,448 <\/td><\/td><\/tr>
Trading assets (at fair value and includes $97,406 and $40,143 pledged as collateral)<\/td>448,060 <\/td><\/td>301,245 <\/td><\/td><\/tr>
Investments (includes $76,307 and $78,201 at fair value, and $8,463 and $9,818 pledged as collateral)<\/td>145,530 <\/td><\/td>130,629 <\/td><\/td><\/tr>
Loans (net of allowance of $4,895 and $5,543, and includes $6,448 and $7,655 at fair value)<\/td>178,257 <\/td><\/td>179,286 <\/td><\/td><\/tr>
Other assets (includes $324 and $145 at fair value)<\/td>36,941 <\/td><\/td>39,208 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/tr>
Liabilities and shareholders' equity<\/td><\/td><\/td><\/tr>
Deposits (includes $28,557 and $15,746 at fair value)<\/td>$<\/td>402,962 <\/td><\/td>$<\/td>386,665 <\/td><\/td><\/tr>
Collateralized financings:<\/td><\/td><\/td><\/tr>
Securities sold under agreements to repurchase (at fair value)<\/td>225,679 <\/td><\/td>110,349 <\/td><\/td><\/tr>
Securities loaned (includes $8,178 and $4,372 at fair value)<\/td>54,926 <\/td><\/td>30,727 <\/td><\/td><\/tr>
Other secured financings (includes $14,114 and $12,756 at fair value)<\/td>14,728 <\/td><\/td>13,946 <\/td><\/td><\/tr>
Customer and other payables<\/td>252,342 <\/td><\/td>262,045 <\/td><\/td><\/tr>
Trading liabilities (at fair value)<\/td>195,123 <\/td><\/td>191,324 <\/td><\/td><\/tr>
Unsecured short-term borrowings (includes $42,351 and $39,731 at fair value)<\/td>70,009 <\/td><\/td>60,961 <\/td><\/td><\/tr>
Unsecured long-term borrowings (includes $73,916 and $73,147 at fair value)<\/td>224,024 <\/td><\/td>247,138 <\/td><\/td><\/tr>
Other liabilities (includes $614 and $159 at fair value)<\/td>20,083 <\/td><\/td>21,455 <\/td><\/td><\/tr>
Total liabilities<\/td>1,459,876 <\/td><\/td>1,324,610 <\/td><\/td><\/tr>
Commitments, contingencies and guarantees<\/td><\/td><\/td><\/tr>
Shareholders' equity<\/td><\/td><\/td><\/tr>
Preferred stock; aggregate liquidation preference of $11,203 and $10,703<\/td>11,203 <\/td><\/td>10,703 <\/td><\/td><\/tr>
Common stock; 922,889,392 and 917,815,030 shares issued, and 326,604,718 and 334,918,639 shares outstanding<\/td>9 <\/td><\/td>9 <\/td><\/td><\/tr>
Share-based awards<\/td>5,117 <\/td><\/td>5,696 <\/td><\/td><\/tr>
Nonvoting common stock; no shares issued and outstanding<\/td>\u2013 <\/td><\/td>\u2013 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>60,233 <\/td><\/td>59,050 <\/td><\/td><\/tr>
Retained earnings<\/td>142,743 <\/td><\/td>139,372 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(2,599)<\/td><\/td>(3,010)<\/td><\/td><\/tr>
Stock held in treasury, at cost; 596,284,676 and 582,896,393 shares<\/td>(99,429)<\/td><\/td>(94,631)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>117,277 <\/td><\/td>117,189 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>1,577,153 <\/td><\/td>$<\/td>1,441,799 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements. \n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Goldman Sachs September 2023 Form 10-Q<\/td><\/td>2<\/td><\/tr><\/table>\n"} +{"QID":"q_Ra099","Question":"Could you outline JPMorgan Chase\u2019s Net Profit Margin for the first quarter of 2024 ending March 31?","ground_truth_answer":"The Net Profit Margin for JPMorgan Chase for the three months ended March 31, 2024, is calculated as follows:\nNet Profit Margin = (Net Income \/ Revenue) * 100\nNet Income (2024) = $13,419 million\nRevenue (2024) = $41,934 million\nNet Profit Margin = (13,419 \/ 41,934) * 100 = 32.00%","question_type":"Ratio","page_number":83,"accession_number":"0000019617-24-000326","item":"Item 1.\tFinancial Statements.","context_markdown_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n","context_markdown_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n","context_html_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n","context_html_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n"} +{"QID":"q_Ra100","Question":"What Operating Profit Margin did JPMorgan Chase report for the three months ending March 31, 2024?","ground_truth_answer":"The Operating Profit Margin for JPMorgan Chase for the three months ended March 31, 2024, is calculated as follows:\nOperating Profit Margin = (Operating Profit \/ Revenue) * 100\nOperating Profit (2024) = Income before income tax expense = $17,293 million\nRevenue (2024) = $41,934 million\nOperating Profit Margin = (17,293 \/ 41,934) * 100 = 41.24%","question_type":"Ratio","page_number":83,"accession_number":"0000019617-24-000326","item":"Item 1.\tFinancial Statements.","context_markdown_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n","context_markdown_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n","context_html_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n","context_html_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n"} +{"QID":"q_Ra101","Question":"What is JPMorgan Chase's Return on Equity (ROE) for the three months up to March 31, 2024?","ground_truth_answer":"Using Net Income Applicable to Common Stockholders and Annualized ROE\nReturn on Equity (ROE) is calculated using the formula:\nROE = (Net Income Applicable to Common Stockholders \/ Average Stockholders' Equity) * 100\n\nFor the three months ended March 31, 2024:\nNet Income Applicable to Common Stockholders = $12,942 million\nShareholders' Equity (March 31, 2024) = $336,637 million\nShareholders' Equity (December 31, 2023) = $327,878 million\n\nAverage Stockholders' Equity = ($336,637 million + $327,878 million) \/ 2 = $332,257.5 million\n\nROE (for the quarter) = ($12,942 \/ $332,257.5) * 100 \u2248 3.9%\n\nTo express ROE as an annualized figure:\nAnnualized ROE = 3.9% * 4 = 15.6%","question_type":"Ratio","page_number":"83, 85","accession_number":"0000019617-24-000326","item":"Item 1.\tFinancial Statements.","context_markdown_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_markdown_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n"} +{"QID":"q_Ra102","Question":"Could you provide the Return on Assets (ROA) for JPMorgan Chase for Q1 2024?","ground_truth_answer":"The Return on Assets (ROA) for JPMorgan Chase for the three months ended March 31, 2024, is calculated as follows:\nROA = (Net Income \/ Total Assets) * 100\nNet Income (2024) = $13,419 million\nTotal Assets (2024) = $4,090,727 million\nROA = (13,419 \/ 4,090,727) * 100 = 0.33%","question_type":"Ratio","page_number":"83, 85","accession_number":"0000019617-24-000326","item":"Item 1.\tFinancial Statements.","context_markdown_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_markdown_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n"} +{"QID":"q_Ra103","Question":"What was the Debt to Equity Ratio for JPMorgan Chase as of March 31, 2024?","ground_truth_answer":"The Debt Equity Ratio for JPMorgan Chase as of March 31, 2024, is calculated as follows:\nDebt Equity Ratio = Total Debt \/ Shareholders' Equity\nTotal Debt (2024) = $3,754,090 million\nShareholders' Equity (2024) = $336,637 million\nDebt Equity Ratio = 3,754,090 \/ 336,637 = 11.15","question_type":"Ratio","page_number":85,"accession_number":"0000019617-24-000326","item":"Item 1.\tFinancial Statements.","context_markdown_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_markdown_without_headers":"JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_without_headers":"JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n"} +{"QID":"q_Ra104","Question":"How did the Interest Coverage Ratio look for JPMorgan Chase for the three-month period ending March 31, 2024?","ground_truth_answer":"The Interest Coverage Ratio for JPMorgan Chase for the three months ended March 31, 2024, is calculated as follows:\nInterest Coverage Ratio = (EBIT \/ Interest Expense).\n\nStep 1: Calculate EBIT\nEarnings Before Interest and Taxes (EBIT) is calculated by adding Interest Expense back to Income Before Income Tax Expense.\n\nIncome Before Income Tax Expense = $17,293 million\nInterest Expense = $24,356 million\nEBIT = $17,293 million + $24,356 million = $41,649 million\nStep 2: Calculate Interest Coverage Ratio\nInterest Coverage Ratio = EBIT \/ Interest Expense\n= $41,649 \/ $24,356\n\u2248 1.71\nAnalysis:\nThe Interest Coverage Ratio for JPMorgan Chase for the three-month period ending March 31, 2024, is approximately 1.71, indicating that the company earned enough to cover its interest expenses 1.71 times during this period.","question_type":"Ratio","page_number":"83, 85","accession_number":"0000019617-24-000326","item":"Item 1.\tFinancial Statements.","context_markdown_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_markdown_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n"} +{"QID":"q_Ra105","Question":"What is the Long-term Debt to Capitalization Ratio for JPMorgan Chase as of March 31, 2024?","ground_truth_answer":"The Long-term Debt to Capitalization Ratio for JPMorgan Chase as of March 31, 2024, is calculated as follows:\nLong-term Debt to Capitalization Ratio = Long-term Debt \/ (Long-term Debt + Shareholders' Equity)\nLong-term Debt (2024) = $395,872 million\nShareholders' Equity (2024) = $336,637 million\nLong-term Debt to Capitalization Ratio = 395,872 \/ (395,872 + 336,637) = 0.54","question_type":"Ratio","page_number":"83, 85","accession_number":"0000019617-24-000326","item":"Item 1.\tFinancial Statements.","context_markdown_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_markdown_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n"} +{"QID":"q_Ra106","Question":"What was the Asset Turnover Ratio for JPMorgan Chase for Q1 2024?","ground_truth_answer":"The Asset Turnover Ratio for JPMorgan Chase for the three months ended March 31, 2024, is calculated as follows:\nAsset Turnover Ratio = Net Sales \/ Average Total Assets\nNet Sales (2024) = Total net revenue = $41,934 million\nAverage Total Assets (2024) = ($4,090,727 million + $3,875,393 million) \/ 2 = $3,983,060 million\nAsset Turnover Ratio = 41,934 \/ 3,983,060 = 0.01","question_type":"Ratio","page_number":"83, 85","accession_number":"0000019617-24-000326","item":"Item 1.\tFinancial Statements.","context_markdown_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_markdown_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n| | | | | | | | |\n|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|\n| 1 | | Three months ended March 31, | | | | | |\n| 2 | (in millions, except per share data) | 2024 | | 2023 | | | |\n| 3 | Revenue | | | | | | |\n| 4 | Investment banking fees | $ | 1,954 | | | $ | 1,649 |\n| 5 | Principal transactions | 6,790 | | | 7,615 | | |\n| 6 | Lending- and deposit-related fees | 1,902 | | | 1,620 | | |\n| 7 | Asset management fees | 4,146 | | | 3,465 | | |\n| 8 | Commissions and other fees | 1,805 | | | 1,695 | | |\n| 10 | Investment securities losses | (366) | | | (868) | | |\n| 11 | Mortgage fees and related income | 275 | | | 221 | | |\n| 12 | Card income | 1,218 | | | 1,234 | | |\n| 13 | Other income | 1,128 | | | 1,007 | | |\n| 14 | Noninterest revenue | 18,852 | | | 17,638 | | |\n| 15 | Interest income | 47,438 | | | 37,004 | | |\n| 16 | Interest expense | 24,356 | | | 16,293 | | |\n| 17 | Net interest income | 23,082 | | | 20,711 | | |\n| 18 | Total net revenue | 41,934 | | | 38,349 | | |\n| 20 | Provision for credit losses | 1,884 | | | 2,275 | | |\n| 22 | Noninterest expense | | | | | | |\n| 23 | Compensation expense | 13,118 | | | 11,676 | | |\n| 24 | Occupancy expense | 1,211 | | | 1,115 | | |\n| 25 | Technology, communications and equipment expense | 2,421 | | | 2,184 | | |\n| 26 | Professional and outside services | 2,548 | | | 2,448 | | |\n| 27 | Marketing | 1,160 | | | 1,045 | | |\n| 28 | Other expense | 2,299 | | | 1,639 | | |\n| 29 | Total noninterest expense | 22,757 | | | 20,107 | | |\n| 30 | Income before income tax expense | 17,293 | | | 15,967 | | |\n| 31 | Income tax expense | 3,874 | | | 3,345 | | |\n| 32 | Net income | $ | 13,419 | | | $ | 12,622 |\n| 33 | Net income applicable to common stockholders | $ | 12,942 | | | $ | 12,193 |\n| 34 | Net income per common share data | | | | | | |\n| 35 | Basic earnings per share | $ | 4.45 | | | $ | 4.11 |\n| 36 | Diluted earnings per share | 4.44 | | | 4.10 | | |\n| 38 | Weighted-average basic shares | 2,908.3 | | | 2,968.5 | | |\n| 39 | Weighted-average diluted shares | 2,912.8 | | | 2,972.7 | | |\n\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|\n| 1 | (in millions, except share data) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Cash and due from banks | $ | 22,750 | | | $ | 29,066 |\n| 4 | Deposits with banks | 539,366 | | | 595,085 | | |\n| 5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value) | 330,559 | | | 276,152 | | |\n| 6 | Securities borrowed (included $84,258 and $70,086 at fair value) | 198,336 | | | 200,436 | | |\n| 7 | Trading assets (included assets pledged of $180,196 and $128,994) | 754,409 | | | 540,607 | | |\n| 8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219) | 236,152 | | | 201,704 | | |\n| 9 | Held-to-maturity securities | 334,527 | | | 369,848 | | |\n| 10 | Investment securities, net of allowance for credit losses | 570,679 | | | 571,552 | | |\n| 11 | Loans (included $39,046 and $38,851 at fair value) | 1,309,616 | | | 1,323,706 | | |\n| 12 | Allowance for loan losses | (22,351) | | | (22,420) | | |\n| 13 | Loans, net of allowance for loan losses | 1,287,265 | | | 1,301,286 | | |\n| 14 | Accrued interest and accounts receivable | 129,823 | | | 107,363 | | |\n| 15 | Premises and equipment | 30,279 | | | 30,157 | | |\n| 16 | Goodwill, MSRs and other intangible assets | 64,374 | | | 64,381 | | |\n| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764) | 162,887 | | | 159,308 | | |\n| 18 | Total assets(a) | $ | 4,090,727 | | | $ | 3,875,393 |\n| 19 | Liabilities | | | | | | |\n| 20 | Deposits (included $80,578 and $78,384 at fair value) | $ | 2,428,409 | | | $ | 2,400,688 |\n| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670 | | | 216,535 | | |\n| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value) | 46,268 | | | 44,712 | | |\n| 23 | Trading liabilities | 228,327 | | | 180,428 | | |\n| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value) | 301,469 | | | 290,307 | | |\n| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value) | 28,075 | | | 23,020 | | |\n| 26 | Long-term debt (included $92,730 and $87,924 at fair value) | 395,872 | | | 391,825 | | |\n| 27 | Total liabilities(a) | 3,754,090 | | | 3,547,515 | | |\n| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24) | | | | | | |\n| 29 | Stockholders' equity | | | | | | |\n| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) | 29,900 | | | 27,404 | | |\n| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | | | 4,105 | | |\n| 32 | Additional paid-in capital | 89,903 | | | 90,128 | | |\n| 33 | Retained earnings | 342,414 | | | 332,901 | | |\n| 34 | Accumulated other comprehensive losses | (11,639) | | | (10,443) | | |\n| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares) | (118,046) | | | (116,217) | | |\n| 36 | Total stockholders' equity | 336,637 | | | 327,878 | | |\n| 37 | Total liabilities and stockholders' equity | $ | 4,090,727 | | | $ | 3,875,393 |\n(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n| | | | | | | | |\n|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|\n| 1 | (in millions) | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Trading assets | $ | 2,229 | | | $ | 2,170 |\n| 4 | Loans | 40,059 | | | 37,611 | | |\n| 5 | All other assets | 648 | | | 591 | | |\n| 6 | Total assets | $ | 42,936 | | | $ | 40,372 |\n| 7 | Liabilities | | | | | | |\n| 8 | Beneficial interests issued by consolidated VIEs | $ | 28,075 | | | $ | 23,020 |\n| 9 | All other liabilities | 282 | | | 263 | | |\n| 10 | Total liabilities | $ | 28,357 | | | $ | 23,283 |\n\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_with_headers":"JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n","context_html_without_headers":"JPMorgan Chase & Co.\nConsolidated statements of income (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three months ended March 31,<\/td><\/td><\/td><\/tr>
(in millions, except per share data)<\/td>2024<\/td><\/td>2023<\/td><\/td><\/td><\/td><\/td><\/tr>
Revenue<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment banking fees<\/td>$<\/td>1,954 <\/td><\/td><\/td>$<\/td>1,649 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Principal transactions<\/td>6,790 <\/td><\/td><\/td>7,615 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Lending- and deposit-related fees<\/td>1,902 <\/td><\/td><\/td>1,620 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Asset management fees<\/td>4,146 <\/td><\/td><\/td>3,465 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commissions and other fees<\/td>1,805 <\/td><\/td><\/td>1,695 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Investment securities losses<\/td>(366)<\/td><\/td><\/td>(868)<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Mortgage fees and related income<\/td>275 <\/td><\/td><\/td>221 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Card income<\/td>1,218 <\/td><\/td><\/td>1,234 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other income<\/td>1,128 <\/td><\/td><\/td>1,007 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest revenue<\/td>18,852 <\/td><\/td><\/td>17,638 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest income<\/td>47,438 <\/td><\/td><\/td>37,004 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Interest expense<\/td>24,356 <\/td><\/td><\/td>16,293 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net interest income<\/td>23,082 <\/td><\/td><\/td>20,711 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total net revenue<\/td>41,934 <\/td><\/td><\/td>38,349 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Provision for credit losses<\/td>1,884 <\/td><\/td><\/td>2,275 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Noninterest expense<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Compensation expense<\/td>13,118 <\/td><\/td><\/td>11,676 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Occupancy expense<\/td>1,211 <\/td><\/td><\/td>1,115 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Technology, communications and equipment expense<\/td>2,421 <\/td><\/td><\/td>2,184 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Professional and outside services<\/td>2,548 <\/td><\/td><\/td>2,448 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Marketing<\/td>1,160 <\/td><\/td><\/td>1,045 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Other expense<\/td>2,299 <\/td><\/td><\/td>1,639 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total noninterest expense<\/td>22,757 <\/td><\/td><\/td>20,107 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income before income tax expense<\/td>17,293 <\/td><\/td><\/td>15,967 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Income tax expense<\/td>3,874 <\/td><\/td><\/td>3,345 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income<\/td>$<\/td>13,419 <\/td><\/td><\/td>$<\/td>12,622 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income applicable to common stockholders<\/td>$<\/td>12,942 <\/td><\/td><\/td>$<\/td>12,193 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per common share data<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic earnings per share<\/td>$<\/td>4.45 <\/td><\/td><\/td>$<\/td>4.11 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Diluted earnings per share<\/td>4.44 <\/td><\/td><\/td>4.10 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average basic shares<\/td>2,908.3 <\/td><\/td><\/td>2,968.5 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Weighted-average diluted shares<\/td>2,912.8 <\/td><\/td><\/td>2,972.7 <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n83\n\n\n\n\n, JPMorgan Chase & Co.\nConsolidated balance sheets (unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions, except share data)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Cash and due from banks<\/td>$<\/td>22,750 <\/td><\/td><\/td>$<\/td>29,066 <\/td><\/td><\/tr>
Deposits with banks<\/td>539,366 <\/td><\/td><\/td>595,085 <\/td><\/td><\/tr>
Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)<\/td>330,559 <\/td><\/td><\/td>276,152 <\/td><\/td><\/tr>
Securities borrowed (included $84,258 and $70,086 at fair value)<\/td>198,336 <\/td><\/td><\/td>200,436 <\/td><\/td><\/tr>
Trading assets (included assets pledged of $180,196 and $128,994)<\/td>754,409 <\/td><\/td><\/td>540,607 <\/td><\/td><\/tr>
Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)<\/td>236,152 <\/td><\/td><\/td>201,704 <\/td><\/td><\/tr>
Held-to-maturity securities <\/td>334,527 <\/td><\/td><\/td>369,848 <\/td><\/td><\/tr>
Investment securities, net of allowance for credit losses<\/td>570,679 <\/td><\/td><\/td>571,552 <\/td><\/td><\/tr>
Loans (included $39,046 and $38,851 at fair value)<\/td>1,309,616 <\/td><\/td><\/td>1,323,706 <\/td><\/td><\/tr>
Allowance for loan losses<\/td>(22,351)<\/td><\/td><\/td>(22,420)<\/td><\/td><\/tr>
Loans, net of allowance for loan losses<\/td>1,287,265 <\/td><\/td><\/td>1,301,286 <\/td><\/td><\/tr>
Accrued interest and accounts receivable<\/td>129,823 <\/td><\/td><\/td>107,363 <\/td><\/td><\/tr>
Premises and equipment<\/td>30,279 <\/td><\/td><\/td>30,157 <\/td><\/td><\/tr>
Goodwill, MSRs and other intangible assets<\/td>64,374 <\/td><\/td><\/td>64,381 <\/td><\/td><\/tr>
Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)<\/td>162,887 <\/td><\/td><\/td>159,308 <\/td><\/td><\/tr>
Total assets(a)<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Deposits (included $80,578 and $78,384 at fair value)<\/td>$<\/td>2,428,409 <\/td><\/td><\/td>$<\/td>2,400,688 <\/td><\/td><\/tr>
Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value)<\/td>325,670 <\/td><\/td><\/td>216,535 <\/td><\/td><\/tr>
Short-term borrowings (included $22,856 and $20,042 at fair value)<\/td>46,268 <\/td><\/td><\/td>44,712 <\/td><\/td><\/tr>
Trading liabilities<\/td>228,327 <\/td><\/td><\/td>180,428 <\/td><\/td><\/tr>
Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)<\/td>301,469 <\/td><\/td><\/td>290,307 <\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)<\/td>28,075 <\/td><\/td><\/td>23,020 <\/td><\/td><\/tr>
Long-term debt (included $92,730 and $87,924 at fair value)<\/td>395,872 <\/td><\/td><\/td>391,825 <\/td><\/td><\/tr>
Total liabilities(a)<\/td>3,754,090 <\/td><\/td><\/td>3,547,515 <\/td><\/td><\/tr>
Commitments and contingencies (refer to Notes 22, 23 and 24)<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares) <\/td>29,900 <\/td><\/td><\/td>27,404 <\/td><\/td><\/tr>
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)<\/td>4,105 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>89,903 <\/td><\/td><\/td>90,128 <\/td><\/td><\/tr>
Retained earnings<\/td>342,414 <\/td><\/td><\/td>332,901 <\/td><\/td><\/tr>
Accumulated other comprehensive losses<\/td>(11,639)<\/td><\/td><\/td>(10,443)<\/td><\/td><\/tr>
Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)<\/td>(118,046)<\/td><\/td><\/td>(116,217)<\/td><\/td><\/tr>
Total stockholders' equity<\/td>336,637 <\/td><\/td><\/td>327,878 <\/td><\/td><\/tr>
Total liabilities and stockholders' equity<\/td>$<\/td>4,090,727 <\/td><\/td><\/td>$<\/td>3,875,393 <\/td><\/td><\/tr><\/table>(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(in millions)<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Trading assets<\/td>$<\/td>2,229 <\/td><\/td><\/td>$<\/td>2,170 <\/td><\/td><\/tr>
Loans<\/td>40,059 <\/td><\/td><\/td>37,611 <\/td><\/td><\/tr>
All other assets<\/td>648 <\/td><\/td><\/td>591 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>42,936 <\/td><\/td><\/td>$<\/td>40,372 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Beneficial interests issued by consolidated VIEs<\/td>$<\/td>28,075 <\/td><\/td><\/td>$<\/td>23,020 <\/td><\/td><\/tr>
All other liabilities<\/td>282 <\/td><\/td><\/td>263 <\/td><\/td><\/tr>
Total liabilities<\/td>$<\/td>28,357 <\/td><\/td><\/td>$<\/td>23,283 <\/td><\/td><\/tr><\/table>\n The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.\n\n85\n\n\n\n\n"} +{"QID":"q_Ra107","Question":"What was Honeywell International Inc.\u2019s Net Profit Margin for the three-month period ending March 31, 2024?","ground_truth_answer":"The Net Profit Margin for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:\nNet Profit Margin = (Net Income \/ Net Sales) * 100\nNet Income = $1,463 million\nNet Sales = $9,105 million\nNet Profit Margin = (1,463 \/ 9,105) * 100 = 16.06%","question_type":"Ratio","page_number":3,"accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra108","Question":"How is Honeywell International Inc.\u2019s Gross Profit Margin for Q1 2024 calculated?","ground_truth_answer":"The Gross Profit Margin for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:\nGross Profit Margin = (Gross Profit \/ Net Sales) * 100\nGross Profit = Net Sales - Total Cost of Products and Services Sold\nGross Profit = $9,105 million - $5,583 million = $3,522 million\nGross Profit Margin = (3,522 \/ 9,105) * 100 = 38.67%","question_type":"Ratio","page_number":3,"accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra109","Question":"What is the Operating Profit Margin for Honeywell International Inc. for Q1 2024?","ground_truth_answer":" The Operating Profit Margin for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:\nOperating Profit Margin = (Operating Profit \/ Net Sales) * 100\nOperating Profit = Income before taxes + Interest and other financial charges - Other (income) expense\nOperating Profit = $1,871 million + $220 million - $231 million = $1,860 million\nOperating Profit Margin = (1,860 \/ 9,105) * 100 = 20.42%","question_type":"Ratio","page_number":3,"accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra110","Question":"Could you provide the EBITDA Margin for Honeywell International Inc. for the three-month period ending March 31, 2024?","ground_truth_answer":"The EBITDA Margin for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:\nEBITDA Margin = (EBITDA \/ Net Sales) * 100\nEBITDA = Operating Profit + Depreciation + Amortization\nOperating Profit = $1,860 million\nDepreciation = $166 million\nAmortization = $125 million\nEBITDA = $1,860 million + $166 million + $125 million = $2,151 million\nEBITDA Margin = (2,151 \/ 9,105) * 100 = 23.62%","question_type":"Ratio","page_number":"3, 6","accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 6: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF CASH FLOWS\n\n(Unaudited)\n| | | | | | | | |\n|---:|:----------------------------------------------------------------------------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | |\n| 2 | | 2024 | | 2023 | | | |\n| 3 | | (Dollars in millions) | | | | | |\n| 4 | Cash flows from operating activities | | | | | | |\n| 5 | Net income | $ | 1,475 | | | $ | 1,408 |\n| 6 | Less: Net income attributable to noncontrolling interest | 12 | | | 14 | | |\n| 7 | Net income attributable to Honeywell | 1,463 | | | 1,394 | | |\n| 8 | Adjustments to reconcile net income attributable to Honeywell to net cash provided by (used for) operating activities | | | | | | |\n| 9 | Depreciation | 166 | | | 161 | | |\n| 10 | Amortization | 125 | | | 122 | | |\n| 12 | Repositioning and other charges | 93 | | | 141 | | |\n| 13 | Net payments for repositioning and other charges | (124) | | | (41) | | |\n| 14 | NARCO Buyout payment | - | | | (1,325) | | |\n| 15 | Pension and other postretirement income | (151) | | | (136) | | |\n| 16 | Pension and other postretirement benefit payments | (8) | | | (15) | | |\n| 17 | Stock compensation expense | 53 | | | 59 | | |\n| 18 | Deferred income taxes | 3 | | | 225 | | |\n| 20 | Other | (163) | | | (350) | | |\n| 21 | Changes in assets and liabilities, net of the effects of acquisitions and divestitures | | | | | | |\n| 22 | Accounts receivable | 53 | | | (422) | | |\n| 23 | Inventories | (140) | | | (238) | | |\n| 24 | Other current assets | 64 | | | 110 | | |\n| 25 | Accounts payable | (381) | | | 114 | | |\n| 26 | Accrued liabilities | (605) | | | (583) | | |\n| 27 | Net cash provided by (used for) operating activities | 448 | | | (784) | | |\n| 28 | Cash flows from investing activities | | | | | | |\n| 29 | Capital expenditures | (233) | | | (193) | | |\n| 30 | Proceeds from disposals of property, plant and equipment | - | | | 11 | | |\n| 31 | Increase in investments | (238) | | | (226) | | |\n| 32 | Decrease in investments | 155 | | | 386 | | |\n| 34 | Receipts (payments) from settlements of derivative contracts | 43 | | | (7) | | |\n| 37 | Net cash used for investing activities | (273) | | | (29) | | |\n| 38 | Cash flows from financing activities | | | | | | |\n| 39 | Proceeds from issuance of commercial paper and other short-term borrowings | 2,223 | | | 4,105 | | |\n| 40 | Payments of commercial paper and other short-term borrowings | (2,470) | | | (3,294) | | |\n| 41 | Proceeds from issuance of common stock | 144 | | | 37 | | |\n| 42 | Proceeds from issuance of long-term debt | 5,710 | | | - | | |\n| 43 | Payments of long-term debt | (573) | | | (1,363) | | |\n| 44 | Repurchases of common stock | (671) | | | (699) | | |\n| 45 | Cash dividends paid | (703) | | | (725) | | |\n| 46 | Other | 36 | | | (34) | | |\n| 47 | Net cash provided by (used for) financing activities | 3,696 | | | (1,973) | | |\n| 48 | Effect of foreign exchange rate changes on cash and cash equivalents | (40) | | | 28 | | |\n| 49 | Net increase (decrease) in cash and cash equivalents | 3,831 | | | (2,758) | | |\n| 50 | Cash and cash equivalents at beginning of period | 7,925 | | | 9,627 | | |\n| 51 | Cash and cash equivalents at end of period | $ | 11,756 | | | $ | 6,869 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n6 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF CASH FLOWS\n\n(Unaudited)\n| | | | | | | | |\n|---:|:----------------------------------------------------------------------------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | |\n| 2 | | 2024 | | 2023 | | | |\n| 3 | | (Dollars in millions) | | | | | |\n| 4 | Cash flows from operating activities | | | | | | |\n| 5 | Net income | $ | 1,475 | | | $ | 1,408 |\n| 6 | Less: Net income attributable to noncontrolling interest | 12 | | | 14 | | |\n| 7 | Net income attributable to Honeywell | 1,463 | | | 1,394 | | |\n| 8 | Adjustments to reconcile net income attributable to Honeywell to net cash provided by (used for) operating activities | | | | | | |\n| 9 | Depreciation | 166 | | | 161 | | |\n| 10 | Amortization | 125 | | | 122 | | |\n| 12 | Repositioning and other charges | 93 | | | 141 | | |\n| 13 | Net payments for repositioning and other charges | (124) | | | (41) | | |\n| 14 | NARCO Buyout payment | - | | | (1,325) | | |\n| 15 | Pension and other postretirement income | (151) | | | (136) | | |\n| 16 | Pension and other postretirement benefit payments | (8) | | | (15) | | |\n| 17 | Stock compensation expense | 53 | | | 59 | | |\n| 18 | Deferred income taxes | 3 | | | 225 | | |\n| 20 | Other | (163) | | | (350) | | |\n| 21 | Changes in assets and liabilities, net of the effects of acquisitions and divestitures | | | | | | |\n| 22 | Accounts receivable | 53 | | | (422) | | |\n| 23 | Inventories | (140) | | | (238) | | |\n| 24 | Other current assets | 64 | | | 110 | | |\n| 25 | Accounts payable | (381) | | | 114 | | |\n| 26 | Accrued liabilities | (605) | | | (583) | | |\n| 27 | Net cash provided by (used for) operating activities | 448 | | | (784) | | |\n| 28 | Cash flows from investing activities | | | | | | |\n| 29 | Capital expenditures | (233) | | | (193) | | |\n| 30 | Proceeds from disposals of property, plant and equipment | - | | | 11 | | |\n| 31 | Increase in investments | (238) | | | (226) | | |\n| 32 | Decrease in investments | 155 | | | 386 | | |\n| 34 | Receipts (payments) from settlements of derivative contracts | 43 | | | (7) | | |\n| 37 | Net cash used for investing activities | (273) | | | (29) | | |\n| 38 | Cash flows from financing activities | | | | | | |\n| 39 | Proceeds from issuance of commercial paper and other short-term borrowings | 2,223 | | | 4,105 | | |\n| 40 | Payments of commercial paper and other short-term borrowings | (2,470) | | | (3,294) | | |\n| 41 | Proceeds from issuance of common stock | 144 | | | 37 | | |\n| 42 | Proceeds from issuance of long-term debt | 5,710 | | | - | | |\n| 43 | Payments of long-term debt | (573) | | | (1,363) | | |\n| 44 | Repurchases of common stock | (671) | | | (699) | | |\n| 45 | Cash dividends paid | (703) | | | (725) | | |\n| 46 | Other | 36 | | | (34) | | |\n| 47 | Net cash provided by (used for) financing activities | 3,696 | | | (1,973) | | |\n| 48 | Effect of foreign exchange rate changes on cash and cash equivalents | (40) | | | 28 | | |\n| 49 | Net increase (decrease) in cash and cash equivalents | 3,831 | | | (2,758) | | |\n| 50 | Cash and cash equivalents at beginning of period | 7,925 | | | 9,627 | | |\n| 51 | Cash and cash equivalents at end of period | $ | 11,756 | | | $ | 6,869 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n6 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 6: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF CASH FLOWS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
Cash flows from operating activities<\/td> <\/td><\/td> <\/td><\/tr>
Net income<\/td>$<\/td>1,475 <\/td><\/td><\/td>$<\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td>1,463 <\/td><\/td><\/td>1,394 <\/td><\/td><\/tr>
Adjustments to reconcile net income attributable to Honeywell to net cash provided by (used for) operating activities<\/td><\/td><\/td><\/td><\/tr>
Depreciation<\/td>166 <\/td><\/td><\/td>161 <\/td><\/td><\/tr>
Amortization<\/td>125 <\/td><\/td><\/td>122 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Repositioning and other charges<\/td>93 <\/td><\/td><\/td>141 <\/td><\/td><\/tr>
Net payments for repositioning and other charges<\/td>(124)<\/td><\/td><\/td>(41)<\/td><\/td><\/tr>
NARCO Buyout payment<\/td>- <\/td><\/td><\/td>(1,325)<\/td><\/td><\/tr>
Pension and other postretirement income<\/td>(151)<\/td><\/td><\/td>(136)<\/td><\/td><\/tr>
Pension and other postretirement benefit payments<\/td>(8)<\/td><\/td><\/td>(15)<\/td><\/td><\/tr>
Stock compensation expense<\/td>53 <\/td><\/td><\/td>59 <\/td><\/td><\/tr>
Deferred income taxes<\/td>3 <\/td><\/td><\/td>225 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(163)<\/td><\/td><\/td>(350)<\/td><\/td><\/tr>
Changes in assets and liabilities, net of the effects of acquisitions and divestitures<\/td><\/td><\/td><\/td><\/tr>
Accounts receivable<\/td>53 <\/td><\/td><\/td>(422)<\/td><\/td><\/tr>
Inventories<\/td>(140)<\/td><\/td><\/td>(238)<\/td><\/td><\/tr>
Other current assets<\/td>64 <\/td><\/td><\/td>110 <\/td><\/td><\/tr>
Accounts payable<\/td>(381)<\/td><\/td><\/td>114 <\/td><\/td><\/tr>
Accrued liabilities<\/td>(605)<\/td><\/td><\/td>(583)<\/td><\/td><\/tr>
Net cash provided by (used for) operating activities<\/td>448 <\/td><\/td><\/td>(784)<\/td><\/td><\/tr>
Cash flows from investing activities<\/td><\/td><\/td><\/td><\/tr>
Capital expenditures<\/td>(233)<\/td><\/td><\/td>(193)<\/td><\/td><\/tr>
Proceeds from disposals of property, plant and equipment<\/td>- <\/td><\/td><\/td>11 <\/td><\/td><\/tr>
Increase in investments<\/td>(238)<\/td><\/td><\/td>(226)<\/td><\/td><\/tr>
Decrease in investments<\/td>155 <\/td><\/td><\/td>386 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Receipts (payments) from settlements of derivative contracts<\/td>43 <\/td><\/td><\/td>(7)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Net cash used for investing activities<\/td>(273)<\/td><\/td><\/td>(29)<\/td><\/td><\/tr>
Cash flows from financing activities<\/td><\/td><\/td><\/td><\/tr>
Proceeds from issuance of commercial paper and other short-term borrowings<\/td>2,223 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Payments of commercial paper and other short-term borrowings<\/td>(2,470)<\/td><\/td><\/td>(3,294)<\/td><\/td><\/tr>
Proceeds from issuance of common stock<\/td>144 <\/td><\/td><\/td>37 <\/td><\/td><\/tr>
Proceeds from issuance of long-term debt<\/td>5,710 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Payments of long-term debt<\/td>(573)<\/td><\/td><\/td>(1,363)<\/td><\/td><\/tr>
Repurchases of common stock<\/td>(671)<\/td><\/td><\/td>(699)<\/td><\/td><\/tr>
Cash dividends paid<\/td>(703)<\/td><\/td><\/td>(725)<\/td><\/td><\/tr>
Other<\/td>36 <\/td><\/td><\/td>(34)<\/td><\/td><\/tr>
Net cash provided by (used for) financing activities<\/td>3,696 <\/td><\/td><\/td>(1,973)<\/td><\/td><\/tr>
Effect of foreign exchange rate changes on cash and cash equivalents<\/td>(40)<\/td><\/td><\/td>28 <\/td><\/td><\/tr>
Net increase (decrease) in cash and cash equivalents<\/td>3,831 <\/td><\/td><\/td>(2,758)<\/td><\/td><\/tr>
Cash and cash equivalents at beginning of period<\/td>7,925 <\/td><\/td><\/td>9,627 <\/td><\/td><\/tr>
Cash and cash equivalents at end of period<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>6,869 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n6 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF CASH FLOWS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
Cash flows from operating activities<\/td> <\/td><\/td> <\/td><\/tr>
Net income<\/td>$<\/td>1,475 <\/td><\/td><\/td>$<\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td>1,463 <\/td><\/td><\/td>1,394 <\/td><\/td><\/tr>
Adjustments to reconcile net income attributable to Honeywell to net cash provided by (used for) operating activities<\/td><\/td><\/td><\/td><\/tr>
Depreciation<\/td>166 <\/td><\/td><\/td>161 <\/td><\/td><\/tr>
Amortization<\/td>125 <\/td><\/td><\/td>122 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Repositioning and other charges<\/td>93 <\/td><\/td><\/td>141 <\/td><\/td><\/tr>
Net payments for repositioning and other charges<\/td>(124)<\/td><\/td><\/td>(41)<\/td><\/td><\/tr>
NARCO Buyout payment<\/td>- <\/td><\/td><\/td>(1,325)<\/td><\/td><\/tr>
Pension and other postretirement income<\/td>(151)<\/td><\/td><\/td>(136)<\/td><\/td><\/tr>
Pension and other postretirement benefit payments<\/td>(8)<\/td><\/td><\/td>(15)<\/td><\/td><\/tr>
Stock compensation expense<\/td>53 <\/td><\/td><\/td>59 <\/td><\/td><\/tr>
Deferred income taxes<\/td>3 <\/td><\/td><\/td>225 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(163)<\/td><\/td><\/td>(350)<\/td><\/td><\/tr>
Changes in assets and liabilities, net of the effects of acquisitions and divestitures<\/td><\/td><\/td><\/td><\/tr>
Accounts receivable<\/td>53 <\/td><\/td><\/td>(422)<\/td><\/td><\/tr>
Inventories<\/td>(140)<\/td><\/td><\/td>(238)<\/td><\/td><\/tr>
Other current assets<\/td>64 <\/td><\/td><\/td>110 <\/td><\/td><\/tr>
Accounts payable<\/td>(381)<\/td><\/td><\/td>114 <\/td><\/td><\/tr>
Accrued liabilities<\/td>(605)<\/td><\/td><\/td>(583)<\/td><\/td><\/tr>
Net cash provided by (used for) operating activities<\/td>448 <\/td><\/td><\/td>(784)<\/td><\/td><\/tr>
Cash flows from investing activities<\/td><\/td><\/td><\/td><\/tr>
Capital expenditures<\/td>(233)<\/td><\/td><\/td>(193)<\/td><\/td><\/tr>
Proceeds from disposals of property, plant and equipment<\/td>- <\/td><\/td><\/td>11 <\/td><\/td><\/tr>
Increase in investments<\/td>(238)<\/td><\/td><\/td>(226)<\/td><\/td><\/tr>
Decrease in investments<\/td>155 <\/td><\/td><\/td>386 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Receipts (payments) from settlements of derivative contracts<\/td>43 <\/td><\/td><\/td>(7)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Net cash used for investing activities<\/td>(273)<\/td><\/td><\/td>(29)<\/td><\/td><\/tr>
Cash flows from financing activities<\/td><\/td><\/td><\/td><\/tr>
Proceeds from issuance of commercial paper and other short-term borrowings<\/td>2,223 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Payments of commercial paper and other short-term borrowings<\/td>(2,470)<\/td><\/td><\/td>(3,294)<\/td><\/td><\/tr>
Proceeds from issuance of common stock<\/td>144 <\/td><\/td><\/td>37 <\/td><\/td><\/tr>
Proceeds from issuance of long-term debt<\/td>5,710 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Payments of long-term debt<\/td>(573)<\/td><\/td><\/td>(1,363)<\/td><\/td><\/tr>
Repurchases of common stock<\/td>(671)<\/td><\/td><\/td>(699)<\/td><\/td><\/tr>
Cash dividends paid<\/td>(703)<\/td><\/td><\/td>(725)<\/td><\/td><\/tr>
Other<\/td>36 <\/td><\/td><\/td>(34)<\/td><\/td><\/tr>
Net cash provided by (used for) financing activities<\/td>3,696 <\/td><\/td><\/td>(1,973)<\/td><\/td><\/tr>
Effect of foreign exchange rate changes on cash and cash equivalents<\/td>(40)<\/td><\/td><\/td>28 <\/td><\/td><\/tr>
Net increase (decrease) in cash and cash equivalents<\/td>3,831 <\/td><\/td><\/td>(2,758)<\/td><\/td><\/tr>
Cash and cash equivalents at beginning of period<\/td>7,925 <\/td><\/td><\/td>9,627 <\/td><\/td><\/tr>
Cash and cash equivalents at end of period<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>6,869 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n6 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra111","Question":"What was Honeywell International Inc.\u2019s Debt to Equity Ratio as of March 31, 2024?","ground_truth_answer":"The Debt to Equity Ratio for Honeywell International Inc. as of March 31, 2024, is calculated as follows:\nDebt to Equity Ratio = Total Debt \/ Shareholders' Equity\nTotal Debt = Long-term Debt + Current Maturities of Long-term Debt + Commercial Paper and other Short-term Borrowings\nTotal Debt = $22,183 million + $1,254 million + $1,819 million = $25,256 million\nShareholders' Equity = $17,045 million\nDebt to Equity Ratio = 25,256 \/ 17,045 = 1.48","question_type":"Ratio","page_number":5,"accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra112","Question":"How is Honeywell International Inc.\u2019s Interest Coverage Ratio for Q1 2024 determined?","ground_truth_answer":"The Interest Coverage Ratio for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:\nInterest Coverage Ratio = EBIT \/ Interest Expenses\nEBIT = Income before taxes + Interest and other financial charges - Other (income) expense\nEBIT = $1,871 million + $220 million - $231 million = $1,860 million\nInterest Expenses = $220 million\nInterest Coverage Ratio = 1,860 \/ 220 = 8.45","question_type":"Ratio","page_number":3,"accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra113","Question":"How was the Long-term Debt to Capitalization Ratio for Honeywell International Inc. as of March 31, 2024, calculated?","ground_truth_answer":"The Long-term Debt to Capitalization Ratio for Honeywell International Inc. as of March 31, 2024, is determined as follows:\nLong-term Debt to Capitalization Ratio = Long-term Debt \/ (Long-term Debt + Shareholders' Equity)\nLong-term Debt = $22,183 million\nShareholders' Equity = $17,045 million\nLong-term Debt to Capitalization Ratio = 22,183 \/ (22,183 + 17,045) = 0.57 or 57%","question_type":"Ratio","page_number":5,"accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra114","Question":"What is Honeywell International Inc.\u2019s Debt Service Coverage Ratio (DSCR) for Q1 2024?","ground_truth_answer":"The Debt Service Coverage Ratio (DSCR) for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:\nDSCR = Net Operating Income \/ Debt Service\nNet Operating Income = Net Income + Interest and other financial charges + Depreciation + Amortization\nNet Income = $1,463 million\nInterest and other financial charges = $220 million\nDepreciation = $166 million\nAmortization = $125 million\nNet Operating Income = $1,463 million + $220 million + $166 million + $125 million = $1,974 million\nDebt Service = Current Maturities of Long-term Debt + Interest Expenses\nCurrent Maturities of Long-term Debt = $1,254 million\nInterest Expenses = $220 million\nDebt Service = $1,254 million + $220 million = $1,474 million\nDSCR = 1,974 \/ 1,474 = 1.34","question_type":"Ratio","page_number":"3, 5, 6","accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 6: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF CASH FLOWS\n\n(Unaudited)\n| | | | | | | | |\n|---:|:----------------------------------------------------------------------------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | |\n| 2 | | 2024 | | 2023 | | | |\n| 3 | | (Dollars in millions) | | | | | |\n| 4 | Cash flows from operating activities | | | | | | |\n| 5 | Net income | $ | 1,475 | | | $ | 1,408 |\n| 6 | Less: Net income attributable to noncontrolling interest | 12 | | | 14 | | |\n| 7 | Net income attributable to Honeywell | 1,463 | | | 1,394 | | |\n| 8 | Adjustments to reconcile net income attributable to Honeywell to net cash provided by (used for) operating activities | | | | | | |\n| 9 | Depreciation | 166 | | | 161 | | |\n| 10 | Amortization | 125 | | | 122 | | |\n| 12 | Repositioning and other charges | 93 | | | 141 | | |\n| 13 | Net payments for repositioning and other charges | (124) | | | (41) | | |\n| 14 | NARCO Buyout payment | - | | | (1,325) | | |\n| 15 | Pension and other postretirement income | (151) | | | (136) | | |\n| 16 | Pension and other postretirement benefit payments | (8) | | | (15) | | |\n| 17 | Stock compensation expense | 53 | | | 59 | | |\n| 18 | Deferred income taxes | 3 | | | 225 | | |\n| 20 | Other | (163) | | | (350) | | |\n| 21 | Changes in assets and liabilities, net of the effects of acquisitions and divestitures | | | | | | |\n| 22 | Accounts receivable | 53 | | | (422) | | |\n| 23 | Inventories | (140) | | | (238) | | |\n| 24 | Other current assets | 64 | | | 110 | | |\n| 25 | Accounts payable | (381) | | | 114 | | |\n| 26 | Accrued liabilities | (605) | | | (583) | | |\n| 27 | Net cash provided by (used for) operating activities | 448 | | | (784) | | |\n| 28 | Cash flows from investing activities | | | | | | |\n| 29 | Capital expenditures | (233) | | | (193) | | |\n| 30 | Proceeds from disposals of property, plant and equipment | - | | | 11 | | |\n| 31 | Increase in investments | (238) | | | (226) | | |\n| 32 | Decrease in investments | 155 | | | 386 | | |\n| 34 | Receipts (payments) from settlements of derivative contracts | 43 | | | (7) | | |\n| 37 | Net cash used for investing activities | (273) | | | (29) | | |\n| 38 | Cash flows from financing activities | | | | | | |\n| 39 | Proceeds from issuance of commercial paper and other short-term borrowings | 2,223 | | | 4,105 | | |\n| 40 | Payments of commercial paper and other short-term borrowings | (2,470) | | | (3,294) | | |\n| 41 | Proceeds from issuance of common stock | 144 | | | 37 | | |\n| 42 | Proceeds from issuance of long-term debt | 5,710 | | | - | | |\n| 43 | Payments of long-term debt | (573) | | | (1,363) | | |\n| 44 | Repurchases of common stock | (671) | | | (699) | | |\n| 45 | Cash dividends paid | (703) | | | (725) | | |\n| 46 | Other | 36 | | | (34) | | |\n| 47 | Net cash provided by (used for) financing activities | 3,696 | | | (1,973) | | |\n| 48 | Effect of foreign exchange rate changes on cash and cash equivalents | (40) | | | 28 | | |\n| 49 | Net increase (decrease) in cash and cash equivalents | 3,831 | | | (2,758) | | |\n| 50 | Cash and cash equivalents at beginning of period | 7,925 | | | 9,627 | | |\n| 51 | Cash and cash equivalents at end of period | $ | 11,756 | | | $ | 6,869 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n6 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF CASH FLOWS\n\n(Unaudited)\n| | | | | | | | |\n|---:|:----------------------------------------------------------------------------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | |\n| 2 | | 2024 | | 2023 | | | |\n| 3 | | (Dollars in millions) | | | | | |\n| 4 | Cash flows from operating activities | | | | | | |\n| 5 | Net income | $ | 1,475 | | | $ | 1,408 |\n| 6 | Less: Net income attributable to noncontrolling interest | 12 | | | 14 | | |\n| 7 | Net income attributable to Honeywell | 1,463 | | | 1,394 | | |\n| 8 | Adjustments to reconcile net income attributable to Honeywell to net cash provided by (used for) operating activities | | | | | | |\n| 9 | Depreciation | 166 | | | 161 | | |\n| 10 | Amortization | 125 | | | 122 | | |\n| 12 | Repositioning and other charges | 93 | | | 141 | | |\n| 13 | Net payments for repositioning and other charges | (124) | | | (41) | | |\n| 14 | NARCO Buyout payment | - | | | (1,325) | | |\n| 15 | Pension and other postretirement income | (151) | | | (136) | | |\n| 16 | Pension and other postretirement benefit payments | (8) | | | (15) | | |\n| 17 | Stock compensation expense | 53 | | | 59 | | |\n| 18 | Deferred income taxes | 3 | | | 225 | | |\n| 20 | Other | (163) | | | (350) | | |\n| 21 | Changes in assets and liabilities, net of the effects of acquisitions and divestitures | | | | | | |\n| 22 | Accounts receivable | 53 | | | (422) | | |\n| 23 | Inventories | (140) | | | (238) | | |\n| 24 | Other current assets | 64 | | | 110 | | |\n| 25 | Accounts payable | (381) | | | 114 | | |\n| 26 | Accrued liabilities | (605) | | | (583) | | |\n| 27 | Net cash provided by (used for) operating activities | 448 | | | (784) | | |\n| 28 | Cash flows from investing activities | | | | | | |\n| 29 | Capital expenditures | (233) | | | (193) | | |\n| 30 | Proceeds from disposals of property, plant and equipment | - | | | 11 | | |\n| 31 | Increase in investments | (238) | | | (226) | | |\n| 32 | Decrease in investments | 155 | | | 386 | | |\n| 34 | Receipts (payments) from settlements of derivative contracts | 43 | | | (7) | | |\n| 37 | Net cash used for investing activities | (273) | | | (29) | | |\n| 38 | Cash flows from financing activities | | | | | | |\n| 39 | Proceeds from issuance of commercial paper and other short-term borrowings | 2,223 | | | 4,105 | | |\n| 40 | Payments of commercial paper and other short-term borrowings | (2,470) | | | (3,294) | | |\n| 41 | Proceeds from issuance of common stock | 144 | | | 37 | | |\n| 42 | Proceeds from issuance of long-term debt | 5,710 | | | - | | |\n| 43 | Payments of long-term debt | (573) | | | (1,363) | | |\n| 44 | Repurchases of common stock | (671) | | | (699) | | |\n| 45 | Cash dividends paid | (703) | | | (725) | | |\n| 46 | Other | 36 | | | (34) | | |\n| 47 | Net cash provided by (used for) financing activities | 3,696 | | | (1,973) | | |\n| 48 | Effect of foreign exchange rate changes on cash and cash equivalents | (40) | | | 28 | | |\n| 49 | Net increase (decrease) in cash and cash equivalents | 3,831 | | | (2,758) | | |\n| 50 | Cash and cash equivalents at beginning of period | 7,925 | | | 9,627 | | |\n| 51 | Cash and cash equivalents at end of period | $ | 11,756 | | | $ | 6,869 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n6 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 6: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF CASH FLOWS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
Cash flows from operating activities<\/td> <\/td><\/td> <\/td><\/tr>
Net income<\/td>$<\/td>1,475 <\/td><\/td><\/td>$<\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td>1,463 <\/td><\/td><\/td>1,394 <\/td><\/td><\/tr>
Adjustments to reconcile net income attributable to Honeywell to net cash provided by (used for) operating activities<\/td><\/td><\/td><\/td><\/tr>
Depreciation<\/td>166 <\/td><\/td><\/td>161 <\/td><\/td><\/tr>
Amortization<\/td>125 <\/td><\/td><\/td>122 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Repositioning and other charges<\/td>93 <\/td><\/td><\/td>141 <\/td><\/td><\/tr>
Net payments for repositioning and other charges<\/td>(124)<\/td><\/td><\/td>(41)<\/td><\/td><\/tr>
NARCO Buyout payment<\/td>- <\/td><\/td><\/td>(1,325)<\/td><\/td><\/tr>
Pension and other postretirement income<\/td>(151)<\/td><\/td><\/td>(136)<\/td><\/td><\/tr>
Pension and other postretirement benefit payments<\/td>(8)<\/td><\/td><\/td>(15)<\/td><\/td><\/tr>
Stock compensation expense<\/td>53 <\/td><\/td><\/td>59 <\/td><\/td><\/tr>
Deferred income taxes<\/td>3 <\/td><\/td><\/td>225 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(163)<\/td><\/td><\/td>(350)<\/td><\/td><\/tr>
Changes in assets and liabilities, net of the effects of acquisitions and divestitures<\/td><\/td><\/td><\/td><\/tr>
Accounts receivable<\/td>53 <\/td><\/td><\/td>(422)<\/td><\/td><\/tr>
Inventories<\/td>(140)<\/td><\/td><\/td>(238)<\/td><\/td><\/tr>
Other current assets<\/td>64 <\/td><\/td><\/td>110 <\/td><\/td><\/tr>
Accounts payable<\/td>(381)<\/td><\/td><\/td>114 <\/td><\/td><\/tr>
Accrued liabilities<\/td>(605)<\/td><\/td><\/td>(583)<\/td><\/td><\/tr>
Net cash provided by (used for) operating activities<\/td>448 <\/td><\/td><\/td>(784)<\/td><\/td><\/tr>
Cash flows from investing activities<\/td><\/td><\/td><\/td><\/tr>
Capital expenditures<\/td>(233)<\/td><\/td><\/td>(193)<\/td><\/td><\/tr>
Proceeds from disposals of property, plant and equipment<\/td>- <\/td><\/td><\/td>11 <\/td><\/td><\/tr>
Increase in investments<\/td>(238)<\/td><\/td><\/td>(226)<\/td><\/td><\/tr>
Decrease in investments<\/td>155 <\/td><\/td><\/td>386 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Receipts (payments) from settlements of derivative contracts<\/td>43 <\/td><\/td><\/td>(7)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Net cash used for investing activities<\/td>(273)<\/td><\/td><\/td>(29)<\/td><\/td><\/tr>
Cash flows from financing activities<\/td><\/td><\/td><\/td><\/tr>
Proceeds from issuance of commercial paper and other short-term borrowings<\/td>2,223 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Payments of commercial paper and other short-term borrowings<\/td>(2,470)<\/td><\/td><\/td>(3,294)<\/td><\/td><\/tr>
Proceeds from issuance of common stock<\/td>144 <\/td><\/td><\/td>37 <\/td><\/td><\/tr>
Proceeds from issuance of long-term debt<\/td>5,710 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Payments of long-term debt<\/td>(573)<\/td><\/td><\/td>(1,363)<\/td><\/td><\/tr>
Repurchases of common stock<\/td>(671)<\/td><\/td><\/td>(699)<\/td><\/td><\/tr>
Cash dividends paid<\/td>(703)<\/td><\/td><\/td>(725)<\/td><\/td><\/tr>
Other<\/td>36 <\/td><\/td><\/td>(34)<\/td><\/td><\/tr>
Net cash provided by (used for) financing activities<\/td>3,696 <\/td><\/td><\/td>(1,973)<\/td><\/td><\/tr>
Effect of foreign exchange rate changes on cash and cash equivalents<\/td>(40)<\/td><\/td><\/td>28 <\/td><\/td><\/tr>
Net increase (decrease) in cash and cash equivalents<\/td>3,831 <\/td><\/td><\/td>(2,758)<\/td><\/td><\/tr>
Cash and cash equivalents at beginning of period<\/td>7,925 <\/td><\/td><\/td>9,627 <\/td><\/td><\/tr>
Cash and cash equivalents at end of period<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>6,869 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n6 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF CASH FLOWS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
Cash flows from operating activities<\/td> <\/td><\/td> <\/td><\/tr>
Net income<\/td>$<\/td>1,475 <\/td><\/td><\/td>$<\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td>1,463 <\/td><\/td><\/td>1,394 <\/td><\/td><\/tr>
Adjustments to reconcile net income attributable to Honeywell to net cash provided by (used for) operating activities<\/td><\/td><\/td><\/td><\/tr>
Depreciation<\/td>166 <\/td><\/td><\/td>161 <\/td><\/td><\/tr>
Amortization<\/td>125 <\/td><\/td><\/td>122 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Repositioning and other charges<\/td>93 <\/td><\/td><\/td>141 <\/td><\/td><\/tr>
Net payments for repositioning and other charges<\/td>(124)<\/td><\/td><\/td>(41)<\/td><\/td><\/tr>
NARCO Buyout payment<\/td>- <\/td><\/td><\/td>(1,325)<\/td><\/td><\/tr>
Pension and other postretirement income<\/td>(151)<\/td><\/td><\/td>(136)<\/td><\/td><\/tr>
Pension and other postretirement benefit payments<\/td>(8)<\/td><\/td><\/td>(15)<\/td><\/td><\/tr>
Stock compensation expense<\/td>53 <\/td><\/td><\/td>59 <\/td><\/td><\/tr>
Deferred income taxes<\/td>3 <\/td><\/td><\/td>225 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(163)<\/td><\/td><\/td>(350)<\/td><\/td><\/tr>
Changes in assets and liabilities, net of the effects of acquisitions and divestitures<\/td><\/td><\/td><\/td><\/tr>
Accounts receivable<\/td>53 <\/td><\/td><\/td>(422)<\/td><\/td><\/tr>
Inventories<\/td>(140)<\/td><\/td><\/td>(238)<\/td><\/td><\/tr>
Other current assets<\/td>64 <\/td><\/td><\/td>110 <\/td><\/td><\/tr>
Accounts payable<\/td>(381)<\/td><\/td><\/td>114 <\/td><\/td><\/tr>
Accrued liabilities<\/td>(605)<\/td><\/td><\/td>(583)<\/td><\/td><\/tr>
Net cash provided by (used for) operating activities<\/td>448 <\/td><\/td><\/td>(784)<\/td><\/td><\/tr>
Cash flows from investing activities<\/td><\/td><\/td><\/td><\/tr>
Capital expenditures<\/td>(233)<\/td><\/td><\/td>(193)<\/td><\/td><\/tr>
Proceeds from disposals of property, plant and equipment<\/td>- <\/td><\/td><\/td>11 <\/td><\/td><\/tr>
Increase in investments<\/td>(238)<\/td><\/td><\/td>(226)<\/td><\/td><\/tr>
Decrease in investments<\/td>155 <\/td><\/td><\/td>386 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Receipts (payments) from settlements of derivative contracts<\/td>43 <\/td><\/td><\/td>(7)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Net cash used for investing activities<\/td>(273)<\/td><\/td><\/td>(29)<\/td><\/td><\/tr>
Cash flows from financing activities<\/td><\/td><\/td><\/td><\/tr>
Proceeds from issuance of commercial paper and other short-term borrowings<\/td>2,223 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Payments of commercial paper and other short-term borrowings<\/td>(2,470)<\/td><\/td><\/td>(3,294)<\/td><\/td><\/tr>
Proceeds from issuance of common stock<\/td>144 <\/td><\/td><\/td>37 <\/td><\/td><\/tr>
Proceeds from issuance of long-term debt<\/td>5,710 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Payments of long-term debt<\/td>(573)<\/td><\/td><\/td>(1,363)<\/td><\/td><\/tr>
Repurchases of common stock<\/td>(671)<\/td><\/td><\/td>(699)<\/td><\/td><\/tr>
Cash dividends paid<\/td>(703)<\/td><\/td><\/td>(725)<\/td><\/td><\/tr>
Other<\/td>36 <\/td><\/td><\/td>(34)<\/td><\/td><\/tr>
Net cash provided by (used for) financing activities<\/td>3,696 <\/td><\/td><\/td>(1,973)<\/td><\/td><\/tr>
Effect of foreign exchange rate changes on cash and cash equivalents<\/td>(40)<\/td><\/td><\/td>28 <\/td><\/td><\/tr>
Net increase (decrease) in cash and cash equivalents<\/td>3,831 <\/td><\/td><\/td>(2,758)<\/td><\/td><\/tr>
Cash and cash equivalents at beginning of period<\/td>7,925 <\/td><\/td><\/td>9,627 <\/td><\/td><\/tr>
Cash and cash equivalents at end of period<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>6,869 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n6 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra115","Question":"How is the Quick Ratio calculated for Honeywell International Inc. as of March 31, 2024?","ground_truth_answer":"Method 1: The Quick Ratio for Honeywell International Inc. as of March 31, 2024, is determined as follows:\nQuick Ratio = (Current Assets - Inventory) \/ Current Liabilities\nCurrent Assets = $27,434 million\nInventory = $6,318 million\nCurrent Liabilities = $16,488 million\nQuick Ratio = (27,434 - 6,318) \/ 16,488 = 1.28\nMethod 2: \nThe Quick Ratio for Honeywell International Inc. as of March 31, 2024, is determined as follows:\nQuick Ratio = (Cash and Cash Equivalents + Short-term Investments + Accounts Receivable) \/ Current Liabilities\n\nValues:\n\nCash and Cash Equivalents = $11,756 million\nShort-term Investments = $249 million\nAccounts Receivable = $7,476 million\nCurrent Liabilities = $16,488 million\nQuick Ratio = (11,756 + 249 + 7,476) \/ 16,488\nQuick Ratio = 19,481 \/ 16,488 \u2248 1.18\n","question_type":"Ratio","page_number":5,"accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra116","Question":"Could you explain how the Working Capital for Honeywell International Inc. as of March 31, 2024, is calculated?","ground_truth_answer":"The Working Capital for Honeywell International Inc. as of March 31, 2024, is calculated as follows:\nWorking Capital = Current Assets - Current Liabilities\nCurrent Assets = $27,434 million\nCurrent Liabilities = $16,488 million\nWorking Capital = 27,434 - 16,488 = $10,946 million","question_type":"Ratio","page_number":5,"accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra117","Question":"What is Honeywell International Inc.\u2019s Operating Cash Flow Ratio for Q1 2024?","ground_truth_answer":"The Operating Cash Flow Ratio for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:\nOperating Cash Flow Ratio = Operating Cash Flow \/ Current Liabilities\nOperating Cash Flow = $448 million\nCurrent Liabilities = $16,488 million\nOperating Cash Flow Ratio = 448 \/ 16,488 = 0.03","question_type":"Ratio","page_number":"5, 6","accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 6: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF CASH FLOWS\n\n(Unaudited)\n| | | | | | | | |\n|---:|:----------------------------------------------------------------------------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | |\n| 2 | | 2024 | | 2023 | | | |\n| 3 | | (Dollars in millions) | | | | | |\n| 4 | Cash flows from operating activities | | | | | | |\n| 5 | Net income | $ | 1,475 | | | $ | 1,408 |\n| 6 | Less: Net income attributable to noncontrolling interest | 12 | | | 14 | | |\n| 7 | Net income attributable to Honeywell | 1,463 | | | 1,394 | | |\n| 8 | Adjustments to reconcile net income attributable to Honeywell to net cash provided by (used for) operating activities | | | | | | |\n| 9 | Depreciation | 166 | | | 161 | | |\n| 10 | Amortization | 125 | | | 122 | | |\n| 12 | Repositioning and other charges | 93 | | | 141 | | |\n| 13 | Net payments for repositioning and other charges | (124) | | | (41) | | |\n| 14 | NARCO Buyout payment | - | | | (1,325) | | |\n| 15 | Pension and other postretirement income | (151) | | | (136) | | |\n| 16 | Pension and other postretirement benefit payments | (8) | | | (15) | | |\n| 17 | Stock compensation expense | 53 | | | 59 | | |\n| 18 | Deferred income taxes | 3 | | | 225 | | |\n| 20 | Other | (163) | | | (350) | | |\n| 21 | Changes in assets and liabilities, net of the effects of acquisitions and divestitures | | | | | | |\n| 22 | Accounts receivable | 53 | | | (422) | | |\n| 23 | Inventories | (140) | | | (238) | | |\n| 24 | Other current assets | 64 | | | 110 | | |\n| 25 | Accounts payable | (381) | | | 114 | | |\n| 26 | Accrued liabilities | (605) | | | (583) | | |\n| 27 | Net cash provided by (used for) operating activities | 448 | | | (784) | | |\n| 28 | Cash flows from investing activities | | | | | | |\n| 29 | Capital expenditures | (233) | | | (193) | | |\n| 30 | Proceeds from disposals of property, plant and equipment | - | | | 11 | | |\n| 31 | Increase in investments | (238) | | | (226) | | |\n| 32 | Decrease in investments | 155 | | | 386 | | |\n| 34 | Receipts (payments) from settlements of derivative contracts | 43 | | | (7) | | |\n| 37 | Net cash used for investing activities | (273) | | | (29) | | |\n| 38 | Cash flows from financing activities | | | | | | |\n| 39 | Proceeds from issuance of commercial paper and other short-term borrowings | 2,223 | | | 4,105 | | |\n| 40 | Payments of commercial paper and other short-term borrowings | (2,470) | | | (3,294) | | |\n| 41 | Proceeds from issuance of common stock | 144 | | | 37 | | |\n| 42 | Proceeds from issuance of long-term debt | 5,710 | | | - | | |\n| 43 | Payments of long-term debt | (573) | | | (1,363) | | |\n| 44 | Repurchases of common stock | (671) | | | (699) | | |\n| 45 | Cash dividends paid | (703) | | | (725) | | |\n| 46 | Other | 36 | | | (34) | | |\n| 47 | Net cash provided by (used for) financing activities | 3,696 | | | (1,973) | | |\n| 48 | Effect of foreign exchange rate changes on cash and cash equivalents | (40) | | | 28 | | |\n| 49 | Net increase (decrease) in cash and cash equivalents | 3,831 | | | (2,758) | | |\n| 50 | Cash and cash equivalents at beginning of period | 7,925 | | | 9,627 | | |\n| 51 | Cash and cash equivalents at end of period | $ | 11,756 | | | $ | 6,869 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n6 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF CASH FLOWS\n\n(Unaudited)\n| | | | | | | | |\n|---:|:----------------------------------------------------------------------------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | |\n| 2 | | 2024 | | 2023 | | | |\n| 3 | | (Dollars in millions) | | | | | |\n| 4 | Cash flows from operating activities | | | | | | |\n| 5 | Net income | $ | 1,475 | | | $ | 1,408 |\n| 6 | Less: Net income attributable to noncontrolling interest | 12 | | | 14 | | |\n| 7 | Net income attributable to Honeywell | 1,463 | | | 1,394 | | |\n| 8 | Adjustments to reconcile net income attributable to Honeywell to net cash provided by (used for) operating activities | | | | | | |\n| 9 | Depreciation | 166 | | | 161 | | |\n| 10 | Amortization | 125 | | | 122 | | |\n| 12 | Repositioning and other charges | 93 | | | 141 | | |\n| 13 | Net payments for repositioning and other charges | (124) | | | (41) | | |\n| 14 | NARCO Buyout payment | - | | | (1,325) | | |\n| 15 | Pension and other postretirement income | (151) | | | (136) | | |\n| 16 | Pension and other postretirement benefit payments | (8) | | | (15) | | |\n| 17 | Stock compensation expense | 53 | | | 59 | | |\n| 18 | Deferred income taxes | 3 | | | 225 | | |\n| 20 | Other | (163) | | | (350) | | |\n| 21 | Changes in assets and liabilities, net of the effects of acquisitions and divestitures | | | | | | |\n| 22 | Accounts receivable | 53 | | | (422) | | |\n| 23 | Inventories | (140) | | | (238) | | |\n| 24 | Other current assets | 64 | | | 110 | | |\n| 25 | Accounts payable | (381) | | | 114 | | |\n| 26 | Accrued liabilities | (605) | | | (583) | | |\n| 27 | Net cash provided by (used for) operating activities | 448 | | | (784) | | |\n| 28 | Cash flows from investing activities | | | | | | |\n| 29 | Capital expenditures | (233) | | | (193) | | |\n| 30 | Proceeds from disposals of property, plant and equipment | - | | | 11 | | |\n| 31 | Increase in investments | (238) | | | (226) | | |\n| 32 | Decrease in investments | 155 | | | 386 | | |\n| 34 | Receipts (payments) from settlements of derivative contracts | 43 | | | (7) | | |\n| 37 | Net cash used for investing activities | (273) | | | (29) | | |\n| 38 | Cash flows from financing activities | | | | | | |\n| 39 | Proceeds from issuance of commercial paper and other short-term borrowings | 2,223 | | | 4,105 | | |\n| 40 | Payments of commercial paper and other short-term borrowings | (2,470) | | | (3,294) | | |\n| 41 | Proceeds from issuance of common stock | 144 | | | 37 | | |\n| 42 | Proceeds from issuance of long-term debt | 5,710 | | | - | | |\n| 43 | Payments of long-term debt | (573) | | | (1,363) | | |\n| 44 | Repurchases of common stock | (671) | | | (699) | | |\n| 45 | Cash dividends paid | (703) | | | (725) | | |\n| 46 | Other | 36 | | | (34) | | |\n| 47 | Net cash provided by (used for) financing activities | 3,696 | | | (1,973) | | |\n| 48 | Effect of foreign exchange rate changes on cash and cash equivalents | (40) | | | 28 | | |\n| 49 | Net increase (decrease) in cash and cash equivalents | 3,831 | | | (2,758) | | |\n| 50 | Cash and cash equivalents at beginning of period | 7,925 | | | 9,627 | | |\n| 51 | Cash and cash equivalents at end of period | $ | 11,756 | | | $ | 6,869 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n6 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 6: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF CASH FLOWS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
Cash flows from operating activities<\/td> <\/td><\/td> <\/td><\/tr>
Net income<\/td>$<\/td>1,475 <\/td><\/td><\/td>$<\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td>1,463 <\/td><\/td><\/td>1,394 <\/td><\/td><\/tr>
Adjustments to reconcile net income attributable to Honeywell to net cash provided by (used for) operating activities<\/td><\/td><\/td><\/td><\/tr>
Depreciation<\/td>166 <\/td><\/td><\/td>161 <\/td><\/td><\/tr>
Amortization<\/td>125 <\/td><\/td><\/td>122 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Repositioning and other charges<\/td>93 <\/td><\/td><\/td>141 <\/td><\/td><\/tr>
Net payments for repositioning and other charges<\/td>(124)<\/td><\/td><\/td>(41)<\/td><\/td><\/tr>
NARCO Buyout payment<\/td>- <\/td><\/td><\/td>(1,325)<\/td><\/td><\/tr>
Pension and other postretirement income<\/td>(151)<\/td><\/td><\/td>(136)<\/td><\/td><\/tr>
Pension and other postretirement benefit payments<\/td>(8)<\/td><\/td><\/td>(15)<\/td><\/td><\/tr>
Stock compensation expense<\/td>53 <\/td><\/td><\/td>59 <\/td><\/td><\/tr>
Deferred income taxes<\/td>3 <\/td><\/td><\/td>225 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(163)<\/td><\/td><\/td>(350)<\/td><\/td><\/tr>
Changes in assets and liabilities, net of the effects of acquisitions and divestitures<\/td><\/td><\/td><\/td><\/tr>
Accounts receivable<\/td>53 <\/td><\/td><\/td>(422)<\/td><\/td><\/tr>
Inventories<\/td>(140)<\/td><\/td><\/td>(238)<\/td><\/td><\/tr>
Other current assets<\/td>64 <\/td><\/td><\/td>110 <\/td><\/td><\/tr>
Accounts payable<\/td>(381)<\/td><\/td><\/td>114 <\/td><\/td><\/tr>
Accrued liabilities<\/td>(605)<\/td><\/td><\/td>(583)<\/td><\/td><\/tr>
Net cash provided by (used for) operating activities<\/td>448 <\/td><\/td><\/td>(784)<\/td><\/td><\/tr>
Cash flows from investing activities<\/td><\/td><\/td><\/td><\/tr>
Capital expenditures<\/td>(233)<\/td><\/td><\/td>(193)<\/td><\/td><\/tr>
Proceeds from disposals of property, plant and equipment<\/td>- <\/td><\/td><\/td>11 <\/td><\/td><\/tr>
Increase in investments<\/td>(238)<\/td><\/td><\/td>(226)<\/td><\/td><\/tr>
Decrease in investments<\/td>155 <\/td><\/td><\/td>386 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Receipts (payments) from settlements of derivative contracts<\/td>43 <\/td><\/td><\/td>(7)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Net cash used for investing activities<\/td>(273)<\/td><\/td><\/td>(29)<\/td><\/td><\/tr>
Cash flows from financing activities<\/td><\/td><\/td><\/td><\/tr>
Proceeds from issuance of commercial paper and other short-term borrowings<\/td>2,223 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Payments of commercial paper and other short-term borrowings<\/td>(2,470)<\/td><\/td><\/td>(3,294)<\/td><\/td><\/tr>
Proceeds from issuance of common stock<\/td>144 <\/td><\/td><\/td>37 <\/td><\/td><\/tr>
Proceeds from issuance of long-term debt<\/td>5,710 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Payments of long-term debt<\/td>(573)<\/td><\/td><\/td>(1,363)<\/td><\/td><\/tr>
Repurchases of common stock<\/td>(671)<\/td><\/td><\/td>(699)<\/td><\/td><\/tr>
Cash dividends paid<\/td>(703)<\/td><\/td><\/td>(725)<\/td><\/td><\/tr>
Other<\/td>36 <\/td><\/td><\/td>(34)<\/td><\/td><\/tr>
Net cash provided by (used for) financing activities<\/td>3,696 <\/td><\/td><\/td>(1,973)<\/td><\/td><\/tr>
Effect of foreign exchange rate changes on cash and cash equivalents<\/td>(40)<\/td><\/td><\/td>28 <\/td><\/td><\/tr>
Net increase (decrease) in cash and cash equivalents<\/td>3,831 <\/td><\/td><\/td>(2,758)<\/td><\/td><\/tr>
Cash and cash equivalents at beginning of period<\/td>7,925 <\/td><\/td><\/td>9,627 <\/td><\/td><\/tr>
Cash and cash equivalents at end of period<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>6,869 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n6 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF CASH FLOWS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
Cash flows from operating activities<\/td> <\/td><\/td> <\/td><\/tr>
Net income<\/td>$<\/td>1,475 <\/td><\/td><\/td>$<\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td>1,463 <\/td><\/td><\/td>1,394 <\/td><\/td><\/tr>
Adjustments to reconcile net income attributable to Honeywell to net cash provided by (used for) operating activities<\/td><\/td><\/td><\/td><\/tr>
Depreciation<\/td>166 <\/td><\/td><\/td>161 <\/td><\/td><\/tr>
Amortization<\/td>125 <\/td><\/td><\/td>122 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Repositioning and other charges<\/td>93 <\/td><\/td><\/td>141 <\/td><\/td><\/tr>
Net payments for repositioning and other charges<\/td>(124)<\/td><\/td><\/td>(41)<\/td><\/td><\/tr>
NARCO Buyout payment<\/td>- <\/td><\/td><\/td>(1,325)<\/td><\/td><\/tr>
Pension and other postretirement income<\/td>(151)<\/td><\/td><\/td>(136)<\/td><\/td><\/tr>
Pension and other postretirement benefit payments<\/td>(8)<\/td><\/td><\/td>(15)<\/td><\/td><\/tr>
Stock compensation expense<\/td>53 <\/td><\/td><\/td>59 <\/td><\/td><\/tr>
Deferred income taxes<\/td>3 <\/td><\/td><\/td>225 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Other<\/td>(163)<\/td><\/td><\/td>(350)<\/td><\/td><\/tr>
Changes in assets and liabilities, net of the effects of acquisitions and divestitures<\/td><\/td><\/td><\/td><\/tr>
Accounts receivable<\/td>53 <\/td><\/td><\/td>(422)<\/td><\/td><\/tr>
Inventories<\/td>(140)<\/td><\/td><\/td>(238)<\/td><\/td><\/tr>
Other current assets<\/td>64 <\/td><\/td><\/td>110 <\/td><\/td><\/tr>
Accounts payable<\/td>(381)<\/td><\/td><\/td>114 <\/td><\/td><\/tr>
Accrued liabilities<\/td>(605)<\/td><\/td><\/td>(583)<\/td><\/td><\/tr>
Net cash provided by (used for) operating activities<\/td>448 <\/td><\/td><\/td>(784)<\/td><\/td><\/tr>
Cash flows from investing activities<\/td><\/td><\/td><\/td><\/tr>
Capital expenditures<\/td>(233)<\/td><\/td><\/td>(193)<\/td><\/td><\/tr>
Proceeds from disposals of property, plant and equipment<\/td>- <\/td><\/td><\/td>11 <\/td><\/td><\/tr>
Increase in investments<\/td>(238)<\/td><\/td><\/td>(226)<\/td><\/td><\/tr>
Decrease in investments<\/td>155 <\/td><\/td><\/td>386 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Receipts (payments) from settlements of derivative contracts<\/td>43 <\/td><\/td><\/td>(7)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Net cash used for investing activities<\/td>(273)<\/td><\/td><\/td>(29)<\/td><\/td><\/tr>
Cash flows from financing activities<\/td><\/td><\/td><\/td><\/tr>
Proceeds from issuance of commercial paper and other short-term borrowings<\/td>2,223 <\/td><\/td><\/td>4,105 <\/td><\/td><\/tr>
Payments of commercial paper and other short-term borrowings<\/td>(2,470)<\/td><\/td><\/td>(3,294)<\/td><\/td><\/tr>
Proceeds from issuance of common stock<\/td>144 <\/td><\/td><\/td>37 <\/td><\/td><\/tr>
Proceeds from issuance of long-term debt<\/td>5,710 <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Payments of long-term debt<\/td>(573)<\/td><\/td><\/td>(1,363)<\/td><\/td><\/tr>
Repurchases of common stock<\/td>(671)<\/td><\/td><\/td>(699)<\/td><\/td><\/tr>
Cash dividends paid<\/td>(703)<\/td><\/td><\/td>(725)<\/td><\/td><\/tr>
Other<\/td>36 <\/td><\/td><\/td>(34)<\/td><\/td><\/tr>
Net cash provided by (used for) financing activities<\/td>3,696 <\/td><\/td><\/td>(1,973)<\/td><\/td><\/tr>
Effect of foreign exchange rate changes on cash and cash equivalents<\/td>(40)<\/td><\/td><\/td>28 <\/td><\/td><\/tr>
Net increase (decrease) in cash and cash equivalents<\/td>3,831 <\/td><\/td><\/td>(2,758)<\/td><\/td><\/tr>
Cash and cash equivalents at beginning of period<\/td>7,925 <\/td><\/td><\/td>9,627 <\/td><\/td><\/tr>
Cash and cash equivalents at end of period<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>6,869 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n6 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra118","Question":"What is the Inventory Turnover for Honeywell International Inc. for the three months ending March 31, 2024?","ground_truth_answer":"The Inventory Turnover for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:\nInventory Turnover = Cost of Goods Sold \/ Average Inventory\nCost of Goods Sold = $5,583 million\nAverage Inventory = (Inventory at the beginning of the period + Inventory at the end of the period) \/ 2\nAverage Inventory = ($6,178 million + $6,318 million) \/ 2 = $6,248 million\nInventory Turnover = 5,583 \/ 6,248 = 0.89","question_type":"Ratio","page_number":"3, 5","accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra119","Question":"How is Honeywell International Inc.\u2019s Days Sales of Inventory (DSI) for Q1 2024 calculated?","ground_truth_answer":"The Days Sales of Inventory (DSI) for Honeywell International Inc. for the three months ended March 31, 2024, is determined as follows:\nDSI = (Average Inventory \/ Cost of Goods Sold) * Number of Days\nAverage Inventory = $6,248 million\nCost of Goods Sold = $5,583 million\nNumber of Days = 90 (assuming a 3-month period)\nDSI = (6,248 \/ 5,583) * 90 = 100.7 days","question_type":"Ratio","page_number":"7, 9","accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 7: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF SHAREOWNERS' EQUITY\n\n(Unaudited)\n| | | | | | | | | | | | | | | |\n|---:|:--------------------------------------------------------|:----------------------------------------|:-----|:-----|:-------|:--------|:---|:--------|:---------|:---|:--------|:--------|:---|:---------|\n| 1 | | Three Months Ended March 31, | | | | | | | | | | | | |\n| 2 | | | 2024 | 2023 | | | | | | | | | | |\n| 3 | | | | | Shares | | $ | | Shares | $ | | | | |\n| 4 | | (In millions, except per share amounts) | | | | | | | | | | | | |\n| 5 | Common stock, par value | | | | | 957.6 | | | 958 | | 957.6 | | | 958 |\n| 6 | Additional paid-in capital | | | | | | | | | | | | | |\n| 7 | Beginning balance | | | | | | | 9,062 | | | | 8,564 | | |\n| 8 | Issued for employee savings and option plans | | | | | | | 202 | | | | 151 | | |\n| 9 | Stock compensation expense | | | | | | | 53 | | | | 59 | | |\n| 10 | Impact of Quantinuum contribution | | | | | | | 36 | | | | - | | |\n| 12 | Ending balance | | | | | | | 9,353 | | | | 8,774 | | |\n| 13 | Treasury stock | | | | | | | | | | | | | |\n| 14 | Beginning balance | | | | | (305.8) | | | (38,008) | | (290.0) | | | (34,443) |\n| 15 | Reacquired stock or repurchases of common stock | | | | | (3.4) | | | (671) | | (3.5) | | | (699) |\n| 16 | Issued for employee savings and option plans | | | | | 2.8 | | | 135 | | 1.6 | | | 70 |\n| 17 | Ending balance | | | | | (306.4) | | | (38,544) | | (291.9) | | | (35,072) |\n| 18 | Retained earnings | | | | | | | | | | | | | |\n| 19 | Beginning balance | | | | | | | 47,979 | | | | 45,093 | | |\n| 21 | Net income attributable to Honeywell | | | | | | | 1,463 | | | | 1,394 | | |\n| 22 | Dividends on common stock | | | | | | | (707) | | | | (690) | | |\n| 25 | Ending balance | | | | | | | 48,735 | | | | 45,797 | | |\n| 26 | Accumulated other comprehensive income (loss) | | | | | | | | | | | | | |\n| 27 | Beginning balance | | | | | | | (4,135) | | | | (3,475) | | |\n| 28 | Foreign exchange translation adjustment | | | | | | | 78 | | | | (59) | | |\n| 29 | Pension and other postretirement benefit adjustments | | | | | | | (5) | | | | (12) | | |\n| 30 | Changes in fair value of available for sale investments | | | | | | | - | | | | (6) | | |\n| 31 | Changes in fair value of cash flow hedges | | | | | | | 14 | | | | 14 | | |\n| 32 | Ending balance | | | | | | | (4,048) | | | | (3,538) | | |\n| 33 | Noncontrolling interest | | | | | | | | | | | | | |\n| 34 | Beginning balance | | | | | | | 578 | | | | 622 | | |\n| 36 | Net income attributable to noncontrolling interest | | | | | | | 12 | | | | 14 | | |\n| 37 | Foreign exchange translation adjustment | | | | | | | (24) | | | | 1 | | |\n| 38 | Dividends paid | | | | | | | (4) | | | | (41) | | |\n| 39 | Contributions from noncontrolling interest holders | | | | | | | 29 | | | | - | | |\n| 40 | Ending balance | | | | | | | 591 | | | | 596 | | |\n| 41 | Total shareowners' equity | | | | | 651.2 | | | 17,045 | | 665.7 | | | 17,515 |\n| 42 | Cash dividends per share of common stock | | | | | | | $ | 1.08 | | | | $ | 1.03 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n7 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 9: \nTABLE OF CONTENTS\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\n\n(Unaudited)\n(Dollars in tables in millions, except per share amounts)\n\nIn September 2022, the FASB issued ASU 2022-04, Liabilities-Supplier Finance Programs (Topic 405): Disclosure of Supplier Finance Program Obligations, to enhance the transparency of supplier finance programs. The new standard requires annual disclosure of the key terms of the program, a description of where in the financial statements amounts outstanding under the program are presented, a rollforward of such amounts, and interim disclosure of amounts outstanding as of the end of each period. The guidance does not affect recognition, measurement, or financial statement presentation of supplier finance programs. The ASU is effective on January 1, 2023, except for the rollforward, which is effective on January 1, 2024, for annual disclosures. The Company adopted this guidance on January 1, 2023, with the exception of the rollforward adopted on January 1, 2024. The adoption of this standard does not have a material impact on the Company's Consolidated Financial Statements.\nIn March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by the transition away from reference rates expected to be discontinued to alternative reference rates. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope, to expand the scope of this guidance to include derivatives. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into on or before December 31, 2022. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, which extends the period of time entities can utilize the reference rate reform relief guidance under ASU 2020-04 from December 31, 2022, to December 31, 2024. The Company will apply the guidance to impacted transactions during the transition period. The adoption of this standard does not have a material impact on the Company's Consolidated Financial Statements.\n\nNOTE 3. ACQUISITIONS AND DIVESTITURES\n\n\nACQUISITIONS\n\nOn March 27, 2024, the Company announced its intention to acquire Civitanavi Systems S.p.A. in an all-cash transaction for approximately \u20ac200 million. The transaction is not subject to any financing condition but is subject to regulatory review and approval, the tender into the offer of at least 95% of Civitanavi Systems S.p.A.'s outstanding shares, and customary closing conditions. The transaction is expected to close by the end of the third quarter of 2024 and the business will be reported within the Aerospace Technologies reportable business segment.\nOn December 8, 2023, the Company agreed to acquire Carrier Global Corporation's Global Access Solutions business in an all-cash transaction for $5.0 billion. The transaction is subject to regulatory review and approval and customary closing conditions. The transaction is expected to close by the end of the third quarter of 2024, and the business will be reported within the Building Automation reportable business segment.\nOn August 25, 2023, the Company acquired 100% of the outstanding equity interests of SCADAfence, a provider of operational technology and Internet of Things cybersecurity solutions for monitoring large scale networks, for total consideration of $52 million, net of cash acquired. The business is included in the Industrial Automation reportable business segment. The assets and liabilities acquired with SCADAfence are included in the Consolidated Balance Sheet as of March 31, 2024, including $17 million of intangible assets and $42 million of goodwill, which is not deductible for tax purposes. The purchase accounting is subject to final adjustment, primarily for the value of intangible assets, amounts allocated to goodwill, and tax balances.\nOn June 30, 2023, the Company acquired 100% of the outstanding equity interests of Compressor Controls Corporation, a turbomachinery services and controls company based in the United States, for total cash consideration of $673 million, net of cash acquired. The business is included in the Industrial Automation reportable business segment. The assets and liabilities acquired with Compressor Controls Corporation are included in the Consolidated Balance Sheet as of March 31, 2024, including $282 million of intangible assets and $350 million allocated to goodwill, which is deductible for tax purposes. The identifiable intangible assets primarily include customer relationships amortized over an estimated life of 15 years using an excess earnings amortization method. The purchase accounting is subject to final adjustment, primarily for the valuation of intangible assets, amounts allocated to goodwill, and tax balances.\n\nDIVESTITURES\n\nFor the three months ended March 31, 2024, there were no significant divestitures that closed individually or in the aggregate.\n\n9 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF SHAREOWNERS' EQUITY\n\n(Unaudited)\n| | | | | | | | | | | | | | | |\n|---:|:--------------------------------------------------------|:----------------------------------------|:-----|:-----|:-------|:--------|:---|:--------|:---------|:---|:--------|:--------|:---|:---------|\n| 1 | | Three Months Ended March 31, | | | | | | | | | | | | |\n| 2 | | | 2024 | 2023 | | | | | | | | | | |\n| 3 | | | | | Shares | | $ | | Shares | $ | | | | |\n| 4 | | (In millions, except per share amounts) | | | | | | | | | | | | |\n| 5 | Common stock, par value | | | | | 957.6 | | | 958 | | 957.6 | | | 958 |\n| 6 | Additional paid-in capital | | | | | | | | | | | | | |\n| 7 | Beginning balance | | | | | | | 9,062 | | | | 8,564 | | |\n| 8 | Issued for employee savings and option plans | | | | | | | 202 | | | | 151 | | |\n| 9 | Stock compensation expense | | | | | | | 53 | | | | 59 | | |\n| 10 | Impact of Quantinuum contribution | | | | | | | 36 | | | | - | | |\n| 12 | Ending balance | | | | | | | 9,353 | | | | 8,774 | | |\n| 13 | Treasury stock | | | | | | | | | | | | | |\n| 14 | Beginning balance | | | | | (305.8) | | | (38,008) | | (290.0) | | | (34,443) |\n| 15 | Reacquired stock or repurchases of common stock | | | | | (3.4) | | | (671) | | (3.5) | | | (699) |\n| 16 | Issued for employee savings and option plans | | | | | 2.8 | | | 135 | | 1.6 | | | 70 |\n| 17 | Ending balance | | | | | (306.4) | | | (38,544) | | (291.9) | | | (35,072) |\n| 18 | Retained earnings | | | | | | | | | | | | | |\n| 19 | Beginning balance | | | | | | | 47,979 | | | | 45,093 | | |\n| 21 | Net income attributable to Honeywell | | | | | | | 1,463 | | | | 1,394 | | |\n| 22 | Dividends on common stock | | | | | | | (707) | | | | (690) | | |\n| 25 | Ending balance | | | | | | | 48,735 | | | | 45,797 | | |\n| 26 | Accumulated other comprehensive income (loss) | | | | | | | | | | | | | |\n| 27 | Beginning balance | | | | | | | (4,135) | | | | (3,475) | | |\n| 28 | Foreign exchange translation adjustment | | | | | | | 78 | | | | (59) | | |\n| 29 | Pension and other postretirement benefit adjustments | | | | | | | (5) | | | | (12) | | |\n| 30 | Changes in fair value of available for sale investments | | | | | | | - | | | | (6) | | |\n| 31 | Changes in fair value of cash flow hedges | | | | | | | 14 | | | | 14 | | |\n| 32 | Ending balance | | | | | | | (4,048) | | | | (3,538) | | |\n| 33 | Noncontrolling interest | | | | | | | | | | | | | |\n| 34 | Beginning balance | | | | | | | 578 | | | | 622 | | |\n| 36 | Net income attributable to noncontrolling interest | | | | | | | 12 | | | | 14 | | |\n| 37 | Foreign exchange translation adjustment | | | | | | | (24) | | | | 1 | | |\n| 38 | Dividends paid | | | | | | | (4) | | | | (41) | | |\n| 39 | Contributions from noncontrolling interest holders | | | | | | | 29 | | | | - | | |\n| 40 | Ending balance | | | | | | | 591 | | | | 596 | | |\n| 41 | Total shareowners' equity | | | | | 651.2 | | | 17,045 | | 665.7 | | | 17,515 |\n| 42 | Cash dividends per share of common stock | | | | | | | $ | 1.08 | | | | $ | 1.03 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n7 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\n\n(Unaudited)\n(Dollars in tables in millions, except per share amounts)\n\nIn September 2022, the FASB issued ASU 2022-04, Liabilities-Supplier Finance Programs (Topic 405): Disclosure of Supplier Finance Program Obligations, to enhance the transparency of supplier finance programs. The new standard requires annual disclosure of the key terms of the program, a description of where in the financial statements amounts outstanding under the program are presented, a rollforward of such amounts, and interim disclosure of amounts outstanding as of the end of each period. The guidance does not affect recognition, measurement, or financial statement presentation of supplier finance programs. The ASU is effective on January 1, 2023, except for the rollforward, which is effective on January 1, 2024, for annual disclosures. The Company adopted this guidance on January 1, 2023, with the exception of the rollforward adopted on January 1, 2024. The adoption of this standard does not have a material impact on the Company's Consolidated Financial Statements.\nIn March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by the transition away from reference rates expected to be discontinued to alternative reference rates. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope, to expand the scope of this guidance to include derivatives. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into on or before December 31, 2022. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, which extends the period of time entities can utilize the reference rate reform relief guidance under ASU 2020-04 from December 31, 2022, to December 31, 2024. The Company will apply the guidance to impacted transactions during the transition period. The adoption of this standard does not have a material impact on the Company's Consolidated Financial Statements.\n\nNOTE 3. ACQUISITIONS AND DIVESTITURES\n\n\nACQUISITIONS\n\nOn March 27, 2024, the Company announced its intention to acquire Civitanavi Systems S.p.A. in an all-cash transaction for approximately \u20ac200 million. The transaction is not subject to any financing condition but is subject to regulatory review and approval, the tender into the offer of at least 95% of Civitanavi Systems S.p.A.'s outstanding shares, and customary closing conditions. The transaction is expected to close by the end of the third quarter of 2024 and the business will be reported within the Aerospace Technologies reportable business segment.\nOn December 8, 2023, the Company agreed to acquire Carrier Global Corporation's Global Access Solutions business in an all-cash transaction for $5.0 billion. The transaction is subject to regulatory review and approval and customary closing conditions. The transaction is expected to close by the end of the third quarter of 2024, and the business will be reported within the Building Automation reportable business segment.\nOn August 25, 2023, the Company acquired 100% of the outstanding equity interests of SCADAfence, a provider of operational technology and Internet of Things cybersecurity solutions for monitoring large scale networks, for total consideration of $52 million, net of cash acquired. The business is included in the Industrial Automation reportable business segment. The assets and liabilities acquired with SCADAfence are included in the Consolidated Balance Sheet as of March 31, 2024, including $17 million of intangible assets and $42 million of goodwill, which is not deductible for tax purposes. The purchase accounting is subject to final adjustment, primarily for the value of intangible assets, amounts allocated to goodwill, and tax balances.\nOn June 30, 2023, the Company acquired 100% of the outstanding equity interests of Compressor Controls Corporation, a turbomachinery services and controls company based in the United States, for total cash consideration of $673 million, net of cash acquired. The business is included in the Industrial Automation reportable business segment. The assets and liabilities acquired with Compressor Controls Corporation are included in the Consolidated Balance Sheet as of March 31, 2024, including $282 million of intangible assets and $350 million allocated to goodwill, which is deductible for tax purposes. The identifiable intangible assets primarily include customer relationships amortized over an estimated life of 15 years using an excess earnings amortization method. The purchase accounting is subject to final adjustment, primarily for the valuation of intangible assets, amounts allocated to goodwill, and tax balances.\n\nDIVESTITURES\n\nFor the three months ended March 31, 2024, there were no significant divestitures that closed individually or in the aggregate.\n\n9 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 7: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF SHAREOWNERS' EQUITY\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>Shares<\/td><\/td>$<\/td><\/td>Shares<\/td><\/td>$<\/td><\/tr>
<\/td><\/td><\/td>(In millions, except per share amounts)<\/td><\/tr>
Common stock, par value<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>957.6 <\/td><\/td><\/td>958 <\/td><\/td><\/td>957.6 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
Additional paid-in capital<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>9,062 <\/td><\/td><\/td><\/td><\/td>8,564 <\/td><\/td><\/tr>
Issued for employee savings and option plans<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>202 <\/td><\/td><\/td><\/td><\/td>151 <\/td><\/td><\/tr>
Stock compensation expense <\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>53 <\/td><\/td><\/td><\/td><\/td>59 <\/td><\/td><\/tr>
Impact of Quantinuum contribution<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>36 <\/td><\/td><\/td><\/td><\/td>- <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Ending balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>9,353 <\/td><\/td><\/td><\/td><\/td>8,774 <\/td><\/td><\/tr>
Treasury stock<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(305.8)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/td>(290.0)<\/td><\/td><\/td>(34,443)<\/td><\/td><\/tr>
Reacquired stock or repurchases of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(3.4)<\/td><\/td><\/td>(671)<\/td><\/td><\/td>(3.5)<\/td><\/td><\/td>(699)<\/td><\/td><\/tr>
Issued for employee savings and option plans<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>2.8 <\/td><\/td><\/td>135 <\/td><\/td><\/td>1.6 <\/td><\/td><\/td>70 <\/td><\/td><\/tr>
Ending balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(306.4)<\/td><\/td><\/td>(38,544)<\/td><\/td><\/td>(291.9)<\/td><\/td><\/td>(35,072)<\/td><\/td><\/tr>
Retained earnings<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>47,979 <\/td><\/td><\/td><\/td><\/td>45,093 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>1,463 <\/td><\/td><\/td><\/td><\/td>1,394 <\/td><\/td><\/tr>
Dividends on common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(707)<\/td><\/td><\/td><\/td><\/td>(690)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Ending balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>48,735 <\/td><\/td><\/td><\/td><\/td>45,797 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(4,135)<\/td><\/td><\/td><\/td><\/td>(3,475)<\/td><\/td><\/tr>
Foreign exchange translation adjustment<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>78 <\/td><\/td><\/td><\/td><\/td>(59)<\/td><\/td><\/tr>
Pension and other postretirement benefit adjustments<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(5)<\/td><\/td><\/td><\/td><\/td>(12)<\/td><\/td><\/tr>
Changes in fair value of available for sale investments<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>- <\/td><\/td><\/td><\/td><\/td>(6)<\/td><\/td><\/tr>
Changes in fair value of cash flow hedges<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>14 <\/td><\/td><\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Ending balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(4,048)<\/td><\/td><\/td><\/td><\/td>(3,538)<\/td><\/td><\/tr>
Noncontrolling interest<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>578 <\/td><\/td><\/td><\/td><\/td>622 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Foreign exchange translation adjustment<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(24)<\/td><\/td><\/td><\/td><\/td>1 <\/td><\/td><\/tr>
Dividends paid<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(4)<\/td><\/td><\/td><\/td><\/td>(41)<\/td><\/td><\/tr>
Contributions from noncontrolling interest holders<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td>- <\/td><\/td><\/tr>
Ending balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>591 <\/td><\/td><\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Total shareowners' equity<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>651.2 <\/td><\/td><\/td>17,045 <\/td><\/td><\/td>665.7 <\/td><\/td><\/td>17,515 <\/td><\/td><\/tr>
Cash dividends per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>1.08 <\/td><\/td><\/td><\/td><\/td>$<\/td>1.03 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n7 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 9: \nTABLE OF CONTENTS\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\n\n(Unaudited)\n(Dollars in tables in millions, except per share amounts)\n\nIn September 2022, the FASB issued ASU 2022-04, Liabilities-Supplier Finance Programs (Topic 405): Disclosure of Supplier Finance Program Obligations, to enhance the transparency of supplier finance programs. The new standard requires annual disclosure of the key terms of the program, a description of where in the financial statements amounts outstanding under the program are presented, a rollforward of such amounts, and interim disclosure of amounts outstanding as of the end of each period. The guidance does not affect recognition, measurement, or financial statement presentation of supplier finance programs. The ASU is effective on January 1, 2023, except for the rollforward, which is effective on January 1, 2024, for annual disclosures. The Company adopted this guidance on January 1, 2023, with the exception of the rollforward adopted on January 1, 2024. The adoption of this standard does not have a material impact on the Company's Consolidated Financial Statements.\nIn March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by the transition away from reference rates expected to be discontinued to alternative reference rates. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope, to expand the scope of this guidance to include derivatives. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into on or before December 31, 2022. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, which extends the period of time entities can utilize the reference rate reform relief guidance under ASU 2020-04 from December 31, 2022, to December 31, 2024. The Company will apply the guidance to impacted transactions during the transition period. The adoption of this standard does not have a material impact on the Company's Consolidated Financial Statements.\n\nNOTE 3. ACQUISITIONS AND DIVESTITURES\n\n\nACQUISITIONS\n\nOn March 27, 2024, the Company announced its intention to acquire Civitanavi Systems S.p.A. in an all-cash transaction for approximately \u20ac200 million. The transaction is not subject to any financing condition but is subject to regulatory review and approval, the tender into the offer of at least 95% of Civitanavi Systems S.p.A.'s outstanding shares, and customary closing conditions. The transaction is expected to close by the end of the third quarter of 2024 and the business will be reported within the Aerospace Technologies reportable business segment.\nOn December 8, 2023, the Company agreed to acquire Carrier Global Corporation's Global Access Solutions business in an all-cash transaction for $5.0 billion. The transaction is subject to regulatory review and approval and customary closing conditions. The transaction is expected to close by the end of the third quarter of 2024, and the business will be reported within the Building Automation reportable business segment.\nOn August 25, 2023, the Company acquired 100% of the outstanding equity interests of SCADAfence, a provider of operational technology and Internet of Things cybersecurity solutions for monitoring large scale networks, for total consideration of $52 million, net of cash acquired. The business is included in the Industrial Automation reportable business segment. The assets and liabilities acquired with SCADAfence are included in the Consolidated Balance Sheet as of March 31, 2024, including $17 million of intangible assets and $42 million of goodwill, which is not deductible for tax purposes. The purchase accounting is subject to final adjustment, primarily for the value of intangible assets, amounts allocated to goodwill, and tax balances.\nOn June 30, 2023, the Company acquired 100% of the outstanding equity interests of Compressor Controls Corporation, a turbomachinery services and controls company based in the United States, for total cash consideration of $673 million, net of cash acquired. The business is included in the Industrial Automation reportable business segment. The assets and liabilities acquired with Compressor Controls Corporation are included in the Consolidated Balance Sheet as of March 31, 2024, including $282 million of intangible assets and $350 million allocated to goodwill, which is deductible for tax purposes. The identifiable intangible assets primarily include customer relationships amortized over an estimated life of 15 years using an excess earnings amortization method. The purchase accounting is subject to final adjustment, primarily for the valuation of intangible assets, amounts allocated to goodwill, and tax balances.\n\nDIVESTITURES\n\nFor the three months ended March 31, 2024, there were no significant divestitures that closed individually or in the aggregate.\n\n9 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF SHAREOWNERS' EQUITY\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>Shares<\/td><\/td>$<\/td><\/td>Shares<\/td><\/td>$<\/td><\/tr>
<\/td><\/td><\/td>(In millions, except per share amounts)<\/td><\/tr>
Common stock, par value<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>957.6 <\/td><\/td><\/td>958 <\/td><\/td><\/td>957.6 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
Additional paid-in capital<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>9,062 <\/td><\/td><\/td><\/td><\/td>8,564 <\/td><\/td><\/tr>
Issued for employee savings and option plans<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>202 <\/td><\/td><\/td><\/td><\/td>151 <\/td><\/td><\/tr>
Stock compensation expense <\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>53 <\/td><\/td><\/td><\/td><\/td>59 <\/td><\/td><\/tr>
Impact of Quantinuum contribution<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>36 <\/td><\/td><\/td><\/td><\/td>- <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Ending balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>9,353 <\/td><\/td><\/td><\/td><\/td>8,774 <\/td><\/td><\/tr>
Treasury stock<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(305.8)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/td>(290.0)<\/td><\/td><\/td>(34,443)<\/td><\/td><\/tr>
Reacquired stock or repurchases of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(3.4)<\/td><\/td><\/td>(671)<\/td><\/td><\/td>(3.5)<\/td><\/td><\/td>(699)<\/td><\/td><\/tr>
Issued for employee savings and option plans<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>2.8 <\/td><\/td><\/td>135 <\/td><\/td><\/td>1.6 <\/td><\/td><\/td>70 <\/td><\/td><\/tr>
Ending balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(306.4)<\/td><\/td><\/td>(38,544)<\/td><\/td><\/td>(291.9)<\/td><\/td><\/td>(35,072)<\/td><\/td><\/tr>
Retained earnings<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>47,979 <\/td><\/td><\/td><\/td><\/td>45,093 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>1,463 <\/td><\/td><\/td><\/td><\/td>1,394 <\/td><\/td><\/tr>
Dividends on common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(707)<\/td><\/td><\/td><\/td><\/td>(690)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Ending balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>48,735 <\/td><\/td><\/td><\/td><\/td>45,797 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(4,135)<\/td><\/td><\/td><\/td><\/td>(3,475)<\/td><\/td><\/tr>
Foreign exchange translation adjustment<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>78 <\/td><\/td><\/td><\/td><\/td>(59)<\/td><\/td><\/tr>
Pension and other postretirement benefit adjustments<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(5)<\/td><\/td><\/td><\/td><\/td>(12)<\/td><\/td><\/tr>
Changes in fair value of available for sale investments<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>- <\/td><\/td><\/td><\/td><\/td>(6)<\/td><\/td><\/tr>
Changes in fair value of cash flow hedges<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>14 <\/td><\/td><\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Ending balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(4,048)<\/td><\/td><\/td><\/td><\/td>(3,538)<\/td><\/td><\/tr>
Noncontrolling interest<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>578 <\/td><\/td><\/td><\/td><\/td>622 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Foreign exchange translation adjustment<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(24)<\/td><\/td><\/td><\/td><\/td>1 <\/td><\/td><\/tr>
Dividends paid<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>(4)<\/td><\/td><\/td><\/td><\/td>(41)<\/td><\/td><\/tr>
Contributions from noncontrolling interest holders<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td>- <\/td><\/td><\/tr>
Ending balance<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>591 <\/td><\/td><\/td><\/td><\/td>596 <\/td><\/td><\/tr>
Total shareowners' equity<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>651.2 <\/td><\/td><\/td>17,045 <\/td><\/td><\/td>665.7 <\/td><\/td><\/td>17,515 <\/td><\/td><\/tr>
Cash dividends per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>$<\/td>1.08 <\/td><\/td><\/td><\/td><\/td>$<\/td>1.03 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n7 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\n\n(Unaudited)\n(Dollars in tables in millions, except per share amounts)\n\nIn September 2022, the FASB issued ASU 2022-04, Liabilities-Supplier Finance Programs (Topic 405): Disclosure of Supplier Finance Program Obligations, to enhance the transparency of supplier finance programs. The new standard requires annual disclosure of the key terms of the program, a description of where in the financial statements amounts outstanding under the program are presented, a rollforward of such amounts, and interim disclosure of amounts outstanding as of the end of each period. The guidance does not affect recognition, measurement, or financial statement presentation of supplier finance programs. The ASU is effective on January 1, 2023, except for the rollforward, which is effective on January 1, 2024, for annual disclosures. The Company adopted this guidance on January 1, 2023, with the exception of the rollforward adopted on January 1, 2024. The adoption of this standard does not have a material impact on the Company's Consolidated Financial Statements.\nIn March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by the transition away from reference rates expected to be discontinued to alternative reference rates. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope, to expand the scope of this guidance to include derivatives. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into on or before December 31, 2022. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, which extends the period of time entities can utilize the reference rate reform relief guidance under ASU 2020-04 from December 31, 2022, to December 31, 2024. The Company will apply the guidance to impacted transactions during the transition period. The adoption of this standard does not have a material impact on the Company's Consolidated Financial Statements.\n\nNOTE 3. ACQUISITIONS AND DIVESTITURES\n\n\nACQUISITIONS\n\nOn March 27, 2024, the Company announced its intention to acquire Civitanavi Systems S.p.A. in an all-cash transaction for approximately \u20ac200 million. The transaction is not subject to any financing condition but is subject to regulatory review and approval, the tender into the offer of at least 95% of Civitanavi Systems S.p.A.'s outstanding shares, and customary closing conditions. The transaction is expected to close by the end of the third quarter of 2024 and the business will be reported within the Aerospace Technologies reportable business segment.\nOn December 8, 2023, the Company agreed to acquire Carrier Global Corporation's Global Access Solutions business in an all-cash transaction for $5.0 billion. The transaction is subject to regulatory review and approval and customary closing conditions. The transaction is expected to close by the end of the third quarter of 2024, and the business will be reported within the Building Automation reportable business segment.\nOn August 25, 2023, the Company acquired 100% of the outstanding equity interests of SCADAfence, a provider of operational technology and Internet of Things cybersecurity solutions for monitoring large scale networks, for total consideration of $52 million, net of cash acquired. The business is included in the Industrial Automation reportable business segment. The assets and liabilities acquired with SCADAfence are included in the Consolidated Balance Sheet as of March 31, 2024, including $17 million of intangible assets and $42 million of goodwill, which is not deductible for tax purposes. The purchase accounting is subject to final adjustment, primarily for the value of intangible assets, amounts allocated to goodwill, and tax balances.\nOn June 30, 2023, the Company acquired 100% of the outstanding equity interests of Compressor Controls Corporation, a turbomachinery services and controls company based in the United States, for total cash consideration of $673 million, net of cash acquired. The business is included in the Industrial Automation reportable business segment. The assets and liabilities acquired with Compressor Controls Corporation are included in the Consolidated Balance Sheet as of March 31, 2024, including $282 million of intangible assets and $350 million allocated to goodwill, which is deductible for tax purposes. The identifiable intangible assets primarily include customer relationships amortized over an estimated life of 15 years using an excess earnings amortization method. The purchase accounting is subject to final adjustment, primarily for the valuation of intangible assets, amounts allocated to goodwill, and tax balances.\n\nDIVESTITURES\n\nFor the three months ended March 31, 2024, there were no significant divestitures that closed individually or in the aggregate.\n\n9 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra120","Question":"What was Honeywell International Inc.\u2019s Receivables Turnover for Q1 2024?","ground_truth_answer":"The Receivables Turnover for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:\nReceivables Turnover = Net Credit Sales \/ Average Accounts Receivable\nNet Credit Sales = $9,105 million\nAverage Accounts Receivable = (Accounts Receivable at the beginning of the period + Accounts Receivable at the end of the period) \/ 2\nAverage Accounts Receivable = ($7,530 million + $7,476 million) \/ 2 = $7,503 million\nReceivables Turnover = 9,105 \/ 7,503 = 1.21","question_type":"Ratio","page_number":"3, 5","accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra121","Question":"How is the Days Payable Outstanding (DPO) calculated for Honeywell International Inc. for Q1 2024?","ground_truth_answer":"Method 1: The Days Payable Outstanding (DPO) for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:\nDPO = (Accounts Payable \/ Cost of Goods Sold) * Number of Days\nAccounts Payable = $6,468 million\nCost of Goods Sold = $5,583 million\nNumber of Days = 90 (assuming a 3-month period)\nDPO = (6,468 \/ 5,583) * 90 = 104.3 days\nMethod 2: The Days Payable Outstanding (DPO) for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:\nDPO = (Average Accounts Payable \/ Cost of Goods Sold) * Number of Days\n\nStep 1: Calculate Average Accounts Payable\n\nAccounts Payable at the beginning of the period (December 31, 2023): $6,849 million\nAccounts Payable at the end of the period (March 31, 2024): $6,468 million\nAverage Accounts Payable = ($6,849 + $6,468) \/ 2 = $6,658.5 million\nStep 2: Calculate Cost of Goods Sold (COGS)\n\nCost of Products Sold for Q1 2024: $4,035 million\nCost of Services Sold for Q1 2024: $1,548 million\nTotal COGS = $4,035 million + $1,548 million = $5,583 million\nStep 3: Calculate Days Payable Outstanding (DPO)\nNumber of Days = 90\nDPO = (6,658.5 \/ 5,583) * 90 = 1.192 * 90 \u2248 107.28 days","question_type":"Ratio","page_number":"3, 5","accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra122","Question":"What is the Asset Turnover Ratio for Honeywell International Inc. over the three months ending March 31, 2024?","ground_truth_answer":"The Asset Turnover Ratio for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:\nAsset Turnover Ratio = Net Sales \/ Average Total Assets\nNet Sales = $9,105 million\nAverage Total Assets = (Total Assets at the beginning of the period + Total Assets at the end of the period) \/ 2\nAverage Total Assets = ($61,525 million + $65,645 million) \/ 2 = $63,585 million\nAsset Turnover Ratio = 9,105 \/ 63,585 = 0.14","question_type":"Ratio","page_number":"3, 5","accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n| | | | | | | | | |\n|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|\n| 1 | | Three Months Ended March 31, | | | | | | |\n| 2 | | | 2024 | | 2023 | | | |\n| 3 | | | | (Dollars in millions, except per share amounts) | | | | |\n| 4 | Product sales | | | $ | 6,263 | | $ | 6,310 |\n| 5 | Service sales | | | 2,842 | | 2,554 | | |\n| 6 | Net sales | | | 9,105 | | 8,864 | | |\n| 7 | Costs, expenses and other | | | | | | | |\n| 8 | Cost of products sold | | | 4,035 | | 4,068 | | |\n| 9 | Cost of services sold | | | 1,548 | | 1,430 | | |\n| 10 | Total Cost of products and services sold | | | 5,583 | | 5,498 | | |\n| 11 | Research and development expenses | | | 360 | | 357 | | |\n| 12 | Selling, general and administrative expenses | | | 1,302 | | 1,317 | | |\n| 13 | Other (income) expense | | | (231) | | (260) | | |\n| 14 | Interest and other financial charges | | | 220 | | 170 | | |\n| 15 | Total costs, expenses and other | | | 7,234 | | 7,082 | | |\n| 16 | Income before taxes | | | 1,871 | | 1,782 | | |\n| 17 | Tax expense | | | 396 | | 374 | | |\n| 18 | Net income | | | 1,475 | | 1,408 | | |\n| 19 | Less: Net income attributable to noncontrolling interest | | | 12 | | 14 | | |\n| 20 | Net income attributable to Honeywell | | | $ | 1,463 | | $ | 1,394 |\n| 21 | Earnings per share of common stock-basic | | | $ | 2.24 | | $ | 2.09 |\n| 22 | Earnings per share of common stock-assuming dilution | | | $ | 2.23 | | $ | 2.07 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: \nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nPART I. FINANCIAL INFORMATION\n\nThe financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.\n\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED STATEMENT OF OPERATIONS\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td>Three Months Ended March 31,<\/td><\/tr>
<\/td><\/td><\/td><\/td>2024<\/td><\/td>2023<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td>(Dollars in millions, except per share amounts)<\/td><\/tr>
Product sales<\/td><\/td><\/td><\/td><\/td>$<\/td>6,263 <\/td><\/td><\/td>$<\/td>6,310 <\/td><\/td><\/tr>
Service sales<\/td><\/td><\/td><\/td><\/td>2,842 <\/td><\/td><\/td>2,554 <\/td><\/td><\/tr>
Net sales<\/td><\/td><\/td><\/td><\/td>9,105 <\/td><\/td><\/td>8,864 <\/td><\/td><\/tr>
Costs, expenses and other<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of products sold<\/td><\/td><\/td><\/td><\/td>4,035 <\/td><\/td><\/td>4,068 <\/td><\/td><\/tr>
Cost of services sold<\/td><\/td><\/td><\/td><\/td>1,548 <\/td><\/td><\/td>1,430 <\/td><\/td><\/tr>
Total Cost of products and services sold<\/td><\/td><\/td><\/td><\/td>5,583 <\/td><\/td><\/td>5,498 <\/td><\/td><\/tr>
Research and development expenses<\/td><\/td><\/td><\/td><\/td>360 <\/td><\/td><\/td>357 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td><\/td><\/td><\/td>1,302 <\/td><\/td><\/td>1,317 <\/td><\/td><\/tr>
Other (income) expense<\/td><\/td><\/td><\/td><\/td>(231)<\/td><\/td><\/td>(260)<\/td><\/td><\/tr>
Interest and other financial charges<\/td><\/td><\/td><\/td><\/td>220 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Total costs, expenses and other<\/td><\/td><\/td><\/td><\/td>7,234 <\/td><\/td><\/td>7,082 <\/td><\/td><\/tr>
Income before taxes<\/td><\/td><\/td><\/td><\/td>1,871 <\/td><\/td><\/td>1,782 <\/td><\/td><\/tr>
Tax expense<\/td><\/td><\/td><\/td><\/td>396 <\/td><\/td><\/td>374 <\/td><\/td><\/tr>
Net income<\/td><\/td><\/td><\/td><\/td>1,475 <\/td><\/td><\/td>1,408 <\/td><\/td><\/tr>
Less: Net income attributable to noncontrolling interest<\/td><\/td><\/td><\/td><\/td>12 <\/td><\/td><\/td>14 <\/td><\/td><\/tr>
Net income attributable to Honeywell<\/td><\/td><\/td><\/td><\/td>$<\/td>1,463 <\/td><\/td><\/td>$<\/td>1,394 <\/td><\/td><\/tr>
Earnings per share of common stock-basic<\/td><\/td><\/td><\/td><\/td>$<\/td>2.24 <\/td><\/td><\/td>$<\/td>2.09 <\/td><\/td><\/tr>
Earnings per share of common stock-assuming dilution<\/td><\/td><\/td><\/td><\/td>$<\/td>2.23 <\/td><\/td><\/td>$<\/td>2.07 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n3 Honeywell International Inc.\n\n\n\n\n\n, \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra123","Question":"What was the Current Ratio for Honeywell International Inc. as of March 31, 2024?","ground_truth_answer":"The Current Ratio for Honeywell International Inc. as of March 31, 2024, is calculated as follows:\nCurrent Ratio = Current Assets \/ Current Liabilities\nCurrent Assets = $27,434 million\nCurrent Liabilities = $16,488 million\nCurrent Ratio = 27,434 \/ 16,488 = 1.66","question_type":"Ratio","page_number":5,"accession_number":"0000773840-24-000051","item":"PART I. FINANCIAL INFORMATION","context_markdown_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_markdown_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|\n| 1 | | March 31, 2024 | | December 31, 2023 | | | |\n| 2 | | (Dollars in millions) | | | | | |\n| 3 | ASSETS | | | | | | |\n| 4 | Current assets | | | | | | |\n| 5 | Cash and cash equivalents | $ | 11,756 | | | $ | 7,925 |\n| 6 | Short-term investments | 249 | | | 170 | | |\n| 7 | Accounts receivable, less allowances of $324 and $323, respectively | 7,476 | | | 7,530 | | |\n| 8 | Inventories | 6,318 | | | 6,178 | | |\n| 9 | Other current assets | 1,635 | | | 1,699 | | |\n| 10 | Total current assets | 27,434 | | | 23,502 | | |\n| 11 | Investments and long-term receivables | 975 | | | 939 | | |\n| 12 | Property, plant and equipment-net | 5,698 | | | 5,660 | | |\n| 13 | Goodwill | 17,985 | | | 18,049 | | |\n| 14 | Other intangible assets-net | 3,136 | | | 3,231 | | |\n| 15 | Insurance recoveries for asbestos-related liabilities | 164 | | | 170 | | |\n| 16 | Deferred income taxes | 374 | | | 392 | | |\n| 17 | Other assets | 9,879 | | | 9,582 | | |\n| 18 | Total assets | $ | 65,645 | | | $ | 61,525 |\n| 19 | LIABILITIES | | | | | | |\n| 20 | Current liabilities | | | | | | |\n| 21 | Accounts payable | $ | 6,468 | | | $ | 6,849 |\n| 22 | Commercial paper and other short-term borrowings | 1,819 | | | 2,085 | | |\n| 23 | Current maturities of long-term debt | 1,254 | | | 1,796 | | |\n| 24 | Accrued liabilities | 6,947 | | | 7,809 | | |\n| 25 | Total current liabilities | 16,488 | | | 18,539 | | |\n| 26 | Long-term debt | 22,183 | | | 16,562 | | |\n| 27 | Deferred income taxes | 2,063 | | | 2,094 | | |\n| 28 | Postretirement benefit obligations other than pensions | 129 | | | 134 | | |\n| 29 | Asbestos-related liabilities | 1,467 | | | 1,490 | | |\n| 30 | Other liabilities | 6,263 | | | 6,265 | | |\n| 31 | Redeemable noncontrolling interest | 7 | | | 7 | | |\n| 32 | SHAREOWNERS' EQUITY | | | | | | |\n| 33 | Capital-common stock issued | 958 | | | 958 | | |\n| 34 | -additional paid-in capital | 9,353 | | | 9,062 | | |\n| 35 | Common stock held in treasury, at cost | (38,544) | | | (38,008) | | |\n| 36 | Accumulated other comprehensive income (loss) | (4,048) | | | (4,135) | | |\n| 37 | Retained earnings | 48,735 | | | 47,979 | | |\n| 38 | Total Honeywell shareowners' equity | 16,454 | | | 15,856 | | |\n| 39 | Noncontrolling interest | 591 | | | 578 | | |\n| 40 | Total shareowners' equity | 17,045 | | | 16,434 | | |\n| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 65,645 | | | $ | 61,525 |\n\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_with_headers":"HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: \nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n","context_html_without_headers":"\nTABLE OF CONTENTS\n\n\n\nHONEYWELL INTERNATIONAL INC.\n\n\nCONSOLIDATED BALANCE SHEET\n\n(Unaudited)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 31, 2024<\/td><\/td>December 31, 2023<\/td><\/tr>
<\/td>(Dollars in millions)<\/td><\/tr>
ASSETS<\/td><\/td><\/td> <\/td><\/tr>
Current assets<\/td> <\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>11,756 <\/td><\/td><\/td>$<\/td>7,925 <\/td><\/td><\/tr>
Short-term investments<\/td>249 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Accounts receivable, less allowances of $324 and $323, respectively<\/td>7,476 <\/td><\/td><\/td>7,530 <\/td><\/td><\/tr>
Inventories<\/td>6,318 <\/td><\/td><\/td>6,178 <\/td><\/td><\/tr>
Other current assets<\/td>1,635 <\/td><\/td><\/td>1,699 <\/td><\/td><\/tr>
Total current assets<\/td>27,434 <\/td><\/td><\/td>23,502 <\/td><\/td><\/tr>
Investments and long-term receivables<\/td>975 <\/td><\/td><\/td>939 <\/td><\/td><\/tr>
Property, plant and equipment-net<\/td>5,698 <\/td><\/td><\/td>5,660 <\/td><\/td><\/tr>
Goodwill<\/td>17,985 <\/td><\/td><\/td>18,049 <\/td><\/td><\/tr>
Other intangible assets-net<\/td>3,136 <\/td><\/td><\/td>3,231 <\/td><\/td><\/tr>
Insurance recoveries for asbestos-related liabilities<\/td>164 <\/td><\/td><\/td>170 <\/td><\/td><\/tr>
Deferred income taxes<\/td>374 <\/td><\/td><\/td>392 <\/td><\/td><\/tr>
Other assets<\/td>9,879 <\/td><\/td><\/td>9,582 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>6,468 <\/td><\/td><\/td>$<\/td>6,849 <\/td><\/td><\/tr>
Commercial paper and other short-term borrowings<\/td>1,819 <\/td><\/td><\/td>2,085 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,254 <\/td><\/td><\/td>1,796 <\/td><\/td><\/tr>
Accrued liabilities<\/td>6,947 <\/td><\/td><\/td>7,809 <\/td><\/td><\/tr>
Total current liabilities<\/td>16,488 <\/td><\/td><\/td>18,539 <\/td><\/td><\/tr>
Long-term debt<\/td>22,183 <\/td><\/td><\/td>16,562 <\/td><\/td><\/tr>
Deferred income taxes<\/td>2,063 <\/td><\/td><\/td>2,094 <\/td><\/td><\/tr>
Postretirement benefit obligations other than pensions<\/td>129 <\/td><\/td><\/td>134 <\/td><\/td><\/tr>
Asbestos-related liabilities<\/td>1,467 <\/td><\/td><\/td>1,490 <\/td><\/td><\/tr>
Other liabilities<\/td>6,263 <\/td><\/td><\/td>6,265 <\/td><\/td><\/tr>
Redeemable noncontrolling interest<\/td>7 <\/td><\/td><\/td>7 <\/td><\/td><\/tr>
SHAREOWNERS' EQUITY<\/td><\/td><\/td><\/td><\/tr>
Capital-common stock issued<\/td>958 <\/td><\/td><\/td>958 <\/td><\/td><\/tr>
-additional paid-in capital<\/td>9,353 <\/td><\/td><\/td>9,062 <\/td><\/td><\/tr>
Common stock held in treasury, at cost<\/td>(38,544)<\/td><\/td><\/td>(38,008)<\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(4,048)<\/td><\/td><\/td>(4,135)<\/td><\/td><\/tr>
Retained earnings<\/td>48,735 <\/td><\/td><\/td>47,979 <\/td><\/td><\/tr>
Total Honeywell shareowners' equity<\/td>16,454 <\/td><\/td><\/td>15,856 <\/td><\/td><\/tr>
Noncontrolling interest<\/td>591 <\/td><\/td><\/td>578 <\/td><\/td><\/tr>
Total shareowners' equity<\/td>17,045 <\/td><\/td><\/td>16,434 <\/td><\/td><\/tr>
Total liabilities, redeemable noncontrolling interest and shareowners' equity<\/td>$<\/td>65,645 <\/td><\/td><\/td>$<\/td>61,525 <\/td><\/td><\/tr><\/table>\nThe Notes to Consolidated Financial Statements are an integral part of this statement.\n\n\n5 Honeywell International Inc.\n\n\n\n\n\n"} +{"QID":"q_Ra124","Question":"What is the current ratio of Exxon Mobil for June 30, 2024?","ground_truth_answer":"The current ratio is calculated as:\nCurrent Assets\/Current Liabilities\n96,238\/ 70,763\u200b\n =1.36","question_type":"Ratio","page_number":5,"accession_number":"0000034088-24-000050","item":"Item 1. Financial Statements","context_markdown_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_html_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n","context_html_without_headers":"\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n"} +{"QID":"q_Ra125","Question":"Calculate the quick ratio for ExxonMobil, excluding inventory, as of June 30, 2024.","ground_truth_answer":"Method 1: Quick Ratio = (Current Assets \u2212 Inventory) \/ Current Liabilities\n\nCurrent Assets = $96,238 million\nInventory = $19,685 million (Crude oil, products, and merchandise) + $4,818 million (Materials and supplies) = $24,503 million\nCurrent Liabilities = $70,763 million\n\nQuick Ratio = (96,238 \u2212 24,503) \/ 70,763\nQuick Ratio = 71,735 \/ 70,763 \u2248 1.01\nMethod 2: Quick Ratio = (Cash and Cash Equivalents + Marketable Securities + Accounts Receivable) \/ Current Liabilities\n\nCash and Cash Equivalents = $25,565 million\nMarketable Securities = $36,236 million\nAccounts Receivable, net = $22,795 million\nCurrent Liabilities = $131,624 million\n\nQuick Ratio = (25,565 + 36,236 + 22,795) \/ 131,624\nQuick Ratio = 84,596 \/ 131,624 \u2248 0.64\n\nThe quick ratio indicates that Apple Inc. has liquid assets to cover 64% of its short-term liabilities without relying on inventory.","question_type":"Ratio","page_number":5,"accession_number":"0000034088-24-000050","item":"Item 1. Financial Statements","context_markdown_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_html_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n","context_html_without_headers":"\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n"} +{"QID":"q_Ra126","Question":"What is ExxonMobil's cash ratio as of June 30, 2024?","ground_truth_answer":"Cash\u00a0Ratio= Cash\u00a0and\u00a0Cash\u00a0Equivalents\/Current\u00a0Liabilities\n = (26,460+28)\/70,763 =0.37\nThis low cash ratio indicates that cash and cash equivalents alone would not fully cover current liabilities.","question_type":"Ratio","page_number":5,"accession_number":"0000034088-24-000050","item":"Item 1. Financial Statements","context_markdown_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_html_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n","context_html_without_headers":"\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n"} +{"QID":"q_Ra127","Question":"What is ExxonMobil's net profit margin for the six months ended June 30, 2024?","ground_truth_answer":"Net\u00a0Profit\u00a0Margin= Net\u00a0Income\/Revenue\u200b \u00d7100= 17,460\/176,143\u200b \u00d7100=9.91%\nThis margin shows ExxonMobil\u2019s profitability after all expenses, including taxes and interest.","question_type":"Ratio","page_number":3,"accession_number":"0000034088-24-000050","item":"Item 1. Financial Statements","context_markdown_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 3: \nPART I. FINANCIAL INFORMATION\n\n\n| | |\n|---:|:-----------------------------|\n| 1 | ITEM 1. FINANCIAL STATEMENTS |\n\n\n| | |\n|---:|:-------------------------------------------|\n| 2 | CONDENSED CONSOLIDATED STATEMENT OF INCOME |\n\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----|:---------------------------|:-----|:-------------------------|:--------|:--------|\n| 1 | (millions of dollars, unless noted) | | Three Months EndedJune 30, | | Six Months EndedJune 30, | | |\n| 2 | 2024 | 2023 | | 2024 | 2023 | | |\n| 3 | Revenues and other income | | | | | | |\n| 4 | Sales and other operating revenue | | 89,986 | | 80,795 | 170,397 | 164,439 |\n| 5 | Income from equity affiliates | | 1,744 | | 1,382 | 3,586 | 3,763 |\n| 6 | Other income | | 1,330 | | 737 | 2,160 | 1,276 |\n| 7 | Total revenues and other income | | 93,060 | | 82,914 | 176,143 | 169,478 |\n| 8 | Costs and other deductions | | | | | | |\n| 9 | Crude oil and product purchases | | 54,199 | | 47,598 | 101,800 | 93,601 |\n| 10 | Production and manufacturing expenses | | 9,804 | | 8,860 | 18,895 | 18,296 |\n| 11 | Selling, general and administrative expenses | | 2,568 | | 2,449 | 5,063 | 4,839 |\n| 12 | Depreciation and depletion (includes impairments) | | 5,787 | | 4,242 | 10,599 | 8,486 |\n| 13 | Exploration expenses, including dry holes | | 153 | | 133 | 301 | 274 |\n| 14 | Non-service pension and postretirement benefit expense | | 34 | | 164 | 57 | 331 |\n| 15 | Interest expense | | 271 | | 249 | 492 | 408 |\n| 16 | Other taxes and duties | | 6,579 | | 7,563 | 12,902 | 14,784 |\n| 17 | Total costs and other deductions | | 79,395 | | 71,258 | 150,109 | 141,019 |\n| 18 | Income (loss) before income taxes | | 13,665 | | 11,656 | 26,034 | 28,459 |\n| 19 | Income tax expense (benefit) | | 4,094 | | 3,503 | 7,897 | 8,463 |\n| 20 | Net income (loss) including noncontrolling interests | | 9,571 | | 8,153 | 18,137 | 19,996 |\n| 21 | Net income (loss) attributable to noncontrolling interests | | 331 | | 273 | 677 | 686 |\n| 22 | Net income (loss) attributable to ExxonMobil | | 9,240 | | 7,880 | 17,460 | 19,310 |\n| 24 | Earnings (loss) per common share (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 26 | Earnings (loss) per common share - assuming dilution (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 28 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | | | | |\n3\n\n\n\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION\n\n\n| | |\n|---:|:-----------------------------|\n| 1 | ITEM 1. FINANCIAL STATEMENTS |\n\n\n| | |\n|---:|:-------------------------------------------|\n| 2 | CONDENSED CONSOLIDATED STATEMENT OF INCOME |\n\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----|:---------------------------|:-----|:-------------------------|:--------|:--------|\n| 1 | (millions of dollars, unless noted) | | Three Months EndedJune 30, | | Six Months EndedJune 30, | | |\n| 2 | 2024 | 2023 | | 2024 | 2023 | | |\n| 3 | Revenues and other income | | | | | | |\n| 4 | Sales and other operating revenue | | 89,986 | | 80,795 | 170,397 | 164,439 |\n| 5 | Income from equity affiliates | | 1,744 | | 1,382 | 3,586 | 3,763 |\n| 6 | Other income | | 1,330 | | 737 | 2,160 | 1,276 |\n| 7 | Total revenues and other income | | 93,060 | | 82,914 | 176,143 | 169,478 |\n| 8 | Costs and other deductions | | | | | | |\n| 9 | Crude oil and product purchases | | 54,199 | | 47,598 | 101,800 | 93,601 |\n| 10 | Production and manufacturing expenses | | 9,804 | | 8,860 | 18,895 | 18,296 |\n| 11 | Selling, general and administrative expenses | | 2,568 | | 2,449 | 5,063 | 4,839 |\n| 12 | Depreciation and depletion (includes impairments) | | 5,787 | | 4,242 | 10,599 | 8,486 |\n| 13 | Exploration expenses, including dry holes | | 153 | | 133 | 301 | 274 |\n| 14 | Non-service pension and postretirement benefit expense | | 34 | | 164 | 57 | 331 |\n| 15 | Interest expense | | 271 | | 249 | 492 | 408 |\n| 16 | Other taxes and duties | | 6,579 | | 7,563 | 12,902 | 14,784 |\n| 17 | Total costs and other deductions | | 79,395 | | 71,258 | 150,109 | 141,019 |\n| 18 | Income (loss) before income taxes | | 13,665 | | 11,656 | 26,034 | 28,459 |\n| 19 | Income tax expense (benefit) | | 4,094 | | 3,503 | 7,897 | 8,463 |\n| 20 | Net income (loss) including noncontrolling interests | | 9,571 | | 8,153 | 18,137 | 19,996 |\n| 21 | Net income (loss) attributable to noncontrolling interests | | 331 | | 273 | 677 | 686 |\n| 22 | Net income (loss) attributable to ExxonMobil | | 9,240 | | 7,880 | 17,460 | 19,310 |\n| 24 | Earnings (loss) per common share (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 26 | Earnings (loss) per common share - assuming dilution (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 28 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | | | | |\n3\n\n\n\n\n","context_html_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 3: \nPART I. FINANCIAL INFORMATION\n\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ITEM 1. FINANCIAL STATEMENTS<\/td><\/td><\/td><\/tr><\/table>\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED STATEMENT OF INCOME<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>Three Months EndedJune 30,<\/td><\/td>Six Months EndedJune 30,<\/td><\/tr>
2024<\/td>2023<\/td><\/td>2024<\/td>2023<\/td><\/tr>
Revenues and other income<\/td><\/td> <\/td> <\/td><\/td><\/td><\/td><\/tr>
Sales and other operating revenue<\/td><\/td>89,986 <\/td><\/td>80,795 <\/td><\/td><\/td>170,397 <\/td><\/td>164,439 <\/td><\/td><\/tr>
Income from equity affiliates<\/td><\/td>1,744 <\/td><\/td>1,382 <\/td><\/td><\/td>3,586 <\/td><\/td>3,763 <\/td><\/td><\/tr>
Other income<\/td><\/td>1,330 <\/td><\/td>737 <\/td><\/td><\/td>2,160 <\/td><\/td>1,276 <\/td><\/td><\/tr>
Total revenues and other income<\/td><\/td>93,060 <\/td><\/td>82,914 <\/td><\/td><\/td>176,143 <\/td><\/td>169,478 <\/td><\/td><\/tr>
Costs and other deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil and product purchases<\/td><\/td>54,199 <\/td><\/td>47,598 <\/td><\/td><\/td>101,800 <\/td><\/td>93,601 <\/td><\/td><\/tr>
Production and manufacturing expenses<\/td><\/td>9,804 <\/td><\/td>8,860 <\/td><\/td><\/td>18,895 <\/td><\/td>18,296 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td>2,568 <\/td><\/td>2,449 <\/td><\/td><\/td>5,063 <\/td><\/td>4,839 <\/td><\/td><\/tr>
Depreciation and depletion (includes impairments)<\/td><\/td>5,787 <\/td><\/td>4,242 <\/td><\/td><\/td>10,599 <\/td><\/td>8,486 <\/td><\/td><\/tr>
Exploration expenses, including dry holes<\/td><\/td>153 <\/td><\/td>133 <\/td><\/td><\/td>301 <\/td><\/td>274 <\/td><\/td><\/tr>
Non-service pension and postretirement benefit expense<\/td><\/td>34 <\/td><\/td>164 <\/td><\/td><\/td>57 <\/td><\/td>331 <\/td><\/td><\/tr>
Interest expense<\/td><\/td>271 <\/td><\/td>249 <\/td><\/td><\/td>492 <\/td><\/td>408 <\/td><\/td><\/tr>
Other taxes and duties<\/td><\/td>6,579 <\/td><\/td>7,563 <\/td><\/td><\/td>12,902 <\/td><\/td>14,784 <\/td><\/td><\/tr>
Total costs and other deductions<\/td><\/td>79,395 <\/td><\/td>71,258 <\/td><\/td><\/td>150,109 <\/td><\/td>141,019 <\/td><\/td><\/tr>
Income (loss) before income taxes<\/td><\/td>13,665 <\/td><\/td>11,656 <\/td><\/td><\/td>26,034 <\/td><\/td>28,459 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td><\/td>4,094 <\/td><\/td>3,503 <\/td><\/td><\/td>7,897 <\/td><\/td>8,463 <\/td><\/td><\/tr>
Net income (loss) including noncontrolling interests<\/td><\/td>9,571 <\/td><\/td>8,153 <\/td><\/td><\/td>18,137 <\/td><\/td>19,996 <\/td><\/td><\/tr>
Net income (loss) attributable to noncontrolling interests<\/td><\/td>331 <\/td><\/td>273 <\/td><\/td><\/td>677 <\/td><\/td>686 <\/td><\/td><\/tr>
Net income (loss) attributable to ExxonMobil<\/td><\/td>9,240 <\/td><\/td>7,880 <\/td><\/td><\/td>17,460 <\/td><\/td>19,310 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share - assuming dilution (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/tr><\/table>3\n\n\n\n\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION\n\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ITEM 1. FINANCIAL STATEMENTS<\/td><\/td><\/td><\/tr><\/table>\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED STATEMENT OF INCOME<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>Three Months EndedJune 30,<\/td><\/td>Six Months EndedJune 30,<\/td><\/tr>
2024<\/td>2023<\/td><\/td>2024<\/td>2023<\/td><\/tr>
Revenues and other income<\/td><\/td> <\/td> <\/td><\/td><\/td><\/td><\/tr>
Sales and other operating revenue<\/td><\/td>89,986 <\/td><\/td>80,795 <\/td><\/td><\/td>170,397 <\/td><\/td>164,439 <\/td><\/td><\/tr>
Income from equity affiliates<\/td><\/td>1,744 <\/td><\/td>1,382 <\/td><\/td><\/td>3,586 <\/td><\/td>3,763 <\/td><\/td><\/tr>
Other income<\/td><\/td>1,330 <\/td><\/td>737 <\/td><\/td><\/td>2,160 <\/td><\/td>1,276 <\/td><\/td><\/tr>
Total revenues and other income<\/td><\/td>93,060 <\/td><\/td>82,914 <\/td><\/td><\/td>176,143 <\/td><\/td>169,478 <\/td><\/td><\/tr>
Costs and other deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil and product purchases<\/td><\/td>54,199 <\/td><\/td>47,598 <\/td><\/td><\/td>101,800 <\/td><\/td>93,601 <\/td><\/td><\/tr>
Production and manufacturing expenses<\/td><\/td>9,804 <\/td><\/td>8,860 <\/td><\/td><\/td>18,895 <\/td><\/td>18,296 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td>2,568 <\/td><\/td>2,449 <\/td><\/td><\/td>5,063 <\/td><\/td>4,839 <\/td><\/td><\/tr>
Depreciation and depletion (includes impairments)<\/td><\/td>5,787 <\/td><\/td>4,242 <\/td><\/td><\/td>10,599 <\/td><\/td>8,486 <\/td><\/td><\/tr>
Exploration expenses, including dry holes<\/td><\/td>153 <\/td><\/td>133 <\/td><\/td><\/td>301 <\/td><\/td>274 <\/td><\/td><\/tr>
Non-service pension and postretirement benefit expense<\/td><\/td>34 <\/td><\/td>164 <\/td><\/td><\/td>57 <\/td><\/td>331 <\/td><\/td><\/tr>
Interest expense<\/td><\/td>271 <\/td><\/td>249 <\/td><\/td><\/td>492 <\/td><\/td>408 <\/td><\/td><\/tr>
Other taxes and duties<\/td><\/td>6,579 <\/td><\/td>7,563 <\/td><\/td><\/td>12,902 <\/td><\/td>14,784 <\/td><\/td><\/tr>
Total costs and other deductions<\/td><\/td>79,395 <\/td><\/td>71,258 <\/td><\/td><\/td>150,109 <\/td><\/td>141,019 <\/td><\/td><\/tr>
Income (loss) before income taxes<\/td><\/td>13,665 <\/td><\/td>11,656 <\/td><\/td><\/td>26,034 <\/td><\/td>28,459 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td><\/td>4,094 <\/td><\/td>3,503 <\/td><\/td><\/td>7,897 <\/td><\/td>8,463 <\/td><\/td><\/tr>
Net income (loss) including noncontrolling interests<\/td><\/td>9,571 <\/td><\/td>8,153 <\/td><\/td><\/td>18,137 <\/td><\/td>19,996 <\/td><\/td><\/tr>
Net income (loss) attributable to noncontrolling interests<\/td><\/td>331 <\/td><\/td>273 <\/td><\/td><\/td>677 <\/td><\/td>686 <\/td><\/td><\/tr>
Net income (loss) attributable to ExxonMobil<\/td><\/td>9,240 <\/td><\/td>7,880 <\/td><\/td><\/td>17,460 <\/td><\/td>19,310 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share - assuming dilution (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/tr><\/table>3\n\n\n\n\n"} +{"QID":"q_Ra128","Question":"Calculate the asset turnover ratio for ExxonMobil for the six months ended June 30, 2024.","ground_truth_answer":"Asset\u00a0Turnover\u00a0Ratio= Revenue\/Total\u00a0Assets = 176,143\/460,707 =0.38\nThis ratio shows that ExxonMobil generated $0.38 in revenue for every dollar of assets, indicating moderate asset utilization.","question_type":"Ratio","page_number":"3, 5","accession_number":"0000034088-24-000050","item":"Item 1. Financial Statements","context_markdown_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 3: \nPART I. FINANCIAL INFORMATION\n\n\n| | |\n|---:|:-----------------------------|\n| 1 | ITEM 1. FINANCIAL STATEMENTS |\n\n\n| | |\n|---:|:-------------------------------------------|\n| 2 | CONDENSED CONSOLIDATED STATEMENT OF INCOME |\n\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----|:---------------------------|:-----|:-------------------------|:--------|:--------|\n| 1 | (millions of dollars, unless noted) | | Three Months EndedJune 30, | | Six Months EndedJune 30, | | |\n| 2 | 2024 | 2023 | | 2024 | 2023 | | |\n| 3 | Revenues and other income | | | | | | |\n| 4 | Sales and other operating revenue | | 89,986 | | 80,795 | 170,397 | 164,439 |\n| 5 | Income from equity affiliates | | 1,744 | | 1,382 | 3,586 | 3,763 |\n| 6 | Other income | | 1,330 | | 737 | 2,160 | 1,276 |\n| 7 | Total revenues and other income | | 93,060 | | 82,914 | 176,143 | 169,478 |\n| 8 | Costs and other deductions | | | | | | |\n| 9 | Crude oil and product purchases | | 54,199 | | 47,598 | 101,800 | 93,601 |\n| 10 | Production and manufacturing expenses | | 9,804 | | 8,860 | 18,895 | 18,296 |\n| 11 | Selling, general and administrative expenses | | 2,568 | | 2,449 | 5,063 | 4,839 |\n| 12 | Depreciation and depletion (includes impairments) | | 5,787 | | 4,242 | 10,599 | 8,486 |\n| 13 | Exploration expenses, including dry holes | | 153 | | 133 | 301 | 274 |\n| 14 | Non-service pension and postretirement benefit expense | | 34 | | 164 | 57 | 331 |\n| 15 | Interest expense | | 271 | | 249 | 492 | 408 |\n| 16 | Other taxes and duties | | 6,579 | | 7,563 | 12,902 | 14,784 |\n| 17 | Total costs and other deductions | | 79,395 | | 71,258 | 150,109 | 141,019 |\n| 18 | Income (loss) before income taxes | | 13,665 | | 11,656 | 26,034 | 28,459 |\n| 19 | Income tax expense (benefit) | | 4,094 | | 3,503 | 7,897 | 8,463 |\n| 20 | Net income (loss) including noncontrolling interests | | 9,571 | | 8,153 | 18,137 | 19,996 |\n| 21 | Net income (loss) attributable to noncontrolling interests | | 331 | | 273 | 677 | 686 |\n| 22 | Net income (loss) attributable to ExxonMobil | | 9,240 | | 7,880 | 17,460 | 19,310 |\n| 24 | Earnings (loss) per common share (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 26 | Earnings (loss) per common share - assuming dilution (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 28 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | | | | |\n3\n\n\n\n\n, EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION\n\n\n| | |\n|---:|:-----------------------------|\n| 1 | ITEM 1. FINANCIAL STATEMENTS |\n\n\n| | |\n|---:|:-------------------------------------------|\n| 2 | CONDENSED CONSOLIDATED STATEMENT OF INCOME |\n\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----|:---------------------------|:-----|:-------------------------|:--------|:--------|\n| 1 | (millions of dollars, unless noted) | | Three Months EndedJune 30, | | Six Months EndedJune 30, | | |\n| 2 | 2024 | 2023 | | 2024 | 2023 | | |\n| 3 | Revenues and other income | | | | | | |\n| 4 | Sales and other operating revenue | | 89,986 | | 80,795 | 170,397 | 164,439 |\n| 5 | Income from equity affiliates | | 1,744 | | 1,382 | 3,586 | 3,763 |\n| 6 | Other income | | 1,330 | | 737 | 2,160 | 1,276 |\n| 7 | Total revenues and other income | | 93,060 | | 82,914 | 176,143 | 169,478 |\n| 8 | Costs and other deductions | | | | | | |\n| 9 | Crude oil and product purchases | | 54,199 | | 47,598 | 101,800 | 93,601 |\n| 10 | Production and manufacturing expenses | | 9,804 | | 8,860 | 18,895 | 18,296 |\n| 11 | Selling, general and administrative expenses | | 2,568 | | 2,449 | 5,063 | 4,839 |\n| 12 | Depreciation and depletion (includes impairments) | | 5,787 | | 4,242 | 10,599 | 8,486 |\n| 13 | Exploration expenses, including dry holes | | 153 | | 133 | 301 | 274 |\n| 14 | Non-service pension and postretirement benefit expense | | 34 | | 164 | 57 | 331 |\n| 15 | Interest expense | | 271 | | 249 | 492 | 408 |\n| 16 | Other taxes and duties | | 6,579 | | 7,563 | 12,902 | 14,784 |\n| 17 | Total costs and other deductions | | 79,395 | | 71,258 | 150,109 | 141,019 |\n| 18 | Income (loss) before income taxes | | 13,665 | | 11,656 | 26,034 | 28,459 |\n| 19 | Income tax expense (benefit) | | 4,094 | | 3,503 | 7,897 | 8,463 |\n| 20 | Net income (loss) including noncontrolling interests | | 9,571 | | 8,153 | 18,137 | 19,996 |\n| 21 | Net income (loss) attributable to noncontrolling interests | | 331 | | 273 | 677 | 686 |\n| 22 | Net income (loss) attributable to ExxonMobil | | 9,240 | | 7,880 | 17,460 | 19,310 |\n| 24 | Earnings (loss) per common share (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 26 | Earnings (loss) per common share - assuming dilution (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 28 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | | | | |\n3\n\n\n\n\n, \n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_html_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 3: \nPART I. FINANCIAL INFORMATION\n\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ITEM 1. FINANCIAL STATEMENTS<\/td><\/td><\/td><\/tr><\/table>\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED STATEMENT OF INCOME<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>Three Months EndedJune 30,<\/td><\/td>Six Months EndedJune 30,<\/td><\/tr>
2024<\/td>2023<\/td><\/td>2024<\/td>2023<\/td><\/tr>
Revenues and other income<\/td><\/td> <\/td> <\/td><\/td><\/td><\/td><\/tr>
Sales and other operating revenue<\/td><\/td>89,986 <\/td><\/td>80,795 <\/td><\/td><\/td>170,397 <\/td><\/td>164,439 <\/td><\/td><\/tr>
Income from equity affiliates<\/td><\/td>1,744 <\/td><\/td>1,382 <\/td><\/td><\/td>3,586 <\/td><\/td>3,763 <\/td><\/td><\/tr>
Other income<\/td><\/td>1,330 <\/td><\/td>737 <\/td><\/td><\/td>2,160 <\/td><\/td>1,276 <\/td><\/td><\/tr>
Total revenues and other income<\/td><\/td>93,060 <\/td><\/td>82,914 <\/td><\/td><\/td>176,143 <\/td><\/td>169,478 <\/td><\/td><\/tr>
Costs and other deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil and product purchases<\/td><\/td>54,199 <\/td><\/td>47,598 <\/td><\/td><\/td>101,800 <\/td><\/td>93,601 <\/td><\/td><\/tr>
Production and manufacturing expenses<\/td><\/td>9,804 <\/td><\/td>8,860 <\/td><\/td><\/td>18,895 <\/td><\/td>18,296 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td>2,568 <\/td><\/td>2,449 <\/td><\/td><\/td>5,063 <\/td><\/td>4,839 <\/td><\/td><\/tr>
Depreciation and depletion (includes impairments)<\/td><\/td>5,787 <\/td><\/td>4,242 <\/td><\/td><\/td>10,599 <\/td><\/td>8,486 <\/td><\/td><\/tr>
Exploration expenses, including dry holes<\/td><\/td>153 <\/td><\/td>133 <\/td><\/td><\/td>301 <\/td><\/td>274 <\/td><\/td><\/tr>
Non-service pension and postretirement benefit expense<\/td><\/td>34 <\/td><\/td>164 <\/td><\/td><\/td>57 <\/td><\/td>331 <\/td><\/td><\/tr>
Interest expense<\/td><\/td>271 <\/td><\/td>249 <\/td><\/td><\/td>492 <\/td><\/td>408 <\/td><\/td><\/tr>
Other taxes and duties<\/td><\/td>6,579 <\/td><\/td>7,563 <\/td><\/td><\/td>12,902 <\/td><\/td>14,784 <\/td><\/td><\/tr>
Total costs and other deductions<\/td><\/td>79,395 <\/td><\/td>71,258 <\/td><\/td><\/td>150,109 <\/td><\/td>141,019 <\/td><\/td><\/tr>
Income (loss) before income taxes<\/td><\/td>13,665 <\/td><\/td>11,656 <\/td><\/td><\/td>26,034 <\/td><\/td>28,459 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td><\/td>4,094 <\/td><\/td>3,503 <\/td><\/td><\/td>7,897 <\/td><\/td>8,463 <\/td><\/td><\/tr>
Net income (loss) including noncontrolling interests<\/td><\/td>9,571 <\/td><\/td>8,153 <\/td><\/td><\/td>18,137 <\/td><\/td>19,996 <\/td><\/td><\/tr>
Net income (loss) attributable to noncontrolling interests<\/td><\/td>331 <\/td><\/td>273 <\/td><\/td><\/td>677 <\/td><\/td>686 <\/td><\/td><\/tr>
Net income (loss) attributable to ExxonMobil<\/td><\/td>9,240 <\/td><\/td>7,880 <\/td><\/td><\/td>17,460 <\/td><\/td>19,310 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share - assuming dilution (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/tr><\/table>3\n\n\n\n\n, EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION\n\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ITEM 1. FINANCIAL STATEMENTS<\/td><\/td><\/td><\/tr><\/table>\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED STATEMENT OF INCOME<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>Three Months EndedJune 30,<\/td><\/td>Six Months EndedJune 30,<\/td><\/tr>
2024<\/td>2023<\/td><\/td>2024<\/td>2023<\/td><\/tr>
Revenues and other income<\/td><\/td> <\/td> <\/td><\/td><\/td><\/td><\/tr>
Sales and other operating revenue<\/td><\/td>89,986 <\/td><\/td>80,795 <\/td><\/td><\/td>170,397 <\/td><\/td>164,439 <\/td><\/td><\/tr>
Income from equity affiliates<\/td><\/td>1,744 <\/td><\/td>1,382 <\/td><\/td><\/td>3,586 <\/td><\/td>3,763 <\/td><\/td><\/tr>
Other income<\/td><\/td>1,330 <\/td><\/td>737 <\/td><\/td><\/td>2,160 <\/td><\/td>1,276 <\/td><\/td><\/tr>
Total revenues and other income<\/td><\/td>93,060 <\/td><\/td>82,914 <\/td><\/td><\/td>176,143 <\/td><\/td>169,478 <\/td><\/td><\/tr>
Costs and other deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil and product purchases<\/td><\/td>54,199 <\/td><\/td>47,598 <\/td><\/td><\/td>101,800 <\/td><\/td>93,601 <\/td><\/td><\/tr>
Production and manufacturing expenses<\/td><\/td>9,804 <\/td><\/td>8,860 <\/td><\/td><\/td>18,895 <\/td><\/td>18,296 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td>2,568 <\/td><\/td>2,449 <\/td><\/td><\/td>5,063 <\/td><\/td>4,839 <\/td><\/td><\/tr>
Depreciation and depletion (includes impairments)<\/td><\/td>5,787 <\/td><\/td>4,242 <\/td><\/td><\/td>10,599 <\/td><\/td>8,486 <\/td><\/td><\/tr>
Exploration expenses, including dry holes<\/td><\/td>153 <\/td><\/td>133 <\/td><\/td><\/td>301 <\/td><\/td>274 <\/td><\/td><\/tr>
Non-service pension and postretirement benefit expense<\/td><\/td>34 <\/td><\/td>164 <\/td><\/td><\/td>57 <\/td><\/td>331 <\/td><\/td><\/tr>
Interest expense<\/td><\/td>271 <\/td><\/td>249 <\/td><\/td><\/td>492 <\/td><\/td>408 <\/td><\/td><\/tr>
Other taxes and duties<\/td><\/td>6,579 <\/td><\/td>7,563 <\/td><\/td><\/td>12,902 <\/td><\/td>14,784 <\/td><\/td><\/tr>
Total costs and other deductions<\/td><\/td>79,395 <\/td><\/td>71,258 <\/td><\/td><\/td>150,109 <\/td><\/td>141,019 <\/td><\/td><\/tr>
Income (loss) before income taxes<\/td><\/td>13,665 <\/td><\/td>11,656 <\/td><\/td><\/td>26,034 <\/td><\/td>28,459 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td><\/td>4,094 <\/td><\/td>3,503 <\/td><\/td><\/td>7,897 <\/td><\/td>8,463 <\/td><\/td><\/tr>
Net income (loss) including noncontrolling interests<\/td><\/td>9,571 <\/td><\/td>8,153 <\/td><\/td><\/td>18,137 <\/td><\/td>19,996 <\/td><\/td><\/tr>
Net income (loss) attributable to noncontrolling interests<\/td><\/td>331 <\/td><\/td>273 <\/td><\/td><\/td>677 <\/td><\/td>686 <\/td><\/td><\/tr>
Net income (loss) attributable to ExxonMobil<\/td><\/td>9,240 <\/td><\/td>7,880 <\/td><\/td><\/td>17,460 <\/td><\/td>19,310 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share - assuming dilution (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/tr><\/table>3\n\n\n\n\n, \n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n"} +{"QID":"q_Ra129","Question":"Calculate the receivables turnover ratio for ExxonMobil for the six months ended June 30, 2024.","ground_truth_answer":"Receivables\u00a0Turnover\u00a0Ratio= Revenue\/Accounts\u00a0Receivable =176,143\/43,071 =4.09\n\nThis ratio implies that ExxonMobil collects its receivables approximately 4 times a year.","question_type":"Ratio","page_number":"3, 5","accession_number":"0000034088-24-000050","item":"Item 1. Financial Statements","context_markdown_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 3: \nPART I. FINANCIAL INFORMATION\n\n\n| | |\n|---:|:-----------------------------|\n| 1 | ITEM 1. FINANCIAL STATEMENTS |\n\n\n| | |\n|---:|:-------------------------------------------|\n| 2 | CONDENSED CONSOLIDATED STATEMENT OF INCOME |\n\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----|:---------------------------|:-----|:-------------------------|:--------|:--------|\n| 1 | (millions of dollars, unless noted) | | Three Months EndedJune 30, | | Six Months EndedJune 30, | | |\n| 2 | 2024 | 2023 | | 2024 | 2023 | | |\n| 3 | Revenues and other income | | | | | | |\n| 4 | Sales and other operating revenue | | 89,986 | | 80,795 | 170,397 | 164,439 |\n| 5 | Income from equity affiliates | | 1,744 | | 1,382 | 3,586 | 3,763 |\n| 6 | Other income | | 1,330 | | 737 | 2,160 | 1,276 |\n| 7 | Total revenues and other income | | 93,060 | | 82,914 | 176,143 | 169,478 |\n| 8 | Costs and other deductions | | | | | | |\n| 9 | Crude oil and product purchases | | 54,199 | | 47,598 | 101,800 | 93,601 |\n| 10 | Production and manufacturing expenses | | 9,804 | | 8,860 | 18,895 | 18,296 |\n| 11 | Selling, general and administrative expenses | | 2,568 | | 2,449 | 5,063 | 4,839 |\n| 12 | Depreciation and depletion (includes impairments) | | 5,787 | | 4,242 | 10,599 | 8,486 |\n| 13 | Exploration expenses, including dry holes | | 153 | | 133 | 301 | 274 |\n| 14 | Non-service pension and postretirement benefit expense | | 34 | | 164 | 57 | 331 |\n| 15 | Interest expense | | 271 | | 249 | 492 | 408 |\n| 16 | Other taxes and duties | | 6,579 | | 7,563 | 12,902 | 14,784 |\n| 17 | Total costs and other deductions | | 79,395 | | 71,258 | 150,109 | 141,019 |\n| 18 | Income (loss) before income taxes | | 13,665 | | 11,656 | 26,034 | 28,459 |\n| 19 | Income tax expense (benefit) | | 4,094 | | 3,503 | 7,897 | 8,463 |\n| 20 | Net income (loss) including noncontrolling interests | | 9,571 | | 8,153 | 18,137 | 19,996 |\n| 21 | Net income (loss) attributable to noncontrolling interests | | 331 | | 273 | 677 | 686 |\n| 22 | Net income (loss) attributable to ExxonMobil | | 9,240 | | 7,880 | 17,460 | 19,310 |\n| 24 | Earnings (loss) per common share (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 26 | Earnings (loss) per common share - assuming dilution (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 28 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | | | | |\n3\n\n\n\n\n, EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION\n\n\n| | |\n|---:|:-----------------------------|\n| 1 | ITEM 1. FINANCIAL STATEMENTS |\n\n\n| | |\n|---:|:-------------------------------------------|\n| 2 | CONDENSED CONSOLIDATED STATEMENT OF INCOME |\n\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----|:---------------------------|:-----|:-------------------------|:--------|:--------|\n| 1 | (millions of dollars, unless noted) | | Three Months EndedJune 30, | | Six Months EndedJune 30, | | |\n| 2 | 2024 | 2023 | | 2024 | 2023 | | |\n| 3 | Revenues and other income | | | | | | |\n| 4 | Sales and other operating revenue | | 89,986 | | 80,795 | 170,397 | 164,439 |\n| 5 | Income from equity affiliates | | 1,744 | | 1,382 | 3,586 | 3,763 |\n| 6 | Other income | | 1,330 | | 737 | 2,160 | 1,276 |\n| 7 | Total revenues and other income | | 93,060 | | 82,914 | 176,143 | 169,478 |\n| 8 | Costs and other deductions | | | | | | |\n| 9 | Crude oil and product purchases | | 54,199 | | 47,598 | 101,800 | 93,601 |\n| 10 | Production and manufacturing expenses | | 9,804 | | 8,860 | 18,895 | 18,296 |\n| 11 | Selling, general and administrative expenses | | 2,568 | | 2,449 | 5,063 | 4,839 |\n| 12 | Depreciation and depletion (includes impairments) | | 5,787 | | 4,242 | 10,599 | 8,486 |\n| 13 | Exploration expenses, including dry holes | | 153 | | 133 | 301 | 274 |\n| 14 | Non-service pension and postretirement benefit expense | | 34 | | 164 | 57 | 331 |\n| 15 | Interest expense | | 271 | | 249 | 492 | 408 |\n| 16 | Other taxes and duties | | 6,579 | | 7,563 | 12,902 | 14,784 |\n| 17 | Total costs and other deductions | | 79,395 | | 71,258 | 150,109 | 141,019 |\n| 18 | Income (loss) before income taxes | | 13,665 | | 11,656 | 26,034 | 28,459 |\n| 19 | Income tax expense (benefit) | | 4,094 | | 3,503 | 7,897 | 8,463 |\n| 20 | Net income (loss) including noncontrolling interests | | 9,571 | | 8,153 | 18,137 | 19,996 |\n| 21 | Net income (loss) attributable to noncontrolling interests | | 331 | | 273 | 677 | 686 |\n| 22 | Net income (loss) attributable to ExxonMobil | | 9,240 | | 7,880 | 17,460 | 19,310 |\n| 24 | Earnings (loss) per common share (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 26 | Earnings (loss) per common share - assuming dilution (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 28 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | | | | |\n3\n\n\n\n\n, \n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_html_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 3: \nPART I. FINANCIAL INFORMATION\n\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ITEM 1. FINANCIAL STATEMENTS<\/td><\/td><\/td><\/tr><\/table>\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED STATEMENT OF INCOME<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>Three Months EndedJune 30,<\/td><\/td>Six Months EndedJune 30,<\/td><\/tr>
2024<\/td>2023<\/td><\/td>2024<\/td>2023<\/td><\/tr>
Revenues and other income<\/td><\/td> <\/td> <\/td><\/td><\/td><\/td><\/tr>
Sales and other operating revenue<\/td><\/td>89,986 <\/td><\/td>80,795 <\/td><\/td><\/td>170,397 <\/td><\/td>164,439 <\/td><\/td><\/tr>
Income from equity affiliates<\/td><\/td>1,744 <\/td><\/td>1,382 <\/td><\/td><\/td>3,586 <\/td><\/td>3,763 <\/td><\/td><\/tr>
Other income<\/td><\/td>1,330 <\/td><\/td>737 <\/td><\/td><\/td>2,160 <\/td><\/td>1,276 <\/td><\/td><\/tr>
Total revenues and other income<\/td><\/td>93,060 <\/td><\/td>82,914 <\/td><\/td><\/td>176,143 <\/td><\/td>169,478 <\/td><\/td><\/tr>
Costs and other deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil and product purchases<\/td><\/td>54,199 <\/td><\/td>47,598 <\/td><\/td><\/td>101,800 <\/td><\/td>93,601 <\/td><\/td><\/tr>
Production and manufacturing expenses<\/td><\/td>9,804 <\/td><\/td>8,860 <\/td><\/td><\/td>18,895 <\/td><\/td>18,296 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td>2,568 <\/td><\/td>2,449 <\/td><\/td><\/td>5,063 <\/td><\/td>4,839 <\/td><\/td><\/tr>
Depreciation and depletion (includes impairments)<\/td><\/td>5,787 <\/td><\/td>4,242 <\/td><\/td><\/td>10,599 <\/td><\/td>8,486 <\/td><\/td><\/tr>
Exploration expenses, including dry holes<\/td><\/td>153 <\/td><\/td>133 <\/td><\/td><\/td>301 <\/td><\/td>274 <\/td><\/td><\/tr>
Non-service pension and postretirement benefit expense<\/td><\/td>34 <\/td><\/td>164 <\/td><\/td><\/td>57 <\/td><\/td>331 <\/td><\/td><\/tr>
Interest expense<\/td><\/td>271 <\/td><\/td>249 <\/td><\/td><\/td>492 <\/td><\/td>408 <\/td><\/td><\/tr>
Other taxes and duties<\/td><\/td>6,579 <\/td><\/td>7,563 <\/td><\/td><\/td>12,902 <\/td><\/td>14,784 <\/td><\/td><\/tr>
Total costs and other deductions<\/td><\/td>79,395 <\/td><\/td>71,258 <\/td><\/td><\/td>150,109 <\/td><\/td>141,019 <\/td><\/td><\/tr>
Income (loss) before income taxes<\/td><\/td>13,665 <\/td><\/td>11,656 <\/td><\/td><\/td>26,034 <\/td><\/td>28,459 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td><\/td>4,094 <\/td><\/td>3,503 <\/td><\/td><\/td>7,897 <\/td><\/td>8,463 <\/td><\/td><\/tr>
Net income (loss) including noncontrolling interests<\/td><\/td>9,571 <\/td><\/td>8,153 <\/td><\/td><\/td>18,137 <\/td><\/td>19,996 <\/td><\/td><\/tr>
Net income (loss) attributable to noncontrolling interests<\/td><\/td>331 <\/td><\/td>273 <\/td><\/td><\/td>677 <\/td><\/td>686 <\/td><\/td><\/tr>
Net income (loss) attributable to ExxonMobil<\/td><\/td>9,240 <\/td><\/td>7,880 <\/td><\/td><\/td>17,460 <\/td><\/td>19,310 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share - assuming dilution (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/tr><\/table>3\n\n\n\n\n, EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION\n\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ITEM 1. FINANCIAL STATEMENTS<\/td><\/td><\/td><\/tr><\/table>\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED STATEMENT OF INCOME<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>Three Months EndedJune 30,<\/td><\/td>Six Months EndedJune 30,<\/td><\/tr>
2024<\/td>2023<\/td><\/td>2024<\/td>2023<\/td><\/tr>
Revenues and other income<\/td><\/td> <\/td> <\/td><\/td><\/td><\/td><\/tr>
Sales and other operating revenue<\/td><\/td>89,986 <\/td><\/td>80,795 <\/td><\/td><\/td>170,397 <\/td><\/td>164,439 <\/td><\/td><\/tr>
Income from equity affiliates<\/td><\/td>1,744 <\/td><\/td>1,382 <\/td><\/td><\/td>3,586 <\/td><\/td>3,763 <\/td><\/td><\/tr>
Other income<\/td><\/td>1,330 <\/td><\/td>737 <\/td><\/td><\/td>2,160 <\/td><\/td>1,276 <\/td><\/td><\/tr>
Total revenues and other income<\/td><\/td>93,060 <\/td><\/td>82,914 <\/td><\/td><\/td>176,143 <\/td><\/td>169,478 <\/td><\/td><\/tr>
Costs and other deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil and product purchases<\/td><\/td>54,199 <\/td><\/td>47,598 <\/td><\/td><\/td>101,800 <\/td><\/td>93,601 <\/td><\/td><\/tr>
Production and manufacturing expenses<\/td><\/td>9,804 <\/td><\/td>8,860 <\/td><\/td><\/td>18,895 <\/td><\/td>18,296 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td>2,568 <\/td><\/td>2,449 <\/td><\/td><\/td>5,063 <\/td><\/td>4,839 <\/td><\/td><\/tr>
Depreciation and depletion (includes impairments)<\/td><\/td>5,787 <\/td><\/td>4,242 <\/td><\/td><\/td>10,599 <\/td><\/td>8,486 <\/td><\/td><\/tr>
Exploration expenses, including dry holes<\/td><\/td>153 <\/td><\/td>133 <\/td><\/td><\/td>301 <\/td><\/td>274 <\/td><\/td><\/tr>
Non-service pension and postretirement benefit expense<\/td><\/td>34 <\/td><\/td>164 <\/td><\/td><\/td>57 <\/td><\/td>331 <\/td><\/td><\/tr>
Interest expense<\/td><\/td>271 <\/td><\/td>249 <\/td><\/td><\/td>492 <\/td><\/td>408 <\/td><\/td><\/tr>
Other taxes and duties<\/td><\/td>6,579 <\/td><\/td>7,563 <\/td><\/td><\/td>12,902 <\/td><\/td>14,784 <\/td><\/td><\/tr>
Total costs and other deductions<\/td><\/td>79,395 <\/td><\/td>71,258 <\/td><\/td><\/td>150,109 <\/td><\/td>141,019 <\/td><\/td><\/tr>
Income (loss) before income taxes<\/td><\/td>13,665 <\/td><\/td>11,656 <\/td><\/td><\/td>26,034 <\/td><\/td>28,459 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td><\/td>4,094 <\/td><\/td>3,503 <\/td><\/td><\/td>7,897 <\/td><\/td>8,463 <\/td><\/td><\/tr>
Net income (loss) including noncontrolling interests<\/td><\/td>9,571 <\/td><\/td>8,153 <\/td><\/td><\/td>18,137 <\/td><\/td>19,996 <\/td><\/td><\/tr>
Net income (loss) attributable to noncontrolling interests<\/td><\/td>331 <\/td><\/td>273 <\/td><\/td><\/td>677 <\/td><\/td>686 <\/td><\/td><\/tr>
Net income (loss) attributable to ExxonMobil<\/td><\/td>9,240 <\/td><\/td>7,880 <\/td><\/td><\/td>17,460 <\/td><\/td>19,310 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share - assuming dilution (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/tr><\/table>3\n\n\n\n\n, \n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n"} +{"QID":"q_Ra130","Question":"What is ExxonMobil\u2019s debt-to-equity ratio as of June 30, 2024?","ground_truth_answer":"Debt-to-Equity\u00a0Ratio= Total\u00a0Debt\/Total\u00a0Equity = (36,565+6,621)\/276,266 =0.16\nThis indicates a low reliance on debt in ExxonMobil\u2019s capital structure.","question_type":"Ratio","page_number":5,"accession_number":"0000034088-24-000050","item":"Item 1. Financial Statements","context_markdown_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_html_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n","context_html_without_headers":"\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n"} +{"QID":"q_Ra131","Question":"Calculate ExxonMobil\u2019s ROA for the six months ended June 30, 2024.","ground_truth_answer":"ROA= Net\u00a0Income\/ Total\u00a0Assets \u00d7100= 17,460\/460,707 \u00d7100=3.79%\nROA indicates ExxonMobil's efficiency in generating profit from its assets.","question_type":"Ratio","page_number":"3, 5","accession_number":"0000034088-24-000050","item":"Item 1. Financial Statements","context_markdown_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 3: \nPART I. FINANCIAL INFORMATION\n\n\n| | |\n|---:|:-----------------------------|\n| 1 | ITEM 1. FINANCIAL STATEMENTS |\n\n\n| | |\n|---:|:-------------------------------------------|\n| 2 | CONDENSED CONSOLIDATED STATEMENT OF INCOME |\n\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----|:---------------------------|:-----|:-------------------------|:--------|:--------|\n| 1 | (millions of dollars, unless noted) | | Three Months EndedJune 30, | | Six Months EndedJune 30, | | |\n| 2 | 2024 | 2023 | | 2024 | 2023 | | |\n| 3 | Revenues and other income | | | | | | |\n| 4 | Sales and other operating revenue | | 89,986 | | 80,795 | 170,397 | 164,439 |\n| 5 | Income from equity affiliates | | 1,744 | | 1,382 | 3,586 | 3,763 |\n| 6 | Other income | | 1,330 | | 737 | 2,160 | 1,276 |\n| 7 | Total revenues and other income | | 93,060 | | 82,914 | 176,143 | 169,478 |\n| 8 | Costs and other deductions | | | | | | |\n| 9 | Crude oil and product purchases | | 54,199 | | 47,598 | 101,800 | 93,601 |\n| 10 | Production and manufacturing expenses | | 9,804 | | 8,860 | 18,895 | 18,296 |\n| 11 | Selling, general and administrative expenses | | 2,568 | | 2,449 | 5,063 | 4,839 |\n| 12 | Depreciation and depletion (includes impairments) | | 5,787 | | 4,242 | 10,599 | 8,486 |\n| 13 | Exploration expenses, including dry holes | | 153 | | 133 | 301 | 274 |\n| 14 | Non-service pension and postretirement benefit expense | | 34 | | 164 | 57 | 331 |\n| 15 | Interest expense | | 271 | | 249 | 492 | 408 |\n| 16 | Other taxes and duties | | 6,579 | | 7,563 | 12,902 | 14,784 |\n| 17 | Total costs and other deductions | | 79,395 | | 71,258 | 150,109 | 141,019 |\n| 18 | Income (loss) before income taxes | | 13,665 | | 11,656 | 26,034 | 28,459 |\n| 19 | Income tax expense (benefit) | | 4,094 | | 3,503 | 7,897 | 8,463 |\n| 20 | Net income (loss) including noncontrolling interests | | 9,571 | | 8,153 | 18,137 | 19,996 |\n| 21 | Net income (loss) attributable to noncontrolling interests | | 331 | | 273 | 677 | 686 |\n| 22 | Net income (loss) attributable to ExxonMobil | | 9,240 | | 7,880 | 17,460 | 19,310 |\n| 24 | Earnings (loss) per common share (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 26 | Earnings (loss) per common share - assuming dilution (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 28 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | | | | |\n3\n\n\n\n\n, EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION\n\n\n| | |\n|---:|:-----------------------------|\n| 1 | ITEM 1. FINANCIAL STATEMENTS |\n\n\n| | |\n|---:|:-------------------------------------------|\n| 2 | CONDENSED CONSOLIDATED STATEMENT OF INCOME |\n\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----|:---------------------------|:-----|:-------------------------|:--------|:--------|\n| 1 | (millions of dollars, unless noted) | | Three Months EndedJune 30, | | Six Months EndedJune 30, | | |\n| 2 | 2024 | 2023 | | 2024 | 2023 | | |\n| 3 | Revenues and other income | | | | | | |\n| 4 | Sales and other operating revenue | | 89,986 | | 80,795 | 170,397 | 164,439 |\n| 5 | Income from equity affiliates | | 1,744 | | 1,382 | 3,586 | 3,763 |\n| 6 | Other income | | 1,330 | | 737 | 2,160 | 1,276 |\n| 7 | Total revenues and other income | | 93,060 | | 82,914 | 176,143 | 169,478 |\n| 8 | Costs and other deductions | | | | | | |\n| 9 | Crude oil and product purchases | | 54,199 | | 47,598 | 101,800 | 93,601 |\n| 10 | Production and manufacturing expenses | | 9,804 | | 8,860 | 18,895 | 18,296 |\n| 11 | Selling, general and administrative expenses | | 2,568 | | 2,449 | 5,063 | 4,839 |\n| 12 | Depreciation and depletion (includes impairments) | | 5,787 | | 4,242 | 10,599 | 8,486 |\n| 13 | Exploration expenses, including dry holes | | 153 | | 133 | 301 | 274 |\n| 14 | Non-service pension and postretirement benefit expense | | 34 | | 164 | 57 | 331 |\n| 15 | Interest expense | | 271 | | 249 | 492 | 408 |\n| 16 | Other taxes and duties | | 6,579 | | 7,563 | 12,902 | 14,784 |\n| 17 | Total costs and other deductions | | 79,395 | | 71,258 | 150,109 | 141,019 |\n| 18 | Income (loss) before income taxes | | 13,665 | | 11,656 | 26,034 | 28,459 |\n| 19 | Income tax expense (benefit) | | 4,094 | | 3,503 | 7,897 | 8,463 |\n| 20 | Net income (loss) including noncontrolling interests | | 9,571 | | 8,153 | 18,137 | 19,996 |\n| 21 | Net income (loss) attributable to noncontrolling interests | | 331 | | 273 | 677 | 686 |\n| 22 | Net income (loss) attributable to ExxonMobil | | 9,240 | | 7,880 | 17,460 | 19,310 |\n| 24 | Earnings (loss) per common share (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 26 | Earnings (loss) per common share - assuming dilution (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 28 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | | | | |\n3\n\n\n\n\n, \n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_html_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 3: \nPART I. FINANCIAL INFORMATION\n\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ITEM 1. FINANCIAL STATEMENTS<\/td><\/td><\/td><\/tr><\/table>\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED STATEMENT OF INCOME<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>Three Months EndedJune 30,<\/td><\/td>Six Months EndedJune 30,<\/td><\/tr>
2024<\/td>2023<\/td><\/td>2024<\/td>2023<\/td><\/tr>
Revenues and other income<\/td><\/td> <\/td> <\/td><\/td><\/td><\/td><\/tr>
Sales and other operating revenue<\/td><\/td>89,986 <\/td><\/td>80,795 <\/td><\/td><\/td>170,397 <\/td><\/td>164,439 <\/td><\/td><\/tr>
Income from equity affiliates<\/td><\/td>1,744 <\/td><\/td>1,382 <\/td><\/td><\/td>3,586 <\/td><\/td>3,763 <\/td><\/td><\/tr>
Other income<\/td><\/td>1,330 <\/td><\/td>737 <\/td><\/td><\/td>2,160 <\/td><\/td>1,276 <\/td><\/td><\/tr>
Total revenues and other income<\/td><\/td>93,060 <\/td><\/td>82,914 <\/td><\/td><\/td>176,143 <\/td><\/td>169,478 <\/td><\/td><\/tr>
Costs and other deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil and product purchases<\/td><\/td>54,199 <\/td><\/td>47,598 <\/td><\/td><\/td>101,800 <\/td><\/td>93,601 <\/td><\/td><\/tr>
Production and manufacturing expenses<\/td><\/td>9,804 <\/td><\/td>8,860 <\/td><\/td><\/td>18,895 <\/td><\/td>18,296 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td>2,568 <\/td><\/td>2,449 <\/td><\/td><\/td>5,063 <\/td><\/td>4,839 <\/td><\/td><\/tr>
Depreciation and depletion (includes impairments)<\/td><\/td>5,787 <\/td><\/td>4,242 <\/td><\/td><\/td>10,599 <\/td><\/td>8,486 <\/td><\/td><\/tr>
Exploration expenses, including dry holes<\/td><\/td>153 <\/td><\/td>133 <\/td><\/td><\/td>301 <\/td><\/td>274 <\/td><\/td><\/tr>
Non-service pension and postretirement benefit expense<\/td><\/td>34 <\/td><\/td>164 <\/td><\/td><\/td>57 <\/td><\/td>331 <\/td><\/td><\/tr>
Interest expense<\/td><\/td>271 <\/td><\/td>249 <\/td><\/td><\/td>492 <\/td><\/td>408 <\/td><\/td><\/tr>
Other taxes and duties<\/td><\/td>6,579 <\/td><\/td>7,563 <\/td><\/td><\/td>12,902 <\/td><\/td>14,784 <\/td><\/td><\/tr>
Total costs and other deductions<\/td><\/td>79,395 <\/td><\/td>71,258 <\/td><\/td><\/td>150,109 <\/td><\/td>141,019 <\/td><\/td><\/tr>
Income (loss) before income taxes<\/td><\/td>13,665 <\/td><\/td>11,656 <\/td><\/td><\/td>26,034 <\/td><\/td>28,459 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td><\/td>4,094 <\/td><\/td>3,503 <\/td><\/td><\/td>7,897 <\/td><\/td>8,463 <\/td><\/td><\/tr>
Net income (loss) including noncontrolling interests<\/td><\/td>9,571 <\/td><\/td>8,153 <\/td><\/td><\/td>18,137 <\/td><\/td>19,996 <\/td><\/td><\/tr>
Net income (loss) attributable to noncontrolling interests<\/td><\/td>331 <\/td><\/td>273 <\/td><\/td><\/td>677 <\/td><\/td>686 <\/td><\/td><\/tr>
Net income (loss) attributable to ExxonMobil<\/td><\/td>9,240 <\/td><\/td>7,880 <\/td><\/td><\/td>17,460 <\/td><\/td>19,310 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share - assuming dilution (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/tr><\/table>3\n\n\n\n\n, EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION\n\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ITEM 1. FINANCIAL STATEMENTS<\/td><\/td><\/td><\/tr><\/table>\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED STATEMENT OF INCOME<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>Three Months EndedJune 30,<\/td><\/td>Six Months EndedJune 30,<\/td><\/tr>
2024<\/td>2023<\/td><\/td>2024<\/td>2023<\/td><\/tr>
Revenues and other income<\/td><\/td> <\/td> <\/td><\/td><\/td><\/td><\/tr>
Sales and other operating revenue<\/td><\/td>89,986 <\/td><\/td>80,795 <\/td><\/td><\/td>170,397 <\/td><\/td>164,439 <\/td><\/td><\/tr>
Income from equity affiliates<\/td><\/td>1,744 <\/td><\/td>1,382 <\/td><\/td><\/td>3,586 <\/td><\/td>3,763 <\/td><\/td><\/tr>
Other income<\/td><\/td>1,330 <\/td><\/td>737 <\/td><\/td><\/td>2,160 <\/td><\/td>1,276 <\/td><\/td><\/tr>
Total revenues and other income<\/td><\/td>93,060 <\/td><\/td>82,914 <\/td><\/td><\/td>176,143 <\/td><\/td>169,478 <\/td><\/td><\/tr>
Costs and other deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil and product purchases<\/td><\/td>54,199 <\/td><\/td>47,598 <\/td><\/td><\/td>101,800 <\/td><\/td>93,601 <\/td><\/td><\/tr>
Production and manufacturing expenses<\/td><\/td>9,804 <\/td><\/td>8,860 <\/td><\/td><\/td>18,895 <\/td><\/td>18,296 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td>2,568 <\/td><\/td>2,449 <\/td><\/td><\/td>5,063 <\/td><\/td>4,839 <\/td><\/td><\/tr>
Depreciation and depletion (includes impairments)<\/td><\/td>5,787 <\/td><\/td>4,242 <\/td><\/td><\/td>10,599 <\/td><\/td>8,486 <\/td><\/td><\/tr>
Exploration expenses, including dry holes<\/td><\/td>153 <\/td><\/td>133 <\/td><\/td><\/td>301 <\/td><\/td>274 <\/td><\/td><\/tr>
Non-service pension and postretirement benefit expense<\/td><\/td>34 <\/td><\/td>164 <\/td><\/td><\/td>57 <\/td><\/td>331 <\/td><\/td><\/tr>
Interest expense<\/td><\/td>271 <\/td><\/td>249 <\/td><\/td><\/td>492 <\/td><\/td>408 <\/td><\/td><\/tr>
Other taxes and duties<\/td><\/td>6,579 <\/td><\/td>7,563 <\/td><\/td><\/td>12,902 <\/td><\/td>14,784 <\/td><\/td><\/tr>
Total costs and other deductions<\/td><\/td>79,395 <\/td><\/td>71,258 <\/td><\/td><\/td>150,109 <\/td><\/td>141,019 <\/td><\/td><\/tr>
Income (loss) before income taxes<\/td><\/td>13,665 <\/td><\/td>11,656 <\/td><\/td><\/td>26,034 <\/td><\/td>28,459 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td><\/td>4,094 <\/td><\/td>3,503 <\/td><\/td><\/td>7,897 <\/td><\/td>8,463 <\/td><\/td><\/tr>
Net income (loss) including noncontrolling interests<\/td><\/td>9,571 <\/td><\/td>8,153 <\/td><\/td><\/td>18,137 <\/td><\/td>19,996 <\/td><\/td><\/tr>
Net income (loss) attributable to noncontrolling interests<\/td><\/td>331 <\/td><\/td>273 <\/td><\/td><\/td>677 <\/td><\/td>686 <\/td><\/td><\/tr>
Net income (loss) attributable to ExxonMobil<\/td><\/td>9,240 <\/td><\/td>7,880 <\/td><\/td><\/td>17,460 <\/td><\/td>19,310 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share - assuming dilution (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/tr><\/table>3\n\n\n\n\n, \n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n"} +{"QID":"q_Ra132","Question":"What is ExxonMobil's ROE as of June 30, 2024?","ground_truth_answer":"ROE= Net\u00a0Income\/Total\u00a0Equity \u00d7100= 17,460 \/ 276,266 \u00d7100=6.32%\nROE indicates the return generated on shareholders' equity invested in ExxonMobil.","question_type":"Ratio","page_number":"3, 5","accession_number":"0000034088-24-000050","item":"Item 1. Financial Statements","context_markdown_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 3: \nPART I. FINANCIAL INFORMATION\n\n\n| | |\n|---:|:-----------------------------|\n| 1 | ITEM 1. FINANCIAL STATEMENTS |\n\n\n| | |\n|---:|:-------------------------------------------|\n| 2 | CONDENSED CONSOLIDATED STATEMENT OF INCOME |\n\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----|:---------------------------|:-----|:-------------------------|:--------|:--------|\n| 1 | (millions of dollars, unless noted) | | Three Months EndedJune 30, | | Six Months EndedJune 30, | | |\n| 2 | 2024 | 2023 | | 2024 | 2023 | | |\n| 3 | Revenues and other income | | | | | | |\n| 4 | Sales and other operating revenue | | 89,986 | | 80,795 | 170,397 | 164,439 |\n| 5 | Income from equity affiliates | | 1,744 | | 1,382 | 3,586 | 3,763 |\n| 6 | Other income | | 1,330 | | 737 | 2,160 | 1,276 |\n| 7 | Total revenues and other income | | 93,060 | | 82,914 | 176,143 | 169,478 |\n| 8 | Costs and other deductions | | | | | | |\n| 9 | Crude oil and product purchases | | 54,199 | | 47,598 | 101,800 | 93,601 |\n| 10 | Production and manufacturing expenses | | 9,804 | | 8,860 | 18,895 | 18,296 |\n| 11 | Selling, general and administrative expenses | | 2,568 | | 2,449 | 5,063 | 4,839 |\n| 12 | Depreciation and depletion (includes impairments) | | 5,787 | | 4,242 | 10,599 | 8,486 |\n| 13 | Exploration expenses, including dry holes | | 153 | | 133 | 301 | 274 |\n| 14 | Non-service pension and postretirement benefit expense | | 34 | | 164 | 57 | 331 |\n| 15 | Interest expense | | 271 | | 249 | 492 | 408 |\n| 16 | Other taxes and duties | | 6,579 | | 7,563 | 12,902 | 14,784 |\n| 17 | Total costs and other deductions | | 79,395 | | 71,258 | 150,109 | 141,019 |\n| 18 | Income (loss) before income taxes | | 13,665 | | 11,656 | 26,034 | 28,459 |\n| 19 | Income tax expense (benefit) | | 4,094 | | 3,503 | 7,897 | 8,463 |\n| 20 | Net income (loss) including noncontrolling interests | | 9,571 | | 8,153 | 18,137 | 19,996 |\n| 21 | Net income (loss) attributable to noncontrolling interests | | 331 | | 273 | 677 | 686 |\n| 22 | Net income (loss) attributable to ExxonMobil | | 9,240 | | 7,880 | 17,460 | 19,310 |\n| 24 | Earnings (loss) per common share (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 26 | Earnings (loss) per common share - assuming dilution (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 28 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | | | | |\n3\n\n\n\n\n, EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_markdown_without_headers":"\nPART I. FINANCIAL INFORMATION\n\n\n| | |\n|---:|:-----------------------------|\n| 1 | ITEM 1. FINANCIAL STATEMENTS |\n\n\n| | |\n|---:|:-------------------------------------------|\n| 2 | CONDENSED CONSOLIDATED STATEMENT OF INCOME |\n\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----|:---------------------------|:-----|:-------------------------|:--------|:--------|\n| 1 | (millions of dollars, unless noted) | | Three Months EndedJune 30, | | Six Months EndedJune 30, | | |\n| 2 | 2024 | 2023 | | 2024 | 2023 | | |\n| 3 | Revenues and other income | | | | | | |\n| 4 | Sales and other operating revenue | | 89,986 | | 80,795 | 170,397 | 164,439 |\n| 5 | Income from equity affiliates | | 1,744 | | 1,382 | 3,586 | 3,763 |\n| 6 | Other income | | 1,330 | | 737 | 2,160 | 1,276 |\n| 7 | Total revenues and other income | | 93,060 | | 82,914 | 176,143 | 169,478 |\n| 8 | Costs and other deductions | | | | | | |\n| 9 | Crude oil and product purchases | | 54,199 | | 47,598 | 101,800 | 93,601 |\n| 10 | Production and manufacturing expenses | | 9,804 | | 8,860 | 18,895 | 18,296 |\n| 11 | Selling, general and administrative expenses | | 2,568 | | 2,449 | 5,063 | 4,839 |\n| 12 | Depreciation and depletion (includes impairments) | | 5,787 | | 4,242 | 10,599 | 8,486 |\n| 13 | Exploration expenses, including dry holes | | 153 | | 133 | 301 | 274 |\n| 14 | Non-service pension and postretirement benefit expense | | 34 | | 164 | 57 | 331 |\n| 15 | Interest expense | | 271 | | 249 | 492 | 408 |\n| 16 | Other taxes and duties | | 6,579 | | 7,563 | 12,902 | 14,784 |\n| 17 | Total costs and other deductions | | 79,395 | | 71,258 | 150,109 | 141,019 |\n| 18 | Income (loss) before income taxes | | 13,665 | | 11,656 | 26,034 | 28,459 |\n| 19 | Income tax expense (benefit) | | 4,094 | | 3,503 | 7,897 | 8,463 |\n| 20 | Net income (loss) including noncontrolling interests | | 9,571 | | 8,153 | 18,137 | 19,996 |\n| 21 | Net income (loss) attributable to noncontrolling interests | | 331 | | 273 | 677 | 686 |\n| 22 | Net income (loss) attributable to ExxonMobil | | 9,240 | | 7,880 | 17,460 | 19,310 |\n| 24 | Earnings (loss) per common share (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 26 | Earnings (loss) per common share - assuming dilution (dollars) | | 2.14 | | 1.94 | 4.20 | 4.73 |\n| 28 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | | | | |\n3\n\n\n\n\n, \n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_html_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 3: \nPART I. FINANCIAL INFORMATION\n\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ITEM 1. FINANCIAL STATEMENTS<\/td><\/td><\/td><\/tr><\/table>\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED STATEMENT OF INCOME<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>Three Months EndedJune 30,<\/td><\/td>Six Months EndedJune 30,<\/td><\/tr>
2024<\/td>2023<\/td><\/td>2024<\/td>2023<\/td><\/tr>
Revenues and other income<\/td><\/td> <\/td> <\/td><\/td><\/td><\/td><\/tr>
Sales and other operating revenue<\/td><\/td>89,986 <\/td><\/td>80,795 <\/td><\/td><\/td>170,397 <\/td><\/td>164,439 <\/td><\/td><\/tr>
Income from equity affiliates<\/td><\/td>1,744 <\/td><\/td>1,382 <\/td><\/td><\/td>3,586 <\/td><\/td>3,763 <\/td><\/td><\/tr>
Other income<\/td><\/td>1,330 <\/td><\/td>737 <\/td><\/td><\/td>2,160 <\/td><\/td>1,276 <\/td><\/td><\/tr>
Total revenues and other income<\/td><\/td>93,060 <\/td><\/td>82,914 <\/td><\/td><\/td>176,143 <\/td><\/td>169,478 <\/td><\/td><\/tr>
Costs and other deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil and product purchases<\/td><\/td>54,199 <\/td><\/td>47,598 <\/td><\/td><\/td>101,800 <\/td><\/td>93,601 <\/td><\/td><\/tr>
Production and manufacturing expenses<\/td><\/td>9,804 <\/td><\/td>8,860 <\/td><\/td><\/td>18,895 <\/td><\/td>18,296 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td>2,568 <\/td><\/td>2,449 <\/td><\/td><\/td>5,063 <\/td><\/td>4,839 <\/td><\/td><\/tr>
Depreciation and depletion (includes impairments)<\/td><\/td>5,787 <\/td><\/td>4,242 <\/td><\/td><\/td>10,599 <\/td><\/td>8,486 <\/td><\/td><\/tr>
Exploration expenses, including dry holes<\/td><\/td>153 <\/td><\/td>133 <\/td><\/td><\/td>301 <\/td><\/td>274 <\/td><\/td><\/tr>
Non-service pension and postretirement benefit expense<\/td><\/td>34 <\/td><\/td>164 <\/td><\/td><\/td>57 <\/td><\/td>331 <\/td><\/td><\/tr>
Interest expense<\/td><\/td>271 <\/td><\/td>249 <\/td><\/td><\/td>492 <\/td><\/td>408 <\/td><\/td><\/tr>
Other taxes and duties<\/td><\/td>6,579 <\/td><\/td>7,563 <\/td><\/td><\/td>12,902 <\/td><\/td>14,784 <\/td><\/td><\/tr>
Total costs and other deductions<\/td><\/td>79,395 <\/td><\/td>71,258 <\/td><\/td><\/td>150,109 <\/td><\/td>141,019 <\/td><\/td><\/tr>
Income (loss) before income taxes<\/td><\/td>13,665 <\/td><\/td>11,656 <\/td><\/td><\/td>26,034 <\/td><\/td>28,459 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td><\/td>4,094 <\/td><\/td>3,503 <\/td><\/td><\/td>7,897 <\/td><\/td>8,463 <\/td><\/td><\/tr>
Net income (loss) including noncontrolling interests<\/td><\/td>9,571 <\/td><\/td>8,153 <\/td><\/td><\/td>18,137 <\/td><\/td>19,996 <\/td><\/td><\/tr>
Net income (loss) attributable to noncontrolling interests<\/td><\/td>331 <\/td><\/td>273 <\/td><\/td><\/td>677 <\/td><\/td>686 <\/td><\/td><\/tr>
Net income (loss) attributable to ExxonMobil<\/td><\/td>9,240 <\/td><\/td>7,880 <\/td><\/td><\/td>17,460 <\/td><\/td>19,310 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share - assuming dilution (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/tr><\/table>3\n\n\n\n\n, EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n","context_html_without_headers":"\nPART I. FINANCIAL INFORMATION\n\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ITEM 1. FINANCIAL STATEMENTS<\/td><\/td><\/td><\/tr><\/table>\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED STATEMENT OF INCOME<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>Three Months EndedJune 30,<\/td><\/td>Six Months EndedJune 30,<\/td><\/tr>
2024<\/td>2023<\/td><\/td>2024<\/td>2023<\/td><\/tr>
Revenues and other income<\/td><\/td> <\/td> <\/td><\/td><\/td><\/td><\/tr>
Sales and other operating revenue<\/td><\/td>89,986 <\/td><\/td>80,795 <\/td><\/td><\/td>170,397 <\/td><\/td>164,439 <\/td><\/td><\/tr>
Income from equity affiliates<\/td><\/td>1,744 <\/td><\/td>1,382 <\/td><\/td><\/td>3,586 <\/td><\/td>3,763 <\/td><\/td><\/tr>
Other income<\/td><\/td>1,330 <\/td><\/td>737 <\/td><\/td><\/td>2,160 <\/td><\/td>1,276 <\/td><\/td><\/tr>
Total revenues and other income<\/td><\/td>93,060 <\/td><\/td>82,914 <\/td><\/td><\/td>176,143 <\/td><\/td>169,478 <\/td><\/td><\/tr>
Costs and other deductions<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil and product purchases<\/td><\/td>54,199 <\/td><\/td>47,598 <\/td><\/td><\/td>101,800 <\/td><\/td>93,601 <\/td><\/td><\/tr>
Production and manufacturing expenses<\/td><\/td>9,804 <\/td><\/td>8,860 <\/td><\/td><\/td>18,895 <\/td><\/td>18,296 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td><\/td>2,568 <\/td><\/td>2,449 <\/td><\/td><\/td>5,063 <\/td><\/td>4,839 <\/td><\/td><\/tr>
Depreciation and depletion (includes impairments)<\/td><\/td>5,787 <\/td><\/td>4,242 <\/td><\/td><\/td>10,599 <\/td><\/td>8,486 <\/td><\/td><\/tr>
Exploration expenses, including dry holes<\/td><\/td>153 <\/td><\/td>133 <\/td><\/td><\/td>301 <\/td><\/td>274 <\/td><\/td><\/tr>
Non-service pension and postretirement benefit expense<\/td><\/td>34 <\/td><\/td>164 <\/td><\/td><\/td>57 <\/td><\/td>331 <\/td><\/td><\/tr>
Interest expense<\/td><\/td>271 <\/td><\/td>249 <\/td><\/td><\/td>492 <\/td><\/td>408 <\/td><\/td><\/tr>
Other taxes and duties<\/td><\/td>6,579 <\/td><\/td>7,563 <\/td><\/td><\/td>12,902 <\/td><\/td>14,784 <\/td><\/td><\/tr>
Total costs and other deductions<\/td><\/td>79,395 <\/td><\/td>71,258 <\/td><\/td><\/td>150,109 <\/td><\/td>141,019 <\/td><\/td><\/tr>
Income (loss) before income taxes<\/td><\/td>13,665 <\/td><\/td>11,656 <\/td><\/td><\/td>26,034 <\/td><\/td>28,459 <\/td><\/td><\/tr>
Income tax expense (benefit)<\/td><\/td>4,094 <\/td><\/td>3,503 <\/td><\/td><\/td>7,897 <\/td><\/td>8,463 <\/td><\/td><\/tr>
Net income (loss) including noncontrolling interests<\/td><\/td>9,571 <\/td><\/td>8,153 <\/td><\/td><\/td>18,137 <\/td><\/td>19,996 <\/td><\/td><\/tr>
Net income (loss) attributable to noncontrolling interests<\/td><\/td>331 <\/td><\/td>273 <\/td><\/td><\/td>677 <\/td><\/td>686 <\/td><\/td><\/tr>
Net income (loss) attributable to ExxonMobil<\/td><\/td>9,240 <\/td><\/td>7,880 <\/td><\/td><\/td>17,460 <\/td><\/td>19,310 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings (loss) per common share - assuming dilution (dollars)<\/td><\/td>2.14 <\/td><\/td>1.94 <\/td><\/td><\/td>4.20 <\/td><\/td>4.73 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/tr><\/table>3\n\n\n\n\n, \n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n"} +{"QID":"q_Ra133","Question":"What is ExxonMobil\u2019s debt ratio as of June 30, 2024?","ground_truth_answer":"Debt\u00a0Ratio= Total\u00a0Debt\/Total\u00a0Assets (36,565+6,621)\/460,707 =0.094 = 9.4%. This low debt ratio reflects ExxonMobil\u2019s conservative approach to debt.","question_type":"Ratio","page_number":5,"accession_number":"0000034088-24-000050","item":"Item 1. Financial Statements","context_markdown_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:-------------------------------------|\n| 2 | CONDENSED CONSOLIDATED BALANCE SHEET |\n\n| | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|\n| 1 | (millions of dollars, unless noted) | June 30, 2024 | December 31, 2023 | |\n| 3 | ASSETS | | | |\n| 4 | Current assets | | | |\n| 5 | Cash and cash equivalents | 26,460 | | 31,539 |\n| 6 | Cash and cash equivalents \u2013 restricted | 28 | | 29 |\n| 7 | Notes and accounts receivable \u2013 net | 43,071 | | 38,015 |\n| 8 | Inventories | | | |\n| 9 | Crude oil, products and merchandise | 19,685 | | 20,528 |\n| 10 | Materials and supplies | 4,818 | | 4,592 |\n| 11 | Other current assets | 2,176 | | 1,906 |\n| 12 | Total current assets | 96,238 | | 96,609 |\n| 13 | Investments, advances and long-term receivables | 47,948 | | 47,630 |\n| 14 | Property, plant and equipment \u2013 net | 298,283 | | 214,940 |\n| 15 | Other assets, including intangibles \u2013 net | 18,238 | | 17,138 |\n| 16 | Total Assets | 460,707 | | 376,317 |\n| 18 | LIABILITIES | | | |\n| 19 | Current liabilities | | | |\n| 20 | Notes and loans payable | 6,621 | | 4,090 |\n| 21 | Accounts payable and accrued liabilities | 60,107 | | 58,037 |\n| 22 | Income taxes payable | 4,035 | | 3,189 |\n| 23 | Total current liabilities | 70,763 | | 65,316 |\n| 24 | Long-term debt | 36,565 | | 37,483 |\n| 25 | Postretirement benefits reserves | 10,398 | | 10,496 |\n| 26 | Deferred income tax liabilities | 40,080 | | 24,452 |\n| 27 | Long-term obligations to equity companies | 1,612 | | 1,804 |\n| 28 | Other long-term obligations | 25,023 | | 24,228 |\n| 29 | Total Liabilities | 184,441 | | 163,779 |\n| 31 | Commitments and contingencies (Note 3) | | | |\n| 33 | EQUITY | | | |\n| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | | 17,781 |\n| 35 | Earnings reinvested | 463,294 | | 453,927 |\n| 36 | Accumulated other comprehensive income | (13,187) | | (11,989) |\n| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023) | (228,483) | | (254,917) |\n| 38 | ExxonMobil share of equity | 268,405 | | 204,802 |\n| 39 | Noncontrolling interests | 7,861 | | 7,736 |\n| 40 | Total Equity | 276,266 | | 212,538 |\n| 41 | Total Liabilities and Equity | 460,707 | | 376,317 |\n| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. | | | |\n5\n\n\n\n\n","context_html_with_headers":"EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: \n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n","context_html_without_headers":"\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/tr>
CONDENSED CONSOLIDATED BALANCE SHEET<\/td><\/tr><\/table>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
(millions of dollars, unless noted)<\/td><\/td>June 30, 2024<\/td><\/td>December 31, 2023<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
ASSETS<\/td><\/td> <\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td> <\/td><\/td> <\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td><\/td>26,460 <\/td><\/td><\/td>31,539 <\/td><\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents \u2013 restricted<\/td><\/td>28 <\/td><\/td><\/td>29 <\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and accounts receivable \u2013 net<\/td><\/td>43,071 <\/td><\/td><\/td>38,015 <\/td><\/td><\/td><\/td><\/td><\/tr>
Inventories<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Crude oil, products and merchandise<\/td><\/td>19,685 <\/td><\/td><\/td>20,528 <\/td><\/td><\/td><\/td><\/td><\/tr>
Materials and supplies<\/td><\/td>4,818 <\/td><\/td><\/td>4,592 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other current assets<\/td><\/td>2,176 <\/td><\/td><\/td>1,906 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current assets<\/td><\/td>96,238 <\/td><\/td><\/td>96,609 <\/td><\/td><\/td><\/td><\/td><\/tr>
Investments, advances and long-term receivables<\/td><\/td>47,948 <\/td><\/td><\/td>47,630 <\/td><\/td><\/td><\/td><\/td><\/tr>
Property, plant and equipment \u2013 net<\/td><\/td>298,283 <\/td><\/td><\/td>214,940 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other assets, including intangibles \u2013 net<\/td><\/td>18,238 <\/td><\/td><\/td>17,138 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Assets<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
LIABILITIES<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Notes and loans payable<\/td><\/td>6,621 <\/td><\/td><\/td>4,090 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accounts payable and accrued liabilities<\/td><\/td>60,107 <\/td><\/td><\/td>58,037 <\/td><\/td><\/td><\/td><\/td><\/tr>
Income taxes payable<\/td><\/td>4,035 <\/td><\/td><\/td>3,189 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total current liabilities<\/td><\/td>70,763 <\/td><\/td><\/td>65,316 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term debt<\/td><\/td>36,565 <\/td><\/td><\/td>37,483 <\/td><\/td><\/td><\/td><\/td><\/tr>
Postretirement benefits reserves<\/td><\/td>10,398 <\/td><\/td><\/td>10,496 <\/td><\/td><\/td><\/td><\/td><\/tr>
Deferred income tax liabilities<\/td><\/td>40,080 <\/td><\/td><\/td>24,452 <\/td><\/td><\/td><\/td><\/td><\/tr>
Long-term obligations to equity companies<\/td><\/td>1,612 <\/td><\/td><\/td>1,804 <\/td><\/td><\/td><\/td><\/td><\/tr>
Other long-term obligations<\/td><\/td>25,023 <\/td><\/td><\/td>24,228 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities<\/td><\/td>184,441 <\/td><\/td><\/td>163,779 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies (Note 3)<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
EQUITY<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)<\/td><\/td>46,781 <\/td><\/td><\/td>17,781 <\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings reinvested<\/td><\/td>463,294 <\/td><\/td><\/td>453,927 <\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income<\/td><\/td>(13,187)<\/td><\/td><\/td>(11,989)<\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)<\/td><\/td>(228,483)<\/td><\/td><\/td>(254,917)<\/td><\/td><\/td><\/td><\/td><\/tr>
ExxonMobil share of equity<\/td><\/td>268,405 <\/td><\/td><\/td>204,802 <\/td><\/td><\/td><\/td><\/td><\/tr>
Noncontrolling interests<\/td><\/td>7,861 <\/td><\/td><\/td>7,736 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Equity<\/td><\/td>276,266 <\/td><\/td><\/td>212,538 <\/td><\/td><\/td><\/td><\/td><\/tr>
Total Liabilities and Equity<\/td><\/td>460,707 <\/td><\/td><\/td>376,317 <\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.<\/td><\/td><\/td><\/td><\/tr><\/table>5\n\n\n\n\n"} +{"QID":"q_Ra134","Question":" What is the Earnings Per Share (EPS) for Apple Inc. for the nine months ended June 29, 2024?","ground_truth_answer":"The Earnings Per Share (EPS) for Apple Inc. for the nine months ended June 29, 2024, is $5.11 (diluted)","question_type":"Ratio","page_number":1,"accession_number":"0000320193-24-000081","item":"Item 1. Financial Statements","context_markdown_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:------------------|:-----------|:-------------|:-------|:------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Nine Months Ended | | | | | | | | |\n| 2 | | June 29,2024 | | July 1,2023 | | June 29,2024 | | July 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 61,564 | | | $ | 60,584 | | $ | 224,908 | $ | 230,901 |\n| 5 | Services | 24,213 | | | 21,213 | | | 71,197 | | 62,886 | | |\n| 6 | Total net sales | 85,777 | | | 81,797 | | | 296,105 | | 293,787 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 39,803 | | | 39,136 | | | 140,667 | | 146,696 | | |\n| 10 | Services | 6,296 | | | 6,248 | | | 18,634 | | 18,370 | | |\n| 11 | Total cost of sales | 46,099 | | | 45,384 | | | 159,301 | | 165,066 | | |\n| 12 | Gross margin | 39,678 | | | 36,413 | | | 136,804 | | 128,721 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 8,006 | | | 7,442 | | | 23,605 | | 22,608 | | |\n| 16 | Selling, general and administrative | 6,320 | | | 5,973 | | | 19,574 | | 18,781 | | |\n| 17 | Total operating expenses | 14,326 | | | 13,415 | | | 43,179 | | 41,389 | | |\n| 19 | Operating income | 25,352 | | | 22,998 | | | 93,625 | | 87,332 | | |\n| 20 | Other income\/(expense), net | 142 | | | (265) | | | 250 | | (594) | | |\n| 21 | Income before provision for income taxes | 25,494 | | | 22,733 | | | 93,875 | | 86,738 | | |\n| 22 | Provision for income taxes | 4,046 | | | 2,852 | | | 14,875 | | 12,699 | | |\n| 23 | Net income | $ | 21,448 | | | $ | 19,881 | | $ | 79,000 | $ | 74,039 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.40 | | | $ | 1.27 | | $ | 5.13 | $ | 4.69 |\n| 27 | Diluted | $ | 1.40 | | | $ | 1.26 | | $ | 5.11 | $ | 4.67 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,287,521 | | | 15,697,614 | | | 15,401,047 | | 15,792,497 | | |\n| 31 | Diluted | 15,348,175 | | | 15,775,021 | | | 15,463,175 | | 15,859,263 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 1\n\n\n\n\n\n","context_markdown_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:------------------|:-----------|:-------------|:-------|:------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Nine Months Ended | | | | | | | | |\n| 2 | | June 29,2024 | | July 1,2023 | | June 29,2024 | | July 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 61,564 | | | $ | 60,584 | | $ | 224,908 | $ | 230,901 |\n| 5 | Services | 24,213 | | | 21,213 | | | 71,197 | | 62,886 | | |\n| 6 | Total net sales | 85,777 | | | 81,797 | | | 296,105 | | 293,787 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 39,803 | | | 39,136 | | | 140,667 | | 146,696 | | |\n| 10 | Services | 6,296 | | | 6,248 | | | 18,634 | | 18,370 | | |\n| 11 | Total cost of sales | 46,099 | | | 45,384 | | | 159,301 | | 165,066 | | |\n| 12 | Gross margin | 39,678 | | | 36,413 | | | 136,804 | | 128,721 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 8,006 | | | 7,442 | | | 23,605 | | 22,608 | | |\n| 16 | Selling, general and administrative | 6,320 | | | 5,973 | | | 19,574 | | 18,781 | | |\n| 17 | Total operating expenses | 14,326 | | | 13,415 | | | 43,179 | | 41,389 | | |\n| 19 | Operating income | 25,352 | | | 22,998 | | | 93,625 | | 87,332 | | |\n| 20 | Other income\/(expense), net | 142 | | | (265) | | | 250 | | (594) | | |\n| 21 | Income before provision for income taxes | 25,494 | | | 22,733 | | | 93,875 | | 86,738 | | |\n| 22 | Provision for income taxes | 4,046 | | | 2,852 | | | 14,875 | | 12,699 | | |\n| 23 | Net income | $ | 21,448 | | | $ | 19,881 | | $ | 79,000 | $ | 74,039 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.40 | | | $ | 1.27 | | $ | 5.13 | $ | 4.69 |\n| 27 | Diluted | $ | 1.40 | | | $ | 1.26 | | $ | 5.11 | $ | 4.67 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,287,521 | | | 15,697,614 | | | 15,401,047 | | 15,792,497 | | |\n| 31 | Diluted | 15,348,175 | | | 15,775,021 | | | 15,463,175 | | 15,859,263 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 1\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Nine Months Ended<\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>July 1,2023<\/td><\/td>June 29,2024<\/td><\/td>July 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>61,564 <\/td><\/td><\/td>$<\/td>60,584 <\/td><\/td><\/td>$<\/td>224,908 <\/td><\/td><\/td>$<\/td>230,901 <\/td><\/td><\/tr>
Services<\/td>24,213 <\/td><\/td><\/td>21,213 <\/td><\/td><\/td>71,197 <\/td><\/td><\/td>62,886 <\/td><\/td><\/tr>
Total net sales<\/td>85,777 <\/td><\/td><\/td>81,797 <\/td><\/td><\/td>296,105 <\/td><\/td><\/td>293,787 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>39,803 <\/td><\/td><\/td>39,136 <\/td><\/td><\/td>140,667 <\/td><\/td><\/td>146,696 <\/td><\/td><\/tr>
Services<\/td>6,296 <\/td><\/td><\/td>6,248 <\/td><\/td><\/td>18,634 <\/td><\/td><\/td>18,370 <\/td><\/td><\/tr>
Total cost of sales<\/td>46,099 <\/td><\/td><\/td>45,384 <\/td><\/td><\/td>159,301 <\/td><\/td><\/td>165,066 <\/td><\/td><\/tr>
Gross margin<\/td>39,678 <\/td><\/td><\/td>36,413 <\/td><\/td><\/td>136,804 <\/td><\/td><\/td>128,721 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>8,006 <\/td><\/td><\/td>7,442 <\/td><\/td><\/td>23,605 <\/td><\/td><\/td>22,608 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,320 <\/td><\/td><\/td>5,973 <\/td><\/td><\/td>19,574 <\/td><\/td><\/td>18,781 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,326 <\/td><\/td><\/td>13,415 <\/td><\/td><\/td>43,179 <\/td><\/td><\/td>41,389 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>25,352 <\/td><\/td><\/td>22,998 <\/td><\/td><\/td>93,625 <\/td><\/td><\/td>87,332 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>142 <\/td><\/td><\/td>(265)<\/td><\/td><\/td>250 <\/td><\/td><\/td>(594)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>25,494 <\/td><\/td><\/td>22,733 <\/td><\/td><\/td>93,875 <\/td><\/td><\/td>86,738 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,046 <\/td><\/td><\/td>2,852 <\/td><\/td><\/td>14,875 <\/td><\/td><\/td>12,699 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>21,448 <\/td><\/td><\/td>$<\/td>19,881 <\/td><\/td><\/td>$<\/td>79,000 <\/td><\/td><\/td>$<\/td>74,039 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.40 <\/td><\/td><\/td>$<\/td>1.27 <\/td><\/td><\/td>$<\/td>5.13 <\/td><\/td><\/td>$<\/td>4.69 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.40 <\/td><\/td><\/td>$<\/td>1.26 <\/td><\/td><\/td>$<\/td>5.11 <\/td><\/td><\/td>$<\/td>4.67 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,287,521 <\/td><\/td><\/td>15,697,614 <\/td><\/td><\/td>15,401,047 <\/td><\/td><\/td>15,792,497 <\/td><\/td><\/tr>
Diluted<\/td>15,348,175 <\/td><\/td><\/td>15,775,021 <\/td><\/td><\/td>15,463,175 <\/td><\/td><\/td>15,859,263 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 1\n\n\n\n\n\n","context_html_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Nine Months Ended<\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>July 1,2023<\/td><\/td>June 29,2024<\/td><\/td>July 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>61,564 <\/td><\/td><\/td>$<\/td>60,584 <\/td><\/td><\/td>$<\/td>224,908 <\/td><\/td><\/td>$<\/td>230,901 <\/td><\/td><\/tr>
Services<\/td>24,213 <\/td><\/td><\/td>21,213 <\/td><\/td><\/td>71,197 <\/td><\/td><\/td>62,886 <\/td><\/td><\/tr>
Total net sales<\/td>85,777 <\/td><\/td><\/td>81,797 <\/td><\/td><\/td>296,105 <\/td><\/td><\/td>293,787 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>39,803 <\/td><\/td><\/td>39,136 <\/td><\/td><\/td>140,667 <\/td><\/td><\/td>146,696 <\/td><\/td><\/tr>
Services<\/td>6,296 <\/td><\/td><\/td>6,248 <\/td><\/td><\/td>18,634 <\/td><\/td><\/td>18,370 <\/td><\/td><\/tr>
Total cost of sales<\/td>46,099 <\/td><\/td><\/td>45,384 <\/td><\/td><\/td>159,301 <\/td><\/td><\/td>165,066 <\/td><\/td><\/tr>
Gross margin<\/td>39,678 <\/td><\/td><\/td>36,413 <\/td><\/td><\/td>136,804 <\/td><\/td><\/td>128,721 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>8,006 <\/td><\/td><\/td>7,442 <\/td><\/td><\/td>23,605 <\/td><\/td><\/td>22,608 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,320 <\/td><\/td><\/td>5,973 <\/td><\/td><\/td>19,574 <\/td><\/td><\/td>18,781 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,326 <\/td><\/td><\/td>13,415 <\/td><\/td><\/td>43,179 <\/td><\/td><\/td>41,389 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>25,352 <\/td><\/td><\/td>22,998 <\/td><\/td><\/td>93,625 <\/td><\/td><\/td>87,332 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>142 <\/td><\/td><\/td>(265)<\/td><\/td><\/td>250 <\/td><\/td><\/td>(594)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>25,494 <\/td><\/td><\/td>22,733 <\/td><\/td><\/td>93,875 <\/td><\/td><\/td>86,738 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,046 <\/td><\/td><\/td>2,852 <\/td><\/td><\/td>14,875 <\/td><\/td><\/td>12,699 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>21,448 <\/td><\/td><\/td>$<\/td>19,881 <\/td><\/td><\/td>$<\/td>79,000 <\/td><\/td><\/td>$<\/td>74,039 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.40 <\/td><\/td><\/td>$<\/td>1.27 <\/td><\/td><\/td>$<\/td>5.13 <\/td><\/td><\/td>$<\/td>4.69 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.40 <\/td><\/td><\/td>$<\/td>1.26 <\/td><\/td><\/td>$<\/td>5.11 <\/td><\/td><\/td>$<\/td>4.67 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,287,521 <\/td><\/td><\/td>15,697,614 <\/td><\/td><\/td>15,401,047 <\/td><\/td><\/td>15,792,497 <\/td><\/td><\/tr>
Diluted<\/td>15,348,175 <\/td><\/td><\/td>15,775,021 <\/td><\/td><\/td>15,463,175 <\/td><\/td><\/td>15,859,263 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 1\n\n\n\n\n\n"} +{"QID":"q_Ra135","Question":" What is the Debt Equity Ratio for Apple Inc. as of June 29, 2024?","ground_truth_answer":"The Debt Equity Ratio for Apple Inc. as of June 29, 2024, is calculated as follows:\nDebt Equity Ratio = Total Debt \/ Shareholders' Equity\nTotal Debt (June 29, 2024) = $98,310 million (current term debt + non-current term debt)\nShareholders' Equity (June 29, 2024) = $66,708 million\nDebt Equity Ratio = 98,310 \/ 66,708 = 1.47","question_type":"Ratio","page_number":3,"accession_number":"0000320193-24-000081","item":"Item 1. Financial Statements","context_markdown_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | June 29,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 25,565 | | | $ | 29,965 |\n| 5 | Marketable securities | 36,236 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 22,795 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 20,377 | | | 31,477 | | |\n| 8 | Inventories | 6,165 | | | 6,331 | | |\n| 9 | Other current assets | 14,297 | | | 14,695 | | |\n| 10 | Total current assets | 125,435 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 91,240 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 44,502 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,435 | | | 64,758 | | |\n| 16 | Total non-current assets | 206,177 | | | 209,017 | | |\n| 17 | Total assets | $ | 331,612 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 47,574 | | | $ | 62,611 |\n| 22 | Other current liabilities | 60,889 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,053 | | | 8,061 | | |\n| 24 | Commercial paper | 2,994 | | | 5,985 | | |\n| 25 | Term debt | 12,114 | | | 9,822 | | |\n| 26 | Total current liabilities | 131,624 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 86,196 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,084 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 133,280 | | | 145,129 | | |\n| 32 | Total liabilities | 264,904 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively | 79,850 | | | 73,812 | | |\n| 38 | Accumulated deficit | (4,726) | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,416) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 66,708 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 331,612 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | June 29,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 25,565 | | | $ | 29,965 |\n| 5 | Marketable securities | 36,236 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 22,795 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 20,377 | | | 31,477 | | |\n| 8 | Inventories | 6,165 | | | 6,331 | | |\n| 9 | Other current assets | 14,297 | | | 14,695 | | |\n| 10 | Total current assets | 125,435 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 91,240 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 44,502 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,435 | | | 64,758 | | |\n| 16 | Total non-current assets | 206,177 | | | 209,017 | | |\n| 17 | Total assets | $ | 331,612 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 47,574 | | | $ | 62,611 |\n| 22 | Other current liabilities | 60,889 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,053 | | | 8,061 | | |\n| 24 | Commercial paper | 2,994 | | | 5,985 | | |\n| 25 | Term debt | 12,114 | | | 9,822 | | |\n| 26 | Total current liabilities | 131,624 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 86,196 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,084 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 133,280 | | | 145,129 | | |\n| 32 | Total liabilities | 264,904 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively | 79,850 | | | 73,812 | | |\n| 38 | Accumulated deficit | (4,726) | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,416) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 66,708 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 331,612 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>25,565 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>36,236 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>22,795 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>20,377 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,165 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>14,297 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>125,435 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>91,240 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>44,502 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,435 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>206,177 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>47,574 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>60,889 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,053 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>2,994 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>12,114 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>131,624 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>86,196 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,084 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>133,280 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>264,904 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively<\/td>79,850 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(4,726)<\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,416)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>66,708 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>25,565 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>36,236 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>22,795 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>20,377 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,165 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>14,297 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>125,435 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>91,240 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>44,502 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,435 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>206,177 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>47,574 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>60,889 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,053 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>2,994 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>12,114 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>131,624 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>86,196 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,084 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>133,280 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>264,904 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively<\/td>79,850 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(4,726)<\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,416)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>66,708 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n"} +{"QID":"q_Ra136","Question":"What is the Current Ratio for Apple Inc. as of June 29, 2024?","ground_truth_answer":"The Current Ratio for Apple Inc. as of June 29, 2024, is calculated as follows:\nCurrent Ratio = Current Assets \/ Current Liabilities\nCurrent Assets (June 29, 2024) = $125,435 million\nCurrent Liabilities (June 29, 2024) = $131,624 million\nCurrent Ratio = 125,435 \/ 131,624 = 0.95","question_type":"Ratio","page_number":3,"accession_number":"0000320193-24-000081","item":"Item 1. Financial Statements","context_markdown_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | June 29,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 25,565 | | | $ | 29,965 |\n| 5 | Marketable securities | 36,236 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 22,795 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 20,377 | | | 31,477 | | |\n| 8 | Inventories | 6,165 | | | 6,331 | | |\n| 9 | Other current assets | 14,297 | | | 14,695 | | |\n| 10 | Total current assets | 125,435 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 91,240 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 44,502 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,435 | | | 64,758 | | |\n| 16 | Total non-current assets | 206,177 | | | 209,017 | | |\n| 17 | Total assets | $ | 331,612 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 47,574 | | | $ | 62,611 |\n| 22 | Other current liabilities | 60,889 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,053 | | | 8,061 | | |\n| 24 | Commercial paper | 2,994 | | | 5,985 | | |\n| 25 | Term debt | 12,114 | | | 9,822 | | |\n| 26 | Total current liabilities | 131,624 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 86,196 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,084 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 133,280 | | | 145,129 | | |\n| 32 | Total liabilities | 264,904 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively | 79,850 | | | 73,812 | | |\n| 38 | Accumulated deficit | (4,726) | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,416) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 66,708 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 331,612 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | June 29,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 25,565 | | | $ | 29,965 |\n| 5 | Marketable securities | 36,236 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 22,795 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 20,377 | | | 31,477 | | |\n| 8 | Inventories | 6,165 | | | 6,331 | | |\n| 9 | Other current assets | 14,297 | | | 14,695 | | |\n| 10 | Total current assets | 125,435 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 91,240 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 44,502 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,435 | | | 64,758 | | |\n| 16 | Total non-current assets | 206,177 | | | 209,017 | | |\n| 17 | Total assets | $ | 331,612 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 47,574 | | | $ | 62,611 |\n| 22 | Other current liabilities | 60,889 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,053 | | | 8,061 | | |\n| 24 | Commercial paper | 2,994 | | | 5,985 | | |\n| 25 | Term debt | 12,114 | | | 9,822 | | |\n| 26 | Total current liabilities | 131,624 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 86,196 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,084 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 133,280 | | | 145,129 | | |\n| 32 | Total liabilities | 264,904 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively | 79,850 | | | 73,812 | | |\n| 38 | Accumulated deficit | (4,726) | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,416) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 66,708 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 331,612 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>25,565 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>36,236 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>22,795 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>20,377 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,165 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>14,297 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>125,435 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>91,240 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>44,502 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,435 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>206,177 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>47,574 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>60,889 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,053 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>2,994 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>12,114 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>131,624 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>86,196 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,084 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>133,280 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>264,904 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively<\/td>79,850 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(4,726)<\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,416)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>66,708 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>25,565 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>36,236 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>22,795 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>20,377 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,165 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>14,297 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>125,435 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>91,240 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>44,502 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,435 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>206,177 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>47,574 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>60,889 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,053 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>2,994 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>12,114 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>131,624 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>86,196 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,084 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>133,280 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>264,904 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively<\/td>79,850 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(4,726)<\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,416)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>66,708 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n"} +{"QID":"q_Ra137","Question":"What is the Quick Ratio for Apple Inc. as of June 29, 2024?","ground_truth_answer":"Method 1: The Quick Ratio for Apple Inc. as of June 29, 2024, is calculated as follows:\nQuick Ratio = (Current Assets - Inventory) \/ Current Liabilities\nCurrent Assets (June 29, 2024) = $125,435 million\nInventory (June 29, 2024) = $6,165 million\nCurrent Liabilities (June 29, 2024) = $131,624 million\nQuick Ratio = (125,435 - 6,165) \/ 131,624 = 0.91\nMethod 2: The Quick Ratio for Apple Inc. as of June 29, 2024, is calculated as follows:\nQuick Ratio = (Cash and Cash Equivalents + Marketable Securities + Accounts Receivable) \/ Current Liabilities\n\nValues (June 29, 2024):\n\nCash and Cash Equivalents = $25,565 million\nMarketable Securities = $36,236 million\nAccounts Receivable, net = $22,795 million\nCurrent Liabilities = $131,624 million\nQuick Ratio = (25,565 + 36,236 + 22,795) \/ 131,624\nQuick Ratio = 84,596 \/ 131,624 \u2248 0.64\n\nThe quick ratio indicates that Apple Inc. can cover 64% of its short-term liabilities using only its most liquid assets, excluding inventory.","question_type":"Ratio","page_number":3,"accession_number":"0000320193-24-000081","item":"Item 1. Financial Statements","context_markdown_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | June 29,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 25,565 | | | $ | 29,965 |\n| 5 | Marketable securities | 36,236 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 22,795 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 20,377 | | | 31,477 | | |\n| 8 | Inventories | 6,165 | | | 6,331 | | |\n| 9 | Other current assets | 14,297 | | | 14,695 | | |\n| 10 | Total current assets | 125,435 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 91,240 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 44,502 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,435 | | | 64,758 | | |\n| 16 | Total non-current assets | 206,177 | | | 209,017 | | |\n| 17 | Total assets | $ | 331,612 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 47,574 | | | $ | 62,611 |\n| 22 | Other current liabilities | 60,889 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,053 | | | 8,061 | | |\n| 24 | Commercial paper | 2,994 | | | 5,985 | | |\n| 25 | Term debt | 12,114 | | | 9,822 | | |\n| 26 | Total current liabilities | 131,624 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 86,196 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,084 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 133,280 | | | 145,129 | | |\n| 32 | Total liabilities | 264,904 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively | 79,850 | | | 73,812 | | |\n| 38 | Accumulated deficit | (4,726) | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,416) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 66,708 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 331,612 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | June 29,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 25,565 | | | $ | 29,965 |\n| 5 | Marketable securities | 36,236 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 22,795 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 20,377 | | | 31,477 | | |\n| 8 | Inventories | 6,165 | | | 6,331 | | |\n| 9 | Other current assets | 14,297 | | | 14,695 | | |\n| 10 | Total current assets | 125,435 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 91,240 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 44,502 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,435 | | | 64,758 | | |\n| 16 | Total non-current assets | 206,177 | | | 209,017 | | |\n| 17 | Total assets | $ | 331,612 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 47,574 | | | $ | 62,611 |\n| 22 | Other current liabilities | 60,889 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,053 | | | 8,061 | | |\n| 24 | Commercial paper | 2,994 | | | 5,985 | | |\n| 25 | Term debt | 12,114 | | | 9,822 | | |\n| 26 | Total current liabilities | 131,624 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 86,196 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,084 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 133,280 | | | 145,129 | | |\n| 32 | Total liabilities | 264,904 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively | 79,850 | | | 73,812 | | |\n| 38 | Accumulated deficit | (4,726) | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,416) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 66,708 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 331,612 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>25,565 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>36,236 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>22,795 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>20,377 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,165 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>14,297 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>125,435 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>91,240 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>44,502 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,435 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>206,177 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>47,574 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>60,889 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,053 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>2,994 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>12,114 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>131,624 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>86,196 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,084 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>133,280 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>264,904 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively<\/td>79,850 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(4,726)<\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,416)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>66,708 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>25,565 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>36,236 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>22,795 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>20,377 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,165 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>14,297 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>125,435 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>91,240 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>44,502 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,435 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>206,177 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>47,574 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>60,889 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,053 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>2,994 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>12,114 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>131,624 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>86,196 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,084 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>133,280 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>264,904 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively<\/td>79,850 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(4,726)<\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,416)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>66,708 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n"} +{"QID":"q_Ra138","Question":" What is the Inventory Turnover Ratio for Apple Inc. for the nine months ended June 29, 2024?","ground_truth_answer":"The Inventory Turnover Ratio for Apple Inc. for the nine months ended June 29, 2024, is calculated as follows:\nInventory Turnover = Cost of Goods Sold \/ Average Inventory\nCost of Goods Sold (June 29, 2024) = $159,301 million\nAverage Inventory = (Inventory at the beginning + Inventory at the end) \/ 2\nInventory at the beginning (September 30, 2023) = $6,331 million\nInventory at the end (June 29, 2024) = $6,165 million\nAverage Inventory = (6,331 + 6,165) \/ 2 = $6,248 million\nInventory Turnover = 159,301 \/ 6,248 = 25.50","question_type":"Ratio","page_number":"1, 3","accession_number":"0000320193-24-000081","item":"Item 1. Financial Statements","context_markdown_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:------------------|:-----------|:-------------|:-------|:------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Nine Months Ended | | | | | | | | |\n| 2 | | June 29,2024 | | July 1,2023 | | June 29,2024 | | July 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 61,564 | | | $ | 60,584 | | $ | 224,908 | $ | 230,901 |\n| 5 | Services | 24,213 | | | 21,213 | | | 71,197 | | 62,886 | | |\n| 6 | Total net sales | 85,777 | | | 81,797 | | | 296,105 | | 293,787 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 39,803 | | | 39,136 | | | 140,667 | | 146,696 | | |\n| 10 | Services | 6,296 | | | 6,248 | | | 18,634 | | 18,370 | | |\n| 11 | Total cost of sales | 46,099 | | | 45,384 | | | 159,301 | | 165,066 | | |\n| 12 | Gross margin | 39,678 | | | 36,413 | | | 136,804 | | 128,721 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 8,006 | | | 7,442 | | | 23,605 | | 22,608 | | |\n| 16 | Selling, general and administrative | 6,320 | | | 5,973 | | | 19,574 | | 18,781 | | |\n| 17 | Total operating expenses | 14,326 | | | 13,415 | | | 43,179 | | 41,389 | | |\n| 19 | Operating income | 25,352 | | | 22,998 | | | 93,625 | | 87,332 | | |\n| 20 | Other income\/(expense), net | 142 | | | (265) | | | 250 | | (594) | | |\n| 21 | Income before provision for income taxes | 25,494 | | | 22,733 | | | 93,875 | | 86,738 | | |\n| 22 | Provision for income taxes | 4,046 | | | 2,852 | | | 14,875 | | 12,699 | | |\n| 23 | Net income | $ | 21,448 | | | $ | 19,881 | | $ | 79,000 | $ | 74,039 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.40 | | | $ | 1.27 | | $ | 5.13 | $ | 4.69 |\n| 27 | Diluted | $ | 1.40 | | | $ | 1.26 | | $ | 5.11 | $ | 4.67 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,287,521 | | | 15,697,614 | | | 15,401,047 | | 15,792,497 | | |\n| 31 | Diluted | 15,348,175 | | | 15,775,021 | | | 15,463,175 | | 15,859,263 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 1\n\n\n\n\n\n, Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | June 29,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 25,565 | | | $ | 29,965 |\n| 5 | Marketable securities | 36,236 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 22,795 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 20,377 | | | 31,477 | | |\n| 8 | Inventories | 6,165 | | | 6,331 | | |\n| 9 | Other current assets | 14,297 | | | 14,695 | | |\n| 10 | Total current assets | 125,435 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 91,240 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 44,502 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,435 | | | 64,758 | | |\n| 16 | Total non-current assets | 206,177 | | | 209,017 | | |\n| 17 | Total assets | $ | 331,612 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 47,574 | | | $ | 62,611 |\n| 22 | Other current liabilities | 60,889 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,053 | | | 8,061 | | |\n| 24 | Commercial paper | 2,994 | | | 5,985 | | |\n| 25 | Term debt | 12,114 | | | 9,822 | | |\n| 26 | Total current liabilities | 131,624 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 86,196 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,084 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 133,280 | | | 145,129 | | |\n| 32 | Total liabilities | 264,904 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively | 79,850 | | | 73,812 | | |\n| 38 | Accumulated deficit | (4,726) | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,416) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 66,708 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 331,612 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_markdown_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:------------------|:-----------|:-------------|:-------|:------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Nine Months Ended | | | | | | | | |\n| 2 | | June 29,2024 | | July 1,2023 | | June 29,2024 | | July 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 61,564 | | | $ | 60,584 | | $ | 224,908 | $ | 230,901 |\n| 5 | Services | 24,213 | | | 21,213 | | | 71,197 | | 62,886 | | |\n| 6 | Total net sales | 85,777 | | | 81,797 | | | 296,105 | | 293,787 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 39,803 | | | 39,136 | | | 140,667 | | 146,696 | | |\n| 10 | Services | 6,296 | | | 6,248 | | | 18,634 | | 18,370 | | |\n| 11 | Total cost of sales | 46,099 | | | 45,384 | | | 159,301 | | 165,066 | | |\n| 12 | Gross margin | 39,678 | | | 36,413 | | | 136,804 | | 128,721 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 8,006 | | | 7,442 | | | 23,605 | | 22,608 | | |\n| 16 | Selling, general and administrative | 6,320 | | | 5,973 | | | 19,574 | | 18,781 | | |\n| 17 | Total operating expenses | 14,326 | | | 13,415 | | | 43,179 | | 41,389 | | |\n| 19 | Operating income | 25,352 | | | 22,998 | | | 93,625 | | 87,332 | | |\n| 20 | Other income\/(expense), net | 142 | | | (265) | | | 250 | | (594) | | |\n| 21 | Income before provision for income taxes | 25,494 | | | 22,733 | | | 93,875 | | 86,738 | | |\n| 22 | Provision for income taxes | 4,046 | | | 2,852 | | | 14,875 | | 12,699 | | |\n| 23 | Net income | $ | 21,448 | | | $ | 19,881 | | $ | 79,000 | $ | 74,039 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.40 | | | $ | 1.27 | | $ | 5.13 | $ | 4.69 |\n| 27 | Diluted | $ | 1.40 | | | $ | 1.26 | | $ | 5.11 | $ | 4.67 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,287,521 | | | 15,697,614 | | | 15,401,047 | | 15,792,497 | | |\n| 31 | Diluted | 15,348,175 | | | 15,775,021 | | | 15,463,175 | | 15,859,263 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 1\n\n\n\n\n\n, \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | June 29,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 25,565 | | | $ | 29,965 |\n| 5 | Marketable securities | 36,236 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 22,795 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 20,377 | | | 31,477 | | |\n| 8 | Inventories | 6,165 | | | 6,331 | | |\n| 9 | Other current assets | 14,297 | | | 14,695 | | |\n| 10 | Total current assets | 125,435 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 91,240 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 44,502 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,435 | | | 64,758 | | |\n| 16 | Total non-current assets | 206,177 | | | 209,017 | | |\n| 17 | Total assets | $ | 331,612 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 47,574 | | | $ | 62,611 |\n| 22 | Other current liabilities | 60,889 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,053 | | | 8,061 | | |\n| 24 | Commercial paper | 2,994 | | | 5,985 | | |\n| 25 | Term debt | 12,114 | | | 9,822 | | |\n| 26 | Total current liabilities | 131,624 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 86,196 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,084 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 133,280 | | | 145,129 | | |\n| 32 | Total liabilities | 264,904 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively | 79,850 | | | 73,812 | | |\n| 38 | Accumulated deficit | (4,726) | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,416) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 66,708 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 331,612 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Nine Months Ended<\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>July 1,2023<\/td><\/td>June 29,2024<\/td><\/td>July 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>61,564 <\/td><\/td><\/td>$<\/td>60,584 <\/td><\/td><\/td>$<\/td>224,908 <\/td><\/td><\/td>$<\/td>230,901 <\/td><\/td><\/tr>
Services<\/td>24,213 <\/td><\/td><\/td>21,213 <\/td><\/td><\/td>71,197 <\/td><\/td><\/td>62,886 <\/td><\/td><\/tr>
Total net sales<\/td>85,777 <\/td><\/td><\/td>81,797 <\/td><\/td><\/td>296,105 <\/td><\/td><\/td>293,787 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>39,803 <\/td><\/td><\/td>39,136 <\/td><\/td><\/td>140,667 <\/td><\/td><\/td>146,696 <\/td><\/td><\/tr>
Services<\/td>6,296 <\/td><\/td><\/td>6,248 <\/td><\/td><\/td>18,634 <\/td><\/td><\/td>18,370 <\/td><\/td><\/tr>
Total cost of sales<\/td>46,099 <\/td><\/td><\/td>45,384 <\/td><\/td><\/td>159,301 <\/td><\/td><\/td>165,066 <\/td><\/td><\/tr>
Gross margin<\/td>39,678 <\/td><\/td><\/td>36,413 <\/td><\/td><\/td>136,804 <\/td><\/td><\/td>128,721 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>8,006 <\/td><\/td><\/td>7,442 <\/td><\/td><\/td>23,605 <\/td><\/td><\/td>22,608 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,320 <\/td><\/td><\/td>5,973 <\/td><\/td><\/td>19,574 <\/td><\/td><\/td>18,781 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,326 <\/td><\/td><\/td>13,415 <\/td><\/td><\/td>43,179 <\/td><\/td><\/td>41,389 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>25,352 <\/td><\/td><\/td>22,998 <\/td><\/td><\/td>93,625 <\/td><\/td><\/td>87,332 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>142 <\/td><\/td><\/td>(265)<\/td><\/td><\/td>250 <\/td><\/td><\/td>(594)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>25,494 <\/td><\/td><\/td>22,733 <\/td><\/td><\/td>93,875 <\/td><\/td><\/td>86,738 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,046 <\/td><\/td><\/td>2,852 <\/td><\/td><\/td>14,875 <\/td><\/td><\/td>12,699 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>21,448 <\/td><\/td><\/td>$<\/td>19,881 <\/td><\/td><\/td>$<\/td>79,000 <\/td><\/td><\/td>$<\/td>74,039 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.40 <\/td><\/td><\/td>$<\/td>1.27 <\/td><\/td><\/td>$<\/td>5.13 <\/td><\/td><\/td>$<\/td>4.69 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.40 <\/td><\/td><\/td>$<\/td>1.26 <\/td><\/td><\/td>$<\/td>5.11 <\/td><\/td><\/td>$<\/td>4.67 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,287,521 <\/td><\/td><\/td>15,697,614 <\/td><\/td><\/td>15,401,047 <\/td><\/td><\/td>15,792,497 <\/td><\/td><\/tr>
Diluted<\/td>15,348,175 <\/td><\/td><\/td>15,775,021 <\/td><\/td><\/td>15,463,175 <\/td><\/td><\/td>15,859,263 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 1\n\n\n\n\n\n, Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>25,565 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>36,236 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>22,795 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>20,377 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,165 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>14,297 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>125,435 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>91,240 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>44,502 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,435 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>206,177 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>47,574 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>60,889 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,053 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>2,994 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>12,114 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>131,624 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>86,196 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,084 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>133,280 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>264,904 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively<\/td>79,850 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(4,726)<\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,416)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>66,708 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Nine Months Ended<\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>July 1,2023<\/td><\/td>June 29,2024<\/td><\/td>July 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>61,564 <\/td><\/td><\/td>$<\/td>60,584 <\/td><\/td><\/td>$<\/td>224,908 <\/td><\/td><\/td>$<\/td>230,901 <\/td><\/td><\/tr>
Services<\/td>24,213 <\/td><\/td><\/td>21,213 <\/td><\/td><\/td>71,197 <\/td><\/td><\/td>62,886 <\/td><\/td><\/tr>
Total net sales<\/td>85,777 <\/td><\/td><\/td>81,797 <\/td><\/td><\/td>296,105 <\/td><\/td><\/td>293,787 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>39,803 <\/td><\/td><\/td>39,136 <\/td><\/td><\/td>140,667 <\/td><\/td><\/td>146,696 <\/td><\/td><\/tr>
Services<\/td>6,296 <\/td><\/td><\/td>6,248 <\/td><\/td><\/td>18,634 <\/td><\/td><\/td>18,370 <\/td><\/td><\/tr>
Total cost of sales<\/td>46,099 <\/td><\/td><\/td>45,384 <\/td><\/td><\/td>159,301 <\/td><\/td><\/td>165,066 <\/td><\/td><\/tr>
Gross margin<\/td>39,678 <\/td><\/td><\/td>36,413 <\/td><\/td><\/td>136,804 <\/td><\/td><\/td>128,721 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>8,006 <\/td><\/td><\/td>7,442 <\/td><\/td><\/td>23,605 <\/td><\/td><\/td>22,608 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,320 <\/td><\/td><\/td>5,973 <\/td><\/td><\/td>19,574 <\/td><\/td><\/td>18,781 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,326 <\/td><\/td><\/td>13,415 <\/td><\/td><\/td>43,179 <\/td><\/td><\/td>41,389 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>25,352 <\/td><\/td><\/td>22,998 <\/td><\/td><\/td>93,625 <\/td><\/td><\/td>87,332 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>142 <\/td><\/td><\/td>(265)<\/td><\/td><\/td>250 <\/td><\/td><\/td>(594)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>25,494 <\/td><\/td><\/td>22,733 <\/td><\/td><\/td>93,875 <\/td><\/td><\/td>86,738 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,046 <\/td><\/td><\/td>2,852 <\/td><\/td><\/td>14,875 <\/td><\/td><\/td>12,699 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>21,448 <\/td><\/td><\/td>$<\/td>19,881 <\/td><\/td><\/td>$<\/td>79,000 <\/td><\/td><\/td>$<\/td>74,039 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.40 <\/td><\/td><\/td>$<\/td>1.27 <\/td><\/td><\/td>$<\/td>5.13 <\/td><\/td><\/td>$<\/td>4.69 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.40 <\/td><\/td><\/td>$<\/td>1.26 <\/td><\/td><\/td>$<\/td>5.11 <\/td><\/td><\/td>$<\/td>4.67 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,287,521 <\/td><\/td><\/td>15,697,614 <\/td><\/td><\/td>15,401,047 <\/td><\/td><\/td>15,792,497 <\/td><\/td><\/tr>
Diluted<\/td>15,348,175 <\/td><\/td><\/td>15,775,021 <\/td><\/td><\/td>15,463,175 <\/td><\/td><\/td>15,859,263 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 1\n\n\n\n\n\n, \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>25,565 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>36,236 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>22,795 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>20,377 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,165 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>14,297 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>125,435 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>91,240 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>44,502 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,435 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>206,177 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>47,574 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>60,889 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,053 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>2,994 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>12,114 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>131,624 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>86,196 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,084 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>133,280 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>264,904 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively<\/td>79,850 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(4,726)<\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,416)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>66,708 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n"} +{"QID":"q_Ra139","Question":"What is the Receivables Turnover Ratio for Apple Inc. for the nine months ended June 29, 2024?","ground_truth_answer":"The Receivables Turnover Ratio for Apple Inc. for the nine months ended June 29, 2024, is calculated as follows:\nReceivables Turnover = Net Credit Sales \/ Average Accounts Receivable\nNet Credit Sales (June 29, 2024) = $296,105 million\nAverage Accounts Receivable = (Accounts Receivable at the beginning + Accounts Receivable at the end) \/ 2\nAccounts Receivable at the beginning (September 30, 2023) = $29,508 million\nAccounts Receivable at the end (June 29, 2024) = $22,795 million\nAverage Accounts Receivable = (29,508 + 22,795) \/ 2 = $26,152 million\nReceivables Turnover = 296,105 \/ 26,152 = 11.32","question_type":"Ratio","page_number":"1, 3","accession_number":"0000320193-24-000081","item":"Item 1. Financial Statements","context_markdown_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:------------------|:-----------|:-------------|:-------|:------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Nine Months Ended | | | | | | | | |\n| 2 | | June 29,2024 | | July 1,2023 | | June 29,2024 | | July 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 61,564 | | | $ | 60,584 | | $ | 224,908 | $ | 230,901 |\n| 5 | Services | 24,213 | | | 21,213 | | | 71,197 | | 62,886 | | |\n| 6 | Total net sales | 85,777 | | | 81,797 | | | 296,105 | | 293,787 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 39,803 | | | 39,136 | | | 140,667 | | 146,696 | | |\n| 10 | Services | 6,296 | | | 6,248 | | | 18,634 | | 18,370 | | |\n| 11 | Total cost of sales | 46,099 | | | 45,384 | | | 159,301 | | 165,066 | | |\n| 12 | Gross margin | 39,678 | | | 36,413 | | | 136,804 | | 128,721 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 8,006 | | | 7,442 | | | 23,605 | | 22,608 | | |\n| 16 | Selling, general and administrative | 6,320 | | | 5,973 | | | 19,574 | | 18,781 | | |\n| 17 | Total operating expenses | 14,326 | | | 13,415 | | | 43,179 | | 41,389 | | |\n| 19 | Operating income | 25,352 | | | 22,998 | | | 93,625 | | 87,332 | | |\n| 20 | Other income\/(expense), net | 142 | | | (265) | | | 250 | | (594) | | |\n| 21 | Income before provision for income taxes | 25,494 | | | 22,733 | | | 93,875 | | 86,738 | | |\n| 22 | Provision for income taxes | 4,046 | | | 2,852 | | | 14,875 | | 12,699 | | |\n| 23 | Net income | $ | 21,448 | | | $ | 19,881 | | $ | 79,000 | $ | 74,039 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.40 | | | $ | 1.27 | | $ | 5.13 | $ | 4.69 |\n| 27 | Diluted | $ | 1.40 | | | $ | 1.26 | | $ | 5.11 | $ | 4.67 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,287,521 | | | 15,697,614 | | | 15,401,047 | | 15,792,497 | | |\n| 31 | Diluted | 15,348,175 | | | 15,775,021 | | | 15,463,175 | | 15,859,263 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 1\n\n\n\n\n\n, Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | June 29,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 25,565 | | | $ | 29,965 |\n| 5 | Marketable securities | 36,236 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 22,795 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 20,377 | | | 31,477 | | |\n| 8 | Inventories | 6,165 | | | 6,331 | | |\n| 9 | Other current assets | 14,297 | | | 14,695 | | |\n| 10 | Total current assets | 125,435 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 91,240 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 44,502 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,435 | | | 64,758 | | |\n| 16 | Total non-current assets | 206,177 | | | 209,017 | | |\n| 17 | Total assets | $ | 331,612 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 47,574 | | | $ | 62,611 |\n| 22 | Other current liabilities | 60,889 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,053 | | | 8,061 | | |\n| 24 | Commercial paper | 2,994 | | | 5,985 | | |\n| 25 | Term debt | 12,114 | | | 9,822 | | |\n| 26 | Total current liabilities | 131,624 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 86,196 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,084 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 133,280 | | | 145,129 | | |\n| 32 | Total liabilities | 264,904 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively | 79,850 | | | 73,812 | | |\n| 38 | Accumulated deficit | (4,726) | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,416) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 66,708 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 331,612 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_markdown_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:------------------|:-----------|:-------------|:-------|:------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Nine Months Ended | | | | | | | | |\n| 2 | | June 29,2024 | | July 1,2023 | | June 29,2024 | | July 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 61,564 | | | $ | 60,584 | | $ | 224,908 | $ | 230,901 |\n| 5 | Services | 24,213 | | | 21,213 | | | 71,197 | | 62,886 | | |\n| 6 | Total net sales | 85,777 | | | 81,797 | | | 296,105 | | 293,787 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 39,803 | | | 39,136 | | | 140,667 | | 146,696 | | |\n| 10 | Services | 6,296 | | | 6,248 | | | 18,634 | | 18,370 | | |\n| 11 | Total cost of sales | 46,099 | | | 45,384 | | | 159,301 | | 165,066 | | |\n| 12 | Gross margin | 39,678 | | | 36,413 | | | 136,804 | | 128,721 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 8,006 | | | 7,442 | | | 23,605 | | 22,608 | | |\n| 16 | Selling, general and administrative | 6,320 | | | 5,973 | | | 19,574 | | 18,781 | | |\n| 17 | Total operating expenses | 14,326 | | | 13,415 | | | 43,179 | | 41,389 | | |\n| 19 | Operating income | 25,352 | | | 22,998 | | | 93,625 | | 87,332 | | |\n| 20 | Other income\/(expense), net | 142 | | | (265) | | | 250 | | (594) | | |\n| 21 | Income before provision for income taxes | 25,494 | | | 22,733 | | | 93,875 | | 86,738 | | |\n| 22 | Provision for income taxes | 4,046 | | | 2,852 | | | 14,875 | | 12,699 | | |\n| 23 | Net income | $ | 21,448 | | | $ | 19,881 | | $ | 79,000 | $ | 74,039 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.40 | | | $ | 1.27 | | $ | 5.13 | $ | 4.69 |\n| 27 | Diluted | $ | 1.40 | | | $ | 1.26 | | $ | 5.11 | $ | 4.67 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,287,521 | | | 15,697,614 | | | 15,401,047 | | 15,792,497 | | |\n| 31 | Diluted | 15,348,175 | | | 15,775,021 | | | 15,463,175 | | 15,859,263 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 1\n\n\n\n\n\n, \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | June 29,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 25,565 | | | $ | 29,965 |\n| 5 | Marketable securities | 36,236 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 22,795 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 20,377 | | | 31,477 | | |\n| 8 | Inventories | 6,165 | | | 6,331 | | |\n| 9 | Other current assets | 14,297 | | | 14,695 | | |\n| 10 | Total current assets | 125,435 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 91,240 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 44,502 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,435 | | | 64,758 | | |\n| 16 | Total non-current assets | 206,177 | | | 209,017 | | |\n| 17 | Total assets | $ | 331,612 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 47,574 | | | $ | 62,611 |\n| 22 | Other current liabilities | 60,889 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,053 | | | 8,061 | | |\n| 24 | Commercial paper | 2,994 | | | 5,985 | | |\n| 25 | Term debt | 12,114 | | | 9,822 | | |\n| 26 | Total current liabilities | 131,624 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 86,196 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,084 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 133,280 | | | 145,129 | | |\n| 32 | Total liabilities | 264,904 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively | 79,850 | | | 73,812 | | |\n| 38 | Accumulated deficit | (4,726) | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,416) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 66,708 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 331,612 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Nine Months Ended<\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>July 1,2023<\/td><\/td>June 29,2024<\/td><\/td>July 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>61,564 <\/td><\/td><\/td>$<\/td>60,584 <\/td><\/td><\/td>$<\/td>224,908 <\/td><\/td><\/td>$<\/td>230,901 <\/td><\/td><\/tr>
Services<\/td>24,213 <\/td><\/td><\/td>21,213 <\/td><\/td><\/td>71,197 <\/td><\/td><\/td>62,886 <\/td><\/td><\/tr>
Total net sales<\/td>85,777 <\/td><\/td><\/td>81,797 <\/td><\/td><\/td>296,105 <\/td><\/td><\/td>293,787 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>39,803 <\/td><\/td><\/td>39,136 <\/td><\/td><\/td>140,667 <\/td><\/td><\/td>146,696 <\/td><\/td><\/tr>
Services<\/td>6,296 <\/td><\/td><\/td>6,248 <\/td><\/td><\/td>18,634 <\/td><\/td><\/td>18,370 <\/td><\/td><\/tr>
Total cost of sales<\/td>46,099 <\/td><\/td><\/td>45,384 <\/td><\/td><\/td>159,301 <\/td><\/td><\/td>165,066 <\/td><\/td><\/tr>
Gross margin<\/td>39,678 <\/td><\/td><\/td>36,413 <\/td><\/td><\/td>136,804 <\/td><\/td><\/td>128,721 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>8,006 <\/td><\/td><\/td>7,442 <\/td><\/td><\/td>23,605 <\/td><\/td><\/td>22,608 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,320 <\/td><\/td><\/td>5,973 <\/td><\/td><\/td>19,574 <\/td><\/td><\/td>18,781 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,326 <\/td><\/td><\/td>13,415 <\/td><\/td><\/td>43,179 <\/td><\/td><\/td>41,389 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>25,352 <\/td><\/td><\/td>22,998 <\/td><\/td><\/td>93,625 <\/td><\/td><\/td>87,332 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>142 <\/td><\/td><\/td>(265)<\/td><\/td><\/td>250 <\/td><\/td><\/td>(594)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>25,494 <\/td><\/td><\/td>22,733 <\/td><\/td><\/td>93,875 <\/td><\/td><\/td>86,738 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,046 <\/td><\/td><\/td>2,852 <\/td><\/td><\/td>14,875 <\/td><\/td><\/td>12,699 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>21,448 <\/td><\/td><\/td>$<\/td>19,881 <\/td><\/td><\/td>$<\/td>79,000 <\/td><\/td><\/td>$<\/td>74,039 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.40 <\/td><\/td><\/td>$<\/td>1.27 <\/td><\/td><\/td>$<\/td>5.13 <\/td><\/td><\/td>$<\/td>4.69 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.40 <\/td><\/td><\/td>$<\/td>1.26 <\/td><\/td><\/td>$<\/td>5.11 <\/td><\/td><\/td>$<\/td>4.67 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,287,521 <\/td><\/td><\/td>15,697,614 <\/td><\/td><\/td>15,401,047 <\/td><\/td><\/td>15,792,497 <\/td><\/td><\/tr>
Diluted<\/td>15,348,175 <\/td><\/td><\/td>15,775,021 <\/td><\/td><\/td>15,463,175 <\/td><\/td><\/td>15,859,263 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 1\n\n\n\n\n\n, Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>25,565 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>36,236 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>22,795 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>20,377 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,165 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>14,297 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>125,435 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>91,240 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>44,502 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,435 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>206,177 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>47,574 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>60,889 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,053 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>2,994 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>12,114 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>131,624 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>86,196 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,084 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>133,280 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>264,904 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively<\/td>79,850 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(4,726)<\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,416)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>66,708 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Nine Months Ended<\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>July 1,2023<\/td><\/td>June 29,2024<\/td><\/td>July 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>61,564 <\/td><\/td><\/td>$<\/td>60,584 <\/td><\/td><\/td>$<\/td>224,908 <\/td><\/td><\/td>$<\/td>230,901 <\/td><\/td><\/tr>
Services<\/td>24,213 <\/td><\/td><\/td>21,213 <\/td><\/td><\/td>71,197 <\/td><\/td><\/td>62,886 <\/td><\/td><\/tr>
Total net sales<\/td>85,777 <\/td><\/td><\/td>81,797 <\/td><\/td><\/td>296,105 <\/td><\/td><\/td>293,787 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>39,803 <\/td><\/td><\/td>39,136 <\/td><\/td><\/td>140,667 <\/td><\/td><\/td>146,696 <\/td><\/td><\/tr>
Services<\/td>6,296 <\/td><\/td><\/td>6,248 <\/td><\/td><\/td>18,634 <\/td><\/td><\/td>18,370 <\/td><\/td><\/tr>
Total cost of sales<\/td>46,099 <\/td><\/td><\/td>45,384 <\/td><\/td><\/td>159,301 <\/td><\/td><\/td>165,066 <\/td><\/td><\/tr>
Gross margin<\/td>39,678 <\/td><\/td><\/td>36,413 <\/td><\/td><\/td>136,804 <\/td><\/td><\/td>128,721 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>8,006 <\/td><\/td><\/td>7,442 <\/td><\/td><\/td>23,605 <\/td><\/td><\/td>22,608 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,320 <\/td><\/td><\/td>5,973 <\/td><\/td><\/td>19,574 <\/td><\/td><\/td>18,781 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,326 <\/td><\/td><\/td>13,415 <\/td><\/td><\/td>43,179 <\/td><\/td><\/td>41,389 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>25,352 <\/td><\/td><\/td>22,998 <\/td><\/td><\/td>93,625 <\/td><\/td><\/td>87,332 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>142 <\/td><\/td><\/td>(265)<\/td><\/td><\/td>250 <\/td><\/td><\/td>(594)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>25,494 <\/td><\/td><\/td>22,733 <\/td><\/td><\/td>93,875 <\/td><\/td><\/td>86,738 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,046 <\/td><\/td><\/td>2,852 <\/td><\/td><\/td>14,875 <\/td><\/td><\/td>12,699 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>21,448 <\/td><\/td><\/td>$<\/td>19,881 <\/td><\/td><\/td>$<\/td>79,000 <\/td><\/td><\/td>$<\/td>74,039 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.40 <\/td><\/td><\/td>$<\/td>1.27 <\/td><\/td><\/td>$<\/td>5.13 <\/td><\/td><\/td>$<\/td>4.69 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.40 <\/td><\/td><\/td>$<\/td>1.26 <\/td><\/td><\/td>$<\/td>5.11 <\/td><\/td><\/td>$<\/td>4.67 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,287,521 <\/td><\/td><\/td>15,697,614 <\/td><\/td><\/td>15,401,047 <\/td><\/td><\/td>15,792,497 <\/td><\/td><\/tr>
Diluted<\/td>15,348,175 <\/td><\/td><\/td>15,775,021 <\/td><\/td><\/td>15,463,175 <\/td><\/td><\/td>15,859,263 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 1\n\n\n\n\n\n, \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 29,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>25,565 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>36,236 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>22,795 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>20,377 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,165 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>14,297 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>125,435 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>91,240 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>44,502 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,435 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>206,177 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>47,574 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>60,889 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,053 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>2,994 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>12,114 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>131,624 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>86,196 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,084 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>133,280 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>264,904 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively<\/td>79,850 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Accumulated deficit<\/td>(4,726)<\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,416)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>66,708 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>331,612 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q3 2024 Form 10-Q | 3\n\n\n\n\n\n"} +{"QID":"q_Ra140","Question":"What is the Return on Equity (ROE) for Apple Inc. for the six months ended March 30, 2024?","ground_truth_answer":"The Return on Equity (ROE) for Apple Inc. for the six months ended March 30, 2024, is calculated as follows:\nROE = (Net Income \/ Shareholder's Equity) * 100\nNet Income (six months ended March 30, 2024) = $57,552 million\nShareholder's Equity (ending balance) = $74,194 million\nROE = (57,552 \/ 74,194) * 100 = 77.56%","question_type":"Ratio","page_number":"1, 4","accession_number":"0000320193-24-000069","item":"Item 1. Financial Statements","context_markdown_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:-----------------|:-----------|:--------------|:-------|:-------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | | |\n| 2 | | March 30,2024 | | April 1,2023 | | March 30,2024 | | April 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 66,886 | | | $ | 73,929 | | $ | 163,344 | $ | 170,317 |\n| 5 | Services | 23,867 | | | 20,907 | | | 46,984 | | 41,673 | | |\n| 6 | Total net sales | 90,753 | | | 94,836 | | | 210,328 | | 211,990 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 42,424 | | | 46,795 | | | 100,864 | | 107,560 | | |\n| 10 | Services | 6,058 | | | 6,065 | | | 12,338 | | 12,122 | | |\n| 11 | Total cost of sales | 48,482 | | | 52,860 | | | 113,202 | | 119,682 | | |\n| 12 | Gross margin | 42,271 | | | 41,976 | | | 97,126 | | 92,308 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 7,903 | | | 7,457 | | | 15,599 | | 15,166 | | |\n| 16 | Selling, general and administrative | 6,468 | | | 6,201 | | | 13,254 | | 12,808 | | |\n| 17 | Total operating expenses | 14,371 | | | 13,658 | | | 28,853 | | 27,974 | | |\n| 19 | Operating income | 27,900 | | | 28,318 | | | 68,273 | | 64,334 | | |\n| 20 | Other income\/(expense), net | 158 | | | 64 | | | 108 | | (329) | | |\n| 21 | Income before provision for income taxes | 28,058 | | | 28,382 | | | 68,381 | | 64,005 | | |\n| 22 | Provision for income taxes | 4,422 | | | 4,222 | | | 10,829 | | 9,847 | | |\n| 23 | Net income | $ | 23,636 | | | $ | 24,160 | | $ | 57,552 | $ | 54,158 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.53 | | | $ | 1.53 | | $ | 3.72 | $ | 3.42 |\n| 27 | Diluted | $ | 1.53 | | | $ | 1.52 | | $ | 3.71 | $ | 3.41 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,405,856 | | | 15,787,154 | | | 15,457,810 | | 15,839,939 | | |\n| 31 | Diluted | 15,464,709 | | | 15,847,050 | | | 15,520,675 | | 15,901,384 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 4: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited)\n\n(In millions, except per-share amounts)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------|:-------------------|:-------|:-----------------|:---------|:--------------|:-------|:-------------|:---|:---------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | | |\n| 2 | | March 30,2024 | | April 1,2023 | | March 30,2024 | | April 1,2023 | | | | |\n| 3 | Total shareholders' equity, beginning balances | $ | 74,100 | | | $ | 56,727 | | $ | 62,146 | $ | 50,672 |\n| 5 | Common stock and additional paid-in capital: | | | | | | | | | | | |\n| 6 | Beginning balances | 75,236 | | | 66,399 | | | 73,812 | | 64,849 | | |\n| 7 | Common stock issued | 752 | | | 690 | | | 752 | | 690 | | |\n| 8 | Common stock withheld related to net share settlement of equity awards | (222) | | | (281) | | | (1,882) | | (1,715) | | |\n| 9 | Share-based compensation | 3,049 | | | 2,760 | | | 6,133 | | 5,744 | | |\n| 10 | Ending balances | 78,815 | | | 69,568 | | | 78,815 | | 69,568 | | |\n| 12 | Retained earnings\/(Accumulated deficit): | | | | | | | | | | | |\n| 13 | Beginning balances | 8,242 | | | 3,240 | | | (214) | | (3,068) | | |\n| 14 | Net income | 23,636 | | | 24,160 | | | 57,552 | | 54,158 | | |\n| 15 | Dividends and dividend equivalents declared | (3,746) | | | (3,684) | | | (7,520) | | (7,396) | | |\n| 16 | Common stock withheld related to net share settlement of equity awards | (71) | | | (152) | | | (1,089) | | (1,130) | | |\n| 17 | Common stock repurchased | (23,722) | | | (19,228) | | | (44,390) | | (38,228) | | |\n| 18 | Ending balances | 4,339 | | | 4,336 | | | 4,339 | | 4,336 | | |\n| 20 | Accumulated other comprehensive income\/(loss): | | | | | | | | | | | |\n| 21 | Beginning balances | (9,378) | | | (12,912) | | | (11,452) | | (11,109) | | |\n| 22 | Other comprehensive income\/(loss) | 418 | | | 1,166 | | | 2,492 | | (637) | | |\n| 23 | Ending balances | (8,960) | | | (11,746) | | | (8,960) | | (11,746) | | |\n| 25 | Total shareholders' equity, ending balances | $ | 74,194 | | | $ | 62,158 | | $ | 74,194 | $ | 62,158 |\n| 27 | Dividends and dividend equivalents declared per share or RSU | $ | 0.24 | | | $ | 0.23 | | $ | 0.48 | $ | 0.46 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 4\n\n\n\n\n\n","context_markdown_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:-----------------|:-----------|:--------------|:-------|:-------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | | |\n| 2 | | March 30,2024 | | April 1,2023 | | March 30,2024 | | April 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 66,886 | | | $ | 73,929 | | $ | 163,344 | $ | 170,317 |\n| 5 | Services | 23,867 | | | 20,907 | | | 46,984 | | 41,673 | | |\n| 6 | Total net sales | 90,753 | | | 94,836 | | | 210,328 | | 211,990 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 42,424 | | | 46,795 | | | 100,864 | | 107,560 | | |\n| 10 | Services | 6,058 | | | 6,065 | | | 12,338 | | 12,122 | | |\n| 11 | Total cost of sales | 48,482 | | | 52,860 | | | 113,202 | | 119,682 | | |\n| 12 | Gross margin | 42,271 | | | 41,976 | | | 97,126 | | 92,308 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 7,903 | | | 7,457 | | | 15,599 | | 15,166 | | |\n| 16 | Selling, general and administrative | 6,468 | | | 6,201 | | | 13,254 | | 12,808 | | |\n| 17 | Total operating expenses | 14,371 | | | 13,658 | | | 28,853 | | 27,974 | | |\n| 19 | Operating income | 27,900 | | | 28,318 | | | 68,273 | | 64,334 | | |\n| 20 | Other income\/(expense), net | 158 | | | 64 | | | 108 | | (329) | | |\n| 21 | Income before provision for income taxes | 28,058 | | | 28,382 | | | 68,381 | | 64,005 | | |\n| 22 | Provision for income taxes | 4,422 | | | 4,222 | | | 10,829 | | 9,847 | | |\n| 23 | Net income | $ | 23,636 | | | $ | 24,160 | | $ | 57,552 | $ | 54,158 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.53 | | | $ | 1.53 | | $ | 3.72 | $ | 3.42 |\n| 27 | Diluted | $ | 1.53 | | | $ | 1.52 | | $ | 3.71 | $ | 3.41 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,405,856 | | | 15,787,154 | | | 15,457,810 | | 15,839,939 | | |\n| 31 | Diluted | 15,464,709 | | | 15,847,050 | | | 15,520,675 | | 15,901,384 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, \nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited)\n\n(In millions, except per-share amounts)\n| | | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------|:-------------------|:-------|:-----------------|:---------|:--------------|:-------|:-------------|:---|:---------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | | |\n| 2 | | March 30,2024 | | April 1,2023 | | March 30,2024 | | April 1,2023 | | | | |\n| 3 | Total shareholders' equity, beginning balances | $ | 74,100 | | | $ | 56,727 | | $ | 62,146 | $ | 50,672 |\n| 5 | Common stock and additional paid-in capital: | | | | | | | | | | | |\n| 6 | Beginning balances | 75,236 | | | 66,399 | | | 73,812 | | 64,849 | | |\n| 7 | Common stock issued | 752 | | | 690 | | | 752 | | 690 | | |\n| 8 | Common stock withheld related to net share settlement of equity awards | (222) | | | (281) | | | (1,882) | | (1,715) | | |\n| 9 | Share-based compensation | 3,049 | | | 2,760 | | | 6,133 | | 5,744 | | |\n| 10 | Ending balances | 78,815 | | | 69,568 | | | 78,815 | | 69,568 | | |\n| 12 | Retained earnings\/(Accumulated deficit): | | | | | | | | | | | |\n| 13 | Beginning balances | 8,242 | | | 3,240 | | | (214) | | (3,068) | | |\n| 14 | Net income | 23,636 | | | 24,160 | | | 57,552 | | 54,158 | | |\n| 15 | Dividends and dividend equivalents declared | (3,746) | | | (3,684) | | | (7,520) | | (7,396) | | |\n| 16 | Common stock withheld related to net share settlement of equity awards | (71) | | | (152) | | | (1,089) | | (1,130) | | |\n| 17 | Common stock repurchased | (23,722) | | | (19,228) | | | (44,390) | | (38,228) | | |\n| 18 | Ending balances | 4,339 | | | 4,336 | | | 4,339 | | 4,336 | | |\n| 20 | Accumulated other comprehensive income\/(loss): | | | | | | | | | | | |\n| 21 | Beginning balances | (9,378) | | | (12,912) | | | (11,452) | | (11,109) | | |\n| 22 | Other comprehensive income\/(loss) | 418 | | | 1,166 | | | 2,492 | | (637) | | |\n| 23 | Ending balances | (8,960) | | | (11,746) | | | (8,960) | | (11,746) | | |\n| 25 | Total shareholders' equity, ending balances | $ | 74,194 | | | $ | 62,158 | | $ | 74,194 | $ | 62,158 |\n| 27 | Dividends and dividend equivalents declared per share or RSU | $ | 0.24 | | | $ | 0.23 | | $ | 0.48 | $ | 0.46 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 4\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>66,886 <\/td><\/td><\/td>$<\/td>73,929 <\/td><\/td><\/td>$<\/td>163,344 <\/td><\/td><\/td>$<\/td>170,317 <\/td><\/td><\/tr>
Services<\/td>23,867 <\/td><\/td><\/td>20,907 <\/td><\/td><\/td>46,984 <\/td><\/td><\/td>41,673 <\/td><\/td><\/tr>
Total net sales<\/td>90,753 <\/td><\/td><\/td>94,836 <\/td><\/td><\/td>210,328 <\/td><\/td><\/td>211,990 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>42,424 <\/td><\/td><\/td>46,795 <\/td><\/td><\/td>100,864 <\/td><\/td><\/td>107,560 <\/td><\/td><\/tr>
Services<\/td>6,058 <\/td><\/td><\/td>6,065 <\/td><\/td><\/td>12,338 <\/td><\/td><\/td>12,122 <\/td><\/td><\/tr>
Total cost of sales<\/td>48,482 <\/td><\/td><\/td>52,860 <\/td><\/td><\/td>113,202 <\/td><\/td><\/td>119,682 <\/td><\/td><\/tr>
Gross margin<\/td>42,271 <\/td><\/td><\/td>41,976 <\/td><\/td><\/td>97,126 <\/td><\/td><\/td>92,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>7,903 <\/td><\/td><\/td>7,457 <\/td><\/td><\/td>15,599 <\/td><\/td><\/td>15,166 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,468 <\/td><\/td><\/td>6,201 <\/td><\/td><\/td>13,254 <\/td><\/td><\/td>12,808 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,371 <\/td><\/td><\/td>13,658 <\/td><\/td><\/td>28,853 <\/td><\/td><\/td>27,974 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>27,900 <\/td><\/td><\/td>28,318 <\/td><\/td><\/td>68,273 <\/td><\/td><\/td>64,334 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>158 <\/td><\/td><\/td>64 <\/td><\/td><\/td>108 <\/td><\/td><\/td>(329)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>28,058 <\/td><\/td><\/td>28,382 <\/td><\/td><\/td>68,381 <\/td><\/td><\/td>64,005 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,422 <\/td><\/td><\/td>4,222 <\/td><\/td><\/td>10,829 <\/td><\/td><\/td>9,847 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>23,636 <\/td><\/td><\/td>$<\/td>24,160 <\/td><\/td><\/td>$<\/td>57,552 <\/td><\/td><\/td>$<\/td>54,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>3.72 <\/td><\/td><\/td>$<\/td>3.42 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.52 <\/td><\/td><\/td>$<\/td>3.71 <\/td><\/td><\/td>$<\/td>3.41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,405,856 <\/td><\/td><\/td>15,787,154 <\/td><\/td><\/td>15,457,810 <\/td><\/td><\/td>15,839,939 <\/td><\/td><\/tr>
Diluted<\/td>15,464,709 <\/td><\/td><\/td>15,847,050 <\/td><\/td><\/td>15,520,675 <\/td><\/td><\/td>15,901,384 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 4: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited)\n\n(In millions, except per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/tr>
Total shareholders' equity, beginning balances<\/td>$<\/td>74,100 <\/td><\/td><\/td>$<\/td>56,727 <\/td><\/td><\/td>$<\/td>62,146 <\/td><\/td><\/td>$<\/td>50,672 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>75,236 <\/td><\/td><\/td>66,399 <\/td><\/td><\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Common stock issued<\/td>752 <\/td><\/td><\/td>690 <\/td><\/td><\/td>752 <\/td><\/td><\/td>690 <\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(222)<\/td><\/td><\/td>(281)<\/td><\/td><\/td>(1,882)<\/td><\/td><\/td>(1,715)<\/td><\/td><\/tr>
Share-based compensation<\/td>3,049 <\/td><\/td><\/td>2,760 <\/td><\/td><\/td>6,133 <\/td><\/td><\/td>5,744 <\/td><\/td><\/tr>
Ending balances<\/td>78,815 <\/td><\/td><\/td>69,568 <\/td><\/td><\/td>78,815 <\/td><\/td><\/td>69,568 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit):<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>8,242 <\/td><\/td><\/td>3,240 <\/td><\/td><\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Net income<\/td>23,636 <\/td><\/td><\/td>24,160 <\/td><\/td><\/td>57,552 <\/td><\/td><\/td>54,158 <\/td><\/td><\/tr>
Dividends and dividend equivalents declared<\/td>(3,746)<\/td><\/td><\/td>(3,684)<\/td><\/td><\/td>(7,520)<\/td><\/td><\/td>(7,396)<\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(71)<\/td><\/td><\/td>(152)<\/td><\/td><\/td>(1,089)<\/td><\/td><\/td>(1,130)<\/td><\/td><\/tr>
Common stock repurchased<\/td>(23,722)<\/td><\/td><\/td>(19,228)<\/td><\/td><\/td>(44,390)<\/td><\/td><\/td>(38,228)<\/td><\/td><\/tr>
Ending balances<\/td>4,339 <\/td><\/td><\/td>4,336 <\/td><\/td><\/td>4,339 <\/td><\/td><\/td>4,336 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income\/(loss):<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(9,378)<\/td><\/td><\/td>(12,912)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>418 <\/td><\/td><\/td>1,166 <\/td><\/td><\/td>2,492 <\/td><\/td><\/td>(637)<\/td><\/td><\/tr>
Ending balances<\/td>(8,960)<\/td><\/td><\/td>(11,746)<\/td><\/td><\/td>(8,960)<\/td><\/td><\/td>(11,746)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total shareholders' equity, ending balances<\/td>$<\/td>74,194 <\/td><\/td><\/td>$<\/td>62,158 <\/td><\/td><\/td>$<\/td>74,194 <\/td><\/td><\/td>$<\/td>62,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Dividends and dividend equivalents declared per share or RSU<\/td>$<\/td>0.24 <\/td><\/td><\/td>$<\/td>0.23 <\/td><\/td><\/td>$<\/td>0.48 <\/td><\/td><\/td>$<\/td>0.46 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 4\n\n\n\n\n\n","context_html_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>66,886 <\/td><\/td><\/td>$<\/td>73,929 <\/td><\/td><\/td>$<\/td>163,344 <\/td><\/td><\/td>$<\/td>170,317 <\/td><\/td><\/tr>
Services<\/td>23,867 <\/td><\/td><\/td>20,907 <\/td><\/td><\/td>46,984 <\/td><\/td><\/td>41,673 <\/td><\/td><\/tr>
Total net sales<\/td>90,753 <\/td><\/td><\/td>94,836 <\/td><\/td><\/td>210,328 <\/td><\/td><\/td>211,990 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>42,424 <\/td><\/td><\/td>46,795 <\/td><\/td><\/td>100,864 <\/td><\/td><\/td>107,560 <\/td><\/td><\/tr>
Services<\/td>6,058 <\/td><\/td><\/td>6,065 <\/td><\/td><\/td>12,338 <\/td><\/td><\/td>12,122 <\/td><\/td><\/tr>
Total cost of sales<\/td>48,482 <\/td><\/td><\/td>52,860 <\/td><\/td><\/td>113,202 <\/td><\/td><\/td>119,682 <\/td><\/td><\/tr>
Gross margin<\/td>42,271 <\/td><\/td><\/td>41,976 <\/td><\/td><\/td>97,126 <\/td><\/td><\/td>92,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>7,903 <\/td><\/td><\/td>7,457 <\/td><\/td><\/td>15,599 <\/td><\/td><\/td>15,166 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,468 <\/td><\/td><\/td>6,201 <\/td><\/td><\/td>13,254 <\/td><\/td><\/td>12,808 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,371 <\/td><\/td><\/td>13,658 <\/td><\/td><\/td>28,853 <\/td><\/td><\/td>27,974 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>27,900 <\/td><\/td><\/td>28,318 <\/td><\/td><\/td>68,273 <\/td><\/td><\/td>64,334 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>158 <\/td><\/td><\/td>64 <\/td><\/td><\/td>108 <\/td><\/td><\/td>(329)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>28,058 <\/td><\/td><\/td>28,382 <\/td><\/td><\/td>68,381 <\/td><\/td><\/td>64,005 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,422 <\/td><\/td><\/td>4,222 <\/td><\/td><\/td>10,829 <\/td><\/td><\/td>9,847 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>23,636 <\/td><\/td><\/td>$<\/td>24,160 <\/td><\/td><\/td>$<\/td>57,552 <\/td><\/td><\/td>$<\/td>54,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>3.72 <\/td><\/td><\/td>$<\/td>3.42 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.52 <\/td><\/td><\/td>$<\/td>3.71 <\/td><\/td><\/td>$<\/td>3.41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,405,856 <\/td><\/td><\/td>15,787,154 <\/td><\/td><\/td>15,457,810 <\/td><\/td><\/td>15,839,939 <\/td><\/td><\/tr>
Diluted<\/td>15,464,709 <\/td><\/td><\/td>15,847,050 <\/td><\/td><\/td>15,520,675 <\/td><\/td><\/td>15,901,384 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, \nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited)\n\n(In millions, except per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/tr>
Total shareholders' equity, beginning balances<\/td>$<\/td>74,100 <\/td><\/td><\/td>$<\/td>56,727 <\/td><\/td><\/td>$<\/td>62,146 <\/td><\/td><\/td>$<\/td>50,672 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>75,236 <\/td><\/td><\/td>66,399 <\/td><\/td><\/td>73,812 <\/td><\/td><\/td>64,849 <\/td><\/td><\/tr>
Common stock issued<\/td>752 <\/td><\/td><\/td>690 <\/td><\/td><\/td>752 <\/td><\/td><\/td>690 <\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(222)<\/td><\/td><\/td>(281)<\/td><\/td><\/td>(1,882)<\/td><\/td><\/td>(1,715)<\/td><\/td><\/tr>
Share-based compensation<\/td>3,049 <\/td><\/td><\/td>2,760 <\/td><\/td><\/td>6,133 <\/td><\/td><\/td>5,744 <\/td><\/td><\/tr>
Ending balances<\/td>78,815 <\/td><\/td><\/td>69,568 <\/td><\/td><\/td>78,815 <\/td><\/td><\/td>69,568 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit):<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>8,242 <\/td><\/td><\/td>3,240 <\/td><\/td><\/td>(214)<\/td><\/td><\/td>(3,068)<\/td><\/td><\/tr>
Net income<\/td>23,636 <\/td><\/td><\/td>24,160 <\/td><\/td><\/td>57,552 <\/td><\/td><\/td>54,158 <\/td><\/td><\/tr>
Dividends and dividend equivalents declared<\/td>(3,746)<\/td><\/td><\/td>(3,684)<\/td><\/td><\/td>(7,520)<\/td><\/td><\/td>(7,396)<\/td><\/td><\/tr>
Common stock withheld related to net share settlement of equity awards<\/td>(71)<\/td><\/td><\/td>(152)<\/td><\/td><\/td>(1,089)<\/td><\/td><\/td>(1,130)<\/td><\/td><\/tr>
Common stock repurchased<\/td>(23,722)<\/td><\/td><\/td>(19,228)<\/td><\/td><\/td>(44,390)<\/td><\/td><\/td>(38,228)<\/td><\/td><\/tr>
Ending balances<\/td>4,339 <\/td><\/td><\/td>4,336 <\/td><\/td><\/td>4,339 <\/td><\/td><\/td>4,336 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Accumulated other comprehensive income\/(loss):<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Beginning balances<\/td>(9,378)<\/td><\/td><\/td>(12,912)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/td>(11,109)<\/td><\/td><\/tr>
Other comprehensive income\/(loss)<\/td>418 <\/td><\/td><\/td>1,166 <\/td><\/td><\/td>2,492 <\/td><\/td><\/td>(637)<\/td><\/td><\/tr>
Ending balances<\/td>(8,960)<\/td><\/td><\/td>(11,746)<\/td><\/td><\/td>(8,960)<\/td><\/td><\/td>(11,746)<\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Total shareholders' equity, ending balances<\/td>$<\/td>74,194 <\/td><\/td><\/td>$<\/td>62,158 <\/td><\/td><\/td>$<\/td>74,194 <\/td><\/td><\/td>$<\/td>62,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Dividends and dividend equivalents declared per share or RSU<\/td>$<\/td>0.24 <\/td><\/td><\/td>$<\/td>0.23 <\/td><\/td><\/td>$<\/td>0.48 <\/td><\/td><\/td>$<\/td>0.46 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 4\n\n\n\n\n\n"} +{"QID":"q_Ra141","Question":"What is the Financial Leverage Ratio for Apple Inc. as of March 30, 2024?","ground_truth_answer":"The Financial Leverage Ratio for Apple Inc. as of March 30, 2024, is calculated as follows:\nFinancial Leverage Ratio = Total Assets \/ Shareholders' Equity\nTotal Assets = $337,411 million\nShareholders' Equity = $74,194 million\nFinancial Leverage Ratio = 337,411 \/ 74,194 = 4.55","question_type":"Ratio","page_number":3,"accession_number":"0000320193-24-000069","item":"Item 1. Financial Statements","context_markdown_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | March 30,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 32,695 | | | $ | 29,965 |\n| 5 | Marketable securities | 34,455 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 21,837 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 19,313 | | | 31,477 | | |\n| 8 | Inventories | 6,232 | | | 6,331 | | |\n| 9 | Other current assets | 13,884 | | | 14,695 | | |\n| 10 | Total current assets | 128,416 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 95,187 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 43,546 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,262 | | | 64,758 | | |\n| 16 | Total non-current assets | 208,995 | | | 209,017 | | |\n| 17 | Total assets | $ | 337,411 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 45,753 | | | $ | 62,611 |\n| 22 | Other current liabilities | 57,298 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,012 | | | 8,061 | | |\n| 24 | Commercial paper | 1,997 | | | 5,985 | | |\n| 25 | Term debt | 10,762 | | | 9,822 | | |\n| 26 | Total current liabilities | 123,822 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 91,831 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,564 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 139,395 | | | 145,129 | | |\n| 32 | Total liabilities | 263,217 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively | 78,815 | | | 73,812 | | |\n| 38 | Retained earnings\/(Accumulated deficit) | 4,339 | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,960) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 74,194 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 337,411 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | March 30,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 32,695 | | | $ | 29,965 |\n| 5 | Marketable securities | 34,455 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 21,837 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 19,313 | | | 31,477 | | |\n| 8 | Inventories | 6,232 | | | 6,331 | | |\n| 9 | Other current assets | 13,884 | | | 14,695 | | |\n| 10 | Total current assets | 128,416 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 95,187 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 43,546 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,262 | | | 64,758 | | |\n| 16 | Total non-current assets | 208,995 | | | 209,017 | | |\n| 17 | Total assets | $ | 337,411 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 45,753 | | | $ | 62,611 |\n| 22 | Other current liabilities | 57,298 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,012 | | | 8,061 | | |\n| 24 | Commercial paper | 1,997 | | | 5,985 | | |\n| 25 | Term debt | 10,762 | | | 9,822 | | |\n| 26 | Total current liabilities | 123,822 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 91,831 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,564 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 139,395 | | | 145,129 | | |\n| 32 | Total liabilities | 263,217 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively | 78,815 | | | 73,812 | | |\n| 38 | Retained earnings\/(Accumulated deficit) | 4,339 | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,960) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 74,194 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 337,411 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>32,695 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>34,455 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>21,837 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>19,313 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,232 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>13,884 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>128,416 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>95,187 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,546 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,262 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>208,995 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>45,753 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>57,298 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,012 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>1,997 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>10,762 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>123,822 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>91,831 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,564 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>139,395 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>263,217 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively<\/td>78,815 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit)<\/td>4,339 <\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,960)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>74,194 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>32,695 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>34,455 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>21,837 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>19,313 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,232 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>13,884 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>128,416 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>95,187 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,546 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,262 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>208,995 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>45,753 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>57,298 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,012 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>1,997 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>10,762 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>123,822 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>91,831 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,564 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>139,395 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>263,217 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively<\/td>78,815 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit)<\/td>4,339 <\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,960)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>74,194 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n"} +{"QID":"q_Ra142","Question":"What is the Long-term Debt to Capitalization Ratio for Apple Inc. as of March 30, 2024?","ground_truth_answer":"Long-term Debt to Capitalization Ratio = Long-term Debt \/ (Long-term Debt + Shareholders' Equity) = 91,831 \/ (91,831 + 74,194) = 0.55","question_type":"Ratio","page_number":3,"accession_number":"0000320193-24-000069","item":"Item 1. Financial Statements","context_markdown_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | March 30,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 32,695 | | | $ | 29,965 |\n| 5 | Marketable securities | 34,455 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 21,837 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 19,313 | | | 31,477 | | |\n| 8 | Inventories | 6,232 | | | 6,331 | | |\n| 9 | Other current assets | 13,884 | | | 14,695 | | |\n| 10 | Total current assets | 128,416 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 95,187 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 43,546 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,262 | | | 64,758 | | |\n| 16 | Total non-current assets | 208,995 | | | 209,017 | | |\n| 17 | Total assets | $ | 337,411 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 45,753 | | | $ | 62,611 |\n| 22 | Other current liabilities | 57,298 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,012 | | | 8,061 | | |\n| 24 | Commercial paper | 1,997 | | | 5,985 | | |\n| 25 | Term debt | 10,762 | | | 9,822 | | |\n| 26 | Total current liabilities | 123,822 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 91,831 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,564 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 139,395 | | | 145,129 | | |\n| 32 | Total liabilities | 263,217 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively | 78,815 | | | 73,812 | | |\n| 38 | Retained earnings\/(Accumulated deficit) | 4,339 | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,960) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 74,194 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 337,411 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | March 30,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 32,695 | | | $ | 29,965 |\n| 5 | Marketable securities | 34,455 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 21,837 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 19,313 | | | 31,477 | | |\n| 8 | Inventories | 6,232 | | | 6,331 | | |\n| 9 | Other current assets | 13,884 | | | 14,695 | | |\n| 10 | Total current assets | 128,416 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 95,187 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 43,546 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,262 | | | 64,758 | | |\n| 16 | Total non-current assets | 208,995 | | | 209,017 | | |\n| 17 | Total assets | $ | 337,411 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 45,753 | | | $ | 62,611 |\n| 22 | Other current liabilities | 57,298 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,012 | | | 8,061 | | |\n| 24 | Commercial paper | 1,997 | | | 5,985 | | |\n| 25 | Term debt | 10,762 | | | 9,822 | | |\n| 26 | Total current liabilities | 123,822 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 91,831 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,564 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 139,395 | | | 145,129 | | |\n| 32 | Total liabilities | 263,217 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively | 78,815 | | | 73,812 | | |\n| 38 | Retained earnings\/(Accumulated deficit) | 4,339 | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,960) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 74,194 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 337,411 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>32,695 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>34,455 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>21,837 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>19,313 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,232 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>13,884 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>128,416 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>95,187 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,546 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,262 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>208,995 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>45,753 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>57,298 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,012 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>1,997 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>10,762 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>123,822 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>91,831 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,564 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>139,395 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>263,217 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively<\/td>78,815 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit)<\/td>4,339 <\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,960)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>74,194 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>32,695 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>34,455 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>21,837 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>19,313 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,232 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>13,884 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>128,416 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>95,187 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,546 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,262 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>208,995 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>45,753 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>57,298 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,012 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>1,997 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>10,762 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>123,822 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>91,831 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,564 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>139,395 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>263,217 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively<\/td>78,815 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit)<\/td>4,339 <\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,960)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>74,194 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n"} +{"QID":"q_Ra143","Question":"What is the Cash Ratio for Apple Inc. as of March 30, 2024?","ground_truth_answer":"The Cash Ratio for Apple Inc. as of March 30, 2024, is calculated as follows:\nCash Ratio = Cash & Cash Equivalents \/ Current Liabilities\nCash & Cash Equivalents = $32,695 million\nCurrent Liabilities = $123,822 million\nCash Ratio = 32,695 \/ 123,822 = 0.26","question_type":"Ratio","page_number":3,"accession_number":"0000320193-24-000069","item":"Item 1. Financial Statements","context_markdown_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | March 30,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 32,695 | | | $ | 29,965 |\n| 5 | Marketable securities | 34,455 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 21,837 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 19,313 | | | 31,477 | | |\n| 8 | Inventories | 6,232 | | | 6,331 | | |\n| 9 | Other current assets | 13,884 | | | 14,695 | | |\n| 10 | Total current assets | 128,416 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 95,187 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 43,546 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,262 | | | 64,758 | | |\n| 16 | Total non-current assets | 208,995 | | | 209,017 | | |\n| 17 | Total assets | $ | 337,411 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 45,753 | | | $ | 62,611 |\n| 22 | Other current liabilities | 57,298 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,012 | | | 8,061 | | |\n| 24 | Commercial paper | 1,997 | | | 5,985 | | |\n| 25 | Term debt | 10,762 | | | 9,822 | | |\n| 26 | Total current liabilities | 123,822 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 91,831 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,564 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 139,395 | | | 145,129 | | |\n| 32 | Total liabilities | 263,217 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively | 78,815 | | | 73,812 | | |\n| 38 | Retained earnings\/(Accumulated deficit) | 4,339 | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,960) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 74,194 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 337,411 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_markdown_without_headers":"\nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | March 30,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 32,695 | | | $ | 29,965 |\n| 5 | Marketable securities | 34,455 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 21,837 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 19,313 | | | 31,477 | | |\n| 8 | Inventories | 6,232 | | | 6,331 | | |\n| 9 | Other current assets | 13,884 | | | 14,695 | | |\n| 10 | Total current assets | 128,416 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 95,187 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 43,546 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,262 | | | 64,758 | | |\n| 16 | Total non-current assets | 208,995 | | | 209,017 | | |\n| 17 | Total assets | $ | 337,411 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 45,753 | | | $ | 62,611 |\n| 22 | Other current liabilities | 57,298 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,012 | | | 8,061 | | |\n| 24 | Commercial paper | 1,997 | | | 5,985 | | |\n| 25 | Term debt | 10,762 | | | 9,822 | | |\n| 26 | Total current liabilities | 123,822 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 91,831 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,564 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 139,395 | | | 145,129 | | |\n| 32 | Total liabilities | 263,217 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively | 78,815 | | | 73,812 | | |\n| 38 | Retained earnings\/(Accumulated deficit) | 4,339 | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,960) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 74,194 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 337,411 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>32,695 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>34,455 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>21,837 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>19,313 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,232 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>13,884 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>128,416 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>95,187 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,546 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,262 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>208,995 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>45,753 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>57,298 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,012 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>1,997 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>10,762 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>123,822 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>91,831 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,564 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>139,395 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>263,217 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively<\/td>78,815 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit)<\/td>4,339 <\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,960)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>74,194 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_without_headers":"\nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>32,695 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>34,455 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>21,837 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>19,313 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,232 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>13,884 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>128,416 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>95,187 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,546 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,262 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>208,995 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>45,753 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>57,298 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,012 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>1,997 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>10,762 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>123,822 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>91,831 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,564 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>139,395 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>263,217 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively<\/td>78,815 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit)<\/td>4,339 <\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,960)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>74,194 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n"} +{"QID":"q_Ra144","Question":" What is the Asset Turnover Ratio for Apple Inc. for the six months ended March 30, 2024?","ground_truth_answer":"The Asset Turnover Ratio for Apple Inc. for the six months ended March 30, 2024, is calculated as follows:\nAsset Turnover Ratio = Net Sales \/ Average Total Assets\nNet Sales (six months ended March 30, 2024) = $210,328 million\nAverage Total Assets = (Total Assets at March 30, 2024 + Total Assets at September 30, 2023) \/ 2 = ($337,411 million + $352,583 million) \/ 2 = $344,997 million\nAsset Turnover Ratio = 210,328 \/ 344,997 = 0.61","question_type":"Ratio","page_number":"1, 3","accession_number":"0000320193-24-000069","item":"Item 1. Financial Statements","context_markdown_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:-----------------|:-----------|:--------------|:-------|:-------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | | |\n| 2 | | March 30,2024 | | April 1,2023 | | March 30,2024 | | April 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 66,886 | | | $ | 73,929 | | $ | 163,344 | $ | 170,317 |\n| 5 | Services | 23,867 | | | 20,907 | | | 46,984 | | 41,673 | | |\n| 6 | Total net sales | 90,753 | | | 94,836 | | | 210,328 | | 211,990 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 42,424 | | | 46,795 | | | 100,864 | | 107,560 | | |\n| 10 | Services | 6,058 | | | 6,065 | | | 12,338 | | 12,122 | | |\n| 11 | Total cost of sales | 48,482 | | | 52,860 | | | 113,202 | | 119,682 | | |\n| 12 | Gross margin | 42,271 | | | 41,976 | | | 97,126 | | 92,308 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 7,903 | | | 7,457 | | | 15,599 | | 15,166 | | |\n| 16 | Selling, general and administrative | 6,468 | | | 6,201 | | | 13,254 | | 12,808 | | |\n| 17 | Total operating expenses | 14,371 | | | 13,658 | | | 28,853 | | 27,974 | | |\n| 19 | Operating income | 27,900 | | | 28,318 | | | 68,273 | | 64,334 | | |\n| 20 | Other income\/(expense), net | 158 | | | 64 | | | 108 | | (329) | | |\n| 21 | Income before provision for income taxes | 28,058 | | | 28,382 | | | 68,381 | | 64,005 | | |\n| 22 | Provision for income taxes | 4,422 | | | 4,222 | | | 10,829 | | 9,847 | | |\n| 23 | Net income | $ | 23,636 | | | $ | 24,160 | | $ | 57,552 | $ | 54,158 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.53 | | | $ | 1.53 | | $ | 3.72 | $ | 3.42 |\n| 27 | Diluted | $ | 1.53 | | | $ | 1.52 | | $ | 3.71 | $ | 3.41 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,405,856 | | | 15,787,154 | | | 15,457,810 | | 15,839,939 | | |\n| 31 | Diluted | 15,464,709 | | | 15,847,050 | | | 15,520,675 | | 15,901,384 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | March 30,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 32,695 | | | $ | 29,965 |\n| 5 | Marketable securities | 34,455 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 21,837 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 19,313 | | | 31,477 | | |\n| 8 | Inventories | 6,232 | | | 6,331 | | |\n| 9 | Other current assets | 13,884 | | | 14,695 | | |\n| 10 | Total current assets | 128,416 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 95,187 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 43,546 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,262 | | | 64,758 | | |\n| 16 | Total non-current assets | 208,995 | | | 209,017 | | |\n| 17 | Total assets | $ | 337,411 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 45,753 | | | $ | 62,611 |\n| 22 | Other current liabilities | 57,298 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,012 | | | 8,061 | | |\n| 24 | Commercial paper | 1,997 | | | 5,985 | | |\n| 25 | Term debt | 10,762 | | | 9,822 | | |\n| 26 | Total current liabilities | 123,822 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 91,831 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,564 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 139,395 | | | 145,129 | | |\n| 32 | Total liabilities | 263,217 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively | 78,815 | | | 73,812 | | |\n| 38 | Retained earnings\/(Accumulated deficit) | 4,339 | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,960) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 74,194 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 337,411 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_markdown_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:-----------------|:-----------|:--------------|:-------|:-------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | | |\n| 2 | | March 30,2024 | | April 1,2023 | | March 30,2024 | | April 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 66,886 | | | $ | 73,929 | | $ | 163,344 | $ | 170,317 |\n| 5 | Services | 23,867 | | | 20,907 | | | 46,984 | | 41,673 | | |\n| 6 | Total net sales | 90,753 | | | 94,836 | | | 210,328 | | 211,990 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 42,424 | | | 46,795 | | | 100,864 | | 107,560 | | |\n| 10 | Services | 6,058 | | | 6,065 | | | 12,338 | | 12,122 | | |\n| 11 | Total cost of sales | 48,482 | | | 52,860 | | | 113,202 | | 119,682 | | |\n| 12 | Gross margin | 42,271 | | | 41,976 | | | 97,126 | | 92,308 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 7,903 | | | 7,457 | | | 15,599 | | 15,166 | | |\n| 16 | Selling, general and administrative | 6,468 | | | 6,201 | | | 13,254 | | 12,808 | | |\n| 17 | Total operating expenses | 14,371 | | | 13,658 | | | 28,853 | | 27,974 | | |\n| 19 | Operating income | 27,900 | | | 28,318 | | | 68,273 | | 64,334 | | |\n| 20 | Other income\/(expense), net | 158 | | | 64 | | | 108 | | (329) | | |\n| 21 | Income before provision for income taxes | 28,058 | | | 28,382 | | | 68,381 | | 64,005 | | |\n| 22 | Provision for income taxes | 4,422 | | | 4,222 | | | 10,829 | | 9,847 | | |\n| 23 | Net income | $ | 23,636 | | | $ | 24,160 | | $ | 57,552 | $ | 54,158 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.53 | | | $ | 1.53 | | $ | 3.72 | $ | 3.42 |\n| 27 | Diluted | $ | 1.53 | | | $ | 1.52 | | $ | 3.71 | $ | 3.41 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,405,856 | | | 15,787,154 | | | 15,457,810 | | 15,839,939 | | |\n| 31 | Diluted | 15,464,709 | | | 15,847,050 | | | 15,520,675 | | 15,901,384 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | March 30,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 32,695 | | | $ | 29,965 |\n| 5 | Marketable securities | 34,455 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 21,837 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 19,313 | | | 31,477 | | |\n| 8 | Inventories | 6,232 | | | 6,331 | | |\n| 9 | Other current assets | 13,884 | | | 14,695 | | |\n| 10 | Total current assets | 128,416 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 95,187 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 43,546 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,262 | | | 64,758 | | |\n| 16 | Total non-current assets | 208,995 | | | 209,017 | | |\n| 17 | Total assets | $ | 337,411 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 45,753 | | | $ | 62,611 |\n| 22 | Other current liabilities | 57,298 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,012 | | | 8,061 | | |\n| 24 | Commercial paper | 1,997 | | | 5,985 | | |\n| 25 | Term debt | 10,762 | | | 9,822 | | |\n| 26 | Total current liabilities | 123,822 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 91,831 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,564 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 139,395 | | | 145,129 | | |\n| 32 | Total liabilities | 263,217 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively | 78,815 | | | 73,812 | | |\n| 38 | Retained earnings\/(Accumulated deficit) | 4,339 | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,960) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 74,194 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 337,411 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>66,886 <\/td><\/td><\/td>$<\/td>73,929 <\/td><\/td><\/td>$<\/td>163,344 <\/td><\/td><\/td>$<\/td>170,317 <\/td><\/td><\/tr>
Services<\/td>23,867 <\/td><\/td><\/td>20,907 <\/td><\/td><\/td>46,984 <\/td><\/td><\/td>41,673 <\/td><\/td><\/tr>
Total net sales<\/td>90,753 <\/td><\/td><\/td>94,836 <\/td><\/td><\/td>210,328 <\/td><\/td><\/td>211,990 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>42,424 <\/td><\/td><\/td>46,795 <\/td><\/td><\/td>100,864 <\/td><\/td><\/td>107,560 <\/td><\/td><\/tr>
Services<\/td>6,058 <\/td><\/td><\/td>6,065 <\/td><\/td><\/td>12,338 <\/td><\/td><\/td>12,122 <\/td><\/td><\/tr>
Total cost of sales<\/td>48,482 <\/td><\/td><\/td>52,860 <\/td><\/td><\/td>113,202 <\/td><\/td><\/td>119,682 <\/td><\/td><\/tr>
Gross margin<\/td>42,271 <\/td><\/td><\/td>41,976 <\/td><\/td><\/td>97,126 <\/td><\/td><\/td>92,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>7,903 <\/td><\/td><\/td>7,457 <\/td><\/td><\/td>15,599 <\/td><\/td><\/td>15,166 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,468 <\/td><\/td><\/td>6,201 <\/td><\/td><\/td>13,254 <\/td><\/td><\/td>12,808 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,371 <\/td><\/td><\/td>13,658 <\/td><\/td><\/td>28,853 <\/td><\/td><\/td>27,974 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>27,900 <\/td><\/td><\/td>28,318 <\/td><\/td><\/td>68,273 <\/td><\/td><\/td>64,334 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>158 <\/td><\/td><\/td>64 <\/td><\/td><\/td>108 <\/td><\/td><\/td>(329)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>28,058 <\/td><\/td><\/td>28,382 <\/td><\/td><\/td>68,381 <\/td><\/td><\/td>64,005 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,422 <\/td><\/td><\/td>4,222 <\/td><\/td><\/td>10,829 <\/td><\/td><\/td>9,847 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>23,636 <\/td><\/td><\/td>$<\/td>24,160 <\/td><\/td><\/td>$<\/td>57,552 <\/td><\/td><\/td>$<\/td>54,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>3.72 <\/td><\/td><\/td>$<\/td>3.42 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.52 <\/td><\/td><\/td>$<\/td>3.71 <\/td><\/td><\/td>$<\/td>3.41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,405,856 <\/td><\/td><\/td>15,787,154 <\/td><\/td><\/td>15,457,810 <\/td><\/td><\/td>15,839,939 <\/td><\/td><\/tr>
Diluted<\/td>15,464,709 <\/td><\/td><\/td>15,847,050 <\/td><\/td><\/td>15,520,675 <\/td><\/td><\/td>15,901,384 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>32,695 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>34,455 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>21,837 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>19,313 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,232 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>13,884 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>128,416 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>95,187 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,546 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,262 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>208,995 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>45,753 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>57,298 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,012 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>1,997 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>10,762 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>123,822 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>91,831 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,564 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>139,395 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>263,217 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively<\/td>78,815 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit)<\/td>4,339 <\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,960)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>74,194 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>66,886 <\/td><\/td><\/td>$<\/td>73,929 <\/td><\/td><\/td>$<\/td>163,344 <\/td><\/td><\/td>$<\/td>170,317 <\/td><\/td><\/tr>
Services<\/td>23,867 <\/td><\/td><\/td>20,907 <\/td><\/td><\/td>46,984 <\/td><\/td><\/td>41,673 <\/td><\/td><\/tr>
Total net sales<\/td>90,753 <\/td><\/td><\/td>94,836 <\/td><\/td><\/td>210,328 <\/td><\/td><\/td>211,990 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>42,424 <\/td><\/td><\/td>46,795 <\/td><\/td><\/td>100,864 <\/td><\/td><\/td>107,560 <\/td><\/td><\/tr>
Services<\/td>6,058 <\/td><\/td><\/td>6,065 <\/td><\/td><\/td>12,338 <\/td><\/td><\/td>12,122 <\/td><\/td><\/tr>
Total cost of sales<\/td>48,482 <\/td><\/td><\/td>52,860 <\/td><\/td><\/td>113,202 <\/td><\/td><\/td>119,682 <\/td><\/td><\/tr>
Gross margin<\/td>42,271 <\/td><\/td><\/td>41,976 <\/td><\/td><\/td>97,126 <\/td><\/td><\/td>92,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>7,903 <\/td><\/td><\/td>7,457 <\/td><\/td><\/td>15,599 <\/td><\/td><\/td>15,166 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,468 <\/td><\/td><\/td>6,201 <\/td><\/td><\/td>13,254 <\/td><\/td><\/td>12,808 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,371 <\/td><\/td><\/td>13,658 <\/td><\/td><\/td>28,853 <\/td><\/td><\/td>27,974 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>27,900 <\/td><\/td><\/td>28,318 <\/td><\/td><\/td>68,273 <\/td><\/td><\/td>64,334 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>158 <\/td><\/td><\/td>64 <\/td><\/td><\/td>108 <\/td><\/td><\/td>(329)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>28,058 <\/td><\/td><\/td>28,382 <\/td><\/td><\/td>68,381 <\/td><\/td><\/td>64,005 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,422 <\/td><\/td><\/td>4,222 <\/td><\/td><\/td>10,829 <\/td><\/td><\/td>9,847 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>23,636 <\/td><\/td><\/td>$<\/td>24,160 <\/td><\/td><\/td>$<\/td>57,552 <\/td><\/td><\/td>$<\/td>54,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>3.72 <\/td><\/td><\/td>$<\/td>3.42 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.52 <\/td><\/td><\/td>$<\/td>3.71 <\/td><\/td><\/td>$<\/td>3.41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,405,856 <\/td><\/td><\/td>15,787,154 <\/td><\/td><\/td>15,457,810 <\/td><\/td><\/td>15,839,939 <\/td><\/td><\/tr>
Diluted<\/td>15,464,709 <\/td><\/td><\/td>15,847,050 <\/td><\/td><\/td>15,520,675 <\/td><\/td><\/td>15,901,384 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>32,695 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>34,455 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>21,837 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>19,313 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,232 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>13,884 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>128,416 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>95,187 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,546 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,262 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>208,995 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>45,753 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>57,298 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,012 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>1,997 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>10,762 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>123,822 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>91,831 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,564 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>139,395 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>263,217 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively<\/td>78,815 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit)<\/td>4,339 <\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,960)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>74,194 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n"} +{"QID":"q_Ra145","Question":"What is the Days Sales of Inventory (DSI) for Apple Inc. for the six months ended March 30, 2024?","ground_truth_answer":"DSI = (Average Inventory \/ Cost of Goods Sold) * Number of Days = ((6,232 + 6,331) \/ 2) \/ 113,202 * 180 = 10.03 days","question_type":"Ratio","page_number":"1, 3","accession_number":"0000320193-24-000069","item":"Item 1. Financial Statements","context_markdown_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:-----------------|:-----------|:--------------|:-------|:-------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | | |\n| 2 | | March 30,2024 | | April 1,2023 | | March 30,2024 | | April 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 66,886 | | | $ | 73,929 | | $ | 163,344 | $ | 170,317 |\n| 5 | Services | 23,867 | | | 20,907 | | | 46,984 | | 41,673 | | |\n| 6 | Total net sales | 90,753 | | | 94,836 | | | 210,328 | | 211,990 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 42,424 | | | 46,795 | | | 100,864 | | 107,560 | | |\n| 10 | Services | 6,058 | | | 6,065 | | | 12,338 | | 12,122 | | |\n| 11 | Total cost of sales | 48,482 | | | 52,860 | | | 113,202 | | 119,682 | | |\n| 12 | Gross margin | 42,271 | | | 41,976 | | | 97,126 | | 92,308 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 7,903 | | | 7,457 | | | 15,599 | | 15,166 | | |\n| 16 | Selling, general and administrative | 6,468 | | | 6,201 | | | 13,254 | | 12,808 | | |\n| 17 | Total operating expenses | 14,371 | | | 13,658 | | | 28,853 | | 27,974 | | |\n| 19 | Operating income | 27,900 | | | 28,318 | | | 68,273 | | 64,334 | | |\n| 20 | Other income\/(expense), net | 158 | | | 64 | | | 108 | | (329) | | |\n| 21 | Income before provision for income taxes | 28,058 | | | 28,382 | | | 68,381 | | 64,005 | | |\n| 22 | Provision for income taxes | 4,422 | | | 4,222 | | | 10,829 | | 9,847 | | |\n| 23 | Net income | $ | 23,636 | | | $ | 24,160 | | $ | 57,552 | $ | 54,158 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.53 | | | $ | 1.53 | | $ | 3.72 | $ | 3.42 |\n| 27 | Diluted | $ | 1.53 | | | $ | 1.52 | | $ | 3.71 | $ | 3.41 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,405,856 | | | 15,787,154 | | | 15,457,810 | | 15,839,939 | | |\n| 31 | Diluted | 15,464,709 | | | 15,847,050 | | | 15,520,675 | | 15,901,384 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | March 30,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 32,695 | | | $ | 29,965 |\n| 5 | Marketable securities | 34,455 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 21,837 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 19,313 | | | 31,477 | | |\n| 8 | Inventories | 6,232 | | | 6,331 | | |\n| 9 | Other current assets | 13,884 | | | 14,695 | | |\n| 10 | Total current assets | 128,416 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 95,187 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 43,546 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,262 | | | 64,758 | | |\n| 16 | Total non-current assets | 208,995 | | | 209,017 | | |\n| 17 | Total assets | $ | 337,411 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 45,753 | | | $ | 62,611 |\n| 22 | Other current liabilities | 57,298 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,012 | | | 8,061 | | |\n| 24 | Commercial paper | 1,997 | | | 5,985 | | |\n| 25 | Term debt | 10,762 | | | 9,822 | | |\n| 26 | Total current liabilities | 123,822 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 91,831 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,564 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 139,395 | | | 145,129 | | |\n| 32 | Total liabilities | 263,217 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively | 78,815 | | | 73,812 | | |\n| 38 | Retained earnings\/(Accumulated deficit) | 4,339 | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,960) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 74,194 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 337,411 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_markdown_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:-----------------|:-----------|:--------------|:-------|:-------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | | |\n| 2 | | March 30,2024 | | April 1,2023 | | March 30,2024 | | April 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 66,886 | | | $ | 73,929 | | $ | 163,344 | $ | 170,317 |\n| 5 | Services | 23,867 | | | 20,907 | | | 46,984 | | 41,673 | | |\n| 6 | Total net sales | 90,753 | | | 94,836 | | | 210,328 | | 211,990 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 42,424 | | | 46,795 | | | 100,864 | | 107,560 | | |\n| 10 | Services | 6,058 | | | 6,065 | | | 12,338 | | 12,122 | | |\n| 11 | Total cost of sales | 48,482 | | | 52,860 | | | 113,202 | | 119,682 | | |\n| 12 | Gross margin | 42,271 | | | 41,976 | | | 97,126 | | 92,308 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 7,903 | | | 7,457 | | | 15,599 | | 15,166 | | |\n| 16 | Selling, general and administrative | 6,468 | | | 6,201 | | | 13,254 | | 12,808 | | |\n| 17 | Total operating expenses | 14,371 | | | 13,658 | | | 28,853 | | 27,974 | | |\n| 19 | Operating income | 27,900 | | | 28,318 | | | 68,273 | | 64,334 | | |\n| 20 | Other income\/(expense), net | 158 | | | 64 | | | 108 | | (329) | | |\n| 21 | Income before provision for income taxes | 28,058 | | | 28,382 | | | 68,381 | | 64,005 | | |\n| 22 | Provision for income taxes | 4,422 | | | 4,222 | | | 10,829 | | 9,847 | | |\n| 23 | Net income | $ | 23,636 | | | $ | 24,160 | | $ | 57,552 | $ | 54,158 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.53 | | | $ | 1.53 | | $ | 3.72 | $ | 3.42 |\n| 27 | Diluted | $ | 1.53 | | | $ | 1.52 | | $ | 3.71 | $ | 3.41 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,405,856 | | | 15,787,154 | | | 15,457,810 | | 15,839,939 | | |\n| 31 | Diluted | 15,464,709 | | | 15,847,050 | | | 15,520,675 | | 15,901,384 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | March 30,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 32,695 | | | $ | 29,965 |\n| 5 | Marketable securities | 34,455 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 21,837 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 19,313 | | | 31,477 | | |\n| 8 | Inventories | 6,232 | | | 6,331 | | |\n| 9 | Other current assets | 13,884 | | | 14,695 | | |\n| 10 | Total current assets | 128,416 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 95,187 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 43,546 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,262 | | | 64,758 | | |\n| 16 | Total non-current assets | 208,995 | | | 209,017 | | |\n| 17 | Total assets | $ | 337,411 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 45,753 | | | $ | 62,611 |\n| 22 | Other current liabilities | 57,298 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,012 | | | 8,061 | | |\n| 24 | Commercial paper | 1,997 | | | 5,985 | | |\n| 25 | Term debt | 10,762 | | | 9,822 | | |\n| 26 | Total current liabilities | 123,822 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 91,831 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,564 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 139,395 | | | 145,129 | | |\n| 32 | Total liabilities | 263,217 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively | 78,815 | | | 73,812 | | |\n| 38 | Retained earnings\/(Accumulated deficit) | 4,339 | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,960) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 74,194 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 337,411 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>66,886 <\/td><\/td><\/td>$<\/td>73,929 <\/td><\/td><\/td>$<\/td>163,344 <\/td><\/td><\/td>$<\/td>170,317 <\/td><\/td><\/tr>
Services<\/td>23,867 <\/td><\/td><\/td>20,907 <\/td><\/td><\/td>46,984 <\/td><\/td><\/td>41,673 <\/td><\/td><\/tr>
Total net sales<\/td>90,753 <\/td><\/td><\/td>94,836 <\/td><\/td><\/td>210,328 <\/td><\/td><\/td>211,990 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>42,424 <\/td><\/td><\/td>46,795 <\/td><\/td><\/td>100,864 <\/td><\/td><\/td>107,560 <\/td><\/td><\/tr>
Services<\/td>6,058 <\/td><\/td><\/td>6,065 <\/td><\/td><\/td>12,338 <\/td><\/td><\/td>12,122 <\/td><\/td><\/tr>
Total cost of sales<\/td>48,482 <\/td><\/td><\/td>52,860 <\/td><\/td><\/td>113,202 <\/td><\/td><\/td>119,682 <\/td><\/td><\/tr>
Gross margin<\/td>42,271 <\/td><\/td><\/td>41,976 <\/td><\/td><\/td>97,126 <\/td><\/td><\/td>92,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>7,903 <\/td><\/td><\/td>7,457 <\/td><\/td><\/td>15,599 <\/td><\/td><\/td>15,166 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,468 <\/td><\/td><\/td>6,201 <\/td><\/td><\/td>13,254 <\/td><\/td><\/td>12,808 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,371 <\/td><\/td><\/td>13,658 <\/td><\/td><\/td>28,853 <\/td><\/td><\/td>27,974 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>27,900 <\/td><\/td><\/td>28,318 <\/td><\/td><\/td>68,273 <\/td><\/td><\/td>64,334 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>158 <\/td><\/td><\/td>64 <\/td><\/td><\/td>108 <\/td><\/td><\/td>(329)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>28,058 <\/td><\/td><\/td>28,382 <\/td><\/td><\/td>68,381 <\/td><\/td><\/td>64,005 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,422 <\/td><\/td><\/td>4,222 <\/td><\/td><\/td>10,829 <\/td><\/td><\/td>9,847 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>23,636 <\/td><\/td><\/td>$<\/td>24,160 <\/td><\/td><\/td>$<\/td>57,552 <\/td><\/td><\/td>$<\/td>54,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>3.72 <\/td><\/td><\/td>$<\/td>3.42 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.52 <\/td><\/td><\/td>$<\/td>3.71 <\/td><\/td><\/td>$<\/td>3.41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,405,856 <\/td><\/td><\/td>15,787,154 <\/td><\/td><\/td>15,457,810 <\/td><\/td><\/td>15,839,939 <\/td><\/td><\/tr>
Diluted<\/td>15,464,709 <\/td><\/td><\/td>15,847,050 <\/td><\/td><\/td>15,520,675 <\/td><\/td><\/td>15,901,384 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>32,695 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>34,455 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>21,837 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>19,313 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,232 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>13,884 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>128,416 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>95,187 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,546 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,262 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>208,995 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>45,753 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>57,298 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,012 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>1,997 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>10,762 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>123,822 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>91,831 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,564 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>139,395 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>263,217 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively<\/td>78,815 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit)<\/td>4,339 <\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,960)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>74,194 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>66,886 <\/td><\/td><\/td>$<\/td>73,929 <\/td><\/td><\/td>$<\/td>163,344 <\/td><\/td><\/td>$<\/td>170,317 <\/td><\/td><\/tr>
Services<\/td>23,867 <\/td><\/td><\/td>20,907 <\/td><\/td><\/td>46,984 <\/td><\/td><\/td>41,673 <\/td><\/td><\/tr>
Total net sales<\/td>90,753 <\/td><\/td><\/td>94,836 <\/td><\/td><\/td>210,328 <\/td><\/td><\/td>211,990 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>42,424 <\/td><\/td><\/td>46,795 <\/td><\/td><\/td>100,864 <\/td><\/td><\/td>107,560 <\/td><\/td><\/tr>
Services<\/td>6,058 <\/td><\/td><\/td>6,065 <\/td><\/td><\/td>12,338 <\/td><\/td><\/td>12,122 <\/td><\/td><\/tr>
Total cost of sales<\/td>48,482 <\/td><\/td><\/td>52,860 <\/td><\/td><\/td>113,202 <\/td><\/td><\/td>119,682 <\/td><\/td><\/tr>
Gross margin<\/td>42,271 <\/td><\/td><\/td>41,976 <\/td><\/td><\/td>97,126 <\/td><\/td><\/td>92,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>7,903 <\/td><\/td><\/td>7,457 <\/td><\/td><\/td>15,599 <\/td><\/td><\/td>15,166 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,468 <\/td><\/td><\/td>6,201 <\/td><\/td><\/td>13,254 <\/td><\/td><\/td>12,808 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,371 <\/td><\/td><\/td>13,658 <\/td><\/td><\/td>28,853 <\/td><\/td><\/td>27,974 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>27,900 <\/td><\/td><\/td>28,318 <\/td><\/td><\/td>68,273 <\/td><\/td><\/td>64,334 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>158 <\/td><\/td><\/td>64 <\/td><\/td><\/td>108 <\/td><\/td><\/td>(329)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>28,058 <\/td><\/td><\/td>28,382 <\/td><\/td><\/td>68,381 <\/td><\/td><\/td>64,005 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,422 <\/td><\/td><\/td>4,222 <\/td><\/td><\/td>10,829 <\/td><\/td><\/td>9,847 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>23,636 <\/td><\/td><\/td>$<\/td>24,160 <\/td><\/td><\/td>$<\/td>57,552 <\/td><\/td><\/td>$<\/td>54,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>3.72 <\/td><\/td><\/td>$<\/td>3.42 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.52 <\/td><\/td><\/td>$<\/td>3.71 <\/td><\/td><\/td>$<\/td>3.41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,405,856 <\/td><\/td><\/td>15,787,154 <\/td><\/td><\/td>15,457,810 <\/td><\/td><\/td>15,839,939 <\/td><\/td><\/tr>
Diluted<\/td>15,464,709 <\/td><\/td><\/td>15,847,050 <\/td><\/td><\/td>15,520,675 <\/td><\/td><\/td>15,901,384 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>32,695 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>34,455 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>21,837 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>19,313 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,232 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>13,884 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>128,416 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>95,187 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,546 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,262 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>208,995 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>45,753 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>57,298 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,012 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>1,997 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>10,762 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>123,822 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>91,831 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,564 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>139,395 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>263,217 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively<\/td>78,815 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit)<\/td>4,339 <\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,960)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>74,194 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n"} +{"QID":"q_Ra146","Question":"What is the Days Sales Outstanding (DSO) for Apple Inc. for the six months ended March 30, 2024?","ground_truth_answer":"DSO = (Accounts Receivable \/ Total Credit Sales) * Number of Days = 21,837 \/ 210,328 * 180 = 18.69 days","question_type":"Ratio","page_number":"1, 3","accession_number":"0000320193-24-000069","item":"Item 1. Financial Statements","context_markdown_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:-----------------|:-----------|:--------------|:-------|:-------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | | |\n| 2 | | March 30,2024 | | April 1,2023 | | March 30,2024 | | April 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 66,886 | | | $ | 73,929 | | $ | 163,344 | $ | 170,317 |\n| 5 | Services | 23,867 | | | 20,907 | | | 46,984 | | 41,673 | | |\n| 6 | Total net sales | 90,753 | | | 94,836 | | | 210,328 | | 211,990 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 42,424 | | | 46,795 | | | 100,864 | | 107,560 | | |\n| 10 | Services | 6,058 | | | 6,065 | | | 12,338 | | 12,122 | | |\n| 11 | Total cost of sales | 48,482 | | | 52,860 | | | 113,202 | | 119,682 | | |\n| 12 | Gross margin | 42,271 | | | 41,976 | | | 97,126 | | 92,308 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 7,903 | | | 7,457 | | | 15,599 | | 15,166 | | |\n| 16 | Selling, general and administrative | 6,468 | | | 6,201 | | | 13,254 | | 12,808 | | |\n| 17 | Total operating expenses | 14,371 | | | 13,658 | | | 28,853 | | 27,974 | | |\n| 19 | Operating income | 27,900 | | | 28,318 | | | 68,273 | | 64,334 | | |\n| 20 | Other income\/(expense), net | 158 | | | 64 | | | 108 | | (329) | | |\n| 21 | Income before provision for income taxes | 28,058 | | | 28,382 | | | 68,381 | | 64,005 | | |\n| 22 | Provision for income taxes | 4,422 | | | 4,222 | | | 10,829 | | 9,847 | | |\n| 23 | Net income | $ | 23,636 | | | $ | 24,160 | | $ | 57,552 | $ | 54,158 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.53 | | | $ | 1.53 | | $ | 3.72 | $ | 3.42 |\n| 27 | Diluted | $ | 1.53 | | | $ | 1.52 | | $ | 3.71 | $ | 3.41 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,405,856 | | | 15,787,154 | | | 15,457,810 | | 15,839,939 | | |\n| 31 | Diluted | 15,464,709 | | | 15,847,050 | | | 15,520,675 | | 15,901,384 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | March 30,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 32,695 | | | $ | 29,965 |\n| 5 | Marketable securities | 34,455 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 21,837 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 19,313 | | | 31,477 | | |\n| 8 | Inventories | 6,232 | | | 6,331 | | |\n| 9 | Other current assets | 13,884 | | | 14,695 | | |\n| 10 | Total current assets | 128,416 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 95,187 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 43,546 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,262 | | | 64,758 | | |\n| 16 | Total non-current assets | 208,995 | | | 209,017 | | |\n| 17 | Total assets | $ | 337,411 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 45,753 | | | $ | 62,611 |\n| 22 | Other current liabilities | 57,298 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,012 | | | 8,061 | | |\n| 24 | Commercial paper | 1,997 | | | 5,985 | | |\n| 25 | Term debt | 10,762 | | | 9,822 | | |\n| 26 | Total current liabilities | 123,822 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 91,831 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,564 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 139,395 | | | 145,129 | | |\n| 32 | Total liabilities | 263,217 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively | 78,815 | | | 73,812 | | |\n| 38 | Retained earnings\/(Accumulated deficit) | 4,339 | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,960) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 74,194 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 337,411 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_markdown_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n\n| | | | | | | | | | | | | |\n|---:|:---------------------------------------------|:-------------------|:-------|:-----------------|:-----------|:--------------|:-------|:-------------|:---|:-----------|:---|:--------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | | |\n| 2 | | March 30,2024 | | April 1,2023 | | March 30,2024 | | April 1,2023 | | | | |\n| 3 | Net sales: | | | | | | | | | | | |\n| 4 | Products | $ | 66,886 | | | $ | 73,929 | | $ | 163,344 | $ | 170,317 |\n| 5 | Services | 23,867 | | | 20,907 | | | 46,984 | | 41,673 | | |\n| 6 | Total net sales | 90,753 | | | 94,836 | | | 210,328 | | 211,990 | | |\n| 8 | Cost of sales: | | | | | | | | | | | |\n| 9 | Products | 42,424 | | | 46,795 | | | 100,864 | | 107,560 | | |\n| 10 | Services | 6,058 | | | 6,065 | | | 12,338 | | 12,122 | | |\n| 11 | Total cost of sales | 48,482 | | | 52,860 | | | 113,202 | | 119,682 | | |\n| 12 | Gross margin | 42,271 | | | 41,976 | | | 97,126 | | 92,308 | | |\n| 14 | Operating expenses: | | | | | | | | | | | |\n| 15 | Research and development | 7,903 | | | 7,457 | | | 15,599 | | 15,166 | | |\n| 16 | Selling, general and administrative | 6,468 | | | 6,201 | | | 13,254 | | 12,808 | | |\n| 17 | Total operating expenses | 14,371 | | | 13,658 | | | 28,853 | | 27,974 | | |\n| 19 | Operating income | 27,900 | | | 28,318 | | | 68,273 | | 64,334 | | |\n| 20 | Other income\/(expense), net | 158 | | | 64 | | | 108 | | (329) | | |\n| 21 | Income before provision for income taxes | 28,058 | | | 28,382 | | | 68,381 | | 64,005 | | |\n| 22 | Provision for income taxes | 4,422 | | | 4,222 | | | 10,829 | | 9,847 | | |\n| 23 | Net income | $ | 23,636 | | | $ | 24,160 | | $ | 57,552 | $ | 54,158 |\n| 25 | Earnings per share: | | | | | | | | | | | |\n| 26 | Basic | $ | 1.53 | | | $ | 1.53 | | $ | 3.72 | $ | 3.42 |\n| 27 | Diluted | $ | 1.53 | | | $ | 1.52 | | $ | 3.71 | $ | 3.41 |\n| 29 | Shares used in computing earnings per share: | | | | | | | | | | | |\n| 30 | Basic | 15,405,856 | | | 15,787,154 | | | 15,457,810 | | 15,839,939 | | |\n| 31 | Diluted | 15,464,709 | | | 15,847,050 | | | 15,520,675 | | 15,901,384 | | |\n\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n| | | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--------------|:--------|:------------------|:---------|:---|:--------|\n| 1 | | March 30,2024 | | September 30,2023 | | | |\n| 2 | ASSETS: | | | | | | |\n| 3 | Current assets: | | | | | | |\n| 4 | Cash and cash equivalents | $ | 32,695 | | | $ | 29,965 |\n| 5 | Marketable securities | 34,455 | | | 31,590 | | |\n| 6 | Accounts receivable, net | 21,837 | | | 29,508 | | |\n| 7 | Vendor non-trade receivables | 19,313 | | | 31,477 | | |\n| 8 | Inventories | 6,232 | | | 6,331 | | |\n| 9 | Other current assets | 13,884 | | | 14,695 | | |\n| 10 | Total current assets | 128,416 | | | 143,566 | | |\n| 12 | Non-current assets: | | | | | | |\n| 13 | Marketable securities | 95,187 | | | 100,544 | | |\n| 14 | Property, plant and equipment, net | 43,546 | | | 43,715 | | |\n| 15 | Other non-current assets | 70,262 | | | 64,758 | | |\n| 16 | Total non-current assets | 208,995 | | | 209,017 | | |\n| 17 | Total assets | $ | 337,411 | | | $ | 352,583 |\n| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY: | | | | | | |\n| 20 | Current liabilities: | | | | | | |\n| 21 | Accounts payable | $ | 45,753 | | | $ | 62,611 |\n| 22 | Other current liabilities | 57,298 | | | 58,829 | | |\n| 23 | Deferred revenue | 8,012 | | | 8,061 | | |\n| 24 | Commercial paper | 1,997 | | | 5,985 | | |\n| 25 | Term debt | 10,762 | | | 9,822 | | |\n| 26 | Total current liabilities | 123,822 | | | 145,308 | | |\n| 28 | Non-current liabilities: | | | | | | |\n| 29 | Term debt | 91,831 | | | 95,281 | | |\n| 30 | Other non-current liabilities | 47,564 | | | 49,848 | | |\n| 31 | Total non-current liabilities | 139,395 | | | 145,129 | | |\n| 32 | Total liabilities | 263,217 | | | 290,437 | | |\n| 34 | Commitments and contingencies | | | | | | |\n| 36 | Shareholders' equity: | | | | | | |\n| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively | 78,815 | | | 73,812 | | |\n| 38 | Retained earnings\/(Accumulated deficit) | 4,339 | | | (214) | | |\n| 39 | Accumulated other comprehensive loss | (8,960) | | | (11,452) | | |\n| 40 | Total shareholders' equity | 74,194 | | | 62,146 | | |\n| 41 | Total liabilities and shareholders' equity | $ | 337,411 | | | $ | 352,583 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_with_headers":"Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 1: \nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>66,886 <\/td><\/td><\/td>$<\/td>73,929 <\/td><\/td><\/td>$<\/td>163,344 <\/td><\/td><\/td>$<\/td>170,317 <\/td><\/td><\/tr>
Services<\/td>23,867 <\/td><\/td><\/td>20,907 <\/td><\/td><\/td>46,984 <\/td><\/td><\/td>41,673 <\/td><\/td><\/tr>
Total net sales<\/td>90,753 <\/td><\/td><\/td>94,836 <\/td><\/td><\/td>210,328 <\/td><\/td><\/td>211,990 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>42,424 <\/td><\/td><\/td>46,795 <\/td><\/td><\/td>100,864 <\/td><\/td><\/td>107,560 <\/td><\/td><\/tr>
Services<\/td>6,058 <\/td><\/td><\/td>6,065 <\/td><\/td><\/td>12,338 <\/td><\/td><\/td>12,122 <\/td><\/td><\/tr>
Total cost of sales<\/td>48,482 <\/td><\/td><\/td>52,860 <\/td><\/td><\/td>113,202 <\/td><\/td><\/td>119,682 <\/td><\/td><\/tr>
Gross margin<\/td>42,271 <\/td><\/td><\/td>41,976 <\/td><\/td><\/td>97,126 <\/td><\/td><\/td>92,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>7,903 <\/td><\/td><\/td>7,457 <\/td><\/td><\/td>15,599 <\/td><\/td><\/td>15,166 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,468 <\/td><\/td><\/td>6,201 <\/td><\/td><\/td>13,254 <\/td><\/td><\/td>12,808 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,371 <\/td><\/td><\/td>13,658 <\/td><\/td><\/td>28,853 <\/td><\/td><\/td>27,974 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>27,900 <\/td><\/td><\/td>28,318 <\/td><\/td><\/td>68,273 <\/td><\/td><\/td>64,334 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>158 <\/td><\/td><\/td>64 <\/td><\/td><\/td>108 <\/td><\/td><\/td>(329)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>28,058 <\/td><\/td><\/td>28,382 <\/td><\/td><\/td>68,381 <\/td><\/td><\/td>64,005 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,422 <\/td><\/td><\/td>4,222 <\/td><\/td><\/td>10,829 <\/td><\/td><\/td>9,847 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>23,636 <\/td><\/td><\/td>$<\/td>24,160 <\/td><\/td><\/td>$<\/td>57,552 <\/td><\/td><\/td>$<\/td>54,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>3.72 <\/td><\/td><\/td>$<\/td>3.42 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.52 <\/td><\/td><\/td>$<\/td>3.71 <\/td><\/td><\/td>$<\/td>3.41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,405,856 <\/td><\/td><\/td>15,787,154 <\/td><\/td><\/td>15,457,810 <\/td><\/td><\/td>15,839,939 <\/td><\/td><\/tr>
Diluted<\/td>15,464,709 <\/td><\/td><\/td>15,847,050 <\/td><\/td><\/td>15,520,675 <\/td><\/td><\/td>15,901,384 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3: \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>32,695 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>34,455 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>21,837 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>19,313 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,232 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>13,884 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>128,416 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>95,187 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,546 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,262 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>208,995 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>45,753 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>57,298 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,012 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>1,997 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>10,762 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>123,822 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>91,831 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,564 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>139,395 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>263,217 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively<\/td>78,815 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit)<\/td>4,339 <\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,960)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>74,194 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n","context_html_without_headers":"\nPART I - FINANCIAL INFORMATION\n\n\nItem 1. Financial Statements\n\n\nApple Inc.\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and per-share amounts)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/td>March 30,2024<\/td><\/td>April 1,2023<\/td><\/tr>
Net sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>$<\/td>66,886 <\/td><\/td><\/td>$<\/td>73,929 <\/td><\/td><\/td>$<\/td>163,344 <\/td><\/td><\/td>$<\/td>170,317 <\/td><\/td><\/tr>
Services<\/td>23,867 <\/td><\/td><\/td>20,907 <\/td><\/td><\/td>46,984 <\/td><\/td><\/td>41,673 <\/td><\/td><\/tr>
Total net sales<\/td>90,753 <\/td><\/td><\/td>94,836 <\/td><\/td><\/td>210,328 <\/td><\/td><\/td>211,990 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Cost of sales:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Products<\/td>42,424 <\/td><\/td><\/td>46,795 <\/td><\/td><\/td>100,864 <\/td><\/td><\/td>107,560 <\/td><\/td><\/tr>
Services<\/td>6,058 <\/td><\/td><\/td>6,065 <\/td><\/td><\/td>12,338 <\/td><\/td><\/td>12,122 <\/td><\/td><\/tr>
Total cost of sales<\/td>48,482 <\/td><\/td><\/td>52,860 <\/td><\/td><\/td>113,202 <\/td><\/td><\/td>119,682 <\/td><\/td><\/tr>
Gross margin<\/td>42,271 <\/td><\/td><\/td>41,976 <\/td><\/td><\/td>97,126 <\/td><\/td><\/td>92,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating expenses:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>7,903 <\/td><\/td><\/td>7,457 <\/td><\/td><\/td>15,599 <\/td><\/td><\/td>15,166 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>6,468 <\/td><\/td><\/td>6,201 <\/td><\/td><\/td>13,254 <\/td><\/td><\/td>12,808 <\/td><\/td><\/tr>
Total operating expenses<\/td>14,371 <\/td><\/td><\/td>13,658 <\/td><\/td><\/td>28,853 <\/td><\/td><\/td>27,974 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Operating income<\/td>27,900 <\/td><\/td><\/td>28,318 <\/td><\/td><\/td>68,273 <\/td><\/td><\/td>64,334 <\/td><\/td><\/tr>
Other income\/(expense), net<\/td>158 <\/td><\/td><\/td>64 <\/td><\/td><\/td>108 <\/td><\/td><\/td>(329)<\/td><\/td><\/tr>
Income before provision for income taxes<\/td>28,058 <\/td><\/td><\/td>28,382 <\/td><\/td><\/td>68,381 <\/td><\/td><\/td>64,005 <\/td><\/td><\/tr>
Provision for income taxes<\/td>4,422 <\/td><\/td><\/td>4,222 <\/td><\/td><\/td>10,829 <\/td><\/td><\/td>9,847 <\/td><\/td><\/tr>
Net income<\/td>$<\/td>23,636 <\/td><\/td><\/td>$<\/td>24,160 <\/td><\/td><\/td>$<\/td>57,552 <\/td><\/td><\/td>$<\/td>54,158 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>3.72 <\/td><\/td><\/td>$<\/td>3.42 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>1.53 <\/td><\/td><\/td>$<\/td>1.52 <\/td><\/td><\/td>$<\/td>3.71 <\/td><\/td><\/td>$<\/td>3.41 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Shares used in computing earnings per share:<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>15,405,856 <\/td><\/td><\/td>15,787,154 <\/td><\/td><\/td>15,457,810 <\/td><\/td><\/td>15,839,939 <\/td><\/td><\/tr>
Diluted<\/td>15,464,709 <\/td><\/td><\/td>15,847,050 <\/td><\/td><\/td>15,520,675 <\/td><\/td><\/td>15,901,384 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 1\n\n\n\n\n\n, \nApple Inc.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares, which are reflected in thousands, and par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>March 30,2024<\/td><\/td>September 30,2023<\/td><\/tr>
ASSETS:<\/td><\/tr>
Current assets:<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>32,695 <\/td><\/td><\/td>$<\/td>29,965 <\/td><\/td><\/tr>
Marketable securities<\/td>34,455 <\/td><\/td><\/td>31,590 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>21,837 <\/td><\/td><\/td>29,508 <\/td><\/td><\/tr>
Vendor non-trade receivables<\/td>19,313 <\/td><\/td><\/td>31,477 <\/td><\/td><\/tr>
Inventories<\/td>6,232 <\/td><\/td><\/td>6,331 <\/td><\/td><\/tr>
Other current assets<\/td>13,884 <\/td><\/td><\/td>14,695 <\/td><\/td><\/tr>
Total current assets<\/td>128,416 <\/td><\/td><\/td>143,566 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current assets:<\/td><\/td><\/td><\/td><\/tr>
Marketable securities<\/td>95,187 <\/td><\/td><\/td>100,544 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>43,546 <\/td><\/td><\/td>43,715 <\/td><\/td><\/tr>
Other non-current assets<\/td>70,262 <\/td><\/td><\/td>64,758 <\/td><\/td><\/tr>
Total non-current assets<\/td>208,995 <\/td><\/td><\/td>209,017 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY:<\/td><\/tr>
Current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>45,753 <\/td><\/td><\/td>$<\/td>62,611 <\/td><\/td><\/tr>
Other current liabilities<\/td>57,298 <\/td><\/td><\/td>58,829 <\/td><\/td><\/tr>
Deferred revenue<\/td>8,012 <\/td><\/td><\/td>8,061 <\/td><\/td><\/tr>
Commercial paper<\/td>1,997 <\/td><\/td><\/td>5,985 <\/td><\/td><\/tr>
Term debt<\/td>10,762 <\/td><\/td><\/td>9,822 <\/td><\/td><\/tr>
Total current liabilities<\/td>123,822 <\/td><\/td><\/td>145,308 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Non-current liabilities:<\/td><\/td><\/td><\/td><\/tr>
Term debt<\/td>91,831 <\/td><\/td><\/td>95,281 <\/td><\/td><\/tr>
Other non-current liabilities<\/td>47,564 <\/td><\/td><\/td>49,848 <\/td><\/td><\/tr>
Total non-current liabilities<\/td>139,395 <\/td><\/td><\/td>145,129 <\/td><\/td><\/tr>
Total liabilities<\/td>263,217 <\/td><\/td><\/td>290,437 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Commitments and contingencies<\/td><\/td><\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/tr>
Shareholders' equity:<\/td><\/td><\/td><\/td><\/tr>
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively<\/td>78,815 <\/td><\/td><\/td>73,812 <\/td><\/td><\/tr>
Retained earnings\/(Accumulated deficit)<\/td>4,339 <\/td><\/td><\/td>(214)<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(8,960)<\/td><\/td><\/td>(11,452)<\/td><\/td><\/tr>
Total shareholders' equity<\/td>74,194 <\/td><\/td><\/td>62,146 <\/td><\/td><\/tr>
Total liabilities and shareholders' equity<\/td>$<\/td>337,411 <\/td><\/td><\/td>$<\/td>352,583 <\/td><\/td><\/tr><\/table>\nSee accompanying Notes to Condensed Consolidated Financial Statements.\n\n\nApple Inc. | Q2 2024 Form 10-Q | 3\n\n\n\n\n\n"} +{"QID":"q_Ra147","Question":"What is the Return on Assets (ROA) for Coca-Cola for the six months ended June 28, 2024?","ground_truth_answer":"ROA = (Net Income \/ Total Assets) * 100 = ($5,588 million \/ $101,202 million) * 100 = 5.52%","question_type":"Ratio","page_number":"2, 4","accession_number":"0000021344-24-000044","item":"Item 1. Financial Statements","context_markdown_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2: \nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------|:-------------------|:-------------|:-----------------|:-------------|:-------------|:-------|:-------|:-------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | June 28,2024 | June 30,2023 | | | | | |\n| 3 | Net Operating Revenues | $ | 12,363 | | $ | 11,972 | | $ | 23,663 | $ | 22,952 |\n| 4 | Cost of goods sold | 4,812 | | 4,912 | | | 9,047 | 9,229 | | | |\n| 5 | Gross Profit | 7,551 | | 7,060 | | | 14,616 | 13,723 | | | |\n| 6 | Selling, general and administrative expenses | 3,549 | | 3,321 | | | 6,900 | 6,506 | | | |\n| 7 | Other operating charges | 1,370 | | 1,338 | | | 2,943 | 1,449 | | | |\n| 8 | Operating Income | 2,632 | | 2,401 | | | 4,773 | 5,768 | | | |\n| 9 | Interest income | 275 | | 224 | | | 521 | 392 | | | |\n| 10 | Interest expense | 418 | | 374 | | | 800 | 746 | | | |\n| 11 | Equity income (loss) - net | 537 | | 538 | | | 891 | 813 | | | |\n| 12 | Other income (loss) - net | 2 | | 91 | | | 1,515 | 706 | | | |\n| 13 | Income Before Income Taxes | 3,028 | | 2,880 | | | 6,900 | 6,933 | | | |\n| 14 | Income taxes | 627 | | 359 | | | 1,314 | 1,299 | | | |\n| 15 | Consolidated Net Income | 2,401 | | 2,521 | | | 5,586 | 5,634 | | | |\n| 16 | Less: Net income (loss) attributable to noncontrolling interests | (10) | | (26) | | | (2) | (20) | | | |\n| 17 | Net Income Attributable to Shareowners of The Coca-Cola Company | $ | 2,411 | | $ | 2,547 | | $ | 5,588 | $ | 5,654 |\n| 18 | Basic Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.30 | $ | 1.31 |\n| 19 | Diluted Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.29 | $ | 1.30 |\n| 20 | Average Shares Outstanding - Basic | 4,309 | | 4,325 | | | 4,309 | 4,325 | | | |\n| 21 | Effect of dilutive securities | 10 | | 16 | | | 12 | 18 | | | |\n| 22 | Average Shares Outstanding - Diluted | 4,319 | | 4,341 | | | 4,321 | 4,343 | | | |\n\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_markdown_without_headers":"\nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------|:-------------------|:-------------|:-----------------|:-------------|:-------------|:-------|:-------|:-------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | June 28,2024 | June 30,2023 | | | | | |\n| 3 | Net Operating Revenues | $ | 12,363 | | $ | 11,972 | | $ | 23,663 | $ | 22,952 |\n| 4 | Cost of goods sold | 4,812 | | 4,912 | | | 9,047 | 9,229 | | | |\n| 5 | Gross Profit | 7,551 | | 7,060 | | | 14,616 | 13,723 | | | |\n| 6 | Selling, general and administrative expenses | 3,549 | | 3,321 | | | 6,900 | 6,506 | | | |\n| 7 | Other operating charges | 1,370 | | 1,338 | | | 2,943 | 1,449 | | | |\n| 8 | Operating Income | 2,632 | | 2,401 | | | 4,773 | 5,768 | | | |\n| 9 | Interest income | 275 | | 224 | | | 521 | 392 | | | |\n| 10 | Interest expense | 418 | | 374 | | | 800 | 746 | | | |\n| 11 | Equity income (loss) - net | 537 | | 538 | | | 891 | 813 | | | |\n| 12 | Other income (loss) - net | 2 | | 91 | | | 1,515 | 706 | | | |\n| 13 | Income Before Income Taxes | 3,028 | | 2,880 | | | 6,900 | 6,933 | | | |\n| 14 | Income taxes | 627 | | 359 | | | 1,314 | 1,299 | | | |\n| 15 | Consolidated Net Income | 2,401 | | 2,521 | | | 5,586 | 5,634 | | | |\n| 16 | Less: Net income (loss) attributable to noncontrolling interests | (10) | | (26) | | | (2) | (20) | | | |\n| 17 | Net Income Attributable to Shareowners of The Coca-Cola Company | $ | 2,411 | | $ | 2,547 | | $ | 5,588 | $ | 5,654 |\n| 18 | Basic Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.30 | $ | 1.31 |\n| 19 | Diluted Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.29 | $ | 1.30 |\n| 20 | Average Shares Outstanding - Basic | 4,309 | | 4,325 | | | 4,309 | 4,325 | | | |\n| 21 | Effect of dilutive securities | 10 | | 16 | | | 12 | 18 | | | |\n| 22 | Average Shares Outstanding - Diluted | 4,319 | | 4,341 | | | 4,321 | 4,343 | | | |\n\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2: \nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Net Operating Revenues<\/td>$<\/td>12,363 <\/td><\/td>$<\/td>11,972 <\/td><\/td><\/td>$<\/td>23,663 <\/td><\/td>$<\/td>22,952 <\/td><\/td><\/tr>
Cost of goods sold<\/td>4,812 <\/td><\/td>4,912 <\/td><\/td><\/td>9,047 <\/td><\/td>9,229 <\/td><\/td><\/tr>
Gross Profit<\/td>7,551 <\/td><\/td>7,060 <\/td><\/td><\/td>14,616 <\/td><\/td>13,723 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td>3,549 <\/td><\/td>3,321 <\/td><\/td><\/td>6,900 <\/td><\/td>6,506 <\/td><\/td><\/tr>
Other operating charges<\/td>1,370 <\/td><\/td>1,338 <\/td><\/td><\/td>2,943 <\/td><\/td>1,449 <\/td><\/td><\/tr>
Operating Income<\/td>2,632 <\/td><\/td>2,401 <\/td><\/td><\/td>4,773 <\/td><\/td>5,768 <\/td><\/td><\/tr>
Interest income<\/td>275 <\/td><\/td>224 <\/td><\/td><\/td>521 <\/td><\/td>392 <\/td><\/td><\/tr>
Interest expense<\/td>418 <\/td><\/td>374 <\/td><\/td><\/td>800 <\/td><\/td>746 <\/td><\/td><\/tr>
Equity income (loss) - net<\/td>537 <\/td><\/td>538 <\/td><\/td><\/td>891 <\/td><\/td>813 <\/td><\/td><\/tr>
Other income (loss) - net<\/td>2 <\/td><\/td>91 <\/td><\/td><\/td>1,515 <\/td><\/td>706 <\/td><\/td><\/tr>
Income Before Income Taxes<\/td>3,028 <\/td><\/td>2,880 <\/td><\/td><\/td>6,900 <\/td><\/td>6,933 <\/td><\/td><\/tr>
Income taxes <\/td>627 <\/td><\/td>359 <\/td><\/td><\/td>1,314 <\/td><\/td>1,299 <\/td><\/td><\/tr>
Consolidated Net Income<\/td>2,401 <\/td><\/td>2,521 <\/td><\/td><\/td>5,586 <\/td><\/td>5,634 <\/td><\/td><\/tr>
Less: Net income (loss) attributable to noncontrolling interests<\/td>(10)<\/td><\/td>(26)<\/td><\/td><\/td>(2)<\/td><\/td>(20)<\/td><\/td><\/tr>
Net Income Attributable to Shareowners of The Coca-Cola Company<\/td>$<\/td>2,411 <\/td><\/td>$<\/td>2,547 <\/td><\/td><\/td>$<\/td>5,588 <\/td><\/td>$<\/td>5,654 <\/td><\/td><\/tr>
Basic Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.30 <\/td><\/td>$<\/td>1.31 <\/td><\/td><\/tr>
Diluted Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.29 <\/td><\/td>$<\/td>1.30 <\/td><\/td><\/tr>
Average Shares Outstanding - Basic<\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/tr>
Effect of dilutive securities<\/td>10 <\/td><\/td>16 <\/td><\/td><\/td>12 <\/td><\/td>18 <\/td><\/td><\/tr>
Average Shares Outstanding - Diluted<\/td>4,319 <\/td><\/td>4,341 <\/td><\/td><\/td>4,321 <\/td><\/td>4,343 <\/td><\/td><\/tr><\/table>\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_without_headers":"\nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Net Operating Revenues<\/td>$<\/td>12,363 <\/td><\/td>$<\/td>11,972 <\/td><\/td><\/td>$<\/td>23,663 <\/td><\/td>$<\/td>22,952 <\/td><\/td><\/tr>
Cost of goods sold<\/td>4,812 <\/td><\/td>4,912 <\/td><\/td><\/td>9,047 <\/td><\/td>9,229 <\/td><\/td><\/tr>
Gross Profit<\/td>7,551 <\/td><\/td>7,060 <\/td><\/td><\/td>14,616 <\/td><\/td>13,723 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td>3,549 <\/td><\/td>3,321 <\/td><\/td><\/td>6,900 <\/td><\/td>6,506 <\/td><\/td><\/tr>
Other operating charges<\/td>1,370 <\/td><\/td>1,338 <\/td><\/td><\/td>2,943 <\/td><\/td>1,449 <\/td><\/td><\/tr>
Operating Income<\/td>2,632 <\/td><\/td>2,401 <\/td><\/td><\/td>4,773 <\/td><\/td>5,768 <\/td><\/td><\/tr>
Interest income<\/td>275 <\/td><\/td>224 <\/td><\/td><\/td>521 <\/td><\/td>392 <\/td><\/td><\/tr>
Interest expense<\/td>418 <\/td><\/td>374 <\/td><\/td><\/td>800 <\/td><\/td>746 <\/td><\/td><\/tr>
Equity income (loss) - net<\/td>537 <\/td><\/td>538 <\/td><\/td><\/td>891 <\/td><\/td>813 <\/td><\/td><\/tr>
Other income (loss) - net<\/td>2 <\/td><\/td>91 <\/td><\/td><\/td>1,515 <\/td><\/td>706 <\/td><\/td><\/tr>
Income Before Income Taxes<\/td>3,028 <\/td><\/td>2,880 <\/td><\/td><\/td>6,900 <\/td><\/td>6,933 <\/td><\/td><\/tr>
Income taxes <\/td>627 <\/td><\/td>359 <\/td><\/td><\/td>1,314 <\/td><\/td>1,299 <\/td><\/td><\/tr>
Consolidated Net Income<\/td>2,401 <\/td><\/td>2,521 <\/td><\/td><\/td>5,586 <\/td><\/td>5,634 <\/td><\/td><\/tr>
Less: Net income (loss) attributable to noncontrolling interests<\/td>(10)<\/td><\/td>(26)<\/td><\/td><\/td>(2)<\/td><\/td>(20)<\/td><\/td><\/tr>
Net Income Attributable to Shareowners of The Coca-Cola Company<\/td>$<\/td>2,411 <\/td><\/td>$<\/td>2,547 <\/td><\/td><\/td>$<\/td>5,588 <\/td><\/td>$<\/td>5,654 <\/td><\/td><\/tr>
Basic Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.30 <\/td><\/td>$<\/td>1.31 <\/td><\/td><\/tr>
Diluted Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.29 <\/td><\/td>$<\/td>1.30 <\/td><\/td><\/tr>
Average Shares Outstanding - Basic<\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/tr>
Effect of dilutive securities<\/td>10 <\/td><\/td>16 <\/td><\/td><\/td>12 <\/td><\/td>18 <\/td><\/td><\/tr>
Average Shares Outstanding - Diluted<\/td>4,319 <\/td><\/td>4,341 <\/td><\/td><\/td>4,321 <\/td><\/td>4,343 <\/td><\/td><\/tr><\/table>\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n"} +{"QID":"q_Ra148","Question":" How does Coca-Cola's Net Profit Margin for the six months ended June 28, 2024, compare to the same period in 2023?","ground_truth_answer":"Net Profit Margin for 2024 = (5,588\/ 23,663) *100 = 23.62%, Net Profit Margin for 2023 = (5,654 \/ 22,952) * 100 = 24.64%. The Net Profit Margin decreased from 24.64% in 2023 to 23.62% in 2024.","question_type":"Ratio","page_number":2,"accession_number":"0000021344-24-000044","item":"Item 1. Financial Statements","context_markdown_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2: \nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------|:-------------------|:-------------|:-----------------|:-------------|:-------------|:-------|:-------|:-------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | June 28,2024 | June 30,2023 | | | | | |\n| 3 | Net Operating Revenues | $ | 12,363 | | $ | 11,972 | | $ | 23,663 | $ | 22,952 |\n| 4 | Cost of goods sold | 4,812 | | 4,912 | | | 9,047 | 9,229 | | | |\n| 5 | Gross Profit | 7,551 | | 7,060 | | | 14,616 | 13,723 | | | |\n| 6 | Selling, general and administrative expenses | 3,549 | | 3,321 | | | 6,900 | 6,506 | | | |\n| 7 | Other operating charges | 1,370 | | 1,338 | | | 2,943 | 1,449 | | | |\n| 8 | Operating Income | 2,632 | | 2,401 | | | 4,773 | 5,768 | | | |\n| 9 | Interest income | 275 | | 224 | | | 521 | 392 | | | |\n| 10 | Interest expense | 418 | | 374 | | | 800 | 746 | | | |\n| 11 | Equity income (loss) - net | 537 | | 538 | | | 891 | 813 | | | |\n| 12 | Other income (loss) - net | 2 | | 91 | | | 1,515 | 706 | | | |\n| 13 | Income Before Income Taxes | 3,028 | | 2,880 | | | 6,900 | 6,933 | | | |\n| 14 | Income taxes | 627 | | 359 | | | 1,314 | 1,299 | | | |\n| 15 | Consolidated Net Income | 2,401 | | 2,521 | | | 5,586 | 5,634 | | | |\n| 16 | Less: Net income (loss) attributable to noncontrolling interests | (10) | | (26) | | | (2) | (20) | | | |\n| 17 | Net Income Attributable to Shareowners of The Coca-Cola Company | $ | 2,411 | | $ | 2,547 | | $ | 5,588 | $ | 5,654 |\n| 18 | Basic Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.30 | $ | 1.31 |\n| 19 | Diluted Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.29 | $ | 1.30 |\n| 20 | Average Shares Outstanding - Basic | 4,309 | | 4,325 | | | 4,309 | 4,325 | | | |\n| 21 | Effect of dilutive securities | 10 | | 16 | | | 12 | 18 | | | |\n| 22 | Average Shares Outstanding - Diluted | 4,319 | | 4,341 | | | 4,321 | 4,343 | | | |\n\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n","context_markdown_without_headers":"\nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------|:-------------------|:-------------|:-----------------|:-------------|:-------------|:-------|:-------|:-------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | June 28,2024 | June 30,2023 | | | | | |\n| 3 | Net Operating Revenues | $ | 12,363 | | $ | 11,972 | | $ | 23,663 | $ | 22,952 |\n| 4 | Cost of goods sold | 4,812 | | 4,912 | | | 9,047 | 9,229 | | | |\n| 5 | Gross Profit | 7,551 | | 7,060 | | | 14,616 | 13,723 | | | |\n| 6 | Selling, general and administrative expenses | 3,549 | | 3,321 | | | 6,900 | 6,506 | | | |\n| 7 | Other operating charges | 1,370 | | 1,338 | | | 2,943 | 1,449 | | | |\n| 8 | Operating Income | 2,632 | | 2,401 | | | 4,773 | 5,768 | | | |\n| 9 | Interest income | 275 | | 224 | | | 521 | 392 | | | |\n| 10 | Interest expense | 418 | | 374 | | | 800 | 746 | | | |\n| 11 | Equity income (loss) - net | 537 | | 538 | | | 891 | 813 | | | |\n| 12 | Other income (loss) - net | 2 | | 91 | | | 1,515 | 706 | | | |\n| 13 | Income Before Income Taxes | 3,028 | | 2,880 | | | 6,900 | 6,933 | | | |\n| 14 | Income taxes | 627 | | 359 | | | 1,314 | 1,299 | | | |\n| 15 | Consolidated Net Income | 2,401 | | 2,521 | | | 5,586 | 5,634 | | | |\n| 16 | Less: Net income (loss) attributable to noncontrolling interests | (10) | | (26) | | | (2) | (20) | | | |\n| 17 | Net Income Attributable to Shareowners of The Coca-Cola Company | $ | 2,411 | | $ | 2,547 | | $ | 5,588 | $ | 5,654 |\n| 18 | Basic Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.30 | $ | 1.31 |\n| 19 | Diluted Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.29 | $ | 1.30 |\n| 20 | Average Shares Outstanding - Basic | 4,309 | | 4,325 | | | 4,309 | 4,325 | | | |\n| 21 | Effect of dilutive securities | 10 | | 16 | | | 12 | 18 | | | |\n| 22 | Average Shares Outstanding - Diluted | 4,319 | | 4,341 | | | 4,321 | 4,343 | | | |\n\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n","context_html_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2: \nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Net Operating Revenues<\/td>$<\/td>12,363 <\/td><\/td>$<\/td>11,972 <\/td><\/td><\/td>$<\/td>23,663 <\/td><\/td>$<\/td>22,952 <\/td><\/td><\/tr>
Cost of goods sold<\/td>4,812 <\/td><\/td>4,912 <\/td><\/td><\/td>9,047 <\/td><\/td>9,229 <\/td><\/td><\/tr>
Gross Profit<\/td>7,551 <\/td><\/td>7,060 <\/td><\/td><\/td>14,616 <\/td><\/td>13,723 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td>3,549 <\/td><\/td>3,321 <\/td><\/td><\/td>6,900 <\/td><\/td>6,506 <\/td><\/td><\/tr>
Other operating charges<\/td>1,370 <\/td><\/td>1,338 <\/td><\/td><\/td>2,943 <\/td><\/td>1,449 <\/td><\/td><\/tr>
Operating Income<\/td>2,632 <\/td><\/td>2,401 <\/td><\/td><\/td>4,773 <\/td><\/td>5,768 <\/td><\/td><\/tr>
Interest income<\/td>275 <\/td><\/td>224 <\/td><\/td><\/td>521 <\/td><\/td>392 <\/td><\/td><\/tr>
Interest expense<\/td>418 <\/td><\/td>374 <\/td><\/td><\/td>800 <\/td><\/td>746 <\/td><\/td><\/tr>
Equity income (loss) - net<\/td>537 <\/td><\/td>538 <\/td><\/td><\/td>891 <\/td><\/td>813 <\/td><\/td><\/tr>
Other income (loss) - net<\/td>2 <\/td><\/td>91 <\/td><\/td><\/td>1,515 <\/td><\/td>706 <\/td><\/td><\/tr>
Income Before Income Taxes<\/td>3,028 <\/td><\/td>2,880 <\/td><\/td><\/td>6,900 <\/td><\/td>6,933 <\/td><\/td><\/tr>
Income taxes <\/td>627 <\/td><\/td>359 <\/td><\/td><\/td>1,314 <\/td><\/td>1,299 <\/td><\/td><\/tr>
Consolidated Net Income<\/td>2,401 <\/td><\/td>2,521 <\/td><\/td><\/td>5,586 <\/td><\/td>5,634 <\/td><\/td><\/tr>
Less: Net income (loss) attributable to noncontrolling interests<\/td>(10)<\/td><\/td>(26)<\/td><\/td><\/td>(2)<\/td><\/td>(20)<\/td><\/td><\/tr>
Net Income Attributable to Shareowners of The Coca-Cola Company<\/td>$<\/td>2,411 <\/td><\/td>$<\/td>2,547 <\/td><\/td><\/td>$<\/td>5,588 <\/td><\/td>$<\/td>5,654 <\/td><\/td><\/tr>
Basic Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.30 <\/td><\/td>$<\/td>1.31 <\/td><\/td><\/tr>
Diluted Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.29 <\/td><\/td>$<\/td>1.30 <\/td><\/td><\/tr>
Average Shares Outstanding - Basic<\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/tr>
Effect of dilutive securities<\/td>10 <\/td><\/td>16 <\/td><\/td><\/td>12 <\/td><\/td>18 <\/td><\/td><\/tr>
Average Shares Outstanding - Diluted<\/td>4,319 <\/td><\/td>4,341 <\/td><\/td><\/td>4,321 <\/td><\/td>4,343 <\/td><\/td><\/tr><\/table>\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n","context_html_without_headers":"\nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Net Operating Revenues<\/td>$<\/td>12,363 <\/td><\/td>$<\/td>11,972 <\/td><\/td><\/td>$<\/td>23,663 <\/td><\/td>$<\/td>22,952 <\/td><\/td><\/tr>
Cost of goods sold<\/td>4,812 <\/td><\/td>4,912 <\/td><\/td><\/td>9,047 <\/td><\/td>9,229 <\/td><\/td><\/tr>
Gross Profit<\/td>7,551 <\/td><\/td>7,060 <\/td><\/td><\/td>14,616 <\/td><\/td>13,723 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td>3,549 <\/td><\/td>3,321 <\/td><\/td><\/td>6,900 <\/td><\/td>6,506 <\/td><\/td><\/tr>
Other operating charges<\/td>1,370 <\/td><\/td>1,338 <\/td><\/td><\/td>2,943 <\/td><\/td>1,449 <\/td><\/td><\/tr>
Operating Income<\/td>2,632 <\/td><\/td>2,401 <\/td><\/td><\/td>4,773 <\/td><\/td>5,768 <\/td><\/td><\/tr>
Interest income<\/td>275 <\/td><\/td>224 <\/td><\/td><\/td>521 <\/td><\/td>392 <\/td><\/td><\/tr>
Interest expense<\/td>418 <\/td><\/td>374 <\/td><\/td><\/td>800 <\/td><\/td>746 <\/td><\/td><\/tr>
Equity income (loss) - net<\/td>537 <\/td><\/td>538 <\/td><\/td><\/td>891 <\/td><\/td>813 <\/td><\/td><\/tr>
Other income (loss) - net<\/td>2 <\/td><\/td>91 <\/td><\/td><\/td>1,515 <\/td><\/td>706 <\/td><\/td><\/tr>
Income Before Income Taxes<\/td>3,028 <\/td><\/td>2,880 <\/td><\/td><\/td>6,900 <\/td><\/td>6,933 <\/td><\/td><\/tr>
Income taxes <\/td>627 <\/td><\/td>359 <\/td><\/td><\/td>1,314 <\/td><\/td>1,299 <\/td><\/td><\/tr>
Consolidated Net Income<\/td>2,401 <\/td><\/td>2,521 <\/td><\/td><\/td>5,586 <\/td><\/td>5,634 <\/td><\/td><\/tr>
Less: Net income (loss) attributable to noncontrolling interests<\/td>(10)<\/td><\/td>(26)<\/td><\/td><\/td>(2)<\/td><\/td>(20)<\/td><\/td><\/tr>
Net Income Attributable to Shareowners of The Coca-Cola Company<\/td>$<\/td>2,411 <\/td><\/td>$<\/td>2,547 <\/td><\/td><\/td>$<\/td>5,588 <\/td><\/td>$<\/td>5,654 <\/td><\/td><\/tr>
Basic Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.30 <\/td><\/td>$<\/td>1.31 <\/td><\/td><\/tr>
Diluted Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.29 <\/td><\/td>$<\/td>1.30 <\/td><\/td><\/tr>
Average Shares Outstanding - Basic<\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/tr>
Effect of dilutive securities<\/td>10 <\/td><\/td>16 <\/td><\/td><\/td>12 <\/td><\/td>18 <\/td><\/td><\/tr>
Average Shares Outstanding - Diluted<\/td>4,319 <\/td><\/td>4,341 <\/td><\/td><\/td>4,321 <\/td><\/td>4,343 <\/td><\/td><\/tr><\/table>\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n"} +{"QID":"q_Ra149","Question":"What is the Interest Coverage Ratio for Coca-Cola for the six months ended June 28, 2024?","ground_truth_answer":"Interest Coverage Ratio = EBIT \/ Interest Expenses = $4,773 million \/ $800 million = 5.97","question_type":"Ratio","page_number":2,"accession_number":"0000021344-24-000044","item":"Item 1. Financial Statements","context_markdown_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2: \nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------|:-------------------|:-------------|:-----------------|:-------------|:-------------|:-------|:-------|:-------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | June 28,2024 | June 30,2023 | | | | | |\n| 3 | Net Operating Revenues | $ | 12,363 | | $ | 11,972 | | $ | 23,663 | $ | 22,952 |\n| 4 | Cost of goods sold | 4,812 | | 4,912 | | | 9,047 | 9,229 | | | |\n| 5 | Gross Profit | 7,551 | | 7,060 | | | 14,616 | 13,723 | | | |\n| 6 | Selling, general and administrative expenses | 3,549 | | 3,321 | | | 6,900 | 6,506 | | | |\n| 7 | Other operating charges | 1,370 | | 1,338 | | | 2,943 | 1,449 | | | |\n| 8 | Operating Income | 2,632 | | 2,401 | | | 4,773 | 5,768 | | | |\n| 9 | Interest income | 275 | | 224 | | | 521 | 392 | | | |\n| 10 | Interest expense | 418 | | 374 | | | 800 | 746 | | | |\n| 11 | Equity income (loss) - net | 537 | | 538 | | | 891 | 813 | | | |\n| 12 | Other income (loss) - net | 2 | | 91 | | | 1,515 | 706 | | | |\n| 13 | Income Before Income Taxes | 3,028 | | 2,880 | | | 6,900 | 6,933 | | | |\n| 14 | Income taxes | 627 | | 359 | | | 1,314 | 1,299 | | | |\n| 15 | Consolidated Net Income | 2,401 | | 2,521 | | | 5,586 | 5,634 | | | |\n| 16 | Less: Net income (loss) attributable to noncontrolling interests | (10) | | (26) | | | (2) | (20) | | | |\n| 17 | Net Income Attributable to Shareowners of The Coca-Cola Company | $ | 2,411 | | $ | 2,547 | | $ | 5,588 | $ | 5,654 |\n| 18 | Basic Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.30 | $ | 1.31 |\n| 19 | Diluted Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.29 | $ | 1.30 |\n| 20 | Average Shares Outstanding - Basic | 4,309 | | 4,325 | | | 4,309 | 4,325 | | | |\n| 21 | Effect of dilutive securities | 10 | | 16 | | | 12 | 18 | | | |\n| 22 | Average Shares Outstanding - Diluted | 4,319 | | 4,341 | | | 4,321 | 4,343 | | | |\n\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n","context_markdown_without_headers":"\nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------|:-------------------|:-------------|:-----------------|:-------------|:-------------|:-------|:-------|:-------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | June 28,2024 | June 30,2023 | | | | | |\n| 3 | Net Operating Revenues | $ | 12,363 | | $ | 11,972 | | $ | 23,663 | $ | 22,952 |\n| 4 | Cost of goods sold | 4,812 | | 4,912 | | | 9,047 | 9,229 | | | |\n| 5 | Gross Profit | 7,551 | | 7,060 | | | 14,616 | 13,723 | | | |\n| 6 | Selling, general and administrative expenses | 3,549 | | 3,321 | | | 6,900 | 6,506 | | | |\n| 7 | Other operating charges | 1,370 | | 1,338 | | | 2,943 | 1,449 | | | |\n| 8 | Operating Income | 2,632 | | 2,401 | | | 4,773 | 5,768 | | | |\n| 9 | Interest income | 275 | | 224 | | | 521 | 392 | | | |\n| 10 | Interest expense | 418 | | 374 | | | 800 | 746 | | | |\n| 11 | Equity income (loss) - net | 537 | | 538 | | | 891 | 813 | | | |\n| 12 | Other income (loss) - net | 2 | | 91 | | | 1,515 | 706 | | | |\n| 13 | Income Before Income Taxes | 3,028 | | 2,880 | | | 6,900 | 6,933 | | | |\n| 14 | Income taxes | 627 | | 359 | | | 1,314 | 1,299 | | | |\n| 15 | Consolidated Net Income | 2,401 | | 2,521 | | | 5,586 | 5,634 | | | |\n| 16 | Less: Net income (loss) attributable to noncontrolling interests | (10) | | (26) | | | (2) | (20) | | | |\n| 17 | Net Income Attributable to Shareowners of The Coca-Cola Company | $ | 2,411 | | $ | 2,547 | | $ | 5,588 | $ | 5,654 |\n| 18 | Basic Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.30 | $ | 1.31 |\n| 19 | Diluted Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.29 | $ | 1.30 |\n| 20 | Average Shares Outstanding - Basic | 4,309 | | 4,325 | | | 4,309 | 4,325 | | | |\n| 21 | Effect of dilutive securities | 10 | | 16 | | | 12 | 18 | | | |\n| 22 | Average Shares Outstanding - Diluted | 4,319 | | 4,341 | | | 4,321 | 4,343 | | | |\n\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n","context_html_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2: \nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Net Operating Revenues<\/td>$<\/td>12,363 <\/td><\/td>$<\/td>11,972 <\/td><\/td><\/td>$<\/td>23,663 <\/td><\/td>$<\/td>22,952 <\/td><\/td><\/tr>
Cost of goods sold<\/td>4,812 <\/td><\/td>4,912 <\/td><\/td><\/td>9,047 <\/td><\/td>9,229 <\/td><\/td><\/tr>
Gross Profit<\/td>7,551 <\/td><\/td>7,060 <\/td><\/td><\/td>14,616 <\/td><\/td>13,723 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td>3,549 <\/td><\/td>3,321 <\/td><\/td><\/td>6,900 <\/td><\/td>6,506 <\/td><\/td><\/tr>
Other operating charges<\/td>1,370 <\/td><\/td>1,338 <\/td><\/td><\/td>2,943 <\/td><\/td>1,449 <\/td><\/td><\/tr>
Operating Income<\/td>2,632 <\/td><\/td>2,401 <\/td><\/td><\/td>4,773 <\/td><\/td>5,768 <\/td><\/td><\/tr>
Interest income<\/td>275 <\/td><\/td>224 <\/td><\/td><\/td>521 <\/td><\/td>392 <\/td><\/td><\/tr>
Interest expense<\/td>418 <\/td><\/td>374 <\/td><\/td><\/td>800 <\/td><\/td>746 <\/td><\/td><\/tr>
Equity income (loss) - net<\/td>537 <\/td><\/td>538 <\/td><\/td><\/td>891 <\/td><\/td>813 <\/td><\/td><\/tr>
Other income (loss) - net<\/td>2 <\/td><\/td>91 <\/td><\/td><\/td>1,515 <\/td><\/td>706 <\/td><\/td><\/tr>
Income Before Income Taxes<\/td>3,028 <\/td><\/td>2,880 <\/td><\/td><\/td>6,900 <\/td><\/td>6,933 <\/td><\/td><\/tr>
Income taxes <\/td>627 <\/td><\/td>359 <\/td><\/td><\/td>1,314 <\/td><\/td>1,299 <\/td><\/td><\/tr>
Consolidated Net Income<\/td>2,401 <\/td><\/td>2,521 <\/td><\/td><\/td>5,586 <\/td><\/td>5,634 <\/td><\/td><\/tr>
Less: Net income (loss) attributable to noncontrolling interests<\/td>(10)<\/td><\/td>(26)<\/td><\/td><\/td>(2)<\/td><\/td>(20)<\/td><\/td><\/tr>
Net Income Attributable to Shareowners of The Coca-Cola Company<\/td>$<\/td>2,411 <\/td><\/td>$<\/td>2,547 <\/td><\/td><\/td>$<\/td>5,588 <\/td><\/td>$<\/td>5,654 <\/td><\/td><\/tr>
Basic Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.30 <\/td><\/td>$<\/td>1.31 <\/td><\/td><\/tr>
Diluted Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.29 <\/td><\/td>$<\/td>1.30 <\/td><\/td><\/tr>
Average Shares Outstanding - Basic<\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/tr>
Effect of dilutive securities<\/td>10 <\/td><\/td>16 <\/td><\/td><\/td>12 <\/td><\/td>18 <\/td><\/td><\/tr>
Average Shares Outstanding - Diluted<\/td>4,319 <\/td><\/td>4,341 <\/td><\/td><\/td>4,321 <\/td><\/td>4,343 <\/td><\/td><\/tr><\/table>\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n","context_html_without_headers":"\nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Net Operating Revenues<\/td>$<\/td>12,363 <\/td><\/td>$<\/td>11,972 <\/td><\/td><\/td>$<\/td>23,663 <\/td><\/td>$<\/td>22,952 <\/td><\/td><\/tr>
Cost of goods sold<\/td>4,812 <\/td><\/td>4,912 <\/td><\/td><\/td>9,047 <\/td><\/td>9,229 <\/td><\/td><\/tr>
Gross Profit<\/td>7,551 <\/td><\/td>7,060 <\/td><\/td><\/td>14,616 <\/td><\/td>13,723 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td>3,549 <\/td><\/td>3,321 <\/td><\/td><\/td>6,900 <\/td><\/td>6,506 <\/td><\/td><\/tr>
Other operating charges<\/td>1,370 <\/td><\/td>1,338 <\/td><\/td><\/td>2,943 <\/td><\/td>1,449 <\/td><\/td><\/tr>
Operating Income<\/td>2,632 <\/td><\/td>2,401 <\/td><\/td><\/td>4,773 <\/td><\/td>5,768 <\/td><\/td><\/tr>
Interest income<\/td>275 <\/td><\/td>224 <\/td><\/td><\/td>521 <\/td><\/td>392 <\/td><\/td><\/tr>
Interest expense<\/td>418 <\/td><\/td>374 <\/td><\/td><\/td>800 <\/td><\/td>746 <\/td><\/td><\/tr>
Equity income (loss) - net<\/td>537 <\/td><\/td>538 <\/td><\/td><\/td>891 <\/td><\/td>813 <\/td><\/td><\/tr>
Other income (loss) - net<\/td>2 <\/td><\/td>91 <\/td><\/td><\/td>1,515 <\/td><\/td>706 <\/td><\/td><\/tr>
Income Before Income Taxes<\/td>3,028 <\/td><\/td>2,880 <\/td><\/td><\/td>6,900 <\/td><\/td>6,933 <\/td><\/td><\/tr>
Income taxes <\/td>627 <\/td><\/td>359 <\/td><\/td><\/td>1,314 <\/td><\/td>1,299 <\/td><\/td><\/tr>
Consolidated Net Income<\/td>2,401 <\/td><\/td>2,521 <\/td><\/td><\/td>5,586 <\/td><\/td>5,634 <\/td><\/td><\/tr>
Less: Net income (loss) attributable to noncontrolling interests<\/td>(10)<\/td><\/td>(26)<\/td><\/td><\/td>(2)<\/td><\/td>(20)<\/td><\/td><\/tr>
Net Income Attributable to Shareowners of The Coca-Cola Company<\/td>$<\/td>2,411 <\/td><\/td>$<\/td>2,547 <\/td><\/td><\/td>$<\/td>5,588 <\/td><\/td>$<\/td>5,654 <\/td><\/td><\/tr>
Basic Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.30 <\/td><\/td>$<\/td>1.31 <\/td><\/td><\/tr>
Diluted Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.29 <\/td><\/td>$<\/td>1.30 <\/td><\/td><\/tr>
Average Shares Outstanding - Basic<\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/tr>
Effect of dilutive securities<\/td>10 <\/td><\/td>16 <\/td><\/td><\/td>12 <\/td><\/td>18 <\/td><\/td><\/tr>
Average Shares Outstanding - Diluted<\/td>4,319 <\/td><\/td>4,341 <\/td><\/td><\/td>4,321 <\/td><\/td>4,343 <\/td><\/td><\/tr><\/table>\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n"} +{"QID":"q_Ra150","Question":"What is the Long-term Debt to Capitalization Ratio for Coca-Cola as of June 28, 2024?","ground_truth_answer":"Long-term Debt to Capitalization Ratio = Long-term Debt \/ (Long-term Debt + Shareholders' Equity) = $38,085 million \/ ($38,085 million + $25,853 million) = 0.60","question_type":"Ratio","page_number":4,"accession_number":"0000021344-24-000044","item":"Item 1. Financial Statements","context_markdown_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_markdown_without_headers":"\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_without_headers":"\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n"} +{"QID":"q_Ra151","Question":"How does Coca-Cola's Debt Equity Ratio as of June 28, 2024, compare to December 31, 2023?","ground_truth_answer":"Debt Equity Ratio as of June 28, 2024 = 1.68, Debt Equity Ratio as of December 31, 2023 = (4,557 + 1,960 + 35,547) \/ 25,941 = 1.64. The Debt Equity Ratio increased from 1.64 to 1.68.","question_type":"Ratio","page_number":4,"accession_number":"0000021344-24-000044","item":"Item 1. Financial Statements","context_markdown_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_markdown_without_headers":"\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_without_headers":"\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n"} +{"QID":"q_Ra152","Question":"What is the Working Capital for Coca-Cola as of June 28, 2024?","ground_truth_answer":"Working Capital = Current Assets - Current Liabilities = $31,599 million - $29,263 million = $2,336 million","question_type":"Ratio","page_number":4,"accession_number":"0000021344-24-000044","item":"Item 1. Financial Statements","context_markdown_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_markdown_without_headers":"\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_without_headers":"\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n"} +{"QID":"q_Ra153","Question":"What is the Operating Cash Flow Ratio for Coca-Cola for the six months ended June 28, 2024?","ground_truth_answer":"Operating Cash Flow Ratio = Operating Cash Flow \/ Current Liabilities = $4,113 million \/ $29,263 million = 0.14","question_type":"Ratio","page_number":"4, 5","accession_number":"0000021344-24-000044","item":"Item 1. Financial Statements","context_markdown_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n, COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 5: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n| | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----------------|:-------------|:--------|:---|:-------|\n| 1 | | Six Months Ended | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | | |\n| 3 | Operating Activities | | | | | |\n| 4 | Consolidated net income | $ | 5,586 | | $ | 5,634 |\n| 5 | Adjustments to reconcile consolidated net income to net cash provided by operating activities: | | | | | |\n| 6 | Depreciation and amortization | 531 | | 567 | | |\n| 7 | Stock-based compensation expense | 140 | | 120 | | |\n| 8 | Deferred income taxes | (202) | | (211) | | |\n| 9 | Equity (income) loss - net of dividends | (274) | | (467) | | |\n| 10 | Foreign currency adjustments | (87) | | 34 | | |\n| 11 | Significant (gains) losses - net | (1,398) | | (442) | | |\n| 12 | Other operating charges | 2,867 | | 1,375 | | |\n| 13 | Other items | (66) | | (225) | | |\n| 14 | Net change in operating assets and liabilities | (2,984) | | (1,756) | | |\n| 15 | Net Cash Provided by Operating Activities | 4,113 | | 4,629 | | |\n| 16 | Investing Activities | | | | | |\n| 17 | Purchases of investments | (3,827) | | (2,103) | | |\n| 18 | Proceeds from disposals of investments | 2,662 | | 1,608 | | |\n| 19 | Acquisitions of businesses, equity method investments and nonmarketable securities | (25) | | (43) | | |\n| 20 | Proceeds from disposals of businesses, equity method investments and nonmarketable securities | 2,907 | | 320 | | |\n| 21 | Purchases of property, plant and equipment | (792) | | (615) | | |\n| 22 | Proceeds from disposals of property, plant and equipment | 21 | | 38 | | |\n| 23 | Collateral (paid) received associated with hedging activities - net | (76) | | (15) | | |\n| 24 | Other investing activities | 127 | | 44 | | |\n| 25 | Net Cash Provided by (Used in) Investing Activities | 997 | | (766) | | |\n| 26 | Financing Activities | | | | | |\n| 27 | Issuances of loans, notes payable and long-term debt | 6,832 | | 4,638 | | |\n| 28 | Payments of loans, notes payable and long-term debt | (4,734) | | (2,366) | | |\n| 29 | Issuances of stock | 437 | | 359 | | |\n| 30 | Purchases of stock for treasury | (874) | | (1,084) | | |\n| 31 | Dividends | (2,184) | | (2,089) | | |\n| 32 | Other financing activities | (9) | | (456) | | |\n| 33 | Net Cash Provided by (Used in) Financing Activities | (532) | | (998) | | |\n| 34 | Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | (357) | | 162 | | |\n| 35 | Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | | | | | |\n| 36 | Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period | 4,221 | | 3,027 | | |\n| 37 | Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period | 9,692 | | 9,825 | | |\n| 38 | Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at End of Period | 13,913 | | 12,852 | | |\n| 39 | Less: Restricted cash and restricted cash equivalents at end of period | 205 | | 288 | | |\n| 40 | Cash and Cash Equivalents at End of Period | $ | 13,708 | | $ | 12,564 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n5\n\n\n\n\n","context_markdown_without_headers":"\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n, \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n| | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----------------|:-------------|:--------|:---|:-------|\n| 1 | | Six Months Ended | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | | |\n| 3 | Operating Activities | | | | | |\n| 4 | Consolidated net income | $ | 5,586 | | $ | 5,634 |\n| 5 | Adjustments to reconcile consolidated net income to net cash provided by operating activities: | | | | | |\n| 6 | Depreciation and amortization | 531 | | 567 | | |\n| 7 | Stock-based compensation expense | 140 | | 120 | | |\n| 8 | Deferred income taxes | (202) | | (211) | | |\n| 9 | Equity (income) loss - net of dividends | (274) | | (467) | | |\n| 10 | Foreign currency adjustments | (87) | | 34 | | |\n| 11 | Significant (gains) losses - net | (1,398) | | (442) | | |\n| 12 | Other operating charges | 2,867 | | 1,375 | | |\n| 13 | Other items | (66) | | (225) | | |\n| 14 | Net change in operating assets and liabilities | (2,984) | | (1,756) | | |\n| 15 | Net Cash Provided by Operating Activities | 4,113 | | 4,629 | | |\n| 16 | Investing Activities | | | | | |\n| 17 | Purchases of investments | (3,827) | | (2,103) | | |\n| 18 | Proceeds from disposals of investments | 2,662 | | 1,608 | | |\n| 19 | Acquisitions of businesses, equity method investments and nonmarketable securities | (25) | | (43) | | |\n| 20 | Proceeds from disposals of businesses, equity method investments and nonmarketable securities | 2,907 | | 320 | | |\n| 21 | Purchases of property, plant and equipment | (792) | | (615) | | |\n| 22 | Proceeds from disposals of property, plant and equipment | 21 | | 38 | | |\n| 23 | Collateral (paid) received associated with hedging activities - net | (76) | | (15) | | |\n| 24 | Other investing activities | 127 | | 44 | | |\n| 25 | Net Cash Provided by (Used in) Investing Activities | 997 | | (766) | | |\n| 26 | Financing Activities | | | | | |\n| 27 | Issuances of loans, notes payable and long-term debt | 6,832 | | 4,638 | | |\n| 28 | Payments of loans, notes payable and long-term debt | (4,734) | | (2,366) | | |\n| 29 | Issuances of stock | 437 | | 359 | | |\n| 30 | Purchases of stock for treasury | (874) | | (1,084) | | |\n| 31 | Dividends | (2,184) | | (2,089) | | |\n| 32 | Other financing activities | (9) | | (456) | | |\n| 33 | Net Cash Provided by (Used in) Financing Activities | (532) | | (998) | | |\n| 34 | Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | (357) | | 162 | | |\n| 35 | Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | | | | | |\n| 36 | Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period | 4,221 | | 3,027 | | |\n| 37 | Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period | 9,692 | | 9,825 | | |\n| 38 | Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at End of Period | 13,913 | | 12,852 | | |\n| 39 | Less: Restricted cash and restricted cash equivalents at end of period | 205 | | 288 | | |\n| 40 | Cash and Cash Equivalents at End of Period | $ | 13,708 | | $ | 12,564 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n5\n\n\n\n\n","context_html_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n, COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 5: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Operating Activities<\/td> <\/td> <\/td><\/tr>
Consolidated net income<\/td>$<\/td>5,586 <\/td><\/td>$<\/td>5,634 <\/td><\/td><\/tr>
Adjustments to reconcile consolidated net income to net cash provided by operating activities: <\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>531 <\/td><\/td>567 <\/td><\/td><\/tr>
Stock-based compensation expense<\/td>140 <\/td><\/td>120 <\/td><\/td><\/tr>
Deferred income taxes<\/td>(202)<\/td><\/td>(211)<\/td><\/td><\/tr>
Equity (income) loss - net of dividends<\/td>(274)<\/td><\/td>(467)<\/td><\/td><\/tr>
Foreign currency adjustments<\/td>(87)<\/td><\/td>34 <\/td><\/td><\/tr>
Significant (gains) losses - net<\/td>(1,398)<\/td><\/td>(442)<\/td><\/td><\/tr>
Other operating charges<\/td>2,867 <\/td><\/td>1,375 <\/td><\/td><\/tr>
Other items<\/td>(66)<\/td><\/td>(225)<\/td><\/td><\/tr>
Net change in operating assets and liabilities<\/td>(2,984)<\/td><\/td>(1,756)<\/td><\/td><\/tr>
Net Cash Provided by Operating Activities<\/td>4,113 <\/td><\/td>4,629 <\/td><\/td><\/tr>
Investing Activities<\/td> <\/td> <\/td><\/tr>
Purchases of investments<\/td>(3,827)<\/td><\/td>(2,103)<\/td><\/td><\/tr>
Proceeds from disposals of investments<\/td>2,662 <\/td><\/td>1,608 <\/td><\/td><\/tr>
Acquisitions of businesses, equity method investments and nonmarketable securities<\/td>(25)<\/td><\/td>(43)<\/td><\/td><\/tr>
Proceeds from disposals of businesses, equity method investments and nonmarketable securities<\/td>2,907 <\/td><\/td>320 <\/td><\/td><\/tr>
Purchases of property, plant and equipment<\/td>(792)<\/td><\/td>(615)<\/td><\/td><\/tr>
Proceeds from disposals of property, plant and equipment<\/td>21 <\/td><\/td>38 <\/td><\/td><\/tr>
Collateral (paid) received associated with hedging activities - net<\/td>(76)<\/td><\/td>(15)<\/td><\/td><\/tr>
Other investing activities<\/td>127 <\/td><\/td>44 <\/td><\/td><\/tr>
Net Cash Provided by (Used in) Investing Activities<\/td>997 <\/td><\/td>(766)<\/td><\/td><\/tr>
Financing Activities<\/td><\/td> <\/td><\/tr>
Issuances of loans, notes payable and long-term debt<\/td>6,832 <\/td><\/td>4,638 <\/td><\/td><\/tr>
Payments of loans, notes payable and long-term debt<\/td>(4,734)<\/td><\/td>(2,366)<\/td><\/td><\/tr>
Issuances of stock<\/td>437 <\/td><\/td>359 <\/td><\/td><\/tr>
Purchases of stock for treasury<\/td>(874)<\/td><\/td>(1,084)<\/td><\/td><\/tr>
Dividends<\/td>(2,184)<\/td><\/td>(2,089)<\/td><\/td><\/tr>
Other financing activities<\/td>(9)<\/td><\/td>(456)<\/td><\/td><\/tr>
Net Cash Provided by (Used in) Financing Activities<\/td>(532)<\/td><\/td>(998)<\/td><\/td><\/tr>
Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents<\/td>(357)<\/td><\/td>162 <\/td><\/td><\/tr>
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents<\/td><\/td><\/td><\/tr>
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period<\/td>4,221 <\/td><\/td>3,027 <\/td><\/td><\/tr>
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period<\/td>9,692 <\/td><\/td>9,825 <\/td><\/td><\/tr>
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at End of Period<\/td>13,913 <\/td><\/td>12,852 <\/td><\/td><\/tr>
Less: Restricted cash and restricted cash equivalents at end of period<\/td>205 <\/td><\/td>288 <\/td><\/td><\/tr>
Cash and Cash Equivalents at End of Period<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>12,564 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n5\n\n\n\n\n","context_html_without_headers":"\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n, \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Operating Activities<\/td> <\/td> <\/td><\/tr>
Consolidated net income<\/td>$<\/td>5,586 <\/td><\/td>$<\/td>5,634 <\/td><\/td><\/tr>
Adjustments to reconcile consolidated net income to net cash provided by operating activities: <\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>531 <\/td><\/td>567 <\/td><\/td><\/tr>
Stock-based compensation expense<\/td>140 <\/td><\/td>120 <\/td><\/td><\/tr>
Deferred income taxes<\/td>(202)<\/td><\/td>(211)<\/td><\/td><\/tr>
Equity (income) loss - net of dividends<\/td>(274)<\/td><\/td>(467)<\/td><\/td><\/tr>
Foreign currency adjustments<\/td>(87)<\/td><\/td>34 <\/td><\/td><\/tr>
Significant (gains) losses - net<\/td>(1,398)<\/td><\/td>(442)<\/td><\/td><\/tr>
Other operating charges<\/td>2,867 <\/td><\/td>1,375 <\/td><\/td><\/tr>
Other items<\/td>(66)<\/td><\/td>(225)<\/td><\/td><\/tr>
Net change in operating assets and liabilities<\/td>(2,984)<\/td><\/td>(1,756)<\/td><\/td><\/tr>
Net Cash Provided by Operating Activities<\/td>4,113 <\/td><\/td>4,629 <\/td><\/td><\/tr>
Investing Activities<\/td> <\/td> <\/td><\/tr>
Purchases of investments<\/td>(3,827)<\/td><\/td>(2,103)<\/td><\/td><\/tr>
Proceeds from disposals of investments<\/td>2,662 <\/td><\/td>1,608 <\/td><\/td><\/tr>
Acquisitions of businesses, equity method investments and nonmarketable securities<\/td>(25)<\/td><\/td>(43)<\/td><\/td><\/tr>
Proceeds from disposals of businesses, equity method investments and nonmarketable securities<\/td>2,907 <\/td><\/td>320 <\/td><\/td><\/tr>
Purchases of property, plant and equipment<\/td>(792)<\/td><\/td>(615)<\/td><\/td><\/tr>
Proceeds from disposals of property, plant and equipment<\/td>21 <\/td><\/td>38 <\/td><\/td><\/tr>
Collateral (paid) received associated with hedging activities - net<\/td>(76)<\/td><\/td>(15)<\/td><\/td><\/tr>
Other investing activities<\/td>127 <\/td><\/td>44 <\/td><\/td><\/tr>
Net Cash Provided by (Used in) Investing Activities<\/td>997 <\/td><\/td>(766)<\/td><\/td><\/tr>
Financing Activities<\/td><\/td> <\/td><\/tr>
Issuances of loans, notes payable and long-term debt<\/td>6,832 <\/td><\/td>4,638 <\/td><\/td><\/tr>
Payments of loans, notes payable and long-term debt<\/td>(4,734)<\/td><\/td>(2,366)<\/td><\/td><\/tr>
Issuances of stock<\/td>437 <\/td><\/td>359 <\/td><\/td><\/tr>
Purchases of stock for treasury<\/td>(874)<\/td><\/td>(1,084)<\/td><\/td><\/tr>
Dividends<\/td>(2,184)<\/td><\/td>(2,089)<\/td><\/td><\/tr>
Other financing activities<\/td>(9)<\/td><\/td>(456)<\/td><\/td><\/tr>
Net Cash Provided by (Used in) Financing Activities<\/td>(532)<\/td><\/td>(998)<\/td><\/td><\/tr>
Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents<\/td>(357)<\/td><\/td>162 <\/td><\/td><\/tr>
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents<\/td><\/td><\/td><\/tr>
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period<\/td>4,221 <\/td><\/td>3,027 <\/td><\/td><\/tr>
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period<\/td>9,692 <\/td><\/td>9,825 <\/td><\/td><\/tr>
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at End of Period<\/td>13,913 <\/td><\/td>12,852 <\/td><\/td><\/tr>
Less: Restricted cash and restricted cash equivalents at end of period<\/td>205 <\/td><\/td>288 <\/td><\/td><\/tr>
Cash and Cash Equivalents at End of Period<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>12,564 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n5\n\n\n\n\n"} +{"QID":"q_Ra154","Question":"What is the Cash Flow to Debt Ratio for Coca-Cola for the six months ended June 28, 2024?","ground_truth_answer":"Cash Flow to Debt Ratio = Operating Cash Flow \/ Total Debt = 4,113 \/ (3,793 + 1,939 + 38,085) = 0.09","question_type":"Ratio","page_number":"4, 5","accession_number":"0000021344-24-000044","item":"Item 1. Financial Statements","context_markdown_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n, COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 5: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n| | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----------------|:-------------|:--------|:---|:-------|\n| 1 | | Six Months Ended | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | | |\n| 3 | Operating Activities | | | | | |\n| 4 | Consolidated net income | $ | 5,586 | | $ | 5,634 |\n| 5 | Adjustments to reconcile consolidated net income to net cash provided by operating activities: | | | | | |\n| 6 | Depreciation and amortization | 531 | | 567 | | |\n| 7 | Stock-based compensation expense | 140 | | 120 | | |\n| 8 | Deferred income taxes | (202) | | (211) | | |\n| 9 | Equity (income) loss - net of dividends | (274) | | (467) | | |\n| 10 | Foreign currency adjustments | (87) | | 34 | | |\n| 11 | Significant (gains) losses - net | (1,398) | | (442) | | |\n| 12 | Other operating charges | 2,867 | | 1,375 | | |\n| 13 | Other items | (66) | | (225) | | |\n| 14 | Net change in operating assets and liabilities | (2,984) | | (1,756) | | |\n| 15 | Net Cash Provided by Operating Activities | 4,113 | | 4,629 | | |\n| 16 | Investing Activities | | | | | |\n| 17 | Purchases of investments | (3,827) | | (2,103) | | |\n| 18 | Proceeds from disposals of investments | 2,662 | | 1,608 | | |\n| 19 | Acquisitions of businesses, equity method investments and nonmarketable securities | (25) | | (43) | | |\n| 20 | Proceeds from disposals of businesses, equity method investments and nonmarketable securities | 2,907 | | 320 | | |\n| 21 | Purchases of property, plant and equipment | (792) | | (615) | | |\n| 22 | Proceeds from disposals of property, plant and equipment | 21 | | 38 | | |\n| 23 | Collateral (paid) received associated with hedging activities - net | (76) | | (15) | | |\n| 24 | Other investing activities | 127 | | 44 | | |\n| 25 | Net Cash Provided by (Used in) Investing Activities | 997 | | (766) | | |\n| 26 | Financing Activities | | | | | |\n| 27 | Issuances of loans, notes payable and long-term debt | 6,832 | | 4,638 | | |\n| 28 | Payments of loans, notes payable and long-term debt | (4,734) | | (2,366) | | |\n| 29 | Issuances of stock | 437 | | 359 | | |\n| 30 | Purchases of stock for treasury | (874) | | (1,084) | | |\n| 31 | Dividends | (2,184) | | (2,089) | | |\n| 32 | Other financing activities | (9) | | (456) | | |\n| 33 | Net Cash Provided by (Used in) Financing Activities | (532) | | (998) | | |\n| 34 | Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | (357) | | 162 | | |\n| 35 | Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | | | | | |\n| 36 | Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period | 4,221 | | 3,027 | | |\n| 37 | Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period | 9,692 | | 9,825 | | |\n| 38 | Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at End of Period | 13,913 | | 12,852 | | |\n| 39 | Less: Restricted cash and restricted cash equivalents at end of period | 205 | | 288 | | |\n| 40 | Cash and Cash Equivalents at End of Period | $ | 13,708 | | $ | 12,564 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n5\n\n\n\n\n","context_markdown_without_headers":"\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n, \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n| | | | | | | |\n|---:|:---------------------------------------------------------------------------------------------------------------------|:-----------------|:-------------|:--------|:---|:-------|\n| 1 | | Six Months Ended | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | | |\n| 3 | Operating Activities | | | | | |\n| 4 | Consolidated net income | $ | 5,586 | | $ | 5,634 |\n| 5 | Adjustments to reconcile consolidated net income to net cash provided by operating activities: | | | | | |\n| 6 | Depreciation and amortization | 531 | | 567 | | |\n| 7 | Stock-based compensation expense | 140 | | 120 | | |\n| 8 | Deferred income taxes | (202) | | (211) | | |\n| 9 | Equity (income) loss - net of dividends | (274) | | (467) | | |\n| 10 | Foreign currency adjustments | (87) | | 34 | | |\n| 11 | Significant (gains) losses - net | (1,398) | | (442) | | |\n| 12 | Other operating charges | 2,867 | | 1,375 | | |\n| 13 | Other items | (66) | | (225) | | |\n| 14 | Net change in operating assets and liabilities | (2,984) | | (1,756) | | |\n| 15 | Net Cash Provided by Operating Activities | 4,113 | | 4,629 | | |\n| 16 | Investing Activities | | | | | |\n| 17 | Purchases of investments | (3,827) | | (2,103) | | |\n| 18 | Proceeds from disposals of investments | 2,662 | | 1,608 | | |\n| 19 | Acquisitions of businesses, equity method investments and nonmarketable securities | (25) | | (43) | | |\n| 20 | Proceeds from disposals of businesses, equity method investments and nonmarketable securities | 2,907 | | 320 | | |\n| 21 | Purchases of property, plant and equipment | (792) | | (615) | | |\n| 22 | Proceeds from disposals of property, plant and equipment | 21 | | 38 | | |\n| 23 | Collateral (paid) received associated with hedging activities - net | (76) | | (15) | | |\n| 24 | Other investing activities | 127 | | 44 | | |\n| 25 | Net Cash Provided by (Used in) Investing Activities | 997 | | (766) | | |\n| 26 | Financing Activities | | | | | |\n| 27 | Issuances of loans, notes payable and long-term debt | 6,832 | | 4,638 | | |\n| 28 | Payments of loans, notes payable and long-term debt | (4,734) | | (2,366) | | |\n| 29 | Issuances of stock | 437 | | 359 | | |\n| 30 | Purchases of stock for treasury | (874) | | (1,084) | | |\n| 31 | Dividends | (2,184) | | (2,089) | | |\n| 32 | Other financing activities | (9) | | (456) | | |\n| 33 | Net Cash Provided by (Used in) Financing Activities | (532) | | (998) | | |\n| 34 | Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | (357) | | 162 | | |\n| 35 | Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | | | | | |\n| 36 | Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period | 4,221 | | 3,027 | | |\n| 37 | Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period | 9,692 | | 9,825 | | |\n| 38 | Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at End of Period | 13,913 | | 12,852 | | |\n| 39 | Less: Restricted cash and restricted cash equivalents at end of period | 205 | | 288 | | |\n| 40 | Cash and Cash Equivalents at End of Period | $ | 13,708 | | $ | 12,564 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n5\n\n\n\n\n","context_html_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n, COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 5: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Operating Activities<\/td> <\/td> <\/td><\/tr>
Consolidated net income<\/td>$<\/td>5,586 <\/td><\/td>$<\/td>5,634 <\/td><\/td><\/tr>
Adjustments to reconcile consolidated net income to net cash provided by operating activities: <\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>531 <\/td><\/td>567 <\/td><\/td><\/tr>
Stock-based compensation expense<\/td>140 <\/td><\/td>120 <\/td><\/td><\/tr>
Deferred income taxes<\/td>(202)<\/td><\/td>(211)<\/td><\/td><\/tr>
Equity (income) loss - net of dividends<\/td>(274)<\/td><\/td>(467)<\/td><\/td><\/tr>
Foreign currency adjustments<\/td>(87)<\/td><\/td>34 <\/td><\/td><\/tr>
Significant (gains) losses - net<\/td>(1,398)<\/td><\/td>(442)<\/td><\/td><\/tr>
Other operating charges<\/td>2,867 <\/td><\/td>1,375 <\/td><\/td><\/tr>
Other items<\/td>(66)<\/td><\/td>(225)<\/td><\/td><\/tr>
Net change in operating assets and liabilities<\/td>(2,984)<\/td><\/td>(1,756)<\/td><\/td><\/tr>
Net Cash Provided by Operating Activities<\/td>4,113 <\/td><\/td>4,629 <\/td><\/td><\/tr>
Investing Activities<\/td> <\/td> <\/td><\/tr>
Purchases of investments<\/td>(3,827)<\/td><\/td>(2,103)<\/td><\/td><\/tr>
Proceeds from disposals of investments<\/td>2,662 <\/td><\/td>1,608 <\/td><\/td><\/tr>
Acquisitions of businesses, equity method investments and nonmarketable securities<\/td>(25)<\/td><\/td>(43)<\/td><\/td><\/tr>
Proceeds from disposals of businesses, equity method investments and nonmarketable securities<\/td>2,907 <\/td><\/td>320 <\/td><\/td><\/tr>
Purchases of property, plant and equipment<\/td>(792)<\/td><\/td>(615)<\/td><\/td><\/tr>
Proceeds from disposals of property, plant and equipment<\/td>21 <\/td><\/td>38 <\/td><\/td><\/tr>
Collateral (paid) received associated with hedging activities - net<\/td>(76)<\/td><\/td>(15)<\/td><\/td><\/tr>
Other investing activities<\/td>127 <\/td><\/td>44 <\/td><\/td><\/tr>
Net Cash Provided by (Used in) Investing Activities<\/td>997 <\/td><\/td>(766)<\/td><\/td><\/tr>
Financing Activities<\/td><\/td> <\/td><\/tr>
Issuances of loans, notes payable and long-term debt<\/td>6,832 <\/td><\/td>4,638 <\/td><\/td><\/tr>
Payments of loans, notes payable and long-term debt<\/td>(4,734)<\/td><\/td>(2,366)<\/td><\/td><\/tr>
Issuances of stock<\/td>437 <\/td><\/td>359 <\/td><\/td><\/tr>
Purchases of stock for treasury<\/td>(874)<\/td><\/td>(1,084)<\/td><\/td><\/tr>
Dividends<\/td>(2,184)<\/td><\/td>(2,089)<\/td><\/td><\/tr>
Other financing activities<\/td>(9)<\/td><\/td>(456)<\/td><\/td><\/tr>
Net Cash Provided by (Used in) Financing Activities<\/td>(532)<\/td><\/td>(998)<\/td><\/td><\/tr>
Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents<\/td>(357)<\/td><\/td>162 <\/td><\/td><\/tr>
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents<\/td><\/td><\/td><\/tr>
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period<\/td>4,221 <\/td><\/td>3,027 <\/td><\/td><\/tr>
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period<\/td>9,692 <\/td><\/td>9,825 <\/td><\/td><\/tr>
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at End of Period<\/td>13,913 <\/td><\/td>12,852 <\/td><\/td><\/tr>
Less: Restricted cash and restricted cash equivalents at end of period<\/td>205 <\/td><\/td>288 <\/td><\/td><\/tr>
Cash and Cash Equivalents at End of Period<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>12,564 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n5\n\n\n\n\n","context_html_without_headers":"\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n, \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n(In millions)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Operating Activities<\/td> <\/td> <\/td><\/tr>
Consolidated net income<\/td>$<\/td>5,586 <\/td><\/td>$<\/td>5,634 <\/td><\/td><\/tr>
Adjustments to reconcile consolidated net income to net cash provided by operating activities: <\/td><\/td><\/td><\/tr>
Depreciation and amortization<\/td>531 <\/td><\/td>567 <\/td><\/td><\/tr>
Stock-based compensation expense<\/td>140 <\/td><\/td>120 <\/td><\/td><\/tr>
Deferred income taxes<\/td>(202)<\/td><\/td>(211)<\/td><\/td><\/tr>
Equity (income) loss - net of dividends<\/td>(274)<\/td><\/td>(467)<\/td><\/td><\/tr>
Foreign currency adjustments<\/td>(87)<\/td><\/td>34 <\/td><\/td><\/tr>
Significant (gains) losses - net<\/td>(1,398)<\/td><\/td>(442)<\/td><\/td><\/tr>
Other operating charges<\/td>2,867 <\/td><\/td>1,375 <\/td><\/td><\/tr>
Other items<\/td>(66)<\/td><\/td>(225)<\/td><\/td><\/tr>
Net change in operating assets and liabilities<\/td>(2,984)<\/td><\/td>(1,756)<\/td><\/td><\/tr>
Net Cash Provided by Operating Activities<\/td>4,113 <\/td><\/td>4,629 <\/td><\/td><\/tr>
Investing Activities<\/td> <\/td> <\/td><\/tr>
Purchases of investments<\/td>(3,827)<\/td><\/td>(2,103)<\/td><\/td><\/tr>
Proceeds from disposals of investments<\/td>2,662 <\/td><\/td>1,608 <\/td><\/td><\/tr>
Acquisitions of businesses, equity method investments and nonmarketable securities<\/td>(25)<\/td><\/td>(43)<\/td><\/td><\/tr>
Proceeds from disposals of businesses, equity method investments and nonmarketable securities<\/td>2,907 <\/td><\/td>320 <\/td><\/td><\/tr>
Purchases of property, plant and equipment<\/td>(792)<\/td><\/td>(615)<\/td><\/td><\/tr>
Proceeds from disposals of property, plant and equipment<\/td>21 <\/td><\/td>38 <\/td><\/td><\/tr>
Collateral (paid) received associated with hedging activities - net<\/td>(76)<\/td><\/td>(15)<\/td><\/td><\/tr>
Other investing activities<\/td>127 <\/td><\/td>44 <\/td><\/td><\/tr>
Net Cash Provided by (Used in) Investing Activities<\/td>997 <\/td><\/td>(766)<\/td><\/td><\/tr>
Financing Activities<\/td><\/td> <\/td><\/tr>
Issuances of loans, notes payable and long-term debt<\/td>6,832 <\/td><\/td>4,638 <\/td><\/td><\/tr>
Payments of loans, notes payable and long-term debt<\/td>(4,734)<\/td><\/td>(2,366)<\/td><\/td><\/tr>
Issuances of stock<\/td>437 <\/td><\/td>359 <\/td><\/td><\/tr>
Purchases of stock for treasury<\/td>(874)<\/td><\/td>(1,084)<\/td><\/td><\/tr>
Dividends<\/td>(2,184)<\/td><\/td>(2,089)<\/td><\/td><\/tr>
Other financing activities<\/td>(9)<\/td><\/td>(456)<\/td><\/td><\/tr>
Net Cash Provided by (Used in) Financing Activities<\/td>(532)<\/td><\/td>(998)<\/td><\/td><\/tr>
Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents<\/td>(357)<\/td><\/td>162 <\/td><\/td><\/tr>
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents<\/td><\/td><\/td><\/tr>
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period<\/td>4,221 <\/td><\/td>3,027 <\/td><\/td><\/tr>
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period<\/td>9,692 <\/td><\/td>9,825 <\/td><\/td><\/tr>
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at End of Period<\/td>13,913 <\/td><\/td>12,852 <\/td><\/td><\/tr>
Less: Restricted cash and restricted cash equivalents at end of period<\/td>205 <\/td><\/td>288 <\/td><\/td><\/tr>
Cash and Cash Equivalents at End of Period<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>12,564 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n5\n\n\n\n\n"} +{"QID":"q_Ra155","Question":"What is the Payables Turnover for Coca-Cola for the six months ended June 28, 2024?","ground_truth_answer":"Payables Turnover = Cost of Goods Sold \/ Average Accounts Payable = $9,047 million \/ (($21,909 million + $15,485 million) \/ 2) = 0.49","question_type":"Ratio","page_number":"2, 4","accession_number":"0000021344-24-000044","item":"Item 1. Financial Statements","context_markdown_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2: \nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------|:-------------------|:-------------|:-----------------|:-------------|:-------------|:-------|:-------|:-------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | June 28,2024 | June 30,2023 | | | | | |\n| 3 | Net Operating Revenues | $ | 12,363 | | $ | 11,972 | | $ | 23,663 | $ | 22,952 |\n| 4 | Cost of goods sold | 4,812 | | 4,912 | | | 9,047 | 9,229 | | | |\n| 5 | Gross Profit | 7,551 | | 7,060 | | | 14,616 | 13,723 | | | |\n| 6 | Selling, general and administrative expenses | 3,549 | | 3,321 | | | 6,900 | 6,506 | | | |\n| 7 | Other operating charges | 1,370 | | 1,338 | | | 2,943 | 1,449 | | | |\n| 8 | Operating Income | 2,632 | | 2,401 | | | 4,773 | 5,768 | | | |\n| 9 | Interest income | 275 | | 224 | | | 521 | 392 | | | |\n| 10 | Interest expense | 418 | | 374 | | | 800 | 746 | | | |\n| 11 | Equity income (loss) - net | 537 | | 538 | | | 891 | 813 | | | |\n| 12 | Other income (loss) - net | 2 | | 91 | | | 1,515 | 706 | | | |\n| 13 | Income Before Income Taxes | 3,028 | | 2,880 | | | 6,900 | 6,933 | | | |\n| 14 | Income taxes | 627 | | 359 | | | 1,314 | 1,299 | | | |\n| 15 | Consolidated Net Income | 2,401 | | 2,521 | | | 5,586 | 5,634 | | | |\n| 16 | Less: Net income (loss) attributable to noncontrolling interests | (10) | | (26) | | | (2) | (20) | | | |\n| 17 | Net Income Attributable to Shareowners of The Coca-Cola Company | $ | 2,411 | | $ | 2,547 | | $ | 5,588 | $ | 5,654 |\n| 18 | Basic Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.30 | $ | 1.31 |\n| 19 | Diluted Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.29 | $ | 1.30 |\n| 20 | Average Shares Outstanding - Basic | 4,309 | | 4,325 | | | 4,309 | 4,325 | | | |\n| 21 | Effect of dilutive securities | 10 | | 16 | | | 12 | 18 | | | |\n| 22 | Average Shares Outstanding - Diluted | 4,319 | | 4,341 | | | 4,321 | 4,343 | | | |\n\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_markdown_without_headers":"\nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------|:-------------------|:-------------|:-----------------|:-------------|:-------------|:-------|:-------|:-------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | June 28,2024 | June 30,2023 | | | | | |\n| 3 | Net Operating Revenues | $ | 12,363 | | $ | 11,972 | | $ | 23,663 | $ | 22,952 |\n| 4 | Cost of goods sold | 4,812 | | 4,912 | | | 9,047 | 9,229 | | | |\n| 5 | Gross Profit | 7,551 | | 7,060 | | | 14,616 | 13,723 | | | |\n| 6 | Selling, general and administrative expenses | 3,549 | | 3,321 | | | 6,900 | 6,506 | | | |\n| 7 | Other operating charges | 1,370 | | 1,338 | | | 2,943 | 1,449 | | | |\n| 8 | Operating Income | 2,632 | | 2,401 | | | 4,773 | 5,768 | | | |\n| 9 | Interest income | 275 | | 224 | | | 521 | 392 | | | |\n| 10 | Interest expense | 418 | | 374 | | | 800 | 746 | | | |\n| 11 | Equity income (loss) - net | 537 | | 538 | | | 891 | 813 | | | |\n| 12 | Other income (loss) - net | 2 | | 91 | | | 1,515 | 706 | | | |\n| 13 | Income Before Income Taxes | 3,028 | | 2,880 | | | 6,900 | 6,933 | | | |\n| 14 | Income taxes | 627 | | 359 | | | 1,314 | 1,299 | | | |\n| 15 | Consolidated Net Income | 2,401 | | 2,521 | | | 5,586 | 5,634 | | | |\n| 16 | Less: Net income (loss) attributable to noncontrolling interests | (10) | | (26) | | | (2) | (20) | | | |\n| 17 | Net Income Attributable to Shareowners of The Coca-Cola Company | $ | 2,411 | | $ | 2,547 | | $ | 5,588 | $ | 5,654 |\n| 18 | Basic Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.30 | $ | 1.31 |\n| 19 | Diluted Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.29 | $ | 1.30 |\n| 20 | Average Shares Outstanding - Basic | 4,309 | | 4,325 | | | 4,309 | 4,325 | | | |\n| 21 | Effect of dilutive securities | 10 | | 16 | | | 12 | 18 | | | |\n| 22 | Average Shares Outstanding - Diluted | 4,319 | | 4,341 | | | 4,321 | 4,343 | | | |\n\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2: \nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Net Operating Revenues<\/td>$<\/td>12,363 <\/td><\/td>$<\/td>11,972 <\/td><\/td><\/td>$<\/td>23,663 <\/td><\/td>$<\/td>22,952 <\/td><\/td><\/tr>
Cost of goods sold<\/td>4,812 <\/td><\/td>4,912 <\/td><\/td><\/td>9,047 <\/td><\/td>9,229 <\/td><\/td><\/tr>
Gross Profit<\/td>7,551 <\/td><\/td>7,060 <\/td><\/td><\/td>14,616 <\/td><\/td>13,723 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td>3,549 <\/td><\/td>3,321 <\/td><\/td><\/td>6,900 <\/td><\/td>6,506 <\/td><\/td><\/tr>
Other operating charges<\/td>1,370 <\/td><\/td>1,338 <\/td><\/td><\/td>2,943 <\/td><\/td>1,449 <\/td><\/td><\/tr>
Operating Income<\/td>2,632 <\/td><\/td>2,401 <\/td><\/td><\/td>4,773 <\/td><\/td>5,768 <\/td><\/td><\/tr>
Interest income<\/td>275 <\/td><\/td>224 <\/td><\/td><\/td>521 <\/td><\/td>392 <\/td><\/td><\/tr>
Interest expense<\/td>418 <\/td><\/td>374 <\/td><\/td><\/td>800 <\/td><\/td>746 <\/td><\/td><\/tr>
Equity income (loss) - net<\/td>537 <\/td><\/td>538 <\/td><\/td><\/td>891 <\/td><\/td>813 <\/td><\/td><\/tr>
Other income (loss) - net<\/td>2 <\/td><\/td>91 <\/td><\/td><\/td>1,515 <\/td><\/td>706 <\/td><\/td><\/tr>
Income Before Income Taxes<\/td>3,028 <\/td><\/td>2,880 <\/td><\/td><\/td>6,900 <\/td><\/td>6,933 <\/td><\/td><\/tr>
Income taxes <\/td>627 <\/td><\/td>359 <\/td><\/td><\/td>1,314 <\/td><\/td>1,299 <\/td><\/td><\/tr>
Consolidated Net Income<\/td>2,401 <\/td><\/td>2,521 <\/td><\/td><\/td>5,586 <\/td><\/td>5,634 <\/td><\/td><\/tr>
Less: Net income (loss) attributable to noncontrolling interests<\/td>(10)<\/td><\/td>(26)<\/td><\/td><\/td>(2)<\/td><\/td>(20)<\/td><\/td><\/tr>
Net Income Attributable to Shareowners of The Coca-Cola Company<\/td>$<\/td>2,411 <\/td><\/td>$<\/td>2,547 <\/td><\/td><\/td>$<\/td>5,588 <\/td><\/td>$<\/td>5,654 <\/td><\/td><\/tr>
Basic Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.30 <\/td><\/td>$<\/td>1.31 <\/td><\/td><\/tr>
Diluted Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.29 <\/td><\/td>$<\/td>1.30 <\/td><\/td><\/tr>
Average Shares Outstanding - Basic<\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/tr>
Effect of dilutive securities<\/td>10 <\/td><\/td>16 <\/td><\/td><\/td>12 <\/td><\/td>18 <\/td><\/td><\/tr>
Average Shares Outstanding - Diluted<\/td>4,319 <\/td><\/td>4,341 <\/td><\/td><\/td>4,321 <\/td><\/td>4,343 <\/td><\/td><\/tr><\/table>\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_without_headers":"\nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Net Operating Revenues<\/td>$<\/td>12,363 <\/td><\/td>$<\/td>11,972 <\/td><\/td><\/td>$<\/td>23,663 <\/td><\/td>$<\/td>22,952 <\/td><\/td><\/tr>
Cost of goods sold<\/td>4,812 <\/td><\/td>4,912 <\/td><\/td><\/td>9,047 <\/td><\/td>9,229 <\/td><\/td><\/tr>
Gross Profit<\/td>7,551 <\/td><\/td>7,060 <\/td><\/td><\/td>14,616 <\/td><\/td>13,723 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td>3,549 <\/td><\/td>3,321 <\/td><\/td><\/td>6,900 <\/td><\/td>6,506 <\/td><\/td><\/tr>
Other operating charges<\/td>1,370 <\/td><\/td>1,338 <\/td><\/td><\/td>2,943 <\/td><\/td>1,449 <\/td><\/td><\/tr>
Operating Income<\/td>2,632 <\/td><\/td>2,401 <\/td><\/td><\/td>4,773 <\/td><\/td>5,768 <\/td><\/td><\/tr>
Interest income<\/td>275 <\/td><\/td>224 <\/td><\/td><\/td>521 <\/td><\/td>392 <\/td><\/td><\/tr>
Interest expense<\/td>418 <\/td><\/td>374 <\/td><\/td><\/td>800 <\/td><\/td>746 <\/td><\/td><\/tr>
Equity income (loss) - net<\/td>537 <\/td><\/td>538 <\/td><\/td><\/td>891 <\/td><\/td>813 <\/td><\/td><\/tr>
Other income (loss) - net<\/td>2 <\/td><\/td>91 <\/td><\/td><\/td>1,515 <\/td><\/td>706 <\/td><\/td><\/tr>
Income Before Income Taxes<\/td>3,028 <\/td><\/td>2,880 <\/td><\/td><\/td>6,900 <\/td><\/td>6,933 <\/td><\/td><\/tr>
Income taxes <\/td>627 <\/td><\/td>359 <\/td><\/td><\/td>1,314 <\/td><\/td>1,299 <\/td><\/td><\/tr>
Consolidated Net Income<\/td>2,401 <\/td><\/td>2,521 <\/td><\/td><\/td>5,586 <\/td><\/td>5,634 <\/td><\/td><\/tr>
Less: Net income (loss) attributable to noncontrolling interests<\/td>(10)<\/td><\/td>(26)<\/td><\/td><\/td>(2)<\/td><\/td>(20)<\/td><\/td><\/tr>
Net Income Attributable to Shareowners of The Coca-Cola Company<\/td>$<\/td>2,411 <\/td><\/td>$<\/td>2,547 <\/td><\/td><\/td>$<\/td>5,588 <\/td><\/td>$<\/td>5,654 <\/td><\/td><\/tr>
Basic Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.30 <\/td><\/td>$<\/td>1.31 <\/td><\/td><\/tr>
Diluted Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.29 <\/td><\/td>$<\/td>1.30 <\/td><\/td><\/tr>
Average Shares Outstanding - Basic<\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/tr>
Effect of dilutive securities<\/td>10 <\/td><\/td>16 <\/td><\/td><\/td>12 <\/td><\/td>18 <\/td><\/td><\/tr>
Average Shares Outstanding - Diluted<\/td>4,319 <\/td><\/td>4,341 <\/td><\/td><\/td>4,321 <\/td><\/td>4,343 <\/td><\/td><\/tr><\/table>\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n"} +{"QID":"q_Ra156","Question":"What is the Days Payable Outstanding (DPO) for Coca-Cola for the six months ended June 28, 2024?","ground_truth_answer":" DPO = (Accounts Payable \/ Cost of Goods Sold) * Number of Days = ((21,909 + 15,485) \/ 2) \/ 9,047 * 180 = 360.00 days","question_type":"Ratio","page_number":"2, 4","accession_number":"0000021344-24-000044","item":"Item 1. Financial Statements","context_markdown_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2: \nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------|:-------------------|:-------------|:-----------------|:-------------|:-------------|:-------|:-------|:-------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | June 28,2024 | June 30,2023 | | | | | |\n| 3 | Net Operating Revenues | $ | 12,363 | | $ | 11,972 | | $ | 23,663 | $ | 22,952 |\n| 4 | Cost of goods sold | 4,812 | | 4,912 | | | 9,047 | 9,229 | | | |\n| 5 | Gross Profit | 7,551 | | 7,060 | | | 14,616 | 13,723 | | | |\n| 6 | Selling, general and administrative expenses | 3,549 | | 3,321 | | | 6,900 | 6,506 | | | |\n| 7 | Other operating charges | 1,370 | | 1,338 | | | 2,943 | 1,449 | | | |\n| 8 | Operating Income | 2,632 | | 2,401 | | | 4,773 | 5,768 | | | |\n| 9 | Interest income | 275 | | 224 | | | 521 | 392 | | | |\n| 10 | Interest expense | 418 | | 374 | | | 800 | 746 | | | |\n| 11 | Equity income (loss) - net | 537 | | 538 | | | 891 | 813 | | | |\n| 12 | Other income (loss) - net | 2 | | 91 | | | 1,515 | 706 | | | |\n| 13 | Income Before Income Taxes | 3,028 | | 2,880 | | | 6,900 | 6,933 | | | |\n| 14 | Income taxes | 627 | | 359 | | | 1,314 | 1,299 | | | |\n| 15 | Consolidated Net Income | 2,401 | | 2,521 | | | 5,586 | 5,634 | | | |\n| 16 | Less: Net income (loss) attributable to noncontrolling interests | (10) | | (26) | | | (2) | (20) | | | |\n| 17 | Net Income Attributable to Shareowners of The Coca-Cola Company | $ | 2,411 | | $ | 2,547 | | $ | 5,588 | $ | 5,654 |\n| 18 | Basic Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.30 | $ | 1.31 |\n| 19 | Diluted Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.29 | $ | 1.30 |\n| 20 | Average Shares Outstanding - Basic | 4,309 | | 4,325 | | | 4,309 | 4,325 | | | |\n| 21 | Effect of dilutive securities | 10 | | 16 | | | 12 | 18 | | | |\n| 22 | Average Shares Outstanding - Diluted | 4,319 | | 4,341 | | | 4,321 | 4,343 | | | |\n\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_markdown_without_headers":"\nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------|:-------------------|:-------------|:-----------------|:-------------|:-------------|:-------|:-------|:-------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | June 28,2024 | June 30,2023 | | | | | |\n| 3 | Net Operating Revenues | $ | 12,363 | | $ | 11,972 | | $ | 23,663 | $ | 22,952 |\n| 4 | Cost of goods sold | 4,812 | | 4,912 | | | 9,047 | 9,229 | | | |\n| 5 | Gross Profit | 7,551 | | 7,060 | | | 14,616 | 13,723 | | | |\n| 6 | Selling, general and administrative expenses | 3,549 | | 3,321 | | | 6,900 | 6,506 | | | |\n| 7 | Other operating charges | 1,370 | | 1,338 | | | 2,943 | 1,449 | | | |\n| 8 | Operating Income | 2,632 | | 2,401 | | | 4,773 | 5,768 | | | |\n| 9 | Interest income | 275 | | 224 | | | 521 | 392 | | | |\n| 10 | Interest expense | 418 | | 374 | | | 800 | 746 | | | |\n| 11 | Equity income (loss) - net | 537 | | 538 | | | 891 | 813 | | | |\n| 12 | Other income (loss) - net | 2 | | 91 | | | 1,515 | 706 | | | |\n| 13 | Income Before Income Taxes | 3,028 | | 2,880 | | | 6,900 | 6,933 | | | |\n| 14 | Income taxes | 627 | | 359 | | | 1,314 | 1,299 | | | |\n| 15 | Consolidated Net Income | 2,401 | | 2,521 | | | 5,586 | 5,634 | | | |\n| 16 | Less: Net income (loss) attributable to noncontrolling interests | (10) | | (26) | | | (2) | (20) | | | |\n| 17 | Net Income Attributable to Shareowners of The Coca-Cola Company | $ | 2,411 | | $ | 2,547 | | $ | 5,588 | $ | 5,654 |\n| 18 | Basic Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.30 | $ | 1.31 |\n| 19 | Diluted Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.29 | $ | 1.30 |\n| 20 | Average Shares Outstanding - Basic | 4,309 | | 4,325 | | | 4,309 | 4,325 | | | |\n| 21 | Effect of dilutive securities | 10 | | 16 | | | 12 | 18 | | | |\n| 22 | Average Shares Outstanding - Diluted | 4,319 | | 4,341 | | | 4,321 | 4,343 | | | |\n\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2: \nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Net Operating Revenues<\/td>$<\/td>12,363 <\/td><\/td>$<\/td>11,972 <\/td><\/td><\/td>$<\/td>23,663 <\/td><\/td>$<\/td>22,952 <\/td><\/td><\/tr>
Cost of goods sold<\/td>4,812 <\/td><\/td>4,912 <\/td><\/td><\/td>9,047 <\/td><\/td>9,229 <\/td><\/td><\/tr>
Gross Profit<\/td>7,551 <\/td><\/td>7,060 <\/td><\/td><\/td>14,616 <\/td><\/td>13,723 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td>3,549 <\/td><\/td>3,321 <\/td><\/td><\/td>6,900 <\/td><\/td>6,506 <\/td><\/td><\/tr>
Other operating charges<\/td>1,370 <\/td><\/td>1,338 <\/td><\/td><\/td>2,943 <\/td><\/td>1,449 <\/td><\/td><\/tr>
Operating Income<\/td>2,632 <\/td><\/td>2,401 <\/td><\/td><\/td>4,773 <\/td><\/td>5,768 <\/td><\/td><\/tr>
Interest income<\/td>275 <\/td><\/td>224 <\/td><\/td><\/td>521 <\/td><\/td>392 <\/td><\/td><\/tr>
Interest expense<\/td>418 <\/td><\/td>374 <\/td><\/td><\/td>800 <\/td><\/td>746 <\/td><\/td><\/tr>
Equity income (loss) - net<\/td>537 <\/td><\/td>538 <\/td><\/td><\/td>891 <\/td><\/td>813 <\/td><\/td><\/tr>
Other income (loss) - net<\/td>2 <\/td><\/td>91 <\/td><\/td><\/td>1,515 <\/td><\/td>706 <\/td><\/td><\/tr>
Income Before Income Taxes<\/td>3,028 <\/td><\/td>2,880 <\/td><\/td><\/td>6,900 <\/td><\/td>6,933 <\/td><\/td><\/tr>
Income taxes <\/td>627 <\/td><\/td>359 <\/td><\/td><\/td>1,314 <\/td><\/td>1,299 <\/td><\/td><\/tr>
Consolidated Net Income<\/td>2,401 <\/td><\/td>2,521 <\/td><\/td><\/td>5,586 <\/td><\/td>5,634 <\/td><\/td><\/tr>
Less: Net income (loss) attributable to noncontrolling interests<\/td>(10)<\/td><\/td>(26)<\/td><\/td><\/td>(2)<\/td><\/td>(20)<\/td><\/td><\/tr>
Net Income Attributable to Shareowners of The Coca-Cola Company<\/td>$<\/td>2,411 <\/td><\/td>$<\/td>2,547 <\/td><\/td><\/td>$<\/td>5,588 <\/td><\/td>$<\/td>5,654 <\/td><\/td><\/tr>
Basic Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.30 <\/td><\/td>$<\/td>1.31 <\/td><\/td><\/tr>
Diluted Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.29 <\/td><\/td>$<\/td>1.30 <\/td><\/td><\/tr>
Average Shares Outstanding - Basic<\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/tr>
Effect of dilutive securities<\/td>10 <\/td><\/td>16 <\/td><\/td><\/td>12 <\/td><\/td>18 <\/td><\/td><\/tr>
Average Shares Outstanding - Diluted<\/td>4,319 <\/td><\/td>4,341 <\/td><\/td><\/td>4,321 <\/td><\/td>4,343 <\/td><\/td><\/tr><\/table>\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_without_headers":"\nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Net Operating Revenues<\/td>$<\/td>12,363 <\/td><\/td>$<\/td>11,972 <\/td><\/td><\/td>$<\/td>23,663 <\/td><\/td>$<\/td>22,952 <\/td><\/td><\/tr>
Cost of goods sold<\/td>4,812 <\/td><\/td>4,912 <\/td><\/td><\/td>9,047 <\/td><\/td>9,229 <\/td><\/td><\/tr>
Gross Profit<\/td>7,551 <\/td><\/td>7,060 <\/td><\/td><\/td>14,616 <\/td><\/td>13,723 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td>3,549 <\/td><\/td>3,321 <\/td><\/td><\/td>6,900 <\/td><\/td>6,506 <\/td><\/td><\/tr>
Other operating charges<\/td>1,370 <\/td><\/td>1,338 <\/td><\/td><\/td>2,943 <\/td><\/td>1,449 <\/td><\/td><\/tr>
Operating Income<\/td>2,632 <\/td><\/td>2,401 <\/td><\/td><\/td>4,773 <\/td><\/td>5,768 <\/td><\/td><\/tr>
Interest income<\/td>275 <\/td><\/td>224 <\/td><\/td><\/td>521 <\/td><\/td>392 <\/td><\/td><\/tr>
Interest expense<\/td>418 <\/td><\/td>374 <\/td><\/td><\/td>800 <\/td><\/td>746 <\/td><\/td><\/tr>
Equity income (loss) - net<\/td>537 <\/td><\/td>538 <\/td><\/td><\/td>891 <\/td><\/td>813 <\/td><\/td><\/tr>
Other income (loss) - net<\/td>2 <\/td><\/td>91 <\/td><\/td><\/td>1,515 <\/td><\/td>706 <\/td><\/td><\/tr>
Income Before Income Taxes<\/td>3,028 <\/td><\/td>2,880 <\/td><\/td><\/td>6,900 <\/td><\/td>6,933 <\/td><\/td><\/tr>
Income taxes <\/td>627 <\/td><\/td>359 <\/td><\/td><\/td>1,314 <\/td><\/td>1,299 <\/td><\/td><\/tr>
Consolidated Net Income<\/td>2,401 <\/td><\/td>2,521 <\/td><\/td><\/td>5,586 <\/td><\/td>5,634 <\/td><\/td><\/tr>
Less: Net income (loss) attributable to noncontrolling interests<\/td>(10)<\/td><\/td>(26)<\/td><\/td><\/td>(2)<\/td><\/td>(20)<\/td><\/td><\/tr>
Net Income Attributable to Shareowners of The Coca-Cola Company<\/td>$<\/td>2,411 <\/td><\/td>$<\/td>2,547 <\/td><\/td><\/td>$<\/td>5,588 <\/td><\/td>$<\/td>5,654 <\/td><\/td><\/tr>
Basic Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.30 <\/td><\/td>$<\/td>1.31 <\/td><\/td><\/tr>
Diluted Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.29 <\/td><\/td>$<\/td>1.30 <\/td><\/td><\/tr>
Average Shares Outstanding - Basic<\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/tr>
Effect of dilutive securities<\/td>10 <\/td><\/td>16 <\/td><\/td><\/td>12 <\/td><\/td>18 <\/td><\/td><\/tr>
Average Shares Outstanding - Diluted<\/td>4,319 <\/td><\/td>4,341 <\/td><\/td><\/td>4,321 <\/td><\/td>4,343 <\/td><\/td><\/tr><\/table>\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n"} +{"QID":"q_Ra157","Question":" How does Coca-Cola's Inventory Turnover for the six months ended June 28, 2024, compare to the same period in 2023?","ground_truth_answer":"Inventory Turnover for 2024 = 2.00, Inventory Turnover for 2023 = 9,229 \/ ((4,424 + 4,424) \/ 2) = 2.09. The Inventory Turnover decreased from 2.09 in 2023 to 2.00 in 2024.","question_type":"Ratio","page_number":"2, 4","accession_number":"0000021344-24-000044","item":"Item 1. Financial Statements","context_markdown_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2: \nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------|:-------------------|:-------------|:-----------------|:-------------|:-------------|:-------|:-------|:-------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | June 28,2024 | June 30,2023 | | | | | |\n| 3 | Net Operating Revenues | $ | 12,363 | | $ | 11,972 | | $ | 23,663 | $ | 22,952 |\n| 4 | Cost of goods sold | 4,812 | | 4,912 | | | 9,047 | 9,229 | | | |\n| 5 | Gross Profit | 7,551 | | 7,060 | | | 14,616 | 13,723 | | | |\n| 6 | Selling, general and administrative expenses | 3,549 | | 3,321 | | | 6,900 | 6,506 | | | |\n| 7 | Other operating charges | 1,370 | | 1,338 | | | 2,943 | 1,449 | | | |\n| 8 | Operating Income | 2,632 | | 2,401 | | | 4,773 | 5,768 | | | |\n| 9 | Interest income | 275 | | 224 | | | 521 | 392 | | | |\n| 10 | Interest expense | 418 | | 374 | | | 800 | 746 | | | |\n| 11 | Equity income (loss) - net | 537 | | 538 | | | 891 | 813 | | | |\n| 12 | Other income (loss) - net | 2 | | 91 | | | 1,515 | 706 | | | |\n| 13 | Income Before Income Taxes | 3,028 | | 2,880 | | | 6,900 | 6,933 | | | |\n| 14 | Income taxes | 627 | | 359 | | | 1,314 | 1,299 | | | |\n| 15 | Consolidated Net Income | 2,401 | | 2,521 | | | 5,586 | 5,634 | | | |\n| 16 | Less: Net income (loss) attributable to noncontrolling interests | (10) | | (26) | | | (2) | (20) | | | |\n| 17 | Net Income Attributable to Shareowners of The Coca-Cola Company | $ | 2,411 | | $ | 2,547 | | $ | 5,588 | $ | 5,654 |\n| 18 | Basic Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.30 | $ | 1.31 |\n| 19 | Diluted Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.29 | $ | 1.30 |\n| 20 | Average Shares Outstanding - Basic | 4,309 | | 4,325 | | | 4,309 | 4,325 | | | |\n| 21 | Effect of dilutive securities | 10 | | 16 | | | 12 | 18 | | | |\n| 22 | Average Shares Outstanding - Diluted | 4,319 | | 4,341 | | | 4,321 | 4,343 | | | |\n\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_markdown_without_headers":"\nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------|:-------------------|:-------------|:-----------------|:-------------|:-------------|:-------|:-------|:-------|:---|:-------|\n| 1 | | Three Months Ended | | Six Months Ended | | | | | | | |\n| 2 | | June 28,2024 | June 30,2023 | | June 28,2024 | June 30,2023 | | | | | |\n| 3 | Net Operating Revenues | $ | 12,363 | | $ | 11,972 | | $ | 23,663 | $ | 22,952 |\n| 4 | Cost of goods sold | 4,812 | | 4,912 | | | 9,047 | 9,229 | | | |\n| 5 | Gross Profit | 7,551 | | 7,060 | | | 14,616 | 13,723 | | | |\n| 6 | Selling, general and administrative expenses | 3,549 | | 3,321 | | | 6,900 | 6,506 | | | |\n| 7 | Other operating charges | 1,370 | | 1,338 | | | 2,943 | 1,449 | | | |\n| 8 | Operating Income | 2,632 | | 2,401 | | | 4,773 | 5,768 | | | |\n| 9 | Interest income | 275 | | 224 | | | 521 | 392 | | | |\n| 10 | Interest expense | 418 | | 374 | | | 800 | 746 | | | |\n| 11 | Equity income (loss) - net | 537 | | 538 | | | 891 | 813 | | | |\n| 12 | Other income (loss) - net | 2 | | 91 | | | 1,515 | 706 | | | |\n| 13 | Income Before Income Taxes | 3,028 | | 2,880 | | | 6,900 | 6,933 | | | |\n| 14 | Income taxes | 627 | | 359 | | | 1,314 | 1,299 | | | |\n| 15 | Consolidated Net Income | 2,401 | | 2,521 | | | 5,586 | 5,634 | | | |\n| 16 | Less: Net income (loss) attributable to noncontrolling interests | (10) | | (26) | | | (2) | (20) | | | |\n| 17 | Net Income Attributable to Shareowners of The Coca-Cola Company | $ | 2,411 | | $ | 2,547 | | $ | 5,588 | $ | 5,654 |\n| 18 | Basic Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.30 | $ | 1.31 |\n| 19 | Diluted Net Income Per Share1 | $ | 0.56 | | $ | 0.59 | | $ | 1.29 | $ | 1.30 |\n| 20 | Average Shares Outstanding - Basic | 4,309 | | 4,325 | | | 4,309 | 4,325 | | | |\n| 21 | Effect of dilutive securities | 10 | | 16 | | | 12 | 18 | | | |\n| 22 | Average Shares Outstanding - Diluted | 4,319 | | 4,341 | | | 4,321 | 4,343 | | | |\n\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n| | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------|:-------------|:-----------------|:---------|:---|:-------|\n| 1 | | June 28,2024 | December 31,2023 | | | |\n| 2 | ASSETS | | | | | |\n| 3 | Current Assets | | | | | |\n| 4 | Cash and cash equivalents | $ | 13,708 | | $ | 9,366 |\n| 5 | Short-term investments | 3,691 | | 2,997 | | |\n| 6 | Total Cash, Cash Equivalents and Short-Term Investments | 17,399 | | 12,363 | | |\n| 7 | Marketable securities | 1,594 | | 1,300 | | |\n| 8 | Trade accounts receivable, less allowances of $502 and $502, respectively | 4,545 | | 3,410 | | |\n| 9 | Inventories | 4,763 | | 4,424 | | |\n| 10 | Prepaid expenses and other current assets | 3,298 | | 5,235 | | |\n| 11 | Total Current Assets | 31,599 | | 26,732 | | |\n| 12 | Equity method investments | 18,940 | | 19,671 | | |\n| 13 | Other investments | 167 | | 118 | | |\n| 14 | Other noncurrent assets | 7,274 | | 7,162 | | |\n| 15 | Deferred income tax assets | 1,409 | | 1,561 | | |\n| 16 | Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively | 9,508 | | 9,236 | | |\n| 17 | Trademarks with indefinite lives | 13,510 | | 14,349 | | |\n| 18 | Goodwill | 18,324 | | 18,358 | | |\n| 19 | Other intangible assets | 471 | | 516 | | |\n| 20 | Total Assets | $ | 101,202 | | $ | 97,703 |\n| 21 | LIABILITIES AND EQUITY | | | | | |\n| 22 | Current Liabilities | | | | | |\n| 23 | Accounts payable and accrued expenses | $ | 21,909 | | $ | 15,485 |\n| 24 | Loans and notes payable | 3,793 | | 4,557 | | |\n| 25 | Current maturities of long-term debt | 1,939 | | 1,960 | | |\n| 26 | Accrued income taxes | 1,622 | | 1,569 | | |\n| 27 | Total Current Liabilities | 29,263 | | 23,571 | | |\n| 28 | Long-term debt | 38,085 | | 35,547 | | |\n| 29 | Other noncurrent liabilities | 4,077 | | 8,466 | | |\n| 30 | Deferred income tax liabilities | 2,366 | | 2,639 | | |\n| 31 | The Coca-Cola Company Shareowners' Equity | | | | | |\n| 32 | Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares | 1,760 | | 1,760 | | |\n| 33 | Capital surplus | 19,468 | | 19,209 | | |\n| 34 | Reinvested earnings | 75,189 | | 73,782 | | |\n| 35 | Accumulated other comprehensive income (loss) | (15,458) | | (14,275) | | |\n| 36 | Treasury stock, at cost - 2,731 and 2,732 shares, respectively | (55,106) | | (54,535) | | |\n| 37 | Equity Attributable to Shareowners of The Coca-Cola Company | 25,853 | | 25,941 | | |\n| 38 | Equity attributable to noncontrolling interests | 1,558 | | 1,539 | | |\n| 39 | Total Equity | 27,411 | | 27,480 | | |\n| 40 | Total Liabilities and Equity | $ | 101,202 | | $ | 97,703 |\n\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_with_headers":"COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2: \nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Net Operating Revenues<\/td>$<\/td>12,363 <\/td><\/td>$<\/td>11,972 <\/td><\/td><\/td>$<\/td>23,663 <\/td><\/td>$<\/td>22,952 <\/td><\/td><\/tr>
Cost of goods sold<\/td>4,812 <\/td><\/td>4,912 <\/td><\/td><\/td>9,047 <\/td><\/td>9,229 <\/td><\/td><\/tr>
Gross Profit<\/td>7,551 <\/td><\/td>7,060 <\/td><\/td><\/td>14,616 <\/td><\/td>13,723 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td>3,549 <\/td><\/td>3,321 <\/td><\/td><\/td>6,900 <\/td><\/td>6,506 <\/td><\/td><\/tr>
Other operating charges<\/td>1,370 <\/td><\/td>1,338 <\/td><\/td><\/td>2,943 <\/td><\/td>1,449 <\/td><\/td><\/tr>
Operating Income<\/td>2,632 <\/td><\/td>2,401 <\/td><\/td><\/td>4,773 <\/td><\/td>5,768 <\/td><\/td><\/tr>
Interest income<\/td>275 <\/td><\/td>224 <\/td><\/td><\/td>521 <\/td><\/td>392 <\/td><\/td><\/tr>
Interest expense<\/td>418 <\/td><\/td>374 <\/td><\/td><\/td>800 <\/td><\/td>746 <\/td><\/td><\/tr>
Equity income (loss) - net<\/td>537 <\/td><\/td>538 <\/td><\/td><\/td>891 <\/td><\/td>813 <\/td><\/td><\/tr>
Other income (loss) - net<\/td>2 <\/td><\/td>91 <\/td><\/td><\/td>1,515 <\/td><\/td>706 <\/td><\/td><\/tr>
Income Before Income Taxes<\/td>3,028 <\/td><\/td>2,880 <\/td><\/td><\/td>6,900 <\/td><\/td>6,933 <\/td><\/td><\/tr>
Income taxes <\/td>627 <\/td><\/td>359 <\/td><\/td><\/td>1,314 <\/td><\/td>1,299 <\/td><\/td><\/tr>
Consolidated Net Income<\/td>2,401 <\/td><\/td>2,521 <\/td><\/td><\/td>5,586 <\/td><\/td>5,634 <\/td><\/td><\/tr>
Less: Net income (loss) attributable to noncontrolling interests<\/td>(10)<\/td><\/td>(26)<\/td><\/td><\/td>(2)<\/td><\/td>(20)<\/td><\/td><\/tr>
Net Income Attributable to Shareowners of The Coca-Cola Company<\/td>$<\/td>2,411 <\/td><\/td>$<\/td>2,547 <\/td><\/td><\/td>$<\/td>5,588 <\/td><\/td>$<\/td>5,654 <\/td><\/td><\/tr>
Basic Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.30 <\/td><\/td>$<\/td>1.31 <\/td><\/td><\/tr>
Diluted Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.29 <\/td><\/td>$<\/td>1.30 <\/td><\/td><\/tr>
Average Shares Outstanding - Basic<\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/tr>
Effect of dilutive securities<\/td>10 <\/td><\/td>16 <\/td><\/td><\/td>12 <\/td><\/td>18 <\/td><\/td><\/tr>
Average Shares Outstanding - Diluted<\/td>4,319 <\/td><\/td>4,341 <\/td><\/td><\/td>4,321 <\/td><\/td>4,343 <\/td><\/td><\/tr><\/table>\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4: \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n","context_html_without_headers":"\nItem 1. Financial Statements\n\n\nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(In millions except per share data)\n\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Three Months Ended<\/td><\/td>Six Months Ended<\/td><\/tr>
<\/td>June 28,2024<\/td>June 30,2023<\/td><\/td>June 28,2024<\/td>June 30,2023<\/td><\/tr>
Net Operating Revenues<\/td>$<\/td>12,363 <\/td><\/td>$<\/td>11,972 <\/td><\/td><\/td>$<\/td>23,663 <\/td><\/td>$<\/td>22,952 <\/td><\/td><\/tr>
Cost of goods sold<\/td>4,812 <\/td><\/td>4,912 <\/td><\/td><\/td>9,047 <\/td><\/td>9,229 <\/td><\/td><\/tr>
Gross Profit<\/td>7,551 <\/td><\/td>7,060 <\/td><\/td><\/td>14,616 <\/td><\/td>13,723 <\/td><\/td><\/tr>
Selling, general and administrative expenses<\/td>3,549 <\/td><\/td>3,321 <\/td><\/td><\/td>6,900 <\/td><\/td>6,506 <\/td><\/td><\/tr>
Other operating charges<\/td>1,370 <\/td><\/td>1,338 <\/td><\/td><\/td>2,943 <\/td><\/td>1,449 <\/td><\/td><\/tr>
Operating Income<\/td>2,632 <\/td><\/td>2,401 <\/td><\/td><\/td>4,773 <\/td><\/td>5,768 <\/td><\/td><\/tr>
Interest income<\/td>275 <\/td><\/td>224 <\/td><\/td><\/td>521 <\/td><\/td>392 <\/td><\/td><\/tr>
Interest expense<\/td>418 <\/td><\/td>374 <\/td><\/td><\/td>800 <\/td><\/td>746 <\/td><\/td><\/tr>
Equity income (loss) - net<\/td>537 <\/td><\/td>538 <\/td><\/td><\/td>891 <\/td><\/td>813 <\/td><\/td><\/tr>
Other income (loss) - net<\/td>2 <\/td><\/td>91 <\/td><\/td><\/td>1,515 <\/td><\/td>706 <\/td><\/td><\/tr>
Income Before Income Taxes<\/td>3,028 <\/td><\/td>2,880 <\/td><\/td><\/td>6,900 <\/td><\/td>6,933 <\/td><\/td><\/tr>
Income taxes <\/td>627 <\/td><\/td>359 <\/td><\/td><\/td>1,314 <\/td><\/td>1,299 <\/td><\/td><\/tr>
Consolidated Net Income<\/td>2,401 <\/td><\/td>2,521 <\/td><\/td><\/td>5,586 <\/td><\/td>5,634 <\/td><\/td><\/tr>
Less: Net income (loss) attributable to noncontrolling interests<\/td>(10)<\/td><\/td>(26)<\/td><\/td><\/td>(2)<\/td><\/td>(20)<\/td><\/td><\/tr>
Net Income Attributable to Shareowners of The Coca-Cola Company<\/td>$<\/td>2,411 <\/td><\/td>$<\/td>2,547 <\/td><\/td><\/td>$<\/td>5,588 <\/td><\/td>$<\/td>5,654 <\/td><\/td><\/tr>
Basic Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.30 <\/td><\/td>$<\/td>1.31 <\/td><\/td><\/tr>
Diluted Net Income Per Share1<\/td>$<\/td>0.56 <\/td><\/td>$<\/td>0.59 <\/td><\/td><\/td>$<\/td>1.29 <\/td><\/td>$<\/td>1.30 <\/td><\/td><\/tr>
Average Shares Outstanding - Basic<\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/td>4,309 <\/td><\/td>4,325 <\/td><\/td><\/tr>
Effect of dilutive securities<\/td>10 <\/td><\/td>16 <\/td><\/td><\/td>12 <\/td><\/td>18 <\/td><\/td><\/tr>
Average Shares Outstanding - Diluted<\/td>4,319 <\/td><\/td>4,341 <\/td><\/td><\/td>4,321 <\/td><\/td>4,343 <\/td><\/td><\/tr><\/table>\n1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.\n\nRefer to Notes to Consolidated Financial Statements.\n\n2\n\n\n\n\n, \nTHE COCA-COLA COMPANY AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n(In millions except par value)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>June 28,2024<\/td>December 31,2023<\/td><\/tr>
ASSETS<\/td><\/tr>
Current Assets<\/td><\/td> <\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>13,708 <\/td><\/td>$<\/td>9,366 <\/td><\/td><\/tr>
Short-term investments<\/td>3,691 <\/td><\/td>2,997 <\/td><\/td><\/tr>
Total Cash, Cash Equivalents and Short-Term Investments<\/td>17,399 <\/td><\/td>12,363 <\/td><\/td><\/tr>
Marketable securities<\/td>1,594 <\/td><\/td>1,300 <\/td><\/td><\/tr>
Trade accounts receivable, less allowances of $502 and $502, respectively<\/td>4,545 <\/td><\/td>3,410 <\/td><\/td><\/tr>
Inventories<\/td>4,763 <\/td><\/td>4,424 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,298 <\/td><\/td>5,235 <\/td><\/td><\/tr>
Total Current Assets<\/td>31,599 <\/td><\/td>26,732 <\/td><\/td><\/tr>
Equity method investments<\/td>18,940 <\/td><\/td>19,671 <\/td><\/td><\/tr>
Other investments<\/td>167 <\/td><\/td>118 <\/td><\/td><\/tr>
Other noncurrent assets<\/td>7,274 <\/td><\/td>7,162 <\/td><\/td><\/tr>
Deferred income tax assets<\/td>1,409 <\/td><\/td>1,561 <\/td><\/td><\/tr>
Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively<\/td>9,508 <\/td><\/td>9,236 <\/td><\/td><\/tr>
Trademarks with indefinite lives<\/td>13,510 <\/td><\/td>14,349 <\/td><\/td><\/tr>
Goodwill<\/td>18,324 <\/td><\/td>18,358 <\/td><\/td><\/tr>
Other intangible assets<\/td>471 <\/td><\/td>516 <\/td><\/td><\/tr>
Total Assets<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr>
LIABILITIES AND EQUITY<\/td><\/tr>
Current Liabilities<\/td> <\/td> <\/td><\/tr>
Accounts payable and accrued expenses<\/td>$<\/td>21,909 <\/td><\/td>$<\/td>15,485 <\/td><\/td><\/tr>
Loans and notes payable<\/td>3,793 <\/td><\/td>4,557 <\/td><\/td><\/tr>
Current maturities of long-term debt<\/td>1,939 <\/td><\/td>1,960 <\/td><\/td><\/tr>
Accrued income taxes<\/td>1,622 <\/td><\/td>1,569 <\/td><\/td><\/tr>
Total Current Liabilities<\/td>29,263 <\/td><\/td>23,571 <\/td><\/td><\/tr>
Long-term debt<\/td>38,085 <\/td><\/td>35,547 <\/td><\/td><\/tr>
Other noncurrent liabilities<\/td>4,077 <\/td><\/td>8,466 <\/td><\/td><\/tr>
Deferred income tax liabilities<\/td>2,366 <\/td><\/td>2,639 <\/td><\/td><\/tr>
The Coca-Cola Company Shareowners' Equity<\/td> <\/td> <\/td><\/tr>
Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares<\/td>1,760 <\/td><\/td>1,760 <\/td><\/td><\/tr>
Capital surplus<\/td>19,468 <\/td><\/td>19,209 <\/td><\/td><\/tr>
Reinvested earnings<\/td>75,189 <\/td><\/td>73,782 <\/td><\/td><\/tr>
Accumulated other comprehensive income (loss)<\/td>(15,458)<\/td><\/td>(14,275)<\/td><\/td><\/tr>
Treasury stock, at cost - 2,731 and 2,732 shares, respectively<\/td>(55,106)<\/td><\/td>(54,535)<\/td><\/td><\/tr>
Equity Attributable to Shareowners of The Coca-Cola Company<\/td>25,853 <\/td><\/td>25,941 <\/td><\/td><\/tr>
Equity attributable to noncontrolling interests<\/td>1,558 <\/td><\/td>1,539 <\/td><\/td><\/tr>
Total Equity<\/td>27,411 <\/td><\/td>27,480 <\/td><\/td><\/tr>
Total Liabilities and Equity<\/td>$<\/td>101,202 <\/td><\/td>$<\/td>97,703 <\/td><\/td><\/tr><\/table>\nRefer to Notes to Consolidated Financial Statements.\n\n4\n\n\n\n\n"} +{"QID":"q_Ra158","Question":"How much did Tesla's net income increase from 2022 to 2023?","ground_truth_answer":"Tesla's net income increased from $12,587 million in 2022 to $14,974 million in 2023, which is an increase of approximately 18.95%.","question_type":"Ratio","page_number":50,"accession_number":"0001628280-24-002390","item":"ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA","context_markdown_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 50: Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------------------------|:------------------------|:-------|:------|:-------|:------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Revenues | | | | | | | | | |\n| 4 | Automotive sales | $ | 78,509 | | | $ | 67,210 | | $ | 44,125 |\n| 5 | Automotive regulatory credits | 1,790 | | | 1,776 | | | 1,465 | | |\n| 6 | Automotive leasing | 2,120 | | | 2,476 | | | 1,642 | | |\n| 7 | Total automotive revenues | 82,419 | | | 71,462 | | | 47,232 | | |\n| 8 | Energy generation and storage | 6,035 | | | 3,909 | | | 2,789 | | |\n| 9 | Services and other | 8,319 | | | 6,091 | | | 3,802 | | |\n| 10 | Total revenues | 96,773 | | | 81,462 | | | 53,823 | | |\n| 11 | Cost of revenues | | | | | | | | | |\n| 12 | Automotive sales | 65,121 | | | 49,599 | | | 32,415 | | |\n| 13 | Automotive leasing | 1,268 | | | 1,509 | | | 978 | | |\n| 14 | Total automotive cost of revenues | 66,389 | | | 51,108 | | | 33,393 | | |\n| 15 | Energy generation and storage | 4,894 | | | 3,621 | | | 2,918 | | |\n| 16 | Services and other | 7,830 | | | 5,880 | | | 3,906 | | |\n| 17 | Total cost of revenues | 79,113 | | | 60,609 | | | 40,217 | | |\n| 18 | Gross profit | 17,660 | | | 20,853 | | | 13,606 | | |\n| 19 | Operating expenses | | | | | | | | | |\n| 20 | Research and development | 3,969 | | | 3,075 | | | 2,593 | | |\n| 21 | Selling, general and administrative | 4,800 | | | 3,946 | | | 4,517 | | |\n| 22 | Restructuring and other | - | | | 176 | | | (27) | | |\n| 23 | Total operating expenses | 8,769 | | | 7,197 | | | 7,083 | | |\n| 24 | Income from operations | 8,891 | | | 13,656 | | | 6,523 | | |\n| 25 | Interest income | 1,066 | | | 297 | | | 56 | | |\n| 26 | Interest expense | (156) | | | (191) | | | (371) | | |\n| 27 | Other income (expense), net | 172 | | | (43) | | | 135 | | |\n| 28 | Income before income taxes | 9,973 | | | 13,719 | | | 6,343 | | |\n| 29 | (Benefit from) provision for income taxes | (5,001) | | | 1,132 | | | 699 | | |\n| 30 | Net income | 14,974 | | | 12,587 | | | 5,644 | | |\n| 31 | Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries | (23) | | | 31 | | | 125 | | |\n| 32 | Net income attributable to common stockholders | $ | 14,997 | | | $ | 12,556 | | $ | 5,519 |\n| 34 | Net income per share of common stock attributable to common stockholders | | | | | | | | | |\n| 35 | Basic | $ | 4.73 | | | $ | 4.02 | | $ | 1.87 |\n| 36 | Diluted | $ | 4.30 | | | $ | 3.62 | | $ | 1.63 |\n| 37 | Weighted average shares used in computing net income per share of common stock | | | | | | | | | |\n| 38 | Basic | 3,174 | | 3,130 | | 2,959 | | | | |\n| 39 | Diluted | 3,485 | | 3,475 | | 3,386 | | | | |\nThe accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_markdown_without_headers":"Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------------------------|:------------------------|:-------|:------|:-------|:------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Revenues | | | | | | | | | |\n| 4 | Automotive sales | $ | 78,509 | | | $ | 67,210 | | $ | 44,125 |\n| 5 | Automotive regulatory credits | 1,790 | | | 1,776 | | | 1,465 | | |\n| 6 | Automotive leasing | 2,120 | | | 2,476 | | | 1,642 | | |\n| 7 | Total automotive revenues | 82,419 | | | 71,462 | | | 47,232 | | |\n| 8 | Energy generation and storage | 6,035 | | | 3,909 | | | 2,789 | | |\n| 9 | Services and other | 8,319 | | | 6,091 | | | 3,802 | | |\n| 10 | Total revenues | 96,773 | | | 81,462 | | | 53,823 | | |\n| 11 | Cost of revenues | | | | | | | | | |\n| 12 | Automotive sales | 65,121 | | | 49,599 | | | 32,415 | | |\n| 13 | Automotive leasing | 1,268 | | | 1,509 | | | 978 | | |\n| 14 | Total automotive cost of revenues | 66,389 | | | 51,108 | | | 33,393 | | |\n| 15 | Energy generation and storage | 4,894 | | | 3,621 | | | 2,918 | | |\n| 16 | Services and other | 7,830 | | | 5,880 | | | 3,906 | | |\n| 17 | Total cost of revenues | 79,113 | | | 60,609 | | | 40,217 | | |\n| 18 | Gross profit | 17,660 | | | 20,853 | | | 13,606 | | |\n| 19 | Operating expenses | | | | | | | | | |\n| 20 | Research and development | 3,969 | | | 3,075 | | | 2,593 | | |\n| 21 | Selling, general and administrative | 4,800 | | | 3,946 | | | 4,517 | | |\n| 22 | Restructuring and other | - | | | 176 | | | (27) | | |\n| 23 | Total operating expenses | 8,769 | | | 7,197 | | | 7,083 | | |\n| 24 | Income from operations | 8,891 | | | 13,656 | | | 6,523 | | |\n| 25 | Interest income | 1,066 | | | 297 | | | 56 | | |\n| 26 | Interest expense | (156) | | | (191) | | | (371) | | |\n| 27 | Other income (expense), net | 172 | | | (43) | | | 135 | | |\n| 28 | Income before income taxes | 9,973 | | | 13,719 | | | 6,343 | | |\n| 29 | (Benefit from) provision for income taxes | (5,001) | | | 1,132 | | | 699 | | |\n| 30 | Net income | 14,974 | | | 12,587 | | | 5,644 | | |\n| 31 | Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries | (23) | | | 31 | | | 125 | | |\n| 32 | Net income attributable to common stockholders | $ | 14,997 | | | $ | 12,556 | | $ | 5,519 |\n| 34 | Net income per share of common stock attributable to common stockholders | | | | | | | | | |\n| 35 | Basic | $ | 4.73 | | | $ | 4.02 | | $ | 1.87 |\n| 36 | Diluted | $ | 4.30 | | | $ | 3.62 | | $ | 1.63 |\n| 37 | Weighted average shares used in computing net income per share of common stock | | | | | | | | | |\n| 38 | Basic | 3,174 | | 3,130 | | 2,959 | | | | |\n| 39 | Diluted | 3,485 | | 3,475 | | 3,386 | | | | |\nThe accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_html_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 50: Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>$<\/td>78,509 <\/td><\/td><\/td>$<\/td>67,210 <\/td><\/td><\/td>$<\/td>44,125 <\/td><\/td><\/tr>
Automotive regulatory credits<\/td>1,790 <\/td><\/td><\/td>1,776 <\/td><\/td><\/td>1,465 <\/td><\/td><\/tr>
Automotive leasing<\/td>2,120 <\/td><\/td><\/td>2,476 <\/td><\/td><\/td>1,642 <\/td><\/td><\/tr>
Total automotive revenues<\/td>82,419 <\/td><\/td><\/td>71,462 <\/td><\/td><\/td>47,232 <\/td><\/td><\/tr>
Energy generation and storage<\/td>6,035 <\/td><\/td><\/td>3,909 <\/td><\/td><\/td>2,789 <\/td><\/td><\/tr>
Services and other<\/td>8,319 <\/td><\/td><\/td>6,091 <\/td><\/td><\/td>3,802 <\/td><\/td><\/tr>
Total revenues<\/td>96,773 <\/td><\/td><\/td>81,462 <\/td><\/td><\/td>53,823 <\/td><\/td><\/tr>
Cost of revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>65,121 <\/td><\/td><\/td>49,599 <\/td><\/td><\/td>32,415 <\/td><\/td><\/tr>
Automotive leasing<\/td>1,268 <\/td><\/td><\/td>1,509 <\/td><\/td><\/td>978 <\/td><\/td><\/tr>
Total automotive cost of revenues<\/td>66,389 <\/td><\/td><\/td>51,108 <\/td><\/td><\/td>33,393 <\/td><\/td><\/tr>
Energy generation and storage<\/td>4,894 <\/td><\/td><\/td>3,621 <\/td><\/td><\/td>2,918 <\/td><\/td><\/tr>
Services and other<\/td>7,830 <\/td><\/td><\/td>5,880 <\/td><\/td><\/td>3,906 <\/td><\/td><\/tr>
Total cost of revenues<\/td>79,113 <\/td><\/td><\/td>60,609 <\/td><\/td><\/td>40,217 <\/td><\/td><\/tr>
Gross profit<\/td>17,660 <\/td><\/td><\/td>20,853 <\/td><\/td><\/td>13,606 <\/td><\/td><\/tr>
Operating expenses<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>3,969 <\/td><\/td><\/td>3,075 <\/td><\/td><\/td>2,593 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>4,800 <\/td><\/td><\/td>3,946 <\/td><\/td><\/td>4,517 <\/td><\/td><\/tr>
Restructuring and other<\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>(27)<\/td><\/td><\/tr>
Total operating expenses<\/td>8,769 <\/td><\/td><\/td>7,197 <\/td><\/td><\/td>7,083 <\/td><\/td><\/tr>
Income from operations<\/td>8,891 <\/td><\/td><\/td>13,656 <\/td><\/td><\/td>6,523 <\/td><\/td><\/tr>
Interest income<\/td>1,066 <\/td><\/td><\/td>297 <\/td><\/td><\/td>56 <\/td><\/td><\/tr>
Interest expense<\/td>(156)<\/td><\/td><\/td>(191)<\/td><\/td><\/td>(371)<\/td><\/td><\/tr>
Other income (expense), net<\/td>172 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>135 <\/td><\/td><\/tr>
Income before income taxes<\/td>9,973 <\/td><\/td><\/td>13,719 <\/td><\/td><\/td>6,343 <\/td><\/td><\/tr>
(Benefit from) provision for income taxes<\/td>(5,001)<\/td><\/td><\/td>1,132 <\/td><\/td><\/td>699 <\/td><\/td><\/tr>
Net income<\/td>14,974 <\/td><\/td><\/td>12,587 <\/td><\/td><\/td>5,644 <\/td><\/td><\/tr>
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries<\/td>(23)<\/td><\/td><\/td>31 <\/td><\/td><\/td>125 <\/td><\/td><\/tr>
Net income attributable to common stockholders<\/td>$<\/td>14,997 <\/td><\/td><\/td>$<\/td>12,556 <\/td><\/td><\/td>$<\/td>5,519 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share of common stock attributable to common stockholders<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>4.73 <\/td><\/td><\/td>$<\/td>4.02 <\/td><\/td><\/td>$<\/td>1.87 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>4.30 <\/td><\/td><\/td>$<\/td>3.62 <\/td><\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Weighted average shares used in computing net income per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>3,174<\/td><\/td>3,130<\/td><\/td>2,959<\/td><\/tr>
Diluted<\/td>3,485<\/td><\/td>3,475<\/td><\/td>3,386<\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_html_without_headers":"Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>$<\/td>78,509 <\/td><\/td><\/td>$<\/td>67,210 <\/td><\/td><\/td>$<\/td>44,125 <\/td><\/td><\/tr>
Automotive regulatory credits<\/td>1,790 <\/td><\/td><\/td>1,776 <\/td><\/td><\/td>1,465 <\/td><\/td><\/tr>
Automotive leasing<\/td>2,120 <\/td><\/td><\/td>2,476 <\/td><\/td><\/td>1,642 <\/td><\/td><\/tr>
Total automotive revenues<\/td>82,419 <\/td><\/td><\/td>71,462 <\/td><\/td><\/td>47,232 <\/td><\/td><\/tr>
Energy generation and storage<\/td>6,035 <\/td><\/td><\/td>3,909 <\/td><\/td><\/td>2,789 <\/td><\/td><\/tr>
Services and other<\/td>8,319 <\/td><\/td><\/td>6,091 <\/td><\/td><\/td>3,802 <\/td><\/td><\/tr>
Total revenues<\/td>96,773 <\/td><\/td><\/td>81,462 <\/td><\/td><\/td>53,823 <\/td><\/td><\/tr>
Cost of revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>65,121 <\/td><\/td><\/td>49,599 <\/td><\/td><\/td>32,415 <\/td><\/td><\/tr>
Automotive leasing<\/td>1,268 <\/td><\/td><\/td>1,509 <\/td><\/td><\/td>978 <\/td><\/td><\/tr>
Total automotive cost of revenues<\/td>66,389 <\/td><\/td><\/td>51,108 <\/td><\/td><\/td>33,393 <\/td><\/td><\/tr>
Energy generation and storage<\/td>4,894 <\/td><\/td><\/td>3,621 <\/td><\/td><\/td>2,918 <\/td><\/td><\/tr>
Services and other<\/td>7,830 <\/td><\/td><\/td>5,880 <\/td><\/td><\/td>3,906 <\/td><\/td><\/tr>
Total cost of revenues<\/td>79,113 <\/td><\/td><\/td>60,609 <\/td><\/td><\/td>40,217 <\/td><\/td><\/tr>
Gross profit<\/td>17,660 <\/td><\/td><\/td>20,853 <\/td><\/td><\/td>13,606 <\/td><\/td><\/tr>
Operating expenses<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>3,969 <\/td><\/td><\/td>3,075 <\/td><\/td><\/td>2,593 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>4,800 <\/td><\/td><\/td>3,946 <\/td><\/td><\/td>4,517 <\/td><\/td><\/tr>
Restructuring and other<\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>(27)<\/td><\/td><\/tr>
Total operating expenses<\/td>8,769 <\/td><\/td><\/td>7,197 <\/td><\/td><\/td>7,083 <\/td><\/td><\/tr>
Income from operations<\/td>8,891 <\/td><\/td><\/td>13,656 <\/td><\/td><\/td>6,523 <\/td><\/td><\/tr>
Interest income<\/td>1,066 <\/td><\/td><\/td>297 <\/td><\/td><\/td>56 <\/td><\/td><\/tr>
Interest expense<\/td>(156)<\/td><\/td><\/td>(191)<\/td><\/td><\/td>(371)<\/td><\/td><\/tr>
Other income (expense), net<\/td>172 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>135 <\/td><\/td><\/tr>
Income before income taxes<\/td>9,973 <\/td><\/td><\/td>13,719 <\/td><\/td><\/td>6,343 <\/td><\/td><\/tr>
(Benefit from) provision for income taxes<\/td>(5,001)<\/td><\/td><\/td>1,132 <\/td><\/td><\/td>699 <\/td><\/td><\/tr>
Net income<\/td>14,974 <\/td><\/td><\/td>12,587 <\/td><\/td><\/td>5,644 <\/td><\/td><\/tr>
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries<\/td>(23)<\/td><\/td><\/td>31 <\/td><\/td><\/td>125 <\/td><\/td><\/tr>
Net income attributable to common stockholders<\/td>$<\/td>14,997 <\/td><\/td><\/td>$<\/td>12,556 <\/td><\/td><\/td>$<\/td>5,519 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share of common stock attributable to common stockholders<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>4.73 <\/td><\/td><\/td>$<\/td>4.02 <\/td><\/td><\/td>$<\/td>1.87 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>4.30 <\/td><\/td><\/td>$<\/td>3.62 <\/td><\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Weighted average shares used in computing net income per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>3,174<\/td><\/td>3,130<\/td><\/td>2,959<\/td><\/tr>
Diluted<\/td>3,485<\/td><\/td>3,475<\/td><\/td>3,386<\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n"} +{"QID":"q_Ra159","Question":"Compare Tesla's gross profit in 2022 and 2023.","ground_truth_answer":"Tesla's gross profit decreased from $20,853 million in 2022 to $17,660 million in 2023, which is a decrease of approximately 15.3%.","question_type":"Ratio","page_number":50,"accession_number":"0001628280-24-002390","item":"ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA","context_markdown_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 50: Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------------------------|:------------------------|:-------|:------|:-------|:------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Revenues | | | | | | | | | |\n| 4 | Automotive sales | $ | 78,509 | | | $ | 67,210 | | $ | 44,125 |\n| 5 | Automotive regulatory credits | 1,790 | | | 1,776 | | | 1,465 | | |\n| 6 | Automotive leasing | 2,120 | | | 2,476 | | | 1,642 | | |\n| 7 | Total automotive revenues | 82,419 | | | 71,462 | | | 47,232 | | |\n| 8 | Energy generation and storage | 6,035 | | | 3,909 | | | 2,789 | | |\n| 9 | Services and other | 8,319 | | | 6,091 | | | 3,802 | | |\n| 10 | Total revenues | 96,773 | | | 81,462 | | | 53,823 | | |\n| 11 | Cost of revenues | | | | | | | | | |\n| 12 | Automotive sales | 65,121 | | | 49,599 | | | 32,415 | | |\n| 13 | Automotive leasing | 1,268 | | | 1,509 | | | 978 | | |\n| 14 | Total automotive cost of revenues | 66,389 | | | 51,108 | | | 33,393 | | |\n| 15 | Energy generation and storage | 4,894 | | | 3,621 | | | 2,918 | | |\n| 16 | Services and other | 7,830 | | | 5,880 | | | 3,906 | | |\n| 17 | Total cost of revenues | 79,113 | | | 60,609 | | | 40,217 | | |\n| 18 | Gross profit | 17,660 | | | 20,853 | | | 13,606 | | |\n| 19 | Operating expenses | | | | | | | | | |\n| 20 | Research and development | 3,969 | | | 3,075 | | | 2,593 | | |\n| 21 | Selling, general and administrative | 4,800 | | | 3,946 | | | 4,517 | | |\n| 22 | Restructuring and other | - | | | 176 | | | (27) | | |\n| 23 | Total operating expenses | 8,769 | | | 7,197 | | | 7,083 | | |\n| 24 | Income from operations | 8,891 | | | 13,656 | | | 6,523 | | |\n| 25 | Interest income | 1,066 | | | 297 | | | 56 | | |\n| 26 | Interest expense | (156) | | | (191) | | | (371) | | |\n| 27 | Other income (expense), net | 172 | | | (43) | | | 135 | | |\n| 28 | Income before income taxes | 9,973 | | | 13,719 | | | 6,343 | | |\n| 29 | (Benefit from) provision for income taxes | (5,001) | | | 1,132 | | | 699 | | |\n| 30 | Net income | 14,974 | | | 12,587 | | | 5,644 | | |\n| 31 | Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries | (23) | | | 31 | | | 125 | | |\n| 32 | Net income attributable to common stockholders | $ | 14,997 | | | $ | 12,556 | | $ | 5,519 |\n| 34 | Net income per share of common stock attributable to common stockholders | | | | | | | | | |\n| 35 | Basic | $ | 4.73 | | | $ | 4.02 | | $ | 1.87 |\n| 36 | Diluted | $ | 4.30 | | | $ | 3.62 | | $ | 1.63 |\n| 37 | Weighted average shares used in computing net income per share of common stock | | | | | | | | | |\n| 38 | Basic | 3,174 | | 3,130 | | 2,959 | | | | |\n| 39 | Diluted | 3,485 | | 3,475 | | 3,386 | | | | |\nThe accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_markdown_without_headers":"Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------------------------|:------------------------|:-------|:------|:-------|:------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Revenues | | | | | | | | | |\n| 4 | Automotive sales | $ | 78,509 | | | $ | 67,210 | | $ | 44,125 |\n| 5 | Automotive regulatory credits | 1,790 | | | 1,776 | | | 1,465 | | |\n| 6 | Automotive leasing | 2,120 | | | 2,476 | | | 1,642 | | |\n| 7 | Total automotive revenues | 82,419 | | | 71,462 | | | 47,232 | | |\n| 8 | Energy generation and storage | 6,035 | | | 3,909 | | | 2,789 | | |\n| 9 | Services and other | 8,319 | | | 6,091 | | | 3,802 | | |\n| 10 | Total revenues | 96,773 | | | 81,462 | | | 53,823 | | |\n| 11 | Cost of revenues | | | | | | | | | |\n| 12 | Automotive sales | 65,121 | | | 49,599 | | | 32,415 | | |\n| 13 | Automotive leasing | 1,268 | | | 1,509 | | | 978 | | |\n| 14 | Total automotive cost of revenues | 66,389 | | | 51,108 | | | 33,393 | | |\n| 15 | Energy generation and storage | 4,894 | | | 3,621 | | | 2,918 | | |\n| 16 | Services and other | 7,830 | | | 5,880 | | | 3,906 | | |\n| 17 | Total cost of revenues | 79,113 | | | 60,609 | | | 40,217 | | |\n| 18 | Gross profit | 17,660 | | | 20,853 | | | 13,606 | | |\n| 19 | Operating expenses | | | | | | | | | |\n| 20 | Research and development | 3,969 | | | 3,075 | | | 2,593 | | |\n| 21 | Selling, general and administrative | 4,800 | | | 3,946 | | | 4,517 | | |\n| 22 | Restructuring and other | - | | | 176 | | | (27) | | |\n| 23 | Total operating expenses | 8,769 | | | 7,197 | | | 7,083 | | |\n| 24 | Income from operations | 8,891 | | | 13,656 | | | 6,523 | | |\n| 25 | Interest income | 1,066 | | | 297 | | | 56 | | |\n| 26 | Interest expense | (156) | | | (191) | | | (371) | | |\n| 27 | Other income (expense), net | 172 | | | (43) | | | 135 | | |\n| 28 | Income before income taxes | 9,973 | | | 13,719 | | | 6,343 | | |\n| 29 | (Benefit from) provision for income taxes | (5,001) | | | 1,132 | | | 699 | | |\n| 30 | Net income | 14,974 | | | 12,587 | | | 5,644 | | |\n| 31 | Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries | (23) | | | 31 | | | 125 | | |\n| 32 | Net income attributable to common stockholders | $ | 14,997 | | | $ | 12,556 | | $ | 5,519 |\n| 34 | Net income per share of common stock attributable to common stockholders | | | | | | | | | |\n| 35 | Basic | $ | 4.73 | | | $ | 4.02 | | $ | 1.87 |\n| 36 | Diluted | $ | 4.30 | | | $ | 3.62 | | $ | 1.63 |\n| 37 | Weighted average shares used in computing net income per share of common stock | | | | | | | | | |\n| 38 | Basic | 3,174 | | 3,130 | | 2,959 | | | | |\n| 39 | Diluted | 3,485 | | 3,475 | | 3,386 | | | | |\nThe accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_html_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 50: Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>$<\/td>78,509 <\/td><\/td><\/td>$<\/td>67,210 <\/td><\/td><\/td>$<\/td>44,125 <\/td><\/td><\/tr>
Automotive regulatory credits<\/td>1,790 <\/td><\/td><\/td>1,776 <\/td><\/td><\/td>1,465 <\/td><\/td><\/tr>
Automotive leasing<\/td>2,120 <\/td><\/td><\/td>2,476 <\/td><\/td><\/td>1,642 <\/td><\/td><\/tr>
Total automotive revenues<\/td>82,419 <\/td><\/td><\/td>71,462 <\/td><\/td><\/td>47,232 <\/td><\/td><\/tr>
Energy generation and storage<\/td>6,035 <\/td><\/td><\/td>3,909 <\/td><\/td><\/td>2,789 <\/td><\/td><\/tr>
Services and other<\/td>8,319 <\/td><\/td><\/td>6,091 <\/td><\/td><\/td>3,802 <\/td><\/td><\/tr>
Total revenues<\/td>96,773 <\/td><\/td><\/td>81,462 <\/td><\/td><\/td>53,823 <\/td><\/td><\/tr>
Cost of revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>65,121 <\/td><\/td><\/td>49,599 <\/td><\/td><\/td>32,415 <\/td><\/td><\/tr>
Automotive leasing<\/td>1,268 <\/td><\/td><\/td>1,509 <\/td><\/td><\/td>978 <\/td><\/td><\/tr>
Total automotive cost of revenues<\/td>66,389 <\/td><\/td><\/td>51,108 <\/td><\/td><\/td>33,393 <\/td><\/td><\/tr>
Energy generation and storage<\/td>4,894 <\/td><\/td><\/td>3,621 <\/td><\/td><\/td>2,918 <\/td><\/td><\/tr>
Services and other<\/td>7,830 <\/td><\/td><\/td>5,880 <\/td><\/td><\/td>3,906 <\/td><\/td><\/tr>
Total cost of revenues<\/td>79,113 <\/td><\/td><\/td>60,609 <\/td><\/td><\/td>40,217 <\/td><\/td><\/tr>
Gross profit<\/td>17,660 <\/td><\/td><\/td>20,853 <\/td><\/td><\/td>13,606 <\/td><\/td><\/tr>
Operating expenses<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>3,969 <\/td><\/td><\/td>3,075 <\/td><\/td><\/td>2,593 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>4,800 <\/td><\/td><\/td>3,946 <\/td><\/td><\/td>4,517 <\/td><\/td><\/tr>
Restructuring and other<\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>(27)<\/td><\/td><\/tr>
Total operating expenses<\/td>8,769 <\/td><\/td><\/td>7,197 <\/td><\/td><\/td>7,083 <\/td><\/td><\/tr>
Income from operations<\/td>8,891 <\/td><\/td><\/td>13,656 <\/td><\/td><\/td>6,523 <\/td><\/td><\/tr>
Interest income<\/td>1,066 <\/td><\/td><\/td>297 <\/td><\/td><\/td>56 <\/td><\/td><\/tr>
Interest expense<\/td>(156)<\/td><\/td><\/td>(191)<\/td><\/td><\/td>(371)<\/td><\/td><\/tr>
Other income (expense), net<\/td>172 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>135 <\/td><\/td><\/tr>
Income before income taxes<\/td>9,973 <\/td><\/td><\/td>13,719 <\/td><\/td><\/td>6,343 <\/td><\/td><\/tr>
(Benefit from) provision for income taxes<\/td>(5,001)<\/td><\/td><\/td>1,132 <\/td><\/td><\/td>699 <\/td><\/td><\/tr>
Net income<\/td>14,974 <\/td><\/td><\/td>12,587 <\/td><\/td><\/td>5,644 <\/td><\/td><\/tr>
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries<\/td>(23)<\/td><\/td><\/td>31 <\/td><\/td><\/td>125 <\/td><\/td><\/tr>
Net income attributable to common stockholders<\/td>$<\/td>14,997 <\/td><\/td><\/td>$<\/td>12,556 <\/td><\/td><\/td>$<\/td>5,519 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share of common stock attributable to common stockholders<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>4.73 <\/td><\/td><\/td>$<\/td>4.02 <\/td><\/td><\/td>$<\/td>1.87 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>4.30 <\/td><\/td><\/td>$<\/td>3.62 <\/td><\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Weighted average shares used in computing net income per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>3,174<\/td><\/td>3,130<\/td><\/td>2,959<\/td><\/tr>
Diluted<\/td>3,485<\/td><\/td>3,475<\/td><\/td>3,386<\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_html_without_headers":"Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>$<\/td>78,509 <\/td><\/td><\/td>$<\/td>67,210 <\/td><\/td><\/td>$<\/td>44,125 <\/td><\/td><\/tr>
Automotive regulatory credits<\/td>1,790 <\/td><\/td><\/td>1,776 <\/td><\/td><\/td>1,465 <\/td><\/td><\/tr>
Automotive leasing<\/td>2,120 <\/td><\/td><\/td>2,476 <\/td><\/td><\/td>1,642 <\/td><\/td><\/tr>
Total automotive revenues<\/td>82,419 <\/td><\/td><\/td>71,462 <\/td><\/td><\/td>47,232 <\/td><\/td><\/tr>
Energy generation and storage<\/td>6,035 <\/td><\/td><\/td>3,909 <\/td><\/td><\/td>2,789 <\/td><\/td><\/tr>
Services and other<\/td>8,319 <\/td><\/td><\/td>6,091 <\/td><\/td><\/td>3,802 <\/td><\/td><\/tr>
Total revenues<\/td>96,773 <\/td><\/td><\/td>81,462 <\/td><\/td><\/td>53,823 <\/td><\/td><\/tr>
Cost of revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>65,121 <\/td><\/td><\/td>49,599 <\/td><\/td><\/td>32,415 <\/td><\/td><\/tr>
Automotive leasing<\/td>1,268 <\/td><\/td><\/td>1,509 <\/td><\/td><\/td>978 <\/td><\/td><\/tr>
Total automotive cost of revenues<\/td>66,389 <\/td><\/td><\/td>51,108 <\/td><\/td><\/td>33,393 <\/td><\/td><\/tr>
Energy generation and storage<\/td>4,894 <\/td><\/td><\/td>3,621 <\/td><\/td><\/td>2,918 <\/td><\/td><\/tr>
Services and other<\/td>7,830 <\/td><\/td><\/td>5,880 <\/td><\/td><\/td>3,906 <\/td><\/td><\/tr>
Total cost of revenues<\/td>79,113 <\/td><\/td><\/td>60,609 <\/td><\/td><\/td>40,217 <\/td><\/td><\/tr>
Gross profit<\/td>17,660 <\/td><\/td><\/td>20,853 <\/td><\/td><\/td>13,606 <\/td><\/td><\/tr>
Operating expenses<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>3,969 <\/td><\/td><\/td>3,075 <\/td><\/td><\/td>2,593 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>4,800 <\/td><\/td><\/td>3,946 <\/td><\/td><\/td>4,517 <\/td><\/td><\/tr>
Restructuring and other<\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>(27)<\/td><\/td><\/tr>
Total operating expenses<\/td>8,769 <\/td><\/td><\/td>7,197 <\/td><\/td><\/td>7,083 <\/td><\/td><\/tr>
Income from operations<\/td>8,891 <\/td><\/td><\/td>13,656 <\/td><\/td><\/td>6,523 <\/td><\/td><\/tr>
Interest income<\/td>1,066 <\/td><\/td><\/td>297 <\/td><\/td><\/td>56 <\/td><\/td><\/tr>
Interest expense<\/td>(156)<\/td><\/td><\/td>(191)<\/td><\/td><\/td>(371)<\/td><\/td><\/tr>
Other income (expense), net<\/td>172 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>135 <\/td><\/td><\/tr>
Income before income taxes<\/td>9,973 <\/td><\/td><\/td>13,719 <\/td><\/td><\/td>6,343 <\/td><\/td><\/tr>
(Benefit from) provision for income taxes<\/td>(5,001)<\/td><\/td><\/td>1,132 <\/td><\/td><\/td>699 <\/td><\/td><\/tr>
Net income<\/td>14,974 <\/td><\/td><\/td>12,587 <\/td><\/td><\/td>5,644 <\/td><\/td><\/tr>
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries<\/td>(23)<\/td><\/td><\/td>31 <\/td><\/td><\/td>125 <\/td><\/td><\/tr>
Net income attributable to common stockholders<\/td>$<\/td>14,997 <\/td><\/td><\/td>$<\/td>12,556 <\/td><\/td><\/td>$<\/td>5,519 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share of common stock attributable to common stockholders<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>4.73 <\/td><\/td><\/td>$<\/td>4.02 <\/td><\/td><\/td>$<\/td>1.87 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>4.30 <\/td><\/td><\/td>$<\/td>3.62 <\/td><\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Weighted average shares used in computing net income per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>3,174<\/td><\/td>3,130<\/td><\/td>2,959<\/td><\/tr>
Diluted<\/td>3,485<\/td><\/td>3,475<\/td><\/td>3,386<\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n"} +{"QID":"q_Ra160","Question":"What was Tesla's return on equity (ROE) for the year 2023?","ground_truth_answer":"To calculate Tesla's ROE for 2023, we use the formula: ROE = Net Income \/ Total Stockholders' Equity. For 2023, ROE = $14,974 million \/ $62,634 million = 23.9%.","question_type":"Ratio","page_number":"49,50","accession_number":"0001628280-24-002390","item":"ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA","context_markdown_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 49: Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------------|:--------|:-----------------|:-------|:---|:-------|\n| 1 | | December 31,2023 | | December 31,2022 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 16,398 | | | $ | 16,253 |\n| 5 | Short-term investments | 12,696 | | | 5,932 | | |\n| 6 | Accounts receivable, net | 3,508 | | | 2,952 | | |\n| 7 | Inventory | 13,626 | | | 12,839 | | |\n| 8 | Prepaid expenses and other current assets | 3,388 | | | 2,941 | | |\n| 9 | Total current assets | 49,616 | | | 40,917 | | |\n| 10 | Operating lease vehicles, net | 5,989 | | | 5,035 | | |\n| 11 | Solar energy systems, net | 5,229 | | | 5,489 | | |\n| 12 | Property, plant and equipment, net | 29,725 | | | 23,548 | | |\n| 13 | Operating lease right-of-use assets | 4,180 | | | 2,563 | | |\n| 14 | Digital assets, net | 184 | | | 184 | | |\n| 15 | Intangible assets, net | 178 | | | 215 | | |\n| 16 | Goodwill | 253 | | | 194 | | |\n| 17 | Deferred tax assets | 6,733 | | | 328 | | |\n| 18 | Other non-current assets | 4,531 | | | 3,865 | | |\n| 19 | Total assets | $ | 106,618 | | | $ | 82,338 |\n| 20 | Liabilities | | | | | | |\n| 21 | Current liabilities | | | | | | |\n| 22 | Accounts payable | $ | 14,431 | | | $ | 15,255 |\n| 23 | Accrued liabilities and other | 9,080 | | | 8,205 | | |\n| 24 | Deferred revenue | 2,864 | | | 1,747 | | |\n| 25 | Current portion of debt and finance leases | 2,373 | | | 1,502 | | |\n| 26 | Total current liabilities | 28,748 | | | 26,709 | | |\n| 27 | Debt and finance leases, net of current portion | 2,857 | | | 1,597 | | |\n| 28 | Deferred revenue, net of current portion | 3,251 | | | 2,804 | | |\n| 29 | Other long-term liabilities | 8,153 | | | 5,330 | | |\n| 30 | Total liabilities | 43,009 | | | 36,440 | | |\n| 31 | Commitments and contingencies (Note 15) | | | | | | |\n| 32 | Redeemable noncontrolling interests in subsidiaries | 242 | | | 409 | | |\n| 33 | Equity | | | | | | |\n| 34 | Stockholders' equity | | | | | | |\n| 35 | Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding | - | | | - | | |\n| 36 | Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 3 | | | 3 | | |\n| 37 | Additional paid-in capital | 34,892 | | | 32,177 | | |\n| 38 | Accumulated other comprehensive loss | (143) | | | (361) | | |\n| 39 | Retained earnings | 27,882 | | | 12,885 | | |\n| 40 | Total stockholders' equity | 62,634 | | | 44,704 | | |\n| 41 | Noncontrolling interests in subsidiaries | 733 | | | 785 | | |\n| 42 | Total liabilities and equity | $ | 106,618 | | | $ | 82,338 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n, Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 50: Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------------------------|:------------------------|:-------|:------|:-------|:------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Revenues | | | | | | | | | |\n| 4 | Automotive sales | $ | 78,509 | | | $ | 67,210 | | $ | 44,125 |\n| 5 | Automotive regulatory credits | 1,790 | | | 1,776 | | | 1,465 | | |\n| 6 | Automotive leasing | 2,120 | | | 2,476 | | | 1,642 | | |\n| 7 | Total automotive revenues | 82,419 | | | 71,462 | | | 47,232 | | |\n| 8 | Energy generation and storage | 6,035 | | | 3,909 | | | 2,789 | | |\n| 9 | Services and other | 8,319 | | | 6,091 | | | 3,802 | | |\n| 10 | Total revenues | 96,773 | | | 81,462 | | | 53,823 | | |\n| 11 | Cost of revenues | | | | | | | | | |\n| 12 | Automotive sales | 65,121 | | | 49,599 | | | 32,415 | | |\n| 13 | Automotive leasing | 1,268 | | | 1,509 | | | 978 | | |\n| 14 | Total automotive cost of revenues | 66,389 | | | 51,108 | | | 33,393 | | |\n| 15 | Energy generation and storage | 4,894 | | | 3,621 | | | 2,918 | | |\n| 16 | Services and other | 7,830 | | | 5,880 | | | 3,906 | | |\n| 17 | Total cost of revenues | 79,113 | | | 60,609 | | | 40,217 | | |\n| 18 | Gross profit | 17,660 | | | 20,853 | | | 13,606 | | |\n| 19 | Operating expenses | | | | | | | | | |\n| 20 | Research and development | 3,969 | | | 3,075 | | | 2,593 | | |\n| 21 | Selling, general and administrative | 4,800 | | | 3,946 | | | 4,517 | | |\n| 22 | Restructuring and other | - | | | 176 | | | (27) | | |\n| 23 | Total operating expenses | 8,769 | | | 7,197 | | | 7,083 | | |\n| 24 | Income from operations | 8,891 | | | 13,656 | | | 6,523 | | |\n| 25 | Interest income | 1,066 | | | 297 | | | 56 | | |\n| 26 | Interest expense | (156) | | | (191) | | | (371) | | |\n| 27 | Other income (expense), net | 172 | | | (43) | | | 135 | | |\n| 28 | Income before income taxes | 9,973 | | | 13,719 | | | 6,343 | | |\n| 29 | (Benefit from) provision for income taxes | (5,001) | | | 1,132 | | | 699 | | |\n| 30 | Net income | 14,974 | | | 12,587 | | | 5,644 | | |\n| 31 | Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries | (23) | | | 31 | | | 125 | | |\n| 32 | Net income attributable to common stockholders | $ | 14,997 | | | $ | 12,556 | | $ | 5,519 |\n| 34 | Net income per share of common stock attributable to common stockholders | | | | | | | | | |\n| 35 | Basic | $ | 4.73 | | | $ | 4.02 | | $ | 1.87 |\n| 36 | Diluted | $ | 4.30 | | | $ | 3.62 | | $ | 1.63 |\n| 37 | Weighted average shares used in computing net income per share of common stock | | | | | | | | | |\n| 38 | Basic | 3,174 | | 3,130 | | 2,959 | | | | |\n| 39 | Diluted | 3,485 | | 3,475 | | 3,386 | | | | |\nThe accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_markdown_without_headers":"Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------------|:--------|:-----------------|:-------|:---|:-------|\n| 1 | | December 31,2023 | | December 31,2022 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 16,398 | | | $ | 16,253 |\n| 5 | Short-term investments | 12,696 | | | 5,932 | | |\n| 6 | Accounts receivable, net | 3,508 | | | 2,952 | | |\n| 7 | Inventory | 13,626 | | | 12,839 | | |\n| 8 | Prepaid expenses and other current assets | 3,388 | | | 2,941 | | |\n| 9 | Total current assets | 49,616 | | | 40,917 | | |\n| 10 | Operating lease vehicles, net | 5,989 | | | 5,035 | | |\n| 11 | Solar energy systems, net | 5,229 | | | 5,489 | | |\n| 12 | Property, plant and equipment, net | 29,725 | | | 23,548 | | |\n| 13 | Operating lease right-of-use assets | 4,180 | | | 2,563 | | |\n| 14 | Digital assets, net | 184 | | | 184 | | |\n| 15 | Intangible assets, net | 178 | | | 215 | | |\n| 16 | Goodwill | 253 | | | 194 | | |\n| 17 | Deferred tax assets | 6,733 | | | 328 | | |\n| 18 | Other non-current assets | 4,531 | | | 3,865 | | |\n| 19 | Total assets | $ | 106,618 | | | $ | 82,338 |\n| 20 | Liabilities | | | | | | |\n| 21 | Current liabilities | | | | | | |\n| 22 | Accounts payable | $ | 14,431 | | | $ | 15,255 |\n| 23 | Accrued liabilities and other | 9,080 | | | 8,205 | | |\n| 24 | Deferred revenue | 2,864 | | | 1,747 | | |\n| 25 | Current portion of debt and finance leases | 2,373 | | | 1,502 | | |\n| 26 | Total current liabilities | 28,748 | | | 26,709 | | |\n| 27 | Debt and finance leases, net of current portion | 2,857 | | | 1,597 | | |\n| 28 | Deferred revenue, net of current portion | 3,251 | | | 2,804 | | |\n| 29 | Other long-term liabilities | 8,153 | | | 5,330 | | |\n| 30 | Total liabilities | 43,009 | | | 36,440 | | |\n| 31 | Commitments and contingencies (Note 15) | | | | | | |\n| 32 | Redeemable noncontrolling interests in subsidiaries | 242 | | | 409 | | |\n| 33 | Equity | | | | | | |\n| 34 | Stockholders' equity | | | | | | |\n| 35 | Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding | - | | | - | | |\n| 36 | Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 3 | | | 3 | | |\n| 37 | Additional paid-in capital | 34,892 | | | 32,177 | | |\n| 38 | Accumulated other comprehensive loss | (143) | | | (361) | | |\n| 39 | Retained earnings | 27,882 | | | 12,885 | | |\n| 40 | Total stockholders' equity | 62,634 | | | 44,704 | | |\n| 41 | Noncontrolling interests in subsidiaries | 733 | | | 785 | | |\n| 42 | Total liabilities and equity | $ | 106,618 | | | $ | 82,338 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n, Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------------------------|:------------------------|:-------|:------|:-------|:------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Revenues | | | | | | | | | |\n| 4 | Automotive sales | $ | 78,509 | | | $ | 67,210 | | $ | 44,125 |\n| 5 | Automotive regulatory credits | 1,790 | | | 1,776 | | | 1,465 | | |\n| 6 | Automotive leasing | 2,120 | | | 2,476 | | | 1,642 | | |\n| 7 | Total automotive revenues | 82,419 | | | 71,462 | | | 47,232 | | |\n| 8 | Energy generation and storage | 6,035 | | | 3,909 | | | 2,789 | | |\n| 9 | Services and other | 8,319 | | | 6,091 | | | 3,802 | | |\n| 10 | Total revenues | 96,773 | | | 81,462 | | | 53,823 | | |\n| 11 | Cost of revenues | | | | | | | | | |\n| 12 | Automotive sales | 65,121 | | | 49,599 | | | 32,415 | | |\n| 13 | Automotive leasing | 1,268 | | | 1,509 | | | 978 | | |\n| 14 | Total automotive cost of revenues | 66,389 | | | 51,108 | | | 33,393 | | |\n| 15 | Energy generation and storage | 4,894 | | | 3,621 | | | 2,918 | | |\n| 16 | Services and other | 7,830 | | | 5,880 | | | 3,906 | | |\n| 17 | Total cost of revenues | 79,113 | | | 60,609 | | | 40,217 | | |\n| 18 | Gross profit | 17,660 | | | 20,853 | | | 13,606 | | |\n| 19 | Operating expenses | | | | | | | | | |\n| 20 | Research and development | 3,969 | | | 3,075 | | | 2,593 | | |\n| 21 | Selling, general and administrative | 4,800 | | | 3,946 | | | 4,517 | | |\n| 22 | Restructuring and other | - | | | 176 | | | (27) | | |\n| 23 | Total operating expenses | 8,769 | | | 7,197 | | | 7,083 | | |\n| 24 | Income from operations | 8,891 | | | 13,656 | | | 6,523 | | |\n| 25 | Interest income | 1,066 | | | 297 | | | 56 | | |\n| 26 | Interest expense | (156) | | | (191) | | | (371) | | |\n| 27 | Other income (expense), net | 172 | | | (43) | | | 135 | | |\n| 28 | Income before income taxes | 9,973 | | | 13,719 | | | 6,343 | | |\n| 29 | (Benefit from) provision for income taxes | (5,001) | | | 1,132 | | | 699 | | |\n| 30 | Net income | 14,974 | | | 12,587 | | | 5,644 | | |\n| 31 | Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries | (23) | | | 31 | | | 125 | | |\n| 32 | Net income attributable to common stockholders | $ | 14,997 | | | $ | 12,556 | | $ | 5,519 |\n| 34 | Net income per share of common stock attributable to common stockholders | | | | | | | | | |\n| 35 | Basic | $ | 4.73 | | | $ | 4.02 | | $ | 1.87 |\n| 36 | Diluted | $ | 4.30 | | | $ | 3.62 | | $ | 1.63 |\n| 37 | Weighted average shares used in computing net income per share of common stock | | | | | | | | | |\n| 38 | Basic | 3,174 | | 3,130 | | 2,959 | | | | |\n| 39 | Diluted | 3,485 | | 3,475 | | 3,386 | | | | |\nThe accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_html_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 49: Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,2023<\/td><\/td>December 31,2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>16,398 <\/td><\/td><\/td>$<\/td>16,253 <\/td><\/td><\/tr>
Short-term investments<\/td>12,696 <\/td><\/td><\/td>5,932 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>3,508 <\/td><\/td><\/td>2,952 <\/td><\/td><\/tr>
Inventory<\/td>13,626 <\/td><\/td><\/td>12,839 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,388 <\/td><\/td><\/td>2,941 <\/td><\/td><\/tr>
Total current assets<\/td>49,616 <\/td><\/td><\/td>40,917 <\/td><\/td><\/tr>
Operating lease vehicles, net<\/td>5,989 <\/td><\/td><\/td>5,035 <\/td><\/td><\/tr>
Solar energy systems, net<\/td>5,229 <\/td><\/td><\/td>5,489 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>29,725 <\/td><\/td><\/td>23,548 <\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>4,180 <\/td><\/td><\/td>2,563 <\/td><\/td><\/tr>
Digital assets, net<\/td>184 <\/td><\/td><\/td>184 <\/td><\/td><\/tr>
Intangible assets, net<\/td>178 <\/td><\/td><\/td>215 <\/td><\/td><\/tr>
Goodwill<\/td>253 <\/td><\/td><\/td>194 <\/td><\/td><\/tr>
Deferred tax assets<\/td>6,733 <\/td><\/td><\/td>328 <\/td><\/td><\/tr>
Other non-current assets<\/td>4,531 <\/td><\/td><\/td>3,865 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>14,431 <\/td><\/td><\/td>$<\/td>15,255 <\/td><\/td><\/tr>
Accrued liabilities and other<\/td>9,080 <\/td><\/td><\/td>8,205 <\/td><\/td><\/tr>
Deferred revenue<\/td>2,864 <\/td><\/td><\/td>1,747 <\/td><\/td><\/tr>
Current portion of debt and finance leases<\/td>2,373 <\/td><\/td><\/td>1,502 <\/td><\/td><\/tr>
Total current liabilities<\/td>28,748 <\/td><\/td><\/td>26,709 <\/td><\/td><\/tr>
Debt and finance leases, net of current portion<\/td>2,857 <\/td><\/td><\/td>1,597 <\/td><\/td><\/tr>
Deferred revenue, net of current portion<\/td>3,251 <\/td><\/td><\/td>2,804 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>8,153 <\/td><\/td><\/td>5,330 <\/td><\/td><\/tr>
Total liabilities<\/td>43,009 <\/td><\/td><\/td>36,440 <\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td><\/td><\/td><\/td><\/tr>
Redeemable noncontrolling interests in subsidiaries<\/td>242 <\/td><\/td><\/td>409 <\/td><\/td><\/tr>
Equity<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively<\/td>3 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>34,892 <\/td><\/td><\/td>32,177 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(143)<\/td><\/td><\/td>(361)<\/td><\/td><\/tr>
Retained earnings<\/td>27,882 <\/td><\/td><\/td>12,885 <\/td><\/td><\/tr>
Total stockholders' equity<\/td>62,634 <\/td><\/td><\/td>44,704 <\/td><\/td><\/tr>
Noncontrolling interests in subsidiaries<\/td>733 <\/td><\/td><\/td>785 <\/td><\/td><\/tr>
Total liabilities and equity<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n, Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 50: Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>$<\/td>78,509 <\/td><\/td><\/td>$<\/td>67,210 <\/td><\/td><\/td>$<\/td>44,125 <\/td><\/td><\/tr>
Automotive regulatory credits<\/td>1,790 <\/td><\/td><\/td>1,776 <\/td><\/td><\/td>1,465 <\/td><\/td><\/tr>
Automotive leasing<\/td>2,120 <\/td><\/td><\/td>2,476 <\/td><\/td><\/td>1,642 <\/td><\/td><\/tr>
Total automotive revenues<\/td>82,419 <\/td><\/td><\/td>71,462 <\/td><\/td><\/td>47,232 <\/td><\/td><\/tr>
Energy generation and storage<\/td>6,035 <\/td><\/td><\/td>3,909 <\/td><\/td><\/td>2,789 <\/td><\/td><\/tr>
Services and other<\/td>8,319 <\/td><\/td><\/td>6,091 <\/td><\/td><\/td>3,802 <\/td><\/td><\/tr>
Total revenues<\/td>96,773 <\/td><\/td><\/td>81,462 <\/td><\/td><\/td>53,823 <\/td><\/td><\/tr>
Cost of revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>65,121 <\/td><\/td><\/td>49,599 <\/td><\/td><\/td>32,415 <\/td><\/td><\/tr>
Automotive leasing<\/td>1,268 <\/td><\/td><\/td>1,509 <\/td><\/td><\/td>978 <\/td><\/td><\/tr>
Total automotive cost of revenues<\/td>66,389 <\/td><\/td><\/td>51,108 <\/td><\/td><\/td>33,393 <\/td><\/td><\/tr>
Energy generation and storage<\/td>4,894 <\/td><\/td><\/td>3,621 <\/td><\/td><\/td>2,918 <\/td><\/td><\/tr>
Services and other<\/td>7,830 <\/td><\/td><\/td>5,880 <\/td><\/td><\/td>3,906 <\/td><\/td><\/tr>
Total cost of revenues<\/td>79,113 <\/td><\/td><\/td>60,609 <\/td><\/td><\/td>40,217 <\/td><\/td><\/tr>
Gross profit<\/td>17,660 <\/td><\/td><\/td>20,853 <\/td><\/td><\/td>13,606 <\/td><\/td><\/tr>
Operating expenses<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>3,969 <\/td><\/td><\/td>3,075 <\/td><\/td><\/td>2,593 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>4,800 <\/td><\/td><\/td>3,946 <\/td><\/td><\/td>4,517 <\/td><\/td><\/tr>
Restructuring and other<\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>(27)<\/td><\/td><\/tr>
Total operating expenses<\/td>8,769 <\/td><\/td><\/td>7,197 <\/td><\/td><\/td>7,083 <\/td><\/td><\/tr>
Income from operations<\/td>8,891 <\/td><\/td><\/td>13,656 <\/td><\/td><\/td>6,523 <\/td><\/td><\/tr>
Interest income<\/td>1,066 <\/td><\/td><\/td>297 <\/td><\/td><\/td>56 <\/td><\/td><\/tr>
Interest expense<\/td>(156)<\/td><\/td><\/td>(191)<\/td><\/td><\/td>(371)<\/td><\/td><\/tr>
Other income (expense), net<\/td>172 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>135 <\/td><\/td><\/tr>
Income before income taxes<\/td>9,973 <\/td><\/td><\/td>13,719 <\/td><\/td><\/td>6,343 <\/td><\/td><\/tr>
(Benefit from) provision for income taxes<\/td>(5,001)<\/td><\/td><\/td>1,132 <\/td><\/td><\/td>699 <\/td><\/td><\/tr>
Net income<\/td>14,974 <\/td><\/td><\/td>12,587 <\/td><\/td><\/td>5,644 <\/td><\/td><\/tr>
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries<\/td>(23)<\/td><\/td><\/td>31 <\/td><\/td><\/td>125 <\/td><\/td><\/tr>
Net income attributable to common stockholders<\/td>$<\/td>14,997 <\/td><\/td><\/td>$<\/td>12,556 <\/td><\/td><\/td>$<\/td>5,519 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share of common stock attributable to common stockholders<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>4.73 <\/td><\/td><\/td>$<\/td>4.02 <\/td><\/td><\/td>$<\/td>1.87 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>4.30 <\/td><\/td><\/td>$<\/td>3.62 <\/td><\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Weighted average shares used in computing net income per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>3,174<\/td><\/td>3,130<\/td><\/td>2,959<\/td><\/tr>
Diluted<\/td>3,485<\/td><\/td>3,475<\/td><\/td>3,386<\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_html_without_headers":"Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,2023<\/td><\/td>December 31,2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>16,398 <\/td><\/td><\/td>$<\/td>16,253 <\/td><\/td><\/tr>
Short-term investments<\/td>12,696 <\/td><\/td><\/td>5,932 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>3,508 <\/td><\/td><\/td>2,952 <\/td><\/td><\/tr>
Inventory<\/td>13,626 <\/td><\/td><\/td>12,839 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,388 <\/td><\/td><\/td>2,941 <\/td><\/td><\/tr>
Total current assets<\/td>49,616 <\/td><\/td><\/td>40,917 <\/td><\/td><\/tr>
Operating lease vehicles, net<\/td>5,989 <\/td><\/td><\/td>5,035 <\/td><\/td><\/tr>
Solar energy systems, net<\/td>5,229 <\/td><\/td><\/td>5,489 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>29,725 <\/td><\/td><\/td>23,548 <\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>4,180 <\/td><\/td><\/td>2,563 <\/td><\/td><\/tr>
Digital assets, net<\/td>184 <\/td><\/td><\/td>184 <\/td><\/td><\/tr>
Intangible assets, net<\/td>178 <\/td><\/td><\/td>215 <\/td><\/td><\/tr>
Goodwill<\/td>253 <\/td><\/td><\/td>194 <\/td><\/td><\/tr>
Deferred tax assets<\/td>6,733 <\/td><\/td><\/td>328 <\/td><\/td><\/tr>
Other non-current assets<\/td>4,531 <\/td><\/td><\/td>3,865 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>14,431 <\/td><\/td><\/td>$<\/td>15,255 <\/td><\/td><\/tr>
Accrued liabilities and other<\/td>9,080 <\/td><\/td><\/td>8,205 <\/td><\/td><\/tr>
Deferred revenue<\/td>2,864 <\/td><\/td><\/td>1,747 <\/td><\/td><\/tr>
Current portion of debt and finance leases<\/td>2,373 <\/td><\/td><\/td>1,502 <\/td><\/td><\/tr>
Total current liabilities<\/td>28,748 <\/td><\/td><\/td>26,709 <\/td><\/td><\/tr>
Debt and finance leases, net of current portion<\/td>2,857 <\/td><\/td><\/td>1,597 <\/td><\/td><\/tr>
Deferred revenue, net of current portion<\/td>3,251 <\/td><\/td><\/td>2,804 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>8,153 <\/td><\/td><\/td>5,330 <\/td><\/td><\/tr>
Total liabilities<\/td>43,009 <\/td><\/td><\/td>36,440 <\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td><\/td><\/td><\/td><\/tr>
Redeemable noncontrolling interests in subsidiaries<\/td>242 <\/td><\/td><\/td>409 <\/td><\/td><\/tr>
Equity<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively<\/td>3 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>34,892 <\/td><\/td><\/td>32,177 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(143)<\/td><\/td><\/td>(361)<\/td><\/td><\/tr>
Retained earnings<\/td>27,882 <\/td><\/td><\/td>12,885 <\/td><\/td><\/tr>
Total stockholders' equity<\/td>62,634 <\/td><\/td><\/td>44,704 <\/td><\/td><\/tr>
Noncontrolling interests in subsidiaries<\/td>733 <\/td><\/td><\/td>785 <\/td><\/td><\/tr>
Total liabilities and equity<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n, Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>$<\/td>78,509 <\/td><\/td><\/td>$<\/td>67,210 <\/td><\/td><\/td>$<\/td>44,125 <\/td><\/td><\/tr>
Automotive regulatory credits<\/td>1,790 <\/td><\/td><\/td>1,776 <\/td><\/td><\/td>1,465 <\/td><\/td><\/tr>
Automotive leasing<\/td>2,120 <\/td><\/td><\/td>2,476 <\/td><\/td><\/td>1,642 <\/td><\/td><\/tr>
Total automotive revenues<\/td>82,419 <\/td><\/td><\/td>71,462 <\/td><\/td><\/td>47,232 <\/td><\/td><\/tr>
Energy generation and storage<\/td>6,035 <\/td><\/td><\/td>3,909 <\/td><\/td><\/td>2,789 <\/td><\/td><\/tr>
Services and other<\/td>8,319 <\/td><\/td><\/td>6,091 <\/td><\/td><\/td>3,802 <\/td><\/td><\/tr>
Total revenues<\/td>96,773 <\/td><\/td><\/td>81,462 <\/td><\/td><\/td>53,823 <\/td><\/td><\/tr>
Cost of revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>65,121 <\/td><\/td><\/td>49,599 <\/td><\/td><\/td>32,415 <\/td><\/td><\/tr>
Automotive leasing<\/td>1,268 <\/td><\/td><\/td>1,509 <\/td><\/td><\/td>978 <\/td><\/td><\/tr>
Total automotive cost of revenues<\/td>66,389 <\/td><\/td><\/td>51,108 <\/td><\/td><\/td>33,393 <\/td><\/td><\/tr>
Energy generation and storage<\/td>4,894 <\/td><\/td><\/td>3,621 <\/td><\/td><\/td>2,918 <\/td><\/td><\/tr>
Services and other<\/td>7,830 <\/td><\/td><\/td>5,880 <\/td><\/td><\/td>3,906 <\/td><\/td><\/tr>
Total cost of revenues<\/td>79,113 <\/td><\/td><\/td>60,609 <\/td><\/td><\/td>40,217 <\/td><\/td><\/tr>
Gross profit<\/td>17,660 <\/td><\/td><\/td>20,853 <\/td><\/td><\/td>13,606 <\/td><\/td><\/tr>
Operating expenses<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>3,969 <\/td><\/td><\/td>3,075 <\/td><\/td><\/td>2,593 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>4,800 <\/td><\/td><\/td>3,946 <\/td><\/td><\/td>4,517 <\/td><\/td><\/tr>
Restructuring and other<\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>(27)<\/td><\/td><\/tr>
Total operating expenses<\/td>8,769 <\/td><\/td><\/td>7,197 <\/td><\/td><\/td>7,083 <\/td><\/td><\/tr>
Income from operations<\/td>8,891 <\/td><\/td><\/td>13,656 <\/td><\/td><\/td>6,523 <\/td><\/td><\/tr>
Interest income<\/td>1,066 <\/td><\/td><\/td>297 <\/td><\/td><\/td>56 <\/td><\/td><\/tr>
Interest expense<\/td>(156)<\/td><\/td><\/td>(191)<\/td><\/td><\/td>(371)<\/td><\/td><\/tr>
Other income (expense), net<\/td>172 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>135 <\/td><\/td><\/tr>
Income before income taxes<\/td>9,973 <\/td><\/td><\/td>13,719 <\/td><\/td><\/td>6,343 <\/td><\/td><\/tr>
(Benefit from) provision for income taxes<\/td>(5,001)<\/td><\/td><\/td>1,132 <\/td><\/td><\/td>699 <\/td><\/td><\/tr>
Net income<\/td>14,974 <\/td><\/td><\/td>12,587 <\/td><\/td><\/td>5,644 <\/td><\/td><\/tr>
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries<\/td>(23)<\/td><\/td><\/td>31 <\/td><\/td><\/td>125 <\/td><\/td><\/tr>
Net income attributable to common stockholders<\/td>$<\/td>14,997 <\/td><\/td><\/td>$<\/td>12,556 <\/td><\/td><\/td>$<\/td>5,519 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share of common stock attributable to common stockholders<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>4.73 <\/td><\/td><\/td>$<\/td>4.02 <\/td><\/td><\/td>$<\/td>1.87 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>4.30 <\/td><\/td><\/td>$<\/td>3.62 <\/td><\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Weighted average shares used in computing net income per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>3,174<\/td><\/td>3,130<\/td><\/td>2,959<\/td><\/tr>
Diluted<\/td>3,485<\/td><\/td>3,475<\/td><\/td>3,386<\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n"} +{"QID":"q_Ra161","Question":"What was Tesla's profit margin in 2023?","ground_truth_answer":"To calculate Tesla's profit margin for 2023, we use the formula: Profit Margin = Net Income \/ Total Revenues. For 2023, Profit Margin = $14,974 million \/ $96,773 million = 15.5%.","question_type":"Ratio","page_number":50,"accession_number":"0001628280-24-002390","item":"ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA","context_markdown_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 50: Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------------------------|:------------------------|:-------|:------|:-------|:------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Revenues | | | | | | | | | |\n| 4 | Automotive sales | $ | 78,509 | | | $ | 67,210 | | $ | 44,125 |\n| 5 | Automotive regulatory credits | 1,790 | | | 1,776 | | | 1,465 | | |\n| 6 | Automotive leasing | 2,120 | | | 2,476 | | | 1,642 | | |\n| 7 | Total automotive revenues | 82,419 | | | 71,462 | | | 47,232 | | |\n| 8 | Energy generation and storage | 6,035 | | | 3,909 | | | 2,789 | | |\n| 9 | Services and other | 8,319 | | | 6,091 | | | 3,802 | | |\n| 10 | Total revenues | 96,773 | | | 81,462 | | | 53,823 | | |\n| 11 | Cost of revenues | | | | | | | | | |\n| 12 | Automotive sales | 65,121 | | | 49,599 | | | 32,415 | | |\n| 13 | Automotive leasing | 1,268 | | | 1,509 | | | 978 | | |\n| 14 | Total automotive cost of revenues | 66,389 | | | 51,108 | | | 33,393 | | |\n| 15 | Energy generation and storage | 4,894 | | | 3,621 | | | 2,918 | | |\n| 16 | Services and other | 7,830 | | | 5,880 | | | 3,906 | | |\n| 17 | Total cost of revenues | 79,113 | | | 60,609 | | | 40,217 | | |\n| 18 | Gross profit | 17,660 | | | 20,853 | | | 13,606 | | |\n| 19 | Operating expenses | | | | | | | | | |\n| 20 | Research and development | 3,969 | | | 3,075 | | | 2,593 | | |\n| 21 | Selling, general and administrative | 4,800 | | | 3,946 | | | 4,517 | | |\n| 22 | Restructuring and other | - | | | 176 | | | (27) | | |\n| 23 | Total operating expenses | 8,769 | | | 7,197 | | | 7,083 | | |\n| 24 | Income from operations | 8,891 | | | 13,656 | | | 6,523 | | |\n| 25 | Interest income | 1,066 | | | 297 | | | 56 | | |\n| 26 | Interest expense | (156) | | | (191) | | | (371) | | |\n| 27 | Other income (expense), net | 172 | | | (43) | | | 135 | | |\n| 28 | Income before income taxes | 9,973 | | | 13,719 | | | 6,343 | | |\n| 29 | (Benefit from) provision for income taxes | (5,001) | | | 1,132 | | | 699 | | |\n| 30 | Net income | 14,974 | | | 12,587 | | | 5,644 | | |\n| 31 | Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries | (23) | | | 31 | | | 125 | | |\n| 32 | Net income attributable to common stockholders | $ | 14,997 | | | $ | 12,556 | | $ | 5,519 |\n| 34 | Net income per share of common stock attributable to common stockholders | | | | | | | | | |\n| 35 | Basic | $ | 4.73 | | | $ | 4.02 | | $ | 1.87 |\n| 36 | Diluted | $ | 4.30 | | | $ | 3.62 | | $ | 1.63 |\n| 37 | Weighted average shares used in computing net income per share of common stock | | | | | | | | | |\n| 38 | Basic | 3,174 | | 3,130 | | 2,959 | | | | |\n| 39 | Diluted | 3,485 | | 3,475 | | 3,386 | | | | |\nThe accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_markdown_without_headers":"Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------------------------|:------------------------|:-------|:------|:-------|:------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Revenues | | | | | | | | | |\n| 4 | Automotive sales | $ | 78,509 | | | $ | 67,210 | | $ | 44,125 |\n| 5 | Automotive regulatory credits | 1,790 | | | 1,776 | | | 1,465 | | |\n| 6 | Automotive leasing | 2,120 | | | 2,476 | | | 1,642 | | |\n| 7 | Total automotive revenues | 82,419 | | | 71,462 | | | 47,232 | | |\n| 8 | Energy generation and storage | 6,035 | | | 3,909 | | | 2,789 | | |\n| 9 | Services and other | 8,319 | | | 6,091 | | | 3,802 | | |\n| 10 | Total revenues | 96,773 | | | 81,462 | | | 53,823 | | |\n| 11 | Cost of revenues | | | | | | | | | |\n| 12 | Automotive sales | 65,121 | | | 49,599 | | | 32,415 | | |\n| 13 | Automotive leasing | 1,268 | | | 1,509 | | | 978 | | |\n| 14 | Total automotive cost of revenues | 66,389 | | | 51,108 | | | 33,393 | | |\n| 15 | Energy generation and storage | 4,894 | | | 3,621 | | | 2,918 | | |\n| 16 | Services and other | 7,830 | | | 5,880 | | | 3,906 | | |\n| 17 | Total cost of revenues | 79,113 | | | 60,609 | | | 40,217 | | |\n| 18 | Gross profit | 17,660 | | | 20,853 | | | 13,606 | | |\n| 19 | Operating expenses | | | | | | | | | |\n| 20 | Research and development | 3,969 | | | 3,075 | | | 2,593 | | |\n| 21 | Selling, general and administrative | 4,800 | | | 3,946 | | | 4,517 | | |\n| 22 | Restructuring and other | - | | | 176 | | | (27) | | |\n| 23 | Total operating expenses | 8,769 | | | 7,197 | | | 7,083 | | |\n| 24 | Income from operations | 8,891 | | | 13,656 | | | 6,523 | | |\n| 25 | Interest income | 1,066 | | | 297 | | | 56 | | |\n| 26 | Interest expense | (156) | | | (191) | | | (371) | | |\n| 27 | Other income (expense), net | 172 | | | (43) | | | 135 | | |\n| 28 | Income before income taxes | 9,973 | | | 13,719 | | | 6,343 | | |\n| 29 | (Benefit from) provision for income taxes | (5,001) | | | 1,132 | | | 699 | | |\n| 30 | Net income | 14,974 | | | 12,587 | | | 5,644 | | |\n| 31 | Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries | (23) | | | 31 | | | 125 | | |\n| 32 | Net income attributable to common stockholders | $ | 14,997 | | | $ | 12,556 | | $ | 5,519 |\n| 34 | Net income per share of common stock attributable to common stockholders | | | | | | | | | |\n| 35 | Basic | $ | 4.73 | | | $ | 4.02 | | $ | 1.87 |\n| 36 | Diluted | $ | 4.30 | | | $ | 3.62 | | $ | 1.63 |\n| 37 | Weighted average shares used in computing net income per share of common stock | | | | | | | | | |\n| 38 | Basic | 3,174 | | 3,130 | | 2,959 | | | | |\n| 39 | Diluted | 3,485 | | 3,475 | | 3,386 | | | | |\nThe accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_html_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 50: Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>$<\/td>78,509 <\/td><\/td><\/td>$<\/td>67,210 <\/td><\/td><\/td>$<\/td>44,125 <\/td><\/td><\/tr>
Automotive regulatory credits<\/td>1,790 <\/td><\/td><\/td>1,776 <\/td><\/td><\/td>1,465 <\/td><\/td><\/tr>
Automotive leasing<\/td>2,120 <\/td><\/td><\/td>2,476 <\/td><\/td><\/td>1,642 <\/td><\/td><\/tr>
Total automotive revenues<\/td>82,419 <\/td><\/td><\/td>71,462 <\/td><\/td><\/td>47,232 <\/td><\/td><\/tr>
Energy generation and storage<\/td>6,035 <\/td><\/td><\/td>3,909 <\/td><\/td><\/td>2,789 <\/td><\/td><\/tr>
Services and other<\/td>8,319 <\/td><\/td><\/td>6,091 <\/td><\/td><\/td>3,802 <\/td><\/td><\/tr>
Total revenues<\/td>96,773 <\/td><\/td><\/td>81,462 <\/td><\/td><\/td>53,823 <\/td><\/td><\/tr>
Cost of revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>65,121 <\/td><\/td><\/td>49,599 <\/td><\/td><\/td>32,415 <\/td><\/td><\/tr>
Automotive leasing<\/td>1,268 <\/td><\/td><\/td>1,509 <\/td><\/td><\/td>978 <\/td><\/td><\/tr>
Total automotive cost of revenues<\/td>66,389 <\/td><\/td><\/td>51,108 <\/td><\/td><\/td>33,393 <\/td><\/td><\/tr>
Energy generation and storage<\/td>4,894 <\/td><\/td><\/td>3,621 <\/td><\/td><\/td>2,918 <\/td><\/td><\/tr>
Services and other<\/td>7,830 <\/td><\/td><\/td>5,880 <\/td><\/td><\/td>3,906 <\/td><\/td><\/tr>
Total cost of revenues<\/td>79,113 <\/td><\/td><\/td>60,609 <\/td><\/td><\/td>40,217 <\/td><\/td><\/tr>
Gross profit<\/td>17,660 <\/td><\/td><\/td>20,853 <\/td><\/td><\/td>13,606 <\/td><\/td><\/tr>
Operating expenses<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>3,969 <\/td><\/td><\/td>3,075 <\/td><\/td><\/td>2,593 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>4,800 <\/td><\/td><\/td>3,946 <\/td><\/td><\/td>4,517 <\/td><\/td><\/tr>
Restructuring and other<\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>(27)<\/td><\/td><\/tr>
Total operating expenses<\/td>8,769 <\/td><\/td><\/td>7,197 <\/td><\/td><\/td>7,083 <\/td><\/td><\/tr>
Income from operations<\/td>8,891 <\/td><\/td><\/td>13,656 <\/td><\/td><\/td>6,523 <\/td><\/td><\/tr>
Interest income<\/td>1,066 <\/td><\/td><\/td>297 <\/td><\/td><\/td>56 <\/td><\/td><\/tr>
Interest expense<\/td>(156)<\/td><\/td><\/td>(191)<\/td><\/td><\/td>(371)<\/td><\/td><\/tr>
Other income (expense), net<\/td>172 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>135 <\/td><\/td><\/tr>
Income before income taxes<\/td>9,973 <\/td><\/td><\/td>13,719 <\/td><\/td><\/td>6,343 <\/td><\/td><\/tr>
(Benefit from) provision for income taxes<\/td>(5,001)<\/td><\/td><\/td>1,132 <\/td><\/td><\/td>699 <\/td><\/td><\/tr>
Net income<\/td>14,974 <\/td><\/td><\/td>12,587 <\/td><\/td><\/td>5,644 <\/td><\/td><\/tr>
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries<\/td>(23)<\/td><\/td><\/td>31 <\/td><\/td><\/td>125 <\/td><\/td><\/tr>
Net income attributable to common stockholders<\/td>$<\/td>14,997 <\/td><\/td><\/td>$<\/td>12,556 <\/td><\/td><\/td>$<\/td>5,519 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share of common stock attributable to common stockholders<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>4.73 <\/td><\/td><\/td>$<\/td>4.02 <\/td><\/td><\/td>$<\/td>1.87 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>4.30 <\/td><\/td><\/td>$<\/td>3.62 <\/td><\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Weighted average shares used in computing net income per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>3,174<\/td><\/td>3,130<\/td><\/td>2,959<\/td><\/tr>
Diluted<\/td>3,485<\/td><\/td>3,475<\/td><\/td>3,386<\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_html_without_headers":"Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>$<\/td>78,509 <\/td><\/td><\/td>$<\/td>67,210 <\/td><\/td><\/td>$<\/td>44,125 <\/td><\/td><\/tr>
Automotive regulatory credits<\/td>1,790 <\/td><\/td><\/td>1,776 <\/td><\/td><\/td>1,465 <\/td><\/td><\/tr>
Automotive leasing<\/td>2,120 <\/td><\/td><\/td>2,476 <\/td><\/td><\/td>1,642 <\/td><\/td><\/tr>
Total automotive revenues<\/td>82,419 <\/td><\/td><\/td>71,462 <\/td><\/td><\/td>47,232 <\/td><\/td><\/tr>
Energy generation and storage<\/td>6,035 <\/td><\/td><\/td>3,909 <\/td><\/td><\/td>2,789 <\/td><\/td><\/tr>
Services and other<\/td>8,319 <\/td><\/td><\/td>6,091 <\/td><\/td><\/td>3,802 <\/td><\/td><\/tr>
Total revenues<\/td>96,773 <\/td><\/td><\/td>81,462 <\/td><\/td><\/td>53,823 <\/td><\/td><\/tr>
Cost of revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>65,121 <\/td><\/td><\/td>49,599 <\/td><\/td><\/td>32,415 <\/td><\/td><\/tr>
Automotive leasing<\/td>1,268 <\/td><\/td><\/td>1,509 <\/td><\/td><\/td>978 <\/td><\/td><\/tr>
Total automotive cost of revenues<\/td>66,389 <\/td><\/td><\/td>51,108 <\/td><\/td><\/td>33,393 <\/td><\/td><\/tr>
Energy generation and storage<\/td>4,894 <\/td><\/td><\/td>3,621 <\/td><\/td><\/td>2,918 <\/td><\/td><\/tr>
Services and other<\/td>7,830 <\/td><\/td><\/td>5,880 <\/td><\/td><\/td>3,906 <\/td><\/td><\/tr>
Total cost of revenues<\/td>79,113 <\/td><\/td><\/td>60,609 <\/td><\/td><\/td>40,217 <\/td><\/td><\/tr>
Gross profit<\/td>17,660 <\/td><\/td><\/td>20,853 <\/td><\/td><\/td>13,606 <\/td><\/td><\/tr>
Operating expenses<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>3,969 <\/td><\/td><\/td>3,075 <\/td><\/td><\/td>2,593 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>4,800 <\/td><\/td><\/td>3,946 <\/td><\/td><\/td>4,517 <\/td><\/td><\/tr>
Restructuring and other<\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>(27)<\/td><\/td><\/tr>
Total operating expenses<\/td>8,769 <\/td><\/td><\/td>7,197 <\/td><\/td><\/td>7,083 <\/td><\/td><\/tr>
Income from operations<\/td>8,891 <\/td><\/td><\/td>13,656 <\/td><\/td><\/td>6,523 <\/td><\/td><\/tr>
Interest income<\/td>1,066 <\/td><\/td><\/td>297 <\/td><\/td><\/td>56 <\/td><\/td><\/tr>
Interest expense<\/td>(156)<\/td><\/td><\/td>(191)<\/td><\/td><\/td>(371)<\/td><\/td><\/tr>
Other income (expense), net<\/td>172 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>135 <\/td><\/td><\/tr>
Income before income taxes<\/td>9,973 <\/td><\/td><\/td>13,719 <\/td><\/td><\/td>6,343 <\/td><\/td><\/tr>
(Benefit from) provision for income taxes<\/td>(5,001)<\/td><\/td><\/td>1,132 <\/td><\/td><\/td>699 <\/td><\/td><\/tr>
Net income<\/td>14,974 <\/td><\/td><\/td>12,587 <\/td><\/td><\/td>5,644 <\/td><\/td><\/tr>
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries<\/td>(23)<\/td><\/td><\/td>31 <\/td><\/td><\/td>125 <\/td><\/td><\/tr>
Net income attributable to common stockholders<\/td>$<\/td>14,997 <\/td><\/td><\/td>$<\/td>12,556 <\/td><\/td><\/td>$<\/td>5,519 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share of common stock attributable to common stockholders<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>4.73 <\/td><\/td><\/td>$<\/td>4.02 <\/td><\/td><\/td>$<\/td>1.87 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>4.30 <\/td><\/td><\/td>$<\/td>3.62 <\/td><\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Weighted average shares used in computing net income per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>3,174<\/td><\/td>3,130<\/td><\/td>2,959<\/td><\/tr>
Diluted<\/td>3,485<\/td><\/td>3,475<\/td><\/td>3,386<\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n"} +{"QID":"q_Ra162","Question":"What was Tesla's interest coverage ratio in 2023?","ground_truth_answer":"To calculate Tesla's interest coverage ratio for 2023, we use the formula: Interest Coverage Ratio = Income from Operations \/ Interest Expense. For 2023, Interest Coverage Ratio = $8,891 million \/ $156 million = 57.0.","question_type":"Ratio","page_number":50,"accession_number":"0001628280-24-002390","item":"ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA","context_markdown_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 50: Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------------------------|:------------------------|:-------|:------|:-------|:------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Revenues | | | | | | | | | |\n| 4 | Automotive sales | $ | 78,509 | | | $ | 67,210 | | $ | 44,125 |\n| 5 | Automotive regulatory credits | 1,790 | | | 1,776 | | | 1,465 | | |\n| 6 | Automotive leasing | 2,120 | | | 2,476 | | | 1,642 | | |\n| 7 | Total automotive revenues | 82,419 | | | 71,462 | | | 47,232 | | |\n| 8 | Energy generation and storage | 6,035 | | | 3,909 | | | 2,789 | | |\n| 9 | Services and other | 8,319 | | | 6,091 | | | 3,802 | | |\n| 10 | Total revenues | 96,773 | | | 81,462 | | | 53,823 | | |\n| 11 | Cost of revenues | | | | | | | | | |\n| 12 | Automotive sales | 65,121 | | | 49,599 | | | 32,415 | | |\n| 13 | Automotive leasing | 1,268 | | | 1,509 | | | 978 | | |\n| 14 | Total automotive cost of revenues | 66,389 | | | 51,108 | | | 33,393 | | |\n| 15 | Energy generation and storage | 4,894 | | | 3,621 | | | 2,918 | | |\n| 16 | Services and other | 7,830 | | | 5,880 | | | 3,906 | | |\n| 17 | Total cost of revenues | 79,113 | | | 60,609 | | | 40,217 | | |\n| 18 | Gross profit | 17,660 | | | 20,853 | | | 13,606 | | |\n| 19 | Operating expenses | | | | | | | | | |\n| 20 | Research and development | 3,969 | | | 3,075 | | | 2,593 | | |\n| 21 | Selling, general and administrative | 4,800 | | | 3,946 | | | 4,517 | | |\n| 22 | Restructuring and other | - | | | 176 | | | (27) | | |\n| 23 | Total operating expenses | 8,769 | | | 7,197 | | | 7,083 | | |\n| 24 | Income from operations | 8,891 | | | 13,656 | | | 6,523 | | |\n| 25 | Interest income | 1,066 | | | 297 | | | 56 | | |\n| 26 | Interest expense | (156) | | | (191) | | | (371) | | |\n| 27 | Other income (expense), net | 172 | | | (43) | | | 135 | | |\n| 28 | Income before income taxes | 9,973 | | | 13,719 | | | 6,343 | | |\n| 29 | (Benefit from) provision for income taxes | (5,001) | | | 1,132 | | | 699 | | |\n| 30 | Net income | 14,974 | | | 12,587 | | | 5,644 | | |\n| 31 | Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries | (23) | | | 31 | | | 125 | | |\n| 32 | Net income attributable to common stockholders | $ | 14,997 | | | $ | 12,556 | | $ | 5,519 |\n| 34 | Net income per share of common stock attributable to common stockholders | | | | | | | | | |\n| 35 | Basic | $ | 4.73 | | | $ | 4.02 | | $ | 1.87 |\n| 36 | Diluted | $ | 4.30 | | | $ | 3.62 | | $ | 1.63 |\n| 37 | Weighted average shares used in computing net income per share of common stock | | | | | | | | | |\n| 38 | Basic | 3,174 | | 3,130 | | 2,959 | | | | |\n| 39 | Diluted | 3,485 | | 3,475 | | 3,386 | | | | |\nThe accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_markdown_without_headers":"Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------------------------|:------------------------|:-------|:------|:-------|:------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Revenues | | | | | | | | | |\n| 4 | Automotive sales | $ | 78,509 | | | $ | 67,210 | | $ | 44,125 |\n| 5 | Automotive regulatory credits | 1,790 | | | 1,776 | | | 1,465 | | |\n| 6 | Automotive leasing | 2,120 | | | 2,476 | | | 1,642 | | |\n| 7 | Total automotive revenues | 82,419 | | | 71,462 | | | 47,232 | | |\n| 8 | Energy generation and storage | 6,035 | | | 3,909 | | | 2,789 | | |\n| 9 | Services and other | 8,319 | | | 6,091 | | | 3,802 | | |\n| 10 | Total revenues | 96,773 | | | 81,462 | | | 53,823 | | |\n| 11 | Cost of revenues | | | | | | | | | |\n| 12 | Automotive sales | 65,121 | | | 49,599 | | | 32,415 | | |\n| 13 | Automotive leasing | 1,268 | | | 1,509 | | | 978 | | |\n| 14 | Total automotive cost of revenues | 66,389 | | | 51,108 | | | 33,393 | | |\n| 15 | Energy generation and storage | 4,894 | | | 3,621 | | | 2,918 | | |\n| 16 | Services and other | 7,830 | | | 5,880 | | | 3,906 | | |\n| 17 | Total cost of revenues | 79,113 | | | 60,609 | | | 40,217 | | |\n| 18 | Gross profit | 17,660 | | | 20,853 | | | 13,606 | | |\n| 19 | Operating expenses | | | | | | | | | |\n| 20 | Research and development | 3,969 | | | 3,075 | | | 2,593 | | |\n| 21 | Selling, general and administrative | 4,800 | | | 3,946 | | | 4,517 | | |\n| 22 | Restructuring and other | - | | | 176 | | | (27) | | |\n| 23 | Total operating expenses | 8,769 | | | 7,197 | | | 7,083 | | |\n| 24 | Income from operations | 8,891 | | | 13,656 | | | 6,523 | | |\n| 25 | Interest income | 1,066 | | | 297 | | | 56 | | |\n| 26 | Interest expense | (156) | | | (191) | | | (371) | | |\n| 27 | Other income (expense), net | 172 | | | (43) | | | 135 | | |\n| 28 | Income before income taxes | 9,973 | | | 13,719 | | | 6,343 | | |\n| 29 | (Benefit from) provision for income taxes | (5,001) | | | 1,132 | | | 699 | | |\n| 30 | Net income | 14,974 | | | 12,587 | | | 5,644 | | |\n| 31 | Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries | (23) | | | 31 | | | 125 | | |\n| 32 | Net income attributable to common stockholders | $ | 14,997 | | | $ | 12,556 | | $ | 5,519 |\n| 34 | Net income per share of common stock attributable to common stockholders | | | | | | | | | |\n| 35 | Basic | $ | 4.73 | | | $ | 4.02 | | $ | 1.87 |\n| 36 | Diluted | $ | 4.30 | | | $ | 3.62 | | $ | 1.63 |\n| 37 | Weighted average shares used in computing net income per share of common stock | | | | | | | | | |\n| 38 | Basic | 3,174 | | 3,130 | | 2,959 | | | | |\n| 39 | Diluted | 3,485 | | 3,475 | | 3,386 | | | | |\nThe accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_html_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 50: Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>$<\/td>78,509 <\/td><\/td><\/td>$<\/td>67,210 <\/td><\/td><\/td>$<\/td>44,125 <\/td><\/td><\/tr>
Automotive regulatory credits<\/td>1,790 <\/td><\/td><\/td>1,776 <\/td><\/td><\/td>1,465 <\/td><\/td><\/tr>
Automotive leasing<\/td>2,120 <\/td><\/td><\/td>2,476 <\/td><\/td><\/td>1,642 <\/td><\/td><\/tr>
Total automotive revenues<\/td>82,419 <\/td><\/td><\/td>71,462 <\/td><\/td><\/td>47,232 <\/td><\/td><\/tr>
Energy generation and storage<\/td>6,035 <\/td><\/td><\/td>3,909 <\/td><\/td><\/td>2,789 <\/td><\/td><\/tr>
Services and other<\/td>8,319 <\/td><\/td><\/td>6,091 <\/td><\/td><\/td>3,802 <\/td><\/td><\/tr>
Total revenues<\/td>96,773 <\/td><\/td><\/td>81,462 <\/td><\/td><\/td>53,823 <\/td><\/td><\/tr>
Cost of revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>65,121 <\/td><\/td><\/td>49,599 <\/td><\/td><\/td>32,415 <\/td><\/td><\/tr>
Automotive leasing<\/td>1,268 <\/td><\/td><\/td>1,509 <\/td><\/td><\/td>978 <\/td><\/td><\/tr>
Total automotive cost of revenues<\/td>66,389 <\/td><\/td><\/td>51,108 <\/td><\/td><\/td>33,393 <\/td><\/td><\/tr>
Energy generation and storage<\/td>4,894 <\/td><\/td><\/td>3,621 <\/td><\/td><\/td>2,918 <\/td><\/td><\/tr>
Services and other<\/td>7,830 <\/td><\/td><\/td>5,880 <\/td><\/td><\/td>3,906 <\/td><\/td><\/tr>
Total cost of revenues<\/td>79,113 <\/td><\/td><\/td>60,609 <\/td><\/td><\/td>40,217 <\/td><\/td><\/tr>
Gross profit<\/td>17,660 <\/td><\/td><\/td>20,853 <\/td><\/td><\/td>13,606 <\/td><\/td><\/tr>
Operating expenses<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>3,969 <\/td><\/td><\/td>3,075 <\/td><\/td><\/td>2,593 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>4,800 <\/td><\/td><\/td>3,946 <\/td><\/td><\/td>4,517 <\/td><\/td><\/tr>
Restructuring and other<\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>(27)<\/td><\/td><\/tr>
Total operating expenses<\/td>8,769 <\/td><\/td><\/td>7,197 <\/td><\/td><\/td>7,083 <\/td><\/td><\/tr>
Income from operations<\/td>8,891 <\/td><\/td><\/td>13,656 <\/td><\/td><\/td>6,523 <\/td><\/td><\/tr>
Interest income<\/td>1,066 <\/td><\/td><\/td>297 <\/td><\/td><\/td>56 <\/td><\/td><\/tr>
Interest expense<\/td>(156)<\/td><\/td><\/td>(191)<\/td><\/td><\/td>(371)<\/td><\/td><\/tr>
Other income (expense), net<\/td>172 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>135 <\/td><\/td><\/tr>
Income before income taxes<\/td>9,973 <\/td><\/td><\/td>13,719 <\/td><\/td><\/td>6,343 <\/td><\/td><\/tr>
(Benefit from) provision for income taxes<\/td>(5,001)<\/td><\/td><\/td>1,132 <\/td><\/td><\/td>699 <\/td><\/td><\/tr>
Net income<\/td>14,974 <\/td><\/td><\/td>12,587 <\/td><\/td><\/td>5,644 <\/td><\/td><\/tr>
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries<\/td>(23)<\/td><\/td><\/td>31 <\/td><\/td><\/td>125 <\/td><\/td><\/tr>
Net income attributable to common stockholders<\/td>$<\/td>14,997 <\/td><\/td><\/td>$<\/td>12,556 <\/td><\/td><\/td>$<\/td>5,519 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share of common stock attributable to common stockholders<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>4.73 <\/td><\/td><\/td>$<\/td>4.02 <\/td><\/td><\/td>$<\/td>1.87 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>4.30 <\/td><\/td><\/td>$<\/td>3.62 <\/td><\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Weighted average shares used in computing net income per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>3,174<\/td><\/td>3,130<\/td><\/td>2,959<\/td><\/tr>
Diluted<\/td>3,485<\/td><\/td>3,475<\/td><\/td>3,386<\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_html_without_headers":"Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>$<\/td>78,509 <\/td><\/td><\/td>$<\/td>67,210 <\/td><\/td><\/td>$<\/td>44,125 <\/td><\/td><\/tr>
Automotive regulatory credits<\/td>1,790 <\/td><\/td><\/td>1,776 <\/td><\/td><\/td>1,465 <\/td><\/td><\/tr>
Automotive leasing<\/td>2,120 <\/td><\/td><\/td>2,476 <\/td><\/td><\/td>1,642 <\/td><\/td><\/tr>
Total automotive revenues<\/td>82,419 <\/td><\/td><\/td>71,462 <\/td><\/td><\/td>47,232 <\/td><\/td><\/tr>
Energy generation and storage<\/td>6,035 <\/td><\/td><\/td>3,909 <\/td><\/td><\/td>2,789 <\/td><\/td><\/tr>
Services and other<\/td>8,319 <\/td><\/td><\/td>6,091 <\/td><\/td><\/td>3,802 <\/td><\/td><\/tr>
Total revenues<\/td>96,773 <\/td><\/td><\/td>81,462 <\/td><\/td><\/td>53,823 <\/td><\/td><\/tr>
Cost of revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>65,121 <\/td><\/td><\/td>49,599 <\/td><\/td><\/td>32,415 <\/td><\/td><\/tr>
Automotive leasing<\/td>1,268 <\/td><\/td><\/td>1,509 <\/td><\/td><\/td>978 <\/td><\/td><\/tr>
Total automotive cost of revenues<\/td>66,389 <\/td><\/td><\/td>51,108 <\/td><\/td><\/td>33,393 <\/td><\/td><\/tr>
Energy generation and storage<\/td>4,894 <\/td><\/td><\/td>3,621 <\/td><\/td><\/td>2,918 <\/td><\/td><\/tr>
Services and other<\/td>7,830 <\/td><\/td><\/td>5,880 <\/td><\/td><\/td>3,906 <\/td><\/td><\/tr>
Total cost of revenues<\/td>79,113 <\/td><\/td><\/td>60,609 <\/td><\/td><\/td>40,217 <\/td><\/td><\/tr>
Gross profit<\/td>17,660 <\/td><\/td><\/td>20,853 <\/td><\/td><\/td>13,606 <\/td><\/td><\/tr>
Operating expenses<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>3,969 <\/td><\/td><\/td>3,075 <\/td><\/td><\/td>2,593 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>4,800 <\/td><\/td><\/td>3,946 <\/td><\/td><\/td>4,517 <\/td><\/td><\/tr>
Restructuring and other<\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>(27)<\/td><\/td><\/tr>
Total operating expenses<\/td>8,769 <\/td><\/td><\/td>7,197 <\/td><\/td><\/td>7,083 <\/td><\/td><\/tr>
Income from operations<\/td>8,891 <\/td><\/td><\/td>13,656 <\/td><\/td><\/td>6,523 <\/td><\/td><\/tr>
Interest income<\/td>1,066 <\/td><\/td><\/td>297 <\/td><\/td><\/td>56 <\/td><\/td><\/tr>
Interest expense<\/td>(156)<\/td><\/td><\/td>(191)<\/td><\/td><\/td>(371)<\/td><\/td><\/tr>
Other income (expense), net<\/td>172 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>135 <\/td><\/td><\/tr>
Income before income taxes<\/td>9,973 <\/td><\/td><\/td>13,719 <\/td><\/td><\/td>6,343 <\/td><\/td><\/tr>
(Benefit from) provision for income taxes<\/td>(5,001)<\/td><\/td><\/td>1,132 <\/td><\/td><\/td>699 <\/td><\/td><\/tr>
Net income<\/td>14,974 <\/td><\/td><\/td>12,587 <\/td><\/td><\/td>5,644 <\/td><\/td><\/tr>
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries<\/td>(23)<\/td><\/td><\/td>31 <\/td><\/td><\/td>125 <\/td><\/td><\/tr>
Net income attributable to common stockholders<\/td>$<\/td>14,997 <\/td><\/td><\/td>$<\/td>12,556 <\/td><\/td><\/td>$<\/td>5,519 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share of common stock attributable to common stockholders<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>4.73 <\/td><\/td><\/td>$<\/td>4.02 <\/td><\/td><\/td>$<\/td>1.87 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>4.30 <\/td><\/td><\/td>$<\/td>3.62 <\/td><\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Weighted average shares used in computing net income per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>3,174<\/td><\/td>3,130<\/td><\/td>2,959<\/td><\/tr>
Diluted<\/td>3,485<\/td><\/td>3,475<\/td><\/td>3,386<\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n"} +{"QID":"q_Ra163","Question":"What was the net change in Tesla's total liabilities from 2022 to 2023?","ground_truth_answer":"The net change in Tesla's total liabilities from 2022 to 2023 was an increase of $6,569 million, which is approximately 18.0%.","question_type":"Ratio","page_number":49,"accession_number":"0001628280-24-002390","item":"ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA","context_markdown_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 49: Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------------|:--------|:-----------------|:-------|:---|:-------|\n| 1 | | December 31,2023 | | December 31,2022 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 16,398 | | | $ | 16,253 |\n| 5 | Short-term investments | 12,696 | | | 5,932 | | |\n| 6 | Accounts receivable, net | 3,508 | | | 2,952 | | |\n| 7 | Inventory | 13,626 | | | 12,839 | | |\n| 8 | Prepaid expenses and other current assets | 3,388 | | | 2,941 | | |\n| 9 | Total current assets | 49,616 | | | 40,917 | | |\n| 10 | Operating lease vehicles, net | 5,989 | | | 5,035 | | |\n| 11 | Solar energy systems, net | 5,229 | | | 5,489 | | |\n| 12 | Property, plant and equipment, net | 29,725 | | | 23,548 | | |\n| 13 | Operating lease right-of-use assets | 4,180 | | | 2,563 | | |\n| 14 | Digital assets, net | 184 | | | 184 | | |\n| 15 | Intangible assets, net | 178 | | | 215 | | |\n| 16 | Goodwill | 253 | | | 194 | | |\n| 17 | Deferred tax assets | 6,733 | | | 328 | | |\n| 18 | Other non-current assets | 4,531 | | | 3,865 | | |\n| 19 | Total assets | $ | 106,618 | | | $ | 82,338 |\n| 20 | Liabilities | | | | | | |\n| 21 | Current liabilities | | | | | | |\n| 22 | Accounts payable | $ | 14,431 | | | $ | 15,255 |\n| 23 | Accrued liabilities and other | 9,080 | | | 8,205 | | |\n| 24 | Deferred revenue | 2,864 | | | 1,747 | | |\n| 25 | Current portion of debt and finance leases | 2,373 | | | 1,502 | | |\n| 26 | Total current liabilities | 28,748 | | | 26,709 | | |\n| 27 | Debt and finance leases, net of current portion | 2,857 | | | 1,597 | | |\n| 28 | Deferred revenue, net of current portion | 3,251 | | | 2,804 | | |\n| 29 | Other long-term liabilities | 8,153 | | | 5,330 | | |\n| 30 | Total liabilities | 43,009 | | | 36,440 | | |\n| 31 | Commitments and contingencies (Note 15) | | | | | | |\n| 32 | Redeemable noncontrolling interests in subsidiaries | 242 | | | 409 | | |\n| 33 | Equity | | | | | | |\n| 34 | Stockholders' equity | | | | | | |\n| 35 | Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding | - | | | - | | |\n| 36 | Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 3 | | | 3 | | |\n| 37 | Additional paid-in capital | 34,892 | | | 32,177 | | |\n| 38 | Accumulated other comprehensive loss | (143) | | | (361) | | |\n| 39 | Retained earnings | 27,882 | | | 12,885 | | |\n| 40 | Total stockholders' equity | 62,634 | | | 44,704 | | |\n| 41 | Noncontrolling interests in subsidiaries | 733 | | | 785 | | |\n| 42 | Total liabilities and equity | $ | 106,618 | | | $ | 82,338 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n","context_markdown_without_headers":"Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------------|:--------|:-----------------|:-------|:---|:-------|\n| 1 | | December 31,2023 | | December 31,2022 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 16,398 | | | $ | 16,253 |\n| 5 | Short-term investments | 12,696 | | | 5,932 | | |\n| 6 | Accounts receivable, net | 3,508 | | | 2,952 | | |\n| 7 | Inventory | 13,626 | | | 12,839 | | |\n| 8 | Prepaid expenses and other current assets | 3,388 | | | 2,941 | | |\n| 9 | Total current assets | 49,616 | | | 40,917 | | |\n| 10 | Operating lease vehicles, net | 5,989 | | | 5,035 | | |\n| 11 | Solar energy systems, net | 5,229 | | | 5,489 | | |\n| 12 | Property, plant and equipment, net | 29,725 | | | 23,548 | | |\n| 13 | Operating lease right-of-use assets | 4,180 | | | 2,563 | | |\n| 14 | Digital assets, net | 184 | | | 184 | | |\n| 15 | Intangible assets, net | 178 | | | 215 | | |\n| 16 | Goodwill | 253 | | | 194 | | |\n| 17 | Deferred tax assets | 6,733 | | | 328 | | |\n| 18 | Other non-current assets | 4,531 | | | 3,865 | | |\n| 19 | Total assets | $ | 106,618 | | | $ | 82,338 |\n| 20 | Liabilities | | | | | | |\n| 21 | Current liabilities | | | | | | |\n| 22 | Accounts payable | $ | 14,431 | | | $ | 15,255 |\n| 23 | Accrued liabilities and other | 9,080 | | | 8,205 | | |\n| 24 | Deferred revenue | 2,864 | | | 1,747 | | |\n| 25 | Current portion of debt and finance leases | 2,373 | | | 1,502 | | |\n| 26 | Total current liabilities | 28,748 | | | 26,709 | | |\n| 27 | Debt and finance leases, net of current portion | 2,857 | | | 1,597 | | |\n| 28 | Deferred revenue, net of current portion | 3,251 | | | 2,804 | | |\n| 29 | Other long-term liabilities | 8,153 | | | 5,330 | | |\n| 30 | Total liabilities | 43,009 | | | 36,440 | | |\n| 31 | Commitments and contingencies (Note 15) | | | | | | |\n| 32 | Redeemable noncontrolling interests in subsidiaries | 242 | | | 409 | | |\n| 33 | Equity | | | | | | |\n| 34 | Stockholders' equity | | | | | | |\n| 35 | Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding | - | | | - | | |\n| 36 | Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 3 | | | 3 | | |\n| 37 | Additional paid-in capital | 34,892 | | | 32,177 | | |\n| 38 | Accumulated other comprehensive loss | (143) | | | (361) | | |\n| 39 | Retained earnings | 27,882 | | | 12,885 | | |\n| 40 | Total stockholders' equity | 62,634 | | | 44,704 | | |\n| 41 | Noncontrolling interests in subsidiaries | 733 | | | 785 | | |\n| 42 | Total liabilities and equity | $ | 106,618 | | | $ | 82,338 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n","context_html_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 49: Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,2023<\/td><\/td>December 31,2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>16,398 <\/td><\/td><\/td>$<\/td>16,253 <\/td><\/td><\/tr>
Short-term investments<\/td>12,696 <\/td><\/td><\/td>5,932 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>3,508 <\/td><\/td><\/td>2,952 <\/td><\/td><\/tr>
Inventory<\/td>13,626 <\/td><\/td><\/td>12,839 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,388 <\/td><\/td><\/td>2,941 <\/td><\/td><\/tr>
Total current assets<\/td>49,616 <\/td><\/td><\/td>40,917 <\/td><\/td><\/tr>
Operating lease vehicles, net<\/td>5,989 <\/td><\/td><\/td>5,035 <\/td><\/td><\/tr>
Solar energy systems, net<\/td>5,229 <\/td><\/td><\/td>5,489 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>29,725 <\/td><\/td><\/td>23,548 <\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>4,180 <\/td><\/td><\/td>2,563 <\/td><\/td><\/tr>
Digital assets, net<\/td>184 <\/td><\/td><\/td>184 <\/td><\/td><\/tr>
Intangible assets, net<\/td>178 <\/td><\/td><\/td>215 <\/td><\/td><\/tr>
Goodwill<\/td>253 <\/td><\/td><\/td>194 <\/td><\/td><\/tr>
Deferred tax assets<\/td>6,733 <\/td><\/td><\/td>328 <\/td><\/td><\/tr>
Other non-current assets<\/td>4,531 <\/td><\/td><\/td>3,865 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>14,431 <\/td><\/td><\/td>$<\/td>15,255 <\/td><\/td><\/tr>
Accrued liabilities and other<\/td>9,080 <\/td><\/td><\/td>8,205 <\/td><\/td><\/tr>
Deferred revenue<\/td>2,864 <\/td><\/td><\/td>1,747 <\/td><\/td><\/tr>
Current portion of debt and finance leases<\/td>2,373 <\/td><\/td><\/td>1,502 <\/td><\/td><\/tr>
Total current liabilities<\/td>28,748 <\/td><\/td><\/td>26,709 <\/td><\/td><\/tr>
Debt and finance leases, net of current portion<\/td>2,857 <\/td><\/td><\/td>1,597 <\/td><\/td><\/tr>
Deferred revenue, net of current portion<\/td>3,251 <\/td><\/td><\/td>2,804 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>8,153 <\/td><\/td><\/td>5,330 <\/td><\/td><\/tr>
Total liabilities<\/td>43,009 <\/td><\/td><\/td>36,440 <\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td><\/td><\/td><\/td><\/tr>
Redeemable noncontrolling interests in subsidiaries<\/td>242 <\/td><\/td><\/td>409 <\/td><\/td><\/tr>
Equity<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively<\/td>3 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>34,892 <\/td><\/td><\/td>32,177 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(143)<\/td><\/td><\/td>(361)<\/td><\/td><\/tr>
Retained earnings<\/td>27,882 <\/td><\/td><\/td>12,885 <\/td><\/td><\/tr>
Total stockholders' equity<\/td>62,634 <\/td><\/td><\/td>44,704 <\/td><\/td><\/tr>
Noncontrolling interests in subsidiaries<\/td>733 <\/td><\/td><\/td>785 <\/td><\/td><\/tr>
Total liabilities and equity<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n","context_html_without_headers":"Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,2023<\/td><\/td>December 31,2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>16,398 <\/td><\/td><\/td>$<\/td>16,253 <\/td><\/td><\/tr>
Short-term investments<\/td>12,696 <\/td><\/td><\/td>5,932 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>3,508 <\/td><\/td><\/td>2,952 <\/td><\/td><\/tr>
Inventory<\/td>13,626 <\/td><\/td><\/td>12,839 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,388 <\/td><\/td><\/td>2,941 <\/td><\/td><\/tr>
Total current assets<\/td>49,616 <\/td><\/td><\/td>40,917 <\/td><\/td><\/tr>
Operating lease vehicles, net<\/td>5,989 <\/td><\/td><\/td>5,035 <\/td><\/td><\/tr>
Solar energy systems, net<\/td>5,229 <\/td><\/td><\/td>5,489 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>29,725 <\/td><\/td><\/td>23,548 <\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>4,180 <\/td><\/td><\/td>2,563 <\/td><\/td><\/tr>
Digital assets, net<\/td>184 <\/td><\/td><\/td>184 <\/td><\/td><\/tr>
Intangible assets, net<\/td>178 <\/td><\/td><\/td>215 <\/td><\/td><\/tr>
Goodwill<\/td>253 <\/td><\/td><\/td>194 <\/td><\/td><\/tr>
Deferred tax assets<\/td>6,733 <\/td><\/td><\/td>328 <\/td><\/td><\/tr>
Other non-current assets<\/td>4,531 <\/td><\/td><\/td>3,865 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>14,431 <\/td><\/td><\/td>$<\/td>15,255 <\/td><\/td><\/tr>
Accrued liabilities and other<\/td>9,080 <\/td><\/td><\/td>8,205 <\/td><\/td><\/tr>
Deferred revenue<\/td>2,864 <\/td><\/td><\/td>1,747 <\/td><\/td><\/tr>
Current portion of debt and finance leases<\/td>2,373 <\/td><\/td><\/td>1,502 <\/td><\/td><\/tr>
Total current liabilities<\/td>28,748 <\/td><\/td><\/td>26,709 <\/td><\/td><\/tr>
Debt and finance leases, net of current portion<\/td>2,857 <\/td><\/td><\/td>1,597 <\/td><\/td><\/tr>
Deferred revenue, net of current portion<\/td>3,251 <\/td><\/td><\/td>2,804 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>8,153 <\/td><\/td><\/td>5,330 <\/td><\/td><\/tr>
Total liabilities<\/td>43,009 <\/td><\/td><\/td>36,440 <\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td><\/td><\/td><\/td><\/tr>
Redeemable noncontrolling interests in subsidiaries<\/td>242 <\/td><\/td><\/td>409 <\/td><\/td><\/tr>
Equity<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively<\/td>3 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>34,892 <\/td><\/td><\/td>32,177 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(143)<\/td><\/td><\/td>(361)<\/td><\/td><\/tr>
Retained earnings<\/td>27,882 <\/td><\/td><\/td>12,885 <\/td><\/td><\/tr>
Total stockholders' equity<\/td>62,634 <\/td><\/td><\/td>44,704 <\/td><\/td><\/tr>
Noncontrolling interests in subsidiaries<\/td>733 <\/td><\/td><\/td>785 <\/td><\/td><\/tr>
Total liabilities and equity<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n"} +{"QID":"q_Ra164","Question":"What was Tesla's current ratio in 2023?","ground_truth_answer":"To calculate Tesla's current ratio for 2023, we use the formula: Current Ratio = Total Current Assets \/ Total Current Liabilities. For 2023, Current Ratio = $49,616 million \/ $28,748 million = 1.73.","question_type":"Ratio","page_number":49,"accession_number":"0001628280-24-002390","item":"ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA","context_markdown_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 49: Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------------|:--------|:-----------------|:-------|:---|:-------|\n| 1 | | December 31,2023 | | December 31,2022 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 16,398 | | | $ | 16,253 |\n| 5 | Short-term investments | 12,696 | | | 5,932 | | |\n| 6 | Accounts receivable, net | 3,508 | | | 2,952 | | |\n| 7 | Inventory | 13,626 | | | 12,839 | | |\n| 8 | Prepaid expenses and other current assets | 3,388 | | | 2,941 | | |\n| 9 | Total current assets | 49,616 | | | 40,917 | | |\n| 10 | Operating lease vehicles, net | 5,989 | | | 5,035 | | |\n| 11 | Solar energy systems, net | 5,229 | | | 5,489 | | |\n| 12 | Property, plant and equipment, net | 29,725 | | | 23,548 | | |\n| 13 | Operating lease right-of-use assets | 4,180 | | | 2,563 | | |\n| 14 | Digital assets, net | 184 | | | 184 | | |\n| 15 | Intangible assets, net | 178 | | | 215 | | |\n| 16 | Goodwill | 253 | | | 194 | | |\n| 17 | Deferred tax assets | 6,733 | | | 328 | | |\n| 18 | Other non-current assets | 4,531 | | | 3,865 | | |\n| 19 | Total assets | $ | 106,618 | | | $ | 82,338 |\n| 20 | Liabilities | | | | | | |\n| 21 | Current liabilities | | | | | | |\n| 22 | Accounts payable | $ | 14,431 | | | $ | 15,255 |\n| 23 | Accrued liabilities and other | 9,080 | | | 8,205 | | |\n| 24 | Deferred revenue | 2,864 | | | 1,747 | | |\n| 25 | Current portion of debt and finance leases | 2,373 | | | 1,502 | | |\n| 26 | Total current liabilities | 28,748 | | | 26,709 | | |\n| 27 | Debt and finance leases, net of current portion | 2,857 | | | 1,597 | | |\n| 28 | Deferred revenue, net of current portion | 3,251 | | | 2,804 | | |\n| 29 | Other long-term liabilities | 8,153 | | | 5,330 | | |\n| 30 | Total liabilities | 43,009 | | | 36,440 | | |\n| 31 | Commitments and contingencies (Note 15) | | | | | | |\n| 32 | Redeemable noncontrolling interests in subsidiaries | 242 | | | 409 | | |\n| 33 | Equity | | | | | | |\n| 34 | Stockholders' equity | | | | | | |\n| 35 | Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding | - | | | - | | |\n| 36 | Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 3 | | | 3 | | |\n| 37 | Additional paid-in capital | 34,892 | | | 32,177 | | |\n| 38 | Accumulated other comprehensive loss | (143) | | | (361) | | |\n| 39 | Retained earnings | 27,882 | | | 12,885 | | |\n| 40 | Total stockholders' equity | 62,634 | | | 44,704 | | |\n| 41 | Noncontrolling interests in subsidiaries | 733 | | | 785 | | |\n| 42 | Total liabilities and equity | $ | 106,618 | | | $ | 82,338 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n","context_markdown_without_headers":"Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------------|:--------|:-----------------|:-------|:---|:-------|\n| 1 | | December 31,2023 | | December 31,2022 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 16,398 | | | $ | 16,253 |\n| 5 | Short-term investments | 12,696 | | | 5,932 | | |\n| 6 | Accounts receivable, net | 3,508 | | | 2,952 | | |\n| 7 | Inventory | 13,626 | | | 12,839 | | |\n| 8 | Prepaid expenses and other current assets | 3,388 | | | 2,941 | | |\n| 9 | Total current assets | 49,616 | | | 40,917 | | |\n| 10 | Operating lease vehicles, net | 5,989 | | | 5,035 | | |\n| 11 | Solar energy systems, net | 5,229 | | | 5,489 | | |\n| 12 | Property, plant and equipment, net | 29,725 | | | 23,548 | | |\n| 13 | Operating lease right-of-use assets | 4,180 | | | 2,563 | | |\n| 14 | Digital assets, net | 184 | | | 184 | | |\n| 15 | Intangible assets, net | 178 | | | 215 | | |\n| 16 | Goodwill | 253 | | | 194 | | |\n| 17 | Deferred tax assets | 6,733 | | | 328 | | |\n| 18 | Other non-current assets | 4,531 | | | 3,865 | | |\n| 19 | Total assets | $ | 106,618 | | | $ | 82,338 |\n| 20 | Liabilities | | | | | | |\n| 21 | Current liabilities | | | | | | |\n| 22 | Accounts payable | $ | 14,431 | | | $ | 15,255 |\n| 23 | Accrued liabilities and other | 9,080 | | | 8,205 | | |\n| 24 | Deferred revenue | 2,864 | | | 1,747 | | |\n| 25 | Current portion of debt and finance leases | 2,373 | | | 1,502 | | |\n| 26 | Total current liabilities | 28,748 | | | 26,709 | | |\n| 27 | Debt and finance leases, net of current portion | 2,857 | | | 1,597 | | |\n| 28 | Deferred revenue, net of current portion | 3,251 | | | 2,804 | | |\n| 29 | Other long-term liabilities | 8,153 | | | 5,330 | | |\n| 30 | Total liabilities | 43,009 | | | 36,440 | | |\n| 31 | Commitments and contingencies (Note 15) | | | | | | |\n| 32 | Redeemable noncontrolling interests in subsidiaries | 242 | | | 409 | | |\n| 33 | Equity | | | | | | |\n| 34 | Stockholders' equity | | | | | | |\n| 35 | Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding | - | | | - | | |\n| 36 | Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 3 | | | 3 | | |\n| 37 | Additional paid-in capital | 34,892 | | | 32,177 | | |\n| 38 | Accumulated other comprehensive loss | (143) | | | (361) | | |\n| 39 | Retained earnings | 27,882 | | | 12,885 | | |\n| 40 | Total stockholders' equity | 62,634 | | | 44,704 | | |\n| 41 | Noncontrolling interests in subsidiaries | 733 | | | 785 | | |\n| 42 | Total liabilities and equity | $ | 106,618 | | | $ | 82,338 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n","context_html_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 49: Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,2023<\/td><\/td>December 31,2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>16,398 <\/td><\/td><\/td>$<\/td>16,253 <\/td><\/td><\/tr>
Short-term investments<\/td>12,696 <\/td><\/td><\/td>5,932 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>3,508 <\/td><\/td><\/td>2,952 <\/td><\/td><\/tr>
Inventory<\/td>13,626 <\/td><\/td><\/td>12,839 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,388 <\/td><\/td><\/td>2,941 <\/td><\/td><\/tr>
Total current assets<\/td>49,616 <\/td><\/td><\/td>40,917 <\/td><\/td><\/tr>
Operating lease vehicles, net<\/td>5,989 <\/td><\/td><\/td>5,035 <\/td><\/td><\/tr>
Solar energy systems, net<\/td>5,229 <\/td><\/td><\/td>5,489 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>29,725 <\/td><\/td><\/td>23,548 <\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>4,180 <\/td><\/td><\/td>2,563 <\/td><\/td><\/tr>
Digital assets, net<\/td>184 <\/td><\/td><\/td>184 <\/td><\/td><\/tr>
Intangible assets, net<\/td>178 <\/td><\/td><\/td>215 <\/td><\/td><\/tr>
Goodwill<\/td>253 <\/td><\/td><\/td>194 <\/td><\/td><\/tr>
Deferred tax assets<\/td>6,733 <\/td><\/td><\/td>328 <\/td><\/td><\/tr>
Other non-current assets<\/td>4,531 <\/td><\/td><\/td>3,865 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>14,431 <\/td><\/td><\/td>$<\/td>15,255 <\/td><\/td><\/tr>
Accrued liabilities and other<\/td>9,080 <\/td><\/td><\/td>8,205 <\/td><\/td><\/tr>
Deferred revenue<\/td>2,864 <\/td><\/td><\/td>1,747 <\/td><\/td><\/tr>
Current portion of debt and finance leases<\/td>2,373 <\/td><\/td><\/td>1,502 <\/td><\/td><\/tr>
Total current liabilities<\/td>28,748 <\/td><\/td><\/td>26,709 <\/td><\/td><\/tr>
Debt and finance leases, net of current portion<\/td>2,857 <\/td><\/td><\/td>1,597 <\/td><\/td><\/tr>
Deferred revenue, net of current portion<\/td>3,251 <\/td><\/td><\/td>2,804 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>8,153 <\/td><\/td><\/td>5,330 <\/td><\/td><\/tr>
Total liabilities<\/td>43,009 <\/td><\/td><\/td>36,440 <\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td><\/td><\/td><\/td><\/tr>
Redeemable noncontrolling interests in subsidiaries<\/td>242 <\/td><\/td><\/td>409 <\/td><\/td><\/tr>
Equity<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively<\/td>3 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>34,892 <\/td><\/td><\/td>32,177 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(143)<\/td><\/td><\/td>(361)<\/td><\/td><\/tr>
Retained earnings<\/td>27,882 <\/td><\/td><\/td>12,885 <\/td><\/td><\/tr>
Total stockholders' equity<\/td>62,634 <\/td><\/td><\/td>44,704 <\/td><\/td><\/tr>
Noncontrolling interests in subsidiaries<\/td>733 <\/td><\/td><\/td>785 <\/td><\/td><\/tr>
Total liabilities and equity<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n","context_html_without_headers":"Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,2023<\/td><\/td>December 31,2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>16,398 <\/td><\/td><\/td>$<\/td>16,253 <\/td><\/td><\/tr>
Short-term investments<\/td>12,696 <\/td><\/td><\/td>5,932 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>3,508 <\/td><\/td><\/td>2,952 <\/td><\/td><\/tr>
Inventory<\/td>13,626 <\/td><\/td><\/td>12,839 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,388 <\/td><\/td><\/td>2,941 <\/td><\/td><\/tr>
Total current assets<\/td>49,616 <\/td><\/td><\/td>40,917 <\/td><\/td><\/tr>
Operating lease vehicles, net<\/td>5,989 <\/td><\/td><\/td>5,035 <\/td><\/td><\/tr>
Solar energy systems, net<\/td>5,229 <\/td><\/td><\/td>5,489 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>29,725 <\/td><\/td><\/td>23,548 <\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>4,180 <\/td><\/td><\/td>2,563 <\/td><\/td><\/tr>
Digital assets, net<\/td>184 <\/td><\/td><\/td>184 <\/td><\/td><\/tr>
Intangible assets, net<\/td>178 <\/td><\/td><\/td>215 <\/td><\/td><\/tr>
Goodwill<\/td>253 <\/td><\/td><\/td>194 <\/td><\/td><\/tr>
Deferred tax assets<\/td>6,733 <\/td><\/td><\/td>328 <\/td><\/td><\/tr>
Other non-current assets<\/td>4,531 <\/td><\/td><\/td>3,865 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>14,431 <\/td><\/td><\/td>$<\/td>15,255 <\/td><\/td><\/tr>
Accrued liabilities and other<\/td>9,080 <\/td><\/td><\/td>8,205 <\/td><\/td><\/tr>
Deferred revenue<\/td>2,864 <\/td><\/td><\/td>1,747 <\/td><\/td><\/tr>
Current portion of debt and finance leases<\/td>2,373 <\/td><\/td><\/td>1,502 <\/td><\/td><\/tr>
Total current liabilities<\/td>28,748 <\/td><\/td><\/td>26,709 <\/td><\/td><\/tr>
Debt and finance leases, net of current portion<\/td>2,857 <\/td><\/td><\/td>1,597 <\/td><\/td><\/tr>
Deferred revenue, net of current portion<\/td>3,251 <\/td><\/td><\/td>2,804 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>8,153 <\/td><\/td><\/td>5,330 <\/td><\/td><\/tr>
Total liabilities<\/td>43,009 <\/td><\/td><\/td>36,440 <\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td><\/td><\/td><\/td><\/tr>
Redeemable noncontrolling interests in subsidiaries<\/td>242 <\/td><\/td><\/td>409 <\/td><\/td><\/tr>
Equity<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively<\/td>3 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>34,892 <\/td><\/td><\/td>32,177 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(143)<\/td><\/td><\/td>(361)<\/td><\/td><\/tr>
Retained earnings<\/td>27,882 <\/td><\/td><\/td>12,885 <\/td><\/td><\/tr>
Total stockholders' equity<\/td>62,634 <\/td><\/td><\/td>44,704 <\/td><\/td><\/tr>
Noncontrolling interests in subsidiaries<\/td>733 <\/td><\/td><\/td>785 <\/td><\/td><\/tr>
Total liabilities and equity<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n"} +{"QID":"q_Ra165","Question":"What was Tesla's quick ratio in 2022?","ground_truth_answer":"To calculate Tesla's quick ratio for 2022, we use the formula: Quick Ratio = (Total Current Assets - Inventory) \/ Total Current Liabilities. For 2022, Quick Ratio = ($40,917 million - $12,839 million) \/ $26,709 million = 1.05.","question_type":"Ratio","page_number":49,"accession_number":"0001628280-24-002390","item":"ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA","context_markdown_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 49: Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------------|:--------|:-----------------|:-------|:---|:-------|\n| 1 | | December 31,2023 | | December 31,2022 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 16,398 | | | $ | 16,253 |\n| 5 | Short-term investments | 12,696 | | | 5,932 | | |\n| 6 | Accounts receivable, net | 3,508 | | | 2,952 | | |\n| 7 | Inventory | 13,626 | | | 12,839 | | |\n| 8 | Prepaid expenses and other current assets | 3,388 | | | 2,941 | | |\n| 9 | Total current assets | 49,616 | | | 40,917 | | |\n| 10 | Operating lease vehicles, net | 5,989 | | | 5,035 | | |\n| 11 | Solar energy systems, net | 5,229 | | | 5,489 | | |\n| 12 | Property, plant and equipment, net | 29,725 | | | 23,548 | | |\n| 13 | Operating lease right-of-use assets | 4,180 | | | 2,563 | | |\n| 14 | Digital assets, net | 184 | | | 184 | | |\n| 15 | Intangible assets, net | 178 | | | 215 | | |\n| 16 | Goodwill | 253 | | | 194 | | |\n| 17 | Deferred tax assets | 6,733 | | | 328 | | |\n| 18 | Other non-current assets | 4,531 | | | 3,865 | | |\n| 19 | Total assets | $ | 106,618 | | | $ | 82,338 |\n| 20 | Liabilities | | | | | | |\n| 21 | Current liabilities | | | | | | |\n| 22 | Accounts payable | $ | 14,431 | | | $ | 15,255 |\n| 23 | Accrued liabilities and other | 9,080 | | | 8,205 | | |\n| 24 | Deferred revenue | 2,864 | | | 1,747 | | |\n| 25 | Current portion of debt and finance leases | 2,373 | | | 1,502 | | |\n| 26 | Total current liabilities | 28,748 | | | 26,709 | | |\n| 27 | Debt and finance leases, net of current portion | 2,857 | | | 1,597 | | |\n| 28 | Deferred revenue, net of current portion | 3,251 | | | 2,804 | | |\n| 29 | Other long-term liabilities | 8,153 | | | 5,330 | | |\n| 30 | Total liabilities | 43,009 | | | 36,440 | | |\n| 31 | Commitments and contingencies (Note 15) | | | | | | |\n| 32 | Redeemable noncontrolling interests in subsidiaries | 242 | | | 409 | | |\n| 33 | Equity | | | | | | |\n| 34 | Stockholders' equity | | | | | | |\n| 35 | Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding | - | | | - | | |\n| 36 | Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 3 | | | 3 | | |\n| 37 | Additional paid-in capital | 34,892 | | | 32,177 | | |\n| 38 | Accumulated other comprehensive loss | (143) | | | (361) | | |\n| 39 | Retained earnings | 27,882 | | | 12,885 | | |\n| 40 | Total stockholders' equity | 62,634 | | | 44,704 | | |\n| 41 | Noncontrolling interests in subsidiaries | 733 | | | 785 | | |\n| 42 | Total liabilities and equity | $ | 106,618 | | | $ | 82,338 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n","context_markdown_without_headers":"Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------------|:--------|:-----------------|:-------|:---|:-------|\n| 1 | | December 31,2023 | | December 31,2022 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 16,398 | | | $ | 16,253 |\n| 5 | Short-term investments | 12,696 | | | 5,932 | | |\n| 6 | Accounts receivable, net | 3,508 | | | 2,952 | | |\n| 7 | Inventory | 13,626 | | | 12,839 | | |\n| 8 | Prepaid expenses and other current assets | 3,388 | | | 2,941 | | |\n| 9 | Total current assets | 49,616 | | | 40,917 | | |\n| 10 | Operating lease vehicles, net | 5,989 | | | 5,035 | | |\n| 11 | Solar energy systems, net | 5,229 | | | 5,489 | | |\n| 12 | Property, plant and equipment, net | 29,725 | | | 23,548 | | |\n| 13 | Operating lease right-of-use assets | 4,180 | | | 2,563 | | |\n| 14 | Digital assets, net | 184 | | | 184 | | |\n| 15 | Intangible assets, net | 178 | | | 215 | | |\n| 16 | Goodwill | 253 | | | 194 | | |\n| 17 | Deferred tax assets | 6,733 | | | 328 | | |\n| 18 | Other non-current assets | 4,531 | | | 3,865 | | |\n| 19 | Total assets | $ | 106,618 | | | $ | 82,338 |\n| 20 | Liabilities | | | | | | |\n| 21 | Current liabilities | | | | | | |\n| 22 | Accounts payable | $ | 14,431 | | | $ | 15,255 |\n| 23 | Accrued liabilities and other | 9,080 | | | 8,205 | | |\n| 24 | Deferred revenue | 2,864 | | | 1,747 | | |\n| 25 | Current portion of debt and finance leases | 2,373 | | | 1,502 | | |\n| 26 | Total current liabilities | 28,748 | | | 26,709 | | |\n| 27 | Debt and finance leases, net of current portion | 2,857 | | | 1,597 | | |\n| 28 | Deferred revenue, net of current portion | 3,251 | | | 2,804 | | |\n| 29 | Other long-term liabilities | 8,153 | | | 5,330 | | |\n| 30 | Total liabilities | 43,009 | | | 36,440 | | |\n| 31 | Commitments and contingencies (Note 15) | | | | | | |\n| 32 | Redeemable noncontrolling interests in subsidiaries | 242 | | | 409 | | |\n| 33 | Equity | | | | | | |\n| 34 | Stockholders' equity | | | | | | |\n| 35 | Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding | - | | | - | | |\n| 36 | Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 3 | | | 3 | | |\n| 37 | Additional paid-in capital | 34,892 | | | 32,177 | | |\n| 38 | Accumulated other comprehensive loss | (143) | | | (361) | | |\n| 39 | Retained earnings | 27,882 | | | 12,885 | | |\n| 40 | Total stockholders' equity | 62,634 | | | 44,704 | | |\n| 41 | Noncontrolling interests in subsidiaries | 733 | | | 785 | | |\n| 42 | Total liabilities and equity | $ | 106,618 | | | $ | 82,338 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n","context_html_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 49: Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,2023<\/td><\/td>December 31,2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>16,398 <\/td><\/td><\/td>$<\/td>16,253 <\/td><\/td><\/tr>
Short-term investments<\/td>12,696 <\/td><\/td><\/td>5,932 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>3,508 <\/td><\/td><\/td>2,952 <\/td><\/td><\/tr>
Inventory<\/td>13,626 <\/td><\/td><\/td>12,839 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,388 <\/td><\/td><\/td>2,941 <\/td><\/td><\/tr>
Total current assets<\/td>49,616 <\/td><\/td><\/td>40,917 <\/td><\/td><\/tr>
Operating lease vehicles, net<\/td>5,989 <\/td><\/td><\/td>5,035 <\/td><\/td><\/tr>
Solar energy systems, net<\/td>5,229 <\/td><\/td><\/td>5,489 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>29,725 <\/td><\/td><\/td>23,548 <\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>4,180 <\/td><\/td><\/td>2,563 <\/td><\/td><\/tr>
Digital assets, net<\/td>184 <\/td><\/td><\/td>184 <\/td><\/td><\/tr>
Intangible assets, net<\/td>178 <\/td><\/td><\/td>215 <\/td><\/td><\/tr>
Goodwill<\/td>253 <\/td><\/td><\/td>194 <\/td><\/td><\/tr>
Deferred tax assets<\/td>6,733 <\/td><\/td><\/td>328 <\/td><\/td><\/tr>
Other non-current assets<\/td>4,531 <\/td><\/td><\/td>3,865 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>14,431 <\/td><\/td><\/td>$<\/td>15,255 <\/td><\/td><\/tr>
Accrued liabilities and other<\/td>9,080 <\/td><\/td><\/td>8,205 <\/td><\/td><\/tr>
Deferred revenue<\/td>2,864 <\/td><\/td><\/td>1,747 <\/td><\/td><\/tr>
Current portion of debt and finance leases<\/td>2,373 <\/td><\/td><\/td>1,502 <\/td><\/td><\/tr>
Total current liabilities<\/td>28,748 <\/td><\/td><\/td>26,709 <\/td><\/td><\/tr>
Debt and finance leases, net of current portion<\/td>2,857 <\/td><\/td><\/td>1,597 <\/td><\/td><\/tr>
Deferred revenue, net of current portion<\/td>3,251 <\/td><\/td><\/td>2,804 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>8,153 <\/td><\/td><\/td>5,330 <\/td><\/td><\/tr>
Total liabilities<\/td>43,009 <\/td><\/td><\/td>36,440 <\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td><\/td><\/td><\/td><\/tr>
Redeemable noncontrolling interests in subsidiaries<\/td>242 <\/td><\/td><\/td>409 <\/td><\/td><\/tr>
Equity<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively<\/td>3 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>34,892 <\/td><\/td><\/td>32,177 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(143)<\/td><\/td><\/td>(361)<\/td><\/td><\/tr>
Retained earnings<\/td>27,882 <\/td><\/td><\/td>12,885 <\/td><\/td><\/tr>
Total stockholders' equity<\/td>62,634 <\/td><\/td><\/td>44,704 <\/td><\/td><\/tr>
Noncontrolling interests in subsidiaries<\/td>733 <\/td><\/td><\/td>785 <\/td><\/td><\/tr>
Total liabilities and equity<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n","context_html_without_headers":"Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,2023<\/td><\/td>December 31,2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>16,398 <\/td><\/td><\/td>$<\/td>16,253 <\/td><\/td><\/tr>
Short-term investments<\/td>12,696 <\/td><\/td><\/td>5,932 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>3,508 <\/td><\/td><\/td>2,952 <\/td><\/td><\/tr>
Inventory<\/td>13,626 <\/td><\/td><\/td>12,839 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,388 <\/td><\/td><\/td>2,941 <\/td><\/td><\/tr>
Total current assets<\/td>49,616 <\/td><\/td><\/td>40,917 <\/td><\/td><\/tr>
Operating lease vehicles, net<\/td>5,989 <\/td><\/td><\/td>5,035 <\/td><\/td><\/tr>
Solar energy systems, net<\/td>5,229 <\/td><\/td><\/td>5,489 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>29,725 <\/td><\/td><\/td>23,548 <\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>4,180 <\/td><\/td><\/td>2,563 <\/td><\/td><\/tr>
Digital assets, net<\/td>184 <\/td><\/td><\/td>184 <\/td><\/td><\/tr>
Intangible assets, net<\/td>178 <\/td><\/td><\/td>215 <\/td><\/td><\/tr>
Goodwill<\/td>253 <\/td><\/td><\/td>194 <\/td><\/td><\/tr>
Deferred tax assets<\/td>6,733 <\/td><\/td><\/td>328 <\/td><\/td><\/tr>
Other non-current assets<\/td>4,531 <\/td><\/td><\/td>3,865 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>14,431 <\/td><\/td><\/td>$<\/td>15,255 <\/td><\/td><\/tr>
Accrued liabilities and other<\/td>9,080 <\/td><\/td><\/td>8,205 <\/td><\/td><\/tr>
Deferred revenue<\/td>2,864 <\/td><\/td><\/td>1,747 <\/td><\/td><\/tr>
Current portion of debt and finance leases<\/td>2,373 <\/td><\/td><\/td>1,502 <\/td><\/td><\/tr>
Total current liabilities<\/td>28,748 <\/td><\/td><\/td>26,709 <\/td><\/td><\/tr>
Debt and finance leases, net of current portion<\/td>2,857 <\/td><\/td><\/td>1,597 <\/td><\/td><\/tr>
Deferred revenue, net of current portion<\/td>3,251 <\/td><\/td><\/td>2,804 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>8,153 <\/td><\/td><\/td>5,330 <\/td><\/td><\/tr>
Total liabilities<\/td>43,009 <\/td><\/td><\/td>36,440 <\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td><\/td><\/td><\/td><\/tr>
Redeemable noncontrolling interests in subsidiaries<\/td>242 <\/td><\/td><\/td>409 <\/td><\/td><\/tr>
Equity<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively<\/td>3 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>34,892 <\/td><\/td><\/td>32,177 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(143)<\/td><\/td><\/td>(361)<\/td><\/td><\/tr>
Retained earnings<\/td>27,882 <\/td><\/td><\/td>12,885 <\/td><\/td><\/tr>
Total stockholders' equity<\/td>62,634 <\/td><\/td><\/td>44,704 <\/td><\/td><\/tr>
Noncontrolling interests in subsidiaries<\/td>733 <\/td><\/td><\/td>785 <\/td><\/td><\/tr>
Total liabilities and equity<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n"} +{"QID":"q_Ra166","Question":"What was the net change in Tesla's cash and cash equivalents from 2022 to 2023?","ground_truth_answer":"The net change in Tesla's cash and cash equivalents from 2022 to 2023 was an increase of $145 million, which is approximately 0.89%.","question_type":"Ratio","page_number":49,"accession_number":"0001628280-24-002390","item":"ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA","context_markdown_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 49: Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------------|:--------|:-----------------|:-------|:---|:-------|\n| 1 | | December 31,2023 | | December 31,2022 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 16,398 | | | $ | 16,253 |\n| 5 | Short-term investments | 12,696 | | | 5,932 | | |\n| 6 | Accounts receivable, net | 3,508 | | | 2,952 | | |\n| 7 | Inventory | 13,626 | | | 12,839 | | |\n| 8 | Prepaid expenses and other current assets | 3,388 | | | 2,941 | | |\n| 9 | Total current assets | 49,616 | | | 40,917 | | |\n| 10 | Operating lease vehicles, net | 5,989 | | | 5,035 | | |\n| 11 | Solar energy systems, net | 5,229 | | | 5,489 | | |\n| 12 | Property, plant and equipment, net | 29,725 | | | 23,548 | | |\n| 13 | Operating lease right-of-use assets | 4,180 | | | 2,563 | | |\n| 14 | Digital assets, net | 184 | | | 184 | | |\n| 15 | Intangible assets, net | 178 | | | 215 | | |\n| 16 | Goodwill | 253 | | | 194 | | |\n| 17 | Deferred tax assets | 6,733 | | | 328 | | |\n| 18 | Other non-current assets | 4,531 | | | 3,865 | | |\n| 19 | Total assets | $ | 106,618 | | | $ | 82,338 |\n| 20 | Liabilities | | | | | | |\n| 21 | Current liabilities | | | | | | |\n| 22 | Accounts payable | $ | 14,431 | | | $ | 15,255 |\n| 23 | Accrued liabilities and other | 9,080 | | | 8,205 | | |\n| 24 | Deferred revenue | 2,864 | | | 1,747 | | |\n| 25 | Current portion of debt and finance leases | 2,373 | | | 1,502 | | |\n| 26 | Total current liabilities | 28,748 | | | 26,709 | | |\n| 27 | Debt and finance leases, net of current portion | 2,857 | | | 1,597 | | |\n| 28 | Deferred revenue, net of current portion | 3,251 | | | 2,804 | | |\n| 29 | Other long-term liabilities | 8,153 | | | 5,330 | | |\n| 30 | Total liabilities | 43,009 | | | 36,440 | | |\n| 31 | Commitments and contingencies (Note 15) | | | | | | |\n| 32 | Redeemable noncontrolling interests in subsidiaries | 242 | | | 409 | | |\n| 33 | Equity | | | | | | |\n| 34 | Stockholders' equity | | | | | | |\n| 35 | Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding | - | | | - | | |\n| 36 | Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 3 | | | 3 | | |\n| 37 | Additional paid-in capital | 34,892 | | | 32,177 | | |\n| 38 | Accumulated other comprehensive loss | (143) | | | (361) | | |\n| 39 | Retained earnings | 27,882 | | | 12,885 | | |\n| 40 | Total stockholders' equity | 62,634 | | | 44,704 | | |\n| 41 | Noncontrolling interests in subsidiaries | 733 | | | 785 | | |\n| 42 | Total liabilities and equity | $ | 106,618 | | | $ | 82,338 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n","context_markdown_without_headers":"Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------------|:--------|:-----------------|:-------|:---|:-------|\n| 1 | | December 31,2023 | | December 31,2022 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 16,398 | | | $ | 16,253 |\n| 5 | Short-term investments | 12,696 | | | 5,932 | | |\n| 6 | Accounts receivable, net | 3,508 | | | 2,952 | | |\n| 7 | Inventory | 13,626 | | | 12,839 | | |\n| 8 | Prepaid expenses and other current assets | 3,388 | | | 2,941 | | |\n| 9 | Total current assets | 49,616 | | | 40,917 | | |\n| 10 | Operating lease vehicles, net | 5,989 | | | 5,035 | | |\n| 11 | Solar energy systems, net | 5,229 | | | 5,489 | | |\n| 12 | Property, plant and equipment, net | 29,725 | | | 23,548 | | |\n| 13 | Operating lease right-of-use assets | 4,180 | | | 2,563 | | |\n| 14 | Digital assets, net | 184 | | | 184 | | |\n| 15 | Intangible assets, net | 178 | | | 215 | | |\n| 16 | Goodwill | 253 | | | 194 | | |\n| 17 | Deferred tax assets | 6,733 | | | 328 | | |\n| 18 | Other non-current assets | 4,531 | | | 3,865 | | |\n| 19 | Total assets | $ | 106,618 | | | $ | 82,338 |\n| 20 | Liabilities | | | | | | |\n| 21 | Current liabilities | | | | | | |\n| 22 | Accounts payable | $ | 14,431 | | | $ | 15,255 |\n| 23 | Accrued liabilities and other | 9,080 | | | 8,205 | | |\n| 24 | Deferred revenue | 2,864 | | | 1,747 | | |\n| 25 | Current portion of debt and finance leases | 2,373 | | | 1,502 | | |\n| 26 | Total current liabilities | 28,748 | | | 26,709 | | |\n| 27 | Debt and finance leases, net of current portion | 2,857 | | | 1,597 | | |\n| 28 | Deferred revenue, net of current portion | 3,251 | | | 2,804 | | |\n| 29 | Other long-term liabilities | 8,153 | | | 5,330 | | |\n| 30 | Total liabilities | 43,009 | | | 36,440 | | |\n| 31 | Commitments and contingencies (Note 15) | | | | | | |\n| 32 | Redeemable noncontrolling interests in subsidiaries | 242 | | | 409 | | |\n| 33 | Equity | | | | | | |\n| 34 | Stockholders' equity | | | | | | |\n| 35 | Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding | - | | | - | | |\n| 36 | Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 3 | | | 3 | | |\n| 37 | Additional paid-in capital | 34,892 | | | 32,177 | | |\n| 38 | Accumulated other comprehensive loss | (143) | | | (361) | | |\n| 39 | Retained earnings | 27,882 | | | 12,885 | | |\n| 40 | Total stockholders' equity | 62,634 | | | 44,704 | | |\n| 41 | Noncontrolling interests in subsidiaries | 733 | | | 785 | | |\n| 42 | Total liabilities and equity | $ | 106,618 | | | $ | 82,338 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n","context_html_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 49: Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,2023<\/td><\/td>December 31,2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>16,398 <\/td><\/td><\/td>$<\/td>16,253 <\/td><\/td><\/tr>
Short-term investments<\/td>12,696 <\/td><\/td><\/td>5,932 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>3,508 <\/td><\/td><\/td>2,952 <\/td><\/td><\/tr>
Inventory<\/td>13,626 <\/td><\/td><\/td>12,839 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,388 <\/td><\/td><\/td>2,941 <\/td><\/td><\/tr>
Total current assets<\/td>49,616 <\/td><\/td><\/td>40,917 <\/td><\/td><\/tr>
Operating lease vehicles, net<\/td>5,989 <\/td><\/td><\/td>5,035 <\/td><\/td><\/tr>
Solar energy systems, net<\/td>5,229 <\/td><\/td><\/td>5,489 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>29,725 <\/td><\/td><\/td>23,548 <\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>4,180 <\/td><\/td><\/td>2,563 <\/td><\/td><\/tr>
Digital assets, net<\/td>184 <\/td><\/td><\/td>184 <\/td><\/td><\/tr>
Intangible assets, net<\/td>178 <\/td><\/td><\/td>215 <\/td><\/td><\/tr>
Goodwill<\/td>253 <\/td><\/td><\/td>194 <\/td><\/td><\/tr>
Deferred tax assets<\/td>6,733 <\/td><\/td><\/td>328 <\/td><\/td><\/tr>
Other non-current assets<\/td>4,531 <\/td><\/td><\/td>3,865 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>14,431 <\/td><\/td><\/td>$<\/td>15,255 <\/td><\/td><\/tr>
Accrued liabilities and other<\/td>9,080 <\/td><\/td><\/td>8,205 <\/td><\/td><\/tr>
Deferred revenue<\/td>2,864 <\/td><\/td><\/td>1,747 <\/td><\/td><\/tr>
Current portion of debt and finance leases<\/td>2,373 <\/td><\/td><\/td>1,502 <\/td><\/td><\/tr>
Total current liabilities<\/td>28,748 <\/td><\/td><\/td>26,709 <\/td><\/td><\/tr>
Debt and finance leases, net of current portion<\/td>2,857 <\/td><\/td><\/td>1,597 <\/td><\/td><\/tr>
Deferred revenue, net of current portion<\/td>3,251 <\/td><\/td><\/td>2,804 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>8,153 <\/td><\/td><\/td>5,330 <\/td><\/td><\/tr>
Total liabilities<\/td>43,009 <\/td><\/td><\/td>36,440 <\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td><\/td><\/td><\/td><\/tr>
Redeemable noncontrolling interests in subsidiaries<\/td>242 <\/td><\/td><\/td>409 <\/td><\/td><\/tr>
Equity<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively<\/td>3 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>34,892 <\/td><\/td><\/td>32,177 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(143)<\/td><\/td><\/td>(361)<\/td><\/td><\/tr>
Retained earnings<\/td>27,882 <\/td><\/td><\/td>12,885 <\/td><\/td><\/tr>
Total stockholders' equity<\/td>62,634 <\/td><\/td><\/td>44,704 <\/td><\/td><\/tr>
Noncontrolling interests in subsidiaries<\/td>733 <\/td><\/td><\/td>785 <\/td><\/td><\/tr>
Total liabilities and equity<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n","context_html_without_headers":"Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,2023<\/td><\/td>December 31,2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>16,398 <\/td><\/td><\/td>$<\/td>16,253 <\/td><\/td><\/tr>
Short-term investments<\/td>12,696 <\/td><\/td><\/td>5,932 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>3,508 <\/td><\/td><\/td>2,952 <\/td><\/td><\/tr>
Inventory<\/td>13,626 <\/td><\/td><\/td>12,839 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,388 <\/td><\/td><\/td>2,941 <\/td><\/td><\/tr>
Total current assets<\/td>49,616 <\/td><\/td><\/td>40,917 <\/td><\/td><\/tr>
Operating lease vehicles, net<\/td>5,989 <\/td><\/td><\/td>5,035 <\/td><\/td><\/tr>
Solar energy systems, net<\/td>5,229 <\/td><\/td><\/td>5,489 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>29,725 <\/td><\/td><\/td>23,548 <\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>4,180 <\/td><\/td><\/td>2,563 <\/td><\/td><\/tr>
Digital assets, net<\/td>184 <\/td><\/td><\/td>184 <\/td><\/td><\/tr>
Intangible assets, net<\/td>178 <\/td><\/td><\/td>215 <\/td><\/td><\/tr>
Goodwill<\/td>253 <\/td><\/td><\/td>194 <\/td><\/td><\/tr>
Deferred tax assets<\/td>6,733 <\/td><\/td><\/td>328 <\/td><\/td><\/tr>
Other non-current assets<\/td>4,531 <\/td><\/td><\/td>3,865 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>14,431 <\/td><\/td><\/td>$<\/td>15,255 <\/td><\/td><\/tr>
Accrued liabilities and other<\/td>9,080 <\/td><\/td><\/td>8,205 <\/td><\/td><\/tr>
Deferred revenue<\/td>2,864 <\/td><\/td><\/td>1,747 <\/td><\/td><\/tr>
Current portion of debt and finance leases<\/td>2,373 <\/td><\/td><\/td>1,502 <\/td><\/td><\/tr>
Total current liabilities<\/td>28,748 <\/td><\/td><\/td>26,709 <\/td><\/td><\/tr>
Debt and finance leases, net of current portion<\/td>2,857 <\/td><\/td><\/td>1,597 <\/td><\/td><\/tr>
Deferred revenue, net of current portion<\/td>3,251 <\/td><\/td><\/td>2,804 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>8,153 <\/td><\/td><\/td>5,330 <\/td><\/td><\/tr>
Total liabilities<\/td>43,009 <\/td><\/td><\/td>36,440 <\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td><\/td><\/td><\/td><\/tr>
Redeemable noncontrolling interests in subsidiaries<\/td>242 <\/td><\/td><\/td>409 <\/td><\/td><\/tr>
Equity<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively<\/td>3 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>34,892 <\/td><\/td><\/td>32,177 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(143)<\/td><\/td><\/td>(361)<\/td><\/td><\/tr>
Retained earnings<\/td>27,882 <\/td><\/td><\/td>12,885 <\/td><\/td><\/tr>
Total stockholders' equity<\/td>62,634 <\/td><\/td><\/td>44,704 <\/td><\/td><\/tr>
Noncontrolling interests in subsidiaries<\/td>733 <\/td><\/td><\/td>785 <\/td><\/td><\/tr>
Total liabilities and equity<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n"} +{"QID":"q_Ra167","Question":"What was Tesla's inventory turnover ratio in 2023?","ground_truth_answer":"To calculate Tesla's inventory turnover ratio for 2023, we use the formula: Inventory Turnover Ratio = Cost of Revenues \/ Average Inventory. For 2023, Inventory Turnover Ratio = $79,113 million \/ (($13,626 million + $12,839 million) \/ 2) = 6.0.","question_type":"Ratio","page_number":"49,50","accession_number":"0001628280-24-002390","item":"ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA","context_markdown_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 49: Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------------|:--------|:-----------------|:-------|:---|:-------|\n| 1 | | December 31,2023 | | December 31,2022 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 16,398 | | | $ | 16,253 |\n| 5 | Short-term investments | 12,696 | | | 5,932 | | |\n| 6 | Accounts receivable, net | 3,508 | | | 2,952 | | |\n| 7 | Inventory | 13,626 | | | 12,839 | | |\n| 8 | Prepaid expenses and other current assets | 3,388 | | | 2,941 | | |\n| 9 | Total current assets | 49,616 | | | 40,917 | | |\n| 10 | Operating lease vehicles, net | 5,989 | | | 5,035 | | |\n| 11 | Solar energy systems, net | 5,229 | | | 5,489 | | |\n| 12 | Property, plant and equipment, net | 29,725 | | | 23,548 | | |\n| 13 | Operating lease right-of-use assets | 4,180 | | | 2,563 | | |\n| 14 | Digital assets, net | 184 | | | 184 | | |\n| 15 | Intangible assets, net | 178 | | | 215 | | |\n| 16 | Goodwill | 253 | | | 194 | | |\n| 17 | Deferred tax assets | 6,733 | | | 328 | | |\n| 18 | Other non-current assets | 4,531 | | | 3,865 | | |\n| 19 | Total assets | $ | 106,618 | | | $ | 82,338 |\n| 20 | Liabilities | | | | | | |\n| 21 | Current liabilities | | | | | | |\n| 22 | Accounts payable | $ | 14,431 | | | $ | 15,255 |\n| 23 | Accrued liabilities and other | 9,080 | | | 8,205 | | |\n| 24 | Deferred revenue | 2,864 | | | 1,747 | | |\n| 25 | Current portion of debt and finance leases | 2,373 | | | 1,502 | | |\n| 26 | Total current liabilities | 28,748 | | | 26,709 | | |\n| 27 | Debt and finance leases, net of current portion | 2,857 | | | 1,597 | | |\n| 28 | Deferred revenue, net of current portion | 3,251 | | | 2,804 | | |\n| 29 | Other long-term liabilities | 8,153 | | | 5,330 | | |\n| 30 | Total liabilities | 43,009 | | | 36,440 | | |\n| 31 | Commitments and contingencies (Note 15) | | | | | | |\n| 32 | Redeemable noncontrolling interests in subsidiaries | 242 | | | 409 | | |\n| 33 | Equity | | | | | | |\n| 34 | Stockholders' equity | | | | | | |\n| 35 | Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding | - | | | - | | |\n| 36 | Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 3 | | | 3 | | |\n| 37 | Additional paid-in capital | 34,892 | | | 32,177 | | |\n| 38 | Accumulated other comprehensive loss | (143) | | | (361) | | |\n| 39 | Retained earnings | 27,882 | | | 12,885 | | |\n| 40 | Total stockholders' equity | 62,634 | | | 44,704 | | |\n| 41 | Noncontrolling interests in subsidiaries | 733 | | | 785 | | |\n| 42 | Total liabilities and equity | $ | 106,618 | | | $ | 82,338 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n, Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 50: Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------------------------|:------------------------|:-------|:------|:-------|:------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Revenues | | | | | | | | | |\n| 4 | Automotive sales | $ | 78,509 | | | $ | 67,210 | | $ | 44,125 |\n| 5 | Automotive regulatory credits | 1,790 | | | 1,776 | | | 1,465 | | |\n| 6 | Automotive leasing | 2,120 | | | 2,476 | | | 1,642 | | |\n| 7 | Total automotive revenues | 82,419 | | | 71,462 | | | 47,232 | | |\n| 8 | Energy generation and storage | 6,035 | | | 3,909 | | | 2,789 | | |\n| 9 | Services and other | 8,319 | | | 6,091 | | | 3,802 | | |\n| 10 | Total revenues | 96,773 | | | 81,462 | | | 53,823 | | |\n| 11 | Cost of revenues | | | | | | | | | |\n| 12 | Automotive sales | 65,121 | | | 49,599 | | | 32,415 | | |\n| 13 | Automotive leasing | 1,268 | | | 1,509 | | | 978 | | |\n| 14 | Total automotive cost of revenues | 66,389 | | | 51,108 | | | 33,393 | | |\n| 15 | Energy generation and storage | 4,894 | | | 3,621 | | | 2,918 | | |\n| 16 | Services and other | 7,830 | | | 5,880 | | | 3,906 | | |\n| 17 | Total cost of revenues | 79,113 | | | 60,609 | | | 40,217 | | |\n| 18 | Gross profit | 17,660 | | | 20,853 | | | 13,606 | | |\n| 19 | Operating expenses | | | | | | | | | |\n| 20 | Research and development | 3,969 | | | 3,075 | | | 2,593 | | |\n| 21 | Selling, general and administrative | 4,800 | | | 3,946 | | | 4,517 | | |\n| 22 | Restructuring and other | - | | | 176 | | | (27) | | |\n| 23 | Total operating expenses | 8,769 | | | 7,197 | | | 7,083 | | |\n| 24 | Income from operations | 8,891 | | | 13,656 | | | 6,523 | | |\n| 25 | Interest income | 1,066 | | | 297 | | | 56 | | |\n| 26 | Interest expense | (156) | | | (191) | | | (371) | | |\n| 27 | Other income (expense), net | 172 | | | (43) | | | 135 | | |\n| 28 | Income before income taxes | 9,973 | | | 13,719 | | | 6,343 | | |\n| 29 | (Benefit from) provision for income taxes | (5,001) | | | 1,132 | | | 699 | | |\n| 30 | Net income | 14,974 | | | 12,587 | | | 5,644 | | |\n| 31 | Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries | (23) | | | 31 | | | 125 | | |\n| 32 | Net income attributable to common stockholders | $ | 14,997 | | | $ | 12,556 | | $ | 5,519 |\n| 34 | Net income per share of common stock attributable to common stockholders | | | | | | | | | |\n| 35 | Basic | $ | 4.73 | | | $ | 4.02 | | $ | 1.87 |\n| 36 | Diluted | $ | 4.30 | | | $ | 3.62 | | $ | 1.63 |\n| 37 | Weighted average shares used in computing net income per share of common stock | | | | | | | | | |\n| 38 | Basic | 3,174 | | 3,130 | | 2,959 | | | | |\n| 39 | Diluted | 3,485 | | 3,475 | | 3,386 | | | | |\nThe accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_markdown_without_headers":"Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n| | | | | | | | |\n|---:|:------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------------|:--------|:-----------------|:-------|:---|:-------|\n| 1 | | December 31,2023 | | December 31,2022 | | | |\n| 2 | Assets | | | | | | |\n| 3 | Current assets | | | | | | |\n| 4 | Cash and cash equivalents | $ | 16,398 | | | $ | 16,253 |\n| 5 | Short-term investments | 12,696 | | | 5,932 | | |\n| 6 | Accounts receivable, net | 3,508 | | | 2,952 | | |\n| 7 | Inventory | 13,626 | | | 12,839 | | |\n| 8 | Prepaid expenses and other current assets | 3,388 | | | 2,941 | | |\n| 9 | Total current assets | 49,616 | | | 40,917 | | |\n| 10 | Operating lease vehicles, net | 5,989 | | | 5,035 | | |\n| 11 | Solar energy systems, net | 5,229 | | | 5,489 | | |\n| 12 | Property, plant and equipment, net | 29,725 | | | 23,548 | | |\n| 13 | Operating lease right-of-use assets | 4,180 | | | 2,563 | | |\n| 14 | Digital assets, net | 184 | | | 184 | | |\n| 15 | Intangible assets, net | 178 | | | 215 | | |\n| 16 | Goodwill | 253 | | | 194 | | |\n| 17 | Deferred tax assets | 6,733 | | | 328 | | |\n| 18 | Other non-current assets | 4,531 | | | 3,865 | | |\n| 19 | Total assets | $ | 106,618 | | | $ | 82,338 |\n| 20 | Liabilities | | | | | | |\n| 21 | Current liabilities | | | | | | |\n| 22 | Accounts payable | $ | 14,431 | | | $ | 15,255 |\n| 23 | Accrued liabilities and other | 9,080 | | | 8,205 | | |\n| 24 | Deferred revenue | 2,864 | | | 1,747 | | |\n| 25 | Current portion of debt and finance leases | 2,373 | | | 1,502 | | |\n| 26 | Total current liabilities | 28,748 | | | 26,709 | | |\n| 27 | Debt and finance leases, net of current portion | 2,857 | | | 1,597 | | |\n| 28 | Deferred revenue, net of current portion | 3,251 | | | 2,804 | | |\n| 29 | Other long-term liabilities | 8,153 | | | 5,330 | | |\n| 30 | Total liabilities | 43,009 | | | 36,440 | | |\n| 31 | Commitments and contingencies (Note 15) | | | | | | |\n| 32 | Redeemable noncontrolling interests in subsidiaries | 242 | | | 409 | | |\n| 33 | Equity | | | | | | |\n| 34 | Stockholders' equity | | | | | | |\n| 35 | Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding | - | | | - | | |\n| 36 | Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 3 | | | 3 | | |\n| 37 | Additional paid-in capital | 34,892 | | | 32,177 | | |\n| 38 | Accumulated other comprehensive loss | (143) | | | (361) | | |\n| 39 | Retained earnings | 27,882 | | | 12,885 | | |\n| 40 | Total stockholders' equity | 62,634 | | | 44,704 | | |\n| 41 | Noncontrolling interests in subsidiaries | 733 | | | 785 | | |\n| 42 | Total liabilities and equity | $ | 106,618 | | | $ | 82,338 |\nThe accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n, Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n| | | | | | | | | | | |\n|---:|:-------------------------------------------------------------------------------------------------------------------|:------------------------|:-------|:------|:-------|:------|:-------|:-------|:---|:-------|\n| 1 | | Year Ended December 31, | | | | | | | | |\n| 2 | | 2023 | | 2022 | | 2021 | | | | |\n| 3 | Revenues | | | | | | | | | |\n| 4 | Automotive sales | $ | 78,509 | | | $ | 67,210 | | $ | 44,125 |\n| 5 | Automotive regulatory credits | 1,790 | | | 1,776 | | | 1,465 | | |\n| 6 | Automotive leasing | 2,120 | | | 2,476 | | | 1,642 | | |\n| 7 | Total automotive revenues | 82,419 | | | 71,462 | | | 47,232 | | |\n| 8 | Energy generation and storage | 6,035 | | | 3,909 | | | 2,789 | | |\n| 9 | Services and other | 8,319 | | | 6,091 | | | 3,802 | | |\n| 10 | Total revenues | 96,773 | | | 81,462 | | | 53,823 | | |\n| 11 | Cost of revenues | | | | | | | | | |\n| 12 | Automotive sales | 65,121 | | | 49,599 | | | 32,415 | | |\n| 13 | Automotive leasing | 1,268 | | | 1,509 | | | 978 | | |\n| 14 | Total automotive cost of revenues | 66,389 | | | 51,108 | | | 33,393 | | |\n| 15 | Energy generation and storage | 4,894 | | | 3,621 | | | 2,918 | | |\n| 16 | Services and other | 7,830 | | | 5,880 | | | 3,906 | | |\n| 17 | Total cost of revenues | 79,113 | | | 60,609 | | | 40,217 | | |\n| 18 | Gross profit | 17,660 | | | 20,853 | | | 13,606 | | |\n| 19 | Operating expenses | | | | | | | | | |\n| 20 | Research and development | 3,969 | | | 3,075 | | | 2,593 | | |\n| 21 | Selling, general and administrative | 4,800 | | | 3,946 | | | 4,517 | | |\n| 22 | Restructuring and other | - | | | 176 | | | (27) | | |\n| 23 | Total operating expenses | 8,769 | | | 7,197 | | | 7,083 | | |\n| 24 | Income from operations | 8,891 | | | 13,656 | | | 6,523 | | |\n| 25 | Interest income | 1,066 | | | 297 | | | 56 | | |\n| 26 | Interest expense | (156) | | | (191) | | | (371) | | |\n| 27 | Other income (expense), net | 172 | | | (43) | | | 135 | | |\n| 28 | Income before income taxes | 9,973 | | | 13,719 | | | 6,343 | | |\n| 29 | (Benefit from) provision for income taxes | (5,001) | | | 1,132 | | | 699 | | |\n| 30 | Net income | 14,974 | | | 12,587 | | | 5,644 | | |\n| 31 | Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries | (23) | | | 31 | | | 125 | | |\n| 32 | Net income attributable to common stockholders | $ | 14,997 | | | $ | 12,556 | | $ | 5,519 |\n| 34 | Net income per share of common stock attributable to common stockholders | | | | | | | | | |\n| 35 | Basic | $ | 4.73 | | | $ | 4.02 | | $ | 1.87 |\n| 36 | Diluted | $ | 4.30 | | | $ | 3.62 | | $ | 1.63 |\n| 37 | Weighted average shares used in computing net income per share of common stock | | | | | | | | | |\n| 38 | Basic | 3,174 | | 3,130 | | 2,959 | | | | |\n| 39 | Diluted | 3,485 | | 3,475 | | 3,386 | | | | |\nThe accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_html_with_headers":"Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 49: Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,2023<\/td><\/td>December 31,2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>16,398 <\/td><\/td><\/td>$<\/td>16,253 <\/td><\/td><\/tr>
Short-term investments<\/td>12,696 <\/td><\/td><\/td>5,932 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>3,508 <\/td><\/td><\/td>2,952 <\/td><\/td><\/tr>
Inventory<\/td>13,626 <\/td><\/td><\/td>12,839 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,388 <\/td><\/td><\/td>2,941 <\/td><\/td><\/tr>
Total current assets<\/td>49,616 <\/td><\/td><\/td>40,917 <\/td><\/td><\/tr>
Operating lease vehicles, net<\/td>5,989 <\/td><\/td><\/td>5,035 <\/td><\/td><\/tr>
Solar energy systems, net<\/td>5,229 <\/td><\/td><\/td>5,489 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>29,725 <\/td><\/td><\/td>23,548 <\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>4,180 <\/td><\/td><\/td>2,563 <\/td><\/td><\/tr>
Digital assets, net<\/td>184 <\/td><\/td><\/td>184 <\/td><\/td><\/tr>
Intangible assets, net<\/td>178 <\/td><\/td><\/td>215 <\/td><\/td><\/tr>
Goodwill<\/td>253 <\/td><\/td><\/td>194 <\/td><\/td><\/tr>
Deferred tax assets<\/td>6,733 <\/td><\/td><\/td>328 <\/td><\/td><\/tr>
Other non-current assets<\/td>4,531 <\/td><\/td><\/td>3,865 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>14,431 <\/td><\/td><\/td>$<\/td>15,255 <\/td><\/td><\/tr>
Accrued liabilities and other<\/td>9,080 <\/td><\/td><\/td>8,205 <\/td><\/td><\/tr>
Deferred revenue<\/td>2,864 <\/td><\/td><\/td>1,747 <\/td><\/td><\/tr>
Current portion of debt and finance leases<\/td>2,373 <\/td><\/td><\/td>1,502 <\/td><\/td><\/tr>
Total current liabilities<\/td>28,748 <\/td><\/td><\/td>26,709 <\/td><\/td><\/tr>
Debt and finance leases, net of current portion<\/td>2,857 <\/td><\/td><\/td>1,597 <\/td><\/td><\/tr>
Deferred revenue, net of current portion<\/td>3,251 <\/td><\/td><\/td>2,804 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>8,153 <\/td><\/td><\/td>5,330 <\/td><\/td><\/tr>
Total liabilities<\/td>43,009 <\/td><\/td><\/td>36,440 <\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td><\/td><\/td><\/td><\/tr>
Redeemable noncontrolling interests in subsidiaries<\/td>242 <\/td><\/td><\/td>409 <\/td><\/td><\/tr>
Equity<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively<\/td>3 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>34,892 <\/td><\/td><\/td>32,177 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(143)<\/td><\/td><\/td>(361)<\/td><\/td><\/tr>
Retained earnings<\/td>27,882 <\/td><\/td><\/td>12,885 <\/td><\/td><\/tr>
Total stockholders' equity<\/td>62,634 <\/td><\/td><\/td>44,704 <\/td><\/td><\/tr>
Noncontrolling interests in subsidiaries<\/td>733 <\/td><\/td><\/td>785 <\/td><\/td><\/tr>
Total liabilities and equity<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n, Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 50: Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>$<\/td>78,509 <\/td><\/td><\/td>$<\/td>67,210 <\/td><\/td><\/td>$<\/td>44,125 <\/td><\/td><\/tr>
Automotive regulatory credits<\/td>1,790 <\/td><\/td><\/td>1,776 <\/td><\/td><\/td>1,465 <\/td><\/td><\/tr>
Automotive leasing<\/td>2,120 <\/td><\/td><\/td>2,476 <\/td><\/td><\/td>1,642 <\/td><\/td><\/tr>
Total automotive revenues<\/td>82,419 <\/td><\/td><\/td>71,462 <\/td><\/td><\/td>47,232 <\/td><\/td><\/tr>
Energy generation and storage<\/td>6,035 <\/td><\/td><\/td>3,909 <\/td><\/td><\/td>2,789 <\/td><\/td><\/tr>
Services and other<\/td>8,319 <\/td><\/td><\/td>6,091 <\/td><\/td><\/td>3,802 <\/td><\/td><\/tr>
Total revenues<\/td>96,773 <\/td><\/td><\/td>81,462 <\/td><\/td><\/td>53,823 <\/td><\/td><\/tr>
Cost of revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>65,121 <\/td><\/td><\/td>49,599 <\/td><\/td><\/td>32,415 <\/td><\/td><\/tr>
Automotive leasing<\/td>1,268 <\/td><\/td><\/td>1,509 <\/td><\/td><\/td>978 <\/td><\/td><\/tr>
Total automotive cost of revenues<\/td>66,389 <\/td><\/td><\/td>51,108 <\/td><\/td><\/td>33,393 <\/td><\/td><\/tr>
Energy generation and storage<\/td>4,894 <\/td><\/td><\/td>3,621 <\/td><\/td><\/td>2,918 <\/td><\/td><\/tr>
Services and other<\/td>7,830 <\/td><\/td><\/td>5,880 <\/td><\/td><\/td>3,906 <\/td><\/td><\/tr>
Total cost of revenues<\/td>79,113 <\/td><\/td><\/td>60,609 <\/td><\/td><\/td>40,217 <\/td><\/td><\/tr>
Gross profit<\/td>17,660 <\/td><\/td><\/td>20,853 <\/td><\/td><\/td>13,606 <\/td><\/td><\/tr>
Operating expenses<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>3,969 <\/td><\/td><\/td>3,075 <\/td><\/td><\/td>2,593 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>4,800 <\/td><\/td><\/td>3,946 <\/td><\/td><\/td>4,517 <\/td><\/td><\/tr>
Restructuring and other<\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>(27)<\/td><\/td><\/tr>
Total operating expenses<\/td>8,769 <\/td><\/td><\/td>7,197 <\/td><\/td><\/td>7,083 <\/td><\/td><\/tr>
Income from operations<\/td>8,891 <\/td><\/td><\/td>13,656 <\/td><\/td><\/td>6,523 <\/td><\/td><\/tr>
Interest income<\/td>1,066 <\/td><\/td><\/td>297 <\/td><\/td><\/td>56 <\/td><\/td><\/tr>
Interest expense<\/td>(156)<\/td><\/td><\/td>(191)<\/td><\/td><\/td>(371)<\/td><\/td><\/tr>
Other income (expense), net<\/td>172 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>135 <\/td><\/td><\/tr>
Income before income taxes<\/td>9,973 <\/td><\/td><\/td>13,719 <\/td><\/td><\/td>6,343 <\/td><\/td><\/tr>
(Benefit from) provision for income taxes<\/td>(5,001)<\/td><\/td><\/td>1,132 <\/td><\/td><\/td>699 <\/td><\/td><\/tr>
Net income<\/td>14,974 <\/td><\/td><\/td>12,587 <\/td><\/td><\/td>5,644 <\/td><\/td><\/tr>
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries<\/td>(23)<\/td><\/td><\/td>31 <\/td><\/td><\/td>125 <\/td><\/td><\/tr>
Net income attributable to common stockholders<\/td>$<\/td>14,997 <\/td><\/td><\/td>$<\/td>12,556 <\/td><\/td><\/td>$<\/td>5,519 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share of common stock attributable to common stockholders<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>4.73 <\/td><\/td><\/td>$<\/td>4.02 <\/td><\/td><\/td>$<\/td>1.87 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>4.30 <\/td><\/td><\/td>$<\/td>3.62 <\/td><\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Weighted average shares used in computing net income per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>3,174<\/td><\/td>3,130<\/td><\/td>2,959<\/td><\/tr>
Diluted<\/td>3,485<\/td><\/td>3,475<\/td><\/td>3,386<\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n","context_html_without_headers":"Tesla, Inc.\n\nConsolidated Balance Sheets\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>December 31,2023<\/td><\/td>December 31,2022<\/td><\/tr>
Assets<\/td><\/td><\/td><\/td><\/tr>
Current assets<\/td><\/td><\/td><\/td><\/tr>
Cash and cash equivalents<\/td>$<\/td>16,398 <\/td><\/td><\/td>$<\/td>16,253 <\/td><\/td><\/tr>
Short-term investments<\/td>12,696 <\/td><\/td><\/td>5,932 <\/td><\/td><\/tr>
Accounts receivable, net<\/td>3,508 <\/td><\/td><\/td>2,952 <\/td><\/td><\/tr>
Inventory<\/td>13,626 <\/td><\/td><\/td>12,839 <\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td>3,388 <\/td><\/td><\/td>2,941 <\/td><\/td><\/tr>
Total current assets<\/td>49,616 <\/td><\/td><\/td>40,917 <\/td><\/td><\/tr>
Operating lease vehicles, net<\/td>5,989 <\/td><\/td><\/td>5,035 <\/td><\/td><\/tr>
Solar energy systems, net<\/td>5,229 <\/td><\/td><\/td>5,489 <\/td><\/td><\/tr>
Property, plant and equipment, net<\/td>29,725 <\/td><\/td><\/td>23,548 <\/td><\/td><\/tr>
Operating lease right-of-use assets<\/td>4,180 <\/td><\/td><\/td>2,563 <\/td><\/td><\/tr>
Digital assets, net<\/td>184 <\/td><\/td><\/td>184 <\/td><\/td><\/tr>
Intangible assets, net<\/td>178 <\/td><\/td><\/td>215 <\/td><\/td><\/tr>
Goodwill<\/td>253 <\/td><\/td><\/td>194 <\/td><\/td><\/tr>
Deferred tax assets<\/td>6,733 <\/td><\/td><\/td>328 <\/td><\/td><\/tr>
Other non-current assets<\/td>4,531 <\/td><\/td><\/td>3,865 <\/td><\/td><\/tr>
Total assets<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr>
Liabilities<\/td><\/td><\/td><\/td><\/tr>
Current liabilities<\/td><\/td><\/td><\/td><\/tr>
Accounts payable<\/td>$<\/td>14,431 <\/td><\/td><\/td>$<\/td>15,255 <\/td><\/td><\/tr>
Accrued liabilities and other<\/td>9,080 <\/td><\/td><\/td>8,205 <\/td><\/td><\/tr>
Deferred revenue<\/td>2,864 <\/td><\/td><\/td>1,747 <\/td><\/td><\/tr>
Current portion of debt and finance leases<\/td>2,373 <\/td><\/td><\/td>1,502 <\/td><\/td><\/tr>
Total current liabilities<\/td>28,748 <\/td><\/td><\/td>26,709 <\/td><\/td><\/tr>
Debt and finance leases, net of current portion<\/td>2,857 <\/td><\/td><\/td>1,597 <\/td><\/td><\/tr>
Deferred revenue, net of current portion<\/td>3,251 <\/td><\/td><\/td>2,804 <\/td><\/td><\/tr>
Other long-term liabilities<\/td>8,153 <\/td><\/td><\/td>5,330 <\/td><\/td><\/tr>
Total liabilities<\/td>43,009 <\/td><\/td><\/td>36,440 <\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td><\/td><\/td><\/td><\/tr>
Redeemable noncontrolling interests in subsidiaries<\/td>242 <\/td><\/td><\/td>409 <\/td><\/td><\/tr>
Equity<\/td><\/td><\/td><\/td><\/tr>
Stockholders' equity<\/td><\/td><\/td><\/td><\/tr>
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding<\/td>- <\/td><\/td><\/td>- <\/td><\/td><\/tr>
Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively<\/td>3 <\/td><\/td><\/td>3 <\/td><\/td><\/tr>
Additional paid-in capital<\/td>34,892 <\/td><\/td><\/td>32,177 <\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td>(143)<\/td><\/td><\/td>(361)<\/td><\/td><\/tr>
Retained earnings<\/td>27,882 <\/td><\/td><\/td>12,885 <\/td><\/td><\/tr>
Total stockholders' equity<\/td>62,634 <\/td><\/td><\/td>44,704 <\/td><\/td><\/tr>
Noncontrolling interests in subsidiaries<\/td>733 <\/td><\/td><\/td>785 <\/td><\/td><\/tr>
Total liabilities and equity<\/td>$<\/td>106,618 <\/td><\/td><\/td>$<\/td>82,338 <\/td><\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n49\n\n\n\n\n, Tesla, Inc.\n\nConsolidated Statements of Operations\n\n(in millions, except per share data)\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td>Year Ended December 31,<\/td><\/tr>
<\/td>2023<\/td><\/td>2022<\/td><\/td>2021<\/td><\/tr>
Revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>$<\/td>78,509 <\/td><\/td><\/td>$<\/td>67,210 <\/td><\/td><\/td>$<\/td>44,125 <\/td><\/td><\/tr>
Automotive regulatory credits<\/td>1,790 <\/td><\/td><\/td>1,776 <\/td><\/td><\/td>1,465 <\/td><\/td><\/tr>
Automotive leasing<\/td>2,120 <\/td><\/td><\/td>2,476 <\/td><\/td><\/td>1,642 <\/td><\/td><\/tr>
Total automotive revenues<\/td>82,419 <\/td><\/td><\/td>71,462 <\/td><\/td><\/td>47,232 <\/td><\/td><\/tr>
Energy generation and storage<\/td>6,035 <\/td><\/td><\/td>3,909 <\/td><\/td><\/td>2,789 <\/td><\/td><\/tr>
Services and other<\/td>8,319 <\/td><\/td><\/td>6,091 <\/td><\/td><\/td>3,802 <\/td><\/td><\/tr>
Total revenues<\/td>96,773 <\/td><\/td><\/td>81,462 <\/td><\/td><\/td>53,823 <\/td><\/td><\/tr>
Cost of revenues<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Automotive sales<\/td>65,121 <\/td><\/td><\/td>49,599 <\/td><\/td><\/td>32,415 <\/td><\/td><\/tr>
Automotive leasing<\/td>1,268 <\/td><\/td><\/td>1,509 <\/td><\/td><\/td>978 <\/td><\/td><\/tr>
Total automotive cost of revenues<\/td>66,389 <\/td><\/td><\/td>51,108 <\/td><\/td><\/td>33,393 <\/td><\/td><\/tr>
Energy generation and storage<\/td>4,894 <\/td><\/td><\/td>3,621 <\/td><\/td><\/td>2,918 <\/td><\/td><\/tr>
Services and other<\/td>7,830 <\/td><\/td><\/td>5,880 <\/td><\/td><\/td>3,906 <\/td><\/td><\/tr>
Total cost of revenues<\/td>79,113 <\/td><\/td><\/td>60,609 <\/td><\/td><\/td>40,217 <\/td><\/td><\/tr>
Gross profit<\/td>17,660 <\/td><\/td><\/td>20,853 <\/td><\/td><\/td>13,606 <\/td><\/td><\/tr>
Operating expenses<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Research and development<\/td>3,969 <\/td><\/td><\/td>3,075 <\/td><\/td><\/td>2,593 <\/td><\/td><\/tr>
Selling, general and administrative<\/td>4,800 <\/td><\/td><\/td>3,946 <\/td><\/td><\/td>4,517 <\/td><\/td><\/tr>
Restructuring and other<\/td>- <\/td><\/td><\/td>176 <\/td><\/td><\/td>(27)<\/td><\/td><\/tr>
Total operating expenses<\/td>8,769 <\/td><\/td><\/td>7,197 <\/td><\/td><\/td>7,083 <\/td><\/td><\/tr>
Income from operations<\/td>8,891 <\/td><\/td><\/td>13,656 <\/td><\/td><\/td>6,523 <\/td><\/td><\/tr>
Interest income<\/td>1,066 <\/td><\/td><\/td>297 <\/td><\/td><\/td>56 <\/td><\/td><\/tr>
Interest expense<\/td>(156)<\/td><\/td><\/td>(191)<\/td><\/td><\/td>(371)<\/td><\/td><\/tr>
Other income (expense), net<\/td>172 <\/td><\/td><\/td>(43)<\/td><\/td><\/td>135 <\/td><\/td><\/tr>
Income before income taxes<\/td>9,973 <\/td><\/td><\/td>13,719 <\/td><\/td><\/td>6,343 <\/td><\/td><\/tr>
(Benefit from) provision for income taxes<\/td>(5,001)<\/td><\/td><\/td>1,132 <\/td><\/td><\/td>699 <\/td><\/td><\/tr>
Net income<\/td>14,974 <\/td><\/td><\/td>12,587 <\/td><\/td><\/td>5,644 <\/td><\/td><\/tr>
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries<\/td>(23)<\/td><\/td><\/td>31 <\/td><\/td><\/td>125 <\/td><\/td><\/tr>
Net income attributable to common stockholders<\/td>$<\/td>14,997 <\/td><\/td><\/td>$<\/td>12,556 <\/td><\/td><\/td>$<\/td>5,519 <\/td><\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Net income per share of common stock attributable to common stockholders<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>$<\/td>4.73 <\/td><\/td><\/td>$<\/td>4.02 <\/td><\/td><\/td>$<\/td>1.87 <\/td><\/td><\/tr>
Diluted<\/td>$<\/td>4.30 <\/td><\/td><\/td>$<\/td>3.62 <\/td><\/td><\/td>$<\/td>1.63 <\/td><\/td><\/tr>
Weighted average shares used in computing net income per share of common stock<\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
Basic<\/td>3,174<\/td><\/td>3,130<\/td><\/td>2,959<\/td><\/tr>
Diluted<\/td>3,485<\/td><\/td>3,475<\/td><\/td>3,386<\/td><\/tr><\/table>The accompanying notes are an integral part of these consolidated financial statements.\n50\n\n\n\n\n"} +{"QID":"q_Ra168","Question":"What is the Return on Assets (ROA) for Nike in fiscal year 2018?","ground_truth_answer":"Net Income (Fiscal Year 2018): $1,933 million\nTotal Assets at the end of Fiscal Year 2018: $22,536 million\nTotal Assets at the end of Fiscal Year 2017: $23,259 million\n\nTo calculate Average Total Assets:\nAverage Total Assets = (Total Assets at 2018 + Total Assets at 2017) \/ 2\nAverage Total Assets = (22,536 + 23,259) \/ 2 = 22,897.5 million\n\nTo calculate ROA (Return on Assets):\nROA = (Net Income \/ Average Total Assets) \u00d7 100\nROA = (1,933 \/ 22,897.5) \u00d7 100 \u2248 8.44%","question_type":"Ratio","page_number":"44, 46","accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n"} +{"QID":"q_Ra169","Question":"What is Nike's Current Ratio for fiscal year 2018, and how is it calculated?","ground_truth_answer":"To calculate Nike's current ratio for 2018, we use the formula:\nCurrent Ratio = Total Current Assets \/ Total Current Liabilities\n\nFrom the document:\nTotal Current Assets for 2018 = $15,134 million\nTotal Current Liabilities for 2018 = $6,040 million\n\nSubstituting the values:\nCurrent Ratio = 15,134 \/ 6,040 \u2248 2.51\nThus, Nike's current ratio for 2018 is approximately 2.51.","question_type":"Ratio","page_number":46,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n"} +{"QID":"q_Ra170","Question":"What is Nike's Quick Ratio for fiscal year 2018?","ground_truth_answer":"Method 1: To calculate Nike's Quick Ratio for 2018, we use the formula:\nQuick Ratio = (Current Assets - Inventory) \/ Current Liabilities\n\nData from the document:\nTotal Current Assets (2018) = $15,134 million\nInventory (2018) = $5,261 million\nTotal Current Liabilities (2018) = $6,040 million\n\nSubstituting the values:\nQuick Ratio = (15,134 - 5,261) \/ 6,040\nQuick Ratio = 9,873 \/ 6,040 \u2248 1.63\n\nThus, Nike's Quick Ratio for 2018 is approximately 1.63\nMethod 2: To calculate Nike's Quick Ratio for fiscal year 2018, we use the formula:\nQuick Ratio = (Cash and Equivalents + Short-term Investments + Accounts Receivable) \/ Total Current Liabilities\n\nData from the document:\n\nCash and Equivalents = $4,249 million\nShort-term Investments = $996 million\nAccounts Receivable, net = $3,498 million\nTotal Current Liabilities = $6,040 million\nSubstituting the values:\nQuick Ratio = (4,249 + 996 + 3,498) \/ 6,040\nQuick Ratio = 8,743 \/ 6,040 \u2248 1.45\n\nThus, Nike's Quick Ratio for fiscal year 2018 is approximately 1.45.\n","question_type":"Ratio","page_number":46,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n"} +{"QID":"q_Ra171","Question":"What is Nike's Asset Turnover Ratio for fiscal year 2018?","ground_truth_answer":"To calculate Nike's Asset Turnover Ratio for 2018, we use the formula:\nAsset Turnover Ratio = Total Revenue \/ Average Total Assets\n\nData from the document:\nTotal Revenue (2018) = $36,397 million\nTotal Assets (2018) = $22,536 million\nTotal Assets (2017) = $23,259 million\n\nStep 1: Calculate Average Total Assets:\nAverage Total Assets = (Total Assets in 2018 + Total Assets in 2017) \/ 2\nAverage Total Assets = (22,536 + 23,259) \/ 2 = 22,897.5 million\n\nStep 2: Calculate Asset Turnover Ratio:\nAsset Turnover Ratio = 36,397 \/ 22,897.5 \u2248 1.59\n\nThus, Nike's Asset Turnover Ratio for 2018 is approximately 1.59.","question_type":"Ratio","page_number":"44, 46","accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n"} +{"QID":"q_Ra172","Question":"What is Nike's Inventory Turnover Ratio for fiscal year 2018","ground_truth_answer":"To calculate Nike's Inventory Turnover Ratio for 2018, we use the formula:\nInventory Turnover Ratio = Cost of Goods Sold (COGS) \/ Average Inventory\n\nData from the document:\nCost of Goods Sold (COGS) = $20,441 million\nInventory at the end of 2018 = $5,261 million\nInventory at the end of 2017 = $5,055 million\n\nStep 1: Calculate Average Inventory:\nAverage Inventory = (Inventory at the end of 2018 + Inventory at the end of 2017) \/ 2\nAverage Inventory = (5,261 + 5,055) \/ 2 = 5,158 million\n\nStep 2: Calculate Inventory Turnover Ratio:\nInventory Turnover Ratio = 20,441 \/ 5,158 \u2248 3.96\n\nThus, Nike's Inventory Turnover Ratio for 2018 is approximately 3.96","question_type":"Ratio","page_number":"44, 46","accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n"} +{"QID":"q_Ra173","Question":"What is Nike's Financial Leverage Ratio for fiscal year 2018?","ground_truth_answer":"To calculate Nike's Financial Leverage Ratio for 2018, we use the formula:\nFinancial Leverage Ratio = Total Debt \/ Shareholders\u2019 Equity\n\nData from the document:\n\nTotal Debt (2018) = $3,468 million\nShareholders\u2019 Equity (2018) = $9,812 million\nCalculation:\nFinancial Leverage Ratio = 3,468 \/ 9,812 \u2248 0.35\n\nThus, Nike's Financial Leverage Ratio for 2018 is approximately 0.35.","question_type":"Ratio","page_number":46,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n"} +{"QID":"q_Ra174","Question":"What is Nike's Accounts Payable Turnover Ratio for fiscal year 2018?","ground_truth_answer":"To calculate Nike's Accounts Payable Turnover Ratio for fiscal year 2018, we use the formula:\nAccounts Payable Turnover Ratio = Cost of Goods Sold (COGS) \/ Average Accounts Payable\n\nCost of Goods Sold (COGS) for 2018 = $20,441 million\nAccounts Payable at the end of 2018 = $2,279 million\nAccounts Payable at the end of 2017 = $2,048 million\nCalculate Average Accounts Payable:\nAverage Accounts Payable = (Accounts Payable at 2018 + Accounts Payable at 2017) \/ 2\nAverage Accounts Payable = (2,279 + 2,048) \/ 2 = $2,163.5 million\n\nCalculate Accounts Payable Turnover Ratio:\nAccounts Payable Turnover Ratio = 20,441 \/ 2,163.5 \u2248 9.45\n\nThus, Nike's Accounts Payable Turnover Ratio for fiscal year 2018 is approximately 9.45.","question_type":"Ratio","page_number":"44, 46","accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n"} +{"QID":"q_Ra175","Question":"How many days does it take for Nike to sell its inventory (DSI) in fiscal year 2018?","ground_truth_answer":"To calculate Nike's Days Sales of Inventory (DSI) for 2018:\n\nFormula:\nDSI = (Average Inventory \/ Cost of Goods Sold) \u00d7 365\nInventory at the end of 2018 = $5,261 million\nInventory at the end of 2017 = $5,055 million\nCOGS for 2018 = $20,441 million\n\nStep 1: Calculate Average Inventory:\nAverage Inventory = (5,261 + 5,055) \/ 2 = $5,158 million\n\nStep 2: Calculate DSI:\nDSI = (5,158 \/ 20,441) \u00d7 365 \u2248 92.13 days\n\nThus, Nike's DSI for 2018 is approximately 92.13 days.","question_type":"Ratio","page_number":"44, 46","accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n"} +{"QID":"q_Ra176","Question":"What is Nike's Fixed Asset Turnover Ratio for fiscal year 2018?","ground_truth_answer":"To calculate Nike's Fixed Asset Turnover Ratio for 2018:\n\nFormula:\nFixed Asset Turnover Ratio = Total Revenue \/ Average Net Fixed Assets\n\nData:\n\nTotal Revenue (2018) = $36,397 million\nNet Fixed Assets (2018) = $4,454 million\nNet Fixed Assets (2017) = $3,989 million\nStep 1: Calculate Average Net Fixed Assets:\nAverage Net Fixed Assets = (Net Fixed Assets 2018 + Net Fixed Assets 2017) \/ 2\nAverage Net Fixed Assets = (4,454 + 3,989) \/ 2 = $4,221.5 million\n\nStep 2: Calculate Fixed Asset Turnover Ratio:\nFixed Asset Turnover Ratio = 36,397 \/ 4,221.5 \u2248 8.63\n\nInterpretation:\nNike's Fixed Asset Turnover Ratio for 2018 is approximately 8.63, indicating that for every dollar invested in fixed assets, Nike generated $8.63 in revenue.","question_type":"Ratio","page_number":"44, 46","accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n"} +{"QID":"q_Ra177","Question":"What is Nike's Gross Profit Margin for fiscal year 2018?","ground_truth_answer":"To calculate Nike's Gross Profit Margin for 2018:\n\nFormula:\nGross Profit Margin = (Gross Profit \/ Total Revenue) \u00d7 100\n\nGross Profit (2018) = $15,956 million\nTotal Revenue (2018) = $36,397 million\nCalculation:\nGross Profit Margin = (15,956 \/ 36,397) \u00d7 100 \u2248 43.84%","question_type":"Ratio","page_number":44,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n"} +{"QID":"q_Ra178","Question":"What is Nike's Interest Coverage Ratio for fiscal year 2018?","ground_truth_answer":"To calculate Nike's Interest Coverage Ratio for 2018:\n\nFormula:\nInterest Coverage Ratio = EBIT \/ Interest Expense\n\nEBIT (2018) = $4,379 million\nInterest Expense (2018) = $54 million\nCalculation:\nInterest Coverage Ratio = 4,379 \/ 54 \u2248 81.1\n\nInterpretation:\nNike's Interest Coverage Ratio for 2018 is approximately 81.1, indicating that the company can cover its interest expenses 81.1 times with its earnings before interest and taxes (EBIT). This demonstrates a strong ability to meet interest obligations.","question_type":"Ratio","page_number":71,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 71: \n| | | | | | | | | | | | |\n|---:|:----------------------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | REVENUES | | | | | | | | | | |\n| 5 | North America | $ | 14,855 | | | $ | 15,216 | | | $ | 14,764 |\n| 6 | Europe, Middle East & Africa | 9,242 | | | 7,970 | | | 7,568 | | | |\n| 7 | Greater China | 5,134 | | | 4,237 | | | 3,785 | | | |\n| 8 | Asia Pacific & Latin America | 5,166 | | | 4,737 | | | 4,317 | | | |\n| 9 | Global Brand Divisions | 88 | | | 73 | | | 73 | | | |\n| 10 | Total NIKE Brand | 34,485 | | | 32,233 | | | 30,507 | | | |\n| 11 | Converse | 1,886 | | | 2,042 | | | 1,955 | | | |\n| 12 | Corporate | 26 | | | 75 | | | (86 | ) | | |\n| 13 | TOTAL NIKE, INC. REVENUES | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 14 | EARNINGS BEFORE INTEREST AND TAXES | | | | | | | | | | |\n| 15 | North America | $ | 3,600 | | | $ | 3,875 | | | $ | 3,763 |\n| 16 | Europe, Middle East & Africa | 1,587 | | | 1,507 | | | 1,787 | | | |\n| 17 | Greater China | 1,807 | | | 1,507 | | | 1,372 | | | |\n| 18 | Asia Pacific & Latin America | 1,189 | | | 980 | | | 1,002 | | | |\n| 19 | Global Brand Divisions | (2,658 | ) | | (2,677 | ) | | (2,596 | ) | | |\n| 20 | Total NIKE Brand | 5,525 | | | 5,192 | | | 5,328 | | | |\n| 21 | Converse | 310 | | | 477 | | | 487 | | | |\n| 22 | Corporate | (1,456 | ) | | (724 | ) | | (1,173 | ) | | |\n| 23 | Total NIKE, Inc. Earnings Before Interest and Taxes | 4,379 | | | 4,945 | | | 4,642 | | | |\n| 24 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 25 | TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 4,325 | | | $ | 4,886 | | | $ | 4,623 |\n| 26 | ADDITIONS TO LONG-LIVED ASSETS | | | | | | | | | | |\n| 27 | North America | $ | 196 | | | $ | 223 | | | $ | 242 |\n| 28 | Europe, Middle East & Africa | 240 | | | 173 | | | 234 | | | |\n| 29 | Greater China | 76 | | | 51 | | | 44 | | | |\n| 30 | Asia Pacific & Latin America | 49 | | | 59 | | | 62 | | | |\n| 31 | Global Brand Divisions | 286 | | | 278 | | | 258 | | | |\n| 32 | Total NIKE Brand | 847 | | | 784 | | | 840 | | | |\n| 33 | Converse | 22 | | | 30 | | | 39 | | | |\n| 34 | Corporate | 325 | | | 387 | | | 312 | | | |\n| 35 | TOTAL ADDITIONS TO LONG-LIVED ASSETS | $ | 1,194 | | | $ | 1,201 | | | $ | 1,191 |\n| 36 | DEPRECIATION | | | | | | | | | | |\n| 37 | North America | $ | 160 | | | $ | 140 | | | $ | 133 |\n| 38 | Europe, Middle East & Africa | 116 | | | 106 | | | 85 | | | |\n| 39 | Greater China | 56 | | | 54 | | | 48 | | | |\n| 40 | Asia Pacific & Latin America | 55 | | | 54 | | | 42 | | | |\n| 41 | Global Brand Divisions | 217 | | | 233 | | | 230 | | | |\n| 42 | Total NIKE Brand | 604 | | | 587 | | | 538 | | | |\n| 43 | Converse | 33 | | | 28 | | | 27 | | | |\n| 44 | Corporate | 110 | | | 91 | | | 84 | | | |\n| 45 | TOTAL DEPRECIATION | $ | 747 | | | $ | 706 | | | $ | 649 |\n\n\n71\n\n\n\n","context_markdown_without_headers":"\n| | | | | | | | | | | | |\n|---:|:----------------------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | REVENUES | | | | | | | | | | |\n| 5 | North America | $ | 14,855 | | | $ | 15,216 | | | $ | 14,764 |\n| 6 | Europe, Middle East & Africa | 9,242 | | | 7,970 | | | 7,568 | | | |\n| 7 | Greater China | 5,134 | | | 4,237 | | | 3,785 | | | |\n| 8 | Asia Pacific & Latin America | 5,166 | | | 4,737 | | | 4,317 | | | |\n| 9 | Global Brand Divisions | 88 | | | 73 | | | 73 | | | |\n| 10 | Total NIKE Brand | 34,485 | | | 32,233 | | | 30,507 | | | |\n| 11 | Converse | 1,886 | | | 2,042 | | | 1,955 | | | |\n| 12 | Corporate | 26 | | | 75 | | | (86 | ) | | |\n| 13 | TOTAL NIKE, INC. REVENUES | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 14 | EARNINGS BEFORE INTEREST AND TAXES | | | | | | | | | | |\n| 15 | North America | $ | 3,600 | | | $ | 3,875 | | | $ | 3,763 |\n| 16 | Europe, Middle East & Africa | 1,587 | | | 1,507 | | | 1,787 | | | |\n| 17 | Greater China | 1,807 | | | 1,507 | | | 1,372 | | | |\n| 18 | Asia Pacific & Latin America | 1,189 | | | 980 | | | 1,002 | | | |\n| 19 | Global Brand Divisions | (2,658 | ) | | (2,677 | ) | | (2,596 | ) | | |\n| 20 | Total NIKE Brand | 5,525 | | | 5,192 | | | 5,328 | | | |\n| 21 | Converse | 310 | | | 477 | | | 487 | | | |\n| 22 | Corporate | (1,456 | ) | | (724 | ) | | (1,173 | ) | | |\n| 23 | Total NIKE, Inc. Earnings Before Interest and Taxes | 4,379 | | | 4,945 | | | 4,642 | | | |\n| 24 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 25 | TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 4,325 | | | $ | 4,886 | | | $ | 4,623 |\n| 26 | ADDITIONS TO LONG-LIVED ASSETS | | | | | | | | | | |\n| 27 | North America | $ | 196 | | | $ | 223 | | | $ | 242 |\n| 28 | Europe, Middle East & Africa | 240 | | | 173 | | | 234 | | | |\n| 29 | Greater China | 76 | | | 51 | | | 44 | | | |\n| 30 | Asia Pacific & Latin America | 49 | | | 59 | | | 62 | | | |\n| 31 | Global Brand Divisions | 286 | | | 278 | | | 258 | | | |\n| 32 | Total NIKE Brand | 847 | | | 784 | | | 840 | | | |\n| 33 | Converse | 22 | | | 30 | | | 39 | | | |\n| 34 | Corporate | 325 | | | 387 | | | 312 | | | |\n| 35 | TOTAL ADDITIONS TO LONG-LIVED ASSETS | $ | 1,194 | | | $ | 1,201 | | | $ | 1,191 |\n| 36 | DEPRECIATION | | | | | | | | | | |\n| 37 | North America | $ | 160 | | | $ | 140 | | | $ | 133 |\n| 38 | Europe, Middle East & Africa | 116 | | | 106 | | | 85 | | | |\n| 39 | Greater China | 56 | | | 54 | | | 48 | | | |\n| 40 | Asia Pacific & Latin America | 55 | | | 54 | | | 42 | | | |\n| 41 | Global Brand Divisions | 217 | | | 233 | | | 230 | | | |\n| 42 | Total NIKE Brand | 604 | | | 587 | | | 538 | | | |\n| 43 | Converse | 33 | | | 28 | | | 27 | | | |\n| 44 | Corporate | 110 | | | 91 | | | 84 | | | |\n| 45 | TOTAL DEPRECIATION | $ | 747 | | | $ | 706 | | | $ | 649 |\n\n\n71\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 71: \n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
REVENUES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>14,855<\/td><\/td> <\/td>$<\/td>15,216<\/td><\/td> <\/td>$<\/td>14,764<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>9,242<\/td><\/td> <\/td>7,970<\/td><\/td> <\/td>7,568<\/td><\/td><\/tr>
Greater China<\/td> <\/td>5,134<\/td><\/td> <\/td>4,237<\/td><\/td> <\/td>3,785<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>5,166<\/td><\/td> <\/td>4,737<\/td><\/td> <\/td>4,317<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>88<\/td><\/td> <\/td>73<\/td><\/td> <\/td>73<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>34,485<\/td><\/td> <\/td>32,233<\/td><\/td> <\/td>30,507<\/td><\/td><\/tr>
Converse<\/td> <\/td>1,886<\/td><\/td> <\/td>2,042<\/td><\/td> <\/td>1,955<\/td><\/td><\/tr>
Corporate<\/td> <\/td>26<\/td><\/td> <\/td>75<\/td><\/td> <\/td>(86<\/td>)<\/td><\/tr>
TOTAL NIKE, INC. REVENUES<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
EARNINGS BEFORE INTEREST AND TAXES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>3,600<\/td><\/td> <\/td>$<\/td>3,875<\/td><\/td> <\/td>$<\/td>3,763<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>1,587<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,787<\/td><\/td><\/tr>
Greater China<\/td> <\/td>1,807<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,372<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>1,189<\/td><\/td> <\/td>980<\/td><\/td> <\/td>1,002<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>(2,658<\/td>)<\/td> <\/td>(2,677<\/td>)<\/td> <\/td>(2,596<\/td>)<\/td><\/tr>
Total NIKE Brand<\/td> <\/td>5,525<\/td><\/td> <\/td>5,192<\/td><\/td> <\/td>5,328<\/td><\/td><\/tr>
Converse<\/td> <\/td>310<\/td><\/td> <\/td>477<\/td><\/td> <\/td>487<\/td><\/td><\/tr>
Corporate<\/td> <\/td>(1,456<\/td>)<\/td> <\/td>(724<\/td>)<\/td> <\/td>(1,173<\/td>)<\/td><\/tr>
Total NIKE, Inc. Earnings Before Interest and Taxes<\/td> <\/td>4,379<\/td><\/td> <\/td>4,945<\/td><\/td> <\/td>4,642<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES<\/td> <\/td>$<\/td>4,325<\/td><\/td> <\/td>$<\/td>4,886<\/td><\/td> <\/td>$<\/td>4,623<\/td><\/td><\/tr>
ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>196<\/td><\/td> <\/td>$<\/td>223<\/td><\/td> <\/td>$<\/td>242<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>240<\/td><\/td> <\/td>173<\/td><\/td> <\/td>234<\/td><\/td><\/tr>
Greater China<\/td> <\/td>76<\/td><\/td> <\/td>51<\/td><\/td> <\/td>44<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>49<\/td><\/td> <\/td>59<\/td><\/td> <\/td>62<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>286<\/td><\/td> <\/td>278<\/td><\/td> <\/td>258<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>847<\/td><\/td> <\/td>784<\/td><\/td> <\/td>840<\/td><\/td><\/tr>
Converse<\/td> <\/td>22<\/td><\/td> <\/td>30<\/td><\/td> <\/td>39<\/td><\/td><\/tr>
Corporate<\/td> <\/td>325<\/td><\/td> <\/td>387<\/td><\/td> <\/td>312<\/td><\/td><\/tr>
TOTAL ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td>$<\/td>1,194<\/td><\/td> <\/td>$<\/td>1,201<\/td><\/td> <\/td>$<\/td>1,191<\/td><\/td><\/tr>
DEPRECIATION<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>160<\/td><\/td> <\/td>$<\/td>140<\/td><\/td> <\/td>$<\/td>133<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>116<\/td><\/td> <\/td>106<\/td><\/td> <\/td>85<\/td><\/td><\/tr>
Greater China<\/td> <\/td>56<\/td><\/td> <\/td>54<\/td><\/td> <\/td>48<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>55<\/td><\/td> <\/td>54<\/td><\/td> <\/td>42<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>217<\/td><\/td> <\/td>233<\/td><\/td> <\/td>230<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>604<\/td><\/td> <\/td>587<\/td><\/td> <\/td>538<\/td><\/td><\/tr>
Converse<\/td> <\/td>33<\/td><\/td> <\/td>28<\/td><\/td> <\/td>27<\/td><\/td><\/tr>
Corporate<\/td> <\/td>110<\/td><\/td> <\/td>91<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
TOTAL DEPRECIATION<\/td> <\/td>$<\/td>747<\/td><\/td> <\/td>$<\/td>706<\/td><\/td> <\/td>$<\/td>649<\/td><\/td><\/tr><\/table>\n\n71\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
REVENUES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>14,855<\/td><\/td> <\/td>$<\/td>15,216<\/td><\/td> <\/td>$<\/td>14,764<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>9,242<\/td><\/td> <\/td>7,970<\/td><\/td> <\/td>7,568<\/td><\/td><\/tr>
Greater China<\/td> <\/td>5,134<\/td><\/td> <\/td>4,237<\/td><\/td> <\/td>3,785<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>5,166<\/td><\/td> <\/td>4,737<\/td><\/td> <\/td>4,317<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>88<\/td><\/td> <\/td>73<\/td><\/td> <\/td>73<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>34,485<\/td><\/td> <\/td>32,233<\/td><\/td> <\/td>30,507<\/td><\/td><\/tr>
Converse<\/td> <\/td>1,886<\/td><\/td> <\/td>2,042<\/td><\/td> <\/td>1,955<\/td><\/td><\/tr>
Corporate<\/td> <\/td>26<\/td><\/td> <\/td>75<\/td><\/td> <\/td>(86<\/td>)<\/td><\/tr>
TOTAL NIKE, INC. REVENUES<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
EARNINGS BEFORE INTEREST AND TAXES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>3,600<\/td><\/td> <\/td>$<\/td>3,875<\/td><\/td> <\/td>$<\/td>3,763<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>1,587<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,787<\/td><\/td><\/tr>
Greater China<\/td> <\/td>1,807<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,372<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>1,189<\/td><\/td> <\/td>980<\/td><\/td> <\/td>1,002<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>(2,658<\/td>)<\/td> <\/td>(2,677<\/td>)<\/td> <\/td>(2,596<\/td>)<\/td><\/tr>
Total NIKE Brand<\/td> <\/td>5,525<\/td><\/td> <\/td>5,192<\/td><\/td> <\/td>5,328<\/td><\/td><\/tr>
Converse<\/td> <\/td>310<\/td><\/td> <\/td>477<\/td><\/td> <\/td>487<\/td><\/td><\/tr>
Corporate<\/td> <\/td>(1,456<\/td>)<\/td> <\/td>(724<\/td>)<\/td> <\/td>(1,173<\/td>)<\/td><\/tr>
Total NIKE, Inc. Earnings Before Interest and Taxes<\/td> <\/td>4,379<\/td><\/td> <\/td>4,945<\/td><\/td> <\/td>4,642<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES<\/td> <\/td>$<\/td>4,325<\/td><\/td> <\/td>$<\/td>4,886<\/td><\/td> <\/td>$<\/td>4,623<\/td><\/td><\/tr>
ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>196<\/td><\/td> <\/td>$<\/td>223<\/td><\/td> <\/td>$<\/td>242<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>240<\/td><\/td> <\/td>173<\/td><\/td> <\/td>234<\/td><\/td><\/tr>
Greater China<\/td> <\/td>76<\/td><\/td> <\/td>51<\/td><\/td> <\/td>44<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>49<\/td><\/td> <\/td>59<\/td><\/td> <\/td>62<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>286<\/td><\/td> <\/td>278<\/td><\/td> <\/td>258<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>847<\/td><\/td> <\/td>784<\/td><\/td> <\/td>840<\/td><\/td><\/tr>
Converse<\/td> <\/td>22<\/td><\/td> <\/td>30<\/td><\/td> <\/td>39<\/td><\/td><\/tr>
Corporate<\/td> <\/td>325<\/td><\/td> <\/td>387<\/td><\/td> <\/td>312<\/td><\/td><\/tr>
TOTAL ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td>$<\/td>1,194<\/td><\/td> <\/td>$<\/td>1,201<\/td><\/td> <\/td>$<\/td>1,191<\/td><\/td><\/tr>
DEPRECIATION<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>160<\/td><\/td> <\/td>$<\/td>140<\/td><\/td> <\/td>$<\/td>133<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>116<\/td><\/td> <\/td>106<\/td><\/td> <\/td>85<\/td><\/td><\/tr>
Greater China<\/td> <\/td>56<\/td><\/td> <\/td>54<\/td><\/td> <\/td>48<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>55<\/td><\/td> <\/td>54<\/td><\/td> <\/td>42<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>217<\/td><\/td> <\/td>233<\/td><\/td> <\/td>230<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>604<\/td><\/td> <\/td>587<\/td><\/td> <\/td>538<\/td><\/td><\/tr>
Converse<\/td> <\/td>33<\/td><\/td> <\/td>28<\/td><\/td> <\/td>27<\/td><\/td><\/tr>
Corporate<\/td> <\/td>110<\/td><\/td> <\/td>91<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
TOTAL DEPRECIATION<\/td> <\/td>$<\/td>747<\/td><\/td> <\/td>$<\/td>706<\/td><\/td> <\/td>$<\/td>649<\/td><\/td><\/tr><\/table>\n\n71\n\n\n\n"} +{"QID":"q_Ra179","Question":"What is Nike's Operating Profit Margin for fiscal year 2018?","ground_truth_answer":"To calculate Nike's Operating Profit Margin for 2018:\n\nFormula:\nOperating Profit Margin = (Operating Income \/ Total Revenue) \u00d7 100\n\nOperating Income (EBIT, 2018) = $4,379 million\nTotal Revenue (2018) = $36,397 million\nOperating Profit Margin = (4,379 \/ 36,397) \u00d7 100 \u2248 12.03%","question_type":"Ratio","page_number":"44, 71","accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 71: \n| | | | | | | | | | | | |\n|---:|:----------------------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | REVENUES | | | | | | | | | | |\n| 5 | North America | $ | 14,855 | | | $ | 15,216 | | | $ | 14,764 |\n| 6 | Europe, Middle East & Africa | 9,242 | | | 7,970 | | | 7,568 | | | |\n| 7 | Greater China | 5,134 | | | 4,237 | | | 3,785 | | | |\n| 8 | Asia Pacific & Latin America | 5,166 | | | 4,737 | | | 4,317 | | | |\n| 9 | Global Brand Divisions | 88 | | | 73 | | | 73 | | | |\n| 10 | Total NIKE Brand | 34,485 | | | 32,233 | | | 30,507 | | | |\n| 11 | Converse | 1,886 | | | 2,042 | | | 1,955 | | | |\n| 12 | Corporate | 26 | | | 75 | | | (86 | ) | | |\n| 13 | TOTAL NIKE, INC. REVENUES | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 14 | EARNINGS BEFORE INTEREST AND TAXES | | | | | | | | | | |\n| 15 | North America | $ | 3,600 | | | $ | 3,875 | | | $ | 3,763 |\n| 16 | Europe, Middle East & Africa | 1,587 | | | 1,507 | | | 1,787 | | | |\n| 17 | Greater China | 1,807 | | | 1,507 | | | 1,372 | | | |\n| 18 | Asia Pacific & Latin America | 1,189 | | | 980 | | | 1,002 | | | |\n| 19 | Global Brand Divisions | (2,658 | ) | | (2,677 | ) | | (2,596 | ) | | |\n| 20 | Total NIKE Brand | 5,525 | | | 5,192 | | | 5,328 | | | |\n| 21 | Converse | 310 | | | 477 | | | 487 | | | |\n| 22 | Corporate | (1,456 | ) | | (724 | ) | | (1,173 | ) | | |\n| 23 | Total NIKE, Inc. Earnings Before Interest and Taxes | 4,379 | | | 4,945 | | | 4,642 | | | |\n| 24 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 25 | TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 4,325 | | | $ | 4,886 | | | $ | 4,623 |\n| 26 | ADDITIONS TO LONG-LIVED ASSETS | | | | | | | | | | |\n| 27 | North America | $ | 196 | | | $ | 223 | | | $ | 242 |\n| 28 | Europe, Middle East & Africa | 240 | | | 173 | | | 234 | | | |\n| 29 | Greater China | 76 | | | 51 | | | 44 | | | |\n| 30 | Asia Pacific & Latin America | 49 | | | 59 | | | 62 | | | |\n| 31 | Global Brand Divisions | 286 | | | 278 | | | 258 | | | |\n| 32 | Total NIKE Brand | 847 | | | 784 | | | 840 | | | |\n| 33 | Converse | 22 | | | 30 | | | 39 | | | |\n| 34 | Corporate | 325 | | | 387 | | | 312 | | | |\n| 35 | TOTAL ADDITIONS TO LONG-LIVED ASSETS | $ | 1,194 | | | $ | 1,201 | | | $ | 1,191 |\n| 36 | DEPRECIATION | | | | | | | | | | |\n| 37 | North America | $ | 160 | | | $ | 140 | | | $ | 133 |\n| 38 | Europe, Middle East & Africa | 116 | | | 106 | | | 85 | | | |\n| 39 | Greater China | 56 | | | 54 | | | 48 | | | |\n| 40 | Asia Pacific & Latin America | 55 | | | 54 | | | 42 | | | |\n| 41 | Global Brand Divisions | 217 | | | 233 | | | 230 | | | |\n| 42 | Total NIKE Brand | 604 | | | 587 | | | 538 | | | |\n| 43 | Converse | 33 | | | 28 | | | 27 | | | |\n| 44 | Corporate | 110 | | | 91 | | | 84 | | | |\n| 45 | TOTAL DEPRECIATION | $ | 747 | | | $ | 706 | | | $ | 649 |\n\n\n71\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n| | | | | | | | | | | | |\n|---:|:----------------------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | REVENUES | | | | | | | | | | |\n| 5 | North America | $ | 14,855 | | | $ | 15,216 | | | $ | 14,764 |\n| 6 | Europe, Middle East & Africa | 9,242 | | | 7,970 | | | 7,568 | | | |\n| 7 | Greater China | 5,134 | | | 4,237 | | | 3,785 | | | |\n| 8 | Asia Pacific & Latin America | 5,166 | | | 4,737 | | | 4,317 | | | |\n| 9 | Global Brand Divisions | 88 | | | 73 | | | 73 | | | |\n| 10 | Total NIKE Brand | 34,485 | | | 32,233 | | | 30,507 | | | |\n| 11 | Converse | 1,886 | | | 2,042 | | | 1,955 | | | |\n| 12 | Corporate | 26 | | | 75 | | | (86 | ) | | |\n| 13 | TOTAL NIKE, INC. REVENUES | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 14 | EARNINGS BEFORE INTEREST AND TAXES | | | | | | | | | | |\n| 15 | North America | $ | 3,600 | | | $ | 3,875 | | | $ | 3,763 |\n| 16 | Europe, Middle East & Africa | 1,587 | | | 1,507 | | | 1,787 | | | |\n| 17 | Greater China | 1,807 | | | 1,507 | | | 1,372 | | | |\n| 18 | Asia Pacific & Latin America | 1,189 | | | 980 | | | 1,002 | | | |\n| 19 | Global Brand Divisions | (2,658 | ) | | (2,677 | ) | | (2,596 | ) | | |\n| 20 | Total NIKE Brand | 5,525 | | | 5,192 | | | 5,328 | | | |\n| 21 | Converse | 310 | | | 477 | | | 487 | | | |\n| 22 | Corporate | (1,456 | ) | | (724 | ) | | (1,173 | ) | | |\n| 23 | Total NIKE, Inc. Earnings Before Interest and Taxes | 4,379 | | | 4,945 | | | 4,642 | | | |\n| 24 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 25 | TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 4,325 | | | $ | 4,886 | | | $ | 4,623 |\n| 26 | ADDITIONS TO LONG-LIVED ASSETS | | | | | | | | | | |\n| 27 | North America | $ | 196 | | | $ | 223 | | | $ | 242 |\n| 28 | Europe, Middle East & Africa | 240 | | | 173 | | | 234 | | | |\n| 29 | Greater China | 76 | | | 51 | | | 44 | | | |\n| 30 | Asia Pacific & Latin America | 49 | | | 59 | | | 62 | | | |\n| 31 | Global Brand Divisions | 286 | | | 278 | | | 258 | | | |\n| 32 | Total NIKE Brand | 847 | | | 784 | | | 840 | | | |\n| 33 | Converse | 22 | | | 30 | | | 39 | | | |\n| 34 | Corporate | 325 | | | 387 | | | 312 | | | |\n| 35 | TOTAL ADDITIONS TO LONG-LIVED ASSETS | $ | 1,194 | | | $ | 1,201 | | | $ | 1,191 |\n| 36 | DEPRECIATION | | | | | | | | | | |\n| 37 | North America | $ | 160 | | | $ | 140 | | | $ | 133 |\n| 38 | Europe, Middle East & Africa | 116 | | | 106 | | | 85 | | | |\n| 39 | Greater China | 56 | | | 54 | | | 48 | | | |\n| 40 | Asia Pacific & Latin America | 55 | | | 54 | | | 42 | | | |\n| 41 | Global Brand Divisions | 217 | | | 233 | | | 230 | | | |\n| 42 | Total NIKE Brand | 604 | | | 587 | | | 538 | | | |\n| 43 | Converse | 33 | | | 28 | | | 27 | | | |\n| 44 | Corporate | 110 | | | 91 | | | 84 | | | |\n| 45 | TOTAL DEPRECIATION | $ | 747 | | | $ | 706 | | | $ | 649 |\n\n\n71\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 71: \n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
REVENUES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>14,855<\/td><\/td> <\/td>$<\/td>15,216<\/td><\/td> <\/td>$<\/td>14,764<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>9,242<\/td><\/td> <\/td>7,970<\/td><\/td> <\/td>7,568<\/td><\/td><\/tr>
Greater China<\/td> <\/td>5,134<\/td><\/td> <\/td>4,237<\/td><\/td> <\/td>3,785<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>5,166<\/td><\/td> <\/td>4,737<\/td><\/td> <\/td>4,317<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>88<\/td><\/td> <\/td>73<\/td><\/td> <\/td>73<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>34,485<\/td><\/td> <\/td>32,233<\/td><\/td> <\/td>30,507<\/td><\/td><\/tr>
Converse<\/td> <\/td>1,886<\/td><\/td> <\/td>2,042<\/td><\/td> <\/td>1,955<\/td><\/td><\/tr>
Corporate<\/td> <\/td>26<\/td><\/td> <\/td>75<\/td><\/td> <\/td>(86<\/td>)<\/td><\/tr>
TOTAL NIKE, INC. REVENUES<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
EARNINGS BEFORE INTEREST AND TAXES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>3,600<\/td><\/td> <\/td>$<\/td>3,875<\/td><\/td> <\/td>$<\/td>3,763<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>1,587<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,787<\/td><\/td><\/tr>
Greater China<\/td> <\/td>1,807<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,372<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>1,189<\/td><\/td> <\/td>980<\/td><\/td> <\/td>1,002<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>(2,658<\/td>)<\/td> <\/td>(2,677<\/td>)<\/td> <\/td>(2,596<\/td>)<\/td><\/tr>
Total NIKE Brand<\/td> <\/td>5,525<\/td><\/td> <\/td>5,192<\/td><\/td> <\/td>5,328<\/td><\/td><\/tr>
Converse<\/td> <\/td>310<\/td><\/td> <\/td>477<\/td><\/td> <\/td>487<\/td><\/td><\/tr>
Corporate<\/td> <\/td>(1,456<\/td>)<\/td> <\/td>(724<\/td>)<\/td> <\/td>(1,173<\/td>)<\/td><\/tr>
Total NIKE, Inc. Earnings Before Interest and Taxes<\/td> <\/td>4,379<\/td><\/td> <\/td>4,945<\/td><\/td> <\/td>4,642<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES<\/td> <\/td>$<\/td>4,325<\/td><\/td> <\/td>$<\/td>4,886<\/td><\/td> <\/td>$<\/td>4,623<\/td><\/td><\/tr>
ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>196<\/td><\/td> <\/td>$<\/td>223<\/td><\/td> <\/td>$<\/td>242<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>240<\/td><\/td> <\/td>173<\/td><\/td> <\/td>234<\/td><\/td><\/tr>
Greater China<\/td> <\/td>76<\/td><\/td> <\/td>51<\/td><\/td> <\/td>44<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>49<\/td><\/td> <\/td>59<\/td><\/td> <\/td>62<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>286<\/td><\/td> <\/td>278<\/td><\/td> <\/td>258<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>847<\/td><\/td> <\/td>784<\/td><\/td> <\/td>840<\/td><\/td><\/tr>
Converse<\/td> <\/td>22<\/td><\/td> <\/td>30<\/td><\/td> <\/td>39<\/td><\/td><\/tr>
Corporate<\/td> <\/td>325<\/td><\/td> <\/td>387<\/td><\/td> <\/td>312<\/td><\/td><\/tr>
TOTAL ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td>$<\/td>1,194<\/td><\/td> <\/td>$<\/td>1,201<\/td><\/td> <\/td>$<\/td>1,191<\/td><\/td><\/tr>
DEPRECIATION<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>160<\/td><\/td> <\/td>$<\/td>140<\/td><\/td> <\/td>$<\/td>133<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>116<\/td><\/td> <\/td>106<\/td><\/td> <\/td>85<\/td><\/td><\/tr>
Greater China<\/td> <\/td>56<\/td><\/td> <\/td>54<\/td><\/td> <\/td>48<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>55<\/td><\/td> <\/td>54<\/td><\/td> <\/td>42<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>217<\/td><\/td> <\/td>233<\/td><\/td> <\/td>230<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>604<\/td><\/td> <\/td>587<\/td><\/td> <\/td>538<\/td><\/td><\/tr>
Converse<\/td> <\/td>33<\/td><\/td> <\/td>28<\/td><\/td> <\/td>27<\/td><\/td><\/tr>
Corporate<\/td> <\/td>110<\/td><\/td> <\/td>91<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
TOTAL DEPRECIATION<\/td> <\/td>$<\/td>747<\/td><\/td> <\/td>$<\/td>706<\/td><\/td> <\/td>$<\/td>649<\/td><\/td><\/tr><\/table>\n\n71\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n, \n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
REVENUES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>14,855<\/td><\/td> <\/td>$<\/td>15,216<\/td><\/td> <\/td>$<\/td>14,764<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>9,242<\/td><\/td> <\/td>7,970<\/td><\/td> <\/td>7,568<\/td><\/td><\/tr>
Greater China<\/td> <\/td>5,134<\/td><\/td> <\/td>4,237<\/td><\/td> <\/td>3,785<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>5,166<\/td><\/td> <\/td>4,737<\/td><\/td> <\/td>4,317<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>88<\/td><\/td> <\/td>73<\/td><\/td> <\/td>73<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>34,485<\/td><\/td> <\/td>32,233<\/td><\/td> <\/td>30,507<\/td><\/td><\/tr>
Converse<\/td> <\/td>1,886<\/td><\/td> <\/td>2,042<\/td><\/td> <\/td>1,955<\/td><\/td><\/tr>
Corporate<\/td> <\/td>26<\/td><\/td> <\/td>75<\/td><\/td> <\/td>(86<\/td>)<\/td><\/tr>
TOTAL NIKE, INC. REVENUES<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
EARNINGS BEFORE INTEREST AND TAXES<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>3,600<\/td><\/td> <\/td>$<\/td>3,875<\/td><\/td> <\/td>$<\/td>3,763<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>1,587<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,787<\/td><\/td><\/tr>
Greater China<\/td> <\/td>1,807<\/td><\/td> <\/td>1,507<\/td><\/td> <\/td>1,372<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>1,189<\/td><\/td> <\/td>980<\/td><\/td> <\/td>1,002<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>(2,658<\/td>)<\/td> <\/td>(2,677<\/td>)<\/td> <\/td>(2,596<\/td>)<\/td><\/tr>
Total NIKE Brand<\/td> <\/td>5,525<\/td><\/td> <\/td>5,192<\/td><\/td> <\/td>5,328<\/td><\/td><\/tr>
Converse<\/td> <\/td>310<\/td><\/td> <\/td>477<\/td><\/td> <\/td>487<\/td><\/td><\/tr>
Corporate<\/td> <\/td>(1,456<\/td>)<\/td> <\/td>(724<\/td>)<\/td> <\/td>(1,173<\/td>)<\/td><\/tr>
Total NIKE, Inc. Earnings Before Interest and Taxes<\/td> <\/td>4,379<\/td><\/td> <\/td>4,945<\/td><\/td> <\/td>4,642<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES<\/td> <\/td>$<\/td>4,325<\/td><\/td> <\/td>$<\/td>4,886<\/td><\/td> <\/td>$<\/td>4,623<\/td><\/td><\/tr>
ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>196<\/td><\/td> <\/td>$<\/td>223<\/td><\/td> <\/td>$<\/td>242<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>240<\/td><\/td> <\/td>173<\/td><\/td> <\/td>234<\/td><\/td><\/tr>
Greater China<\/td> <\/td>76<\/td><\/td> <\/td>51<\/td><\/td> <\/td>44<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>49<\/td><\/td> <\/td>59<\/td><\/td> <\/td>62<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>286<\/td><\/td> <\/td>278<\/td><\/td> <\/td>258<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>847<\/td><\/td> <\/td>784<\/td><\/td> <\/td>840<\/td><\/td><\/tr>
Converse<\/td> <\/td>22<\/td><\/td> <\/td>30<\/td><\/td> <\/td>39<\/td><\/td><\/tr>
Corporate<\/td> <\/td>325<\/td><\/td> <\/td>387<\/td><\/td> <\/td>312<\/td><\/td><\/tr>
TOTAL ADDITIONS TO LONG-LIVED ASSETS<\/td> <\/td>$<\/td>1,194<\/td><\/td> <\/td>$<\/td>1,201<\/td><\/td> <\/td>$<\/td>1,191<\/td><\/td><\/tr>
DEPRECIATION<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
North America<\/td> <\/td>$<\/td>160<\/td><\/td> <\/td>$<\/td>140<\/td><\/td> <\/td>$<\/td>133<\/td><\/td><\/tr>
Europe, Middle East & Africa<\/td> <\/td>116<\/td><\/td> <\/td>106<\/td><\/td> <\/td>85<\/td><\/td><\/tr>
Greater China<\/td> <\/td>56<\/td><\/td> <\/td>54<\/td><\/td> <\/td>48<\/td><\/td><\/tr>
Asia Pacific & Latin America<\/td> <\/td>55<\/td><\/td> <\/td>54<\/td><\/td> <\/td>42<\/td><\/td><\/tr>
Global Brand Divisions<\/td> <\/td>217<\/td><\/td> <\/td>233<\/td><\/td> <\/td>230<\/td><\/td><\/tr>
Total NIKE Brand<\/td> <\/td>604<\/td><\/td> <\/td>587<\/td><\/td> <\/td>538<\/td><\/td><\/tr>
Converse<\/td> <\/td>33<\/td><\/td> <\/td>28<\/td><\/td> <\/td>27<\/td><\/td><\/tr>
Corporate<\/td> <\/td>110<\/td><\/td> <\/td>91<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
TOTAL DEPRECIATION<\/td> <\/td>$<\/td>747<\/td><\/td> <\/td>$<\/td>706<\/td><\/td> <\/td>$<\/td>649<\/td><\/td><\/tr><\/table>\n\n71\n\n\n\n"} +{"QID":"q_Ra180","Question":"What is Nike's Cash Flow to Debt Ratio for fiscal year 2018?","ground_truth_answer":"To calculate Nike's Cash Flow to Debt Ratio for fiscal year 2018:\n\nFormula:\nCash Flow to Debt Ratio = Operating Cash Flow \/ Total Debt\n\nOperating Cash Flow (2018) = $4,955 million\nTotal Debt (Long-term Debt, 2018) = $3,468 million\nCalculation:\nCash Flow to Debt Ratio = 4,955 \/ 3,468 \u2248 1.43\n\nInterpretation:\nNike's Cash Flow to Debt Ratio for 2018 is approximately 1.43, indicating that Nike generates $1.43 in operating cash flow for every dollar of long-term debt.","question_type":"Ratio","page_number":"46, 47","accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 47: \n| | |\n|---:|:-------------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Cash Flows |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------------------------------------|:-------------------|:------|:-----|:-------|:-----|:------|:-------|:---|:---|:------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Cash provided by operations: | | | | | | | | | | |\n| 5 | Net income | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 6 | Adjustments to reconcile net income to net cash provided by operations: | | | | | | | | | | |\n| 7 | Depreciation | 747 | | | 706 | | | 649 | | | |\n| 8 | Deferred income taxes | 647 | | | (273 | ) | | (80 | ) | | |\n| 9 | Stock-based compensation | 218 | | | 215 | | | 236 | | | |\n| 10 | Amortization and other | 27 | | | 10 | | | 13 | | | |\n| 11 | Net foreign currency adjustments | (99 | ) | | (117 | ) | | 98 | | | |\n| 12 | Changes in certain working capital components and other assets and liabilities: | | | | | | | | | | |\n| 13 | Decrease (increase) in accounts receivable | 187 | | | (426 | ) | | 60 | | | |\n| 14 | (Increase) in inventories | (255 | ) | | (231 | ) | | (590 | ) | | |\n| 15 | Decrease (increase) in prepaid expenses and other current and non-current assets | 35 | | | (120 | ) | | (161 | ) | | |\n| 16 | Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities | 1,515 | | | (158 | ) | | (586 | ) | | |\n| 17 | Cash provided by operations | 4,955 | | | 3,846 | | | 3,399 | | | |\n| 18 | Cash provided (used) by investing activities: | | | | | | | | | | |\n| 19 | Purchases of short-term investments | (4,783 | ) | | (5,928 | ) | | (5,367 | ) | | |\n| 20 | Maturities of short-term investments | 3,613 | | | 3,623 | | | 2,924 | | | |\n| 21 | Sales of short-term investments | 2,496 | | | 2,423 | | | 2,386 | | | |\n| 22 | Investments in reverse repurchase agreements | - | | | - | | | 150 | | | |\n| 23 | Additions to property, plant and equipment | (1,028 | ) | | (1,105 | ) | | (1,143 | ) | | |\n| 24 | Disposals of property, plant and equipment | 3 | | | 13 | | | 10 | | | |\n| 25 | Other investing activities | (25 | ) | | (34 | ) | | 6 | | | |\n| 26 | Cash provided (used) by investing activities | 276 | | | (1,008 | ) | | (1,034 | ) | | |\n| 27 | Cash used by financing activities: | | | | | | | | | | |\n| 28 | Net proceeds from long-term debt issuance | - | | | 1,482 | | | 981 | | | |\n| 29 | Long-term debt payments, including current portion | (6 | ) | | (44 | ) | | (106 | ) | | |\n| 30 | Increase (decrease) in notes payable | 13 | | | 327 | | | (67 | ) | | |\n| 31 | Payments on capital lease and other financing obligations | (23 | ) | | (17 | ) | | (7 | ) | | |\n| 32 | Proceeds from exercise of stock options and other stock issuances | 733 | | | 489 | | | 507 | | | |\n| 33 | Repurchase of common stock | (4,254 | ) | | (3,223 | ) | | (3,238 | ) | | |\n| 34 | Dividends - common and preferred | (1,243 | ) | | (1,133 | ) | | (1,022 | ) | | |\n| 35 | Tax payments for net share settlement of equity awards | (55 | ) | | (29 | ) | | (22 | ) | | |\n| 36 | Cash used by financing activities | (4,835 | ) | | (2,148 | ) | | (2,974 | ) | | |\n| 37 | Effect of exchange rate changes on cash and equivalents | 45 | | | (20 | ) | | (105 | ) | | |\n| 38 | Net increase (decrease) in cash and equivalents | 441 | | | 670 | | | (714 | ) | | |\n| 39 | Cash and equivalents, beginning of year | 3,808 | | | 3,138 | | | 3,852 | | | |\n| 40 | CASH AND EQUIVALENTS, END OF YEAR | $ | 4,249 | | | $ | 3,808 | | | $ | 3,138 |\n| 41 | Supplemental disclosure of cash flow information: | | | | | | | | | | |\n| 42 | Cash paid during the year for: | | | | | | | | | | |\n| 43 | Interest, net of capitalized interest | $ | 125 | | | $ | 98 | | | $ | 70 |\n| 44 | Income taxes | 529 | | | 703 | | | 748 | | | |\n| 45 | Non-cash additions to property, plant and equipment | 294 | | | 266 | | | 252 | | | |\n| 46 | Dividends declared and not paid | 320 | | | 300 | | | 271 | | | |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n, \n| | |\n|---:|:-------------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Cash Flows |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------------------------------------|:-------------------|:------|:-----|:-------|:-----|:------|:-------|:---|:---|:------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Cash provided by operations: | | | | | | | | | | |\n| 5 | Net income | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 6 | Adjustments to reconcile net income to net cash provided by operations: | | | | | | | | | | |\n| 7 | Depreciation | 747 | | | 706 | | | 649 | | | |\n| 8 | Deferred income taxes | 647 | | | (273 | ) | | (80 | ) | | |\n| 9 | Stock-based compensation | 218 | | | 215 | | | 236 | | | |\n| 10 | Amortization and other | 27 | | | 10 | | | 13 | | | |\n| 11 | Net foreign currency adjustments | (99 | ) | | (117 | ) | | 98 | | | |\n| 12 | Changes in certain working capital components and other assets and liabilities: | | | | | | | | | | |\n| 13 | Decrease (increase) in accounts receivable | 187 | | | (426 | ) | | 60 | | | |\n| 14 | (Increase) in inventories | (255 | ) | | (231 | ) | | (590 | ) | | |\n| 15 | Decrease (increase) in prepaid expenses and other current and non-current assets | 35 | | | (120 | ) | | (161 | ) | | |\n| 16 | Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities | 1,515 | | | (158 | ) | | (586 | ) | | |\n| 17 | Cash provided by operations | 4,955 | | | 3,846 | | | 3,399 | | | |\n| 18 | Cash provided (used) by investing activities: | | | | | | | | | | |\n| 19 | Purchases of short-term investments | (4,783 | ) | | (5,928 | ) | | (5,367 | ) | | |\n| 20 | Maturities of short-term investments | 3,613 | | | 3,623 | | | 2,924 | | | |\n| 21 | Sales of short-term investments | 2,496 | | | 2,423 | | | 2,386 | | | |\n| 22 | Investments in reverse repurchase agreements | - | | | - | | | 150 | | | |\n| 23 | Additions to property, plant and equipment | (1,028 | ) | | (1,105 | ) | | (1,143 | ) | | |\n| 24 | Disposals of property, plant and equipment | 3 | | | 13 | | | 10 | | | |\n| 25 | Other investing activities | (25 | ) | | (34 | ) | | 6 | | | |\n| 26 | Cash provided (used) by investing activities | 276 | | | (1,008 | ) | | (1,034 | ) | | |\n| 27 | Cash used by financing activities: | | | | | | | | | | |\n| 28 | Net proceeds from long-term debt issuance | - | | | 1,482 | | | 981 | | | |\n| 29 | Long-term debt payments, including current portion | (6 | ) | | (44 | ) | | (106 | ) | | |\n| 30 | Increase (decrease) in notes payable | 13 | | | 327 | | | (67 | ) | | |\n| 31 | Payments on capital lease and other financing obligations | (23 | ) | | (17 | ) | | (7 | ) | | |\n| 32 | Proceeds from exercise of stock options and other stock issuances | 733 | | | 489 | | | 507 | | | |\n| 33 | Repurchase of common stock | (4,254 | ) | | (3,223 | ) | | (3,238 | ) | | |\n| 34 | Dividends - common and preferred | (1,243 | ) | | (1,133 | ) | | (1,022 | ) | | |\n| 35 | Tax payments for net share settlement of equity awards | (55 | ) | | (29 | ) | | (22 | ) | | |\n| 36 | Cash used by financing activities | (4,835 | ) | | (2,148 | ) | | (2,974 | ) | | |\n| 37 | Effect of exchange rate changes on cash and equivalents | 45 | | | (20 | ) | | (105 | ) | | |\n| 38 | Net increase (decrease) in cash and equivalents | 441 | | | 670 | | | (714 | ) | | |\n| 39 | Cash and equivalents, beginning of year | 3,808 | | | 3,138 | | | 3,852 | | | |\n| 40 | CASH AND EQUIVALENTS, END OF YEAR | $ | 4,249 | | | $ | 3,808 | | | $ | 3,138 |\n| 41 | Supplemental disclosure of cash flow information: | | | | | | | | | | |\n| 42 | Cash paid during the year for: | | | | | | | | | | |\n| 43 | Interest, net of capitalized interest | $ | 125 | | | $ | 98 | | | $ | 70 |\n| 44 | Income taxes | 529 | | | 703 | | | 748 | | | |\n| 45 | Non-cash additions to property, plant and equipment | 294 | | | 266 | | | 252 | | | |\n| 46 | Dividends declared and not paid | 320 | | | 300 | | | 271 | | | |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n, NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 47: \n
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NIKE, Inc. Consolidated Statements of Cash Flows<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net income<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
Adjustments to reconcile net income to net cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Depreciation<\/td> <\/td>747<\/td><\/td> <\/td>706<\/td><\/td> <\/td>649<\/td><\/td><\/tr>
Deferred income taxes<\/td> <\/td>647<\/td><\/td> <\/td>(273<\/td>)<\/td> <\/td>(80<\/td>)<\/td><\/tr>
Stock-based compensation<\/td> <\/td>218<\/td><\/td> <\/td>215<\/td><\/td> <\/td>236<\/td><\/td><\/tr>
Amortization and other<\/td> <\/td>27<\/td><\/td> <\/td>10<\/td><\/td> <\/td>13<\/td><\/td><\/tr>
Net foreign currency adjustments<\/td> <\/td>(99<\/td>)<\/td> <\/td>(117<\/td>)<\/td> <\/td>98<\/td><\/td><\/tr>
Changes in certain working capital components and other assets and liabilities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Decrease (increase) in accounts receivable<\/td> <\/td>187<\/td><\/td> <\/td>(426<\/td>)<\/td> <\/td>60<\/td><\/td><\/tr>
(Increase) in inventories<\/td> <\/td>(255<\/td>)<\/td> <\/td>(231<\/td>)<\/td> <\/td>(590<\/td>)<\/td><\/tr>
Decrease (increase) in prepaid expenses and other current and non-current assets<\/td> <\/td>35<\/td><\/td> <\/td>(120<\/td>)<\/td> <\/td>(161<\/td>)<\/td><\/tr>
Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities<\/td> <\/td>1,515<\/td><\/td> <\/td>(158<\/td>)<\/td> <\/td>(586<\/td>)<\/td><\/tr>
Cash provided by operations<\/td> <\/td>4,955<\/td><\/td> <\/td>3,846<\/td><\/td> <\/td>3,399<\/td><\/td><\/tr>
Cash provided (used) by investing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Purchases of short-term investments<\/td> <\/td>(4,783<\/td>)<\/td> <\/td>(5,928<\/td>)<\/td> <\/td>(5,367<\/td>)<\/td><\/tr>
Maturities of short-term investments<\/td> <\/td>3,613<\/td><\/td> <\/td>3,623<\/td><\/td> <\/td>2,924<\/td><\/td><\/tr>
Sales of short-term investments<\/td> <\/td>2,496<\/td><\/td> <\/td>2,423<\/td><\/td> <\/td>2,386<\/td><\/td><\/tr>
Investments in reverse repurchase agreements<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>150<\/td><\/td><\/tr>
Additions to property, plant and equipment<\/td> <\/td>(1,028<\/td>)<\/td> <\/td>(1,105<\/td>)<\/td> <\/td>(1,143<\/td>)<\/td><\/tr>
Disposals of property, plant and equipment<\/td> <\/td>3<\/td><\/td> <\/td>13<\/td><\/td> <\/td>10<\/td><\/td><\/tr>
Other investing activities<\/td> <\/td>(25<\/td>)<\/td> <\/td>(34<\/td>)<\/td> <\/td>6<\/td><\/td><\/tr>
Cash provided (used) by investing activities<\/td> <\/td>276<\/td><\/td> <\/td>(1,008<\/td>)<\/td> <\/td>(1,034<\/td>)<\/td><\/tr>
Cash used by financing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net proceeds from long-term debt issuance<\/td> <\/td>-<\/td><\/td> <\/td>1,482<\/td><\/td> <\/td>981<\/td><\/td><\/tr>
Long-term debt payments, including current portion<\/td> <\/td>(6<\/td>)<\/td> <\/td>(44<\/td>)<\/td> <\/td>(106<\/td>)<\/td><\/tr>
Increase (decrease) in notes payable<\/td> <\/td>13<\/td><\/td> <\/td>327<\/td><\/td> <\/td>(67<\/td>)<\/td><\/tr>
Payments on capital lease and other financing obligations<\/td> <\/td>(23<\/td>)<\/td> <\/td>(17<\/td>)<\/td> <\/td>(7<\/td>)<\/td><\/tr>
Proceeds from exercise of stock options and other stock issuances<\/td> <\/td>733<\/td><\/td> <\/td>489<\/td><\/td> <\/td>507<\/td><\/td><\/tr>
Repurchase of common stock<\/td> <\/td>(4,254<\/td>)<\/td> <\/td>(3,223<\/td>)<\/td> <\/td>(3,238<\/td>)<\/td><\/tr>
Dividends - common and preferred<\/td> <\/td>(1,243<\/td>)<\/td> <\/td>(1,133<\/td>)<\/td> <\/td>(1,022<\/td>)<\/td><\/tr>
Tax payments for net share settlement of equity awards<\/td> <\/td>(55<\/td>)<\/td> <\/td>(29<\/td>)<\/td> <\/td>(22<\/td>)<\/td><\/tr>
Cash used by financing activities<\/td> <\/td>(4,835<\/td>)<\/td> <\/td>(2,148<\/td>)<\/td> <\/td>(2,974<\/td>)<\/td><\/tr>
Effect of exchange rate changes on cash and equivalents<\/td> <\/td>45<\/td><\/td> <\/td>(20<\/td>)<\/td> <\/td>(105<\/td>)<\/td><\/tr>
Net increase (decrease) in cash and equivalents<\/td> <\/td>441<\/td><\/td> <\/td>670<\/td><\/td> <\/td>(714<\/td>)<\/td><\/tr>
Cash and equivalents, beginning of year<\/td> <\/td>3,808<\/td><\/td> <\/td>3,138<\/td><\/td> <\/td>3,852<\/td><\/td><\/tr>
CASH AND EQUIVALENTS, END OF YEAR<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td> <\/td>$<\/td>3,138<\/td><\/td><\/tr>
Supplemental disclosure of cash flow information:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash paid during the year for:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Interest, net of capitalized interest<\/td> <\/td>$<\/td>125<\/td><\/td> <\/td>$<\/td>98<\/td><\/td> <\/td>$<\/td>70<\/td><\/td><\/tr>
Income taxes<\/td> <\/td>529<\/td><\/td> <\/td>703<\/td><\/td> <\/td>748<\/td><\/td><\/tr>
Non-cash additions to property, plant and equipment<\/td> <\/td>294<\/td><\/td> <\/td>266<\/td><\/td> <\/td>252<\/td><\/td><\/tr>
Dividends declared and not paid<\/td> <\/td>320<\/td><\/td> <\/td>300<\/td><\/td> <\/td>271<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n, \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Cash Flows<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net income<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
Adjustments to reconcile net income to net cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Depreciation<\/td> <\/td>747<\/td><\/td> <\/td>706<\/td><\/td> <\/td>649<\/td><\/td><\/tr>
Deferred income taxes<\/td> <\/td>647<\/td><\/td> <\/td>(273<\/td>)<\/td> <\/td>(80<\/td>)<\/td><\/tr>
Stock-based compensation<\/td> <\/td>218<\/td><\/td> <\/td>215<\/td><\/td> <\/td>236<\/td><\/td><\/tr>
Amortization and other<\/td> <\/td>27<\/td><\/td> <\/td>10<\/td><\/td> <\/td>13<\/td><\/td><\/tr>
Net foreign currency adjustments<\/td> <\/td>(99<\/td>)<\/td> <\/td>(117<\/td>)<\/td> <\/td>98<\/td><\/td><\/tr>
Changes in certain working capital components and other assets and liabilities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Decrease (increase) in accounts receivable<\/td> <\/td>187<\/td><\/td> <\/td>(426<\/td>)<\/td> <\/td>60<\/td><\/td><\/tr>
(Increase) in inventories<\/td> <\/td>(255<\/td>)<\/td> <\/td>(231<\/td>)<\/td> <\/td>(590<\/td>)<\/td><\/tr>
Decrease (increase) in prepaid expenses and other current and non-current assets<\/td> <\/td>35<\/td><\/td> <\/td>(120<\/td>)<\/td> <\/td>(161<\/td>)<\/td><\/tr>
Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities<\/td> <\/td>1,515<\/td><\/td> <\/td>(158<\/td>)<\/td> <\/td>(586<\/td>)<\/td><\/tr>
Cash provided by operations<\/td> <\/td>4,955<\/td><\/td> <\/td>3,846<\/td><\/td> <\/td>3,399<\/td><\/td><\/tr>
Cash provided (used) by investing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Purchases of short-term investments<\/td> <\/td>(4,783<\/td>)<\/td> <\/td>(5,928<\/td>)<\/td> <\/td>(5,367<\/td>)<\/td><\/tr>
Maturities of short-term investments<\/td> <\/td>3,613<\/td><\/td> <\/td>3,623<\/td><\/td> <\/td>2,924<\/td><\/td><\/tr>
Sales of short-term investments<\/td> <\/td>2,496<\/td><\/td> <\/td>2,423<\/td><\/td> <\/td>2,386<\/td><\/td><\/tr>
Investments in reverse repurchase agreements<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>150<\/td><\/td><\/tr>
Additions to property, plant and equipment<\/td> <\/td>(1,028<\/td>)<\/td> <\/td>(1,105<\/td>)<\/td> <\/td>(1,143<\/td>)<\/td><\/tr>
Disposals of property, plant and equipment<\/td> <\/td>3<\/td><\/td> <\/td>13<\/td><\/td> <\/td>10<\/td><\/td><\/tr>
Other investing activities<\/td> <\/td>(25<\/td>)<\/td> <\/td>(34<\/td>)<\/td> <\/td>6<\/td><\/td><\/tr>
Cash provided (used) by investing activities<\/td> <\/td>276<\/td><\/td> <\/td>(1,008<\/td>)<\/td> <\/td>(1,034<\/td>)<\/td><\/tr>
Cash used by financing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net proceeds from long-term debt issuance<\/td> <\/td>-<\/td><\/td> <\/td>1,482<\/td><\/td> <\/td>981<\/td><\/td><\/tr>
Long-term debt payments, including current portion<\/td> <\/td>(6<\/td>)<\/td> <\/td>(44<\/td>)<\/td> <\/td>(106<\/td>)<\/td><\/tr>
Increase (decrease) in notes payable<\/td> <\/td>13<\/td><\/td> <\/td>327<\/td><\/td> <\/td>(67<\/td>)<\/td><\/tr>
Payments on capital lease and other financing obligations<\/td> <\/td>(23<\/td>)<\/td> <\/td>(17<\/td>)<\/td> <\/td>(7<\/td>)<\/td><\/tr>
Proceeds from exercise of stock options and other stock issuances<\/td> <\/td>733<\/td><\/td> <\/td>489<\/td><\/td> <\/td>507<\/td><\/td><\/tr>
Repurchase of common stock<\/td> <\/td>(4,254<\/td>)<\/td> <\/td>(3,223<\/td>)<\/td> <\/td>(3,238<\/td>)<\/td><\/tr>
Dividends - common and preferred<\/td> <\/td>(1,243<\/td>)<\/td> <\/td>(1,133<\/td>)<\/td> <\/td>(1,022<\/td>)<\/td><\/tr>
Tax payments for net share settlement of equity awards<\/td> <\/td>(55<\/td>)<\/td> <\/td>(29<\/td>)<\/td> <\/td>(22<\/td>)<\/td><\/tr>
Cash used by financing activities<\/td> <\/td>(4,835<\/td>)<\/td> <\/td>(2,148<\/td>)<\/td> <\/td>(2,974<\/td>)<\/td><\/tr>
Effect of exchange rate changes on cash and equivalents<\/td> <\/td>45<\/td><\/td> <\/td>(20<\/td>)<\/td> <\/td>(105<\/td>)<\/td><\/tr>
Net increase (decrease) in cash and equivalents<\/td> <\/td>441<\/td><\/td> <\/td>670<\/td><\/td> <\/td>(714<\/td>)<\/td><\/tr>
Cash and equivalents, beginning of year<\/td> <\/td>3,808<\/td><\/td> <\/td>3,138<\/td><\/td> <\/td>3,852<\/td><\/td><\/tr>
CASH AND EQUIVALENTS, END OF YEAR<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td> <\/td>$<\/td>3,138<\/td><\/td><\/tr>
Supplemental disclosure of cash flow information:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash paid during the year for:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Interest, net of capitalized interest<\/td> <\/td>$<\/td>125<\/td><\/td> <\/td>$<\/td>98<\/td><\/td> <\/td>$<\/td>70<\/td><\/td><\/tr>
Income taxes<\/td> <\/td>529<\/td><\/td> <\/td>703<\/td><\/td> <\/td>748<\/td><\/td><\/tr>
Non-cash additions to property, plant and equipment<\/td> <\/td>294<\/td><\/td> <\/td>266<\/td><\/td> <\/td>252<\/td><\/td><\/tr>
Dividends declared and not paid<\/td> <\/td>320<\/td><\/td> <\/td>300<\/td><\/td> <\/td>271<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n"} +{"QID":"q_Ra181","Question":"How did Nike's total revenue in 2018 compare to 2017?","ground_truth_answer":"Total Revenue (2018) = $36,397 million\nTotal Revenue (2017) = $34,350 million\nFormula:\nPercentage Growth = ((Revenue 2018 - Revenue 2017) \/ Revenue 2017) \u00d7 100\n\nCalculation:\nPercentage Growth = ((36,397 - 34,350) \/ 34,350) \u00d7 100 \u2248 5.96%","question_type":"Ratio","page_number":44,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Income |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------|:-------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:---|:-------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions, except per share data) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Revenues | $ | 36,397 | | | $ | 34,350 | | | $ | 32,376 |\n| 5 | Cost of sales | 20,441 | | | 19,038 | | | 17,405 | | | |\n| 6 | Gross profit | 15,956 | | | 15,312 | | | 14,971 | | | |\n| 7 | Demand creation expense | 3,577 | | | 3,341 | | | 3,278 | | | |\n| 8 | Operating overhead expense | 7,934 | | | 7,222 | | | 7,191 | | | |\n| 9 | Total selling and administrative expense | 11,511 | | | 10,563 | | | 10,469 | | | |\n| 10 | Interest expense (income), net | 54 | | | 59 | | | 19 | | | |\n| 11 | Other expense (income), net | 66 | | | (196 | ) | | (140 | ) | | |\n| 12 | Income before income taxes | 4,325 | | | 4,886 | | | 4,623 | | | |\n| 13 | Income tax expense | 2,392 | | | 646 | | | 863 | | | |\n| 14 | NET INCOME | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 16 | Earnings per common share: | | | | | | | | | | |\n| 17 | Basic | $ | 1.19 | | | $ | 2.56 | | | $ | 2.21 |\n| 18 | Diluted | $ | 1.17 | | | $ | 2.51 | | | $ | 2.16 |\n| 20 | Dividends declared per common share | $ | 0.78 | | | $ | 0.70 | | | $ | 0.62 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 44: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Income<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Revenues<\/td> <\/td>$<\/td>36,397<\/td><\/td> <\/td>$<\/td>34,350<\/td><\/td> <\/td>$<\/td>32,376<\/td><\/td><\/tr>
Cost of sales<\/td> <\/td>20,441<\/td><\/td> <\/td>19,038<\/td><\/td> <\/td>17,405<\/td><\/td><\/tr>
Gross profit<\/td> <\/td>15,956<\/td><\/td> <\/td>15,312<\/td><\/td> <\/td>14,971<\/td><\/td><\/tr>
Demand creation expense<\/td> <\/td>3,577<\/td><\/td> <\/td>3,341<\/td><\/td> <\/td>3,278<\/td><\/td><\/tr>
Operating overhead expense<\/td> <\/td>7,934<\/td><\/td> <\/td>7,222<\/td><\/td> <\/td>7,191<\/td><\/td><\/tr>
Total selling and administrative expense<\/td> <\/td>11,511<\/td><\/td> <\/td>10,563<\/td><\/td> <\/td>10,469<\/td><\/td><\/tr>
Interest expense (income), net<\/td> <\/td>54<\/td><\/td> <\/td>59<\/td><\/td> <\/td>19<\/td><\/td><\/tr>
Other expense (income), net<\/td> <\/td>66<\/td><\/td> <\/td>(196<\/td>)<\/td> <\/td>(140<\/td>)<\/td><\/tr>
Income before income taxes<\/td> <\/td>4,325<\/td><\/td> <\/td>4,886<\/td><\/td> <\/td>4,623<\/td><\/td><\/tr>
Income tax expense<\/td> <\/td>2,392<\/td><\/td> <\/td>646<\/td><\/td> <\/td>863<\/td><\/td><\/tr>
NET INCOME<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Earnings per common share:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Basic<\/td> <\/td>$<\/td>1.19<\/td><\/td> <\/td>$<\/td>2.56<\/td><\/td> <\/td>$<\/td>2.21<\/td><\/td><\/tr>
Diluted<\/td> <\/td>$<\/td>1.17<\/td><\/td> <\/td>$<\/td>2.51<\/td><\/td> <\/td>$<\/td>2.16<\/td><\/td><\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Dividends declared per common share<\/td> <\/td>$<\/td>0.78<\/td><\/td> <\/td>$<\/td>0.70<\/td><\/td> <\/td>$<\/td>0.62<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n44\n\n\n\n"} +{"QID":"q_Ra182","Question":"What is the percentage change in total assets between 2017 and 2018?","ground_truth_answer":"Assets 2018: $22,536 million\nAssets 2017: $23,259 million\n\nFormula:\nPercentage Change in Assets = ((Assets 2018 - Assets 2017) \/ Assets 2017) \u00d7 100\n\nCalculation:\nPercentage Change = ((22,536 - 23,259) \/ 23,259) \u00d7 100\nPercentage Change = (-723 \/ 23,259) \u00d7 100 \u2248 -3.11%\n\nTotal assets decreased by approximately 3.11% from 2017 to 2018","question_type":"Ratio","page_number":46,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n"} +{"QID":"q_Ra183","Question":"What is the percentage change in shareholders' equity between 2017 and 2018?","ground_truth_answer":"Equity 2018: $9,812 million\nEquity 2017: $12,407 million\n\nFormula:\nPercentage Change in Equity = ((Equity 2018 - Equity 2017) \/ Equity 2017) \u00d7 100\n\nCalculation:\nPercentage Change = ((9,812 - 12,407) \/ 12,407) \u00d7 100\nPercentage Change = (-2,595 \/ 12,407) \u00d7 100 \u2248 -20.92%\n\nShareholders' equity decreased by approximately 20.92% from 2017 to 2018.","question_type":"Ratio","page_number":46,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:---------------------------------------|\n| 2 | NIKE, Inc. Consolidated Balance Sheets |\n\n| | | | | | | | |\n|---:|:-----------------------------------------------------|:--------|:-------|:-----|:-------|:---|:-------|\n| 2 | | May 31, | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | | |\n| 4 | ASSETS | | | | | | |\n| 5 | Current assets: | | | | | | |\n| 6 | Cash and equivalents | $ | 4,249 | | | $ | 3,808 |\n| 7 | Short-term investments | 996 | | | 2,371 | | |\n| 8 | Accounts receivable, net | 3,498 | | | 3,677 | | |\n| 9 | Inventories | 5,261 | | | 5,055 | | |\n| 10 | Prepaid expenses and other current assets | 1,130 | | | 1,150 | | |\n| 11 | Total current assets | 15,134 | | | 16,061 | | |\n| 12 | Property, plant and equipment, net | 4,454 | | | 3,989 | | |\n| 13 | Identifiable intangible assets, net | 285 | | | 283 | | |\n| 14 | Goodwill | 154 | | | 139 | | |\n| 15 | Deferred income taxes and other assets | 2,509 | | | 2,787 | | |\n| 16 | TOTAL ASSETS | $ | 22,536 | | | $ | 23,259 |\n| 17 | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | |\n| 18 | Current liabilities: | | | | | | |\n| 19 | Current portion of long-term debt | $ | 6 | | | $ | 6 |\n| 20 | Notes payable | 336 | | | 325 | | |\n| 21 | Accounts payable | 2,279 | | | 2,048 | | |\n| 22 | Accrued liabilities | 3,269 | | | 3,011 | | |\n| 23 | Income taxes payable | 150 | | | 84 | | |\n| 24 | Total current liabilities | 6,040 | | | 5,474 | | |\n| 25 | Long-term debt | 3,468 | | | 3,471 | | |\n| 26 | Deferred income taxes and other liabilities | 3,216 | | | 1,907 | | |\n| 27 | Commitments and contingencies (Note 15) | | | | | | |\n| 28 | Redeemable preferred stock | - | | | - | | |\n| 29 | Shareholders' equity: | | | | | | |\n| 30 | Common stock at stated value: | | | | | | |\n| 31 | Class A convertible - 329 and 329 shares outstanding | - | | | - | | |\n| 32 | Class B - 1,272 and 1,314 shares outstanding | 3 | | | 3 | | |\n| 33 | Capital in excess of stated value | 6,384 | | | 5,710 | | |\n| 34 | Accumulated other comprehensive loss | (92 | ) | | (213 | ) | |\n| 35 | Retained earnings | 3,517 | | | 6,907 | | |\n| 36 | Total shareholders' equity | 9,812 | | | 12,407 | | |\n| 37 | TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 22,536 | | | $ | 23,259 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 46: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Balance Sheets<\/td><\/tr><\/table>\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td><\/tr>
ASSETS<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current assets:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash and equivalents<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td><\/tr>
Short-term investments<\/td> <\/td>996<\/td><\/td> <\/td>2,371<\/td><\/td><\/tr>
Accounts receivable, net<\/td> <\/td>3,498<\/td><\/td> <\/td>3,677<\/td><\/td><\/tr>
Inventories<\/td> <\/td>5,261<\/td><\/td> <\/td>5,055<\/td><\/td><\/tr>
Prepaid expenses and other current assets<\/td> <\/td>1,130<\/td><\/td> <\/td>1,150<\/td><\/td><\/tr>
Total current assets<\/td> <\/td>15,134<\/td><\/td> <\/td>16,061<\/td><\/td><\/tr>
Property, plant and equipment, net<\/td> <\/td>4,454<\/td><\/td> <\/td>3,989<\/td><\/td><\/tr>
Identifiable intangible assets, net<\/td> <\/td>285<\/td><\/td> <\/td>283<\/td><\/td><\/tr>
Goodwill<\/td> <\/td>154<\/td><\/td> <\/td>139<\/td><\/td><\/tr>
Deferred income taxes and other assets<\/td> <\/td>2,509<\/td><\/td> <\/td>2,787<\/td><\/td><\/tr>
TOTAL ASSETS<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr>
LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current liabilities:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Current portion of long-term debt<\/td> <\/td>$<\/td>6<\/td><\/td> <\/td>$<\/td>6<\/td><\/td><\/tr>
Notes payable<\/td> <\/td>336<\/td><\/td> <\/td>325<\/td><\/td><\/tr>
Accounts payable<\/td> <\/td>2,279<\/td><\/td> <\/td>2,048<\/td><\/td><\/tr>
Accrued liabilities<\/td> <\/td>3,269<\/td><\/td> <\/td>3,011<\/td><\/td><\/tr>
Income taxes payable<\/td> <\/td>150<\/td><\/td> <\/td>84<\/td><\/td><\/tr>
Total current liabilities<\/td> <\/td>6,040<\/td><\/td> <\/td>5,474<\/td><\/td><\/tr>
Long-term debt<\/td> <\/td>3,468<\/td><\/td> <\/td>3,471<\/td><\/td><\/tr>
Deferred income taxes and other liabilities<\/td> <\/td>3,216<\/td><\/td> <\/td>1,907<\/td><\/td><\/tr>
Commitments and contingencies (Note 15)<\/td> <\/td><\/td><\/td> <\/td><\/td><\/td><\/tr>
Redeemable preferred stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Shareholders' equity:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Common stock at stated value:<\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Class A convertible - 329 and 329 shares outstanding<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td><\/tr>
Class B - 1,272 and 1,314 shares outstanding<\/td> <\/td>3<\/td><\/td> <\/td>3<\/td><\/td><\/tr>
Capital in excess of stated value<\/td> <\/td>6,384<\/td><\/td> <\/td>5,710<\/td><\/td><\/tr>
Accumulated other comprehensive loss<\/td> <\/td>(92<\/td>)<\/td> <\/td>(213<\/td>)<\/td><\/tr>
Retained earnings<\/td> <\/td>3,517<\/td><\/td> <\/td>6,907<\/td><\/td><\/tr>
Total shareholders' equity<\/td> <\/td>9,812<\/td><\/td> <\/td>12,407<\/td><\/td><\/tr>
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY<\/td> <\/td>$<\/td>22,536<\/td><\/td> <\/td>$<\/td>23,259<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n46\n\n\n\n"} +{"QID":"q_Ra184","Question":"How did the repurchase of common stock in 2018 compare to 2017?","ground_truth_answer":"Repurchase of Common Stock 2018: $4,254 million\nRepurchase of Common Stock 2017: $3,223 million\n\nFormula:\nPercentage Change in Repurchase of Common Stock = ((Repurchase 2018 - Repurchase 2017) \/ Repurchase 2017) \u00d7 100\n\nCalculation:\nPercentage Change = ((4,254 - 3,223) \/ 3,223) \u00d7 100\nPercentage Change = (1,031 \/ 3,223) \u00d7 100 \u2248 31.99%\n\nAnswer:\nThe repurchase of common stock increased by approximately 31.99% from 2017 to 2018. This indicates that Nike accelerated its share buyback program in 2018, which could be a strategy to return more value to shareholders or a signal of confidence in the company's financial stability and future performance.","question_type":"Ratio","page_number":47,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 47: \n| | |\n|---:|:-------------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Cash Flows |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------------------------------------|:-------------------|:------|:-----|:-------|:-----|:------|:-------|:---|:---|:------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Cash provided by operations: | | | | | | | | | | |\n| 5 | Net income | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 6 | Adjustments to reconcile net income to net cash provided by operations: | | | | | | | | | | |\n| 7 | Depreciation | 747 | | | 706 | | | 649 | | | |\n| 8 | Deferred income taxes | 647 | | | (273 | ) | | (80 | ) | | |\n| 9 | Stock-based compensation | 218 | | | 215 | | | 236 | | | |\n| 10 | Amortization and other | 27 | | | 10 | | | 13 | | | |\n| 11 | Net foreign currency adjustments | (99 | ) | | (117 | ) | | 98 | | | |\n| 12 | Changes in certain working capital components and other assets and liabilities: | | | | | | | | | | |\n| 13 | Decrease (increase) in accounts receivable | 187 | | | (426 | ) | | 60 | | | |\n| 14 | (Increase) in inventories | (255 | ) | | (231 | ) | | (590 | ) | | |\n| 15 | Decrease (increase) in prepaid expenses and other current and non-current assets | 35 | | | (120 | ) | | (161 | ) | | |\n| 16 | Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities | 1,515 | | | (158 | ) | | (586 | ) | | |\n| 17 | Cash provided by operations | 4,955 | | | 3,846 | | | 3,399 | | | |\n| 18 | Cash provided (used) by investing activities: | | | | | | | | | | |\n| 19 | Purchases of short-term investments | (4,783 | ) | | (5,928 | ) | | (5,367 | ) | | |\n| 20 | Maturities of short-term investments | 3,613 | | | 3,623 | | | 2,924 | | | |\n| 21 | Sales of short-term investments | 2,496 | | | 2,423 | | | 2,386 | | | |\n| 22 | Investments in reverse repurchase agreements | - | | | - | | | 150 | | | |\n| 23 | Additions to property, plant and equipment | (1,028 | ) | | (1,105 | ) | | (1,143 | ) | | |\n| 24 | Disposals of property, plant and equipment | 3 | | | 13 | | | 10 | | | |\n| 25 | Other investing activities | (25 | ) | | (34 | ) | | 6 | | | |\n| 26 | Cash provided (used) by investing activities | 276 | | | (1,008 | ) | | (1,034 | ) | | |\n| 27 | Cash used by financing activities: | | | | | | | | | | |\n| 28 | Net proceeds from long-term debt issuance | - | | | 1,482 | | | 981 | | | |\n| 29 | Long-term debt payments, including current portion | (6 | ) | | (44 | ) | | (106 | ) | | |\n| 30 | Increase (decrease) in notes payable | 13 | | | 327 | | | (67 | ) | | |\n| 31 | Payments on capital lease and other financing obligations | (23 | ) | | (17 | ) | | (7 | ) | | |\n| 32 | Proceeds from exercise of stock options and other stock issuances | 733 | | | 489 | | | 507 | | | |\n| 33 | Repurchase of common stock | (4,254 | ) | | (3,223 | ) | | (3,238 | ) | | |\n| 34 | Dividends - common and preferred | (1,243 | ) | | (1,133 | ) | | (1,022 | ) | | |\n| 35 | Tax payments for net share settlement of equity awards | (55 | ) | | (29 | ) | | (22 | ) | | |\n| 36 | Cash used by financing activities | (4,835 | ) | | (2,148 | ) | | (2,974 | ) | | |\n| 37 | Effect of exchange rate changes on cash and equivalents | 45 | | | (20 | ) | | (105 | ) | | |\n| 38 | Net increase (decrease) in cash and equivalents | 441 | | | 670 | | | (714 | ) | | |\n| 39 | Cash and equivalents, beginning of year | 3,808 | | | 3,138 | | | 3,852 | | | |\n| 40 | CASH AND EQUIVALENTS, END OF YEAR | $ | 4,249 | | | $ | 3,808 | | | $ | 3,138 |\n| 41 | Supplemental disclosure of cash flow information: | | | | | | | | | | |\n| 42 | Cash paid during the year for: | | | | | | | | | | |\n| 43 | Interest, net of capitalized interest | $ | 125 | | | $ | 98 | | | $ | 70 |\n| 44 | Income taxes | 529 | | | 703 | | | 748 | | | |\n| 45 | Non-cash additions to property, plant and equipment | 294 | | | 266 | | | 252 | | | |\n| 46 | Dividends declared and not paid | 320 | | | 300 | | | 271 | | | |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:-------------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Cash Flows |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------------------------------------|:-------------------|:------|:-----|:-------|:-----|:------|:-------|:---|:---|:------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Cash provided by operations: | | | | | | | | | | |\n| 5 | Net income | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 6 | Adjustments to reconcile net income to net cash provided by operations: | | | | | | | | | | |\n| 7 | Depreciation | 747 | | | 706 | | | 649 | | | |\n| 8 | Deferred income taxes | 647 | | | (273 | ) | | (80 | ) | | |\n| 9 | Stock-based compensation | 218 | | | 215 | | | 236 | | | |\n| 10 | Amortization and other | 27 | | | 10 | | | 13 | | | |\n| 11 | Net foreign currency adjustments | (99 | ) | | (117 | ) | | 98 | | | |\n| 12 | Changes in certain working capital components and other assets and liabilities: | | | | | | | | | | |\n| 13 | Decrease (increase) in accounts receivable | 187 | | | (426 | ) | | 60 | | | |\n| 14 | (Increase) in inventories | (255 | ) | | (231 | ) | | (590 | ) | | |\n| 15 | Decrease (increase) in prepaid expenses and other current and non-current assets | 35 | | | (120 | ) | | (161 | ) | | |\n| 16 | Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities | 1,515 | | | (158 | ) | | (586 | ) | | |\n| 17 | Cash provided by operations | 4,955 | | | 3,846 | | | 3,399 | | | |\n| 18 | Cash provided (used) by investing activities: | | | | | | | | | | |\n| 19 | Purchases of short-term investments | (4,783 | ) | | (5,928 | ) | | (5,367 | ) | | |\n| 20 | Maturities of short-term investments | 3,613 | | | 3,623 | | | 2,924 | | | |\n| 21 | Sales of short-term investments | 2,496 | | | 2,423 | | | 2,386 | | | |\n| 22 | Investments in reverse repurchase agreements | - | | | - | | | 150 | | | |\n| 23 | Additions to property, plant and equipment | (1,028 | ) | | (1,105 | ) | | (1,143 | ) | | |\n| 24 | Disposals of property, plant and equipment | 3 | | | 13 | | | 10 | | | |\n| 25 | Other investing activities | (25 | ) | | (34 | ) | | 6 | | | |\n| 26 | Cash provided (used) by investing activities | 276 | | | (1,008 | ) | | (1,034 | ) | | |\n| 27 | Cash used by financing activities: | | | | | | | | | | |\n| 28 | Net proceeds from long-term debt issuance | - | | | 1,482 | | | 981 | | | |\n| 29 | Long-term debt payments, including current portion | (6 | ) | | (44 | ) | | (106 | ) | | |\n| 30 | Increase (decrease) in notes payable | 13 | | | 327 | | | (67 | ) | | |\n| 31 | Payments on capital lease and other financing obligations | (23 | ) | | (17 | ) | | (7 | ) | | |\n| 32 | Proceeds from exercise of stock options and other stock issuances | 733 | | | 489 | | | 507 | | | |\n| 33 | Repurchase of common stock | (4,254 | ) | | (3,223 | ) | | (3,238 | ) | | |\n| 34 | Dividends - common and preferred | (1,243 | ) | | (1,133 | ) | | (1,022 | ) | | |\n| 35 | Tax payments for net share settlement of equity awards | (55 | ) | | (29 | ) | | (22 | ) | | |\n| 36 | Cash used by financing activities | (4,835 | ) | | (2,148 | ) | | (2,974 | ) | | |\n| 37 | Effect of exchange rate changes on cash and equivalents | 45 | | | (20 | ) | | (105 | ) | | |\n| 38 | Net increase (decrease) in cash and equivalents | 441 | | | 670 | | | (714 | ) | | |\n| 39 | Cash and equivalents, beginning of year | 3,808 | | | 3,138 | | | 3,852 | | | |\n| 40 | CASH AND EQUIVALENTS, END OF YEAR | $ | 4,249 | | | $ | 3,808 | | | $ | 3,138 |\n| 41 | Supplemental disclosure of cash flow information: | | | | | | | | | | |\n| 42 | Cash paid during the year for: | | | | | | | | | | |\n| 43 | Interest, net of capitalized interest | $ | 125 | | | $ | 98 | | | $ | 70 |\n| 44 | Income taxes | 529 | | | 703 | | | 748 | | | |\n| 45 | Non-cash additions to property, plant and equipment | 294 | | | 266 | | | 252 | | | |\n| 46 | Dividends declared and not paid | 320 | | | 300 | | | 271 | | | |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 47: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Cash Flows<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net income<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
Adjustments to reconcile net income to net cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Depreciation<\/td> <\/td>747<\/td><\/td> <\/td>706<\/td><\/td> <\/td>649<\/td><\/td><\/tr>
Deferred income taxes<\/td> <\/td>647<\/td><\/td> <\/td>(273<\/td>)<\/td> <\/td>(80<\/td>)<\/td><\/tr>
Stock-based compensation<\/td> <\/td>218<\/td><\/td> <\/td>215<\/td><\/td> <\/td>236<\/td><\/td><\/tr>
Amortization and other<\/td> <\/td>27<\/td><\/td> <\/td>10<\/td><\/td> <\/td>13<\/td><\/td><\/tr>
Net foreign currency adjustments<\/td> <\/td>(99<\/td>)<\/td> <\/td>(117<\/td>)<\/td> <\/td>98<\/td><\/td><\/tr>
Changes in certain working capital components and other assets and liabilities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Decrease (increase) in accounts receivable<\/td> <\/td>187<\/td><\/td> <\/td>(426<\/td>)<\/td> <\/td>60<\/td><\/td><\/tr>
(Increase) in inventories<\/td> <\/td>(255<\/td>)<\/td> <\/td>(231<\/td>)<\/td> <\/td>(590<\/td>)<\/td><\/tr>
Decrease (increase) in prepaid expenses and other current and non-current assets<\/td> <\/td>35<\/td><\/td> <\/td>(120<\/td>)<\/td> <\/td>(161<\/td>)<\/td><\/tr>
Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities<\/td> <\/td>1,515<\/td><\/td> <\/td>(158<\/td>)<\/td> <\/td>(586<\/td>)<\/td><\/tr>
Cash provided by operations<\/td> <\/td>4,955<\/td><\/td> <\/td>3,846<\/td><\/td> <\/td>3,399<\/td><\/td><\/tr>
Cash provided (used) by investing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Purchases of short-term investments<\/td> <\/td>(4,783<\/td>)<\/td> <\/td>(5,928<\/td>)<\/td> <\/td>(5,367<\/td>)<\/td><\/tr>
Maturities of short-term investments<\/td> <\/td>3,613<\/td><\/td> <\/td>3,623<\/td><\/td> <\/td>2,924<\/td><\/td><\/tr>
Sales of short-term investments<\/td> <\/td>2,496<\/td><\/td> <\/td>2,423<\/td><\/td> <\/td>2,386<\/td><\/td><\/tr>
Investments in reverse repurchase agreements<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>150<\/td><\/td><\/tr>
Additions to property, plant and equipment<\/td> <\/td>(1,028<\/td>)<\/td> <\/td>(1,105<\/td>)<\/td> <\/td>(1,143<\/td>)<\/td><\/tr>
Disposals of property, plant and equipment<\/td> <\/td>3<\/td><\/td> <\/td>13<\/td><\/td> <\/td>10<\/td><\/td><\/tr>
Other investing activities<\/td> <\/td>(25<\/td>)<\/td> <\/td>(34<\/td>)<\/td> <\/td>6<\/td><\/td><\/tr>
Cash provided (used) by investing activities<\/td> <\/td>276<\/td><\/td> <\/td>(1,008<\/td>)<\/td> <\/td>(1,034<\/td>)<\/td><\/tr>
Cash used by financing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net proceeds from long-term debt issuance<\/td> <\/td>-<\/td><\/td> <\/td>1,482<\/td><\/td> <\/td>981<\/td><\/td><\/tr>
Long-term debt payments, including current portion<\/td> <\/td>(6<\/td>)<\/td> <\/td>(44<\/td>)<\/td> <\/td>(106<\/td>)<\/td><\/tr>
Increase (decrease) in notes payable<\/td> <\/td>13<\/td><\/td> <\/td>327<\/td><\/td> <\/td>(67<\/td>)<\/td><\/tr>
Payments on capital lease and other financing obligations<\/td> <\/td>(23<\/td>)<\/td> <\/td>(17<\/td>)<\/td> <\/td>(7<\/td>)<\/td><\/tr>
Proceeds from exercise of stock options and other stock issuances<\/td> <\/td>733<\/td><\/td> <\/td>489<\/td><\/td> <\/td>507<\/td><\/td><\/tr>
Repurchase of common stock<\/td> <\/td>(4,254<\/td>)<\/td> <\/td>(3,223<\/td>)<\/td> <\/td>(3,238<\/td>)<\/td><\/tr>
Dividends - common and preferred<\/td> <\/td>(1,243<\/td>)<\/td> <\/td>(1,133<\/td>)<\/td> <\/td>(1,022<\/td>)<\/td><\/tr>
Tax payments for net share settlement of equity awards<\/td> <\/td>(55<\/td>)<\/td> <\/td>(29<\/td>)<\/td> <\/td>(22<\/td>)<\/td><\/tr>
Cash used by financing activities<\/td> <\/td>(4,835<\/td>)<\/td> <\/td>(2,148<\/td>)<\/td> <\/td>(2,974<\/td>)<\/td><\/tr>
Effect of exchange rate changes on cash and equivalents<\/td> <\/td>45<\/td><\/td> <\/td>(20<\/td>)<\/td> <\/td>(105<\/td>)<\/td><\/tr>
Net increase (decrease) in cash and equivalents<\/td> <\/td>441<\/td><\/td> <\/td>670<\/td><\/td> <\/td>(714<\/td>)<\/td><\/tr>
Cash and equivalents, beginning of year<\/td> <\/td>3,808<\/td><\/td> <\/td>3,138<\/td><\/td> <\/td>3,852<\/td><\/td><\/tr>
CASH AND EQUIVALENTS, END OF YEAR<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td> <\/td>$<\/td>3,138<\/td><\/td><\/tr>
Supplemental disclosure of cash flow information:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash paid during the year for:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Interest, net of capitalized interest<\/td> <\/td>$<\/td>125<\/td><\/td> <\/td>$<\/td>98<\/td><\/td> <\/td>$<\/td>70<\/td><\/td><\/tr>
Income taxes<\/td> <\/td>529<\/td><\/td> <\/td>703<\/td><\/td> <\/td>748<\/td><\/td><\/tr>
Non-cash additions to property, plant and equipment<\/td> <\/td>294<\/td><\/td> <\/td>266<\/td><\/td> <\/td>252<\/td><\/td><\/tr>
Dividends declared and not paid<\/td> <\/td>320<\/td><\/td> <\/td>300<\/td><\/td> <\/td>271<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Cash Flows<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net income<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
Adjustments to reconcile net income to net cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Depreciation<\/td> <\/td>747<\/td><\/td> <\/td>706<\/td><\/td> <\/td>649<\/td><\/td><\/tr>
Deferred income taxes<\/td> <\/td>647<\/td><\/td> <\/td>(273<\/td>)<\/td> <\/td>(80<\/td>)<\/td><\/tr>
Stock-based compensation<\/td> <\/td>218<\/td><\/td> <\/td>215<\/td><\/td> <\/td>236<\/td><\/td><\/tr>
Amortization and other<\/td> <\/td>27<\/td><\/td> <\/td>10<\/td><\/td> <\/td>13<\/td><\/td><\/tr>
Net foreign currency adjustments<\/td> <\/td>(99<\/td>)<\/td> <\/td>(117<\/td>)<\/td> <\/td>98<\/td><\/td><\/tr>
Changes in certain working capital components and other assets and liabilities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Decrease (increase) in accounts receivable<\/td> <\/td>187<\/td><\/td> <\/td>(426<\/td>)<\/td> <\/td>60<\/td><\/td><\/tr>
(Increase) in inventories<\/td> <\/td>(255<\/td>)<\/td> <\/td>(231<\/td>)<\/td> <\/td>(590<\/td>)<\/td><\/tr>
Decrease (increase) in prepaid expenses and other current and non-current assets<\/td> <\/td>35<\/td><\/td> <\/td>(120<\/td>)<\/td> <\/td>(161<\/td>)<\/td><\/tr>
Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities<\/td> <\/td>1,515<\/td><\/td> <\/td>(158<\/td>)<\/td> <\/td>(586<\/td>)<\/td><\/tr>
Cash provided by operations<\/td> <\/td>4,955<\/td><\/td> <\/td>3,846<\/td><\/td> <\/td>3,399<\/td><\/td><\/tr>
Cash provided (used) by investing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Purchases of short-term investments<\/td> <\/td>(4,783<\/td>)<\/td> <\/td>(5,928<\/td>)<\/td> <\/td>(5,367<\/td>)<\/td><\/tr>
Maturities of short-term investments<\/td> <\/td>3,613<\/td><\/td> <\/td>3,623<\/td><\/td> <\/td>2,924<\/td><\/td><\/tr>
Sales of short-term investments<\/td> <\/td>2,496<\/td><\/td> <\/td>2,423<\/td><\/td> <\/td>2,386<\/td><\/td><\/tr>
Investments in reverse repurchase agreements<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>150<\/td><\/td><\/tr>
Additions to property, plant and equipment<\/td> <\/td>(1,028<\/td>)<\/td> <\/td>(1,105<\/td>)<\/td> <\/td>(1,143<\/td>)<\/td><\/tr>
Disposals of property, plant and equipment<\/td> <\/td>3<\/td><\/td> <\/td>13<\/td><\/td> <\/td>10<\/td><\/td><\/tr>
Other investing activities<\/td> <\/td>(25<\/td>)<\/td> <\/td>(34<\/td>)<\/td> <\/td>6<\/td><\/td><\/tr>
Cash provided (used) by investing activities<\/td> <\/td>276<\/td><\/td> <\/td>(1,008<\/td>)<\/td> <\/td>(1,034<\/td>)<\/td><\/tr>
Cash used by financing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net proceeds from long-term debt issuance<\/td> <\/td>-<\/td><\/td> <\/td>1,482<\/td><\/td> <\/td>981<\/td><\/td><\/tr>
Long-term debt payments, including current portion<\/td> <\/td>(6<\/td>)<\/td> <\/td>(44<\/td>)<\/td> <\/td>(106<\/td>)<\/td><\/tr>
Increase (decrease) in notes payable<\/td> <\/td>13<\/td><\/td> <\/td>327<\/td><\/td> <\/td>(67<\/td>)<\/td><\/tr>
Payments on capital lease and other financing obligations<\/td> <\/td>(23<\/td>)<\/td> <\/td>(17<\/td>)<\/td> <\/td>(7<\/td>)<\/td><\/tr>
Proceeds from exercise of stock options and other stock issuances<\/td> <\/td>733<\/td><\/td> <\/td>489<\/td><\/td> <\/td>507<\/td><\/td><\/tr>
Repurchase of common stock<\/td> <\/td>(4,254<\/td>)<\/td> <\/td>(3,223<\/td>)<\/td> <\/td>(3,238<\/td>)<\/td><\/tr>
Dividends - common and preferred<\/td> <\/td>(1,243<\/td>)<\/td> <\/td>(1,133<\/td>)<\/td> <\/td>(1,022<\/td>)<\/td><\/tr>
Tax payments for net share settlement of equity awards<\/td> <\/td>(55<\/td>)<\/td> <\/td>(29<\/td>)<\/td> <\/td>(22<\/td>)<\/td><\/tr>
Cash used by financing activities<\/td> <\/td>(4,835<\/td>)<\/td> <\/td>(2,148<\/td>)<\/td> <\/td>(2,974<\/td>)<\/td><\/tr>
Effect of exchange rate changes on cash and equivalents<\/td> <\/td>45<\/td><\/td> <\/td>(20<\/td>)<\/td> <\/td>(105<\/td>)<\/td><\/tr>
Net increase (decrease) in cash and equivalents<\/td> <\/td>441<\/td><\/td> <\/td>670<\/td><\/td> <\/td>(714<\/td>)<\/td><\/tr>
Cash and equivalents, beginning of year<\/td> <\/td>3,808<\/td><\/td> <\/td>3,138<\/td><\/td> <\/td>3,852<\/td><\/td><\/tr>
CASH AND EQUIVALENTS, END OF YEAR<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td> <\/td>$<\/td>3,138<\/td><\/td><\/tr>
Supplemental disclosure of cash flow information:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash paid during the year for:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Interest, net of capitalized interest<\/td> <\/td>$<\/td>125<\/td><\/td> <\/td>$<\/td>98<\/td><\/td> <\/td>$<\/td>70<\/td><\/td><\/tr>
Income taxes<\/td> <\/td>529<\/td><\/td> <\/td>703<\/td><\/td> <\/td>748<\/td><\/td><\/tr>
Non-cash additions to property, plant and equipment<\/td> <\/td>294<\/td><\/td> <\/td>266<\/td><\/td> <\/td>252<\/td><\/td><\/tr>
Dividends declared and not paid<\/td> <\/td>320<\/td><\/td> <\/td>300<\/td><\/td> <\/td>271<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n"} +{"QID":"q_Ra185","Question":"What is the difference in purchases of short-term investments between 2017 and 2018?","ground_truth_answer":"Purchases of Short-term Investments 2018: $4,783 million\nPurchases of Short-term Investments 2017: $5,928 million\n\nFormula:\nDifference in Purchases = Purchases in 2018 - Purchases in 2017\n\nCalculation:\nDifference = (4,783 - 5,928)\nDifference = -1,145\n\nAnswer: Purchases of short-term investments decreased by $1,145 million from 2017 to 2018.","question_type":"Ratio","page_number":47,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 47: \n| | |\n|---:|:-------------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Cash Flows |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------------------------------------|:-------------------|:------|:-----|:-------|:-----|:------|:-------|:---|:---|:------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Cash provided by operations: | | | | | | | | | | |\n| 5 | Net income | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 6 | Adjustments to reconcile net income to net cash provided by operations: | | | | | | | | | | |\n| 7 | Depreciation | 747 | | | 706 | | | 649 | | | |\n| 8 | Deferred income taxes | 647 | | | (273 | ) | | (80 | ) | | |\n| 9 | Stock-based compensation | 218 | | | 215 | | | 236 | | | |\n| 10 | Amortization and other | 27 | | | 10 | | | 13 | | | |\n| 11 | Net foreign currency adjustments | (99 | ) | | (117 | ) | | 98 | | | |\n| 12 | Changes in certain working capital components and other assets and liabilities: | | | | | | | | | | |\n| 13 | Decrease (increase) in accounts receivable | 187 | | | (426 | ) | | 60 | | | |\n| 14 | (Increase) in inventories | (255 | ) | | (231 | ) | | (590 | ) | | |\n| 15 | Decrease (increase) in prepaid expenses and other current and non-current assets | 35 | | | (120 | ) | | (161 | ) | | |\n| 16 | Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities | 1,515 | | | (158 | ) | | (586 | ) | | |\n| 17 | Cash provided by operations | 4,955 | | | 3,846 | | | 3,399 | | | |\n| 18 | Cash provided (used) by investing activities: | | | | | | | | | | |\n| 19 | Purchases of short-term investments | (4,783 | ) | | (5,928 | ) | | (5,367 | ) | | |\n| 20 | Maturities of short-term investments | 3,613 | | | 3,623 | | | 2,924 | | | |\n| 21 | Sales of short-term investments | 2,496 | | | 2,423 | | | 2,386 | | | |\n| 22 | Investments in reverse repurchase agreements | - | | | - | | | 150 | | | |\n| 23 | Additions to property, plant and equipment | (1,028 | ) | | (1,105 | ) | | (1,143 | ) | | |\n| 24 | Disposals of property, plant and equipment | 3 | | | 13 | | | 10 | | | |\n| 25 | Other investing activities | (25 | ) | | (34 | ) | | 6 | | | |\n| 26 | Cash provided (used) by investing activities | 276 | | | (1,008 | ) | | (1,034 | ) | | |\n| 27 | Cash used by financing activities: | | | | | | | | | | |\n| 28 | Net proceeds from long-term debt issuance | - | | | 1,482 | | | 981 | | | |\n| 29 | Long-term debt payments, including current portion | (6 | ) | | (44 | ) | | (106 | ) | | |\n| 30 | Increase (decrease) in notes payable | 13 | | | 327 | | | (67 | ) | | |\n| 31 | Payments on capital lease and other financing obligations | (23 | ) | | (17 | ) | | (7 | ) | | |\n| 32 | Proceeds from exercise of stock options and other stock issuances | 733 | | | 489 | | | 507 | | | |\n| 33 | Repurchase of common stock | (4,254 | ) | | (3,223 | ) | | (3,238 | ) | | |\n| 34 | Dividends - common and preferred | (1,243 | ) | | (1,133 | ) | | (1,022 | ) | | |\n| 35 | Tax payments for net share settlement of equity awards | (55 | ) | | (29 | ) | | (22 | ) | | |\n| 36 | Cash used by financing activities | (4,835 | ) | | (2,148 | ) | | (2,974 | ) | | |\n| 37 | Effect of exchange rate changes on cash and equivalents | 45 | | | (20 | ) | | (105 | ) | | |\n| 38 | Net increase (decrease) in cash and equivalents | 441 | | | 670 | | | (714 | ) | | |\n| 39 | Cash and equivalents, beginning of year | 3,808 | | | 3,138 | | | 3,852 | | | |\n| 40 | CASH AND EQUIVALENTS, END OF YEAR | $ | 4,249 | | | $ | 3,808 | | | $ | 3,138 |\n| 41 | Supplemental disclosure of cash flow information: | | | | | | | | | | |\n| 42 | Cash paid during the year for: | | | | | | | | | | |\n| 43 | Interest, net of capitalized interest | $ | 125 | | | $ | 98 | | | $ | 70 |\n| 44 | Income taxes | 529 | | | 703 | | | 748 | | | |\n| 45 | Non-cash additions to property, plant and equipment | 294 | | | 266 | | | 252 | | | |\n| 46 | Dividends declared and not paid | 320 | | | 300 | | | 271 | | | |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:-------------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Cash Flows |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------------------------------------|:-------------------|:------|:-----|:-------|:-----|:------|:-------|:---|:---|:------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Cash provided by operations: | | | | | | | | | | |\n| 5 | Net income | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 6 | Adjustments to reconcile net income to net cash provided by operations: | | | | | | | | | | |\n| 7 | Depreciation | 747 | | | 706 | | | 649 | | | |\n| 8 | Deferred income taxes | 647 | | | (273 | ) | | (80 | ) | | |\n| 9 | Stock-based compensation | 218 | | | 215 | | | 236 | | | |\n| 10 | Amortization and other | 27 | | | 10 | | | 13 | | | |\n| 11 | Net foreign currency adjustments | (99 | ) | | (117 | ) | | 98 | | | |\n| 12 | Changes in certain working capital components and other assets and liabilities: | | | | | | | | | | |\n| 13 | Decrease (increase) in accounts receivable | 187 | | | (426 | ) | | 60 | | | |\n| 14 | (Increase) in inventories | (255 | ) | | (231 | ) | | (590 | ) | | |\n| 15 | Decrease (increase) in prepaid expenses and other current and non-current assets | 35 | | | (120 | ) | | (161 | ) | | |\n| 16 | Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities | 1,515 | | | (158 | ) | | (586 | ) | | |\n| 17 | Cash provided by operations | 4,955 | | | 3,846 | | | 3,399 | | | |\n| 18 | Cash provided (used) by investing activities: | | | | | | | | | | |\n| 19 | Purchases of short-term investments | (4,783 | ) | | (5,928 | ) | | (5,367 | ) | | |\n| 20 | Maturities of short-term investments | 3,613 | | | 3,623 | | | 2,924 | | | |\n| 21 | Sales of short-term investments | 2,496 | | | 2,423 | | | 2,386 | | | |\n| 22 | Investments in reverse repurchase agreements | - | | | - | | | 150 | | | |\n| 23 | Additions to property, plant and equipment | (1,028 | ) | | (1,105 | ) | | (1,143 | ) | | |\n| 24 | Disposals of property, plant and equipment | 3 | | | 13 | | | 10 | | | |\n| 25 | Other investing activities | (25 | ) | | (34 | ) | | 6 | | | |\n| 26 | Cash provided (used) by investing activities | 276 | | | (1,008 | ) | | (1,034 | ) | | |\n| 27 | Cash used by financing activities: | | | | | | | | | | |\n| 28 | Net proceeds from long-term debt issuance | - | | | 1,482 | | | 981 | | | |\n| 29 | Long-term debt payments, including current portion | (6 | ) | | (44 | ) | | (106 | ) | | |\n| 30 | Increase (decrease) in notes payable | 13 | | | 327 | | | (67 | ) | | |\n| 31 | Payments on capital lease and other financing obligations | (23 | ) | | (17 | ) | | (7 | ) | | |\n| 32 | Proceeds from exercise of stock options and other stock issuances | 733 | | | 489 | | | 507 | | | |\n| 33 | Repurchase of common stock | (4,254 | ) | | (3,223 | ) | | (3,238 | ) | | |\n| 34 | Dividends - common and preferred | (1,243 | ) | | (1,133 | ) | | (1,022 | ) | | |\n| 35 | Tax payments for net share settlement of equity awards | (55 | ) | | (29 | ) | | (22 | ) | | |\n| 36 | Cash used by financing activities | (4,835 | ) | | (2,148 | ) | | (2,974 | ) | | |\n| 37 | Effect of exchange rate changes on cash and equivalents | 45 | | | (20 | ) | | (105 | ) | | |\n| 38 | Net increase (decrease) in cash and equivalents | 441 | | | 670 | | | (714 | ) | | |\n| 39 | Cash and equivalents, beginning of year | 3,808 | | | 3,138 | | | 3,852 | | | |\n| 40 | CASH AND EQUIVALENTS, END OF YEAR | $ | 4,249 | | | $ | 3,808 | | | $ | 3,138 |\n| 41 | Supplemental disclosure of cash flow information: | | | | | | | | | | |\n| 42 | Cash paid during the year for: | | | | | | | | | | |\n| 43 | Interest, net of capitalized interest | $ | 125 | | | $ | 98 | | | $ | 70 |\n| 44 | Income taxes | 529 | | | 703 | | | 748 | | | |\n| 45 | Non-cash additions to property, plant and equipment | 294 | | | 266 | | | 252 | | | |\n| 46 | Dividends declared and not paid | 320 | | | 300 | | | 271 | | | |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 47: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Cash Flows<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net income<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
Adjustments to reconcile net income to net cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Depreciation<\/td> <\/td>747<\/td><\/td> <\/td>706<\/td><\/td> <\/td>649<\/td><\/td><\/tr>
Deferred income taxes<\/td> <\/td>647<\/td><\/td> <\/td>(273<\/td>)<\/td> <\/td>(80<\/td>)<\/td><\/tr>
Stock-based compensation<\/td> <\/td>218<\/td><\/td> <\/td>215<\/td><\/td> <\/td>236<\/td><\/td><\/tr>
Amortization and other<\/td> <\/td>27<\/td><\/td> <\/td>10<\/td><\/td> <\/td>13<\/td><\/td><\/tr>
Net foreign currency adjustments<\/td> <\/td>(99<\/td>)<\/td> <\/td>(117<\/td>)<\/td> <\/td>98<\/td><\/td><\/tr>
Changes in certain working capital components and other assets and liabilities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Decrease (increase) in accounts receivable<\/td> <\/td>187<\/td><\/td> <\/td>(426<\/td>)<\/td> <\/td>60<\/td><\/td><\/tr>
(Increase) in inventories<\/td> <\/td>(255<\/td>)<\/td> <\/td>(231<\/td>)<\/td> <\/td>(590<\/td>)<\/td><\/tr>
Decrease (increase) in prepaid expenses and other current and non-current assets<\/td> <\/td>35<\/td><\/td> <\/td>(120<\/td>)<\/td> <\/td>(161<\/td>)<\/td><\/tr>
Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities<\/td> <\/td>1,515<\/td><\/td> <\/td>(158<\/td>)<\/td> <\/td>(586<\/td>)<\/td><\/tr>
Cash provided by operations<\/td> <\/td>4,955<\/td><\/td> <\/td>3,846<\/td><\/td> <\/td>3,399<\/td><\/td><\/tr>
Cash provided (used) by investing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Purchases of short-term investments<\/td> <\/td>(4,783<\/td>)<\/td> <\/td>(5,928<\/td>)<\/td> <\/td>(5,367<\/td>)<\/td><\/tr>
Maturities of short-term investments<\/td> <\/td>3,613<\/td><\/td> <\/td>3,623<\/td><\/td> <\/td>2,924<\/td><\/td><\/tr>
Sales of short-term investments<\/td> <\/td>2,496<\/td><\/td> <\/td>2,423<\/td><\/td> <\/td>2,386<\/td><\/td><\/tr>
Investments in reverse repurchase agreements<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>150<\/td><\/td><\/tr>
Additions to property, plant and equipment<\/td> <\/td>(1,028<\/td>)<\/td> <\/td>(1,105<\/td>)<\/td> <\/td>(1,143<\/td>)<\/td><\/tr>
Disposals of property, plant and equipment<\/td> <\/td>3<\/td><\/td> <\/td>13<\/td><\/td> <\/td>10<\/td><\/td><\/tr>
Other investing activities<\/td> <\/td>(25<\/td>)<\/td> <\/td>(34<\/td>)<\/td> <\/td>6<\/td><\/td><\/tr>
Cash provided (used) by investing activities<\/td> <\/td>276<\/td><\/td> <\/td>(1,008<\/td>)<\/td> <\/td>(1,034<\/td>)<\/td><\/tr>
Cash used by financing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net proceeds from long-term debt issuance<\/td> <\/td>-<\/td><\/td> <\/td>1,482<\/td><\/td> <\/td>981<\/td><\/td><\/tr>
Long-term debt payments, including current portion<\/td> <\/td>(6<\/td>)<\/td> <\/td>(44<\/td>)<\/td> <\/td>(106<\/td>)<\/td><\/tr>
Increase (decrease) in notes payable<\/td> <\/td>13<\/td><\/td> <\/td>327<\/td><\/td> <\/td>(67<\/td>)<\/td><\/tr>
Payments on capital lease and other financing obligations<\/td> <\/td>(23<\/td>)<\/td> <\/td>(17<\/td>)<\/td> <\/td>(7<\/td>)<\/td><\/tr>
Proceeds from exercise of stock options and other stock issuances<\/td> <\/td>733<\/td><\/td> <\/td>489<\/td><\/td> <\/td>507<\/td><\/td><\/tr>
Repurchase of common stock<\/td> <\/td>(4,254<\/td>)<\/td> <\/td>(3,223<\/td>)<\/td> <\/td>(3,238<\/td>)<\/td><\/tr>
Dividends - common and preferred<\/td> <\/td>(1,243<\/td>)<\/td> <\/td>(1,133<\/td>)<\/td> <\/td>(1,022<\/td>)<\/td><\/tr>
Tax payments for net share settlement of equity awards<\/td> <\/td>(55<\/td>)<\/td> <\/td>(29<\/td>)<\/td> <\/td>(22<\/td>)<\/td><\/tr>
Cash used by financing activities<\/td> <\/td>(4,835<\/td>)<\/td> <\/td>(2,148<\/td>)<\/td> <\/td>(2,974<\/td>)<\/td><\/tr>
Effect of exchange rate changes on cash and equivalents<\/td> <\/td>45<\/td><\/td> <\/td>(20<\/td>)<\/td> <\/td>(105<\/td>)<\/td><\/tr>
Net increase (decrease) in cash and equivalents<\/td> <\/td>441<\/td><\/td> <\/td>670<\/td><\/td> <\/td>(714<\/td>)<\/td><\/tr>
Cash and equivalents, beginning of year<\/td> <\/td>3,808<\/td><\/td> <\/td>3,138<\/td><\/td> <\/td>3,852<\/td><\/td><\/tr>
CASH AND EQUIVALENTS, END OF YEAR<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td> <\/td>$<\/td>3,138<\/td><\/td><\/tr>
Supplemental disclosure of cash flow information:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash paid during the year for:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Interest, net of capitalized interest<\/td> <\/td>$<\/td>125<\/td><\/td> <\/td>$<\/td>98<\/td><\/td> <\/td>$<\/td>70<\/td><\/td><\/tr>
Income taxes<\/td> <\/td>529<\/td><\/td> <\/td>703<\/td><\/td> <\/td>748<\/td><\/td><\/tr>
Non-cash additions to property, plant and equipment<\/td> <\/td>294<\/td><\/td> <\/td>266<\/td><\/td> <\/td>252<\/td><\/td><\/tr>
Dividends declared and not paid<\/td> <\/td>320<\/td><\/td> <\/td>300<\/td><\/td> <\/td>271<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Cash Flows<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net income<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
Adjustments to reconcile net income to net cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Depreciation<\/td> <\/td>747<\/td><\/td> <\/td>706<\/td><\/td> <\/td>649<\/td><\/td><\/tr>
Deferred income taxes<\/td> <\/td>647<\/td><\/td> <\/td>(273<\/td>)<\/td> <\/td>(80<\/td>)<\/td><\/tr>
Stock-based compensation<\/td> <\/td>218<\/td><\/td> <\/td>215<\/td><\/td> <\/td>236<\/td><\/td><\/tr>
Amortization and other<\/td> <\/td>27<\/td><\/td> <\/td>10<\/td><\/td> <\/td>13<\/td><\/td><\/tr>
Net foreign currency adjustments<\/td> <\/td>(99<\/td>)<\/td> <\/td>(117<\/td>)<\/td> <\/td>98<\/td><\/td><\/tr>
Changes in certain working capital components and other assets and liabilities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Decrease (increase) in accounts receivable<\/td> <\/td>187<\/td><\/td> <\/td>(426<\/td>)<\/td> <\/td>60<\/td><\/td><\/tr>
(Increase) in inventories<\/td> <\/td>(255<\/td>)<\/td> <\/td>(231<\/td>)<\/td> <\/td>(590<\/td>)<\/td><\/tr>
Decrease (increase) in prepaid expenses and other current and non-current assets<\/td> <\/td>35<\/td><\/td> <\/td>(120<\/td>)<\/td> <\/td>(161<\/td>)<\/td><\/tr>
Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities<\/td> <\/td>1,515<\/td><\/td> <\/td>(158<\/td>)<\/td> <\/td>(586<\/td>)<\/td><\/tr>
Cash provided by operations<\/td> <\/td>4,955<\/td><\/td> <\/td>3,846<\/td><\/td> <\/td>3,399<\/td><\/td><\/tr>
Cash provided (used) by investing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Purchases of short-term investments<\/td> <\/td>(4,783<\/td>)<\/td> <\/td>(5,928<\/td>)<\/td> <\/td>(5,367<\/td>)<\/td><\/tr>
Maturities of short-term investments<\/td> <\/td>3,613<\/td><\/td> <\/td>3,623<\/td><\/td> <\/td>2,924<\/td><\/td><\/tr>
Sales of short-term investments<\/td> <\/td>2,496<\/td><\/td> <\/td>2,423<\/td><\/td> <\/td>2,386<\/td><\/td><\/tr>
Investments in reverse repurchase agreements<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>150<\/td><\/td><\/tr>
Additions to property, plant and equipment<\/td> <\/td>(1,028<\/td>)<\/td> <\/td>(1,105<\/td>)<\/td> <\/td>(1,143<\/td>)<\/td><\/tr>
Disposals of property, plant and equipment<\/td> <\/td>3<\/td><\/td> <\/td>13<\/td><\/td> <\/td>10<\/td><\/td><\/tr>
Other investing activities<\/td> <\/td>(25<\/td>)<\/td> <\/td>(34<\/td>)<\/td> <\/td>6<\/td><\/td><\/tr>
Cash provided (used) by investing activities<\/td> <\/td>276<\/td><\/td> <\/td>(1,008<\/td>)<\/td> <\/td>(1,034<\/td>)<\/td><\/tr>
Cash used by financing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net proceeds from long-term debt issuance<\/td> <\/td>-<\/td><\/td> <\/td>1,482<\/td><\/td> <\/td>981<\/td><\/td><\/tr>
Long-term debt payments, including current portion<\/td> <\/td>(6<\/td>)<\/td> <\/td>(44<\/td>)<\/td> <\/td>(106<\/td>)<\/td><\/tr>
Increase (decrease) in notes payable<\/td> <\/td>13<\/td><\/td> <\/td>327<\/td><\/td> <\/td>(67<\/td>)<\/td><\/tr>
Payments on capital lease and other financing obligations<\/td> <\/td>(23<\/td>)<\/td> <\/td>(17<\/td>)<\/td> <\/td>(7<\/td>)<\/td><\/tr>
Proceeds from exercise of stock options and other stock issuances<\/td> <\/td>733<\/td><\/td> <\/td>489<\/td><\/td> <\/td>507<\/td><\/td><\/tr>
Repurchase of common stock<\/td> <\/td>(4,254<\/td>)<\/td> <\/td>(3,223<\/td>)<\/td> <\/td>(3,238<\/td>)<\/td><\/tr>
Dividends - common and preferred<\/td> <\/td>(1,243<\/td>)<\/td> <\/td>(1,133<\/td>)<\/td> <\/td>(1,022<\/td>)<\/td><\/tr>
Tax payments for net share settlement of equity awards<\/td> <\/td>(55<\/td>)<\/td> <\/td>(29<\/td>)<\/td> <\/td>(22<\/td>)<\/td><\/tr>
Cash used by financing activities<\/td> <\/td>(4,835<\/td>)<\/td> <\/td>(2,148<\/td>)<\/td> <\/td>(2,974<\/td>)<\/td><\/tr>
Effect of exchange rate changes on cash and equivalents<\/td> <\/td>45<\/td><\/td> <\/td>(20<\/td>)<\/td> <\/td>(105<\/td>)<\/td><\/tr>
Net increase (decrease) in cash and equivalents<\/td> <\/td>441<\/td><\/td> <\/td>670<\/td><\/td> <\/td>(714<\/td>)<\/td><\/tr>
Cash and equivalents, beginning of year<\/td> <\/td>3,808<\/td><\/td> <\/td>3,138<\/td><\/td> <\/td>3,852<\/td><\/td><\/tr>
CASH AND EQUIVALENTS, END OF YEAR<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td> <\/td>$<\/td>3,138<\/td><\/td><\/tr>
Supplemental disclosure of cash flow information:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash paid during the year for:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Interest, net of capitalized interest<\/td> <\/td>$<\/td>125<\/td><\/td> <\/td>$<\/td>98<\/td><\/td> <\/td>$<\/td>70<\/td><\/td><\/tr>
Income taxes<\/td> <\/td>529<\/td><\/td> <\/td>703<\/td><\/td> <\/td>748<\/td><\/td><\/tr>
Non-cash additions to property, plant and equipment<\/td> <\/td>294<\/td><\/td> <\/td>266<\/td><\/td> <\/td>252<\/td><\/td><\/tr>
Dividends declared and not paid<\/td> <\/td>320<\/td><\/td> <\/td>300<\/td><\/td> <\/td>271<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n"} +{"QID":"q_Ra186","Question":"What is the percentage change in depreciation expense from 2017 to 2018?","ground_truth_answer":"Depreciation Expense 2018: $747 million\nDepreciation Expense 2017: $706 million\n\nFormula:\nPercentage Change in Depreciation = ((Depreciation 2018 - Depreciation 2017) \/ Depreciation 2017) \u00d7 100\n\nCalculation:\nPercentage Change = ((747 - 706) \/ 706) \u00d7 100\nPercentage Change = (41 \/ 706) \u00d7 100 \u2248 5.81%\n\nAnswer: Depreciation expense increased by approximately 5.81% from 2017 to 2018.","question_type":"Ratio","page_number":47,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 47: \n| | |\n|---:|:-------------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Cash Flows |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------------------------------------|:-------------------|:------|:-----|:-------|:-----|:------|:-------|:---|:---|:------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Cash provided by operations: | | | | | | | | | | |\n| 5 | Net income | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 6 | Adjustments to reconcile net income to net cash provided by operations: | | | | | | | | | | |\n| 7 | Depreciation | 747 | | | 706 | | | 649 | | | |\n| 8 | Deferred income taxes | 647 | | | (273 | ) | | (80 | ) | | |\n| 9 | Stock-based compensation | 218 | | | 215 | | | 236 | | | |\n| 10 | Amortization and other | 27 | | | 10 | | | 13 | | | |\n| 11 | Net foreign currency adjustments | (99 | ) | | (117 | ) | | 98 | | | |\n| 12 | Changes in certain working capital components and other assets and liabilities: | | | | | | | | | | |\n| 13 | Decrease (increase) in accounts receivable | 187 | | | (426 | ) | | 60 | | | |\n| 14 | (Increase) in inventories | (255 | ) | | (231 | ) | | (590 | ) | | |\n| 15 | Decrease (increase) in prepaid expenses and other current and non-current assets | 35 | | | (120 | ) | | (161 | ) | | |\n| 16 | Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities | 1,515 | | | (158 | ) | | (586 | ) | | |\n| 17 | Cash provided by operations | 4,955 | | | 3,846 | | | 3,399 | | | |\n| 18 | Cash provided (used) by investing activities: | | | | | | | | | | |\n| 19 | Purchases of short-term investments | (4,783 | ) | | (5,928 | ) | | (5,367 | ) | | |\n| 20 | Maturities of short-term investments | 3,613 | | | 3,623 | | | 2,924 | | | |\n| 21 | Sales of short-term investments | 2,496 | | | 2,423 | | | 2,386 | | | |\n| 22 | Investments in reverse repurchase agreements | - | | | - | | | 150 | | | |\n| 23 | Additions to property, plant and equipment | (1,028 | ) | | (1,105 | ) | | (1,143 | ) | | |\n| 24 | Disposals of property, plant and equipment | 3 | | | 13 | | | 10 | | | |\n| 25 | Other investing activities | (25 | ) | | (34 | ) | | 6 | | | |\n| 26 | Cash provided (used) by investing activities | 276 | | | (1,008 | ) | | (1,034 | ) | | |\n| 27 | Cash used by financing activities: | | | | | | | | | | |\n| 28 | Net proceeds from long-term debt issuance | - | | | 1,482 | | | 981 | | | |\n| 29 | Long-term debt payments, including current portion | (6 | ) | | (44 | ) | | (106 | ) | | |\n| 30 | Increase (decrease) in notes payable | 13 | | | 327 | | | (67 | ) | | |\n| 31 | Payments on capital lease and other financing obligations | (23 | ) | | (17 | ) | | (7 | ) | | |\n| 32 | Proceeds from exercise of stock options and other stock issuances | 733 | | | 489 | | | 507 | | | |\n| 33 | Repurchase of common stock | (4,254 | ) | | (3,223 | ) | | (3,238 | ) | | |\n| 34 | Dividends - common and preferred | (1,243 | ) | | (1,133 | ) | | (1,022 | ) | | |\n| 35 | Tax payments for net share settlement of equity awards | (55 | ) | | (29 | ) | | (22 | ) | | |\n| 36 | Cash used by financing activities | (4,835 | ) | | (2,148 | ) | | (2,974 | ) | | |\n| 37 | Effect of exchange rate changes on cash and equivalents | 45 | | | (20 | ) | | (105 | ) | | |\n| 38 | Net increase (decrease) in cash and equivalents | 441 | | | 670 | | | (714 | ) | | |\n| 39 | Cash and equivalents, beginning of year | 3,808 | | | 3,138 | | | 3,852 | | | |\n| 40 | CASH AND EQUIVALENTS, END OF YEAR | $ | 4,249 | | | $ | 3,808 | | | $ | 3,138 |\n| 41 | Supplemental disclosure of cash flow information: | | | | | | | | | | |\n| 42 | Cash paid during the year for: | | | | | | | | | | |\n| 43 | Interest, net of capitalized interest | $ | 125 | | | $ | 98 | | | $ | 70 |\n| 44 | Income taxes | 529 | | | 703 | | | 748 | | | |\n| 45 | Non-cash additions to property, plant and equipment | 294 | | | 266 | | | 252 | | | |\n| 46 | Dividends declared and not paid | 320 | | | 300 | | | 271 | | | |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:-------------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Cash Flows |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------------------------------------|:-------------------|:------|:-----|:-------|:-----|:------|:-------|:---|:---|:------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Cash provided by operations: | | | | | | | | | | |\n| 5 | Net income | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 6 | Adjustments to reconcile net income to net cash provided by operations: | | | | | | | | | | |\n| 7 | Depreciation | 747 | | | 706 | | | 649 | | | |\n| 8 | Deferred income taxes | 647 | | | (273 | ) | | (80 | ) | | |\n| 9 | Stock-based compensation | 218 | | | 215 | | | 236 | | | |\n| 10 | Amortization and other | 27 | | | 10 | | | 13 | | | |\n| 11 | Net foreign currency adjustments | (99 | ) | | (117 | ) | | 98 | | | |\n| 12 | Changes in certain working capital components and other assets and liabilities: | | | | | | | | | | |\n| 13 | Decrease (increase) in accounts receivable | 187 | | | (426 | ) | | 60 | | | |\n| 14 | (Increase) in inventories | (255 | ) | | (231 | ) | | (590 | ) | | |\n| 15 | Decrease (increase) in prepaid expenses and other current and non-current assets | 35 | | | (120 | ) | | (161 | ) | | |\n| 16 | Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities | 1,515 | | | (158 | ) | | (586 | ) | | |\n| 17 | Cash provided by operations | 4,955 | | | 3,846 | | | 3,399 | | | |\n| 18 | Cash provided (used) by investing activities: | | | | | | | | | | |\n| 19 | Purchases of short-term investments | (4,783 | ) | | (5,928 | ) | | (5,367 | ) | | |\n| 20 | Maturities of short-term investments | 3,613 | | | 3,623 | | | 2,924 | | | |\n| 21 | Sales of short-term investments | 2,496 | | | 2,423 | | | 2,386 | | | |\n| 22 | Investments in reverse repurchase agreements | - | | | - | | | 150 | | | |\n| 23 | Additions to property, plant and equipment | (1,028 | ) | | (1,105 | ) | | (1,143 | ) | | |\n| 24 | Disposals of property, plant and equipment | 3 | | | 13 | | | 10 | | | |\n| 25 | Other investing activities | (25 | ) | | (34 | ) | | 6 | | | |\n| 26 | Cash provided (used) by investing activities | 276 | | | (1,008 | ) | | (1,034 | ) | | |\n| 27 | Cash used by financing activities: | | | | | | | | | | |\n| 28 | Net proceeds from long-term debt issuance | - | | | 1,482 | | | 981 | | | |\n| 29 | Long-term debt payments, including current portion | (6 | ) | | (44 | ) | | (106 | ) | | |\n| 30 | Increase (decrease) in notes payable | 13 | | | 327 | | | (67 | ) | | |\n| 31 | Payments on capital lease and other financing obligations | (23 | ) | | (17 | ) | | (7 | ) | | |\n| 32 | Proceeds from exercise of stock options and other stock issuances | 733 | | | 489 | | | 507 | | | |\n| 33 | Repurchase of common stock | (4,254 | ) | | (3,223 | ) | | (3,238 | ) | | |\n| 34 | Dividends - common and preferred | (1,243 | ) | | (1,133 | ) | | (1,022 | ) | | |\n| 35 | Tax payments for net share settlement of equity awards | (55 | ) | | (29 | ) | | (22 | ) | | |\n| 36 | Cash used by financing activities | (4,835 | ) | | (2,148 | ) | | (2,974 | ) | | |\n| 37 | Effect of exchange rate changes on cash and equivalents | 45 | | | (20 | ) | | (105 | ) | | |\n| 38 | Net increase (decrease) in cash and equivalents | 441 | | | 670 | | | (714 | ) | | |\n| 39 | Cash and equivalents, beginning of year | 3,808 | | | 3,138 | | | 3,852 | | | |\n| 40 | CASH AND EQUIVALENTS, END OF YEAR | $ | 4,249 | | | $ | 3,808 | | | $ | 3,138 |\n| 41 | Supplemental disclosure of cash flow information: | | | | | | | | | | |\n| 42 | Cash paid during the year for: | | | | | | | | | | |\n| 43 | Interest, net of capitalized interest | $ | 125 | | | $ | 98 | | | $ | 70 |\n| 44 | Income taxes | 529 | | | 703 | | | 748 | | | |\n| 45 | Non-cash additions to property, plant and equipment | 294 | | | 266 | | | 252 | | | |\n| 46 | Dividends declared and not paid | 320 | | | 300 | | | 271 | | | |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 47: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Cash Flows<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net income<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
Adjustments to reconcile net income to net cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Depreciation<\/td> <\/td>747<\/td><\/td> <\/td>706<\/td><\/td> <\/td>649<\/td><\/td><\/tr>
Deferred income taxes<\/td> <\/td>647<\/td><\/td> <\/td>(273<\/td>)<\/td> <\/td>(80<\/td>)<\/td><\/tr>
Stock-based compensation<\/td> <\/td>218<\/td><\/td> <\/td>215<\/td><\/td> <\/td>236<\/td><\/td><\/tr>
Amortization and other<\/td> <\/td>27<\/td><\/td> <\/td>10<\/td><\/td> <\/td>13<\/td><\/td><\/tr>
Net foreign currency adjustments<\/td> <\/td>(99<\/td>)<\/td> <\/td>(117<\/td>)<\/td> <\/td>98<\/td><\/td><\/tr>
Changes in certain working capital components and other assets and liabilities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Decrease (increase) in accounts receivable<\/td> <\/td>187<\/td><\/td> <\/td>(426<\/td>)<\/td> <\/td>60<\/td><\/td><\/tr>
(Increase) in inventories<\/td> <\/td>(255<\/td>)<\/td> <\/td>(231<\/td>)<\/td> <\/td>(590<\/td>)<\/td><\/tr>
Decrease (increase) in prepaid expenses and other current and non-current assets<\/td> <\/td>35<\/td><\/td> <\/td>(120<\/td>)<\/td> <\/td>(161<\/td>)<\/td><\/tr>
Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities<\/td> <\/td>1,515<\/td><\/td> <\/td>(158<\/td>)<\/td> <\/td>(586<\/td>)<\/td><\/tr>
Cash provided by operations<\/td> <\/td>4,955<\/td><\/td> <\/td>3,846<\/td><\/td> <\/td>3,399<\/td><\/td><\/tr>
Cash provided (used) by investing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Purchases of short-term investments<\/td> <\/td>(4,783<\/td>)<\/td> <\/td>(5,928<\/td>)<\/td> <\/td>(5,367<\/td>)<\/td><\/tr>
Maturities of short-term investments<\/td> <\/td>3,613<\/td><\/td> <\/td>3,623<\/td><\/td> <\/td>2,924<\/td><\/td><\/tr>
Sales of short-term investments<\/td> <\/td>2,496<\/td><\/td> <\/td>2,423<\/td><\/td> <\/td>2,386<\/td><\/td><\/tr>
Investments in reverse repurchase agreements<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>150<\/td><\/td><\/tr>
Additions to property, plant and equipment<\/td> <\/td>(1,028<\/td>)<\/td> <\/td>(1,105<\/td>)<\/td> <\/td>(1,143<\/td>)<\/td><\/tr>
Disposals of property, plant and equipment<\/td> <\/td>3<\/td><\/td> <\/td>13<\/td><\/td> <\/td>10<\/td><\/td><\/tr>
Other investing activities<\/td> <\/td>(25<\/td>)<\/td> <\/td>(34<\/td>)<\/td> <\/td>6<\/td><\/td><\/tr>
Cash provided (used) by investing activities<\/td> <\/td>276<\/td><\/td> <\/td>(1,008<\/td>)<\/td> <\/td>(1,034<\/td>)<\/td><\/tr>
Cash used by financing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net proceeds from long-term debt issuance<\/td> <\/td>-<\/td><\/td> <\/td>1,482<\/td><\/td> <\/td>981<\/td><\/td><\/tr>
Long-term debt payments, including current portion<\/td> <\/td>(6<\/td>)<\/td> <\/td>(44<\/td>)<\/td> <\/td>(106<\/td>)<\/td><\/tr>
Increase (decrease) in notes payable<\/td> <\/td>13<\/td><\/td> <\/td>327<\/td><\/td> <\/td>(67<\/td>)<\/td><\/tr>
Payments on capital lease and other financing obligations<\/td> <\/td>(23<\/td>)<\/td> <\/td>(17<\/td>)<\/td> <\/td>(7<\/td>)<\/td><\/tr>
Proceeds from exercise of stock options and other stock issuances<\/td> <\/td>733<\/td><\/td> <\/td>489<\/td><\/td> <\/td>507<\/td><\/td><\/tr>
Repurchase of common stock<\/td> <\/td>(4,254<\/td>)<\/td> <\/td>(3,223<\/td>)<\/td> <\/td>(3,238<\/td>)<\/td><\/tr>
Dividends - common and preferred<\/td> <\/td>(1,243<\/td>)<\/td> <\/td>(1,133<\/td>)<\/td> <\/td>(1,022<\/td>)<\/td><\/tr>
Tax payments for net share settlement of equity awards<\/td> <\/td>(55<\/td>)<\/td> <\/td>(29<\/td>)<\/td> <\/td>(22<\/td>)<\/td><\/tr>
Cash used by financing activities<\/td> <\/td>(4,835<\/td>)<\/td> <\/td>(2,148<\/td>)<\/td> <\/td>(2,974<\/td>)<\/td><\/tr>
Effect of exchange rate changes on cash and equivalents<\/td> <\/td>45<\/td><\/td> <\/td>(20<\/td>)<\/td> <\/td>(105<\/td>)<\/td><\/tr>
Net increase (decrease) in cash and equivalents<\/td> <\/td>441<\/td><\/td> <\/td>670<\/td><\/td> <\/td>(714<\/td>)<\/td><\/tr>
Cash and equivalents, beginning of year<\/td> <\/td>3,808<\/td><\/td> <\/td>3,138<\/td><\/td> <\/td>3,852<\/td><\/td><\/tr>
CASH AND EQUIVALENTS, END OF YEAR<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td> <\/td>$<\/td>3,138<\/td><\/td><\/tr>
Supplemental disclosure of cash flow information:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash paid during the year for:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Interest, net of capitalized interest<\/td> <\/td>$<\/td>125<\/td><\/td> <\/td>$<\/td>98<\/td><\/td> <\/td>$<\/td>70<\/td><\/td><\/tr>
Income taxes<\/td> <\/td>529<\/td><\/td> <\/td>703<\/td><\/td> <\/td>748<\/td><\/td><\/tr>
Non-cash additions to property, plant and equipment<\/td> <\/td>294<\/td><\/td> <\/td>266<\/td><\/td> <\/td>252<\/td><\/td><\/tr>
Dividends declared and not paid<\/td> <\/td>320<\/td><\/td> <\/td>300<\/td><\/td> <\/td>271<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Cash Flows<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net income<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
Adjustments to reconcile net income to net cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Depreciation<\/td> <\/td>747<\/td><\/td> <\/td>706<\/td><\/td> <\/td>649<\/td><\/td><\/tr>
Deferred income taxes<\/td> <\/td>647<\/td><\/td> <\/td>(273<\/td>)<\/td> <\/td>(80<\/td>)<\/td><\/tr>
Stock-based compensation<\/td> <\/td>218<\/td><\/td> <\/td>215<\/td><\/td> <\/td>236<\/td><\/td><\/tr>
Amortization and other<\/td> <\/td>27<\/td><\/td> <\/td>10<\/td><\/td> <\/td>13<\/td><\/td><\/tr>
Net foreign currency adjustments<\/td> <\/td>(99<\/td>)<\/td> <\/td>(117<\/td>)<\/td> <\/td>98<\/td><\/td><\/tr>
Changes in certain working capital components and other assets and liabilities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Decrease (increase) in accounts receivable<\/td> <\/td>187<\/td><\/td> <\/td>(426<\/td>)<\/td> <\/td>60<\/td><\/td><\/tr>
(Increase) in inventories<\/td> <\/td>(255<\/td>)<\/td> <\/td>(231<\/td>)<\/td> <\/td>(590<\/td>)<\/td><\/tr>
Decrease (increase) in prepaid expenses and other current and non-current assets<\/td> <\/td>35<\/td><\/td> <\/td>(120<\/td>)<\/td> <\/td>(161<\/td>)<\/td><\/tr>
Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities<\/td> <\/td>1,515<\/td><\/td> <\/td>(158<\/td>)<\/td> <\/td>(586<\/td>)<\/td><\/tr>
Cash provided by operations<\/td> <\/td>4,955<\/td><\/td> <\/td>3,846<\/td><\/td> <\/td>3,399<\/td><\/td><\/tr>
Cash provided (used) by investing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Purchases of short-term investments<\/td> <\/td>(4,783<\/td>)<\/td> <\/td>(5,928<\/td>)<\/td> <\/td>(5,367<\/td>)<\/td><\/tr>
Maturities of short-term investments<\/td> <\/td>3,613<\/td><\/td> <\/td>3,623<\/td><\/td> <\/td>2,924<\/td><\/td><\/tr>
Sales of short-term investments<\/td> <\/td>2,496<\/td><\/td> <\/td>2,423<\/td><\/td> <\/td>2,386<\/td><\/td><\/tr>
Investments in reverse repurchase agreements<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>150<\/td><\/td><\/tr>
Additions to property, plant and equipment<\/td> <\/td>(1,028<\/td>)<\/td> <\/td>(1,105<\/td>)<\/td> <\/td>(1,143<\/td>)<\/td><\/tr>
Disposals of property, plant and equipment<\/td> <\/td>3<\/td><\/td> <\/td>13<\/td><\/td> <\/td>10<\/td><\/td><\/tr>
Other investing activities<\/td> <\/td>(25<\/td>)<\/td> <\/td>(34<\/td>)<\/td> <\/td>6<\/td><\/td><\/tr>
Cash provided (used) by investing activities<\/td> <\/td>276<\/td><\/td> <\/td>(1,008<\/td>)<\/td> <\/td>(1,034<\/td>)<\/td><\/tr>
Cash used by financing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net proceeds from long-term debt issuance<\/td> <\/td>-<\/td><\/td> <\/td>1,482<\/td><\/td> <\/td>981<\/td><\/td><\/tr>
Long-term debt payments, including current portion<\/td> <\/td>(6<\/td>)<\/td> <\/td>(44<\/td>)<\/td> <\/td>(106<\/td>)<\/td><\/tr>
Increase (decrease) in notes payable<\/td> <\/td>13<\/td><\/td> <\/td>327<\/td><\/td> <\/td>(67<\/td>)<\/td><\/tr>
Payments on capital lease and other financing obligations<\/td> <\/td>(23<\/td>)<\/td> <\/td>(17<\/td>)<\/td> <\/td>(7<\/td>)<\/td><\/tr>
Proceeds from exercise of stock options and other stock issuances<\/td> <\/td>733<\/td><\/td> <\/td>489<\/td><\/td> <\/td>507<\/td><\/td><\/tr>
Repurchase of common stock<\/td> <\/td>(4,254<\/td>)<\/td> <\/td>(3,223<\/td>)<\/td> <\/td>(3,238<\/td>)<\/td><\/tr>
Dividends - common and preferred<\/td> <\/td>(1,243<\/td>)<\/td> <\/td>(1,133<\/td>)<\/td> <\/td>(1,022<\/td>)<\/td><\/tr>
Tax payments for net share settlement of equity awards<\/td> <\/td>(55<\/td>)<\/td> <\/td>(29<\/td>)<\/td> <\/td>(22<\/td>)<\/td><\/tr>
Cash used by financing activities<\/td> <\/td>(4,835<\/td>)<\/td> <\/td>(2,148<\/td>)<\/td> <\/td>(2,974<\/td>)<\/td><\/tr>
Effect of exchange rate changes on cash and equivalents<\/td> <\/td>45<\/td><\/td> <\/td>(20<\/td>)<\/td> <\/td>(105<\/td>)<\/td><\/tr>
Net increase (decrease) in cash and equivalents<\/td> <\/td>441<\/td><\/td> <\/td>670<\/td><\/td> <\/td>(714<\/td>)<\/td><\/tr>
Cash and equivalents, beginning of year<\/td> <\/td>3,808<\/td><\/td> <\/td>3,138<\/td><\/td> <\/td>3,852<\/td><\/td><\/tr>
CASH AND EQUIVALENTS, END OF YEAR<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td> <\/td>$<\/td>3,138<\/td><\/td><\/tr>
Supplemental disclosure of cash flow information:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash paid during the year for:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Interest, net of capitalized interest<\/td> <\/td>$<\/td>125<\/td><\/td> <\/td>$<\/td>98<\/td><\/td> <\/td>$<\/td>70<\/td><\/td><\/tr>
Income taxes<\/td> <\/td>529<\/td><\/td> <\/td>703<\/td><\/td> <\/td>748<\/td><\/td><\/tr>
Non-cash additions to property, plant and equipment<\/td> <\/td>294<\/td><\/td> <\/td>266<\/td><\/td> <\/td>252<\/td><\/td><\/tr>
Dividends declared and not paid<\/td> <\/td>320<\/td><\/td> <\/td>300<\/td><\/td> <\/td>271<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n"} +{"QID":"q_Ra187","Question":"How did stock-based compensation expense change from 2017 to 2018?","ground_truth_answer":"Stock-Based Compensation Expense 2018: $218 million\nStock-Based Compensation Expense 2017: $215 million\n\nFormula:\nPercentage Change in Stock-Based Compensation = ((Expense 2018 - Expense 2017) \/ Expense 2017) \u00d7 100\n\nCalculation:\nPercentage Change = ((218 - 215) \/ 215) \u00d7 100\nPercentage Change = (3 \/ 215) \u00d7 100 \u2248 1.40%\n\nAnswer:\nStock-based compensation expense increased by approximately 1.40% from 2017 to 2018. This slight increase suggests that Nike's equity compensation practices remained relatively consistent, with no significant changes to stock-based awards for employees during this period.","question_type":"Ratio","page_number":47,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 47: \n| | |\n|---:|:-------------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Cash Flows |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------------------------------------|:-------------------|:------|:-----|:-------|:-----|:------|:-------|:---|:---|:------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Cash provided by operations: | | | | | | | | | | |\n| 5 | Net income | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 6 | Adjustments to reconcile net income to net cash provided by operations: | | | | | | | | | | |\n| 7 | Depreciation | 747 | | | 706 | | | 649 | | | |\n| 8 | Deferred income taxes | 647 | | | (273 | ) | | (80 | ) | | |\n| 9 | Stock-based compensation | 218 | | | 215 | | | 236 | | | |\n| 10 | Amortization and other | 27 | | | 10 | | | 13 | | | |\n| 11 | Net foreign currency adjustments | (99 | ) | | (117 | ) | | 98 | | | |\n| 12 | Changes in certain working capital components and other assets and liabilities: | | | | | | | | | | |\n| 13 | Decrease (increase) in accounts receivable | 187 | | | (426 | ) | | 60 | | | |\n| 14 | (Increase) in inventories | (255 | ) | | (231 | ) | | (590 | ) | | |\n| 15 | Decrease (increase) in prepaid expenses and other current and non-current assets | 35 | | | (120 | ) | | (161 | ) | | |\n| 16 | Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities | 1,515 | | | (158 | ) | | (586 | ) | | |\n| 17 | Cash provided by operations | 4,955 | | | 3,846 | | | 3,399 | | | |\n| 18 | Cash provided (used) by investing activities: | | | | | | | | | | |\n| 19 | Purchases of short-term investments | (4,783 | ) | | (5,928 | ) | | (5,367 | ) | | |\n| 20 | Maturities of short-term investments | 3,613 | | | 3,623 | | | 2,924 | | | |\n| 21 | Sales of short-term investments | 2,496 | | | 2,423 | | | 2,386 | | | |\n| 22 | Investments in reverse repurchase agreements | - | | | - | | | 150 | | | |\n| 23 | Additions to property, plant and equipment | (1,028 | ) | | (1,105 | ) | | (1,143 | ) | | |\n| 24 | Disposals of property, plant and equipment | 3 | | | 13 | | | 10 | | | |\n| 25 | Other investing activities | (25 | ) | | (34 | ) | | 6 | | | |\n| 26 | Cash provided (used) by investing activities | 276 | | | (1,008 | ) | | (1,034 | ) | | |\n| 27 | Cash used by financing activities: | | | | | | | | | | |\n| 28 | Net proceeds from long-term debt issuance | - | | | 1,482 | | | 981 | | | |\n| 29 | Long-term debt payments, including current portion | (6 | ) | | (44 | ) | | (106 | ) | | |\n| 30 | Increase (decrease) in notes payable | 13 | | | 327 | | | (67 | ) | | |\n| 31 | Payments on capital lease and other financing obligations | (23 | ) | | (17 | ) | | (7 | ) | | |\n| 32 | Proceeds from exercise of stock options and other stock issuances | 733 | | | 489 | | | 507 | | | |\n| 33 | Repurchase of common stock | (4,254 | ) | | (3,223 | ) | | (3,238 | ) | | |\n| 34 | Dividends - common and preferred | (1,243 | ) | | (1,133 | ) | | (1,022 | ) | | |\n| 35 | Tax payments for net share settlement of equity awards | (55 | ) | | (29 | ) | | (22 | ) | | |\n| 36 | Cash used by financing activities | (4,835 | ) | | (2,148 | ) | | (2,974 | ) | | |\n| 37 | Effect of exchange rate changes on cash and equivalents | 45 | | | (20 | ) | | (105 | ) | | |\n| 38 | Net increase (decrease) in cash and equivalents | 441 | | | 670 | | | (714 | ) | | |\n| 39 | Cash and equivalents, beginning of year | 3,808 | | | 3,138 | | | 3,852 | | | |\n| 40 | CASH AND EQUIVALENTS, END OF YEAR | $ | 4,249 | | | $ | 3,808 | | | $ | 3,138 |\n| 41 | Supplemental disclosure of cash flow information: | | | | | | | | | | |\n| 42 | Cash paid during the year for: | | | | | | | | | | |\n| 43 | Interest, net of capitalized interest | $ | 125 | | | $ | 98 | | | $ | 70 |\n| 44 | Income taxes | 529 | | | 703 | | | 748 | | | |\n| 45 | Non-cash additions to property, plant and equipment | 294 | | | 266 | | | 252 | | | |\n| 46 | Dividends declared and not paid | 320 | | | 300 | | | 271 | | | |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:-------------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Cash Flows |\n\n\n| | | | | | | | | | | | |\n|---:|:-----------------------------------------------------------------------------------------------------------|:-------------------|:------|:-----|:-------|:-----|:------|:-------|:---|:---|:------|\n| 2 | | Year Ended May 31, | | | | | | | | | |\n| 3 | (In millions) | 2018 | | 2017 | | 2016 | | | | | |\n| 4 | Cash provided by operations: | | | | | | | | | | |\n| 5 | Net income | $ | 1,933 | | | $ | 4,240 | | | $ | 3,760 |\n| 6 | Adjustments to reconcile net income to net cash provided by operations: | | | | | | | | | | |\n| 7 | Depreciation | 747 | | | 706 | | | 649 | | | |\n| 8 | Deferred income taxes | 647 | | | (273 | ) | | (80 | ) | | |\n| 9 | Stock-based compensation | 218 | | | 215 | | | 236 | | | |\n| 10 | Amortization and other | 27 | | | 10 | | | 13 | | | |\n| 11 | Net foreign currency adjustments | (99 | ) | | (117 | ) | | 98 | | | |\n| 12 | Changes in certain working capital components and other assets and liabilities: | | | | | | | | | | |\n| 13 | Decrease (increase) in accounts receivable | 187 | | | (426 | ) | | 60 | | | |\n| 14 | (Increase) in inventories | (255 | ) | | (231 | ) | | (590 | ) | | |\n| 15 | Decrease (increase) in prepaid expenses and other current and non-current assets | 35 | | | (120 | ) | | (161 | ) | | |\n| 16 | Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities | 1,515 | | | (158 | ) | | (586 | ) | | |\n| 17 | Cash provided by operations | 4,955 | | | 3,846 | | | 3,399 | | | |\n| 18 | Cash provided (used) by investing activities: | | | | | | | | | | |\n| 19 | Purchases of short-term investments | (4,783 | ) | | (5,928 | ) | | (5,367 | ) | | |\n| 20 | Maturities of short-term investments | 3,613 | | | 3,623 | | | 2,924 | | | |\n| 21 | Sales of short-term investments | 2,496 | | | 2,423 | | | 2,386 | | | |\n| 22 | Investments in reverse repurchase agreements | - | | | - | | | 150 | | | |\n| 23 | Additions to property, plant and equipment | (1,028 | ) | | (1,105 | ) | | (1,143 | ) | | |\n| 24 | Disposals of property, plant and equipment | 3 | | | 13 | | | 10 | | | |\n| 25 | Other investing activities | (25 | ) | | (34 | ) | | 6 | | | |\n| 26 | Cash provided (used) by investing activities | 276 | | | (1,008 | ) | | (1,034 | ) | | |\n| 27 | Cash used by financing activities: | | | | | | | | | | |\n| 28 | Net proceeds from long-term debt issuance | - | | | 1,482 | | | 981 | | | |\n| 29 | Long-term debt payments, including current portion | (6 | ) | | (44 | ) | | (106 | ) | | |\n| 30 | Increase (decrease) in notes payable | 13 | | | 327 | | | (67 | ) | | |\n| 31 | Payments on capital lease and other financing obligations | (23 | ) | | (17 | ) | | (7 | ) | | |\n| 32 | Proceeds from exercise of stock options and other stock issuances | 733 | | | 489 | | | 507 | | | |\n| 33 | Repurchase of common stock | (4,254 | ) | | (3,223 | ) | | (3,238 | ) | | |\n| 34 | Dividends - common and preferred | (1,243 | ) | | (1,133 | ) | | (1,022 | ) | | |\n| 35 | Tax payments for net share settlement of equity awards | (55 | ) | | (29 | ) | | (22 | ) | | |\n| 36 | Cash used by financing activities | (4,835 | ) | | (2,148 | ) | | (2,974 | ) | | |\n| 37 | Effect of exchange rate changes on cash and equivalents | 45 | | | (20 | ) | | (105 | ) | | |\n| 38 | Net increase (decrease) in cash and equivalents | 441 | | | 670 | | | (714 | ) | | |\n| 39 | Cash and equivalents, beginning of year | 3,808 | | | 3,138 | | | 3,852 | | | |\n| 40 | CASH AND EQUIVALENTS, END OF YEAR | $ | 4,249 | | | $ | 3,808 | | | $ | 3,138 |\n| 41 | Supplemental disclosure of cash flow information: | | | | | | | | | | |\n| 42 | Cash paid during the year for: | | | | | | | | | | |\n| 43 | Interest, net of capitalized interest | $ | 125 | | | $ | 98 | | | $ | 70 |\n| 44 | Income taxes | 529 | | | 703 | | | 748 | | | |\n| 45 | Non-cash additions to property, plant and equipment | 294 | | | 266 | | | 252 | | | |\n| 46 | Dividends declared and not paid | 320 | | | 300 | | | 271 | | | |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 47: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Cash Flows<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net income<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
Adjustments to reconcile net income to net cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Depreciation<\/td> <\/td>747<\/td><\/td> <\/td>706<\/td><\/td> <\/td>649<\/td><\/td><\/tr>
Deferred income taxes<\/td> <\/td>647<\/td><\/td> <\/td>(273<\/td>)<\/td> <\/td>(80<\/td>)<\/td><\/tr>
Stock-based compensation<\/td> <\/td>218<\/td><\/td> <\/td>215<\/td><\/td> <\/td>236<\/td><\/td><\/tr>
Amortization and other<\/td> <\/td>27<\/td><\/td> <\/td>10<\/td><\/td> <\/td>13<\/td><\/td><\/tr>
Net foreign currency adjustments<\/td> <\/td>(99<\/td>)<\/td> <\/td>(117<\/td>)<\/td> <\/td>98<\/td><\/td><\/tr>
Changes in certain working capital components and other assets and liabilities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Decrease (increase) in accounts receivable<\/td> <\/td>187<\/td><\/td> <\/td>(426<\/td>)<\/td> <\/td>60<\/td><\/td><\/tr>
(Increase) in inventories<\/td> <\/td>(255<\/td>)<\/td> <\/td>(231<\/td>)<\/td> <\/td>(590<\/td>)<\/td><\/tr>
Decrease (increase) in prepaid expenses and other current and non-current assets<\/td> <\/td>35<\/td><\/td> <\/td>(120<\/td>)<\/td> <\/td>(161<\/td>)<\/td><\/tr>
Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities<\/td> <\/td>1,515<\/td><\/td> <\/td>(158<\/td>)<\/td> <\/td>(586<\/td>)<\/td><\/tr>
Cash provided by operations<\/td> <\/td>4,955<\/td><\/td> <\/td>3,846<\/td><\/td> <\/td>3,399<\/td><\/td><\/tr>
Cash provided (used) by investing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Purchases of short-term investments<\/td> <\/td>(4,783<\/td>)<\/td> <\/td>(5,928<\/td>)<\/td> <\/td>(5,367<\/td>)<\/td><\/tr>
Maturities of short-term investments<\/td> <\/td>3,613<\/td><\/td> <\/td>3,623<\/td><\/td> <\/td>2,924<\/td><\/td><\/tr>
Sales of short-term investments<\/td> <\/td>2,496<\/td><\/td> <\/td>2,423<\/td><\/td> <\/td>2,386<\/td><\/td><\/tr>
Investments in reverse repurchase agreements<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>150<\/td><\/td><\/tr>
Additions to property, plant and equipment<\/td> <\/td>(1,028<\/td>)<\/td> <\/td>(1,105<\/td>)<\/td> <\/td>(1,143<\/td>)<\/td><\/tr>
Disposals of property, plant and equipment<\/td> <\/td>3<\/td><\/td> <\/td>13<\/td><\/td> <\/td>10<\/td><\/td><\/tr>
Other investing activities<\/td> <\/td>(25<\/td>)<\/td> <\/td>(34<\/td>)<\/td> <\/td>6<\/td><\/td><\/tr>
Cash provided (used) by investing activities<\/td> <\/td>276<\/td><\/td> <\/td>(1,008<\/td>)<\/td> <\/td>(1,034<\/td>)<\/td><\/tr>
Cash used by financing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net proceeds from long-term debt issuance<\/td> <\/td>-<\/td><\/td> <\/td>1,482<\/td><\/td> <\/td>981<\/td><\/td><\/tr>
Long-term debt payments, including current portion<\/td> <\/td>(6<\/td>)<\/td> <\/td>(44<\/td>)<\/td> <\/td>(106<\/td>)<\/td><\/tr>
Increase (decrease) in notes payable<\/td> <\/td>13<\/td><\/td> <\/td>327<\/td><\/td> <\/td>(67<\/td>)<\/td><\/tr>
Payments on capital lease and other financing obligations<\/td> <\/td>(23<\/td>)<\/td> <\/td>(17<\/td>)<\/td> <\/td>(7<\/td>)<\/td><\/tr>
Proceeds from exercise of stock options and other stock issuances<\/td> <\/td>733<\/td><\/td> <\/td>489<\/td><\/td> <\/td>507<\/td><\/td><\/tr>
Repurchase of common stock<\/td> <\/td>(4,254<\/td>)<\/td> <\/td>(3,223<\/td>)<\/td> <\/td>(3,238<\/td>)<\/td><\/tr>
Dividends - common and preferred<\/td> <\/td>(1,243<\/td>)<\/td> <\/td>(1,133<\/td>)<\/td> <\/td>(1,022<\/td>)<\/td><\/tr>
Tax payments for net share settlement of equity awards<\/td> <\/td>(55<\/td>)<\/td> <\/td>(29<\/td>)<\/td> <\/td>(22<\/td>)<\/td><\/tr>
Cash used by financing activities<\/td> <\/td>(4,835<\/td>)<\/td> <\/td>(2,148<\/td>)<\/td> <\/td>(2,974<\/td>)<\/td><\/tr>
Effect of exchange rate changes on cash and equivalents<\/td> <\/td>45<\/td><\/td> <\/td>(20<\/td>)<\/td> <\/td>(105<\/td>)<\/td><\/tr>
Net increase (decrease) in cash and equivalents<\/td> <\/td>441<\/td><\/td> <\/td>670<\/td><\/td> <\/td>(714<\/td>)<\/td><\/tr>
Cash and equivalents, beginning of year<\/td> <\/td>3,808<\/td><\/td> <\/td>3,138<\/td><\/td> <\/td>3,852<\/td><\/td><\/tr>
CASH AND EQUIVALENTS, END OF YEAR<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td> <\/td>$<\/td>3,138<\/td><\/td><\/tr>
Supplemental disclosure of cash flow information:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash paid during the year for:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Interest, net of capitalized interest<\/td> <\/td>$<\/td>125<\/td><\/td> <\/td>$<\/td>98<\/td><\/td> <\/td>$<\/td>70<\/td><\/td><\/tr>
Income taxes<\/td> <\/td>529<\/td><\/td> <\/td>703<\/td><\/td> <\/td>748<\/td><\/td><\/tr>
Non-cash additions to property, plant and equipment<\/td> <\/td>294<\/td><\/td> <\/td>266<\/td><\/td> <\/td>252<\/td><\/td><\/tr>
Dividends declared and not paid<\/td> <\/td>320<\/td><\/td> <\/td>300<\/td><\/td> <\/td>271<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Cash Flows<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Year Ended May 31,<\/td><\/tr>
(In millions)<\/td> <\/td>2018<\/td> <\/td>2017<\/td> <\/td>2016<\/td><\/tr>
Cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net income<\/td> <\/td>$<\/td>1,933<\/td><\/td> <\/td>$<\/td>4,240<\/td><\/td> <\/td>$<\/td>3,760<\/td><\/td><\/tr>
Adjustments to reconcile net income to net cash provided by operations:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Depreciation<\/td> <\/td>747<\/td><\/td> <\/td>706<\/td><\/td> <\/td>649<\/td><\/td><\/tr>
Deferred income taxes<\/td> <\/td>647<\/td><\/td> <\/td>(273<\/td>)<\/td> <\/td>(80<\/td>)<\/td><\/tr>
Stock-based compensation<\/td> <\/td>218<\/td><\/td> <\/td>215<\/td><\/td> <\/td>236<\/td><\/td><\/tr>
Amortization and other<\/td> <\/td>27<\/td><\/td> <\/td>10<\/td><\/td> <\/td>13<\/td><\/td><\/tr>
Net foreign currency adjustments<\/td> <\/td>(99<\/td>)<\/td> <\/td>(117<\/td>)<\/td> <\/td>98<\/td><\/td><\/tr>
Changes in certain working capital components and other assets and liabilities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Decrease (increase) in accounts receivable<\/td> <\/td>187<\/td><\/td> <\/td>(426<\/td>)<\/td> <\/td>60<\/td><\/td><\/tr>
(Increase) in inventories<\/td> <\/td>(255<\/td>)<\/td> <\/td>(231<\/td>)<\/td> <\/td>(590<\/td>)<\/td><\/tr>
Decrease (increase) in prepaid expenses and other current and non-current assets<\/td> <\/td>35<\/td><\/td> <\/td>(120<\/td>)<\/td> <\/td>(161<\/td>)<\/td><\/tr>
Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities<\/td> <\/td>1,515<\/td><\/td> <\/td>(158<\/td>)<\/td> <\/td>(586<\/td>)<\/td><\/tr>
Cash provided by operations<\/td> <\/td>4,955<\/td><\/td> <\/td>3,846<\/td><\/td> <\/td>3,399<\/td><\/td><\/tr>
Cash provided (used) by investing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Purchases of short-term investments<\/td> <\/td>(4,783<\/td>)<\/td> <\/td>(5,928<\/td>)<\/td> <\/td>(5,367<\/td>)<\/td><\/tr>
Maturities of short-term investments<\/td> <\/td>3,613<\/td><\/td> <\/td>3,623<\/td><\/td> <\/td>2,924<\/td><\/td><\/tr>
Sales of short-term investments<\/td> <\/td>2,496<\/td><\/td> <\/td>2,423<\/td><\/td> <\/td>2,386<\/td><\/td><\/tr>
Investments in reverse repurchase agreements<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>150<\/td><\/td><\/tr>
Additions to property, plant and equipment<\/td> <\/td>(1,028<\/td>)<\/td> <\/td>(1,105<\/td>)<\/td> <\/td>(1,143<\/td>)<\/td><\/tr>
Disposals of property, plant and equipment<\/td> <\/td>3<\/td><\/td> <\/td>13<\/td><\/td> <\/td>10<\/td><\/td><\/tr>
Other investing activities<\/td> <\/td>(25<\/td>)<\/td> <\/td>(34<\/td>)<\/td> <\/td>6<\/td><\/td><\/tr>
Cash provided (used) by investing activities<\/td> <\/td>276<\/td><\/td> <\/td>(1,008<\/td>)<\/td> <\/td>(1,034<\/td>)<\/td><\/tr>
Cash used by financing activities:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Net proceeds from long-term debt issuance<\/td> <\/td>-<\/td><\/td> <\/td>1,482<\/td><\/td> <\/td>981<\/td><\/td><\/tr>
Long-term debt payments, including current portion<\/td> <\/td>(6<\/td>)<\/td> <\/td>(44<\/td>)<\/td> <\/td>(106<\/td>)<\/td><\/tr>
Increase (decrease) in notes payable<\/td> <\/td>13<\/td><\/td> <\/td>327<\/td><\/td> <\/td>(67<\/td>)<\/td><\/tr>
Payments on capital lease and other financing obligations<\/td> <\/td>(23<\/td>)<\/td> <\/td>(17<\/td>)<\/td> <\/td>(7<\/td>)<\/td><\/tr>
Proceeds from exercise of stock options and other stock issuances<\/td> <\/td>733<\/td><\/td> <\/td>489<\/td><\/td> <\/td>507<\/td><\/td><\/tr>
Repurchase of common stock<\/td> <\/td>(4,254<\/td>)<\/td> <\/td>(3,223<\/td>)<\/td> <\/td>(3,238<\/td>)<\/td><\/tr>
Dividends - common and preferred<\/td> <\/td>(1,243<\/td>)<\/td> <\/td>(1,133<\/td>)<\/td> <\/td>(1,022<\/td>)<\/td><\/tr>
Tax payments for net share settlement of equity awards<\/td> <\/td>(55<\/td>)<\/td> <\/td>(29<\/td>)<\/td> <\/td>(22<\/td>)<\/td><\/tr>
Cash used by financing activities<\/td> <\/td>(4,835<\/td>)<\/td> <\/td>(2,148<\/td>)<\/td> <\/td>(2,974<\/td>)<\/td><\/tr>
Effect of exchange rate changes on cash and equivalents<\/td> <\/td>45<\/td><\/td> <\/td>(20<\/td>)<\/td> <\/td>(105<\/td>)<\/td><\/tr>
Net increase (decrease) in cash and equivalents<\/td> <\/td>441<\/td><\/td> <\/td>670<\/td><\/td> <\/td>(714<\/td>)<\/td><\/tr>
Cash and equivalents, beginning of year<\/td> <\/td>3,808<\/td><\/td> <\/td>3,138<\/td><\/td> <\/td>3,852<\/td><\/td><\/tr>
CASH AND EQUIVALENTS, END OF YEAR<\/td> <\/td>$<\/td>4,249<\/td><\/td> <\/td>$<\/td>3,808<\/td><\/td> <\/td>$<\/td>3,138<\/td><\/td><\/tr>
Supplemental disclosure of cash flow information:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Cash paid during the year for:<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td><\/tr>
Interest, net of capitalized interest<\/td> <\/td>$<\/td>125<\/td><\/td> <\/td>$<\/td>98<\/td><\/td> <\/td>$<\/td>70<\/td><\/td><\/tr>
Income taxes<\/td> <\/td>529<\/td><\/td> <\/td>703<\/td><\/td> <\/td>748<\/td><\/td><\/tr>
Non-cash additions to property, plant and equipment<\/td> <\/td>294<\/td><\/td> <\/td>266<\/td><\/td> <\/td>252<\/td><\/td><\/tr>
Dividends declared and not paid<\/td> <\/td>320<\/td><\/td> <\/td>300<\/td><\/td> <\/td>271<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n47\n\n\n\n"} +{"QID":"q_Ra188","Question":"What is the percentage change in dividends paid on common and preferred stock from 2017 to 2018?","ground_truth_answer":"Dividends Paid on Common and Preferred Stock 2018: $1,265 million\nDividends Paid on Common and Preferred Stock 2017: $1,159 million\n\nFormula:\nPercentage Change in Dividends = ((Dividends 2018 - Dividends 2017) \/ Dividends 2017) \u00d7 100\n\nCalculation:\nPercentage Change = ((1,265 - 1,159) \/ 1,159) \u00d7 100\nPercentage Change = (106 \/ 1,159) \u00d7 100 \u2248 9.14%\n\nAnswer:\nDividends paid on common and preferred stock increased by approximately 9.14% from 2017 to 2018. This reflects Nike's strategy to return more value to shareholders through a higher dividend payout, consistent with its commitment to shareholder returns.","question_type":"Ratio","page_number":48,"accession_number":"0000320187-18-000142","item":"ITEM 8. Financial Statements and Supplementary Data","context_markdown_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 48: \n| | |\n|---:|:-----------------------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Shareholders' Equity |\n\n\n| | | | | | | | | | | | | | | | | | | | | | | | | | | |\n|---:|:----------------------------------------------------------------------------------|:-------------|:---|:-------------------------------|:---|:------------------------------------|:---|:-----------------|:------|:------|:-----|:-----|:---|:-------|:----|:-------|:-------|:----|:-------|:---|:------|:---|:---|:------|:---|:-------|\n| 2 | | Common Stock | | Capital inExcessof StatedValue | | AccumulatedOtherComprehensiveIncome | | RetainedEarnings | | Total | | | | | | | | | | | | | | | | |\n| 3 | | Class A | | Class B | | | | | | | | | | | | | | | | | | | | | | |\n| 4 | (In millions, except per share data) | Shares | | Amount | | Shares | | Amount | | | | | | | | | | | | | | | | | | |\n| 5 | Balance at May 31, 2015 | 355 | | | $ | - | | | 1,357 | | | $ | 3 | | | $ | 4,165 | | | $ | 1,246 | | $ | 7,293 | $ | 12,707 |\n| 6 | Stock options exercised | | | | | 22 | | | | | 680 | | | | | | | 680 | | | | | | | | |\n| 7 | Conversion to Class B Common Stock | (2 | ) | | - | | | 2 | | | - | | | | | | | | | - | | | | | | |\n| 8 | Repurchase of Class B Common Stock | | | | | (55 | ) | | | | (148 | ) | | | | (3,090 | ) | | (3,238 | ) | | | | | | |\n| 9 | Dividends on common stock ($0.62 per share) and preferred stock ($0.10 per share) | | | | | | | | | | | | | (1,053 | ) | | (1,053 | ) | | | | | | | | |\n| 10 | Issuance of shares to employees, net of shares withheld for employee taxes | | | | | 3 | | | | | 105 | | | | | (11 | ) | | 94 | | | | | | | |\n| 11 | Stock-based compensation | | | | | | | | | 236 | | | | | | | 236 | | | | | | | | | |\n| 12 | Net income | | | | | | | | | | | | | 3,760 | | | 3,760 | | | | | | | | | |\n| 13 | Other comprehensive income (loss) | | | | | | | | | | | (928 | ) | | | | (928 | ) | | | | | | | | |\n| 14 | Balance at May 31, 2016 | 353 | | | $ | - | | | 1,329 | | | $ | 3 | | | $ | 5,038 | | | $ | 318 | | $ | 6,899 | $ | 12,258 |\n| 15 | Stock options exercised | | | | | 17 | | | | | 525 | | | | | | | 525 | | | | | | | | |\n| 16 | Conversion to Class B Common Stock | (24 | ) | | - | | | 24 | | | - | | | | | | | | | - | | | | | | |\n| 17 | Repurchase of Class B Common Stock | | | | | (60 | ) | | | | (189 | ) | | | | (3,060 | ) | | (3,249 | ) | | | | | | |\n| 18 | Dividends on common stock ($0.70 per share) and preferred stock ($0.10 per share) | | | | | | | | | | | | | (1,159 | ) | | (1,159 | ) | | | | | | | | |\n| 19 | Issuance of shares to employees, net of shares withheld for employee taxes | | | | | 4 | | | | | 121 | | | | | (13 | ) | | 108 | | | | | | | |\n| 20 | Stock-based compensation | | | | | | | | | 215 | | | | | | | 215 | | | | | | | | | |\n| 21 | Net income | | | | | | | | | | | | | 4,240 | | | 4,240 | | | | | | | | | |\n| 22 | Other comprehensive income (loss) | | | | | | | | | | | (531 | ) | | | | (531 | ) | | | | | | | | |\n| 23 | Balance at May 31, 2017 | 329 | | | $ | - | | | 1,314 | | | $ | 3 | | | $ | 5,710 | | | $ | (213 | ) | $ | 6,907 | $ | 12,407 |\n| 24 | Stock options exercised | | | | | 24 | | | | | 600 | | | | | | | 600 | | | | | | | | |\n| 25 | Conversion to Class B Common Stock | - | | | - | | | - | | | - | | | | | | | | | - | | | | | | |\n| 26 | Repurchase of Class B Common Stock | | | | | (70 | ) | | | | (254 | ) | | | | (4,013 | ) | | (4,267 | ) | | | | | | |\n| 27 | Dividends on common stock ($0.78 per share) and preferred stock ($0.10 per share) | | | | | | | | | | | | | (1,265 | ) | | (1,265 | ) | | | | | | | | |\n| 28 | Issuance of shares to employees, net of shares withheld for employee taxes | | | | | 4 | | | | | 110 | | | | | (28 | ) | | 82 | | | | | | | |\n| 29 | Stock-based compensation | | | | | | | | | 218 | | | | | | | 218 | | | | | | | | | |\n| 30 | Net income | | | | | | | | | | | | | 1,933 | | | 1,933 | | | | | | | | | |\n| 31 | Other comprehensive income (loss) | | | | | | | | | | | 104 | | | | | 104 | | | | | | | | | |\n| 32 | Reclassifications to retained earnings in accordance with ASU 2018-02 | | | | | | | | | | | 17 | | | (17 | ) | | - | | | | | | | | |\n| 33 | Balance at May 31, 2018 | 329 | | | $ | - | | | 1,272 | | | $ | 3 | | | $ | 6,384 | | | $ | (92 | ) | $ | 3,517 | $ | 9,812 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n48\n\n\n\n","context_markdown_without_headers":"\n| | |\n|---:|:-----------------------------------------------------------|\n| 2 | NIKE, Inc. Consolidated Statements of Shareholders' Equity |\n\n\n| | | | | | | | | | | | | | | | | | | | | | | | | | | |\n|---:|:----------------------------------------------------------------------------------|:-------------|:---|:-------------------------------|:---|:------------------------------------|:---|:-----------------|:------|:------|:-----|:-----|:---|:-------|:----|:-------|:-------|:----|:-------|:---|:------|:---|:---|:------|:---|:-------|\n| 2 | | Common Stock | | Capital inExcessof StatedValue | | AccumulatedOtherComprehensiveIncome | | RetainedEarnings | | Total | | | | | | | | | | | | | | | | |\n| 3 | | Class A | | Class B | | | | | | | | | | | | | | | | | | | | | | |\n| 4 | (In millions, except per share data) | Shares | | Amount | | Shares | | Amount | | | | | | | | | | | | | | | | | | |\n| 5 | Balance at May 31, 2015 | 355 | | | $ | - | | | 1,357 | | | $ | 3 | | | $ | 4,165 | | | $ | 1,246 | | $ | 7,293 | $ | 12,707 |\n| 6 | Stock options exercised | | | | | 22 | | | | | 680 | | | | | | | 680 | | | | | | | | |\n| 7 | Conversion to Class B Common Stock | (2 | ) | | - | | | 2 | | | - | | | | | | | | | - | | | | | | |\n| 8 | Repurchase of Class B Common Stock | | | | | (55 | ) | | | | (148 | ) | | | | (3,090 | ) | | (3,238 | ) | | | | | | |\n| 9 | Dividends on common stock ($0.62 per share) and preferred stock ($0.10 per share) | | | | | | | | | | | | | (1,053 | ) | | (1,053 | ) | | | | | | | | |\n| 10 | Issuance of shares to employees, net of shares withheld for employee taxes | | | | | 3 | | | | | 105 | | | | | (11 | ) | | 94 | | | | | | | |\n| 11 | Stock-based compensation | | | | | | | | | 236 | | | | | | | 236 | | | | | | | | | |\n| 12 | Net income | | | | | | | | | | | | | 3,760 | | | 3,760 | | | | | | | | | |\n| 13 | Other comprehensive income (loss) | | | | | | | | | | | (928 | ) | | | | (928 | ) | | | | | | | | |\n| 14 | Balance at May 31, 2016 | 353 | | | $ | - | | | 1,329 | | | $ | 3 | | | $ | 5,038 | | | $ | 318 | | $ | 6,899 | $ | 12,258 |\n| 15 | Stock options exercised | | | | | 17 | | | | | 525 | | | | | | | 525 | | | | | | | | |\n| 16 | Conversion to Class B Common Stock | (24 | ) | | - | | | 24 | | | - | | | | | | | | | - | | | | | | |\n| 17 | Repurchase of Class B Common Stock | | | | | (60 | ) | | | | (189 | ) | | | | (3,060 | ) | | (3,249 | ) | | | | | | |\n| 18 | Dividends on common stock ($0.70 per share) and preferred stock ($0.10 per share) | | | | | | | | | | | | | (1,159 | ) | | (1,159 | ) | | | | | | | | |\n| 19 | Issuance of shares to employees, net of shares withheld for employee taxes | | | | | 4 | | | | | 121 | | | | | (13 | ) | | 108 | | | | | | | |\n| 20 | Stock-based compensation | | | | | | | | | 215 | | | | | | | 215 | | | | | | | | | |\n| 21 | Net income | | | | | | | | | | | | | 4,240 | | | 4,240 | | | | | | | | | |\n| 22 | Other comprehensive income (loss) | | | | | | | | | | | (531 | ) | | | | (531 | ) | | | | | | | | |\n| 23 | Balance at May 31, 2017 | 329 | | | $ | - | | | 1,314 | | | $ | 3 | | | $ | 5,710 | | | $ | (213 | ) | $ | 6,907 | $ | 12,407 |\n| 24 | Stock options exercised | | | | | 24 | | | | | 600 | | | | | | | 600 | | | | | | | | |\n| 25 | Conversion to Class B Common Stock | - | | | - | | | - | | | - | | | | | | | | | - | | | | | | |\n| 26 | Repurchase of Class B Common Stock | | | | | (70 | ) | | | | (254 | ) | | | | (4,013 | ) | | (4,267 | ) | | | | | | |\n| 27 | Dividends on common stock ($0.78 per share) and preferred stock ($0.10 per share) | | | | | | | | | | | | | (1,265 | ) | | (1,265 | ) | | | | | | | | |\n| 28 | Issuance of shares to employees, net of shares withheld for employee taxes | | | | | 4 | | | | | 110 | | | | | (28 | ) | | 82 | | | | | | | |\n| 29 | Stock-based compensation | | | | | | | | | 218 | | | | | | | 218 | | | | | | | | | |\n| 30 | Net income | | | | | | | | | | | | | 1,933 | | | 1,933 | | | | | | | | | |\n| 31 | Other comprehensive income (loss) | | | | | | | | | | | 104 | | | | | 104 | | | | | | | | | |\n| 32 | Reclassifications to retained earnings in accordance with ASU 2018-02 | | | | | | | | | | | 17 | | | (17 | ) | | - | | | | | | | | |\n| 33 | Balance at May 31, 2018 | 329 | | | $ | - | | | 1,272 | | | $ | 3 | | | $ | 6,384 | | | $ | (92 | ) | $ | 3,517 | $ | 9,812 |\n\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n48\n\n\n\n","context_html_with_headers":"NIKE INC 10-K form for the fiscal year ended 2018-05-31, page 48: \n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Shareholders' Equity<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Common Stock<\/td> <\/td>Capital inExcessof StatedValue<\/td> <\/td>AccumulatedOtherComprehensiveIncome<\/td> <\/td>RetainedEarnings<\/td> <\/td>Total<\/td><\/tr>
<\/td> <\/td>Class A<\/td> <\/td>Class B<\/td> <\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>Shares<\/td> <\/td>Amount<\/td> <\/td>Shares<\/td> <\/td>Amount<\/td> <\/td><\/tr>
Balance at May 31, 2015<\/td> <\/td>355<\/td><\/td> <\/td>$<\/td>-<\/td><\/td> <\/td>1,357<\/td><\/td> <\/td>$<\/td>3<\/td><\/td> <\/td>$<\/td>4,165<\/td><\/td> <\/td>$<\/td>1,246<\/td><\/td> <\/td>$<\/td>7,293<\/td><\/td> <\/td>$<\/td>12,707<\/td><\/td><\/tr>
Stock options exercised<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>22<\/td><\/td> <\/td> <\/td> <\/td>680<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td>680<\/td><\/td><\/tr>
Conversion to Class B Common Stock<\/td> <\/td>(2<\/td>)<\/td> <\/td>-<\/td><\/td> <\/td>2<\/td><\/td> <\/td>-<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>-<\/td><\/td><\/tr>
Repurchase of Class B Common Stock<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(55<\/td>)<\/td> <\/td> <\/td> <\/td>(148<\/td>)<\/td> <\/td> <\/td> <\/td>(3,090<\/td>)<\/td> <\/td>(3,238<\/td>)<\/td><\/tr>
Dividends on common stock ($0.62 per share) and preferred stock ($0.10 per share)<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(1,053<\/td>)<\/td> <\/td>(1,053<\/td>)<\/td><\/tr>
Issuance of shares to employees, net of shares withheld for employee taxes<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>3<\/td><\/td> <\/td> <\/td> <\/td>105<\/td><\/td> <\/td> <\/td> <\/td>(11<\/td>)<\/td> <\/td>94<\/td><\/td><\/tr>
Stock-based compensation<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>236<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td>236<\/td><\/td><\/tr>
Net income<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>3,760<\/td><\/td> <\/td>3,760<\/td><\/td><\/tr>
Other comprehensive income (loss)<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(928<\/td>)<\/td> <\/td> <\/td> <\/td>(928<\/td>)<\/td><\/tr>
Balance at May 31, 2016<\/td> <\/td>353<\/td><\/td> <\/td>$<\/td>-<\/td><\/td> <\/td>1,329<\/td><\/td> <\/td>$<\/td>3<\/td><\/td> <\/td>$<\/td>5,038<\/td><\/td> <\/td>$<\/td>318<\/td><\/td> <\/td>$<\/td>6,899<\/td><\/td> <\/td>$<\/td>12,258<\/td><\/td><\/tr>
Stock options exercised<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>17<\/td><\/td> <\/td> <\/td> <\/td>525<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td>525<\/td><\/td><\/tr>
Conversion to Class B Common Stock<\/td> <\/td>(24<\/td>)<\/td> <\/td>-<\/td><\/td> <\/td>24<\/td><\/td> <\/td>-<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>-<\/td><\/td><\/tr>
Repurchase of Class B Common Stock<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(60<\/td>)<\/td> <\/td> <\/td> <\/td>(189<\/td>)<\/td> <\/td> <\/td> <\/td>(3,060<\/td>)<\/td> <\/td>(3,249<\/td>)<\/td><\/tr>
Dividends on common stock ($0.70 per share) and preferred stock ($0.10 per share)<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(1,159<\/td>)<\/td> <\/td>(1,159<\/td>)<\/td><\/tr>
Issuance of shares to employees, net of shares withheld for employee taxes<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>4<\/td><\/td> <\/td> <\/td> <\/td>121<\/td><\/td> <\/td> <\/td> <\/td>(13<\/td>)<\/td> <\/td>108<\/td><\/td><\/tr>
Stock-based compensation<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>215<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td>215<\/td><\/td><\/tr>
Net income<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>4,240<\/td><\/td> <\/td>4,240<\/td><\/td><\/tr>
Other comprehensive income (loss)<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(531<\/td>)<\/td> <\/td> <\/td> <\/td>(531<\/td>)<\/td><\/tr>
Balance at May 31, 2017<\/td> <\/td>329<\/td><\/td> <\/td>$<\/td>-<\/td><\/td> <\/td>1,314<\/td><\/td> <\/td>$<\/td>3<\/td><\/td> <\/td>$<\/td>5,710<\/td><\/td> <\/td>$<\/td>(213<\/td>)<\/td> <\/td>$<\/td>6,907<\/td><\/td> <\/td>$<\/td>12,407<\/td><\/td><\/tr>
Stock options exercised<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>24<\/td><\/td> <\/td> <\/td> <\/td>600<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td>600<\/td><\/td><\/tr>
Conversion to Class B Common Stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>-<\/td><\/td><\/tr>
Repurchase of Class B Common Stock<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(70<\/td>)<\/td> <\/td> <\/td> <\/td>(254<\/td>)<\/td> <\/td> <\/td> <\/td>(4,013<\/td>)<\/td> <\/td>(4,267<\/td>)<\/td><\/tr>
Dividends on common stock ($0.78 per share) and preferred stock ($0.10 per share)<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(1,265<\/td>)<\/td> <\/td>(1,265<\/td>)<\/td><\/tr>
Issuance of shares to employees, net of shares withheld for employee taxes<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>4<\/td><\/td> <\/td> <\/td> <\/td>110<\/td><\/td> <\/td> <\/td> <\/td>(28<\/td>)<\/td> <\/td>82<\/td><\/td><\/tr>
Stock-based compensation<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>218<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td>218<\/td><\/td><\/tr>
Net income<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>1,933<\/td><\/td> <\/td>1,933<\/td><\/td><\/tr>
Other comprehensive income (loss)<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>104<\/td><\/td> <\/td> <\/td> <\/td>104<\/td><\/td><\/tr>
Reclassifications to retained earnings in accordance with ASU 2018-02<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>17<\/td><\/td> <\/td>(17<\/td>)<\/td> <\/td>-<\/td><\/td><\/tr>
Balance at May 31, 2018<\/td> <\/td>329<\/td><\/td> <\/td>$<\/td>-<\/td><\/td> <\/td>1,272<\/td><\/td> <\/td>$<\/td>3<\/td><\/td> <\/td>$<\/td>6,384<\/td><\/td> <\/td>$<\/td>(92<\/td>)<\/td> <\/td>$<\/td>3,517<\/td><\/td> <\/td>$<\/td>9,812<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n48\n\n\n\n","context_html_without_headers":"\n
<\/td><\/tr>
<\/td><\/tr>
NIKE, Inc. Consolidated Statements of Shareholders' Equity<\/td><\/tr><\/table>\n\n
<\/td><\/tr>
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/tr>
<\/td> <\/td>Common Stock<\/td> <\/td>Capital inExcessof StatedValue<\/td> <\/td>AccumulatedOtherComprehensiveIncome<\/td> <\/td>RetainedEarnings<\/td> <\/td>Total<\/td><\/tr>
<\/td> <\/td>Class A<\/td> <\/td>Class B<\/td> <\/td><\/tr>
(In millions, except per share data)<\/td> <\/td>Shares<\/td> <\/td>Amount<\/td> <\/td>Shares<\/td> <\/td>Amount<\/td> <\/td><\/tr>
Balance at May 31, 2015<\/td> <\/td>355<\/td><\/td> <\/td>$<\/td>-<\/td><\/td> <\/td>1,357<\/td><\/td> <\/td>$<\/td>3<\/td><\/td> <\/td>$<\/td>4,165<\/td><\/td> <\/td>$<\/td>1,246<\/td><\/td> <\/td>$<\/td>7,293<\/td><\/td> <\/td>$<\/td>12,707<\/td><\/td><\/tr>
Stock options exercised<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>22<\/td><\/td> <\/td> <\/td> <\/td>680<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td>680<\/td><\/td><\/tr>
Conversion to Class B Common Stock<\/td> <\/td>(2<\/td>)<\/td> <\/td>-<\/td><\/td> <\/td>2<\/td><\/td> <\/td>-<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>-<\/td><\/td><\/tr>
Repurchase of Class B Common Stock<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(55<\/td>)<\/td> <\/td> <\/td> <\/td>(148<\/td>)<\/td> <\/td> <\/td> <\/td>(3,090<\/td>)<\/td> <\/td>(3,238<\/td>)<\/td><\/tr>
Dividends on common stock ($0.62 per share) and preferred stock ($0.10 per share)<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(1,053<\/td>)<\/td> <\/td>(1,053<\/td>)<\/td><\/tr>
Issuance of shares to employees, net of shares withheld for employee taxes<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>3<\/td><\/td> <\/td> <\/td> <\/td>105<\/td><\/td> <\/td> <\/td> <\/td>(11<\/td>)<\/td> <\/td>94<\/td><\/td><\/tr>
Stock-based compensation<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>236<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td>236<\/td><\/td><\/tr>
Net income<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>3,760<\/td><\/td> <\/td>3,760<\/td><\/td><\/tr>
Other comprehensive income (loss)<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(928<\/td>)<\/td> <\/td> <\/td> <\/td>(928<\/td>)<\/td><\/tr>
Balance at May 31, 2016<\/td> <\/td>353<\/td><\/td> <\/td>$<\/td>-<\/td><\/td> <\/td>1,329<\/td><\/td> <\/td>$<\/td>3<\/td><\/td> <\/td>$<\/td>5,038<\/td><\/td> <\/td>$<\/td>318<\/td><\/td> <\/td>$<\/td>6,899<\/td><\/td> <\/td>$<\/td>12,258<\/td><\/td><\/tr>
Stock options exercised<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>17<\/td><\/td> <\/td> <\/td> <\/td>525<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td>525<\/td><\/td><\/tr>
Conversion to Class B Common Stock<\/td> <\/td>(24<\/td>)<\/td> <\/td>-<\/td><\/td> <\/td>24<\/td><\/td> <\/td>-<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>-<\/td><\/td><\/tr>
Repurchase of Class B Common Stock<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(60<\/td>)<\/td> <\/td> <\/td> <\/td>(189<\/td>)<\/td> <\/td> <\/td> <\/td>(3,060<\/td>)<\/td> <\/td>(3,249<\/td>)<\/td><\/tr>
Dividends on common stock ($0.70 per share) and preferred stock ($0.10 per share)<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(1,159<\/td>)<\/td> <\/td>(1,159<\/td>)<\/td><\/tr>
Issuance of shares to employees, net of shares withheld for employee taxes<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>4<\/td><\/td> <\/td> <\/td> <\/td>121<\/td><\/td> <\/td> <\/td> <\/td>(13<\/td>)<\/td> <\/td>108<\/td><\/td><\/tr>
Stock-based compensation<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>215<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td>215<\/td><\/td><\/tr>
Net income<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>4,240<\/td><\/td> <\/td>4,240<\/td><\/td><\/tr>
Other comprehensive income (loss)<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(531<\/td>)<\/td> <\/td> <\/td> <\/td>(531<\/td>)<\/td><\/tr>
Balance at May 31, 2017<\/td> <\/td>329<\/td><\/td> <\/td>$<\/td>-<\/td><\/td> <\/td>1,314<\/td><\/td> <\/td>$<\/td>3<\/td><\/td> <\/td>$<\/td>5,710<\/td><\/td> <\/td>$<\/td>(213<\/td>)<\/td> <\/td>$<\/td>6,907<\/td><\/td> <\/td>$<\/td>12,407<\/td><\/td><\/tr>
Stock options exercised<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>24<\/td><\/td> <\/td> <\/td> <\/td>600<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td>600<\/td><\/td><\/tr>
Conversion to Class B Common Stock<\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td>-<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>-<\/td><\/td><\/tr>
Repurchase of Class B Common Stock<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(70<\/td>)<\/td> <\/td> <\/td> <\/td>(254<\/td>)<\/td> <\/td> <\/td> <\/td>(4,013<\/td>)<\/td> <\/td>(4,267<\/td>)<\/td><\/tr>
Dividends on common stock ($0.78 per share) and preferred stock ($0.10 per share)<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>(1,265<\/td>)<\/td> <\/td>(1,265<\/td>)<\/td><\/tr>
Issuance of shares to employees, net of shares withheld for employee taxes<\/td> <\/td> <\/td> <\/td> <\/td> <\/td>4<\/td><\/td> <\/td> <\/td> <\/td>110<\/td><\/td> <\/td> <\/td> <\/td>(28<\/td>)<\/td> <\/td>82<\/td><\/td><\/tr>
Stock-based compensation<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>218<\/td><\/td> <\/td> <\/td> <\/td> <\/td> <\/td>218<\/td><\/td><\/tr>
Net income<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>1,933<\/td><\/td> <\/td>1,933<\/td><\/td><\/tr>
Other comprehensive income (loss)<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>104<\/td><\/td> <\/td> <\/td> <\/td>104<\/td><\/td><\/tr>
Reclassifications to retained earnings in accordance with ASU 2018-02<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td>17<\/td><\/td> <\/td>(17<\/td>)<\/td> <\/td>-<\/td><\/td><\/tr>
Balance at May 31, 2018<\/td> <\/td>329<\/td><\/td> <\/td>$<\/td>-<\/td><\/td> <\/td>1,272<\/td><\/td> <\/td>$<\/td>3<\/td><\/td> <\/td>$<\/td>6,384<\/td><\/td> <\/td>$<\/td>(92<\/td>)<\/td> <\/td>$<\/td>3,517<\/td><\/td> <\/td>$<\/td>9,812<\/td><\/td><\/tr><\/table>\nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\n\n48\n\n\n\n"}