{"financebench_id":"financebench_id_03029","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2018 capital expenditure amount (in USD millions) for 3M? Give a response to the question by relying on the details shown in the cash flow statement.","gold_answer":1577,"model_answer":"I'm sorry, but as an AI developed by OpenAI, I don't have access to real-time or historical financial data, including the cash flow statements of specific companies like 3M. To find the capital expenditure amount for 3M in FY2018, you would need to look at the company's annual report or Form 10-K for the fiscal year 2018. The capital expenditure (often listed as \"purchases of property, plant, and equipment\" or something similar) can be found in the investing activities section of the cash flow statement.\n\nIf you have access to 3M's FY2018 financial statements, you can find the cash flow statement and look for the line item that refers to capital expenditures. The number will be listed in millions of USD if that's the standard reporting currency for 3M. If you provide me with the specific figure from the cash flow statement, I can certainly comment on it or help you understand what it means.","label":"Refusal"}
{"financebench_id":"financebench_id_04672","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Assume that you are a public equities analyst. Answer the following question by primarily using information that is shown in the balance sheet: what is the year end FY2018 net PPNE for 3M? Answer in USD billions.","gold_answer":8.7,"model_answer":"As a public equities analyst, to answer the question regarding the year-end FY2018 net Property, Plant, and Equipment (PP&E) for 3M, I would typically refer to the company's annual report for the fiscal year 2018. The balance sheet within the annual report would list the company's assets, including gross PP&E and accumulated depreciation. The net PP&E is calculated by subtracting accumulated depreciation from the gross PP&E.\n\nHowever, as an AI developed by OpenAI, I do not have access to real-time or updated databases, and my knowledge is based on information available up to my last training data in early 2023. To find the exact figure for 3M's year-end FY2018 net PP&E, you would need to look at the company's 2018 annual report or 10-K filing with the Securities and Exchange Commission (SEC), which would provide the detailed financial statements including the balance sheet.\n\nIf you have access to 3M's financial statements, you can find the net PP&E figure under the 'Property, Plant, and Equipment, net' line item on the balance sheet. If you do not have access to these documents, they are typically available on the investor relations section of the company's website or through the SEC's EDGAR database.\n\nOnce you locate the balance sheet, look for the 'Property, Plant, and Equipment' section. There you will find the original cost of the PP&E and the accumulated depreciation. Subtract the accumulated depreciation from the original cost to get the net PP&E value. The value will be presented in millions or billions of USD, depending on the reporting format of the company.\n\nPlease note that without the actual financial documents, I cannot provide the specific figure for 3M's year-end FY2018 net PP&E.","label":"Refusal"}
{"financebench_id":"financebench_id_01865","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"If we exclude the impact of M&A, which segment has dragged down 3M's overall growth in 2022?","gold_answer":"The consumer segment shrunk by 0.9% organically.","model_answer":"As of my last update in early 2023, I do not have access to the most current and specific financial data for 3M for the year 2022. To determine which segment may have dragged down 3M's overall growth in 2022, excluding the impact of mergers and acquisitions (M&A), one would need to review the company's financial statements, earnings reports, and segment performance data for that year.\n\n3M typically reports its financial performance across four business segments:\n\n1. Safety & Industrial\n2. Transportation & Electronics\n3. Health Care\n4. Consumer\n\nTo find the specific segment that underperformed in 2022, you would need to look at the year-over-year growth rates, operating income, and other relevant financial metrics for each segment as reported in 3M's quarterly and annual reports. These reports are publicly available on the company's investor relations website.\n\nIf you are looking for the most up-to-date and detailed information, I recommend checking the latest financial disclosures from 3M directly.","label":"Refusal"}
{"financebench_id":"financebench_id_01226","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What drove operating margin change as of FY2022 for 3M? If operating margin is not a useful metric for a company like this, then please state that and explain why.","gold_answer":"Operating Margin for 3M in FY2022 has decreased by 1.7% primarily due to: \n-Decrease in gross Margin\n-mostly one-off charges including Combat Arms Earplugs litigation, impairment related to exiting PFAS manufacturing, costs related to exiting Russia and divestiture-related restructuring\ncharges","model_answer":"As of my last update in early 2023, I do not have access to real-time data or specific financial reports for companies like 3M for the fiscal year 2022. However, I can provide you with a general understanding of what factors typically drive operating margin changes for a company like 3M, which is a diversified technology company with a presence in various sectors such as industry, worker safety, health care, and consumer goods.\n\nOperating margin is a measure of profitability that shows what percentage of a company's revenue is left over after paying for variable costs of production such as wages and raw materials. It is a useful metric for a company like 3M because it provides insight into the efficiency of the company's core business operations before accounting for non-operational items like taxes and interest expenses.\n\nFactors that could have driven operating margin changes for 3M in FY2022 might include:\n\n1. **Cost of Goods Sold (COGS):** Changes in the cost of raw materials, labor, or manufacturing processes can affect the operating margin. If 3M managed to reduce these costs or improve operational efficiency, the operating margin could have increased. Conversely, if costs rose without a corresponding increase in prices, margins could have been squeezed.\n\n2. **Sales and Revenue:** An increase in sales and revenue, particularly if achieved without a proportional increase in costs, would typically improve operating margins. This could come from new product introductions, increased demand for 3M products, or price increases.\n\n3. **Product Mix:** The mix of products sold can also impact margins. Higher-margin products contributing a greater share of revenue can increase overall operating margins.\n\n4. **Supply Chain and Logistics:** Any improvements or disruptions in the supply chain can affect operating costs. For example, more efficient logistics could reduce costs, while supply chain disruptions could increase them.\n\n5. **Restructuring Costs:** If 3M underwent any restructuring during the fiscal year, the costs associated with such activities (like severance pay, asset write-downs, etc.) could temporarily reduce operating margins.\n\n6. **Currency Fluctuations:** As a global company, 3M's financial results can be significantly affected by currency exchange rates. A stronger U.S. dollar relative to other currencies can reduce the value of overseas sales when converted back to dollars, potentially impacting margins.\n\n7. **Inflation and Economic Conditions:** General economic conditions, including inflation, can affect both the cost side (e.g., raw materials, labor) and the revenue side (e.g., customer demand, pricing power) of the business.\n\nTo get the specific reasons for the change in 3M's operating margin for FY2022, one would need to review the company's financial statements, management discussion and analysis (MD&A), and any press releases or earnings call transcripts that provide management's perspective on the financial results. These sources would provide the detailed explanations and context for any changes in the operating margin.","label":"Refusal"}
{"financebench_id":"financebench_id_00499","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Is 3M a capital-intensive business based on FY2022 data?","gold_answer":"No, the company is managing its CAPEX and Fixed Assets pretty efficiently, which is evident from below key metrics:\nCAPEX\/Revenue Ratio: 5.1%\nFixed assets\/Total Assets: 20%\nReturn on Assets= 12.4%","model_answer":"As of my last update in early 2023, I don't have access to real-time or the most current financial data for 3M or any other company. To determine whether 3M is a capital-intensive business based on FY2022 data, you would need to look at their financial statements, particularly the balance sheet and cash flow statement, for that fiscal year.\n\nA capital-intensive business typically has a high proportion of capital assets relative to its labor costs. This means the company invests a significant amount of money in physical assets such as plants, machinery, and equipment to produce goods or services.\n\nTo assess if 3M is capital-intensive, you would consider the following:\n\n1. **Capital Expenditures (CapEx):** Look at the company's cash flow statement to see how much money is being invested in property, plant, and equipment (PP&E). A high CapEx relative to its revenue or operating cash flow might indicate a capital-intensive business.\n\n2. **Depreciation and Amortization:** High depreciation and amortization expenses on the income statement can also be a sign of significant investment in long-term assets, which is characteristic of capital-intensive industries.\n\n3. **Asset Turnover Ratio:** This ratio, calculated by dividing revenue by total assets, indicates how efficiently a company uses its assets to generate sales. A lower asset turnover ratio might suggest a capital-intensive company, as it indicates more assets are required to generate each dollar of sales.\n\n4. **Comparison to Industry:** Compare 3M's capital intensity to other companies in the same industry. If 3M's capital expenditures and asset base are significantly higher than its peers, it may be more capital-intensive.\n\nTo get the most accurate and up-to-date information, you should look at 3M's 2022 annual report or 10-K filing with the Securities and Exchange Commission (SEC), which would provide detailed financial information and management's discussion of the company's capital expenditures and investment strategy.","label":"Refusal"}
{"financebench_id":"financebench_id_00807","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Does 3M have a reasonably healthy liquidity profile based on its quick ratio for Q2 of FY2023? If the quick ratio is not relevant to measure liquidity, please state that and explain why.","gold_answer":"No. The quick ratio for 3M was 0.96 by Jun'23 close, which needs a bit of an improvement to touch the 1x mark","model_answer":"As of my last update, I do not have real-time access to financial data or the specific quick ratio for 3M for Q2 of FY2023. To determine if 3M has a reasonably healthy liquidity profile based on its quick ratio, you would need to look at the company's most recent financial statements.\n\nThe quick ratio, also known as the acid-test ratio, is a measure of a company's ability to meet its short-term obligations with its most liquid assets. It is calculated by taking the sum of cash, marketable securities, and accounts receivable, then dividing by the current liabilities. A quick ratio of 1 or higher is generally considered satisfactory as it indicates that the company has enough liquid assets to cover its current liabilities.\n\nTo assess 3M's liquidity profile, you would need to:\n\n1. Obtain the company's balance sheet for Q2 of FY2023.\n2. Calculate the quick ratio using the formula: (Cash + Marketable Securities + Accounts Receivable) \/ Current Liabilities.\n3. Compare the resulting figure to industry standards and historical performance to determine if it is healthy.\n\nIf the quick ratio is significantly lower than 1, it might suggest that the company could struggle to cover its short-term obligations without selling inventory or obtaining additional financing.\n\nHowever, it's important to note that the quick ratio is not the only measure of liquidity. Other factors, such as the company's operating cash flow, credit lines available, the quality of receivables, inventory turnover, and the overall industry context, should also be considered when evaluating a company's liquidity.\n\nIf the quick ratio is not relevant for 3M, it could be due to the nature of its business. For example, if 3M has a stable cash flow from operations that comfortably covers its short-term obligations, the quick ratio might be less critical. Additionally, if 3M has access to flexible credit facilities or operates in an industry with longer payment cycles, the quick ratio might not fully capture the company's liquidity position.\n\nFor the most accurate and up-to-date information, please refer to the latest financial reports released by 3M or financial databases that provide real-time financial data.","label":"Refusal"}
{"financebench_id":"financebench_id_00941","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Which debt securities are registered to trade on a national securities exchange under 3M's name as of Q2 of 2023?","gold_answer":"Following debt securities registered under 3M's name are listed to trade on the New York Stock Exchange:\n-1.500% Notes due 2026 (Trading Symbol: MMM26)\n-1.750% Notes due 2030 (Trading Symbol: MMM30)\n-1.500% Notes due 2031 (Trading Symbol: MMM31)","model_answer":"As of my last update in early 2023, I do not have real-time access to current financial markets or specific company filings. To find out which debt securities are registered to trade on a national securities exchange under 3M's name as of Q2 of 2023, you would need to check the most recent financial disclosures from 3M, such as their 10-K or 10-Q filings with the U.S. Securities and Exchange Commission (SEC), or visit their investor relations website for the latest information.\n\nAdditionally, you can look up 3M's current bond listings on financial information websites or through a national securities exchange where the bonds are listed, such as the New York Stock Exchange (NYSE) or NASDAQ, if applicable. Financial news platforms and investment research tools may also provide up-to-date information on 3M's debt securities.","label":"Refusal"}
{"financebench_id":"financebench_id_07966","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2017 - FY2019 3 year average of capex as a % of revenue for Activision Blizzard? Answer in units of percents and round to one decimal place. Calculate (or extract) the answer from the statement of income and the cash flow statement.","gold_answer":0.019,"model_answer":"To calculate the 3-year average of capital expenditures (CapEx) as a percentage of revenue for Activision Blizzard for the fiscal years 2017, 2018, and 2019, we would need to have the actual numbers from the company's financial statements for those years. Specifically, we would need the total revenue and capital expenditures from the income statement and the cash flow statement, respectively.\n\nThe formula to calculate CapEx as a percentage of revenue for each year is:\n\nCapEx as % of Revenue = (CapEx \/ Revenue) * 100\n\nOnce we have this percentage for each of the three years, we can calculate the average as follows:\n\n3-Year Average CapEx as % of Revenue = (CapEx as % of Revenue in 2017 + CapEx as % of Revenue in 2018 + CapEx as % of Revenue in 2019) \/ 3\n\nSince I don't have access to real-time or updated databases, I cannot provide the actual numbers. However, you can find these numbers in Activision Blizzard's annual reports (Form 10-K) for the years 2017, 2018, and 2019. These reports are publicly available on the company's investor relations website or on the SEC's EDGAR database.\n\nOnce you have the numbers, you can perform the calculations as described above and round the final average to one decimal place to get the 3-year average of CapEx as a percentage of revenue for Activision Blizzard.","label":"Refusal"}
{"financebench_id":"financebench_id_02987","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2019 fixed asset turnover ratio for Activision Blizzard? Fixed asset turnover ratio is defined as: FY2019 revenue \/ (average PP&E between FY2018 and FY2019). Round your answer to two decimal places. Base your judgments on the information provided primarily in the statement of income and the statement of financial position.","gold_answer":24.26,"model_answer":"To calculate the fixed asset turnover ratio for Activision Blizzard for the fiscal year 2019, we need two pieces of information:\n\n1. The revenue for FY2019.\n2. The average property, plant, and equipment (PP&E) for FY2018 and FY2019.\n\nThis information is typically found in the company's financial statements, specifically the income statement for the revenue, and the balance sheet for the PP&E.\n\nSince I don't have access to real-time data or databases, I can't provide the actual numbers for Activision Blizzard's FY2019. However, I can guide you on how to calculate the ratio if you have the financial statements:\n\n1. Locate the revenue for FY2019 on the income statement.\n2. Find the PP&E values for the end of FY2018 and FY2019 on the balance sheet.\n3. Calculate the average PP&E by adding the value at the end of FY2018 to the value at the end of FY2019 and then dividing by 2.\n4. Divide the FY2019 revenue by the average PP&E to get the fixed asset turnover ratio.\n\nThe formula would look like this:\n\nFixed Asset Turnover Ratio = FY2019 Revenue \/ ((PP&E at end of FY2018 + PP&E at end of FY2019) \/ 2)\n\nOnce you have the numbers, you can plug them into the formula and round the result to two decimal places.\n\nIf you can provide the specific numbers from Activision Blizzard's financial statements, I can help you calculate the ratio.","label":"Refusal"}
{"financebench_id":"financebench_id_04735","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"You are an investment banker and your only resource(s) to answer the following question is (are): the statement of financial position and the cash flow statement. Here's the question: what is the FY2015 operating cash flow ratio for Adobe? Operating cash flow ratio is defined as: cash from operations \/ total current liabilities. Round your answer to two decimal places.","gold_answer":0.66,"model_answer":"As an AI developed by OpenAI, I don't have access to real-time or historical financial data unless it has been provided within the context of the question. To calculate the FY2015 operating cash flow ratio for Adobe, you would need the cash flow from operations and the total current liabilities from Adobe's financial statements for the fiscal year 2015.\n\nThe formula for the operating cash flow ratio is:\n\nOperating Cash Flow Ratio = Cash from Operations \/ Total Current Liabilities\n\nIf you provide the necessary figures from Adobe's statement of financial position (balance sheet) and the cash flow statement for FY2015, I can help you calculate the ratio. Otherwise, you would need to look up Adobe's FY2015 financial statements to find the required numbers. Once you have the cash flow from operations and the total current liabilities, you can use the formula to calculate the ratio and round it to two decimal places.","label":"Refusal"}
{"financebench_id":"financebench_id_07507","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is Adobe's year-over-year change in unadjusted operating income from FY2015 to FY2016 (in units of percents and round to one decimal place)? Give a solution to the question by using the income statement.","gold_answer":0.654,"model_answer":"To answer this question, you would need to have access to Adobe's income statements for the fiscal years 2015 and 2016. The income statement, also known as the statement of operations, would list the operating income for each year. The year-over-year change in unadjusted operating income is calculated by taking the difference between the operating income of the two years, dividing by the operating income of the first year (FY2015 in this case), and then multiplying by 100 to get a percentage.\n\nThe formula to calculate the year-over-year change in percentage is:\n\n\\[ \\text{Year-over-Year Change (\\%)} = \\left( \\frac{\\text{Operating Income}_{\\text{FY2016}} - \\text{Operating Income}_{\\text{FY2015}}}{\\text{Operating Income}_{\\text{FY2015}}} \\right) \\times 100 \\]\n\nHowever, since I don't have access to Adobe's actual financial data, I cannot provide the specific percentage change. To find this information, you would need to look up Adobe's financial statements for FY2015 and FY2016. These are typically available in the company's annual report or on their investor relations website.\n\nOnce you have the operating income figures for both years, you can plug them into the formula above and calculate the year-over-year change, rounding to one decimal place as requested.","label":"Refusal"}
{"financebench_id":"financebench_id_03856","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2017 operating cash flow ratio for Adobe? Operating cash flow ratio is defined as: cash from operations \/ total current liabilities. Round your answer to two decimal places. Please utilize information provided primarily within the balance sheet and the cash flow statement.","gold_answer":0.83,"model_answer":"To calculate the FY2017 operating cash flow ratio for Adobe, we would need the company's financial statements for the fiscal year 2017, specifically the cash flow statement and the balance sheet. The cash flow statement would provide the \"cash from operations\" figure, and the balance sheet would provide the \"total current liabilities\" figure.\n\nSince I cannot access real-time or updated databases, I cannot provide the actual figures for Adobe's FY2017. However, I can guide you on how to calculate the ratio if you have access to Adobe's FY2017 financial statements.\n\nHere's how you would calculate the operating cash flow ratio:\n\n1. Locate the \"Net cash provided by operating activities\" on the cash flow statement for FY2017.\n2. Find the \"Total Current Liabilities\" on the balance sheet as of the end of FY2017.\n3. Use the formula: Operating Cash Flow Ratio = Cash from Operations \/ Total Current Liabilities.\n4. Divide the cash from operations by the total current liabilities to get the ratio.\n5. Round your answer to two decimal places.\n\nFor example, if Adobe's cash from operations was $3,000 million and its total current liabilities were $2,000 million, the calculation would be:\n\nOperating Cash Flow Ratio = $3,000 million \/ $2,000 million = 1.5\n\nAfter rounding to two decimal places, the operating cash flow ratio would be 1.50.\n\nTo get the actual figures for Adobe's FY2017, you would need to look at the company's 2017 annual report or 10-K filing, which are publicly available on Adobe's investor relations website or the SEC's EDGAR database. Once you have the actual numbers, you can perform the calculation as described above.","label":"Refusal"}
{"financebench_id":"financebench_id_00438","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Does Adobe have an improving operating margin profile as of FY2022? If operating margin is not a useful metric for a company like this, then state that and explain why.","gold_answer":"No the operating margins of Adobe have recently declined from 36.8% in FY 2021 to 34.6% in FY2022. A drop by 2.2% in a year.","model_answer":"As of my last update in early 2023, I do not have access to real-time financial data or the latest financial statements for Adobe or any other company. To determine whether Adobe has an improving operating margin profile for the fiscal year 2022, you would need to review the company's financial statements, specifically the income statement, which is typically found in their annual report or Form 10-K filed with the U.S. Securities and Exchange Commission (SEC).\n\nOperating margin is a measure of profitability that shows what percentage of a company's revenue is left over after paying for variable costs of production such as wages and raw materials. It is calculated by dividing operating income by net sales or revenue. An improving operating margin indicates that a company is earning more per dollar of sales, which is generally a positive sign of efficiency and control over costs.\n\nFor a company like Adobe, which operates in the software and digital media industry, operating margin can be a useful metric. This is because Adobe's business model involves significant upfront investment in software development, followed by potentially high margins on software sales and subscriptions, as the cost to distribute digital products is relatively low compared to physical goods.\n\nHowever, it's important to note that operating margin should not be looked at in isolation. It is one of many financial metrics that can be used to assess a company's financial health. Other factors such as revenue growth, net income, cash flow, and balance sheet strength are also important. Additionally, industry context, competitive dynamics, and broader economic conditions can all impact the interpretation of operating margins.\n\nTo get the most accurate and up-to-date information on Adobe's operating margin profile for FY2022, you should refer to the latest financial reports published by Adobe or financial analysis from credible sources. If you have access to Adobe's financial statements, you can calculate the operating margin yourself by taking the operating income (or operating profit) and dividing it by the net sales or revenue for the fiscal year 2022. Comparing this figure to previous years will give you an indication of whether the operating margin is improving.","label":"Refusal"}
{"financebench_id":"financebench_id_00591","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Does Adobe have an improving Free cashflow conversion as of FY2022?","gold_answer":"Yes, the FCF conversion (using net income as the denominator) for Adobe has improved by ~13% from 143% in 2021 to 156% in 2022","model_answer":"As of my last update in early 2023, I do not have access to real-time financial data or the latest financial statements from Adobe or any other company. To determine whether Adobe has an improving free cash flow conversion as of FY2022, you would need to review Adobe's most recent annual report or Form 10-K, which includes the company's financial statements and notes.\n\nFree cash flow (FCF) conversion is a measure of how well a company turns its net income into free cash flow, which is the cash that a company generates after accounting for cash outflows to support operations and maintain its capital assets. An improving free cash flow conversion would indicate that the company is becoming more efficient at converting its profits into free cash flow.\n\nTo assess this, you would typically compare the free cash flow figures with the net income over the same period and see if the conversion rate has improved year over year. This information can be found in the cash flow statement and the income statement, respectively.\n\nFor the most accurate and up-to-date information, please refer to Adobe's official investor relations website or financial reporting platforms that provide the latest financial data.","label":"Refusal"}
{"financebench_id":"financebench_id_10420","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Based on the information provided primarily in the statement of financial position and the statement of income, what is AES's FY2022 return on assets (ROA)? ROA is defined as: FY2022 net income \/ (average total assets between FY2021 and FY2022). Round your answer to two decimal places.","gold_answer":-0.02,"model_answer":"To calculate the Return on Assets (ROA) for AES for the fiscal year 2022, you would need the following pieces of information:\n\n1. FY2022 net income: This figure would be found on the statement of income (also known as the income statement or profit and loss statement) for the fiscal year 2022.\n\n2. Total assets at the end of FY2021 and FY2022: These figures would be found on the statement of financial position (also known as the balance sheet) for the respective years.\n\nThe formula for ROA is:\n\nROA = FY2022 Net Income \/ Average Total Assets between FY2021 and FY2022\n\nThe average total assets between FY2021 and FY2022 is calculated as:\n\n(Average Total Assets) = (Total Assets at the end of FY2021 + Total Assets at the end of FY2022) \/ 2\n\nSince you have not provided the actual figures for net income or total assets, I cannot calculate the exact ROA for you. However, once you have these figures, you can use the formula above to calculate the ROA. Here's how you would do it:\n\n1. Obtain the net income for FY2022 from the statement of income.\n2. Obtain the total assets for the end of FY2021 and FY2022 from the statement of financial position.\n3. Calculate the average total assets using the sum of the total assets for both years divided by 2.\n4. Divide the net income by the average total assets to get the ROA.\n5. Round the result to two decimal places.\n\nFor example, if the net income for FY2022 is $1,000,000 and the total assets at the end of FY2021 are $5,000,000 and at the end of FY2022 are $6,000,000, the calculation would be:\n\n(Average Total Assets) = ($5,000,000 + $6,000,000) \/ 2 = $5,500,000\n\nROA = $1,000,000 \/ $5,500,000 = 0.1818 or 18.18% when rounded to two decimal places.\n\nPlease provide the actual figures if you would like a specific calculation.","label":"Refusal"}
{"financebench_id":"financebench_id_00540","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Roughly how many times has AES Corporation sold its inventory in FY2022? Calculate inventory turnover ratio for the FY2022; if conventional inventory management is not meaningful for the company then state that and explain why.","gold_answer":"AES has converted inventory 9.5 times in FY 2022.","model_answer":"The AES Corporation is a global power company that provides affordable, sustainable energy through its diverse portfolio of thermal and renewable generation facilities as well as distribution businesses. Given the nature of its business, AES typically does not have a significant amount of traditional inventory like a manufacturing or retail company would. Instead, its \"inventory\" might consist of fuel stocks such as coal, oil, or gas, which are used in the generation of electricity.\n\nThe inventory turnover ratio is a measure of how many times a company's inventory is sold and replaced over a period. It is calculated by dividing the cost of goods sold (COGS) by the average inventory during the period. However, for a power generation and utility company like AES, the concept of inventory turnover is not as meaningful as it would be for a company that deals with large amounts of physical goods.\n\nAES's primary business involves the generation and sale of energy, and while it may have some level of inventory in terms of fuel, the financial metrics more commonly analyzed for such a company would be related to capacity, generation efficiency, energy sales, and utility revenue. These metrics provide a better understanding of the company's operational performance and financial health.\n\nTo calculate the inventory turnover ratio for a company where it is meaningful, you would need the following information from the company's financial statements:\n\n1. Cost of Goods Sold (COGS) for the fiscal year 2022.\n2. Inventory at the beginning of the fiscal year 2022.\n3. Inventory at the end of the fiscal year 2022.\n\nThe average inventory is typically calculated as (Beginning Inventory + Ending Inventory) \/ 2. Then, the inventory turnover ratio is calculated as COGS \/ Average Inventory.\n\nSince AES is not a typical inventory-based company, and without specific financial data from AES's fiscal year 2022, it is not possible to provide an accurate inventory turnover ratio. If you have access to AES's financial statements for FY2022 and they do report inventory and COGS, you could perform the calculation. Otherwise, it's important to focus on more relevant financial metrics for the company's industry and business model.","label":"Refusal"}
{"financebench_id":"financebench_id_01319","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the quantity of restructuring costs directly outlined in AES Corporation's income statements for FY2022? If restructuring costs are not explicitly outlined then state 0.","gold_answer":0,"model_answer":"As of my last update in April 2023, I do not have access to real-time databases or the ability to fetch live data, including the most recent financial statements from companies like AES Corporation. To find the quantity of restructuring costs directly outlined in AES Corporation's income statements for FY2022, you would need to look at the company's most recent annual report or Form 10-K filing with the Securities and Exchange Commission (SEC), which typically includes detailed financial statements.\n\nYou can find this information by:\n\n1. Visiting the AES Corporation's investor relations website.\n2. Searching the SEC's EDGAR database for AES Corporation's 2022 Form 10-K filing.\n3. Checking financial data platforms or services that provide company financials.\n\nOnce you have the document, you can review the income statement and notes to the financial statements for any mention of restructuring costs. If restructuring costs are not explicitly outlined, then the answer would be 0.","label":"Refusal"}
{"financebench_id":"financebench_id_08135","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is Amazon's year-over-year change in revenue from FY2016 to FY2017 (in units of percents and round to one decimal place)? Calculate what was asked by utilizing the line items clearly shown in the statement of income.","gold_answer":0.308,"model_answer":"To calculate the year-over-year change in revenue for Amazon from FY2016 to FY2017, you would need the specific revenue figures for both years. Since I don't have access to real-time data or databases, I can't provide the current figures. However, I can show you how to calculate the percentage change once you have the revenue numbers.\n\nHere's the formula to calculate the year-over-year percentage change in revenue:\n\nPercentage Change = [(Revenue in FY2017 - Revenue in FY2016) \/ Revenue in FY2016] * 100\n\nOnce you have the revenue figures for both years, you can plug them into the formula. For example, if Amazon's revenue in FY2016 was $X and in FY2017 was $Y, the calculation would be:\n\nPercentage Change = [(Y - X) \/ X] * 100\n\nRound the result to one decimal place to get the final answer.\n\nIf you can provide the revenue figures for FY2016 and FY2017, I can perform the calculation for you.","label":"Refusal"}
{"financebench_id":"financebench_id_06655","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is Amazon's FY2017 days payable outstanding (DPO)? DPO is defined as: 365 * (average accounts payable between FY2016 and FY2017) \/ (FY2017 COGS + change in inventory between FY2016 and FY2017). Round your answer to two decimal places. Address the question by using the line items and information shown within the balance sheet and the P&L statement.","gold_answer":93.86,"model_answer":"To calculate Amazon's FY2017 Days Payable Outstanding (DPO), we need the following information from the company's financial statements:\n\n1. Average accounts payable for FY2016 and FY2017.\n2. Cost of Goods Sold (COGS) for FY2017.\n3. Change in inventory between FY2016 and FY2017.\n\nHowever, as I cannot access real-time or historical data, I will need the actual figures from Amazon's financial statements to perform the calculation. If you can provide the necessary numbers from Amazon's balance sheet and income statement for FY2016 and FY2017, I can then calculate the DPO for you.\n\nPlease provide the following data:\n- Accounts payable for FY2016 and FY2017.\n- COGS for FY2017.\n- Inventory for FY2016 and FY2017.\n\nOnce you provide these figures, I can proceed with the calculation.","label":"Refusal"}
{"financebench_id":"financebench_id_08286","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"By drawing conclusions from the information stated only in the income statement, what is Amazon's FY2019 net income attributable to shareholders (in USD millions)?","gold_answer":11588,"model_answer":"I'm sorry, but as an AI, I don't have real-time access to external databases or the ability to pull up specific documents such as Amazon's financial statements. To find Amazon's FY2019 net income attributable to shareholders, you would need to look at the company's income statement for the fiscal year 2019. This information is typically found in Amazon's annual report or Form 10-K filed with the Securities and Exchange Commission (SEC).\n\nOnce you have the income statement, you can find the net income figure at the bottom of the statement. This figure represents the profit attributable to Amazon shareholders after all expenses, taxes, and interest have been deducted from total revenue.\n\nIf you have access to Amazon's FY2019 income statement, you can directly locate the net income figure reported for that fiscal year. If you provide me with the net income figure from the income statement, I can confirm the amount you're referring to. Otherwise, you can find this information by searching for Amazon's 2019 annual report or 10-K filing online.","label":"Refusal"}
{"financebench_id":"financebench_id_03882","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is Amcor's year end FY2020 net AR (in USD millions)? Address the question by adopting the perspective of a financial analyst who can only use the details shown within the balance sheet.","gold_answer":1616,"model_answer":"As a financial analyst, to determine Amcor's year-end FY2020 net accounts receivable (AR), I would need to look at the company's balance sheet for the fiscal year ending in 2020. However, since I do not have access to real-time data or databases, I cannot provide the exact figure from the actual balance sheet.\n\nTypically, the net accounts receivable would be listed under the current assets section of the balance sheet. It represents the total amount of money owed to the company by its customers for goods or services delivered, minus any allowance for doubtful accounts (which accounts for potential credit losses).\n\nTo find the net accounts receivable, you would look for a line item that might be labeled as \"Accounts Receivable, net\" or \"Trade and other receivables, net.\" This line item would already have any allowances for doubtful accounts subtracted from the gross accounts receivable.\n\nIf you have access to Amcor's FY2020 balance sheet, you would locate the \"Accounts Receivable, net\" line item to find the figure in USD millions. If the balance sheet is not in USD, you would need to convert the currency to USD using the appropriate exchange rate as of the balance sheet date.\n\nSince I cannot provide the actual figure without the balance sheet, I recommend obtaining Amcor's FY2020 financial statements, which are typically available on the company's investor relations website or through financial databases and regulatory filings. Once you have the balance sheet, you can directly read the net accounts receivable figure.","label":"Refusal"}
{"financebench_id":"financebench_id_01935","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What was the key agenda of the AMCOR's 8k filing dated 1st July 2022?","gold_answer":"Amcor Finance (USA), Inc. and Amcor Flexibles North America, Inc., entered into supplemental indentures relating to Guaranteed Senior Notes due 2026 and 2028. This involved the substitution of the Substitute Issuer (Amcor Flexibles North America) for the Former Issuer (Amcor Finance) and the assumption of covenants under the indentures. (In essence a novation agreement)","model_answer":"As an AI, I don't have direct access to real-time databases or documents such as SEC filings, including AMCOR's 8-K filing from July 1, 2022. To find out the key agenda of that specific filing, you would need to access the document directly through the Securities and Exchange Commission's EDGAR database or through AMCOR's investor relations website.\n\nTypically, an 8-K filing is used by publicly traded companies to disclose material events that shareholders should know about. These events could include acquisitions, changes in control or management, financial results, or other significant occurrences that could affect the company's operations or stock price.\n\nTo get the information you're looking for, you should:\n\n1. Visit the SEC's EDGAR database at https:\/\/www.sec.gov\/edgar.shtml.\n2. Search for AMCOR by entering their name or ticker symbol in the search box.\n3. Locate the 8-K filing dated July 1, 2022, and review the document for the key agenda items.\n\nAlternatively, you can visit AMCOR's investor relations page on their official website, where they may have the filing available for review.","label":"Refusal"}
{"financebench_id":"financebench_id_01936","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the nature & purpose of AMCOR's restructuring liability as oF Q2 of FY2023 close?","gold_answer":"87% of the total restructuring liability is related Employee liabilities.","model_answer":"As of my last update in early 2023, I do not have real-time access to financial data or specific company reports, including the latest details on Amcor's financials or any restructuring liabilities they may have reported for Q2 of FY2023. \n\nHowever, in general, a restructuring liability refers to costs that a company expects to incur as a result of restructuring activities. These activities can include things like closing facilities, laying off employees, or other actions aimed at making the company more efficient and reducing costs. The purpose of recognizing a restructuring liability is to reflect the financial impact of these decisions in the company's financial statements.\n\nTo find out the specific nature and purpose of Amcor's restructuring liability as of Q2 of FY2023, you would need to review their most recent financial statements, notes to the financial statements, and management discussion and analysis (MD&A) section of their quarterly report. These documents can typically be found on the company's investor relations website or through financial information databases and regulatory filings.","label":"Refusal"}
{"financebench_id":"financebench_id_01930","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"How much was the Real change in Sales for AMCOR in FY 2023 vs FY 2022, if we exclude the impact of FX movement, passthrough costs and one-off items?","gold_answer":"The Real Growth was flat in FY 2023 vs FY 2022.","model_answer":"I'm sorry, but as an AI developed by OpenAI, I don't have access to real-time data or company-specific financial results beyond my last knowledge update in April 2023. To determine the real change in sales for Amcor in FY 2023 vs. FY 2022, excluding the impact of foreign exchange (FX) movements, passthrough costs, and one-off items, you would need to refer to Amcor's financial statements or earnings reports for those fiscal years.\n\nTypically, companies provide this information in their annual reports or earnings releases, often in the form of adjusted financial metrics or non-GAAP measures that exclude certain items to provide a clearer picture of underlying business performance. You can usually find these documents on the company's investor relations website or through financial news and data platforms.\n\nTo calculate the real change in sales, you would:\n\n1. Obtain the reported sales figures for FY 2023 and FY 2022 from Amcor's financial statements.\n2. Adjust these figures to exclude the impact of FX movements, passthrough costs, and one-off items, as detailed in the company's financial disclosures.\n3. Compare the adjusted sales figures for FY 2023 to those for FY 2022 to determine the real change in sales.\n\nIf you need the most current and specific financial data for Amcor, please consult the latest financial reports or reach out to the company's investor relations department directly.","label":"Refusal"}
{"financebench_id":"financebench_id_01928","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What Was AMCOR's Adjusted Non GAAP EBITDA for FY 2023","gold_answer":"AMCOR's Adj. EBITDA was $2,018mn in FY 2023","model_answer":"As of my last update, I do not have access to real-time data or financial reports released after my knowledge cutoff date. To find Amcor's adjusted non-GAAP EBITDA for the fiscal year 2023, you would need to look at the company's financial statements or earnings releases for that period.\n\nAmcor typically publishes its financial results in its annual report and on its investor relations website. You can check these sources or financial news outlets for the most up-to-date information on Amcor's financial performance, including its adjusted non-GAAP EBITDA for FY 2023.","label":"Refusal"}
{"financebench_id":"financebench_id_00799","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Has AMCOR's quick ratio improved or declined between FY2023 and FY2022? If the quick ratio is not something that a financial analyst would ask about a company like this, then state that and explain why.","gold_answer":"The quick ratio has slightly improved from 0.67 times to 0.69 times between FY 2023 and FY 2022.(3.4% jump)","model_answer":"As an AI, I don't have real-time access to financial data, and my knowledge is up to date only until early 2023. Therefore, I cannot provide the current quick ratio for Amcor or compare it to previous fiscal years.\n\nHowever, to address the second part of your question, the quick ratio is indeed a metric that a financial analyst might inquire about for a company like Amcor. The quick ratio, also known as the acid-test ratio, is a measure of a company's short-term liquidity, indicating its ability to meet its short-term obligations with its most liquid assets. It is calculated by taking the sum of cash, marketable securities, and accounts receivable and dividing it by current liabilities.\n\nThis ratio is relevant for any company, including those in the packaging industry like Amcor, as it provides insight into the company's financial health and its ability to quickly convert assets into cash to cover short-term debts. A higher quick ratio suggests a better position to cover immediate liabilities, while a lower ratio may indicate potential liquidity issues.\n\nTo find out whether Amcor's quick ratio has improved or declined between FY2023 and FY2022, you would need to look at the company's financial statements for those years, specifically the balance sheet and notes to the accounts, which provide details on current assets and current liabilities. Then you could calculate the quick ratio for each year and compare the figures. If you have access to financial databases or Amcor's investor relations website, you could obtain the necessary financial reports to perform this analysis.","label":"Refusal"}
{"financebench_id":"financebench_id_01079","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What are major acquisitions that AMCOR has done in FY2023, FY2022 and FY2021?","gold_answer":"Amcor completed these acquisitions during FY2023:\n-100% equity interest of a flexibles manufacturing company in the Czech Republic\n- 100% equity interest in a medical device packaging manufacturing site in\nShanghai, China.\n-acquisition of a New Zealand-based leading manufacturer of state-of-the-art, automated protein\npackaging machines.","model_answer":"As of my last update in early 2023, I do not have real-time access to current events or databases that would provide the latest information on Amcor's acquisitions in fiscal years 2021, 2022, and 2023. Amcor, a global packaging company, has been known for its strategic acquisitions to expand its market presence and capabilities.\n\nFor the most accurate and up-to-date information on Amcor's acquisitions during these fiscal years, I recommend checking the latest press releases on Amcor's official website, reviewing their annual reports, or consulting financial news outlets and databases that track corporate mergers and acquisitions. These sources would provide detailed information on any significant transactions that Amcor has undertaken in the specified timeframe.","label":"Refusal"}
{"financebench_id":"financebench_id_00684","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Does AMCOR have an improving gross margin profile as of FY2023? If gross margin is not a useful metric for a company like this, then state that and explain why.","gold_answer":"No. For AMCOR there has been a slight decline in gross margins by 0.8%.","model_answer":"As of my last update in early 2023, I do not have access to real-time financial data or the latest financial statements for Amcor or any other company. To determine whether Amcor has an improving gross margin profile as of FY2023, you would need to review the most recent financial reports and statements released by the company.\n\nAmcor is a global packaging company specializing in the production of flexible packaging, rigid containers, specialty cartons, closures, and services for food, beverage, pharmaceutical, medical-device, home, and personal-care, and other products. Gross margin can be a useful metric for a company like Amcor as it indicates the percentage of revenue that exceeds the cost of goods sold (COGS) and reflects the efficiency of the company in managing its production costs relative to its sales.\n\nTo assess the gross margin profile, you would typically look at the company's income statement, where you can find the gross profit (revenue minus COGS) and calculate the gross margin percentage (gross profit divided by revenue). An improving gross margin profile would be indicated by a higher percentage over time, suggesting that the company is becoming more efficient in its production processes or is able to pass on higher costs to customers through pricing.\n\nHowever, it's important to note that gross margin can be influenced by various factors, including changes in raw material costs, product mix, production efficiency, and pricing strategies. Therefore, when evaluating Amcor's financial health, it's also important to consider other financial metrics and the context of the broader industry and economic environment.\n\nFor the most accurate and up-to-date information on Amcor's gross margin profile, you should refer to the latest financial disclosures from the company, which are typically available on their investor relations website or through financial data providers. Additionally, financial analysts and news outlets may provide analysis and commentary on the company's performance, including changes in gross margin.","label":"Refusal"}
{"financebench_id":"financebench_id_03069","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Answer the following question as if you are an equity research analyst and have lost internet connection so you do not have access to financial metric providers. According to the details clearly outlined within the P&L statement and the statement of cash flows, what is the FY2015 depreciation and amortization (D&A from cash flow statement) % margin for AMD?","gold_answer":0.042,"model_answer":"As an AI developed by OpenAI, I don't have access to real-time or historical data, including financial statements of companies such as AMD (Advanced Micro Devices). To calculate the depreciation and amortization (D&A) percentage margin for AMD for the fiscal year 2015, you would typically follow these steps:\n\n1. Locate the total revenue and the D&A expense on the income statement (P&L statement) for FY2015.\n2. Calculate the D&A margin by dividing the D&A expense by the total revenue.\n3. Express the result as a percentage.\n\nThe formula would look like this:\n\nD&A Margin % = (D&A Expense \/ Total Revenue) x 100\n\nHowever, without access to the internet or a database, I cannot provide the actual numbers for AMD's FY2015 D&A expense or total revenue. If you have the P&L statement and the statement of cash flows for AMD for FY2015, you can find the necessary figures there and apply the formula above to calculate the D&A percentage margin.","label":"Refusal"}
{"financebench_id":"financebench_id_00757","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Did AMD report customer concentration in FY22?","gold_answer":"Yes, one customer accounted for 16% of consolidated net revenue","model_answer":"As of my last update in early 2023, I do not have access to real-time data or reports released after that time. To find out if AMD reported customer concentration in their fiscal year 2022, you would need to check the most recent annual report (Form 10-K) or financial statements released by AMD for that fiscal year. These documents typically include details about revenue concentration from major customers if such concentration is significant and meets the reporting thresholds set by regulatory bodies like the Securities and Exchange Commission (SEC).\n\nTo get this information, you can visit AMD's investor relations website or search for AMD's filings on the SEC's EDGAR database. Look for the section that discusses revenue recognition or notes to the financial statements that pertain to significant customers and concentration risk. If AMD has any customers that represent a significant portion of their revenue, it would be disclosed in these sections.","label":"Refusal"}
{"financebench_id":"financebench_id_01279","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Among operations, investing, and financing activities, which brought in the most (or lost the least) cash flow for AMD in FY22?","gold_answer":"In 2022, AMD brought in the most cashflow from Operations","model_answer":"As of my last update in early 2023, I do not have access to real-time data or financial statements released after that time. To determine which activity\u2014operations, investing, or financing\u2014brought in the most or lost the least cash flow for AMD (Advanced Micro Devices) in the fiscal year 2022, you would need to review AMD's 2022 annual report or Form 10-K, specifically the Consolidated Statements of Cash Flows.\n\nThe statement of cash flows is divided into three sections:\n\n1. Cash flows from operating activities: This section reflects the cash generated or used by the company's core business operations.\n\n2. Cash flows from investing activities: This section shows the cash used for or generated from investments, such as the purchase or sale of property, plant, and equipment, or investments in securities.\n\n3. Cash flows from financing activities: This section details the cash flows related to financing activities, such as issuing or repaying debt, issuing or buying back shares, and paying dividends.\n\nTo find the most current information, you should visit AMD's investor relations website or access financial databases that provide company financials. Once you have the cash flow statement for FY22, you can compare the net cash provided by or used in each of the three activities to determine which had the most positive or least negative impact on AMD's cash flow for that year.","label":"Refusal"}
{"financebench_id":"financebench_id_00563","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"From FY21 to FY22, excluding Embedded, in which AMD reporting segment did sales proportionally increase the most?","gold_answer":"Data Center","model_answer":"As of my last update in early 2023, I do not have access to real-time data or the ability to fetch the latest financial reports from AMD or any other company. To determine which AMD reporting segment, excluding Embedded, had the most proportional increase in sales from FY21 to FY22, you would need to look at AMD's financial reports for those fiscal years.\n\nAMD typically segments its business into several categories, such as Computing and Graphics, Enterprise, Embedded and Semi-Custom, and others depending on their current business structure. To find the information you're looking for, you would need to:\n\n1. Access AMD's annual reports or quarterly earnings reports for FY21 and FY22.\n2. Compare the revenue figures for each segment (excluding Embedded) for both years.\n3. Calculate the percentage increase in sales for each segment.\n4. Determine which segment had the highest proportional increase.\n\nYou can usually find these reports on AMD's investor relations website or through financial data platforms and services. If you're looking for the most current data, please refer to the latest available reports or financial news updates.","label":"Refusal"}
{"financebench_id":"financebench_id_00222","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Does AMD have a reasonably healthy liquidity profile based on its quick ratio for FY22? If the quick ratio is not relevant to measure liquidity, please state that and explain why.","gold_answer":"Yes. The quick ratio is 1.57, calculated as (cash and cash equivalents+Short term investments+Accounts receivable, net+receivables from related parties)\/ (current liabilities).","model_answer":"As of my last update, I do not have access to real-time financial data, including AMD's financial statements for FY22. To determine whether AMD has a reasonably healthy liquidity profile based on its quick ratio for FY22, you would need to look at the company's most recent financial statements, which are typically available on their investor relations website or through financial data providers.\n\nThe quick ratio, also known as the acid-test ratio, is a measure of a company's short-term liquidity and its ability to meet its short-term obligations with its most liquid assets. It is calculated by taking the sum of a company's cash, marketable securities, and accounts receivable, and dividing that by its current liabilities. A quick ratio of 1 or higher is generally considered satisfactory as it indicates that the company has enough liquid assets to cover its current liabilities.\n\nTo calculate AMD's quick ratio for FY22, you would use the following formula:\n\nQuick Ratio = (Cash + Marketable Securities + Accounts Receivable) \/ Current Liabilities\n\nYou would find these figures on AMD's balance sheet. If the quick ratio is significantly above 1, it suggests that AMD has a healthy liquidity profile. If it is below 1, it may indicate potential liquidity issues, although this can vary by industry and company circumstances.\n\nIf the quick ratio is not relevant for assessing AMD's liquidity, it could be due to several reasons:\n\n1. Industry-Specific Factors: Some industries have different standards for liquidity ratios. For example, industries with higher inventory turnover might not rely as heavily on the quick ratio.\n\n2. Company-Specific Factors: If AMD has a stable cash flow from operations that can comfortably cover its short-term obligations, the quick ratio might be less relevant.\n\n3. Alternative Measures: Other liquidity measures, such as the current ratio (which includes inventory in the calculation), cash ratio, or operating cash flow ratio, might provide a more accurate picture of AMD's liquidity, depending on the company's business model and industry practices.\n\n4. Access to Financing: If AMD has easy access to credit or other forms of financing, it might operate with a lower quick ratio without facing liquidity issues.\n\nTo get the most accurate and up-to-date information on AMD's liquidity profile, you should refer to the latest financial reports and possibly consult with a financial analyst or use financial analysis platforms that provide real-time data and ratios.","label":"Refusal"}
{"financebench_id":"financebench_id_01964","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What was the largest liability in American Express's Balance Sheet in 2022?","gold_answer":"Customer deposits","model_answer":"As of my last update, I do not have access to real-time or the most recent financial data, including American Express's balance sheet for 2022. To find the largest liability on American Express's balance sheet for the year 2022, you would need to look at their annual report or 10-K filing for that year, which is typically published on their investor relations website or available through the U.S. Securities and Exchange Commission's EDGAR database.\n\nIn general, for a financial services company like American Express, common large liabilities might include customer deposits, long-term debt, and other borrowings. However, to get the specific figure for 2022, you would need to consult the actual financial documents released by the company for that year.","label":"Refusal"}
{"financebench_id":"financebench_id_01981","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Was American Express able to retain card members during 2022?","gold_answer":"Yes","model_answer":"As of my last update in early 2023, American Express had generally been successful in retaining card members throughout 2022. The company's strategies for customer retention and engagement, such as offering tailored rewards, enhancing digital features, and providing exclusive access to events and experiences, appeared to be effective.\n\nAmerican Express often reports on its performance in quarterly earnings reports, which include metrics such as card member spending, the number of cards in force, and revenue growth. These reports in 2022 indicated that the company was not only retaining customers but also experiencing growth in these areas.\n\nHowever, for the most current and detailed information on American Express's performance in retaining card members during 2022, you should refer to the company's official financial disclosures and earnings reports from that year.","label":"Refusal"}
{"financebench_id":"financebench_id_00720","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What drove gross margin change as of the FY2022 for American Express? If gross margin is not a useful metric for a company like this, then please state that and explain why.","gold_answer":"Performance is not measured through gross margin","model_answer":"Gross margin is typically a metric used for manufacturing or product-based companies to indicate the percentage of revenue that exceeds the cost of goods sold (COGS). It measures how efficiently a company uses labor and supplies in the production process and is calculated by subtracting COGS from revenue and dividing that number by revenue.\n\nAmerican Express is a financial services company, and for such companies, gross margin is not a commonly used metric. Instead, financial services firms focus on other financial measures such as net interest margin, return on equity, return on assets, and various efficiency ratios.\n\nFor American Express, which primarily earns revenue through discount revenue (fees charged to merchants for accepting their cards), interest on outstanding credit balances, and card fees, the equivalent to \"gross margin\" would be more akin to their net interest yield or the spread between the interest they earn on credit balances and the interest they pay on their funding sources. Additionally, they would look at operating margins, which consider operating expenses such as wages, marketing, and technology costs.\n\nTo understand what drove changes in profitability for American Express in FY2022, one would need to look at their financial statements and consider factors such as:\n\n1. Changes in spending volumes by cardholders.\n2. Changes in the average discount rate (fees charged to merchants).\n3. The interest rates on credit card balances and how they compare to funding costs.\n4. The level of delinquencies and charge-offs (which affect net interest income).\n5. Changes in operating expenses, such as marketing or administrative costs.\n6. Impact of regulatory changes or changes in the competitive landscape.\n7. Effects of macroeconomic factors, such as inflation or changes in consumer behavior.\n\nFor the most accurate and detailed explanation, it would be necessary to review American Express's annual report or earnings releases for FY2022, where management would discuss the factors that affected their financial performance during that period.","label":"Refusal"}
{"financebench_id":"financebench_id_00723","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Does AMEX have an improving operating margin profile as of 2022? If operating margin is not a useful metric for a company like this, then state that and explain why.","gold_answer":"Performance is not measured through operating margin","model_answer":"As of my knowledge cutoff date in early 2023, American Express (AMEX) had reported an improving operating margin profile for the fiscal year 2021, and this trend was expected to continue into 2022 based on the company's performance in the first three quarters of the year. However, to provide a definitive answer for the full year 2022, one would need to consult the company's financial statements for that year, which would include the fourth quarter results and any relevant commentary from the company's management.\n\nOperating margin is a useful metric for a company like American Express as it provides insight into the efficiency of the company's operations and its ability to convert revenue into operating profit. For a financial services company like AMEX, which primarily earns revenue through interest on loans, card fees, and transaction processing, operating margin can indicate how well the company is managing its expenses relative to its revenue.\n\nIt's important to note that while operating margin is a valuable metric, it should be considered alongside other financial indicators such as net profit margin, return on equity, and revenue growth to gain a comprehensive understanding of the company's financial health. Additionally, factors such as economic conditions, consumer spending habits, credit cycles, and regulatory changes can all impact AMEX's operating margin and overall financial performance.\n\nTo get the most current and accurate information on American Express's operating margin profile for 2022, you should look at the company's annual report or earnings releases for that year, which would provide the necessary details on their financial performance.","label":"Refusal"}
{"financebench_id":"financebench_id_00476","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Which debt securities are registered to trade on a national securities exchange under American Express' name as of 2022?","gold_answer":"There are none","model_answer":"As of my last update in early 2023, I do not have real-time access to current market data, including the specific debt securities registered to trade on a national securities exchange under the name of American Express. The details about such securities would typically be found in the company's filings with the Securities and Exchange Commission (SEC), such as the 10-K and 10-Q reports, or on the website of the exchange where the securities are listed.\n\nTo find the most up-to-date information on American Express' debt securities, you should check the latest SEC filings or the investor relations section of the American Express website. Additionally, financial news websites and databases that track bond market activity could also provide this information. If you require real-time data, you may need to consult a financial professional or use a financial information service that provides access to current securities listings.","label":"Refusal"}
{"financebench_id":"financebench_id_01351","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"How much has the effective tax rate of American Express changed between FY2021 and FY2022?","gold_answer":"The effective tax rate for American Express has changed\/dropped from 24.6% in FY 2021 to 21.6% in FY 2022.","model_answer":"As of my last update in early 2023, I do not have access to real-time data or updates beyond that point. To find the most current information on the effective tax rate of American Express between FY2021 and FY2022, you would need to look at their financial statements for those years.\n\nAmerican Express typically publishes its annual report and 10-K filings with the U.S. Securities and Exchange Commission (SEC), which include details on their effective tax rate. You can find these documents on the American Express investor relations website or through the SEC's EDGAR database.\n\nTo calculate the change in the effective tax rate, you would take the effective tax rate reported for FY2022 and subtract the effective tax rate reported for FY2021. The result would give you the change in the effective tax rate between the two fiscal years.","label":"Refusal"}
{"financebench_id":"financebench_id_05718","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"How much (in USD billions) did American Water Works pay out in cash dividends for FY2020? Compute or extract the answer by primarily using the details outlined in the statement of cash flows.","gold_answer":0.4,"model_answer":"To determine the cash dividends paid out by American Water Works for the fiscal year 2020, you would typically look at the company's statement of cash flows for that year. The statement of cash flows is divided into three sections: cash flows from operating activities, investing activities, and financing activities. Dividends paid are usually listed under the financing activities section.\n\nHowever, as I cannot access real-time or the most recent data, I cannot provide the exact figure from the statement of cash flows for American Water Works for FY2020. To find this information, you would need to access the company's annual report or Form 10-K for the year 2020, which is publicly available on the company's investor relations website or on the SEC's EDGAR database.\n\nOnce you have the statement of cash flows in front of you, look for a line item that says something like \"dividends paid\" or \"cash dividends paid\" in the financing activities section. The number next to this line item will tell you how much American Water Works paid out in cash dividends for FY2020 in USD billions.\n\nIf you have access to the statement of cash flows and can provide the relevant section, I can help you interpret the data. Otherwise, you will need to look up the actual report to find the exact figure.","label":"Refusal"}
{"financebench_id":"financebench_id_04254","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Basing your judgments off of the cash flow statement and the income statement, what is American Water Works's FY2021 unadjusted operating income + depreciation and amortization from the cash flow statement (unadjusted EBITDA) in USD millions?","gold_answer":1832,"model_answer":"I'm sorry, but as an AI developed by OpenAI, I don't have real-time access to financial databases or the ability to pull up-to-date financial statements for specific companies like American Water Works. To calculate the unadjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for American Water Works for FY2021, you would need to look at their income statement and cash flow statement for that fiscal year.\n\nHere's how you would typically calculate unadjusted EBITDA:\n\n1. Start with the operating income (also known as operating profit or earnings before interest and taxes - EBIT) from the income statement.\n2. Add back the depreciation and amortization expenses found on the cash flow statement or in the notes to the financial statements, as these are non-cash charges.\n\nThe sum of these figures would give you the unadjusted EBITDA.\n\nTo find the exact numbers for American Water Works's FY2021, you would need to access their financial statements, which are usually available on their investor relations website or through financial databases and platforms like the SEC's EDGAR system if they are a publicly-traded company in the United States. Once you have the statements, you can perform the calculation as described above.","label":"Refusal"}
{"financebench_id":"financebench_id_00070","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Does American Water Works have positive working capital based on FY2022 data? If working capital is not a useful or relevant metric for this company, then please state that and explain why.","gold_answer":"Yes. American Water Works had postivie working capital of $ 124Mn by FY 2022.","model_answer":"As of my last update in early 2023, I do not have access to real-time financial data or the specific financial statements for American Water Works for the fiscal year 2022. To determine if American Water Works has positive working capital for FY2022, you would need to look at the company's balance sheet from their annual report or 10-K filing for that year.\n\nWorking capital is calculated as current assets minus current liabilities. If the company's current assets exceed its current liabilities, it has positive working capital, which generally indicates that the company can cover its short-term liabilities with its short-term assets.\n\nHowever, for utility companies like American Water Works, working capital may not be as critical a metric as it is for companies in other industries. This is because utilities often have more predictable cash flows due to the essential nature of their services and regulated rate structures. Customers typically pay for utility services on a regular basis, which provides a steady stream of cash inflows. Additionally, utilities may have different capital structures and regulatory environments that affect the relevance of working capital as a performance indicator.\n\nTo get the most accurate and up-to-date information on American Water Works' working capital for FY2022, you should refer to the company's financial statements, which can be found in their annual report or 10-K filing with the Securities and Exchange Commission (SEC). These documents will provide the necessary details to calculate and assess the company's working capital situation.","label":"Refusal"}
{"financebench_id":"financebench_id_02608","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"In agreement with the information outlined in the income statement, what is the FY2015 - FY2017 3 year average net profit margin (as a %) for Best Buy? Answer in units of percents and round to one decimal place.","gold_answer":0.028,"model_answer":"I'm sorry, but as an AI developed by OpenAI, I don't have access to real-time or historical financial data unless it has been provided within the context of the conversation. To calculate the 3-year average net profit margin for Best Buy for FY2015 to FY2017, you would need to have the net income and revenue figures for each of those fiscal years.\n\nThe net profit margin is calculated as follows:\n\nNet Profit Margin = (Net Income \/ Revenue) x 100\n\nTo find the 3-year average, you would calculate the net profit margin for each year and then average them:\n\n3-Year Average Net Profit Margin = (Net Profit Margin FY2015 + Net Profit Margin FY2016 + Net Profit Margin FY2017) \/ 3\n\nIf you can provide the net income and revenue figures for Best Buy for FY2015, FY2016, and FY2017, I can help you calculate the average net profit margin. Otherwise, you would need to look up Best Buy's financial statements for those years to get the necessary data.","label":"Refusal"}
{"financebench_id":"financebench_id_04417","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the year end FY2019 total amount of inventories for Best Buy? Answer in USD millions. Base your judgments on the information provided primarily in the balance sheet.","gold_answer":5409,"model_answer":"To find the year-end FY2019 total amount of inventories for Best Buy, you would typically look at the company's annual report for the fiscal year 2019, specifically the balance sheet. The balance sheet would list the total amount of inventories under current assets.\n\nHowever, as an AI, I don't have access to real-time or updated databases, and my knowledge is cut off as of early 2023. To get the most accurate and current information, you should look at Best Buy's 2019 annual report (Form 10-K) which is publicly available on the Best Buy investor relations website or on the SEC's EDGAR database.\n\nIf you have the annual report or the balance sheet for Best Buy's FY2019, you can find the inventories amount listed under the current assets section. If you provide me with the figure from the balance sheet, I can confirm the amount for you. Otherwise, you will need to access the report to find the exact figure in USD millions.","label":"Refusal"}
{"financebench_id":"financebench_id_01077","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What are major acquisitions that Best Buy has done in FY2023, FY2022 and FY2021?","gold_answer":"Best Buy closed two acquisitions, both these companies were already partially owned by Best Buy, but Best Buy acquired all outstanding shares of these two companies during FY 2022: (1) Current Health Ltd and (2) Two Peaks, LLC d\/b\/a Yardbird Furniture","model_answer":"As of my last update in early 2023, I do not have real-time access to current events or a database of company acquisitions. To obtain the most accurate and up-to-date information on Best Buy's major acquisitions in fiscal years 2021, 2022, and 2023, you would need to consult financial news outlets, Best Buy's official press releases, or financial filings such as the company's annual reports (Form 10-K) and quarterly reports (Form 10-Q) filed with the U.S. Securities and Exchange Commission (SEC).\n\nFor historical context, Best Buy has made several acquisitions in the past to expand its services and offerings, such as the purchase of Geek Squad, Magnolia Hi-Fi, and Pacific Sales. However, for the specific acquisitions in FY2021, FY2022, and FY2023, you would need to look at the most recent sources available at the time of your inquiry.","label":"Refusal"}
{"financebench_id":"financebench_id_01275","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Among operations, investing, and financing activities, which brought in the most (or lost the least) cash flow for Best Buy in FY2023?","gold_answer":"Best Buy generated the most cash flow from operating activities in FY 2023 ($1.8 bn)","model_answer":"As of my last update in early 2023, I do not have access to real-time data or financial statements released after that time. To determine which activity\u2014operations, investing, or financing\u2014brought in the most or lost the least cash flow for Best Buy in FY2023, you would need to review Best Buy's most recent annual report or Form 10-K, which includes the company's financial statements and notes.\n\nThe statement of cash flows in the annual report will detail the cash flows from operating activities, investing activities, and financing activities. Typically, for a retail company like Best Buy, operating activities are expected to be the primary source of cash flow, as this includes the cash generated from the company's core business operations, such as sales to customers.\n\nTo find the most current information, you can:\n\n1. Visit Best Buy's investor relations website, where they publish their financial reports.\n2. Look for the Statement of Cash Flows in the most recent annual report (Form 10-K) or quarterly report (Form 10-Q) if the annual report is not yet available.\n3. Compare the net cash provided by (or used in) operating activities, investing activities, and financing activities to determine which had the most positive or least negative impact on the company's cash flow for FY2023.\n\nRemember that the fiscal year for companies can differ from the calendar year, so FY2023 for Best Buy may not align with the calendar year 2023.","label":"Refusal"}
{"financebench_id":"financebench_id_01902","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Which Best Buy product category performed the best (by top line) in the domestic (USA) Market during Q2 of FY2024?","gold_answer":"The entertainment segment experienced the highest growth of 9% during Q2 FY2024, primarily from gaming division.","model_answer":"I'm sorry, but as of my last update in early 2023, I cannot provide real-time or future financial performance data for Best Buy or any other company. To obtain the most current information on Best Buy's financial performance, including which product category performed the best in the domestic market during Q2 of FY2024, you would need to refer to the company's latest earnings report, press releases, or financial statements, which are typically available on the investor relations section of Best Buy's official website or through financial news outlets and databases.","label":"Refusal"}
{"financebench_id":"financebench_id_00288","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Was there any drop in Cash & Cash equivalents between FY 2023 and Q2 of FY2024?","gold_answer":"Yes, there was a decline of ~42% between FY2023 and Q2 of FY 2024.","model_answer":"I'm sorry, but as an AI developed by OpenAI, I don't have access to real-time or future financial data, including the specifics of a company's cash and cash equivalents between FY 2023 and Q2 of FY 2024. To obtain this information, you would need to look at the company's financial statements, specifically the balance sheet and the cash flow statement, which are typically published in their quarterly and annual reports.\n\nIf the company is publicly traded, these reports are usually available on their investor relations website or through financial data platforms like Bloomberg, Reuters, or the SEC's EDGAR database if the company is based in the United States.\n\nTo determine if there was a drop in cash and cash equivalents, you would compare the line item for cash and cash equivalents at the end of FY 2023 with the same line item at the end of Q2 FY 2024. If the number is lower in Q2 FY 2024, then there was a drop. Factors contributing to a decrease could include operational spending, investments, acquisitions, dividend payments, share buybacks, or other uses of cash.","label":"Refusal"}
{"financebench_id":"financebench_id_00460","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Was there any change in the number of Best Buy stores between Q2 of FY2024 and FY2023?","gold_answer":"Yes, there is decline in number stores by 1.32% from 982 stores in Q2 FY 2023 to 969 by the end of Q2 FY2024.","model_answer":"I'm sorry, but as of my last update in early 2023, I cannot provide real-time or future data, including the number of Best Buy stores in Q2 of FY2024 or any changes from FY2023. For the most current information, please check the latest reports or press releases from Best Buy or consult financial news sources that track retail industry data.","label":"Refusal"}
{"financebench_id":"financebench_id_04660","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Considering the data in the balance sheet, what is Block's (formerly known as Square) FY2016 working capital ratio? Define working capital ratio as total current assets divided by total current liabilities. Round your answer to two decimal places.","gold_answer":1.73,"model_answer":"To calculate Block's (formerly known as Square) FY2016 working capital ratio, you would need to have the company's balance sheet for the fiscal year 2016. The working capital ratio is calculated by dividing total current assets by total current liabilities.\n\nThe formula is:\n\nWorking Capital Ratio = Total Current Assets \/ Total Current Liabilities\n\nUnfortunately, I do not have access to real-time or historical financial data, including Block's balance sheet for FY2016. To find this information, you would typically look at Block's annual report (Form 10-K) for the fiscal year 2016, which is publicly available on the Securities and Exchange Commission (SEC) website or on the company's investor relations page.\n\nOnce you have the balance sheet, you can find the total current assets and total current liabilities and perform the calculation. If you provide me with the relevant figures, I can help you calculate the working capital ratio. Otherwise, you would need to look up the data and perform the calculation yourself. Remember to round your answer to two decimal places as per your request.","label":"Refusal"}
{"financebench_id":"financebench_id_07661","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Using the cash flow statement, answer the following question to the best of your abilities: how much did Block (formerly known as Square) generate in cash flow from operating activities in FY2020? Answer in USD millions.","gold_answer":382,"model_answer":"As of my last update in early 2023, I don't have real-time access to financial databases or the latest financial statements. To find out how much Block, Inc. (formerly known as Square, Inc.) generated in cash flow from operating activities in FY2020, you would need to look at the company's 2020 annual report or Form 10-K, which includes the cash flow statement.\n\nThe cash flow statement is one of the three primary financial statements (alongside the income statement and balance sheet) that companies use to report their financial performance. The cash flow from operating activities is typically reported in the first section of the cash flow statement.\n\nTo find the exact figure, you can:\n\n1. Visit Block's investor relations website (previously Square's investor relations website).\n2. Look for the financials section or a direct link to their annual reports or SEC filings.\n3. Download the 2020 annual report or Form 10-K.\n4. Navigate to the Consolidated Statements of Cash Flows.\n5. Look for the line that says \"Net cash provided by (used in) operating activities\" for the year ended December 31, 2020.\n\nThe figure you're looking for will be listed there in millions of USD. If you need the most current and accurate information, please follow these steps or consult a financial database that provides company financials.","label":"Refusal"}
{"financebench_id":"financebench_id_03838","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2019 - FY2020 total revenue growth rate for Block (formerly known as Square)? Answer in units of percents and round to one decimal place. Approach the question asked by assuming the standpoint of an investment banking analyst who only has access to the statement of income.","gold_answer":1.015,"model_answer":"To calculate the total revenue growth rate for Block (formerly known as Square) from FY2019 to FY2020, you would typically follow these steps:\n\n1. Locate the total revenue figures for both FY2019 and FY2020 from the income statement.\n2. Use the growth rate formula:\n\n   Growth Rate = [(Revenue in FY2020 - Revenue in FY2019) \/ Revenue in FY2019] * 100\n\n3. Calculate the growth rate and round to one decimal place.\n\nHowever, as an AI, I do not have real-time access to financial databases or the latest financial statements. To perform this calculation, you would need the actual revenue figures from Block's income statements for the fiscal years 2019 and 2020.\n\nIf you can provide the revenue figures for those years, I can help you calculate the growth rate. Otherwise, you would need to look up Block's financial statements, which are typically available in their annual report (Form 10-K) filed with the Securities and Exchange Commission (SEC) or on their investor relations website. Once you have the figures, you can apply the formula above to calculate the growth rate.","label":"Refusal"}
{"financebench_id":"financebench_id_10285","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"We need to calculate a financial metric by using information only provided within the balance sheet. Please answer the following question: what is Boeing's year end FY2018 net property, plant, and equipment (in USD millions)?","gold_answer":12645,"model_answer":"To find Boeing's year-end FY2018 net property, plant, and equipment (PP&E), you would typically look at the company's balance sheet for the fiscal year ending in 2018. The net PP&E is calculated by taking the gross property, plant, and equipment and subtracting accumulated depreciation.\n\nHowever, as an AI developed by OpenAI, I don't have real-time access to databases or the internet to look up current or historical financial statements. To obtain Boeing's year-end FY2018 net property, plant, and equipment, you would need to access Boeing's 2018 annual report (Form 10-K) which is publicly available on their investor relations website or through the SEC's EDGAR database.\n\nOnce you have the annual report, you can find the net PP&E figure in the assets section of the balance sheet. If you have the report and need help interpreting the figures, feel free to provide the relevant numbers, and I can assist you with the calculation.","label":"Refusal"}
{"financebench_id":"financebench_id_01091","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Has Boeing reported any materially important ongoing legal battles from FY2022?","gold_answer":"Yes. Multiple lawsuits have been filed against Boeing resulting from a 2018 Lion Air crash and a 2019 Ethiopian Airlines crash.","model_answer":"As of my last update in early 2023, Boeing, like many large corporations, is often involved in various legal proceedings, including commercial disputes, employment matters, product liability claims, and government investigations. However, I do not have real-time access to new information, including Boeing's latest legal battles or the specifics of any ongoing cases from FY2022.\n\nFor the most current and detailed information regarding Boeing's legal matters, you should refer to the company's filings with the U.S. Securities and Exchange Commission (SEC), particularly the 10-K and 10-Q reports, which include sections on legal proceedings. Additionally, press releases and news articles from reliable sources can provide updates on significant legal issues the company may be facing.\n\nIf you are looking for information on a specific case or a general update on Boeing's legal affairs, it is best to consult the latest documents and reports directly from Boeing or through official regulatory filings.","label":"Refusal"}
{"financebench_id":"financebench_id_00494","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What production rate changes is Boeing forecasting for FY2023?","gold_answer":"Boeing forecasts an increase in the production rates for the 737, 777X and 787 aircrafts in 2023.","model_answer":"As of my last update in early 2023, I do not have real-time data or the ability to provide current forecasts for Boeing's production rates for FY2023. Boeing's production rates are subject to change based on various factors, including market demand, supply chain constraints, regulatory issues, and global economic conditions.\n\nFor the most accurate and up-to-date information regarding Boeing's production rate forecasts for FY2023, I recommend checking the latest press releases from Boeing's official website, financial news outlets, or directly contacting Boeing's investor relations. These sources will provide the most current data and forecasts released by the company.","label":"Refusal"}
{"financebench_id":"financebench_id_00585","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"How does Boeing's effective tax rate in FY2022 compare to FY2021?","gold_answer":"Effective tax rate in FY2022 was 0.62%, compared to  -14.76% in FY2021.","model_answer":"As of my last update in early 2023, I do not have access to real-time data or the ability to fetch the latest financial reports. To determine Boeing's effective tax rate for FY2022 and compare it to FY2021, you would need to look at the company's financial statements, specifically the income statement and tax note disclosures, which are typically found in their annual report (Form 10-K) filed with the U.S. Securities and Exchange Commission (SEC).\n\nTo find this information, you can:\n\n1. Visit Boeing's investor relations website to find the latest annual report or 10-K filing.\n2. Check the SEC's EDGAR database for Boeing's latest filings.\n3. Look for financial news articles or analyses that discuss Boeing's FY2022 financial performance, as they may mention the effective tax rate.\n\nOnce you have the relevant documents, you can calculate the effective tax rate by dividing the income tax expense by the pre-tax income, and then compare the rates for FY2022 and FY2021. If there are any specific tax-related notes or adjustments, they will be detailed in the notes to the financial statements.","label":"Refusal"}
{"financebench_id":"financebench_id_00678","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Does Boeing have an improving gross margin profile as of FY2022? If gross margin is not a useful metric for a company like this, then state that and explain why.","gold_answer":"Yes. Boeing has an improving gross margin profile as of FY2022. Gross profit improved from $3,017 million in FY2021 to $3,502 million in FY2022. Gross margin % improved from 4.8% in FY2021 to 5.3% in FY2022.","model_answer":"As of my last update in early 2023, I do not have access to real-time financial data or the latest financial statements for Boeing. To determine whether Boeing has an improving gross margin profile for the fiscal year 2022, you would need to review the company's financial results, specifically the income statement, which would show the gross profit and gross margin.\n\nGross margin is calculated by subtracting the cost of goods sold (COGS) from revenue and then dividing that figure by revenue. An improving gross margin profile would indicate that the company is becoming more efficient in its production or is able to command higher prices for its products relative to the costs of production.\n\nFor a company like Boeing, which operates in the aerospace and defense industry, gross margin can be influenced by a variety of factors, including:\n\n1. Production efficiency: Improvements in production processes or economies of scale can reduce the cost per unit, potentially improving gross margins.\n2. Product mix: The mix of products sold (commercial airplanes, defense equipment, services, etc.) can affect margins, as different products have different profitability profiles.\n3. Contract terms: Long-term contracts and the timing of milestone payments can impact reported margins in any given period.\n4. Development costs: High research and development costs for new aircraft models can affect COGS and, consequently, gross margins.\n5. Pricing power: The ability to raise prices in response to demand or to offset increased costs can influence margins.\n\nHowever, for a company like Boeing, which has long product development cycles and large, complex contracts, gross margin might not always be the most informative metric. Other factors such as cash flow, backlog, order intake, and delivery schedules can be equally or more important in assessing the company's financial health and performance.\n\nTo get the most accurate and up-to-date information on Boeing's gross margin profile for FY2022, you should refer to the company's latest annual report (Form 10-K) or quarterly reports (Form 10-Q), which are publicly available on the Boeing website or through the U.S. Securities and Exchange Commission's EDGAR database. These documents will provide detailed financial statements and management's discussion and analysis, which can offer insights into the company's financial performance and outlook.","label":"Refusal"}
{"financebench_id":"financebench_id_03473","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2017 return on assets (ROA) for Coca Cola? ROA is defined as: FY2017 net income \/ (average total assets between FY2016 and FY2017). Round your answer to two decimal places. Give a response to the question by relying on the details shown in the balance sheet and the P&L statement.","gold_answer":0.01,"model_answer":"To calculate the return on assets (ROA) for Coca-Cola for the fiscal year 2017, I would need the net income for FY2017 and the total assets for both FY2016 and FY2017. However, you haven't provided the actual financial statements or the figures from them.\n\nTo perform the calculation, you would typically follow these steps:\n\n1. Obtain the net income for FY2017 from the P&L statement (also known as the income statement).\n2. Get the total assets for FY2016 and FY2017 from the balance sheet.\n3. Calculate the average total assets by adding the total assets for FY2016 and FY2017 and then dividing by 2.\n4. Divide the net income for FY2017 by the average total assets to get the ROA.\n5. Round the result to two decimal places.\n\nThe formula would look like this:\n\nROA = (Net Income FY2017) \/ ((Total Assets FY2016 + Total Assets FY2017) \/ 2)\n\nPlease provide the necessary figures, and I can help you calculate the ROA for Coca-Cola for FY2017.","label":"Refusal"}
{"financebench_id":"financebench_id_09724","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is Coca Cola's FY2021 COGS % margin? Calculate what was asked by utilizing the line items clearly shown in the income statement.","gold_answer":0.397,"model_answer":"To calculate Coca-Cola's FY2021 Cost of Goods Sold (COGS) percentage margin, you would need to have access to their financial statements for the fiscal year 2021. The COGS percentage margin is calculated by taking the COGS and dividing it by the total revenue, then multiplying by 100 to get a percentage.\n\nThe formula is:\n\nCOGS % Margin = (COGS \/ Total Revenue) x 100\n\nUnfortunately, I do not have real-time access to financial databases or the latest financial statements. However, you can easily find this information in Coca-Cola's 2021 annual report or 10-K filing, which is publicly available on their investor relations website or on the SEC's EDGAR database.\n\nOnce you have the income statement, look for the line item that says \"Cost of Goods Sold\" and the line item for \"Net Operating Revenues\" or simply \"Revenues.\" Use the numbers from these line items to perform the calculation.\n\nFor example, if Coca-Cola's COGS for FY2021 was $10 billion and the total revenue was $40 billion, the calculation would be:\n\nCOGS % Margin = ($10 billion \/ $40 billion) x 100 = 25%\n\nPlease find the actual numbers from Coca-Cola's financial statements to perform this calculation accurately.","label":"Refusal"}
{"financebench_id":"financebench_id_06272","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is Coca Cola's FY2022 dividend payout ratio (using total cash dividends paid and net income attributable to shareholders)? Round answer to two decimal places. Answer the question asked by assuming you only have access to information clearly displayed in the cash flow statement and the income statement.","gold_answer":0.8,"model_answer":"To calculate the dividend payout ratio for Coca-Cola's FY2022, we need two pieces of information: the total cash dividends paid and the net income attributable to shareholders for the fiscal year 2022. The dividend payout ratio is calculated by dividing the total cash dividends paid by the net income attributable to shareholders.\n\nThe formula is as follows:\nDividend Payout Ratio = (Total Cash Dividends Paid \/ Net Income Attributable to Shareholders) x 100\n\nSince I don't have access to real-time or updated data, I cannot provide the actual numbers for Coca-Cola's FY2022. However, I can guide you on where to find this information:\n\n1. Total Cash Dividends Paid: This information can be found in the company's cash flow statement under the section \"Financing Activities.\" Look for a line item that mentions dividends paid.\n\n2. Net Income Attributable to Shareholders: This information is available on the income statement. It is usually listed at the bottom of the statement as \"Net Income\" or \"Net Income Attributable to The Coca-Cola Company\" (or similar wording).\n\nOnce you have both figures, you can calculate the dividend payout ratio using the formula above and round the result to two decimal places. If you provide the actual numbers from the financial statements, I can help you calculate the ratio.","label":"Refusal"}
{"financebench_id":"financebench_id_10130","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Based on the information provided primarily in the balance sheet and the statement of income, what is FY2020 days payable outstanding (DPO) for Corning? DPO is defined as: 365 * (average accounts payable between FY2019 and FY2020) \/ (FY2020 COGS + change in inventory between FY2019 and FY2020). Round your answer to two decimal places.","gold_answer":63.86,"model_answer":"To calculate the Days Payable Outstanding (DPO) for Corning for FY2020, we need the following information from the balance sheet and the statement of income:\n\n1. Accounts payable for FY2019 and FY2020 to calculate the average accounts payable.\n2. Cost of Goods Sold (COGS) for FY2020.\n3. Inventory for FY2019 and FY2020 to calculate the change in inventory.\n\nThe formula for DPO is:\n\nDPO = 365 * (Average Accounts Payable) \/ (COGS + Change in Inventory)\n\nHowever, you have not provided the actual financial figures for Corning. To calculate the DPO, you would need to provide the relevant numbers from Corning's financial statements. Once you have those numbers, you can use the formula as follows:\n\n1. Calculate the average accounts payable:\n   Average Accounts Payable = (Accounts Payable FY2019 + Accounts Payable FY2020) \/ 2\n\n2. Calculate the change in inventory:\n   Change in Inventory = Inventory FY2020 - Inventory FY2019\n\n3. Plug the values into the DPO formula:\n   DPO = 365 * (Average Accounts Payable) \/ (COGS FY2020 + Change in Inventory)\n\nPlease provide the necessary financial data, and I can help you calculate the DPO for Corning for FY2020.","label":"Refusal"}
{"financebench_id":"financebench_id_02981","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Taking into account the information outlined in the income statement, what is the FY2019 - FY2021 3 year average unadjusted operating income % margin for Corning? Answer in units of percents and round to one decimal place.","gold_answer":0.103,"model_answer":"I'm sorry, but as an AI, I don't have access to real-time or historical financial data unless it is provided within the question. To calculate the 3-year average unadjusted operating income percentage margin for Corning (or any company), you would need the operating income and revenue figures for the fiscal years 2019, 2020, and 2021 from Corning's income statements.\n\nThe formula to calculate the operating income percentage margin for a single year is:\n\nOperating Income Margin % = (Operating Income \/ Revenue) x 100\n\nTo calculate the 3-year average, you would do the following:\n\n1. Calculate the operating income margin % for each year.\n2. Sum the operating income margins for FY2019, FY2020, and FY2021.\n3. Divide the sum by 3 to get the average.\n\nFor example, if the operating income margins for the three years were 15%, 18%, and 20%, respectively, the calculation would be:\n\n(15% + 18% + 20%) \/ 3 = 53% \/ 3 = 17.7%\n\nSo the 3-year average unadjusted operating income percentage margin would be 17.7%.\n\nPlease provide the operating income and revenue figures for Corning for the fiscal years 2019, 2020, and 2021, and I can help you calculate the average operating income margin.","label":"Refusal"}
{"financebench_id":"financebench_id_00005","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Does Corning have positive working capital based on FY2022 data? If working capital is not a useful or relevant metric for this company, then please state that and explain why.","gold_answer":"Yes. Corning had a positive working capital amount of $831 million by FY 2022 close. This answer considers only operating current assets and current liabilities that were clearly shown in the balance sheet.","model_answer":"As of my last update in early 2023, I do not have access to real-time data or financial statements for Corning Incorporated or any other company. To determine if Corning has positive working capital based on FY2022 data, you would need to look at their most recent annual report or Form 10-K, which would provide the company's financial statements for the fiscal year 2022.\n\nWorking capital is calculated as current assets minus current liabilities. If Corning's current assets exceed its current liabilities, then the company would have positive working capital.\n\nTo find this information, you can:\n\n1. Visit Corning's investor relations website to find their latest financial reports.\n2. Look for the balance sheet within the FY2022 annual report or Form 10-K.\n3. Identify the current assets and current liabilities.\n4. Subtract the current liabilities from the current assets to calculate working capital.\n\nIf the result is a positive number, Corning has positive working capital, indicating that it can cover its short-term liabilities with its short-term assets. If the result is negative, it suggests that the company may have liquidity issues in the short term.\n\nWorking capital is generally a useful metric for assessing a company's short-term financial health and operational efficiency. However, there are industries and situations where working capital might not be as relevant. For example, companies with a subscription-based model or those that receive payments upfront might not rely on working capital as much. Additionally, firms with significant non-current assets or long-term contracts may operate effectively with negative working capital.\n\nFor Corning, which is a technology and materials science company, working capital can be relevant because it deals with manufacturing and selling physical products, which involves inventory management, supplier payments, and customer collections. However, the importance of working capital can vary depending on the specific business segment and operational strategy of the company.\n\nTo get the most accurate and up-to-date information on Corning's working capital for FY2022, please refer to their latest financial disclosures.","label":"Refusal"}
{"financebench_id":"financebench_id_01346","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"How much has the effective tax rate of Corning changed between FY2021 and FY2022?","gold_answer":"The effective tax rate of Corning has changed from 20% in FY2021 to 23% in FY 2022.","model_answer":"As of my last update, I do not have real-time access to current financial data, including the effective tax rates of specific companies like Corning for fiscal years 2021 and 2022. To find the effective tax rate of Corning for those years, you would need to look at their annual reports (Form 10-K) or quarterly reports (Form 10-Q) filed with the U.S. Securities and Exchange Commission (SEC). These documents are publicly available on the SEC's EDGAR database or on Corning's investor relations website.\n\nOnce you have the reports, you can calculate the effective tax rate by taking the tax expense (benefit) and dividing it by the pre-tax income. The formula is:\n\nEffective Tax Rate = (Tax Expense \/ Pre-Tax Income) x 100\n\nCompare the effective tax rate from FY2021 to that of FY2022 to see how much it has changed. If you need assistance with this calculation after obtaining the relevant financial statements, feel free to ask for help with the specific figures.","label":"Refusal"}
{"financebench_id":"financebench_id_04209","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Using only the information within the balance sheet, how much total assets did Costco have at the end of FY2021? Answer in USD millions.","gold_answer":59268,"model_answer":"I'm sorry, but as an AI, I don't have real-time access to external databases or the ability to fetch live data, including the most recent financial statements of companies. To find out the total assets Costco had at the end of FY2021, you would need to look at Costco's balance sheet in their 2021 annual report or Form 10-K filing with the Securities and Exchange Commission (SEC).\n\nOnce you have the balance sheet, you can find the total assets figure at the bottom of the assets section. This number is typically clearly labeled as \"Total Assets.\" If you have the report and provide me with the figures, I can help you interpret them, but I cannot provide the actual number without the current data.","label":"Refusal"}
{"financebench_id":"financebench_id_05915","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2018 fixed asset turnover ratio for CVS Health? Fixed asset turnover ratio is defined as: FY2018 revenue \/ (average PP&E between FY2017 and FY2018). Round your answer to two decimal places. Calculate what was asked by utilizing the line items clearly shown in the P&L statement and the balance sheet.","gold_answer":17.98,"model_answer":"To calculate the fixed asset turnover ratio for CVS Health for the fiscal year 2018, we need two pieces of information:\n\n1. The revenue for FY2018.\n2. The average property, plant, and equipment (PP&E) for FY2017 and FY2018.\n\nThis information is typically found in the company's annual report (Form 10-K) for the relevant years. Since I don't have access to real-time or updated databases, I can't provide the actual numbers. However, I can guide you on how to calculate the ratio if you have the financial statements.\n\nHere's how you would calculate it:\n\n1. Find the revenue for FY2018 on the income statement (P&L statement).\n2. Find the PP&E values for FY2017 and FY2018 on the balance sheet.\n3. Calculate the average PP&E by adding the PP&E value for FY2017 to the PP&E value for FY2018 and then dividing by 2.\n4. Divide the revenue for FY2018 by the average PP&E to get the fixed asset turnover ratio.\n\nThe formula looks like this:\n\nFixed Asset Turnover Ratio = FY2018 Revenue \/ [(PP&E at the end of FY2017 + PP&E at the end of FY2018) \/ 2]\n\nOnce you have the numbers, you can plug them into the formula and calculate the ratio. Remember to round your answer to two decimal places as requested. If you provide the actual numbers from CVS Health's financial statements, I can help you with the calculation.","label":"Refusal"}
{"financebench_id":"financebench_id_01244","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Has CVS Health paid dividends to common shareholders in Q2 of FY2022?","gold_answer":"Yes, CVS paid a $ 0.55 dividend per share every quarter in FY2022","model_answer":"As of my last update, CVS Health Corporation, which is listed on the New York Stock Exchange under the ticker symbol CVS, has a history of paying quarterly dividends to its shareholders. However, to provide the most accurate and up-to-date information regarding whether CVS Health paid dividends to common shareholders in Q2 of FY2022, you would need to check the latest financial news, the investor relations section of the CVS Health website, or financial databases for the most recent dividend announcements and payment records.\n\nIf you are looking for historical dividend information, you can typically find it on financial news websites, stock market analysis platforms, or directly from the company's investor relations communications. Keep in mind that dividend payments are subject to change and are declared by the company's board of directors.","label":"Refusal"}
{"financebench_id":"financebench_id_01107","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Has CVS Health reported any materially important ongoing legal battles from 2022, 2021 and 2020?","gold_answer":"Yes, CVS Health has been involved in multiple ongoing legal battles. Some notable legal dispute areas for CVS are: (1) usual and customary pricing litigation: where it's claimed that CVS\u2019s retail pharmacies overcharged for prescription drugs; (2) PBM litigation and investigations: where it's claimed that that rebate agreements between the drug manufacturers and PBMs caused inflated prices for certain drug products; and (3) controlled substances litigation: legal matters around opioids for which CVS has agreed to pay up to $4.3 billion to claimants in remediation and $625 million to attorneys and fees","model_answer":"As of my last update in early 2023, CVS Health, like many large corporations, is often involved in various legal proceedings, including government investigations, regulatory matters, and litigation. However, I cannot provide real-time updates or a comprehensive list of all ongoing legal battles that CVS Health may be involved in for the years 2020, 2021, and 2022.\n\nOne of the notable legal issues that CVS Health has faced in recent years is related to the opioid crisis. CVS, along with other pharmacy chains, has been involved in litigation regarding the handling and distribution of opioid medications. These lawsuits allege that pharmacies contributed to the opioid epidemic by not properly monitoring and controlling the distribution of these drugs.\n\nAnother area where CVS Health has faced legal challenges is in antitrust litigation. For example, after CVS acquired Aetna in 2018, there were ongoing concerns and legal challenges related to antitrust issues and the potential impact on competition in the healthcare and pharmacy markets.\n\nCVS Health has also been involved in various other legal disputes and settlements, ranging from allegations of prescription fraud to pricing disputes.\n\nFor the most current and specific information regarding CVS Health's legal battles, you would need to consult the company's most recent filings with the Securities and Exchange Commission (SEC), such as the 10-K and 10-Q reports, press releases, or official statements from the company. Additionally, legal databases and news outlets may provide updates on significant legal proceedings involving the company.","label":"Refusal"}
{"financebench_id":"financebench_id_00790","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Is CVS Health a capital-intensive business based on FY2022 data?","gold_answer":"Yes, CVS Health requires an extensive asset base to operate, which is evident from its ROA of only 1.82% in 2022 and 3.39% in 2021, though it should be noted that a significant portion of this asset base is goodwill, and CVS's fixed assets\/total assets ratio is on the lower side of 5.6%.","model_answer":"As of my last update in early 2023, I don't have access to real-time or the most recent financial data for CVS Health or any other company. To determine whether CVS Health is a capital-intensive business based on FY2022 data, you would need to look at their financial statements for that year, particularly the balance sheet and cash flow statement.\n\nA capital-intensive business is one that requires significant investment in physical assets to operate effectively. This typically includes industries like manufacturing, utilities, and transportation. To assess if CVS Health is capital-intensive, you would consider factors such as:\n\n1. Capital Expenditures (CapEx): Look at the amount of money CVS Health spent on purchasing or maintaining physical assets such as property, plant, and equipment (PP&E). A high CapEx relative to its revenue might indicate a capital-intensive business.\n\n2. Depreciation and Amortization: High depreciation and amortization expenses can also be a sign of a capital-intensive business, as they indicate substantial investment in long-term assets.\n\n3. Asset Composition: Examine the balance sheet to see the proportion of the company's assets that are tangible and require capital investments. A higher proportion of physical assets could suggest a capital-intensive nature.\n\n4. Return on Assets (ROA): This ratio indicates how efficiently a company uses its assets to generate earnings. A lower ROA might suggest that the company needs to invest heavily in assets to produce income, which is characteristic of capital-intensive industries.\n\nTo get the specific data for CVS Health's FY2022, you would need to access their annual report or 10-K filing with the Securities and Exchange Commission (SEC). These documents would provide the necessary financial details to make an informed assessment of their capital intensity.","label":"Refusal"}
{"financebench_id":"financebench_id_00822","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Were there any board member nominees who had substantially more votes against joining than the other nominees?","gold_answer":"Yes, his name is Richard A. Johnson","model_answer":"To answer your question accurately, I would need specific information about the context or organization you are referring to. Board member nominations and voting outcomes can vary widely depending on the company, non-profit, or other types of organization involved. Without knowing the specific board election you are asking about, I cannot provide a detailed response.\n\nIf you have a particular board election in mind, please provide additional details such as the name of the organization, the date of the election, and any relevant circumstances surrounding the nominees. With that information, I could attempt to provide a more informed answer or direct you to where you might find the voting results for that particular board election.","label":"Refusal"}
{"financebench_id":"financebench_id_04103","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2019 cash conversion cycle (CCC) for General Mills? CCC is defined as: DIO + DSO - DPO. DIO is defined as: 365 * (average inventory between FY2018 and FY2019) \/ (FY2019 COGS). DSO is defined as: 365 * (average accounts receivable between FY2018 and FY2019) \/ (FY2019 Revenue). DPO is defined as: 365 * (average accounts payable between FY2018 and FY2019) \/ (FY2019 COGS + change in inventory between FY2018 and FY2019). Round your answer to two decimal places. Address the question by using the line items and information shown within the income statement and the balance sheet.","gold_answer":-3.7,"model_answer":"To calculate the cash conversion cycle (CCC) for General Mills for FY2019, we need to find the Days Inventory Outstanding (DIO), Days Sales Outstanding (DSO), and Days Payable Outstanding (DPO) using the formulas provided. However, I do not have access to General Mills' financial statements or any real-time data. To perform this calculation, you would need to provide the following data from General Mills' financial statements for FY2018 and FY2019:\n\n1. FY2019 Cost of Goods Sold (COGS)\n2. Inventory at the end of FY2018 and FY2019\n3. FY2019 Revenue\n4. Accounts Receivable at the end of FY2018 and FY2019\n5. Accounts Payable at the end of FY2018 and FY2019\n\nOnce you have these figures, you can calculate the DIO, DSO, and DPO as follows:\n\nDIO = 365 * (Average Inventory \/ FY2019 COGS)\nDSO = 365 * (Average Accounts Receivable \/ FY2019 Revenue)\nDPO = 365 * (Average Accounts Payable \/ (FY2019 COGS + Change in Inventory))\n\nThe average inventory, average accounts receivable, and average accounts payable are calculated by taking the sum of the beginning and ending balances for each respective account and dividing by two.\n\nFinally, the CCC is calculated by adding DIO and DSO and then subtracting DPO.\n\nIf you can provide the necessary financial data, I can assist you with the calculation. Otherwise, you would need to refer to General Mills' financial statements for FY2018 and FY2019 to perform the calculation.","label":"Refusal"}
{"financebench_id":"financebench_id_03471","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"By drawing conclusions from the information stated only in the statement of financial position, what is General Mills's FY2020 working capital ratio? Define working capital ratio as total current assets divided by total current liabilities. Round your answer to two decimal places.","gold_answer":0.68,"model_answer":"I'm sorry, but as an AI, I don't have access to real-time or specific historical financial data, including General Mills's financial statements. To calculate the working capital ratio for General Mills's FY2020, you would need to look at their statement of financial position (also known as the balance sheet) for that fiscal year and find the total current assets and total current liabilities.\n\nOnce you have those figures, you can calculate the working capital ratio using the formula:\n\nWorking Capital Ratio = Total Current Assets \/ Total Current Liabilities\n\nIf you provide me with the total current assets and total current liabilities from General Mills's FY2020 financial statements, I can help you calculate the working capital ratio. Otherwise, you would need to obtain the financial statements from General Mills's investor relations website or financial databases to get the necessary information.","label":"Refusal"}
{"financebench_id":"financebench_id_04854","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"According to the information provided in the statement of cash flows, what is the FY2020 free cash flow (FCF) for General Mills? FCF here is defined as: (cash from operations - capex). Answer in USD millions.","gold_answer":3215,"model_answer":"I'm sorry, but as an AI, I don't have real-time access to financial data or databases. To calculate the FY2020 free cash flow (FCF) for General Mills, you would need to look at the company's statement of cash flows for the fiscal year 2020. The formula for free cash flow (FCF) is:\n\nFCF = Cash from Operations - Capital Expenditures (CapEx)\n\nYou would find the \"Cash from Operations\" and \"Capital Expenditures\" figures on the statement of cash flows. Once you have those numbers, you can subtract CapEx from Cash from Operations to get the FCF.\n\nIf you have the statement of cash flows for General Mills for FY2020, you can provide me with the numbers for \"Cash from Operations\" and \"Capital Expenditures,\" and I can calculate the FCF for you. Otherwise, you would need to obtain the financial statements from General Mills' investor relations website or financial databases such as Bloomberg, Yahoo Finance, or the SEC's EDGAR system.","label":"Refusal"}
{"financebench_id":"financebench_id_10136","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"We want to calculate a financial metric. Please help us compute it by basing your answers off of the cash flow statement and the income statement. Here's the question: what is the FY2022 retention ratio (using total cash dividends paid and net income attributable to shareholders) for General Mills? Round answer to two decimal places.","gold_answer":0.54,"model_answer":"To calculate the retention ratio for General Mills for the fiscal year 2022, you would need to have access to the company's financial statements, specifically the income statement and the cash flow statement for FY2022. The retention ratio is calculated using the following formula:\n\nRetention Ratio = (Net Income - Dividends Paid) \/ Net Income\n\nThis ratio measures the proportion of earnings that is retained in the business rather than paid out as dividends. It is an indicator of how much money a company is reinvesting in its own business.\n\nTo find the necessary figures:\n\n1. **Net Income Attributable to Shareholders**: This figure is typically found on the income statement. It represents the profit that the company has earned over the fiscal year after all expenses, taxes, and minority interests have been subtracted.\n\n2. **Total Cash Dividends Paid**: This figure can be found on the cash flow statement under the financing activities section. It represents the total amount of cash dividends that the company has paid to its shareholders during the fiscal year.\n\nOnce you have these two figures, you can plug them into the formula to calculate the retention ratio. However, since I don't have access to General Mills' FY2022 financial statements, I cannot provide the actual calculation. You would need to look up the company's 2022 annual report or 10-K filing to find the necessary data.\n\nIf you can provide the net income attributable to shareholders and the total cash dividends paid for General Mills for FY2022, I can assist you with the calculation. Otherwise, you would need to obtain these figures from the company's financial disclosures to compute the retention ratio.","label":"Refusal"}
{"financebench_id":"financebench_id_00651","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Is growth in JnJ's adjusted EPS expected to accelerate in FY2023?","gold_answer":"No, rate of growth in adjusted EPS is expected to decelerate slightly from 3.6% in FY2022 to 3.5% in FY2023.","model_answer":"As of my last update, I do not have real-time data or the ability to predict future market conditions or company performance. The expected growth in Johnson & Johnson's (JnJ) adjusted Earnings Per Share (EPS) for the fiscal year 2023 would depend on a variety of factors, including market conditions, company performance, product pipeline, and strategic initiatives.\n\nTo obtain the most accurate and up-to-date information on JnJ's financial outlook, including whether growth in adjusted EPS is expected to accelerate in FY2023, you should refer to the latest financial reports, earnings guidance provided by the company, and analyses from financial analysts covering Johnson & Johnson.\n\nYou can typically find this information in the company's quarterly and annual reports, press releases, investor presentations, and on financial news platforms. Additionally, analysts' reports and forecasts can provide insights into expectations for the company's financial performance.","label":"Refusal"}
{"financebench_id":"financebench_id_01484","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"How did JnJ's US sales growth compare to international sales growth in FY2022?","gold_answer":"US sales increased 3.0% vs international sales decline of 0.6%.","model_answer":"As of my last update in early 2023, I do not have access to real-time data or the specific financial results of Johnson & Johnson (JnJ) for the fiscal year 2022. To obtain the most accurate and up-to-date information regarding JnJ's US sales growth compared to its international sales growth for FY2022, you would need to refer to the company's latest annual report, financial statements, or press releases, which are typically available on their official website or through financial news outlets and databases.\n\nFor the most current and detailed information, please check the latest resources provided by Johnson & Johnson or financial news services.","label":"Refusal"}
{"financebench_id":"financebench_id_00956","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Are JnJ's FY2022 financials that of a high growth company?","gold_answer":"No, JnJ's FY2022 financials are not of a high growth company as sales grew by 1.3% in FY2022.","model_answer":"As of my last update in early 2023, I do not have the specific financial results for Johnson & Johnson (J&J) for the full year 2022. However, to determine if J&J's financials for FY2022 are indicative of a high-growth company, you would typically look at several key indicators:\n\n1. Revenue Growth: High-growth companies usually exhibit strong year-over-year revenue growth. For a mature company like J&J, which operates in the pharmaceuticals, medical devices, and consumer goods sectors, high single-digit growth could be considered strong, while double-digit growth would be particularly impressive.\n\n2. Earnings Growth: Along with revenue, the growth in net income or earnings per share (EPS) is also a critical measure. A high-growth company would typically show a significant increase in profitability.\n\n3. Future Guidance: The company's outlook for the future can also indicate growth potential. If J&J provided optimistic guidance for the upcoming year(s), it might suggest expectations for continued growth.\n\n4. Market Expansion and Product Pipeline: For a healthcare company like J&J, the development of new drugs, medical devices, and international market expansion can drive growth. A robust pipeline of new products or successful entry into new markets could signal a high-growth trajectory.\n\n5. Investment in R&D: High-growth companies often reinvest a significant portion of their earnings into research and development to fuel future growth. J&J's R&D spending could be a clue to its growth potential.\n\n6. Mergers and Acquisitions: Strategic acquisitions can also be a growth driver for companies like J&J. Any significant acquisitions made in 2022 could impact the company's growth profile.\n\nTo get the most accurate and up-to-date information on J&J's financial performance for FY2022, you should refer to the company's official financial statements, earnings reports, and press releases, which are typically available on their investor relations website. Additionally, financial news outlets, analysts' reports, and market research firms often provide analysis and context that can help determine whether J&J's performance aligns with that of a high-growth company.","label":"Refusal"}
{"financebench_id":"financebench_id_00669","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What drove gross margin change as of FY2022 for JnJ? If gross margin is not a useful metric for a company like this, then please state that and explain why.","gold_answer":"For FY22, JnJ had changes in gross margin due to: One-time COVID-19 vaccine manufacturing exit related costs, Currency impacts in the Pharmaceutical segment, Commodity inflation in the MedTech and Consumer Health segments, partially offset by Supply chain benefits in the Consumer Health segment.","model_answer":"As of my last update in early 2023, I do not have access to real-time data or specific financial reports for Johnson & Johnson (JnJ) for FY2022. However, I can provide you with a general understanding of what typically drives gross margin changes for a company like JnJ, which is a large, diversified healthcare company with operations in pharmaceuticals, medical devices, and consumer health products.\n\nGross margin is a measure of the percentage of revenue that exceeds the cost of goods sold (COGS). It is a useful metric for a company like JnJ because it provides insight into the profitability of its products and the efficiency of its production processes. Factors that could drive changes in gross margin for JnJ include:\n\n1. Product Mix: A shift in sales towards higher-margin products, such as specialty pharmaceuticals, can improve gross margins. Conversely, an increase in sales of lower-margin products, such as certain consumer health goods, could reduce gross margins.\n\n2. Pricing Power: If JnJ can increase prices without a corresponding increase in COGS, perhaps due to strong brand recognition or patent-protected drugs, this can lead to an improved gross margin.\n\n3. Cost of Production: Changes in the cost of raw materials, manufacturing, and labor can impact COGS. If JnJ can reduce these costs through efficiencies or economies of scale, it could see an improvement in gross margins.\n\n4. Currency Fluctuations: As a global company, JnJ is exposed to currency risks. A stronger US dollar can decrease the value of overseas sales when converted back to dollars, potentially impacting gross margins.\n\n5. Regulatory Changes: Changes in healthcare regulations can affect reimbursement rates for JnJ's products, which can, in turn, impact gross margins.\n\n6. Competition: Increased competition can lead to price pressure, which may force JnJ to lower prices or offer discounts, thus affecting gross margins.\n\n7. Innovation and R&D: The introduction of new, innovative products with better efficacy or lower production costs can improve gross margins.\n\nTo get the specific factors that drove JnJ's gross margin change in FY2022, you would need to look at the company's annual report, earnings releases, and management discussion and analysis (MD&A) for that fiscal year. These documents often provide detailed explanations of the financial performance and any significant factors affecting the company's profitability.","label":"Refusal"}
{"financebench_id":"financebench_id_00711","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Roughly how many times has JnJ sold its inventory in FY2022? Calculate inventory turnover ratio for FY2022; if conventional inventory management is not meaningful for the company then state that and explain why.","gold_answer":"JnJ sold its inventory 2.7 times in FY2022.","model_answer":"To calculate the inventory turnover ratio for Johnson & Johnson (J&J) for the fiscal year 2022, you would need two key pieces of financial information:\n\n1. Cost of Goods Sold (COGS) for FY2022.\n2. Average Inventory for FY2022.\n\nThe inventory turnover ratio is calculated using the following formula:\n\nInventory Turnover Ratio = Cost of Goods Sold \/ Average Inventory\n\nThe Cost of Goods Sold can be found on the company's income statement, and the inventory levels can be found on the balance sheets at the beginning and end of the fiscal year. The average inventory is typically calculated by adding the inventory at the beginning of the year to the inventory at the end of the year and dividing by two.\n\nHowever, as of my knowledge cutoff date in early 2023, I do not have access to Johnson & Johnson's financial statements for the fiscal year 2022. To obtain this information, you would need to look at the company's annual report (Form 10-K) for FY2022, which would be filed with the U.S. Securities and Exchange Commission (SEC) and also likely available on the company's investor relations website.\n\nIf conventional inventory management is not meaningful for Johnson & Johnson, it could be due to several reasons. For example, if the company operates with a just-in-time inventory system, holds very low inventory levels, or if the majority of its costs are not related to physical goods but rather to services or intangible goods (like pharmaceutical companies often have significant R&D costs that outweigh the costs of physical inventory), then the inventory turnover ratio might not be a significant metric for assessing the company's performance.\n\nIn the case of Johnson & Johnson, which is a large healthcare company with a diverse range of products including pharmaceuticals, medical devices, and consumer goods, inventory management is likely meaningful, but the significance of the inventory turnover ratio can vary across different segments of the business.\n\nTo get the actual inventory turnover ratio for Johnson & Johnson for FY2022, you would need to consult the latest financial data from the company's reports.","label":"Refusal"}
{"financebench_id":"financebench_id_01487","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Did JnJ's net earnings as a percent of sales increase in Q2 of FY2023 compared to Q2 of FY2022?","gold_answer":"Yes, net earnings as a percent of sales increased from 20% in Q2 of FY2022 to 20.1% in Q2 of FY2023.","model_answer":"I'm sorry, but as of my last update in early 2023, I do not have access to real-time financial data or updates that occurred after that time. To find out if Johnson & Johnson's (JnJ) net earnings as a percent of sales increased in Q2 of FY2023 compared to Q2 of FY2022, you would need to look at the company's financial results for those quarters.\n\nYou can typically find this information in the company's quarterly earnings reports, which are usually available on the investor relations section of Johnson & Johnson's website. Additionally, financial news websites, stock market analysis platforms, and the Securities and Exchange Commission (SEC) filings can provide this information.\n\nIf you are looking for the most current financial data, please check the latest resources or the company's official releases.","label":"Refusal"}
{"financebench_id":"financebench_id_01490","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the amount of the gain accruing to JnJ as a result of the separation of its Consumer Health business segment, as of August 30, 2023?","gold_answer":"JnJ will make a gain of approximately $20 billion from the separation of its Consumer Health business segment.","model_answer":"As of my last update in April 2023, I do not have real-time access to financial data or news events that occurred after that time, including specific details about Johnson & Johnson's (JnJ) financial transactions or the separation of its Consumer Health business segment. To obtain the most accurate and up-to-date information regarding the financial gain or impact of the separation on JnJ, you would need to consult the latest financial statements, press releases, or official announcements from Johnson & Johnson, or access financial news sources that cover such corporate events.\n\nFor the most current information, you can check:\n\n1. Johnson & Johnson's official website, particularly their Investor Relations section.\n2. Financial news websites like Bloomberg, Reuters, or CNBC.\n3. Securities and Exchange Commission (SEC) filings if the company is based in the United States.\n4. Any other reliable source that reports on corporate financial data and news.\n\nPlease note that the separation of a business segment can involve complex financial arrangements, and the gain or loss recognized by a company can depend on various factors, including the valuation of the separated business, the terms of the separation, and the accounting methods used.","label":"Refusal"}
{"financebench_id":"financebench_id_01491","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the amount of the cash proceeds that JnJ realised from the separation of Kenvue (formerly Consumer Health business segment), as of August 30, 2023?","gold_answer":"JnJ realised $13.2 billion in cash proceeds from the separation of Kenvue.","model_answer":"As of my last update in early 2023, I do not have real-time access to current financial transactions or market events, including the specific details of Johnson & Johnson's (JnJ) separation of its Consumer Health business segment, which was planned to be named Kenvue. To obtain the most accurate and up-to-date information regarding the cash proceeds that JnJ realized from the separation of Kenvue as of August 30, 2023, you would need to consult the latest financial disclosures from Johnson & Johnson, press releases, or financial news updates from that time. These sources would provide the official figures and details of the transaction.","label":"Refusal"}
{"financebench_id":"financebench_id_00299","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Which of JPM's business segments had the lowest net revenue in 2021 Q1?","gold_answer":"Corporate. Its net revenue was -$473 million.","model_answer":"As of my last update in early 2023, I don't have real-time access to financial data, including JPMorgan Chase & Co.'s (JPM) quarterly earnings reports. To find out which of JPMorgan Chase's business segments had the lowest net revenue in Q1 2021, you would need to refer to the company's financial results for that period.\n\nJPMorgan Chase typically breaks down its earnings into several business segments, such as Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, Asset & Wealth Management, and others.\n\nTo find the specific information, you can:\n\n1. Visit JPMorgan Chase's Investor Relations website, where they publish their quarterly earnings reports.\n2. Look for the Q1 2021 earnings release or the quarterly report (Form 10-Q) which would include a detailed breakdown of revenues by segment.\n3. Review the segment results to identify which one had the lowest net revenue for that quarter.\n\nPlease note that financial data is subject to change and updates, so it's always best to consult the most recent and official financial documents for accurate information.","label":"Refusal"}
{"financebench_id":"financebench_id_02119","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"If JPM went bankrupted by the end by 2021 Q1 and liquidated all of its assets to pay its shareholders, how much could each shareholder get?","gold_answer":"They could receive $66.56 per share.","model_answer":"As of my last update in early 2023, JPMorgan Chase & Co. (JPM) had not gone bankrupt by the end of Q1 2021. However, to answer your hypothetical question, we would need to know the total value of JPMorgan Chase's assets at the time of bankruptcy, the total liabilities that would need to be settled before any distribution to shareholders, and the number of outstanding shares.\n\nIn a bankruptcy scenario, the company's assets would be liquidated to pay off creditors first, according to the priority of their claims. Shareholders, as the last to be paid in the hierarchy of claims, would only receive payment after all creditors, including bondholders and other debt holders, were paid.\n\nTo calculate how much each shareholder could get, you would follow these steps:\n\n1. Determine the total liquidation value of all JPMorgan Chase's assets.\n2. Subtract the total liabilities from the total assets to find the residual value.\n3. Divide the residual value by the total number of outstanding shares.\n\nThe formula would look like this:\n\nShareholder payout = (Total assets - Total liabilities) \/ Number of outstanding shares\n\nWithout the specific financial data from the end of Q1 2021, it's impossible to provide an exact figure. You would need to look at JPMorgan Chase's balance sheet from that period to find the necessary numbers. Keep in mind that in a real-world bankruptcy, asset liquidation often yields less than book value due to the urgency of the sales and market conditions, and there may be additional administrative and legal costs that further reduce the amount available for distribution to shareholders.","label":"Refusal"}
{"financebench_id":"financebench_id_00394","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"In 2022 Q2, which of JPM's business segments had the highest net income?","gold_answer":"Corporate & Investment Bank. Its net income was $3725 million.","model_answer":"As of my last update in early 2023, I don't have real-time access to financial data, including JPMorgan Chase & Co.'s (JPM) quarterly earnings reports. To find out which of JPM's business segments had the highest net income in Q2 2022, you would need to look at the company's quarterly earnings report for that period.\n\nJPMorgan Chase typically breaks down its earnings into several business segments, such as Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, Asset & Wealth Management, and others. The earnings report would provide detailed financial statements and management discussion that analyze the performance of each segment, including their net income.\n\nYou can find this information on JPMorgan Chase's investor relations website or through financial news outlets and databases that track corporate earnings. If you need the latest information, please check the most recent sources available.","label":"Refusal"}
{"financebench_id":"financebench_id_02049","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Looking at VaR, did the risk that JPM faced in the second fiscal quarter of 2023 decrease compared to the same period in the prior year?","gold_answer":"Yes. It decreased.","model_answer":"As an AI, I don't have access to real-time data or the ability to provide current financial analysis. To determine whether the Value at Risk (VaR) for JPMorgan Chase & Co. (JPM) decreased in the second fiscal quarter of 2023 compared to the same period in the prior year, you would need to look at the company's financial reports, specifically the quarterly filings with the U.S. Securities and Exchange Commission (SEC), such as the 10-Q form.\n\nThe VaR is a statistical measure used to assess the level of financial risk within a firm or investment portfolio over a specific time frame. It estimates the maximum potential loss with a given confidence level (e.g., 95% or 99%) over that period.\n\nTo compare the VaR from one period to another, you would:\n\n1. Obtain the relevant financial reports for the second fiscal quarter of 2023 and the same quarter in the prior year.\n2. Look for the section in the reports that discusses market risk, which typically includes the VaR figures.\n3. Compare the VaR figures reported for both periods to see if there has been a decrease or increase.\n\nIf the VaR figure for the second fiscal quarter of 2023 is lower than that of the same period in the prior year, it would suggest that the risk faced by JPM decreased. However, it's important to note that VaR is just one measure of risk and does not capture all types of financial risk. Additionally, changes in VaR could be due to various factors, including changes in market conditions, portfolio composition, risk management strategies, or the level of risk the firm is willing to accept.\n\nFor the most accurate and up-to-date information, you should consult the latest financial disclosures from JPMorgan Chase & Co. or other reliable financial news sources.","label":"Refusal"}
{"financebench_id":"financebench_id_10499","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is Kraft Heinz's FY2019 inventory turnover ratio? Inventory turnover ratio is defined as: (FY2019 COGS) \/ (average inventory between FY2018 and FY2019). Round your answer to two decimal places. Please base your judgments on the information provided primarily in the balance sheet and the P&L statement.","gold_answer":6.25,"model_answer":"To calculate the inventory turnover ratio for Kraft Heinz for the fiscal year 2019, we need two pieces of information: the cost of goods sold (COGS) for FY2019 and the average inventory between FY2018 and FY2019. These figures are typically found in a company's financial statements, specifically the income statement (for COGS) and the balance sheet (for inventory).\n\nSince I don't have access to real-time or updated databases, I can't provide the current figures for Kraft Heinz's FY2019 COGS or inventory. However, I can guide you on how to calculate the inventory turnover ratio if you have the necessary financial statements:\n\n1. Locate the COGS for FY2019 on the income statement.\n2. Find the inventory values for the end of FY2018 and FY2019 on the balance sheet.\n3. Calculate the average inventory using the following formula:\n   Average Inventory = (Inventory at the end of FY2018 + Inventory at the end of FY2019) \/ 2\n4. Finally, calculate the inventory turnover ratio using the formula you provided:\n   Inventory Turnover Ratio = FY2019 COGS \/ Average Inventory\n\nOnce you have the COGS and the average inventory, you can plug those numbers into the formula and calculate the ratio. Remember to round your answer to two decimal places as requested.\n\nIf you can provide the COGS for FY2019 and the inventory values for the end of FY2018 and FY2019, I can help you calculate the inventory turnover ratio. Otherwise, you would need to refer to Kraft Heinz's financial statements to obtain these figures.","label":"Refusal"}
{"financebench_id":"financebench_id_04412","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"We need to calculate a reasonable approximation (or exact number if possible) of a financial metric. Basing your judgment by information plainly provided in the balance sheet and the P&L statement, what is Lockheed Martin's FY2020 asset turnover ratio? Asset turnover ratio is defined as: FY2020 revenue \/ (average total assets between FY2019 and FY2020). Round your answer to two decimal places.","gold_answer":1.33,"model_answer":"To calculate Lockheed Martin's FY2020 asset turnover ratio, we need two pieces of information:\n\n1. FY2020 revenue (from the P&L statement)\n2. Average total assets between FY2019 and FY2020 (from the balance sheet)\n\nSince I don't have access to real-time data or databases, I can't provide the current figures for Lockheed Martin. However, I can guide you on how to calculate the asset turnover ratio using the formula you provided:\n\nAsset Turnover Ratio = FY2020 Revenue \/ Average Total Assets (FY2019 and FY2020)\n\nHere's how you would do it:\n\n1. Locate the FY2020 revenue on Lockheed Martin's income statement (P&L statement).\n2. Find the total assets for FY2019 and FY2020 on the balance sheet.\n3. Calculate the average total assets by adding the total assets for FY2019 and FY2020 and then dividing by 2.\n4. Divide the FY2020 revenue by the average total assets to get the asset turnover ratio.\n5. Round the result to two decimal places.\n\nFor example, if Lockheed Martin's FY2020 revenue was $60 billion, and the total assets for FY2019 were $50 billion and for FY2020 were $55 billion, the calculation would be:\n\nAverage Total Assets = ($50 billion + $55 billion) \/ 2 = $52.5 billion\n\nAsset Turnover Ratio = $60 billion \/ $52.5 billion \u2248 1.14\n\nSo, the asset turnover ratio would be approximately 1.14 when rounded to two decimal places.\n\nPlease use the actual figures from Lockheed Martin's financial statements to perform this calculation for an accurate result.","label":"Refusal"}
{"financebench_id":"financebench_id_03031","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is Lockheed Martin's FY2021 net working capital? Define net working capital as total current assets less total current liabilities. Answer in USD millions. Respond to the question by assuming the perspective of an investment analyst who can only use the details shown within the balance sheet.","gold_answer":5818,"model_answer":"As an AI developed by OpenAI, I don't have real-time access to databases or financial statements. To determine Lockheed Martin's FY2021 net working capital, you would need to look at the company's balance sheet for the fiscal year 2021. The net working capital is calculated by subtracting total current liabilities from total current assets.\n\nHere's the formula:\n\nNet Working Capital = Total Current Assets - Total Current Liabilities\n\nTo find these figures, you would typically refer to Lockheed Martin's 2021 annual report or 10-K filing with the Securities and Exchange Commission (SEC). These documents are publicly available and can be found on the company's investor relations website or through the SEC's EDGAR database.\n\nOnce you have the balance sheet in front of you, locate the total current assets and total current liabilities, and perform the subtraction as per the formula above. The result will give you the net working capital in millions of USD, assuming the figures are presented in millions.\n\nIf you have the balance sheet and provide me with the relevant figures, I can certainly help you calculate the net working capital. Otherwise, you would need to access the financial statements yourself to obtain this information.","label":"Refusal"}
{"financebench_id":"financebench_id_03718","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is Lockheed Martin's 2 year total revenue CAGR from FY2020 to FY2022 (in units of percents and round to one decimal place)? Provide a response to the question by primarily using the statement of income.","gold_answer":0.004,"model_answer":"To calculate Lockheed Martin's 2-year total revenue Compound Annual Growth Rate (CAGR) from FY2020 to FY2022, we need to know the company's total revenue for those fiscal years. The CAGR formula is:\n\nCAGR = (Ending Value \/ Beginning Value)^(1\/n) - 1\n\nwhere:\n- Ending Value is the revenue at the end of the period (FY2022).\n- Beginning Value is the revenue at the beginning of the period (FY2020).\n- n is the number of years (in this case, 2 years).\n\nLet's assume that the total revenue for FY2020 and FY2022 are R2020 and R2022, respectively. The CAGR calculation would be:\n\nCAGR = (R2022 \/ R2020)^(1\/2) - 1\n\nTo provide the exact CAGR, I would need the actual revenue figures for FY2020 and FY2022 from Lockheed Martin's financial statements. Since I don't have access to real-time or updated data beyond my knowledge cutoff date, I cannot provide the current figures.\n\nHowever, you can calculate the CAGR by obtaining the total revenue for FY2020 and FY2022 from Lockheed Martin's income statements and plugging those values into the formula. Once you have the CAGR as a decimal, you can convert it to a percentage by multiplying by 100 and then round it to one decimal place.","label":"Refusal"}
{"financebench_id":"financebench_id_04171","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Basing your judgments off of the balance sheet, what is the year end FY2018 amount of accounts payable for MGM Resorts? Answer in USD millions.","gold_answer":303,"model_answer":"To answer your question, I would need access to the financial statements of MGM Resorts for the fiscal year ending in 2018. Since I cannot browse the internet or access real-time data, I cannot provide the exact figure for the year-end accounts payable for MGM Resorts for FY2018.\n\nHowever, you can find this information in the company's 2018 annual report or Form 10-K, which is filed with the U.S. Securities and Exchange Commission (SEC). These documents are publicly available on the SEC's EDGAR database or on MGM Resorts' investor relations website. Once you have the report, you can look at the balance sheet to find the accounts payable figure under current liabilities, which will be stated in millions of USD.","label":"Refusal"}
{"financebench_id":"financebench_id_03849","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2018 - FY2020 3 year average of capex as a % of revenue for MGM Resorts? Answer in units of percents and round to one decimal place. Please utilize information provided primarily within the statement of cash flows and the statement of income.","gold_answer":0.079,"model_answer":"To calculate the 3-year average of capital expenditures (CapEx) as a percentage of revenue for MGM Resorts for the fiscal years 2018 to 2020, we would need to have the actual financial data from MGM Resorts' financial statements for those years. Specifically, we would need the total revenue and capital expenditures from the statement of income (also known as the income statement) and the statement of cash flows, respectively.\n\nThe formula to calculate CapEx as a percentage of revenue for each year is:\n\nCapEx as % of Revenue = (Capital Expenditures \/ Total Revenue) * 100\n\nOnce we have this percentage for each of the three years, we can calculate the average as follows:\n\n3-Year Average CapEx as % of Revenue = (CapEx as % of Revenue in 2018 + CapEx as % of Revenue in 2019 + CapEx as % of Revenue in 2020) \/ 3\n\nSince I do not have access to MGM Resorts' actual financial data, I cannot perform this calculation. To find this information, you would need to look at MGM Resorts' annual reports or 10-K filings for the fiscal years 2018, 2019, and 2020. These documents are publicly available and can typically be found on the company's investor relations website or through the U.S. Securities and Exchange Commission's EDGAR database.\n\nOnce you have the necessary figures, you can perform the calculations as described above and round the final average to one decimal place to express it in units of percent.","label":"Refusal"}
{"financebench_id":"financebench_id_00382","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Which region had the Highest EBITDAR Contribution for MGM during FY2022?","gold_answer":"Las Vegas resorts contributed ~90% of company level EBITDAR during FY2022.","model_answer":"As of my last update, I do not have access to real-time or the most recent financial data, including MGM Resorts International's financial performance for FY2022. To find out which region had the highest EBITDAR (Earnings Before Interest, Taxes, Depreciation, Amortization, and Restructuring or Rent Costs) contribution for MGM during FY2022, you would need to consult the company's latest financial reports or earnings releases.\n\nMGM Resorts International typically publishes its financial results in quarterly earnings reports and an annual report, which include detailed breakdowns of financial performance by region and other relevant metrics. These reports are publicly available on the company's investor relations website. Additionally, financial news outlets, analysts' reports, and press releases may also provide insights into the company's financial performance, including EBITDAR contributions by region.","label":"Refusal"}
{"financebench_id":"financebench_id_01912","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Which region had the worst topline performance for MGM during FY2022?","gold_answer":"MGM China experienced the worst topline performance amongst the other regions presented. Its revenue declined 44% in FY2022 whereas the other regions presented increased their revenues.","model_answer":"As of my last update, I do not have access to real-time or proprietary databases, and therefore I cannot provide the specific financial performance details for MGM Resorts International or any other company for FY2022. To find out which region had the worst topline performance for MGM during FY2022, you would need to consult the company's official financial statements, investor relations materials, or financial reporting platforms that have access to the latest company data.\n\nMGM Resorts International typically publishes annual reports, earnings releases, and other investor materials on its official website. These documents would include detailed financial information, including revenue performance by region. You can review the company's latest annual report or earnings release for the fiscal year in question to determine the performance of different regions where MGM operates.","label":"Refusal"}
{"financebench_id":"financebench_id_01911","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What was MGM's interest coverage ratio using FY2022 Adjusted EBIT as the numerator and annual Interest Expense as the denominator?","gold_answer":"As adjusted EBIT is negative, coverage ratio is zero","model_answer":"As of my last update in early 2023, I do not have access to real-time or the most recent financial data, including MGM Resorts International's financial statements for the fiscal year 2022. To calculate the interest coverage ratio for MGM or any other company, you would typically follow these steps:\n\n1. Obtain the Adjusted EBIT (Earnings Before Interest and Taxes) for the fiscal year 2022 from MGM's financial statements or earnings reports.\n2. Obtain the annual interest expense for the same period from the same sources.\n3. Calculate the interest coverage ratio by dividing the Adjusted EBIT by the annual interest expense.\n\nThe formula is:\n\nInterest Coverage Ratio = Adjusted EBIT \/ Interest Expense\n\nTo find the specific figures for MGM's FY2022 Adjusted EBIT and annual Interest Expense, you would need to look at the company's income statement and notes to the financial statements in their 2022 annual report or 10-K filing with the Securities and Exchange Commission (SEC). These documents are publicly available on the SEC's EDGAR database or MGM's investor relations website.\n\nOnce you have the necessary figures, you can perform the calculation to determine MGM's interest coverage ratio for FY2022. If you have access to the required financial data, you can use the formula above to calculate the ratio.","label":"Refusal"}
{"financebench_id":"financebench_id_00407","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Which type of debt received the largest investment among the short term investments for MGM in H1 FY2023?","gold_answer":"the biggest short term investment is in corporate bonds (almost 82% of the total investment)","model_answer":"I'm sorry, but as of my last update in early 2023, I do not have access to real-time financial data or the ability to provide current financial information for specific companies such as MGM Resorts International or any other. To find out which type of debt received the largest investment among the short-term investments for MGM in the first half of the fiscal year 2023, you would need to review the company's financial statements for that period.\n\nThese details are typically disclosed in the quarterly reports (10-Q) or the annual report (10-K) filed with the U.S. Securities and Exchange Commission (SEC). You can access these reports on the SEC's EDGAR database or on MGM's investor relations website. Look for the balance sheet and notes to the financial statements, which will provide a breakdown of the company's short-term investments and may specify the types of debt securities held.","label":"Refusal"}
{"financebench_id":"financebench_id_04700","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2016 COGS for Microsoft? Please state answer in USD millions. Provide a response to the question by primarily using the statement of income.","gold_answer":32780,"model_answer":"To find the Cost of Goods Sold (COGS) for Microsoft for the fiscal year 2016, you would typically refer to Microsoft's annual report (Form 10-K) for that year, specifically the income statement (also known as the statement of operations). The income statement provides detailed information about a company's revenues and expenses, including COGS, for a particular period.\n\nAs of my knowledge cutoff date in early 2023, I don't have access to real-time databases or the ability to fetch live data. However, I can guide you on how to find this information:\n\n1. Visit Microsoft's Investor Relations website or search for Microsoft's 2016 Form 10-K.\n2. Navigate to the Financials section and locate the 2016 Annual Report.\n3. Open the report and look for the Consolidated Statements of Income (or Operations).\n4. Find the line item for COGS or Cost of Revenue for the fiscal year 2016.\n\nThe COGS will be listed in millions or billions of USD, depending on the presentation format used in the report. If you have access to the report and can find the income statement, you should be able to locate the COGS figure for FY2016.\n\nPlease note that Microsoft's fiscal year runs from July 1 to June 30, so FY2016 would cover the period from July 1, 2015, to June 30, 2016. If you are unable to find the report or need the exact figure, you may need to perform an online search or consult a financial database that has historical financial statements for Microsoft.","label":"Refusal"}
{"financebench_id":"financebench_id_00552","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Has Microsoft increased its debt on balance sheet between FY2023 and the FY2022 period?","gold_answer":"No. Microsoft decreased its debt by $2.5bn in FY 2023 vs FY 2022.","model_answer":"As of my last update, I do not have access to real-time financial data or updates beyond my knowledge cutoff date in early 2023. To determine whether Microsoft has increased its debt on the balance sheet between FY2023 and FY2022, you would need to look at the company's most recent annual report (Form 10-K) or quarterly reports (Form 10-Q) filed with the U.S. Securities and Exchange Commission (SEC).\n\nThese documents provide detailed financial information, including the balance sheet, which shows the company's liabilities and debt levels at specific points in time. By comparing the debt figures reported for FY2023 with those from FY2022, you can determine if there has been an increase.\n\nTo access the latest financial reports from Microsoft:\n\n1. Visit the Microsoft Investor Relations website.\n2. Navigate to the \"Financials\" section, where you can find annual and quarterly reports.\n3. Look for the balance sheet data within the latest Form 10-K (for annual data) or Form 10-Q (for quarterly data).\n4. Compare the \"Short-term debt\" and \"Long-term debt\" figures between FY2023 and FY2022.\n\nAlternatively, you can also find these filings on the SEC's EDGAR database. Keep in mind that financial analysis often requires an understanding of the context behind the numbers, such as changes in corporate strategy, investment in new projects, refinancing of existing debt, or broader economic conditions.","label":"Refusal"}
{"financebench_id":"financebench_id_04458","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"We want to calculate a financial metric. Please help us compute it by basing your answers off of the statement of income and the statement of cash flows. Here's the question: what is the FY2015 unadjusted EBITDA % margin for Netflix? Calculate unadjusted EBITDA using unadjusted operating income and D&A (from cash flow statement).","gold_answer":0.054,"model_answer":"To calculate the unadjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) percentage margin for Netflix for the fiscal year 2015, we need to follow these steps:\n\n1. Identify the unadjusted operating income from the income statement for FY2015.\n2. Identify the depreciation and amortization (D&A) expenses from the cash flow statement for FY2015.\n3. Add the D&A expenses to the unadjusted operating income to get the unadjusted EBITDA.\n4. Identify the total revenue from the income statement for FY2015.\n5. Divide the unadjusted EBITDA by the total revenue and multiply by 100 to get the EBITDA percentage margin.\n\nHowever, as I do not have access to real-time or historical financial data for Netflix or any other company, I cannot provide the actual numbers for these calculations. To compute the EBITDA % margin, you would need to look up Netflix's financial statements for FY2015 and extract the necessary figures.\n\nOnce you have the figures, the calculation would look something like this:\n\nUnadjusted EBITDA = Unadjusted Operating Income + Depreciation & Amortization\nEBITDA % Margin = (Unadjusted EBITDA \/ Total Revenue) x 100\n\nPlease provide the relevant figures from Netflix's FY2015 financial statements, and I can assist you with the calculation.","label":"Refusal"}
{"financebench_id":"financebench_id_03282","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is Netflix's year end FY2017 total current liabilities (in USD millions)? Base your judgments on the information provided primarily in the balance sheet.","gold_answer":5466,"model_answer":"As of my last update, I do not have real-time access to financial databases or specific company financial statements. To find Netflix's year-end FY2017 total current liabilities in USD millions, you would need to look at the company's financial statements, specifically the balance sheet, for the fiscal year ending in 2017.\n\nThese financial statements are typically found in the company's annual report (Form 10-K) filed with the U.S. Securities and Exchange Commission (SEC). You can access these reports on the SEC's EDGAR database or on Netflix's investor relations website.\n\nOnce you have the balance sheet in front of you, look for the \"Current Liabilities\" section. This section will list all liabilities that are due within one year, including items such as accounts payable, short-term debt, accrued liabilities, and other similar obligations. The total at the bottom of this section will give you the total current liabilities for Netflix at the end of FY2017.\n\nIf you need the exact figure and do not have access to the financial statements, I recommend checking the aforementioned sources or using financial data platforms that provide historical financial information for publicly traded companies.","label":"Refusal"}
{"financebench_id":"financebench_id_04302","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"We need to calculate a reasonable approximation (or exact number if possible) of a financial metric. Basing your judgment by information plainly provided in the statement of income, what is Nike's three year average of cost of goods sold as a % of revenue from FY2016 to FY2018? Answer in units of percents and round to one decimal place.","gold_answer":0.551,"model_answer":"To calculate Nike's three-year average of cost of goods sold (COGS) as a percentage of revenue from FY2016 to FY2018, you would need to have the actual income statements for those fiscal years. Since I don't have access to real-time or updated databases, I can't provide the current figures.\n\nHowever, I can guide you on how to calculate it if you have the income statements:\n\n1. For each fiscal year (FY2016, FY2017, and FY2018), find the revenue and the cost of goods sold (COGS). These figures are typically listed on the income statement.\n\n2. Calculate the COGS as a percentage of revenue for each year by using the formula:\n   COGS Percentage = (COGS \/ Revenue) x 100\n\n3. Once you have the COGS percentage for each year, add them together and then divide by 3 to get the average:\n   Three-Year Average COGS Percentage = (COGS Percentage FY2016 + COGS Percentage FY2017 + COGS Percentage FY2018) \/ 3\n\n4. Round the result to one decimal place.\n\nFor example, if the COGS percentages for the three years were 60.0%, 61.5%, and 59.5%, the calculation would be:\n   Three-Year Average COGS Percentage = (60.0 + 61.5 + 59.5) \/ 3\n   Three-Year Average COGS Percentage = 181 \/ 3\n   Three-Year Average COGS Percentage = 60.3%\n\nSo, the three-year average COGS as a percentage of revenue would be 60.3%.\n\nPlease provide the actual figures from Nike's income statements for FY2016, FY2017, and FY2018, and I can perform the calculation for you.","label":"Refusal"}
{"financebench_id":"financebench_id_03531","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"According to the details clearly outlined within the balance sheet, how much total current assets did Nike have at the end of FY2019? Answer in USD millions.","gold_answer":16525,"model_answer":"I'm sorry, but as an AI, I don't have real-time access to external databases or the ability to pull up current documents such as Nike's financial statements. To find the total current assets that Nike had at the end of its fiscal year 2019, you would need to look at the company's balance sheet from its 2019 annual report (Form 10-K).\n\nYou can typically find this information on Nike's investor relations website or through financial databases and platforms that provide company financials. Once you have the report, you can check the balance sheet section for the line item \"Total Current Assets,\" which will give you the figure in USD millions.\n\nIf you have access to the report and can provide the figure, I can certainly help explain what it means or how it might be interpreted in the context of Nike's financial health.","label":"Refusal"}
{"financebench_id":"financebench_id_04080","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"When primarily referencing the income statement and the statement of financial position, what is the FY2021 inventory turnover ratio for Nike? Inventory turnover ratio is defined as: (FY2021 COGS) \/ (average inventory between FY2020 and FY2021). Round your answer to two decimal places.","gold_answer":3.46,"model_answer":"To calculate the inventory turnover ratio for Nike for the fiscal year 2021, we would need the following data from Nike's financial statements:\n\n1. Cost of Goods Sold (COGS) for FY2021.\n2. Inventory at the end of FY2020.\n3. Inventory at the end of FY2021.\n\nThe formula for inventory turnover ratio is:\n\nInventory Turnover Ratio = COGS \/ Average Inventory\n\nWhere Average Inventory is calculated as:\n\nAverage Inventory = (Inventory at the end of FY2020 + Inventory at the end of FY2021) \/ 2\n\nSince I don't have access to real-time or updated data, I cannot provide the current figures for Nike's FY2021 COGS or inventory levels. You would need to look up Nike's financial statements, specifically the income statement for the COGS and the balance sheet for the inventory levels at the end of FY2020 and FY2021.\n\nOnce you have those figures, you can calculate the inventory turnover ratio using the formula provided. If you can provide the necessary figures, I can assist you with the calculation. Otherwise, you would need to refer to Nike's financial reports or a financial database to obtain the required information.","label":"Refusal"}
{"financebench_id":"financebench_id_01163","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Among operations, investing, and financing activities, which brought in the most (or lost the least) cash flow for Nike in FY2023?","gold_answer":"Among the three, cash flow from operations was the highest for Nike in FY2023.","model_answer":"As of my last update in early 2023, I do not have access to real-time data or financial statements released after that time. To determine which activity\u2014operations, investing, or financing\u2014brought in the most or lost the least cash flow for Nike in FY2023, you would need to review Nike's financial statements for that fiscal year.\n\nTypically, this information can be found in the Cash Flow Statement section of Nike's annual report (Form 10-K) or quarterly reports (Form 10-Q), which are publicly available on Nike's investor relations website or through the U.S. Securities and Exchange Commission's EDGAR database.\n\nOnce you have access to the Cash Flow Statement, you can compare the net cash provided by (or used in) operating activities, investing activities, and financing activities to determine which had the most positive impact on Nike's cash flow for FY2023. Generally, for most companies, operating activities tend to generate the most consistent positive cash flow, but this can vary depending on the company's specific circumstances and strategic decisions made during the fiscal year.","label":"Refusal"}
{"financebench_id":"financebench_id_00080","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Does Paypal have positive working capital based on FY2022 data? If working capital is not a useful or relevant metric for this company, then please state that and explain why.","gold_answer":"Yes. Paypal has a positive working capital of $ 1.6Bn as of FY2022 end.","model_answer":"As of my last update in early 2023, I do not have access to real-time financial data or the specific financial statements for PayPal for the fiscal year 2022. To determine if PayPal has positive working capital for FY2022, you would need to look at their most recent balance sheet from their annual report or 10-K filing with the Securities and Exchange Commission (SEC).\n\nWorking capital is calculated as current assets minus current liabilities. If PayPal's current assets exceed their current liabilities, then they would have positive working capital.\n\nHowever, it's important to note that for some companies, especially those in the technology or service sectors like PayPal, working capital may not be the most relevant metric for assessing financial health. This is because such companies may not have significant physical inventory (which is a major component of current assets for manufacturing firms) and may have different business models that rely more on intangible assets or capital-light operations.\n\nFor companies like PayPal, which operates in the digital payments space, liquidity and cash flows from operations, along with metrics like user growth, transaction volume, and payment margins, might be more relevant indicators of financial health and performance.\n\nTo get the most accurate and up-to-date information on PayPal's working capital and financial health for FY2022, you should refer to their latest financial statements, which can typically be found on their investor relations website or through the SEC's EDGAR database.","label":"Refusal"}
{"financebench_id":"financebench_id_04980","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2021 capital expenditure amount (in USD billions) for PepsiCo? Respond to the question by assuming the perspective of an investment analyst who can only use the details shown within the statement of cash flows.","gold_answer":4.6,"model_answer":"As an investment analyst, I would refer to PepsiCo's financial statements to find the capital expenditure amount for FY2021. The capital expenditure, often referred to as CapEx, is typically reported in the cash flow statement under the section of investing activities. It is usually listed as \"purchases of property, plant, and equipment,\" \"capital expenditures,\" or a similarly titled line item.\n\nSince I do not have access to real-time databases or PepsiCo's actual financial statements as of my knowledge cutoff date, I cannot provide the exact figure. However, to find the FY2021 capital expenditure amount for PepsiCo, you would need to:\n\n1. Access PepsiCo's 2021 annual report or 10-K filing.\n2. Navigate to the consolidated statement of cash flows.\n3. Look under the \"Cash Flows from Investing Activities\" section.\n4. Identify the line item that represents capital expenditures (e.g., \"purchases of property, plant, and equipment\").\n5. The figure next to this line item will represent the capital expenditure in USD billions for FY2021.\n\nPlease obtain the most recent financial statements from PepsiCo's investor relations website or a financial data provider to find the exact number.","label":"Refusal"}
{"financebench_id":"financebench_id_01009","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What are the geographies that Pepsico primarily operates in as of FY2022?","gold_answer":"As of FY2022, Pepsico primarily operates in the following geographies: North America, Latin America, Europe, Africa, Middle East, South Asia, Asia Pacific, Australia, New Zealand and China.","model_answer":"As of my last update in early 2023, PepsiCo is a global food and beverage leader with a product portfolio that includes 23 brands that generate more than $1 billion each in annual retail sales. The company primarily operates in the following geographies:\n\n1. North America: PepsiCo has a significant presence in North America, which includes both the United States and Canada. The company operates through various divisions such as Frito-Lay North America, Quaker Foods North America, and PepsiCo Beverages North America.\n\n2. Latin America: PepsiCo's Latin American operations include a wide range of snack and beverage products across countries in Central and South America, as well as the Caribbean.\n\n3. Europe: PepsiCo's European sector covers a vast region that includes both Western and Eastern Europe, offering a variety of products from snacks to beverages.\n\n4. Africa, Middle East, and South Asia (AMESA): This segment includes a diverse set of markets with a wide range of product offerings tailored to local tastes and preferences.\n\n5. Asia Pacific, Australia, New Zealand, and China Region (APAC): PepsiCo operates in several countries across the Asia Pacific region, including China, which is a significant market for the company.\n\nPepsiCo's global reach extends to more than 200 countries and territories around the world, and the company adapts its product offerings to cater to the diverse tastes and preferences of the local markets it serves. For the most current and detailed information about PepsiCo's operations and geographic segments, it would be best to refer to the company's latest annual report or its official website.","label":"Refusal"}
{"financebench_id":"financebench_id_04481","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2022 unadjusted EBITDA % margin for PepsiCo? Calculate unadjusted EBITDA using unadjusted operating income and D&A (from cash flow statement). Give a response to the question by relying on the details shown in the statement of cash flows and the P&L statement.","gold_answer":0.165,"model_answer":"To calculate the unadjusted EBITDA % margin for PepsiCo for FY2022, we would need the following information from PepsiCo's financial statements:\n\n1. Unadjusted Operating Income (from the P&L statement)\n2. Depreciation & Amortization (D&A) expense (from the cash flow statement)\n\nThe formula for unadjusted EBITDA is:\nEBITDA = Operating Income + Depreciation & Amortization\n\nThe EBITDA margin is calculated as:\nEBITDA Margin % = (EBITDA \/ Total Revenue) * 100\n\nSince I don't have access to real-time or updated financial data, I cannot provide the actual figures for PepsiCo's FY2022. However, I can guide you on how to calculate it if you have the financial statements:\n\n1. Locate the unadjusted operating income on the P&L statement (also known as the income statement or statement of operations).\n2. Find the total depreciation and amortization expense on the cash flow statement, typically listed under the cash flows from operating activities section.\n3. Add the operating income and D&A expenses together to get the unadjusted EBITDA.\n4. Find the total revenue on the P&L statement.\n5. Divide the unadjusted EBITDA by the total revenue and multiply by 100 to get the EBITDA margin percentage.\n\nPlease refer to the latest PepsiCo financial statements for FY2022 to find the necessary figures and perform the calculation. If you provide the specific numbers, I can assist you with the calculation.","label":"Refusal"}
{"financebench_id":"financebench_id_03620","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2022 unadjusted EBITDA less capex for PepsiCo? Define unadjusted EBITDA as unadjusted operating income + depreciation and amortization [from cash flow statement]. Answer in USD millions. Respond to the question by assuming the perspective of an investment analyst who can only use the details shown within the statement of cash flows and the income statement.","gold_answer":9068,"model_answer":"As an AI developed by OpenAI, I don't have real-time access to financial databases or the latest financial statements of companies. To answer your question about PepsiCo's FY2022 unadjusted EBITDA less capex, you would need to look at PepsiCo's financial statements for the fiscal year 2022, specifically the income statement and the statement of cash flows.\n\nHere's how you would calculate the unadjusted EBITDA less capex:\n\n1. **Unadjusted Operating Income**: This figure is typically found on the income statement. It is the profit from operations before interest and taxes.\n\n2. **Depreciation and Amortization**: This figure is usually found in the cash flow statement under the section of cash flows from operating activities. It is a non-cash expense that reflects the gradual wear and tear of assets or the reduction in value of intangible assets.\n\n3. **Capital Expenditures (Capex)**: This is also found in the cash flow statement under the section of cash flows from investing activities. It represents the money spent by the company to acquire or maintain physical assets such as property, industrial buildings, or equipment.\n\nTo calculate unadjusted EBITDA, you would add the unadjusted operating income to the depreciation and amortization expenses. To find the unadjusted EBITDA less capex, you would then subtract the capital expenditures from the unadjusted EBITDA.\n\nThe formula would look like this:\n\nUnadjusted EBITDA less Capex = (Unadjusted Operating Income + Depreciation and Amortization) - Capital Expenditures\n\nSince I don't have the actual numbers, you would need to refer to PepsiCo's FY2022 financial statements to get the required figures and perform the calculation. If you have access to these documents, you can follow the steps above to find the answer in USD millions.","label":"Refusal"}
{"financebench_id":"financebench_id_01328","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the quantity of restructuring costs directly outlined in Pepsico's income statements for FY2022? If restructuring costs are not explicitly outlined then state 0.","gold_answer":"Pepsico's restructuring costs in FY2022 amounted to $411 million .","model_answer":"As of my last update in early 2023, I do not have access to real-time databases or the ability to fetch live data, including the most recent financial statements from companies like PepsiCo. To find the quantity of restructuring costs directly outlined in PepsiCo's income statements for FY2022, you would need to look at the company's official financial documents for that year.\n\nPepsiCo typically publishes its financial statements in its annual report and on its investor relations website. You can find this information by:\n\n1. Visiting the PepsiCo Investor Relations website.\n2. Looking for the latest annual report or Form 10-K filing for the fiscal year 2022.\n3. Checking the income statement and notes to the financial statements for any line items or notes related to restructuring costs.\n\nIf restructuring costs are a significant item, they may be listed as a separate line item on the income statement. If they are not significant or not incurred, the line item might not appear, and the costs could be included in other operating expenses or detailed in the notes to the financial statements.\n\nPlease consult the latest financial documents from PepsiCo for the most accurate and up-to-date information.","label":"Refusal"}
{"financebench_id":"financebench_id_00735","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Has Pepsico reported any materially important ongoing legal battles from FY2022 and FY2021?","gold_answer":"No, Pepsico is not involved in material legal battles.","model_answer":"As of my last update in early 2023, I do not have access to real-time data or the ability to provide the latest updates on PepsiCo's legal matters. For the most accurate and up-to-date information on any ongoing legal battles that PepsiCo may have reported for fiscal years 2021 and 2022, you should refer to the company's official filings with the Securities and Exchange Commission (SEC), such as the 10-K and 10-Q reports, press releases, and other investor relations materials.\n\nPepsiCo, like many large corporations, may be involved in various legal proceedings as part of its normal business operations. These can include intellectual property disputes, employment issues, product liability claims, antitrust claims, and other regulatory matters. The company's annual and quarterly reports typically include a section that discusses legal proceedings and any material legal issues the company is facing.\n\nTo find the most current information, you can visit the SEC's EDGAR database to search for PepsiCo's filings or check the Investor Relations section of PepsiCo's website. If you require legal advice or detailed analysis of PepsiCo's legal matters, it is recommended to consult with a legal professional or a financial advisor.","label":"Refusal"}
{"financebench_id":"financebench_id_01476","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"As of FY2023Q1, by how many percentage points did Pepsico raise full year guidance in respect of core constant currency EPS growth?","gold_answer":"Pepsico raised full year guidance in respect of core constant currency EPS growth by 1 percentage point.","model_answer":"As of my last update, I do not have real-time access to financial reports or the latest company guidance updates. To find out by how many percentage points PepsiCo raised its full-year guidance in respect of core constant currency EPS growth for FY2023Q1, you would need to check the most recent financial statements, press releases, or investor relations communications from PepsiCo.\n\nYou can typically find this information on the PepsiCo investor relations website or through financial news outlets that cover the company's earnings reports and guidance updates. If you're looking for the most current information, I recommend checking these sources directly.","label":"Refusal"}
{"financebench_id":"financebench_id_01474","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"As of FY2023Q1, why did Pepsico raise full year guidance for FY2023?","gold_answer":"Pepsico experienced a strong start to FY2023.","model_answer":"As of my last update in early 2023, I don't have real-time data or the ability to provide the latest financial updates for companies like PepsiCo. However, companies typically raise their full-year guidance for a variety of reasons, which may include:\n\n1. **Strong Performance**: If PepsiCo experienced stronger-than-expected sales and revenue in the first quarter, it might raise its guidance for the full year.\n\n2. **Market Expansion**: The company may have successfully entered new markets or expanded its product lines, leading to an increase in projected revenues.\n\n3. **Cost Savings**: Implementation of cost-saving measures that are more effective than initially anticipated could lead to higher profit projections.\n\n4. **Strategic Acquisitions**: If PepsiCo made strategic acquisitions that are expected to contribute positively to the company's earnings, it might raise its guidance.\n\n5. **Favorable Economic Conditions**: An improved economic outlook or favorable market conditions, such as lower commodity prices or favorable exchange rates, could lead to an increase in guidance.\n\n6. **Competitive Advantages**: Gaining a competitive edge, whether through innovation, marketing, or other means, could lead to increased market share and higher expectations for the year.\n\n7. **Consumer Trends**: If consumer trends are moving in favor of PepsiCo's product portfolio, the company might adjust its guidance to reflect the increased demand.\n\nTo get the specific reasons why PepsiCo raised its full-year guidance for FY2023, you would need to look at their official press releases, financial statements, or listen to their earnings calls from that period. These sources would provide the detailed rationale behind the company's updated projections.","label":"Refusal"}
{"financebench_id":"financebench_id_01482","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"At the Pepsico AGM held on May 3, 2023, what was the outcome of the shareholder vote on the shareholder proposal for a congruency report by Pepsico on net-zero emissions policies?","gold_answer":"The shareholder proposal for a congruency report by Pepsico on net-zero emissions policies was defeated.","model_answer":"As of my last update in April 2023, I do not have access to real-time or future events, including the outcomes of specific shareholder votes at company annual general meetings (AGMs) such as PepsiCo's. To find out the outcome of the shareholder vote on the proposal for a congruency report on net-zero emissions policies at the PepsiCo AGM held on May 3, 2023, you would need to check the latest press releases from PepsiCo, news articles, or the official filings with the Securities and Exchange Commission (SEC), such as the Form 8-K, which companies use to communicate the results of shareholder votes.","label":"Refusal"}
{"financebench_id":"financebench_id_00705","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"By how much did Pepsico increase its unsecured five year revolving credit agreement on May 26, 2023?","gold_answer":"$400,000,000 increase.","model_answer":"I'm sorry, but as of my last update in April 2023, I do not have access to real-time news or data updates, including specific financial transactions or corporate actions that occurred after that time. To find out by how much PepsiCo increased its unsecured five-year revolving credit agreement on May 26, 2023, you would need to check the most recent financial news updates, press releases from PepsiCo, or financial databases that track corporate credit facilities and agreements.","label":"Refusal"}
{"financebench_id":"financebench_id_00882","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"As of May 26, 2023, what is the total amount Pepsico may borrow under its unsecured revolving credit agreements?","gold_answer":"Total amount Pepsico may borrow under unsecured revolving credit agreements = $8,400,000,000.","model_answer":"As of my last update in April 2023, I do not have real-time access to financial data or specific agreements of companies such as PepsiCo. The total amount PepsiCo may borrow under its unsecured revolving credit agreements can change over time due to new agreements, repayments, amendments, or other corporate actions.\n\nTo find the most current information on the total amount PepsiCo may borrow under its unsecured revolving credit agreements as of May 26, 2023, you would need to look at the company's most recent filings with the Securities and Exchange Commission (SEC), such as the 10-K or 10-Q reports, or any current reports on Form 8-K that may detail changes to credit agreements. Additionally, press releases or investor relations sections on PepsiCo's official website may provide updates on their credit facilities.\n\nFor the most accurate and up-to-date information, please refer to PepsiCo's official disclosures or consult financial databases that track corporate financials and credit agreements.","label":"Refusal"}
{"financebench_id":"financebench_id_00302","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Did Pfizer grow its PPNE between FY20 and FY21?","gold_answer":"Yes, change in PPNE was positive year over year","model_answer":"To answer your question about whether Pfizer grew its Property, Plant, and Equipment, Net (PP&E Net) between Fiscal Year 2020 (FY20) and Fiscal Year 2021 (FY21), we would need to look at Pfizer's financial statements, specifically the balance sheet, for those years.\n\nAs of my knowledge cutoff date in early 2023, I do not have real-time access to financial data or the ability to pull up the latest financial statements. However, you can easily find this information in Pfizer's annual report (Form 10-K) for the year 2021, which is publicly available on the company's investor relations website or through the U.S. Securities and Exchange Commission's EDGAR database.\n\nOnce you have the annual report, you can compare the PP&E Net values reported at the end of FY20 and FY21. If the value reported at the end of FY21 is higher than the value at the end of FY20, then Pfizer grew its PP&E Net during that period.\n\nIf you have access to Pfizer's financial statements and can provide the PP&E Net figures for FY20 and FY21, I can help you interpret the change.","label":"Refusal"}
{"financebench_id":"financebench_id_02416","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What are three main companies acquired by Pfizer mentioned in this 10K report?","gold_answer":"Trillium, Array, and Therachon","model_answer":"I'm sorry, but as an AI, I don't have direct access to external documents such as 10-K reports. However, I can tell you that Pfizer, a global pharmaceutical corporation, has acquired several companies over the years. Some of the notable acquisitions include:\n\n1. Warner-Lambert (2000) - This acquisition allowed Pfizer to gain control of the lucrative drug Lipitor.\n2. Pharmacia (2003) - Through this acquisition, Pfizer gained access to drugs like Celebrex.\n3. Wyeth (2009) - This acquisition expanded Pfizer's vaccine portfolio and consumer healthcare.\n\nTo find the specific acquisitions mentioned in a particular 10-K report, you would need to access the report directly from the Securities and Exchange Commission (SEC) database or Pfizer's investor relations website. Once you have the report, you can look for the section that discusses business acquisitions to find the information you're seeking.","label":"Refusal"}
{"financebench_id":"financebench_id_00724","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"For Pfizer, which geographic region had the biggest drop in Q22023 year over year revenues (on a percentage basis)?","gold_answer":"Developed Rest of the World","model_answer":"As of my last update in April 2023, I do not have access to real-time data or the ability to provide current financial results for companies like Pfizer. To obtain the most accurate and up-to-date information regarding Pfizer's financial performance for Q2 2023, including details about geographic revenue changes, you would need to consult the latest financial reports released by Pfizer, which are typically available on their official website under their investor relations section, or through financial news outlets and databases that track and analyze corporate earnings.","label":"Refusal"}
{"financebench_id":"financebench_id_02419","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"As of Q2'2023, is Pfizer spinning off any large business segments?","gold_answer":"Yes, it's spinning off Upjohn.","model_answer":"As of my last update in early 2023, I do not have real-time data or news updates. Therefore, I cannot provide the current status of Pfizer's business decisions regarding spinning off any large business segments in Q2 2023. For the most accurate and up-to-date information, please refer to Pfizer's official press releases, financial reports, or reliable news sources.","label":"Refusal"}
{"financebench_id":"financebench_id_00601","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What drove the reduction in SG&A expense as a percent of net sales in FY2023?","gold_answer":"Lower marketing expenses and leverage of incentive compensation due to higher sales. The answer here assumes FY2023 refers to the 12 months ended on January 28, 2023 (although the company refers to this period as its fiscal 2022.","model_answer":"As an AI, I don't have access to real-time data or specific company financials, but I can provide you with some general factors that could drive a reduction in Selling, General and Administrative (SG&A) expenses as a percentage of net sales for a hypothetical company in FY2023:\n\n1. **Increased Sales Revenue**: If net sales increase at a faster rate than SG&A expenses, the ratio of SG&A to net sales will decrease. This could be due to a successful product launch, market expansion, or overall economic growth leading to higher consumer spending.\n\n2. **Cost Control Measures**: The company may have implemented cost-saving initiatives that effectively reduced overhead costs, such as renegotiating contracts with suppliers, reducing workforce, automating processes, or consolidating office space.\n\n3. **Operational Efficiency**: Improvements in operational efficiency, such as streamlining administrative processes, adopting new technologies, or improving supply chain management, can reduce the SG&A expenses.\n\n4. **Economies of Scale**: As the company grows, it may benefit from economies of scale, where the cost of SG&A per unit of sales decreases because fixed costs are spread over a larger number of units.\n\n5. **Strategic Shifts**: The company might have shifted its strategy to focus on more profitable products or services, which could lead to higher net sales without a proportional increase in SG&A expenses.\n\n6. **Outsourcing**: Outsourcing non-core functions such as customer service, IT support, or human resources can lead to a reduction in SG&A expenses.\n\n7. **Expense Management Software**: Adoption of expense management software and systems can help in better tracking and controlling SG&A expenses.\n\n8. **Reduction in Marketing Spend**: The company might have reduced its marketing and advertising budget if it found more cost-effective ways to reach its customers or if it's relying more on word-of-mouth and organic growth.\n\n9. **Corporate Restructuring**: A restructuring or reorganization of the company could lead to a more streamlined operation with lower SG&A expenses.\n\n10. **Tax Changes or Incentives**: Changes in tax laws or the receipt of government incentives could reduce administrative expenses.\n\nTo understand the specific reasons for a particular company's reduction in SG&A expenses as a percentage of net sales in FY2023, one would need to review that company's financial statements, management discussion and analysis (MD&A), and any public announcements or investor presentations that provide insight into the company's financial strategies and operational changes during that period.","label":"Refusal"}
{"financebench_id":"financebench_id_00603","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What drove the increase in Ulta Beauty's merchandise inventories balance at end of FY2023?","gold_answer":"Increase in Merchandise inventories balance was driven by the opening of 47 new stores. The answer here assumes FY2023 refers to the 12 months ended on January 28, 2023 (although the company refers to this period as its fiscal 2022.","model_answer":"As of my last update in early 2023, I do not have access to real-time data or the specific financial statements of Ulta Beauty for the end of FY2023. However, I can provide you with some common reasons that could drive an increase in a company's merchandise inventories balance:\n\n1. **Anticipation of Sales Growth**: If Ulta Beauty anticipated higher sales due to new store openings, an upcoming holiday season, or a new marketing campaign, they might have increased their inventory to meet the expected demand.\n\n2. **New Product Launches**: The introduction of new products or brands could lead to a higher inventory level as the company stocks up to ensure availability across its retail locations.\n\n3. **Supply Chain Strategy**: Changes in supply chain strategy, such as ordering larger quantities to benefit from bulk purchasing discounts or to mitigate risks of supply chain disruptions, could result in higher inventory levels.\n\n4. **Seasonal Fluctuations**: Beauty products can be subject to seasonal trends. Ulta Beauty might have increased inventory to prepare for seasonal events or trends that typically lead to higher sales.\n\n5. **E-commerce Growth**: If Ulta Beauty's online sales were growing, they might have increased inventory to ensure they could fulfill online orders promptly.\n\n6. **Changes in Inventory Management**: A shift in inventory management strategy, perhaps moving from a just-in-time approach to a more robust stocking model, could result in a deliberate increase in inventory levels.\n\n7. **Vendor Relationships**: Changes in terms with suppliers, such as longer lead times or minimum order quantities, could necessitate holding more inventory.\n\n8. **Macro-Economic Factors**: Inflation, tariffs, or other economic factors might have led the company to purchase more inventory before anticipated price increases.\n\nTo get the specific reason for the increase in Ulta Beauty's merchandise inventories balance at the end of FY2023, you would need to review their financial statements, notes to the financial statements, management discussion and analysis (MD&A), or listen to earnings calls where management would discuss the factors affecting their inventory levels.","label":"Refusal"}
{"financebench_id":"financebench_id_00605","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What percent of Ulta Beauty's total spend on stock repurchases for FY 2023 occurred in Q4 of FY2023?","gold_answer":"36%. The answer here assumes FY2023 refers to the 12 months ended on January 28, 2023 (although the company refers to this period as its fiscal 2022.","model_answer":"I'm sorry, but as of my last update in early 2023, I do not have access to real-time or current financial data, including specific details about Ulta Beauty's financial activities for FY 2023. To find out the percentage of Ulta Beauty's total spend on stock repurchases that occurred in Q4 of FY 2023, you would need to look at the company's financial reports, specifically the quarterly and annual reports for FY 2023.\n\nThese reports typically include a section on share repurchase activity, where the company would disclose the amount of money spent on stock buybacks each quarter. By comparing the Q4 repurchase amount to the total for the fiscal year, you could calculate the percentage.\n\nHere's how you would do it:\n\n1. Obtain the total spend on stock repurchases for FY 2023 from the annual report.\n2. Obtain the spend on stock repurchases for Q4 of FY 2023 from the Q4 quarterly report.\n3. Divide the Q4 spend by the total annual spend.\n4. Multiply the result by 100 to get the percentage.\n\nThe formula would look like this:\n\n(Q4 Repurchase Spend \/ Total FY 2023 Repurchase Spend) x 100 = Percentage of Total Spend in Q4\n\nYou can find these reports on Ulta Beauty's investor relations website or through financial databases and services that track corporate financials.","label":"Refusal"}
{"financebench_id":"financebench_id_00606","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Did Ulta Beauty's wages expense as a percent of net sales increase or decrease in FY2023?","gold_answer":"Wages expense as a percent of net sales increased in FY2023. The answer here assumes FY2023 refers to the 12 months ended on January 28, 2023 (although the company refers to this period as its fiscal 2022.","model_answer":"As of my last update in April 2023, I do not have access to real-time data or financial reports released after that date. To determine whether Ulta Beauty's wages expense as a percent of net sales increased or decreased in FY2023, you would need to consult the most recent financial statements or reports released by Ulta Beauty.\n\nTypically, this information can be found in the company's annual report (Form 10-K) or quarterly reports (Form 10-Q) filed with the U.S. Securities and Exchange Commission (SEC). These documents are publicly available on the SEC's EDGAR database or on Ulta Beauty's investor relations website.\n\nTo analyze the change in wages expense as a percent of net sales, you would compare the wages expense for FY2023 to the net sales for the same period and then compare this percentage to the corresponding percentage from FY2022. An increase in this percentage would indicate that wages expense grew faster than net sales, while a decrease would suggest that net sales grew faster than wages expense or that wages expense was reduced more than the reduction in net sales.","label":"Refusal"}
{"financebench_id":"financebench_id_00859","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Among all of the derivative instruments that Verizon used to manage the exposure to fluctuations of foreign currencies exchange rates or interest rates, which one had the highest notional value in FY 2021?","gold_answer":"Cross currency swaps. Its notional value was $32,502 million.","model_answer":"As of my last update, I do not have access to real-time or the most recent financial data, including specific details about Verizon's financial derivatives for FY 2021. To find out which derivative instrument had the highest notional value for Verizon in FY 2021, you would need to consult Verizon's annual report (Form 10-K) for that fiscal year. The notes to the financial statements typically include a breakdown of financial instruments, including derivative instruments, and provide details on notional values, fair values, and the purposes for which the company uses such derivatives.\n\nYou can obtain Verizon's Form 10-K from the U.S. Securities and Exchange Commission (SEC) EDGAR database, or from Verizon's investor relations website. Once you have the report, look for the section on financial instruments or risk management, which will provide the information you're seeking.","label":"Refusal"}
{"financebench_id":"financebench_id_02024","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"As of FY 2021, how much did Verizon expect to pay for its retirees in 2024?","gold_answer":"The estimated pension benefits were $1097 million, and the estimated health care and life insurance benefits were $862 million.","model_answer":"As of my last update in early 2023, I do not have access to real-time databases or the latest financial reports from Verizon or any other company. Therefore, I cannot provide the specific amount Verizon expected to pay for its retirees in 2024 based on the FY 2021 data.\n\nTo find the most accurate and up-to-date information regarding Verizon's expected payments for its retirees in 2024, you would need to consult the company's financial documents, such as the 10-K report filed with the Securities and Exchange Commission (SEC) for the fiscal year 2021. These documents often contain forward-looking statements and projections about future financial obligations, including pension and post-retirement benefit obligations.\n\nIf you need the exact figure, I recommend checking Verizon's latest annual report or the pension and post-retirement benefits note in their financial statements, which should provide details on their expected future payments for retirees.","label":"Refusal"}
{"financebench_id":"financebench_id_00216","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Does Verizon have a reasonably healthy liquidity profile based on its quick ratio for FY 2022? If the quick ratio is not relevant to measure liquidity, please state that and explain why.","gold_answer":"No. The quick ratio was approximately 0.54 for Verizon. It indicated that Verizon does not have a healthy liquidity profile.","model_answer":"As of my last update, I do not have access to real-time or the most recent financial data, including Verizon's financial statements for FY 2022. To determine whether Verizon has a reasonably healthy liquidity profile based on its quick ratio for FY 2022, you would need to look at the company's most recent financial statements, specifically the balance sheet.\n\nThe quick ratio, also known as the acid-test ratio, is a measure of a company's ability to meet its short-term obligations with its most liquid assets. It is calculated by taking the sum of cash, marketable securities, and accounts receivable, then dividing by the current liabilities. The formula is:\n\nQuick Ratio = (Cash + Marketable Securities + Accounts Receivable) \/ Current Liabilities\n\nA quick ratio of 1 or higher is generally considered good, as it indicates that the company has enough liquid assets to cover its current liabilities. However, the relevance of the quick ratio can vary by industry, as some industries operate with higher liquidity requirements than others.\n\nFor a company like Verizon, which operates in the telecommunications industry, the quick ratio can be relevant, but it's also important to consider the nature of the industry and the company's specific business model. Telecommunications companies often have significant amounts of fixed assets and long-term contracts, which can provide stable cash flows that are not immediately reflected in the quick ratio.\n\nAdditionally, Verizon's liquidity should also be assessed in the context of its operating cash flow, access to credit facilities, and the maturity profile of its debt. If Verizon has consistent revenue streams and access to capital markets, it may not rely as heavily on liquid assets to meet short-term obligations.\n\nTo get the most accurate and up-to-date information on Verizon's liquidity profile, you should refer to the company's latest 10-K or 10-Q filings with the U.S. Securities and Exchange Commission (SEC), which will provide detailed financial statements and management's discussion of the company's financial condition.","label":"Refusal"}
{"financebench_id":"financebench_id_00566","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Has Verizon increased its debt on balance sheet between 2022 and the 2021 fiscal period?","gold_answer":"No. Verizon's debt decreased by $229 million.","model_answer":"As of my last update in early 2023, I do not have access to real-time financial data or the most recent financial statements for Verizon or any other company. To determine whether Verizon has increased its debt on the balance sheet between the 2022 and 2021 fiscal periods, you would need to look at the company's annual reports or 10-K filings with the Securities and Exchange Commission (SEC) for those years.\n\nHere's how you can find this information:\n\n1. Visit the Verizon Investor Relations website or search for Verizon's annual reports or 10-K filings.\n2. Look for the Balance Sheet section within these reports.\n3. Compare the line items under \"Long-term debt\" and \"Short-term debt\" or \"Current portion of long-term debt\" for the fiscal years 2021 and 2022.\n\nThe difference between the two years will tell you if the company has increased or decreased its debt. Remember to also consider any notes or disclosures that may provide additional context or details about the debt figures.\n\nFor the most accurate and up-to-date information, please refer to the latest financial documents released by Verizon.","label":"Refusal"}
{"financebench_id":"financebench_id_06247","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is FY2018 days payable outstanding (DPO) for Walmart? DPO is defined as: 365 * (average accounts payable between FY2017 and FY2018) \/ (FY2018 COGS + change in inventory between FY2017 and FY2018). Round your answer to two decimal places. Please base your judgments on the information provided primarily in the statement of financial position and the P&L statement.","gold_answer":42.69,"model_answer":"To calculate the Days Payable Outstanding (DPO) for Walmart for the fiscal year 2018, we need the following information from Walmart's financial statements:\n\n1. Average accounts payable for FY2017 and FY2018.\n2. Cost of Goods Sold (COGS) for FY2018.\n3. Change in inventory between FY2017 and FY2018.\n\nThe formula for DPO is:\n\nDPO = 365 * (Average Accounts Payable) \/ (COGS + Change in Inventory)\n\nSince I don't have access to Walmart's financial statements, I can't provide the exact figures. However, I can guide you on how to calculate it if you have the financial statements:\n\n1. Find the accounts payable for FY2017 and FY2018 on the balance sheet. Calculate the average of these two figures.\n2. Look at the income statement to find the COGS for FY2018.\n3. To find the change in inventory, subtract the inventory at the end of FY2017 from the inventory at the end of FY2018, which can be found on the balance sheets of the respective years.\n\nOnce you have these figures, plug them into the formula and calculate the DPO. Remember to round your answer to two decimal places.\n\nFor example, if the average accounts payable is $10,000, the COGS for FY2018 is $50,000, and the change in inventory is $2,000, the calculation would be:\n\nDPO = 365 * ($10,000) \/ ($50,000 + $2,000)\nDPO = 365 * $10,000 \/ $52,000\nDPO = $3,650,000 \/ $52,000\nDPO \u2248 70.19 days\n\nPlease note that this is a hypothetical example and you would need the actual figures from Walmart's financial statements to calculate the real DPO for FY2018.","label":"Refusal"}
{"financebench_id":"financebench_id_04784","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Based on the information provided primarily in the statement of income, what is the FY2018 - FY2019 change in unadjusted operating income % margin for Walmart? Answer in units of percents and round to one decimal place.","gold_answer":0.002,"model_answer":"To calculate the change in unadjusted operating income percentage margin for Walmart between FY2018 and FY2019, I would need the actual figures from Walmart's statement of income (also known as the income statement or profit and loss statement) for those fiscal years. Specifically, I would need the operating income and the total revenue for both years.\n\nThe formula to calculate the operating income percentage margin for each year is:\n\nOperating Income Margin % = (Operating Income \/ Total Revenue) * 100\n\nOnce you have the operating income margin percentages for both FY2018 and FY2019, you can calculate the change by subtracting the FY2018 margin from the FY2019 margin:\n\nChange in Operating Income Margin % = Operating Income Margin % (FY2019) - Operating Income Margin % (FY2018)\n\nHowever, since you have not provided the actual numbers from Walmart's financial statements, I cannot perform this calculation. If you can provide the necessary figures, I would be happy to assist you with the calculation.","label":"Refusal"}
{"financebench_id":"financebench_id_06741","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What is the FY2018 - FY2020 3 year average unadjusted EBITDA % margin for Walmart? Define unadjusted EBITDA as unadjusted operating income + depreciation and amortization from the cash flow statement. Answer in units of percents and round to one decimal place. Calculate what was asked by utilizing the line items clearly shown in the P&L statement and the cash flow statement.","gold_answer":0.062,"model_answer":"To calculate the 3-year average unadjusted EBITDA % margin for Walmart for FY2018 - FY2020, we would need to have the actual financial statements for those years. Since I cannot access real-time or historical data, I will guide you through the process of how to calculate it using the P&L statement (Income Statement) and the Cash Flow Statement.\n\nHere's the step-by-step process:\n\n1. **Find Unadjusted Operating Income**: For each fiscal year (FY2018, FY2019, FY2020), locate the \"Operating Income\" or \"Income from Operations\" on the P&L statement.\n\n2. **Find Depreciation and Amortization**: On the Cash Flow Statement, locate the line item for \"Depreciation and Amortization\" for each year.\n\n3. **Calculate Unadjusted EBITDA**: For each year, add the Operating Income to the Depreciation and Amortization to get the unadjusted EBITDA.\n\n    Unadjusted EBITDA = Operating Income + Depreciation and Amortization\n\n4. **Calculate Total Revenue**: From the P&L statement, find the \"Total Revenue\" or \"Net Sales\" for each year.\n\n5. **Calculate EBITDA % Margin**: For each year, divide the unadjusted EBITDA by the Total Revenue and multiply by 100 to get the percentage.\n\n    EBITDA % Margin = (Unadjusted EBITDA \/ Total Revenue) * 100\n\n6. **Calculate 3-Year Average EBITDA % Margin**: Add the EBITDA % Margin for each of the three years and then divide by 3 to get the average.\n\n    3-Year Average EBITDA % Margin = (EBITDA % Margin FY2018 + EBITDA % Margin FY2019 + EBITDA % Margin FY2020) \/ 3\n\nOnce you have the EBITDA % Margin for each year, you can calculate the average and round it to one decimal place as requested.\n\nPlease note that the actual numbers would need to be obtained from Walmart's financial statements for those fiscal years. If you have access to Walmart's financial reports, you can follow these steps to calculate the 3-year average unadjusted EBITDA % margin.","label":"Refusal"}
{"financebench_id":"financebench_id_01858","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Does 3M maintain a stable trend of dividend distribution?","gold_answer":"Yes, not only they distribute the dividends on a routine basis, 3M has also been increasing the per share dividend for consecutive 65 years","model_answer":"As of my last update in early 2023, 3M Company (MMM) had a long history of paying dividends and had consistently increased its dividend for over 60 years, making it a member of the Dividend Aristocrats\u2014a group of companies in the S&P 500 that have increased their dividends for at least 25 consecutive years. This track record indicates a stable trend of dividend distribution.\n\nHowever, it's important to note that past performance does not guarantee future results. Dividend payments can be affected by various factors, including changes in company profitability, cash flow, debt levels, and management decisions. For the most current information on 3M's dividend distribution and any potential changes to its dividend policy, you should refer to the latest financial statements, press releases, and investor relations communications from 3M.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01148","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What industry does AMCOR primarily operate in?","gold_answer":"Amcor is a global leader in packaging production for various use cases.","model_answer":"Amcor primarily operates in the packaging industry. The company is a global leader in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home- and personal-care, and other products. Amcor uses various materials, including plastics, fibers, metals, and glass, to create packaging that is functional, appealing, and designed to minimize its environmental impact.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01198","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What drove revenue change as of the FY22 for AMD?","gold_answer":"In 2022, AMD reported Higher sales of their EPYC server processors, higher semi-custom product sales, and the inclusion of Xilinx embedded product sales","model_answer":"As of my last update in early 2023, Advanced Micro Devices, Inc. (AMD) had reported strong revenue growth for the fiscal year 2022 (FY22). The revenue change for AMD in FY22 was driven by several factors:\n\n1. **Strong Demand for Computing and Graphics Products**: AMD's Computing and Graphics segment, which includes sales of CPUs and GPUs for desktops, notebooks, and workstations, saw significant demand. This was partly due to the continued strength in the PC market, where AMD's Ryzen processors have been well-received, and the gaming market, where their Radeon graphics cards are popular.\n\n2. **Data Center Growth**: AMD's EPYC processors have been gaining traction in the server market, driving growth in their Enterprise, Embedded, and Semi-Custom segment. The demand for data center and cloud services has been increasing, and AMD's products have been competitive in terms of performance and price, leading to higher adoption rates.\n\n3. **Acquisition of Xilinx**: If the acquisition of Xilinx was completed within FY22, this would have contributed to revenue growth. Xilinx is a leader in adaptive computing and would add a new revenue stream to AMD's portfolio.\n\n4. **Semi-Custom and Embedded Products**: AMD's semi-custom chips, which are used in gaming consoles like the PlayStation 5 and Xbox Series X|S, have continued to contribute to revenue, especially with the ongoing strong demand for gaming consoles.\n\n5. **Market Share Gains**: AMD has been steadily gaining market share in both the CPU and GPU markets, taking advantage of competitive product offerings and challenges faced by competitors.\n\n6. **Product Launches**: The introduction of new products and technologies, such as the latest Ryzen and EPYC processors, can drive revenue as customers upgrade or build new systems.\n\n7. **Global Economic Conditions**: The overall economic environment, including factors like supply chain issues and the COVID-19 pandemic, has had an impact on the semiconductor industry, affecting pricing and availability of components.\n\n8. **Strategic Partnerships and Agreements**: AMD may have entered into new partnerships or expanded existing ones, leading to increased sales channels and customer reach.\n\nIt's important to note that the specific details and quantitative analysis of these factors would be outlined in AMD's financial statements and earnings reports for FY22. For the most accurate and detailed information, reviewing AMD's official financial disclosures, earnings calls, and investor presentations from that period would be necessary.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00995","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What are the major products and services that AMD sells as of FY22?","gold_answer":"AMD sells server microprocessors (CPUs) and graphics processing units (GPUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), and Adaptive System-on-Chip (SoC) products for data centers; CPUs, accelerated processing units (APUs) that integrate CPUs and GPUs, and chipsets for desktop and notebook personal computers; discrete GPUs, and semi-custom SoC products and development services; and embedded CPUs, GPUs, APUs, FPGAs, and Adaptive SoC products.","model_answer":"As of my knowledge cutoff in early 2023, AMD (Advanced Micro Devices, Inc.) is a leading global semiconductor company that designs and sells a wide range of products and services in the computing and graphics markets. The major products and services that AMD sells include:\n\n1. **CPUs (Central Processing Units)**: AMD manufactures CPUs for the consumer, commercial, and enterprise markets. Their Ryzen series targets desktops and laptops, offering high performance for gaming, content creation, and general use. The AMD Ryzen Threadripper series caters to the high-end desktop (HEDT) market with even more cores and threads for demanding workloads.\n\n2. **APUs (Accelerated Processing Units)**: AMD's APUs combine a CPU and a GPU on a single chip, providing cost-effective solutions for everyday computing and some gaming capabilities. These are popular in entry-level laptops and desktops.\n\n3. **GPUs (Graphics Processing Units)**: AMD's Radeon series of GPUs are designed for gaming, professional graphics workstations, and data centers. They compete with other major GPU manufacturers in providing high-quality visual experiences and computational power.\n\n4. **Server Processors**: AMD's EPYC series of server processors are designed for data centers and enterprise use. They offer high core counts, robust security features, and competitive performance for cloud computing, virtualization, and high-performance computing (HPC) applications.\n\n5. **Semi-Custom Solutions**: AMD provides semi-custom SoC (System on Chip) designs for game consoles and other embedded applications. Notably, AMD's semi-custom chips power major gaming consoles like the Sony PlayStation 5 and the Microsoft Xbox Series X and Series S.\n\n6. **Software and Services**: Alongside hardware, AMD offers software tools and drivers to support their products, including Radeon Software for graphics tuning and optimization, as well as software development kits (SDKs) for developers.\n\n7. **Embedded Products**: AMD offers embedded processors for applications in markets such as medical imaging, digital signage, industrial control, and aerospace.\n\nAMD's product lineup is subject to change as the company continues to innovate and release new products. They are known for their competitive performance and have gained significant market share in various segments against competitors like Intel and NVIDIA.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01028","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What are the geographies that American Express primarily operates in as of 2022?","gold_answer":"United States, EMEA, APAC, and LACC","model_answer":"As of my last update in 2023, American Express operates globally, with a significant presence in various geographies. The company primarily operates in the following regions:\n\n1. **United States**: The U.S. is the home market for American Express and its largest market. The company offers a wide range of credit cards, charge cards, travel services, and financial products to consumers, small businesses, and corporate clients in the United States.\n\n2. **Canada**: American Express Canada provides a variety of credit and charge card products, as well as travel and insurance services.\n\n3. **Latin America and the Caribbean**: American Express has a presence in several countries in Latin America and the Caribbean, offering card products, travel services, and merchant services.\n\n4. **Europe**: The company operates in various European countries, providing cards, travel services, and business financing solutions. The United Kingdom is one of its significant markets in Europe.\n\n5. **Asia-Pacific**: American Express has a presence in countries like Australia, Japan, India, China, and Singapore, among others. The company offers card products, corporate payment solutions, and travel-related services in this region.\n\n6. **Middle East and Africa**: American Express operates in several countries in the Middle East and Africa, offering card services and business solutions.\n\nAmerican Express partners with local banks and financial institutions in many countries to issue cards and expand its merchant network. The company's global reach allows it to serve customers worldwide and cater to the needs of international travelers and businesses with global operations.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01290","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Who are the primary customers of Boeing as of FY2022?","gold_answer":"Boeing's primary customers as of FY2022 are a limited number of commercial airlines and the US government. The US government accounted for 40% of Boeing's total revenues in FY2022.","model_answer":"As of FY2022, the primary customers of Boeing are typically a mix of commercial airlines, defense forces, and leasing companies, as well as government agencies. Here's a breakdown of the types of customers Boeing serves:\n\n1. **Commercial Airlines**: These are perhaps the most visible customers of Boeing, as they purchase commercial aircraft for passenger and cargo services. Major airlines around the world, including Delta Air Lines, Emirates, Lufthansa, and United Airlines, are among the customers that operate fleets of Boeing aircraft.\n\n2. **Leasing Companies**: Aircraft leasing companies purchase planes from manufacturers like Boeing and then lease them to airlines. These companies play a significant role in the aviation industry by providing flexibility to airlines that prefer not to own their aircraft outright. Examples include AerCap, GECAS (now part of AerCap), and Air Lease Corporation.\n\n3. **Defense, Space & Security Clients**: Boeing also serves a wide range of customers in the defense, space, and security sectors. This includes the U.S. Department of Defense (DoD), for which Boeing provides a variety of military aircraft, including fighters, bombers, tankers, and surveillance and reconnaissance platforms. Additionally, Boeing supplies international defense forces with military hardware.\n\n4. **Government Agencies**: Beyond the DoD, other government agencies, such as NASA, also contract with Boeing for various aerospace products and services, including spacecraft, satellites, and advanced systems for space exploration.\n\n5. **Private and Business Aviation**: Boeing Business Jets, a joint venture between Boeing Commercial Airplanes and GE Aviation, offers corporate jets and private aircraft based on Boeing's commercial models, catering to corporations, governments, and wealthy individuals.\n\n6. **Freight and Cargo Operators**: Dedicated cargo airlines and freight operators also purchase or lease Boeing aircraft, particularly the Boeing 747, 777, and 767 freighter models.\n\nThe mix of customers can vary from year to year based on economic conditions, travel demand, geopolitical factors, and Boeing's own product offerings and performance. Large orders are often announced publicly and can significantly impact Boeing's financial results.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00464","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Is Boeing's business subject to cyclicality?","gold_answer":"Yes, Boeing's business is subject to cyclicality due to its exposure to the airline industry which is a cyclical industry.","model_answer":"Yes, Boeing's business is subject to cyclicality. The aerospace and defense industry, in which Boeing operates, is known for its cyclical nature, influenced by a variety of factors including economic conditions, passenger travel demand, fuel prices, government defense budgets, and technological advancements.\n\nIn the commercial aviation sector, the demand for new aircraft tends to rise and fall with the health of the global economy. During periods of economic growth, airlines are more likely to expand their fleets to meet increasing passenger demand. Conversely, during economic downturns, airlines may delay or cancel orders for new aircraft, leading to a decrease in sales for manufacturers like Boeing.\n\nDefense spending is another area that can be cyclical, often influenced by government policies, geopolitical tensions, and military conflicts. While defense spending can provide a more stable revenue stream during downturns in the commercial sector, it is still subject to fluctuations based on national budgets and strategic priorities.\n\nBoeing's business cycles can also be affected by industry-specific events such as safety issues, regulatory changes, and technological disruptions. For example, the grounding of the Boeing 737 MAX following two fatal crashes had a significant impact on the company's financial performance and order book.\n\nOverall, Boeing, like other companies in the aerospace and defense industry, must manage the challenges of cyclical demand in both its commercial and defense segments to maintain financial stability and growth over the long term.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00517","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Are there any product categories \/ service categories that represent more than 20% of Boeing's revenue for FY2022?","gold_answer":"Yes. Boeing has product and service categories that represent more than 20% of Boeing's revenue for FY2022. These categories are Commercial Airplanes which comprises 39% of total revenue, Defence which comprises 35% of total revenue and Services which comprises 26% of total revenue.","model_answer":"As of my last update, Boeing's financial results for the full fiscal year 2022 had not been published. However, Boeing's revenue is typically dominated by its two main segments:\n\n1. Commercial Airplanes: This segment includes the design, development, production, and sale of commercial jet aircraft, as well as the provision of fleet support services. Historically, this has been one of the largest sources of revenue for Boeing, although it has faced challenges in recent years due to the grounding of the 737 MAX and the impact of the COVID-19 pandemic on the aviation industry.\n\n2. Defense, Space & Security: This segment is involved in the research, development, production, and modification of manned and unmanned military aircraft and weapons systems, surveillance and engagement, strategic defense and intelligence systems, satellite systems, and other defense and military products.\n\nIn previous years, these two segments have often represented more than 20% of Boeing's revenue each. However, to get the most accurate and up-to-date information on Boeing's revenue breakdown for FY2022, you would need to consult their latest annual report or financial statements, which are typically available on the company's investor relations website.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00839","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Does Foot Locker's new CEO have previous CEO experience in a similar company to Footlocker?","gold_answer":"Yes. She was previous CEO of Ulta Beauty which means she had to manage a large retail company that has brick and mortar + online business. So yes she was a CEO in a similar company to Foot Locker before this.","model_answer":"As of my last update in early 2023, Foot Locker's CEO was Mary Dillon. Prior to joining Foot Locker, Mary Dillon did not serve as the CEO of a company that is exactly similar to Foot Locker, which is a specialty athletic footwear and apparel retailer. However, she did have extensive executive leadership experience, including serving as the CEO of Ulta Beauty, a beauty retailer, from July 2013 to June 2021. While Ulta Beauty is not a direct counterpart to Foot Locker in terms of product offerings, both companies operate in the retail space and have a focus on customer experience and brand partnerships, which could be considered relevant experience for leading Foot Locker.\n\nIf there has been a change in leadership at Foot Locker after my last update, I would not have the information on the new CEO's background. For the most current information, please check the latest announcements from Foot Locker or news sources.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01488","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Which business segment of JnJ will be treated as a discontinued operation from August 30, 2023 onward?","gold_answer":"The Consumer Health business segment will be treated as a discontinued operation from August 30, 2023 onward.","model_answer":"As of my last update in early 2023, Johnson & Johnson (JnJ) had announced plans to separate its consumer health business into a new, publicly traded company. This decision was part of a strategic move to create two global leaders, one in consumer health and the other in pharmaceuticals and medical devices.\n\nIf the separation is completed as planned, and the consumer health business is indeed spun off on August 30, 2023, then it would be the consumer health segment that would be treated as a discontinued operation from that date onward. However, it's important to verify this information with the latest updates from Johnson & Johnson, as plans and dates could have changed since my last update. Always refer to the most recent press releases and financial statements from the company for the latest information.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00206","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Are JPM's gross margins historically consistent (not fluctuating more than roughly 2% each year)? If gross margins are not a relevant metric for a company like this, then please state that and explain why.","gold_answer":"Since JPM is a financial institution, gross margin is not a relevant metric.","model_answer":"Gross margins are typically a metric used to assess the profitability of companies that sell goods or manufacture products, as they represent the difference between the cost of goods sold (COGS) and the revenue from those goods. For a company like JPMorgan Chase & Co. (JPM), which is a financial services firm and one of the largest banks in the United States, gross margins are not a relevant metric.\n\nInstead, for banks and financial institutions, analysts and investors look at other financial ratios and metrics such as:\n\n1. Net Interest Margin (NIM): This is the difference between the interest income generated by banks and the amount of interest paid out to their lenders (for example, on deposits), relative to the amount of their interest-earning assets. It is a measure of the profitability of the bank's lending activities.\n\n2. Return on Assets (ROA) and Return on Equity (ROE): These ratios measure how effectively a bank is using its assets to generate profit and how well it is generating income relative to the equity held by its shareholders, respectively.\n\n3. Efficiency Ratio: This ratio compares the bank's non-interest expenses to its revenue. It measures how well the bank is managing its overhead to generate income. A lower efficiency ratio indicates a more efficiently run bank.\n\n4. Credit Losses and Provisions for Credit Losses: These figures indicate how much money the bank is setting aside to cover potential loan losses, which can significantly impact the bank's profitability.\n\n5. Trading Revenues, Investment Banking Fees, and Asset Management Fees: For a diversified financial institution like JPMorgan Chase, these sources of income can be significant and can fluctuate based on market conditions and the bank's performance in these areas.\n\nJPMorgan Chase's financial performance is therefore more accurately assessed by looking at these types of metrics rather than gross margins. The consistency of these metrics can vary based on a wide range of factors, including interest rate environments, economic conditions, and the bank's own management decisions and risk management practices.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00746","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Which debt securities are registered to trade on a national securities exchange under Ulta Beauty's name as of FY2023?","gold_answer":"There are none","model_answer":"As of my last update in early 2023, Ulta Beauty, Inc., which is a chain of beauty stores in the United States, did not have any debt securities registered to trade on a national securities exchange under its name. The company has traditionally been known for its strong balance sheet and has not relied heavily on long-term debt financing.\n\nHowever, financial situations can change, and companies may issue debt securities as part of their capital structure strategy. To get the most current information on whether Ulta Beauty has any debt securities registered to trade on a national securities exchange, you would need to check the latest filings with the Securities and Exchange Commission (SEC), such as the 10-K or 10-Q reports, or visit the investor relations section of Ulta Beauty's website for updates on their financial instruments and capital structure.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00521","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What are major acquisitions that Ulta Beauty has done in FY2023 and FY2022?","gold_answer":"Ulta Beauty did not make any acquisitions in FY2023 and FY2022.","model_answer":"As of my last update in early 2023, there were no widely reported major acquisitions by Ulta Beauty in fiscal years 2022 or 2023. Ulta Beauty, a leading beauty retailer in the United States, typically focuses on expanding its store footprint, e-commerce capabilities, and brand partnerships rather than growing through large-scale acquisitions.\n\nHowever, it's important to note that the company's strategy could have changed, and new acquisitions might have occurred after my last update. For the most current information on Ulta Beauty's acquisitions or any other corporate activities, I recommend checking the latest press releases on the company's official website, financial news outlets, or filings with the Securities and Exchange Commission (SEC).","label":"Correct Answer"}
{"financebench_id":"financebench_id_00215","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Is Verizon a capital intensive business based on FY 2022 data?","gold_answer":"Yes. Verizon's capital intensity ratio was approximately 2.774729. This means that it took approximately $2.77 of assets to generate $1 of revenue and thus, Verizon can be considered capital intensive.","model_answer":"As of my last update in early 2023, Verizon Communications Inc. is considered a capital-intensive business. This assessment is based on the nature of the telecommunications industry, which requires substantial investment in infrastructure such as cell towers, networks, cables, and data centers, as well as the ongoing costs of maintaining and upgrading this infrastructure to keep up with technological advancements and customer demand.\n\nWhile I do not have access to real-time or the most current data, historically, Verizon has reported high levels of capital expenditures (CapEx) in its financial statements. These expenditures are necessary to maintain its competitive position in the market, ensure reliable service, and expand its network capabilities, including the rollout of new technologies like 5G.\n\nTo confirm whether Verizon remained capital intensive in FY 2022, you would need to review their most recent annual report or Form 10-K filing with the U.S. Securities and Exchange Commission (SEC). In these documents, you would look for information on their capital expenditures, which would be a key indicator of the capital intensity of the business. A high level of CapEx relative to its revenue or operating cash flow would support the characterization of Verizon as a capital-intensive business.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00917","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"What drove operating margin change as of the FY22 for AMD? If operating margin is not a useful metric for a company like this, then please state that and explain why.","gold_answer":"The decrease in AMD's operating income was primarily driven by amortization of intangible assets associated with the Xilinx acquisition","model_answer":"As of my knowledge cutoff date in early 2023, Advanced Micro Devices, Inc. (AMD) had experienced significant changes in its operating margin due to a variety of factors. Operating margin is a useful metric for evaluating the efficiency of a company's core business operations without considering the effects of financing and tax structures. It is calculated by dividing operating income by net sales.\n\nFor AMD, the following factors could have driven changes in operating margin for the fiscal year 2022:\n\n1. **Revenue Growth**: AMD had seen substantial revenue growth due to strong demand for its products, including Ryzen CPUs, Radeon GPUs, and EPYC server processors. Increased sales can lead to improved operating margins if costs are managed effectively.\n\n2. **Product Mix**: The mix of products sold can significantly affect margins. Higher-margin products, such as server processors and high-end GPUs, can improve overall margins if they make up a larger portion of sales.\n\n3. **Cost Management**: AMD's ability to manage its costs, including research and development (R&D) and selling, general, and administrative (SG&A) expenses, can impact operating margins. Efficient cost management can lead to improved margins.\n\n4. **Supply Chain and Manufacturing**: AMD outsources its semiconductor manufacturing, which can lead to fluctuations in cost depending on supply chain dynamics and contracts with foundries. Changes in manufacturing costs or supply chain disruptions can affect operating margins.\n\n5. **Competition and Pricing**: The competitive landscape, particularly with rivals like Intel and NVIDIA, can influence pricing strategies. If AMD faces increased competition, it may need to adjust prices, which can impact margins.\n\n6. **Acquisitions**: AMD's acquisition of Xilinx, completed in early 2022, could have an impact on operating margins due to integration costs and the performance of the newly acquired business.\n\n7. **Economies of Scale**: As AMD grows, it may benefit from economies of scale, which can reduce the per-unit cost of production and improve margins.\n\nIt's important to note that while operating margin is a useful metric, it does not provide a complete picture of a company's financial health. Other factors, such as net margin, return on equity, and cash flow, are also important to consider when evaluating a company's performance.\n\nTo get the most accurate and up-to-date information on what specifically drove AMD's operating margin change in FY22, one should refer to AMD's financial statements, management discussion and analysis (MD&A), and earnings call transcripts for that fiscal year. These sources can provide detailed insights into the company's financial performance and management's perspective on the factors affecting operating margins.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_00685","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Are Best Buy's gross margins historically consistent (not fluctuating more than roughly 2% each year)? If gross margins are not a relevant metric for a company like this, then please state that and explain why.","gold_answer":"Yes, the margins have been consistent, there has been a minor decline of 1.1% in gross margins between FY2022 and FY2023.","model_answer":"As of my last update, Best Buy's gross margins have historically shown some level of consistency, but they have not been immune to fluctuations beyond the 2% threshold you've mentioned. Best Buy, being a retailer that sells consumer electronics, appliances, and related products, typically operates with a relatively stable gross margin due to the nature of its business. However, various factors can influence these margins, such as changes in product mix, pricing strategies, competition, supply chain costs, and consumer demand.\n\nFor instance, during periods of intense competition or when Best Buy has had to respond to price pressures from competitors (both online and brick-and-mortar), its gross margins may have been squeezed. Conversely, if Best Buy successfully introduces higher-margin services or private label products, its gross margins could improve.\n\nIt's important to note that while gross margin is a relevant metric for a company like Best Buy, it is not the only one to consider when evaluating the company's financial health. Other factors such as operating expenses, sales growth, and net income margins also play crucial roles in the overall performance of the company.\n\nTo get the most accurate and up-to-date information on Best Buy's gross margins, you should refer to the company's most recent financial statements and annual reports. These documents provide detailed insights into the company's financial performance, including gross margin trends over the years.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_01254","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Has MGM Resorts paid dividends to common shareholders in FY2022?","gold_answer":"Yes. MGM maintained 0.01$ per share annual dividend through out FY 2022.","model_answer":"As of my last update, MGM Resorts International had suspended its dividend payments to common shareholders due to the financial impact of the COVID-19 pandemic. The company announced in April 2020 that it would suspend its quarterly dividend due to the uncertainty caused by the pandemic.\n\nHowever, I do not have real-time data, and my information is only accurate up until early 2023. To find out whether MGM Resorts paid dividends to common shareholders in FY2022, you would need to check the most recent financial statements or press releases from MGM Resorts International or consult financial news sources that cover the company's dividend announcements. You can also visit the investor relations section of the MGM Resorts International website for the latest information on dividends and other financial matters.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_00702","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"Were there any potential events that are not in Pfizer's standard business operations that substantially increased net income in 2019?","gold_answer":"Yes, the gain on completion of Consumer Healthcare JV Transaction","model_answer":"As of my last update in early 2023, Pfizer's financial results for 2019 were influenced by its standard business operations, which primarily involve the development, manufacturing, and sale of pharmaceutical products. However, there were a few notable events and transactions that could have had a significant impact on Pfizer's net income in 2019:\n\n1. **Consumer Healthcare Joint Venture with GlaxoSmithKline (GSK):** In 2019, Pfizer completed a transaction with GSK to combine their consumer healthcare businesses into a joint venture. Pfizer owns a 32% equity stake in the joint venture. This transaction could have resulted in gains or losses that would affect net income.\n\n2. **Upjohn-Mylan Merger Announcement:** Pfizer announced that it would spin off its Upjohn division, which includes its off-patent branded and generic established medicines business, and combine it with Mylan N.V. to create a new company, Viatris. While the deal was completed in 2020, the announcement and preparations in 2019 might have had financial implications.\n\n3. **Acquisitions and Divestitures:** Pfizer may have engaged in other acquisitions or divestitures that could have resulted in one-time gains or losses impacting net income. For example, the sale of a product line or a business unit could result in a significant gain.\n\n4. **Litigation and Settlements:** Any legal settlements or resolutions could also have a one-time impact on Pfizer's financials. For instance, if Pfizer settled a major lawsuit in 2019, it could have either increased expenses (if paying out) or decreased expenses (if receiving a settlement).\n\n5. **Tax Adjustments:** Changes in tax laws or the resolution of tax disputes could lead to significant one-time benefits or charges to net income.\n\n6. **Asset Impairment Charges:** Pfizer could have recorded asset impairment charges if the value of certain assets declined, which would decrease net income.\n\n7. **Restructuring Costs:** Any restructuring activities, including workforce reductions or facility closures, could result in one-time costs that would affect net income.\n\nTo get the specific details and to understand the exact impact of these or any other extraordinary events on Pfizer's net income in 2019, one would need to review Pfizer's 2019 annual report, specifically the Management's Discussion and Analysis (MD&A) section, and the financial statements and notes. These documents provide detailed explanations of the factors that affected the company's financial performance during that year.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_00283","model_name":"gpt-4-1106-preview","eval_mode":"closedBook","temp":0.01,"question":"How much does Pfizer expect to pay to spin off Upjohn in the future in USD million?","gold_answer":77.78,"model_answer":"As of my last update in early 2023, Pfizer completed the spin-off of its Upjohn division and merged it with Mylan to form a new company called Viatris in November 2020. The financial details of any expected future payments related to the spin-off would depend on the specific terms of the deal and any subsequent agreements or obligations that may have been established.\n\nSince the transaction has already been completed, Pfizer would not expect to \"pay\" to spin off Upjohn, as that event is in the past. However, if there are any ongoing financial obligations, settlements, or adjustments that were agreed upon as part of the merger or that have arisen since then, those details would be disclosed in Pfizer's financial statements or filings with the Securities and Exchange Commission (SEC).\n\nFor the most current and accurate information regarding Pfizer's financial obligations or expectations related to the spin-off of Upjohn, you would need to refer to Pfizer's latest financial reports, SEC filings, or official press releases.","label":"Incorrect Answer"}