{"financebench_id":"financebench_id_00591","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The document does not provide sufficient information to determine Adobe's free cash flow conversion for FY2022. Free cash flow conversion is calculated as free cash flow divided by net income. While the document provides information on Adobe's net income, it does not provide information on Adobe's free cash flow. Therefore, it's not possible to determine if Adobe's free cash flow conversion has improved in FY2022.","label":"Refusal"}
{"financebench_id":"financebench_id_00540","model_name":"gpt-4","eval_mode":"oracle_reverse","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 inventory turnover ratio is calculated by dividing the cost of goods sold (COGS) by the average inventory during the period. However, the provided financial statements do not include the cost of goods sold for the AES Corporation for FY2022. Therefore, it is not possible to calculate the inventory turnover ratio for the company for FY2022 with the given information. \n\nMoreover, it's worth noting that the AES Corporation is primarily an electric utilities company. For such companies, the concept of inventory turnover may not be as meaningful as it is for companies in industries such as retail or manufacturing. This is because utilities companies do not typically have large amounts of 'inventory' in the traditional sense. Instead, their primary assets are likely to be their infrastructure and equipment.","label":"Refusal"}
{"financebench_id":"financebench_id_00799","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The quick ratio, also known as the acid-test ratio, is a measure of a company's ability to meet its short-term obligations using its most liquid assets. It is calculated as (Cash and Cash Equivalents + Marketable Securities + Accounts Receivable) \/ Current Liabilities.\n\nHowever, the provided financial statement does not provide all the necessary information to calculate the quick ratio for Amcor plc. Specifically, it does not provide information on Marketable Securities. Therefore, it is not possible to determine whether Amcor's quick ratio has improved or declined between FY2023 and FY2022 based on the provided information. \n\nDespite this, the quick ratio is a common metric that financial analysts would ask about a company like Amcor plc, as it provides insight into the company's short-term liquidity and ability to pay off its current liabilities without relying on the sale of inventory.","label":"Refusal"}
{"financebench_id":"financebench_id_01079","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The document does not provide information on AMCOR's major acquisitions in FY2023, FY2022, and FY2021.","label":"Refusal"}
{"financebench_id":"financebench_id_01902","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The filing does not provide specific information on which Best Buy product category performed the best (by top line) in the domestic (USA) Market during Q2 of FY2024.","label":"Refusal"}
{"financebench_id":"financebench_id_00585","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The document does not provide specific information on Boeing's effective tax rate for FY2022 and FY2021.","label":"Refusal"}
{"financebench_id":"financebench_id_10130","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The information needed to calculate the Days Payable Outstanding (DPO) is not provided in the given text. The average accounts payable between FY2019 and FY2020, FY2020 COGS, and the change in inventory between FY2019 and FY2020 are not specified.","label":"Refusal"}
{"financebench_id":"financebench_id_01244","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The text does not provide specific information on whether CVS Health paid dividends to common shareholders in Q2 of FY2022. However, it is mentioned that CVS Health Corporation has paid cash dividends every quarter since becoming a public company.","label":"Refusal"}
{"financebench_id":"financebench_id_00669","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The filing does not provide specific information on the gross margin change for the fiscal year 2022. However, it does mention factors that influenced the cost of products sold, which is a component of gross margin calculation. These factors include one-time COVID-19 vaccine manufacturing exit related costs, currency impacts in the Pharmaceutical segment, and commodity inflation in the MedTech and Consumer Health segments. These were partially offset by supply chain benefits in the Consumer Health segment. \n\nGross margin is a useful metric for companies like Johnson & Johnson as it provides insight into the company's operational efficiency and profitability. It is calculated by subtracting the cost of goods sold from net sales, and then dividing that number by net sales. The factors mentioned above would have an impact on the cost of goods sold and, therefore, the gross margin. However, without specific figures, it's not possible to quantify the exact impact on the gross margin.","label":"Refusal"}
{"financebench_id":"financebench_id_01911","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The document does not provide enough information to calculate MGM's interest coverage ratio for FY2022. The interest coverage ratio is calculated by dividing a company's earnings before interest and taxes (EBIT) by the company's interest expenses for the same period. While the document provides information on MGM's interest expense and Adjusted EBITDAR for FY2022, it does not provide the specific EBIT figure needed for the calculation.","label":"Refusal"}
{"financebench_id":"financebench_id_00601","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The text does not provide information on what drove the reduction in Selling, General & Administrative (SG&A) expense as a percent of net sales in FY2023.","label":"Refusal"}
{"financebench_id":"financebench_id_00603","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The text does not provide information on what drove the increase in Ulta Beauty's merchandise inventories balance at the end of FY2023.","label":"Refusal"}
{"financebench_id":"financebench_id_00605","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The text does not provide information on Ulta Beauty's total spend on stock repurchases for FY 2023 or the amount spent in Q4 of FY2023.","label":"Refusal"}
{"financebench_id":"financebench_id_00606","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The text does not provide information on Ulta Beauty's wages expense as a percent of net sales in FY2023.","label":"Refusal"}
{"financebench_id":"financebench_id_00746","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The filing does not mention any debt securities registered to trade on a national securities exchange under Ulta Beauty's name as of FY2023.","label":"Refusal"}
{"financebench_id":"financebench_id_03029","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The FY2018 capital expenditure amount for 3M is $1,577 million. This is shown in the cash flow statement under \"Purchases of property, plant and equipment (PP&E)\".","label":"Correct Answer"}
{"financebench_id":"financebench_id_04672","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The year-end FY2018 net Property, Plant, and Equipment (PPNE) for 3M is $8.738 billion.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01865","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The segment that has dragged down 3M's overall growth in 2022, excluding the impact of M&A, is the Consumer segment with a negative organic sales growth of (0.9)%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01226","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The operating margin for 3M decreased by 1.7% in 2022 compared to the previous year. This change was driven by several factors:\n\n1. Cost of Sales: The cost of sales as a percentage of net sales increased by 3.0% in 2022. This was primarily due to special item costs for significant litigation, higher raw materials and logistics costs, manufacturing productivity headwinds, and investments in growth, productivity, and sustainability.\n\n2. Selling, General and Administrative Expenses (SG&A): SG&A as a percentage of net sales increased by 6.1% in 2022. This was impacted by increased special item costs for significant litigation, certain impairment costs, costs related to exiting Russia, divestiture-related restructuring charges, and continued investment in key growth initiatives.\n\n3. Research, Development and Related Expenses (R&D): R&D as a percentage of net sales decreased by 0.2% in 2022. Despite this decrease, 3M continues to invest in a range of R&D activities.\n\n4. Gain on Business Divestitures: In 2022, 3M recorded a pre-tax gain of $2.7 billion related to the split-off and combination of its Food Safety business with Neogen Corporation.\n\n5. Goodwill Impairment Expense: 3M recorded a goodwill impairment charge related to the Advanced Materials reporting unit due to its commitment to exit per- and polyfluoroalkyl substance (PFAS) manufacturing.\n\nOperating margin is a useful metric for 3M as it provides insight into the company's operational efficiency and profitability. However, it's important to note that this metric can be influenced by one-time events and costs, such as litigation expenses, restructuring charges, and goodwill impairment, which may not reflect the company's ongoing operational performance.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01858","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, 3M maintains a stable trend of dividend distribution. The company has increased its dividend for 65 consecutive years. In the first and second quarters of 2023, the dividend was $1.50 per share.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00941","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The debt securities registered to trade on a national securities exchange under 3M's name as of Q2 of 2023 are:\n\n1. 1.500% Notes due 2026\n2. 1.750% Notes due 2030\n3. 1.500% Notes due 2031","label":"Correct Answer"}
{"financebench_id":"financebench_id_07966","model_name":"gpt-4","eval_mode":"oracle_reverse","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 capex as a % of revenue for Activision Blizzard, we first need to find the capex and revenue for each year from 2017 to 2019.\n\nFrom the Consolidated Statements of Operations, we find the total net revenues for each year:\n- 2017: $7,017 million\n- 2018: $7,500 million\n- 2019: $6,489 million\n\nFrom the Consolidated Statements of Cash Flows, we find the capital expenditures for each year:\n- 2017: $155 million\n- 2018: $131 million\n- 2019: $116 million\n\nNow we calculate capex as a % of revenue for each year:\n- 2017: ($155 \/ $7,017) * 100 = 2.2%\n- 2018: ($131 \/ $7,500) * 100 = 1.7%\n- 2019: ($116 \/ $6,489) * 100 = 1.8%\n\nFinally, we calculate the 3-year average of these percentages: (2.2% + 1.7% + 1.8%) \/ 3 = 1.9%\n\nSo, the FY2017 - FY2019 3 year average of capex as a % of revenue for Activision Blizzard is 1.9%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_02987","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The FY2019 revenue for Activision Blizzard is $6,489 million as per the Consolidated Statements of Operations. The Property, Plant, and Equipment (PP&E) for FY2018 is $282 million and for FY2019 is $253 million as per the Consolidated Balance Sheets. \n\nThe average PP&E between FY2018 and FY2019 is calculated as: ($282 million + $253 million) \/ 2 = $267.5 million.\n\nTherefore, the fixed asset turnover ratio for FY2019 is calculated as: $6,489 million \/ $267.5 million = 24.26. \n\nSo, the FY2019 fixed asset turnover ratio for Activision Blizzard is 24.26.","label":"Correct Answer"}
{"financebench_id":"financebench_id_04735","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The FY2015 operating cash flow for Adobe is $1,469,502,000 and the total current liabilities are $2,213,556,000. Therefore, the operating cash flow ratio is 1,469,502 \/ 2,213,556 = 0.6637 or 66.37%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_07507","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Adobe's unadjusted operating income in FY2015 was $903,095 thousand and in FY2016 it was $1,493,602 thousand. The year-over-year change from FY2015 to FY2016 can be calculated as follows:\n\n((FY2016 income - FY2015 income) \/ FY2015 income) * 100\n\n= (($1,493,602 - $903,095) \/ $903,095) * 100\n\n= ($590,507 \/ $903,095) * 100\n\n= 65.4%\n\nSo, Adobe's year-over-year change in unadjusted operating income from FY2015 to FY2016 was 65.4%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_03856","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The FY2017 operating cash flow for Adobe is $2,912,853,000 and the total current liabilities are $3,527,457,000. Therefore, the operating cash flow ratio is 2,912,853 \/ 3,527,457 = 0.8257 or 82.57%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00438","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Operating margin is a useful metric for Adobe Inc. as it provides insight into how well the company is managing its operating costs and generating profit from its core business operations. \n\nTo determine if Adobe has an improving operating margin profile, we need to calculate the operating margin for each fiscal year. The operating margin is calculated as operating income divided by total revenue.\n\nFor FY2020, the operating margin is $4,237 million \/ $12,868 million = 32.9%\nFor FY2021, the operating margin is $5,802 million \/ $15,785 million = 36.7%\nFor FY2022, the operating margin is $6,098 million \/ $17,606 million = 34.6%\n\nFrom these calculations, we can see that Adobe's operating margin increased from FY2020 to FY2021, but then slightly decreased in FY2022. Therefore, as of FY2022, Adobe does not have an improving operating margin profile. However, the slight decrease in FY2022 does not necessarily indicate a negative trend, as the margin is still higher than in FY2020. It's important to consider other factors such as changes in the company's cost structure, pricing strategy, and market conditions when evaluating these results.","label":"Correct Answer"}
{"financebench_id":"financebench_id_10420","model_name":"gpt-4","eval_mode":"oracle_reverse","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), we first need to find the net income for FY2022 and the average total assets between FY2021 and FY2022.\n\nFrom the Consolidated Statements of Operations, we can see that the net income attributable to The AES Corporation for FY2022 is -$546 million.\n\nFrom the Consolidated Balance Sheets, we can see that the total assets for FY2022 and FY2021 are $38,363 million and $32,963 million respectively. The average total assets between FY2021 and FY2022 would be the sum of these two figures divided by 2, which equals $35,663 million.\n\nTherefore, the ROA for FY2022 is calculated as follows:\n\nROA = Net Income \/ Average Total Assets\nROA = -$546 million \/ $35,663 million = -0.0153 or -1.53% when expressed as a percentage. \n\nSo, AES's FY2022 return on assets (ROA) is -1.53%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01319","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The income statement for AES Corporation's FY2022 does not explicitly outline any restructuring costs. Therefore, the quantity of restructuring costs is 0.","label":"Correct Answer"}
{"financebench_id":"financebench_id_08135","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Amazon's total net sales in FY2016 were $135,987 million and in FY2017 were $177,866 million. The year-over-year change in revenue from FY2016 to FY2017 is calculated as follows:\n\n((177,866 - 135,987) \/ 135,987) * 100 = 30.8%\n\nSo, Amazon's year-over-year change in revenue from FY2016 to FY2017 was 30.8%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_08286","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Amazon's FY2019 net income attributable to shareholders is $11,588 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_03882","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The balance sheet of Amcor plc for the year ending 2020 shows \"Trade receivables, net\" as $1,615.9 million. Therefore, Amcor's year-end FY2020 net Accounts Receivable (AR) is $1,615.9 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01935","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The key agenda of the AMCOR's 8k filing dated 1st July 2022 was to report that on June 30, 2022, Amcor Finance (USA), Inc. and Amcor Flexibles North America, Inc., both subsidiaries of Amcor plc, entered into a Second Supplemental Indenture and a First Supplemental Indenture with Deutsche Bank Trust Company Americas. These indentures were related to the substitution of the Substitute Issuer for the Former Issuer and the assumption by the Substitute Issuer of the covenants of the Former Issuer under the Indentures. The filing also included the full text of the 2016 Indenture, the form of 2026 Notes, the form of 2028 Notes, the 2019 Indenture, the Second Supplemental Indenture, and the First Supplemental Indenture.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01936","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The nature of AMCOR's restructuring liability as of Q2 of FY2023 close is primarily related to the costs associated with the company's restructuring activities. These activities were primarily due to the Russia-Ukraine conflict and the integration of acquired Bemis operations. The purpose of this liability is to cover the costs associated with these restructuring activities, which include employee costs, fixed asset related costs, and other costs. The company expects the majority of this liability to be paid within the next twelve months. The accruals related to these restructuring activities have been recorded on the unaudited condensed consolidated balance sheets under other current liabilities and other non-current liabilities.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01930","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The real change in sales for AMCOR in FY 2023 vs FY 2022, excluding the impact of FX movement, passthrough costs and one-off items, is 0% as indicated by the \"Comparable Constant Currency Growth %\" row.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01928","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"AMCOR's Adjusted Non GAAP EBITDA for FY 2023 was $2,018 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01148","model_name":"gpt-4","eval_mode":"oracle_reverse","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.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00684","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Gross margin is calculated as gross profit divided by net sales. For Amcor plc, the gross margins for the years 2021, 2022, and 2023 are approximately 21.2%, 19.4%, and 18.5% respectively. This indicates a decreasing trend in gross margin over the three-year period. Therefore, it can be concluded that Amcor does not have an improving gross margin profile as of FY2023. \n\nGross margin is a useful metric for a company like Amcor as it provides insight into the company's profitability after considering the cost of goods sold. A decreasing gross margin could indicate rising costs or falling prices, which could be a concern for the company's profitability.","label":"Correct Answer"}
{"financebench_id":"financebench_id_03069","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The FY2015 depreciation and amortization (D&A from cash flow statement) % margin for AMD can be calculated by dividing the depreciation and amortization by the net revenue and multiplying by 100. \n\nFrom the provided financial statements, the depreciation and amortization for FY2015 is $167 million and the net revenue for FY2015 is $3,991 million. \n\nSo, the D&A % margin for FY2015 is (167 \/ 3,991) * 100 = 4.19%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00917","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The operating margin for AMD in FY22 was primarily driven by the amortization of intangible assets associated with the acquisition of Xilinx. This led to a decrease in operating income from $3.6 billion in 2021 to $1.3 billion in 2022. Operating margin is a useful metric for AMD as it provides insight into the company's operational efficiency and profitability before accounting for interest and taxes. However, it's important to note that the margin can be significantly impacted by non-operational factors such as the amortization of intangible assets from acquisitions, which may not reflect the company's underlying operational performance.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01198","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The change in revenue for AMD in FY22 was driven by several factors. There was a 64% increase in Data Center segment revenue primarily due to higher sales of their EPYC\u2122 server processors, a 21% increase in Gaming segment revenue primarily due to higher semi-custom product sales, and a significant increase in Embedded segment revenue from the prior year period driven by the inclusion of Xilinx embedded product sales. However, this growth was partially offset by a 10% decrease in Client segment revenue primarily due to lower processor shipments driven by a weak PC market and significant inventory correction actions across the PC supply chain.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00757","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, AMD reported customer concentration in FY22. One customer accounted for 16% of their consolidated net revenue for the year ended December 31, 2022.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01279","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Operating activities brought in the most cash flow for AMD in FY22.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00563","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The AMD reporting segment where sales proportionally increased the most from FY21 to FY22, excluding Embedded, is the Data Center segment.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00995","model_name":"gpt-4","eval_mode":"oracle_reverse","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 FY22, AMD primarily offers the following products and services:\n\n1. 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.\n2. CPUs, accelerated processing units (APUs) that integrate CPUs and GPUs, and chipsets for desktop and notebook personal computers.\n3. Discrete GPUs, and semi-custom SoC products and development services.\n4. Embedded CPUs, GPUs, APUs, FPGAs, and Adaptive SoC products.\n5. From time to time, AMD may also sell or license portions of its intellectual property (IP) portfolio.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01964","model_name":"gpt-4","eval_mode":"oracle_reverse","temp":0.01,"question":"What was the largest liability in American Express's Balance Sheet in 2022?","gold_answer":"Customer deposits","model_answer":"The largest liability in American Express's Balance Sheet in 2022 was Customer deposits, amounting to $110,239 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01981","model_name":"gpt-4","eval_mode":"oracle_reverse","temp":0.01,"question":"Was American Express able to retain card members during 2022?","gold_answer":"Yes","model_answer":"Yes, American Express was able to retain card members during 2022. The report mentions that Card Member retention remained high, demonstrating the impact of investments they have made in their premium value propositions.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00720","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The document provided does not specifically mention the gross margin for American Express for FY2022. However, it's important to note that gross margin might not be the most useful metric for a financial services company like American Express. \n\nGross margin is typically used in industries that sell physical goods, as it measures the difference between revenue and the cost of goods sold (COGS). In the case of American Express, which is a financial services company, they don't sell physical goods, so they don't have a traditional COGS. \n\nInstead, financial services companies typically focus on metrics such as net interest income, non-interest income, and provisions for credit losses. These metrics provide a more accurate picture of a financial institution's profitability and financial health. For example, in the case of American Express, we can see that their total revenues net of interest expense increased from $42,380 million in 2021 to $52,862 million in 2022. Similarly, their net income decreased from $8,060 million in 2021 to $7,514 million in 2022. These figures provide a more relevant insight into the company's financial performance than gross margin would.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01028","model_name":"gpt-4","eval_mode":"oracle_reverse","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 2022, American Express primarily operates in the United States, Europe, the Middle East and Africa (EMEA), Asia Pacific, Australia and New Zealand (APAC), and Latin America, Canada and the Caribbean (LACC).","label":"Correct Answer"}
{"financebench_id":"financebench_id_01351","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The effective tax rate of American Express has changed from 24.6% in FY2021 to 21.6% in FY2022.","label":"Correct Answer"}
{"financebench_id":"financebench_id_05718","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"American Water Works paid out $389 million in cash dividends for FY2020.","label":"Correct Answer"}
{"financebench_id":"financebench_id_04254","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The unadjusted operating income for American Water Works in FY2021 is $1,196 million and the depreciation and amortization from the cash flow statement is $636 million. Therefore, the unadjusted EBITDA for FY2021 is $1,196 million + $636 million = $1,832 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_02608","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"To calculate the 3-year average net profit margin, we first need to find the net profit margin for each year. The net profit margin is calculated by dividing the net earnings by the revenue and multiplying by 100 to get a percentage.\n\nFor FY2015:\nNet earnings = $1,233 million\nRevenue = $40,339 million\nNet profit margin = (1,233 \/ 40,339) * 100 = 3.1%\n\nFor FY2016:\nNet earnings = $897 million\nRevenue = $39,528 million\nNet profit margin = (897 \/ 39,528) * 100 = 2.3%\n\nFor FY2017:\nNet earnings = $1,228 million\nRevenue = $39,403 million\nNet profit margin = (1,228 \/ 39,403) * 100 = 3.1%\n\nThe 3-year average net profit margin is then calculated by adding up the annual net profit margins and dividing by 3:\n\n(3.1% + 2.3% + 3.1%) \/ 3 = 2.8%\n\nSo, the 3-year average net profit margin for Best Buy from FY2015 to FY2017 is 2.8%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_04417","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The year-end FY2019 total amount of inventories for Best Buy is $5,409 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01077","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The filing does not mention any acquisitions made by Best Buy in FY2023 and FY2021. However, in FY2022, Best Buy acquired all of the outstanding shares of two companies:\n\n1. Current Health Ltd., a care-at-home technology platform, was acquired on November 2, 2021, for a net cash consideration of $389 million. \n\n2. Two Peaks, LLC d\/b\/a Yardbird Furniture, a direct-to-consumer outdoor furniture company, was acquired on November 4, 2021, for a net cash consideration of $79 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01275","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Operating activities brought in the most cash flow for Best Buy in FY2023.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00685","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Gross margin is calculated as gross profit divided by revenue. For Best Buy, the gross margins for the fiscal years ended January 30, 2021, January 29, 2022, and January 28, 2023, are as follows:\n\n- For the fiscal year ended January 30, 2021, the gross margin is 10,573 \/ 47,262 = 22.38%\n- For the fiscal year ended January 29, 2022, the gross margin is 11,640 \/ 51,761 = 22.49%\n- For the fiscal year ended January 28, 2023, the gross margin is 9,912 \/ 46,298 = 21.41%\n\nThe gross margins for these years fluctuate by less than 2%, so it can be said that Best Buy's gross margins are historically consistent. \n\nGross margin is a relevant metric for a company like Best Buy because it shows the proportion of money left over from revenues after accounting for the cost of goods sold. It's a key indicator of a company's financial health and business model efficiency.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00288","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, there was a drop in Cash & Cash equivalents between FY 2023 and Q2 of FY 2024. The cash and cash equivalents decreased from $1,874 million in FY 2023 to $1,093 million in Q2 of FY 2024.","label":"Correct Answer"}
{"financebench_id":"financebench_id_04660","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The working capital ratio for Block (formerly known as Square) for FY2016 is 1.73.","label":"Correct Answer"}
{"financebench_id":"financebench_id_07661","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Block (formerly known as Square) generated $381,603,000 in cash flow from operating activities in FY2020. In USD millions, this is $381.603 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_03838","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The total revenue for FY2019 was $4,713,500 and for FY2020 was $9,497,578. \n\nThe growth rate can be calculated as follows: \n\n[(FY2020 Revenue - FY2019 Revenue) \/ FY2019 Revenue] * 100\n\n= [($9,497,578 - $4,713,500) \/ $4,713,500] * 100\n\n= 101.4%\n\nSo, the FY2019 - FY2020 total revenue growth rate for Block (formerly known as Square) is 101.4%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_10285","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Boeing's year end FY2018 net property, plant, and equipment is $12,645 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01091","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, Boeing has reported ongoing legal battles from FY2022. These include multiple legal actions filed against them due to the accidents of Lion Air Flight 610 in October 2018 and Ethiopian Airlines Flight 302 in March 2019. They also have an ongoing dispute with Embraer S.A. that is currently in arbitration, related to the termination of agreements to establish joint ventures.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01290","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The primary customers of Boeing as of FY2022 are commercial airlines and the U.S. government, specifically the United States Department of Defense (U.S. DoD).","label":"Correct Answer"}
{"financebench_id":"financebench_id_00464","model_name":"gpt-4","eval_mode":"oracle_reverse","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, particularly due to its heavy dependence on commercial airlines. The filing mentions that the airline industry has historically been cyclical and very competitive, experiencing significant profit swings and constant challenges to be more cost competitive.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00517","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, there are three product\/service categories that represent more than 20% of Boeing's revenue for FY2022. These are Commercial Airplanes with $25,867 million, Defense, Space & Security with $23,162 million, and Global Services with $17,611 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00494","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Boeing is forecasting that the 787 program, which is currently producing at low rates, will gradually increase to 5 per month in 2023. Production of the 777X, which is currently paused, is expected to resume in 2023. The 737 program, which has experienced operational and supply chain challenges stabilizing production at 31 per month, is also planned to gradually increase based on market demand and supply chain capacity.","label":"Correct Answer"}
{"financebench_id":"financebench_id_03473","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The FY2017 net income for Coca Cola is $1,248 million. The total assets for FY2017 and FY2016 are $87,896 million and $87,270 million respectively. \n\nThe average total assets between FY2016 and FY2017 is calculated as: ($87,896 million + $87,270 million) \/ 2 = $88,083 million.\n\nTherefore, the FY2017 return on assets (ROA) for Coca Cola is calculated as: $1,248 million \/ $88,083 million = 0.01416 or 1.42% when rounded to two decimal places.","label":"Correct Answer"}
{"financebench_id":"financebench_id_09724","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The Cost of Goods Sold (COGS) % margin for Coca Cola in FY2021 can be calculated by dividing the COGS by the Net Operating Revenues and multiplying by 100. \n\nUsing the figures from the income statement:\n\nCOGS = $15,357 million\nNet Operating Revenues = $38,655 million\n\nCOGS % margin = (COGS \/ Net Operating Revenues) * 100\n\nCOGS % margin = ($15,357 \/ $38,655) * 100 = 39.73%","label":"Correct Answer"}
{"financebench_id":"financebench_id_06272","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The dividend payout ratio is calculated by dividing the total cash dividends paid by the net income attributable to shareholders.\n\nFrom the income statement, the net income attributable to shareholders for FY2022 is $9,542 million.\n\nFrom the cash flow statement, the total cash dividends paid for FY2022 is $7,616 million.\n\nTherefore, the dividend payout ratio for FY2022 is (7,616 \/ 9,542) * 100 = 79.82%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_02981","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"To calculate the 3-year average unadjusted operating income % margin, we first need to find the operating income margin for each year. This is done by dividing the operating income by the net sales and multiplying by 100 to get a percentage. \n\nFor 2019, the operating income margin is (1,306 \/ 11,503) * 100 = 11.35%\nFor 2020, the operating income margin is (509 \/ 11,303) * 100 = 4.50%\nFor 2021, the operating income margin is (2,112 \/ 14,082) * 100 = 15.00%\n\nThe 3-year average unadjusted operating income % margin is then the average of these three percentages, which is (11.35% + 4.50% + 15.00%) \/ 3 = 10.28%\n\nSo, the FY2019 - FY2021 3 year average unadjusted operating income % margin for Corning is 10.3%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01346","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The effective tax rate of Corning has increased by 3% between FY2021 and FY2022.","label":"Correct Answer"}
{"financebench_id":"financebench_id_04209","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Costco had total assets of $59,268 million at the end of FY2021.","label":"Correct Answer"}
{"financebench_id":"financebench_id_05915","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The FY2018 revenue for CVS Health is $194,579 million. The property and equipment net for FY2018 is $11,349 million and for FY2017 is $10,292 million. \n\nThe average property, plant, and equipment (PP&E) between FY2017 and FY2018 is calculated as: \n($11,349 million + $10,292 million) \/ 2 = $10,820.5 million\n\nThe fixed asset turnover ratio for FY2018 is then calculated as: \n$194,579 million \/ $10,820.5 million = 17.98\n\nSo, the FY2018 fixed asset turnover ratio for CVS Health is 17.98.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01107","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, CVS Health has reported several materially important ongoing legal battles from 2022, 2021, and 2020. These include class actions and lawsuits alleging that the company's retail pharmacies overcharged for prescription drugs, investigations and lawsuits concerning its Pharmacy Benefit Management (PBM) practices, and litigation related to the widespread prescription opioid abuse. In particular, CVS Health was found liable by a jury in a trial in federal court in Ohio in November 2021, and in 2022, it entered into several settlement agreements related to opioid claims, including a settlement with the State of Florida for $484 million. In December 2022, the company agreed to a settlement agreement to resolve substantially all opioid claims against it by states and political subdivisions, with a maximum payable amount of approximately $4.3 billion in opioid remediation and $625 million in attorneys\u2019 fees and costs.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00790","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Based on the FY2022 data, CVS Health appears to be a capital-intensive business. This is indicated by the high value of its total assets ($228,275 million), including significant amounts in property and equipment, goodwill, and intangible assets. Additionally, the company has substantial long-term investments and long-term debt, suggesting significant capital investment in its operations.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00822","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, Richard A. Johnson had substantially more votes against joining the board than the other nominees, with a total of 16,105,005 votes against.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00839","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, Foot Locker's new CEO, Mary N. Dillon, has previous CEO experience in similar companies. She served as the Chief Executive Officer and a member of the Board of Directors of Ulta Beauty, Inc. from July 2013 through June 2021. Prior to Ulta, she served as President and Chief Executive Officer and a member of the Board of Directors of United States Cellular Corporation from 2010 through 2013.","label":"Correct Answer"}
{"financebench_id":"financebench_id_03471","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The working capital ratio for General Mills in FY2020 is 0.68 (5,121.3 \/ 7,491.5).","label":"Correct Answer"}
{"financebench_id":"financebench_id_04854","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The FY2020 free cash flow (FCF) for General Mills can be calculated as follows: Cash from operations (Net cash provided by operating activities) is $3,676.2 million and capital expenditures (Purchases of land, buildings, and equipment) is $460.8 million. Therefore, FCF = $3,676.2 million - $460.8 million = $3,215.4 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_10136","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The retention ratio is calculated as 1 - (Dividends Paid \/ Net Income). \n\nFrom the statements, we can see that the dividends paid in FY2022 were $1,244.5 million and the net income attributable to shareholders was $2,707.3 million.\n\nSo, the retention ratio for General Mills in FY2022 is 1 - (1,244.5 \/ 2,707.3) = 0.54 or 54.00%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00651","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"No, the growth in Johnson & Johnson's adjusted EPS is not expected to accelerate in FY2023. The company guides an adjusted operational EPS of $10.50 for 2023, reflecting a growth of 3.5%, which is lower than the 3.6% growth seen in 2022.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00956","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Based on the provided information, Johnson & Johnson's financials for FY2022 do not indicate a high growth company. While there was an increase in worldwide sales by 1.3% to $94.9 billion, this growth rate is significantly lower than the 13.6% increase in 2021. Additionally, sales by international companies decreased by 0.6% in 2022. The five-year and ten-year compound annual growth rates for worldwide, U.S., and international sales range from 2.2% to 5.0%, which are not typically indicative of high growth.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00711","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The inventory turnover ratio is calculated by dividing the cost of goods sold (COGS) by the average inventory. \n\nFrom the provided financial statements, we can see that the cost of products sold (which is equivalent to COGS) for Johnson & Johnson in 2022 was $31,089 million. \n\nThe inventory at the beginning of 2022 was $10,387 million and at the end of 2022 was $12,483 million. Therefore, the average inventory for 2022 is calculated as ($10,387 million + $12,483 million) \/ 2 = $11,435 million.\n\nSo, the inventory turnover ratio for Johnson & Johnson in 2022 is $31,089 million \/ $11,435 million = 2.72 times.\n\nThis means that Johnson & Johnson sold its inventory approximately 2.72 times in FY2022. \n\nThis ratio is meaningful for the company as it indicates how efficiently the company is managing its inventory. A higher inventory turnover ratio is generally positive and indicates that the company is selling its products quickly, reducing the costs associated with holding inventory. However, if the ratio is too high, it may indicate that the company is not keeping enough inventory on hand to meet demand.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01487","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, Johnson & Johnson's net earnings as a percent of sales increased in Q2 of FY2023 compared to Q2 of FY2022. It increased from 20.0% in FY2022 to 20.1% in FY2023.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01488","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The business segment of Johnson & Johnson that will be treated as a discontinued operation from August 30, 2023 onward is its Consumer Health business.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01490","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The gain accruing to Johnson & Johnson as a result of the separation of its Consumer Health business segment is approximately $20 billion as of August 30, 2023.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01491","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Johnson & Johnson secured $13.2 billion in cash proceeds from the separation of Kenvue, as of August 30, 2023.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00299","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The Corporate segment of JPM's business had the lowest net revenue in Q1 2021, with a total net revenue of $(473) million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_02119","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Based on the information provided, each shareholder could get $66.56 per share. This is based on the TBVPS (Tangible Book Value Per Share) which ended the first quarter of 2021 at $66.56. This figure represents the net asset value of the company, or how much each share would be worth if the company was liquidated, after all debts and liabilities were paid.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00394","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"In Q2 2022, the Corporate & Investment Bank segment of JPM had the highest net income with $3,725 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00206","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The document provided does not contain specific information about JPMorgan Chase's gross margins. However, it's important to note that gross margin is not typically a relevant or commonly used metric for financial services companies like JPMorgan Chase. This is because gross margin is calculated as sales revenue minus cost of goods sold, divided by sales revenue. For companies in the manufacturing or retail sectors, this is a straightforward calculation. However, banks and financial institutions do not sell physical goods, so they don't have a \"cost of goods sold\" in the traditional sense. Instead, financial institutions have net interest income, which is the difference between the revenue generated from a bank's assets and the expenses associated with paying out its liabilities. They also have non-interest income from fees, services, and other sources. Therefore, metrics such as net interest margin, return on assets (ROA), and return on equity (ROE) are more commonly used to evaluate the performance and profitability of banks and financial institutions.","label":"Correct Answer"}
{"financebench_id":"financebench_id_02049","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, the Value at Risk (VaR) that JPM faced in the second fiscal quarter of 2023 decreased compared to the same period in the prior year. The average total VaR decreased by $7 million for the three months ended June 30, 2023, compared with the same period in the prior year. This decrease was predominantly driven by risk reductions impacting Credit Portfolio VaR as well as fixed income.","label":"Correct Answer"}
{"financebench_id":"financebench_id_10499","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The inventory turnover ratio for Kraft Heinz's FY2019 can be calculated as follows:\n\nCOGS for FY2019 = $16,830 million\nAverage inventory between FY2018 and FY2019 = ($2,667 million + $2,721 million) \/ 2 = $2,694 million\n\nInventory turnover ratio = COGS \/ Average inventory = $16,830 million \/ $2,694 million = 6.24.","label":"Correct Answer"}
{"financebench_id":"financebench_id_04412","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The asset turnover ratio for Lockheed Martin's FY2020 can be calculated as follows:\n\nFirst, we need to find the average total assets between FY2019 and FY2020. \n\nTotal assets for FY2019 = $47,528 million\nTotal assets for FY2020 = $50,710 million\n\nAverage total assets = (Total assets for FY2019 + Total assets for FY2020) \/ 2\nAverage total assets = ($47,528 million + $50,710 million) \/ 2 = $49,119 million\n\nNext, we need to find the FY2020 revenue, which is the total net sales for FY2020. \n\nTotal net sales for FY2020 = $65,398 million\n\nFinally, we can calculate the asset turnover ratio:\n\nAsset turnover ratio = FY2020 revenue \/ Average total assets\nAsset turnover ratio = $65,398 million \/ $49,119 million = 1.33 (rounded to two decimal places)","label":"Correct Answer"}
{"financebench_id":"financebench_id_03031","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Lockheed Martin's FY2021 net working capital is calculated as total current assets less total current liabilities. From the balance sheet, total current assets for FY2021 are $19,815 million and total current liabilities are $13,997 million. Therefore, the net working capital for FY2021 is $19,815 million - $13,997 million = $5,818 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_04171","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The year-end FY2018 amount of accounts payable for MGM Resorts is USD 302.578 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_03849","model_name":"gpt-4","eval_mode":"oracle_reverse","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 capex as a % of revenue for MGM Resorts, we first need to find the capex and revenue for each year from 2018 to 2020.\n\nFrom the Consolidated Statements of Cash Flows, we find the following capex (capital expenditures) data:\n- 2020: $270,579 thousand\n- 2019: $739,006 thousand\n- 2018: $1,486,843 thousand\n\nFrom the Consolidated Statements of Operations, we find the following revenue data:\n- 2020: $5,162,082 thousand\n- 2019: $12,899,672 thousand\n- 2018: $11,763,096 thousand\n\nNow we calculate capex as a % of revenue for each year:\n- 2020: (270,579 \/ 5,162,082) * 100 = 5.2%\n- 2019: (739,006 \/ 12,899,672) * 100 = 5.7%\n- 2018: (1,486,843 \/ 11,763,096) * 100 = 12.6%\n\nFinally, we calculate the 3-year average: (5.2% + 5.7% + 12.6%) \/ 3 = 7.8%\n\nSo, the FY2018 - FY2020 3 year average of capex as a % of revenue for MGM Resorts is 7.8%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00382","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The region with the highest EBITDAR contribution for MGM during FY2022 was the Las Vegas Strip Resorts with $3,142,308 in thousands.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01912","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The region that had the worst topline performance for MGM during FY2022 was MGM China, with net revenues decreasing by 44% to $674 million compared to $1.2 billion in the prior year.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01254","model_name":"gpt-4","eval_mode":"oracle_reverse","temp":0.01,"question":"Has MGM Resorts paid dividends to common shareholders in FY2022?","gold_answer":"Yes. MGM maintained 0.01$ per share annual dividend through out FY 2022.","model_answer":"Yes, MGM Resorts has paid dividends to common shareholders in FY2022. However, the annual dividend was reduced to $0.01 per share.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00407","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The type of debt that received the largest investment among the short-term investments for MGM in H1 FY2023 was Corporate bonds.","label":"Correct Answer"}
{"financebench_id":"financebench_id_04700","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The FY2016 Cost of Goods Sold (COGS) for Microsoft is $32,780 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00552","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"No, Microsoft has not increased its debt on the balance sheet between FY2023 and the FY2022 period. In fact, the long-term debt has decreased from $47,032 million in FY2022 to $41,990 million in FY2023. Similarly, the current portion of long-term debt also decreased from $2,749 million in FY2022 to $5,247 million in FY2023.","label":"Correct Answer"}
{"financebench_id":"financebench_id_03282","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Netflix's year end FY2017 total current liabilities is $5,466,312,000 or $5,466.312 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_04302","model_name":"gpt-4","eval_mode":"oracle_reverse","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 the three year average of cost of goods sold as a % of revenue, we first need to calculate the ratio for each year and then find the average.\n\nFor 2016: (17,405 \/ 32,376) * 100 = 53.8%\nFor 2017: (19,038 \/ 34,350) * 100 = 55.4%\nFor 2018: (20,441 \/ 36,397) * 100 = 56.2%\n\nThen, we find the average of these three percentages: (53.8 + 55.4 + 56.2) \/ 3 = 55.1%\n\nSo, Nike's three year average of cost of goods sold as a % of revenue from FY2016 to FY2018 is approximately 55.1%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_03531","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Nike had total current assets of $16,525 million at the end of FY2019.","label":"Correct Answer"}
{"financebench_id":"financebench_id_04080","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The inventory turnover ratio for Nike in FY2021 is calculated as follows:\n\nCost of Goods Sold (COGS) for FY2021 = $24,576 million\nInventory for FY2020 = $7,367 million\nInventory for FY2021 = $6,854 million\n\nAverage inventory between FY2020 and FY2021 = (Inventory for FY2020 + Inventory for FY2021) \/ 2 = ($7,367 million + $6,854 million) \/ 2 = $7,110.5 million\n\nInventory turnover ratio = COGS \/ Average inventory = $24,576 million \/ $7,110.5 million = 3.45 (rounded to two decimal places).","label":"Correct Answer"}
{"financebench_id":"financebench_id_01163","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Operations brought in the most cash flow for Nike in FY2023.","label":"Correct Answer"}
{"financebench_id":"financebench_id_04980","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The FY2021 capital expenditure amount for PepsiCo is $4.625 billion.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01009","model_name":"gpt-4","eval_mode":"oracle_reverse","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 FY2022, Pepsico primarily operates in the following geographies: United States, Canada, Latin America, Europe, Africa, the Middle East, South Asia, Asia Pacific, Australia, New Zealand, and China.","label":"Correct Answer"}
{"financebench_id":"financebench_id_04481","model_name":"gpt-4","eval_mode":"oracle_reverse","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, we first need to find the unadjusted operating income (EBIT) and Depreciation & Amortization (D&A) for FY2022.\n\nFrom the Consolidated Statement of Income, the operating profit for FY2022 is $11,512 million.\n\nFrom the Consolidated Statement of Cash Flows, the depreciation and amortization for FY2022 is $2,763 million.\n\nSo, the unadjusted EBITDA for FY2022 is the sum of operating profit and depreciation & amortization, which is $11,512 million + $2,763 million = $14,275 million.\n\nThe unadjusted EBITDA % margin is calculated by dividing the unadjusted EBITDA by the net revenue and multiplying by 100.\n\nFrom the Consolidated Statement of Income, the net revenue for FY2022 is $86,392 million.\n\nSo, the unadjusted EBITDA % margin for FY2022 is ($14,275 million \/ $86,392 million) * 100 = 16.52%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_03620","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The unadjusted EBITDA for PepsiCo in FY2022 can be calculated as follows:\n\nOperating Profit (from the income statement): $11,512 million\nDepreciation and Amortization (from the cash flow statement): $2,763 million\n\nSo, unadjusted EBITDA = Operating Profit + Depreciation and Amortization = $11,512 million + $2,763 million = $14,275 million\n\nThe capital expenditure (capex) for FY2022 (from the cash flow statement) is $5,207 million.\n\nTherefore, the FY2022 unadjusted EBITDA less capex for PepsiCo is $14,275 million - $5,207 million = $9,068 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01328","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The quantity of restructuring and impairment charges outlined in PepsiCo's income statements for FY2022 is $411 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00735","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The text does not provide specific information on Pepsico's materially important ongoing legal battles from FY2022 and FY2021.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01476","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"PepsiCo raised the full year guidance for core constant currency EPS growth by 1 percentage point in FY2023Q1.","label":"Correct Answer"}
{"financebench_id":"financebench_id_01474","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"PepsiCo raised its full-year guidance for FY2023 due to a strong start to the year, with resilient performance across its categories and geographies during the first quarter. The company's investments in becoming a faster, stronger, and better organization, along with its strategic agenda and initiatives, have laid the foundation for durable and sustainable growth. As a result, they now expect their full-year 2023 organic revenue to increase 8 percent (previously 6 percent) and core constant currency EPS to increase 9 percent (previously 8 percent).","label":"Correct Answer"}
{"financebench_id":"financebench_id_01482","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The shareholder proposal for a congruency report by PepsiCo on net-zero emissions policies was defeated at the AGM held on May 3, 2023.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00705","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"PepsiCo increased its unsecured five year revolving credit agreement by $400,000,000 on May 26, 2023.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00882","model_name":"gpt-4","eval_mode":"oracle_reverse","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 May 26, 2023, PepsiCo may borrow a total of $8,400,000,000 under its unsecured revolving credit agreements. This includes up to $4,200,000,000 under the 2023 364 Day Credit Agreement and up to $4,200,000,000 under the 2023 Five Year Credit Agreement.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00302","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, Pfizer grew its Property, Plant and Equipment (PPNE) from $13,745 million in FY20 to $14,882 million in FY21.","label":"Correct Answer"}
{"financebench_id":"financebench_id_02416","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The three main companies acquired by Pfizer, as mentioned in this 10K report, are Trillium, Array, and Therachon.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00702","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, there was a significant event in 2019 that is not part of Pfizer's standard business operations and substantially increased net income. The company recorded a gain of $8,107 million on the completion of the Consumer Healthcare Joint Venture transaction. This is a non-recurring event and significantly contributed to the net income for that year.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00724","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The geographic region that had the biggest drop in Q2 2023 year over year revenues (on a percentage basis) for Pfizer was the Developed Rest of World, with a decrease of 74%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_02419","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The filing does not indicate that Pfizer is spinning off any large business segments as of Q2'2023. However, it does mention that Pfizer is separating from Upjohn and expects to incur costs of approximately $700 million in connection with this separation.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00521","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The consolidated statements of cash flows for Ulta Beauty, Inc. do not report any major acquisitions in FY2023 and FY2022. The line item \"Acquisitions, net of cash acquired\" shows a value of $0 for both years.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00859","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The derivative instrument that had the highest notional value in FY 2021 was Cross currency swaps with a value of $32,502 million.","label":"Correct Answer"}
{"financebench_id":"financebench_id_02024","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Verizon expected to pay $1,097 million in pension benefits and $862 million in health care and life benefits for its retirees in 2024.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00215","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, Verizon is a capital-intensive business based on FY 2022 data. The company reported capital expenditures of $23.1 billion, including $6.2 billion in C-Band related capital expenditures. This indicates a significant investment in physical assets such as wireless networks, high-speed fiber, and other advanced technologies.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00216","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The quick ratio, also known as the acid-test ratio, is a measure of a company's ability to meet its short-term liabilities with its most liquid assets. It is calculated as (Cash and Cash Equivalents + Marketable Securities + Accounts Receivable) \/ Current Liabilities.\n\nBased on the provided balance sheet for Verizon Communications Inc. for FY 2022, the quick ratio would be calculated as follows:\n\nQuick Ratio = (Cash and Cash Equivalents + Accounts Receivable) \/ Current Liabilities\n= ($2,605 million + $24,506 million) \/ $50,171 million\n= $27,111 million \/ $50,171 million\n= 0.54\n\nA quick ratio less than 1 indicates that the company does not have enough liquid assets to cover its short-term liabilities. Therefore, based on the quick ratio of 0.54 for FY 2022, it appears that Verizon may not have a healthy liquidity profile as it may struggle to meet its short-term obligations if they were all due immediately.\n\nHowever, it's important to note that the quick ratio is just one measure of liquidity. Other factors such as cash flow, profitability, and the company's ability to generate revenue should also be considered when assessing the overall financial health of the company. Additionally, industry norms and company-specific factors can influence what is considered a \"healthy\" quick ratio. For instance, companies in the telecom industry often have large amounts of fixed assets and long-term investments, which can result in lower quick ratios.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00566","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"No, Verizon has not increased its total debt on the balance sheet between the 2022 and 2021 fiscal period. The total debt was $150,868 million in 2021 and decreased slightly to $150,639 million in 2022.","label":"Correct Answer"}
{"financebench_id":"financebench_id_04784","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The operating income margin for a fiscal year can be calculated by dividing the operating income for that year by the total revenues for that year. \n\nFor FY2018, the operating income is $20,437 million and the total revenues are $500,343 million. Therefore, the operating income margin for FY2018 is (20,437 \/ 500,343) * 100 = 4.1%.\n\nFor FY2019, the operating income is $21,957 million and the total revenues are $514,405 million. Therefore, the operating income margin for FY2019 is (21,957 \/ 514,405) * 100 = 4.3%.\n\nThe change in unadjusted operating income % margin from FY2018 to FY2019 is therefore 4.3% - 4.1% = 0.2%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_06741","model_name":"gpt-4","eval_mode":"oracle_reverse","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 unadjusted EBITDA, we first need to add the operating income and depreciation and amortization for each fiscal year. \n\nFor FY2018:\nOperating income = $20,437 million\nDepreciation and amortization = $10,529 million\nUnadjusted EBITDA = $20,437 million + $10,529 million = $30,966 million\n\nFor FY2019:\nOperating income = $21,957 million\nDepreciation and amortization = $10,678 million\nUnadjusted EBITDA = $21,957 million + $10,678 million = $32,635 million\n\nFor FY2020:\nOperating income = $20,568 million\nDepreciation and amortization = $10,987 million\nUnadjusted EBITDA = $20,568 million + $10,987 million = $31,555 million\n\nNext, we calculate the EBITDA margin for each year by dividing the unadjusted EBITDA by the total revenues and multiplying by 100 to get the percentage.\n\nFor FY2018:\nEBITDA margin = ($30,966 million \/ $500,343 million) * 100 = 6.2%\n\nFor FY2019:\nEBITDA margin = ($32,635 million \/ $514,405 million) * 100 = 6.3%\n\nFor FY2020:\nEBITDA margin = ($31,555 million \/ $523,964 million) * 100 = 6.0%\n\nFinally, we calculate the 3-year average EBITDA margin by adding the three annual EBITDA margins and dividing by 3.\n\n3-year average EBITDA margin = (6.2% + 6.3% + 6.0%) \/ 3 = 6.2% \n\nSo, the FY2018 - FY2020 3 year average unadjusted EBITDA % margin for Walmart is 6.2%.","label":"Correct Answer"}
{"financebench_id":"financebench_id_00499","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Based on the FY2022 data, 3M appears to be a capital-intensive business. This is indicated by the high value of property, plant, and equipment, which is $25,998 million before depreciation. The company also has significant operating expenses, including cost of sales and research, development, and related expenses. Additionally, the company has made significant investments in inventories and has a high level of total assets ($46,455 million). All these factors suggest that 3M requires a large amount of capital to operate its business.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_00807","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The quick ratio, also known as the acid-test ratio, is a measure of a company's ability to meet its short-term obligations using its most liquid assets. It is calculated as (Cash + Marketable Securities + Accounts Receivable) \/ Current Liabilities.\n\nBased on the provided balance sheet for 3M Company for Q2 of FY2023, the quick ratio would be calculated as follows:\n\nQuick Ratio = (Cash and cash equivalents + Marketable securities \u2014 current + Accounts receivable) \/ Total current liabilities\n= ($4,258 million + $56 million + $4,947 million) \/ $10,936 million\n= $9,261 million \/ $10,936 million\n= 0.847\n\nA quick ratio less than 1 indicates that the company does not have enough liquid assets to cover its current liabilities. Therefore, based on the quick ratio, 3M does not have a healthy liquidity profile for Q2 of FY2023. \n\nHowever, it's important to note that the quick ratio is just one measure of liquidity. Other factors such as the company's cash flow, sales growth, and overall financial health should also be considered when assessing its liquidity profile.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_06655","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The question asks for the calculation of Amazon's FY2017 days payable outstanding (DPO). To calculate this, we need the average accounts payable for FY2016 and FY2017, the cost of goods sold (COGS) for FY2017, and the change in inventory between FY2016 and FY2017.\n\nFrom the balance sheet, we can see that the accounts payable for FY2016 and FY2017 are $25,309 million and $34,616 million respectively. The average accounts payable is therefore ($25,309 + $34,616) \/ 2 = $29,962.5 million.\n\nFrom the P&L statement, we can see that the COGS for FY2017 is $111,934 million.\n\nFrom the balance sheet, we can see that the inventory for FY2016 and FY2017 are $11,461 million and $16,047 million respectively. The change in inventory is therefore $16,047 - $11,461 = $4,586 million.\n\nSubstituting these values into the DPO formula gives:\n\nDPO = 365 * ($29,962.5 \/ ($111,934 + $4,586)) = 97.79 days\n\nTherefore, Amazon's FY2017 days payable outstanding (DPO) is 97.79 days.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_00222","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The 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 as (Cash and Cash Equivalents + Marketable Securities + Accounts Receivable) \/ Current Liabilities.\n\nBased on the provided balance sheet for AMD for FY22, the quick ratio would be calculated as follows:\n\nQuick Ratio = (Cash and Cash Equivalents + Accounts Receivable) \/ Current Liabilities\n= ($4,835 million + $4,126 million) \/ $6,369 million\n= $8,961 million \/ $6,369 million\n= 1.41\n\nA quick ratio of 1.41 indicates that AMD has $1.41 of liquid assets available to cover each $1 of its current liabilities. Generally, a quick ratio of 1 or more is considered good in most industries as it indicates that the company can pay off its current liabilities without selling off any long-term or capital assets.\n\nTherefore, based on its quick ratio for FY22, AMD appears to have a reasonably healthy liquidity profile. However, it's important to note that this is a simplified analysis and a more comprehensive assessment of AMD's financial health would consider other factors and financial ratios as well.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_00723","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The document provided does not directly provide information on the operating margin for the years 2020, 2021, and 2022. Operating margin is calculated as operating income (or earnings before interest and taxes - EBIT) divided by total revenue, and it measures a company's profitability and how well it controls its costs.\n\nHowever, we can infer some information from the data provided. The total revenues net of interest expense after provisions for credit losses have increased each year from 2020 to 2022, and the total expenses have also increased each year. If we assume these figures roughly correspond to revenue and operating expenses, it appears that both are increasing. \n\nWithout exact figures, it's hard to say definitively whether the operating margin is improving. If the rate of increase in revenue is higher than the rate of increase in expenses, then the operating margin would be improving. However, if expenses are growing at a faster rate than revenue, the operating margin would be declining.\n\nFor a financial institution like AMEX, operating margin can be a useful metric as it provides insight into how efficiently the company is being run. However, it's also important to consider other factors such as interest income and expense, provisions for credit losses, and the nature of the company's revenues and expenses, which can be influenced by factors such as interest rates and credit risk.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_00476","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The document does not provide information on any debt securities registered to trade on a national securities exchange under American Express' name as of 2022.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_00070","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Working capital is calculated as current assets minus current liabilities. Based on the FY2022 data provided, American Water Works Company has current assets of $1,250 million and current liabilities of $2,811 million. \n\nTherefore, the working capital for FY2022 is $1,250 million - $2,811 million = -$1,561 million. \n\nThis indicates that American Water Works Company has negative working capital for FY2022. This could suggest that the company may have trouble meeting its short-term obligations. However, it's important to note that this is just one financial metric and doesn't necessarily indicate financial distress. Some companies operate effectively with negative working capital due to their specific business models.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_00460","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Yes, there was a decrease in the number of Best Buy stores from Q2 of FY2023 to Q2 of FY2024. The number of stores decreased from 931 to 908.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_00678","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The gross margin profile for Boeing does not appear to be improving as of FY2022. Gross margin is calculated as total revenues minus the cost of goods sold (in this case, the cost of products and services), divided by total revenues. \n\nIn 2020, the gross margin was negative due to the cost of products and services exceeding total revenues. In 2021, the gross margin improved but was still relatively low. In 2022, the gross margin decreased again, indicating a worsening profile.\n\nHowever, it's important to note that gross margin may not be the most useful metric for a company like Boeing. This is because Boeing operates in the aerospace industry, which is characterized by high fixed costs and long product development cycles. The cost of producing aircraft is extremely high, and these costs are often incurred long before revenues are realized. Therefore, a low or negative gross margin in a given year does not necessarily indicate poor performance, but could reflect investments in future growth. \n\nMoreover, Boeing's financials have been significantly impacted by specific issues such as the grounding of the 737 Max and the impact of the COVID-19 pandemic on the aviation industry. These factors have led to increased costs and reduced revenues, negatively impacting the gross margin. Therefore, other metrics such as operating margin or net margin might provide a more accurate picture of Boeing's financial health.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_00005","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Working capital is calculated as current assets minus current liabilities. Based on the FY2022 data for Corning Incorporated, the current assets amount to $7,453 million and the current liabilities amount to $5,175 million. \n\nTherefore, the working capital for Corning in FY2022 is $7,453 million - $5,175 million = $2,278 million. \n\nSo, yes, Corning does have positive working capital based on FY2022 data. \n\nWorking capital is a useful metric for this company as it indicates the company's operational efficiency and short-term financial health. A positive working capital means that the company has enough resources to meet its short-term liabilities.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_04103","model_name":"gpt-4","eval_mode":"oracle_reverse","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), we first need to calculate the Days Inventory Outstanding (DIO), Days Sales Outstanding (DSO), and Days Payable Outstanding (DPO).\n\n1. DIO: 365 * (average inventory between FY2018 and FY2019) \/ (FY2019 COGS)\n   Average inventory = (FY2018 inventory + FY2019 inventory) \/ 2 = (1,642.2 + 1,559.3) \/ 2 = 1,600.75\n   DIO = 365 * 1,600.75 \/ 11,108.4 = 52.79\n\n2. DSO: 365 * (average accounts receivable between FY2018 and FY2019) \/ (FY2019 Revenue)\n   Average accounts receivable = (FY2018 receivables + FY2019 receivables) \/ 2 = (1,684.2 + 1,679.7) \/ 2 = 1,681.95\n   DSO = 365 * 1,681.95 \/ 16,865.2 = 36.47\n\n3. DPO: 365 * (average accounts payable between FY2018 and FY2019) \/ (FY2019 COGS + change in inventory between FY2018 and FY2019)\n   Average accounts payable = (FY2018 accounts payable + FY2019 accounts payable) \/ 2 = (2,746.2 + 2,854.1) \/ 2 = 2,800.15\n   Change in inventory = FY2019 inventory - FY2018 inventory = 1,559.3 - 1,642.2 = -82.9\n   DPO = 365 * 2,800.15 \/ (11,108.4 + -82.9) = 92.05\n\nFinally, CCC = DIO + DSO - DPO = 52.79 + 36.47 - 92.05 = -2.79. \n\nSo, the FY2019 cash conversion cycle (CCC) for General Mills is -2.79 days.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_01484","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"In FY2022, JnJ's US sales growth was 3.0%, while the international sales growth was 9.1%. Therefore, the international sales growth was higher compared to the US sales growth.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_03718","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"The Compound Annual Growth Rate (CAGR) is calculated by the following formula: \n\nCAGR = (Ending Value \/ Beginning Value) ^ (1 \/ Number of Years) - 1\n\nIn this case, the ending value is the total net sales for FY2022, which is $65,984 million. The beginning value is the total net sales for FY2020, which is $65,398 million. The number of years is 2.\n\nSo, the CAGR would be:\n\nCAGR = (65,984 \/ 65,398) ^ (1 \/ 2) - 1 = 0.0045 or 0.45%\n\nTherefore, Lockheed Martin's 2 year total revenue CAGR from FY2020 to FY2022 is 0.45%.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_04458","model_name":"gpt-4","eval_mode":"oracle_reverse","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 % margin, we first need to calculate the unadjusted EBITDA. \n\nUnadjusted EBITDA is calculated as Operating Income + Depreciation & Amortization (D&A). \n\nFrom the Consolidated Statements of Operations, the Operating Income for FY2015 is $305,826 (in thousands). \n\nFrom the Consolidated Statements of Cash Flows, the Depreciation & Amortization for FY2015 is the sum of \"Depreciation and amortization of property, equipment and intangibles\" and \"Amortization of DVD content assets\", which is $62,283 + $79,380 = $141,663 (in thousands). \n\nSo, the unadjusted EBITDA for FY2015 is $305,826 + $141,663 = $447,489 (in thousands).\n\nThe EBITDA % margin is calculated as (EBITDA \/ Revenue) * 100.\n\nFrom the Consolidated Statements of Operations, the Revenue for FY2015 is $6,779,511 (in thousands).\n\nSo, the unadjusted EBITDA % margin for FY2015 is ($447,489 \/ $6,779,511) * 100 = 6.6%.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_00080","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Working capital is calculated as current assets minus current liabilities. Based on the FY2022 data, PayPal's current assets amount to $57,517 million and current liabilities amount to $45,101 million. \n\nTherefore, the working capital for PayPal in FY2022 is $57,517 million - $45,101 million = $12,416 million. \n\nSo, yes, PayPal does have positive working capital based on FY2022 data. \n\nWorking capital is a useful metric for PayPal as it indicates the company's operational efficiency and short-term financial health. A positive working capital means that the company has enough resources to meet its short-term liabilities.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_00283","model_name":"gpt-4","eval_mode":"oracle_reverse","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":"Pfizer expects to incur costs of approximately $700 million in connection with separating Upjohn.","label":"Incorrect Answer"}
{"financebench_id":"financebench_id_06247","model_name":"gpt-4","eval_mode":"oracle_reverse","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 in FY2018, we first need to find the average accounts payable for FY2017 and FY2018, the cost of goods sold (COGS) for FY2018, and the change in inventory between FY2017 and FY2018.\n\nFrom the Consolidated Balance Sheets, we can see that the accounts payable for FY2017 was $41,433 million and for FY2018 it was $46,092 million. Therefore, the average accounts payable is ($41,433 + $46,092) \/ 2 = $43,762.5 million.\n\nFrom the Consolidated Statements of Income, we can see that the COGS for FY2018 was $373,396 million.\n\nThe inventory for FY2017 was $43,046 million and for FY2018 it was $43,783 million. Therefore, the change in inventory is $43,783 - $43,046 = $737 million.\n\nNow we can calculate the DPO as follows:\n\nDPO = 365 * (average accounts payable) \/ (COGS + change in inventory)\n= 365 * ($43,762.5) \/ ($373,396 + $737)\n= 365 * $43,762.5 \/ $374,133\n= 42.78 days\n\nTherefore, the Days Payable Outstanding (DPO) for Walmart in FY2018 was approximately 42.78 days.","label":"Incorrect Answer"}