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based on the activity between the company and the 2007 financing entities what was the ratio of the cash payments to the cash receipts in 2013 | Background: ['( c ) the cash payments are interest payments on the associated debt obligations discussed above .', 'after formation of the 2015 financing entities , the payments represent interest paid on nonrecourse financial liabilities of special purpose entities .', 'in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper .', 'the use of the two wholly-owned special purpose entities discussed below preserved the tax deferral that resulted from the 2007 temple-inland timberlands sales .', 'the company recognized an $ 840 million deferred tax liability in connection with the 2007 sales , which will be settled with the maturity of the notes in in october 2007 , temple-inland sold 1.55 million acres of timberland for $ 2.38 billion .', 'the total consideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberland , which temple-inland contributed to two wholly-owned , bankruptcy-remote special purpose entities .', 'the notes are shown in financial assets of special purpose entities in the accompanying consolidated balance sheet and are supported by $ 2.38 billion of irrevocable letters of credit issued by three banks , which are required to maintain minimum credit ratings on their long-term debt .', 'in the third quarter of 2012 , international paper completed its preliminary analysis of the acquisition date fair value of the notes and determined it to be $ 2.09 billion .', 'as of december 31 , 2015 and 2014 , the fair value of the notes was $ 2.10 billion and $ 2.27 billion , respectively .', 'these notes are classified as level 2 within the fair value hierarchy , which is further defined in note 14 .', "in december 2007 , temple-inland's two wholly-owned special purpose entities borrowed $ 2.14 billion shown in nonrecourse financial liabilities of special purpose entities .", 'the loans are repayable in 2027 and are secured only by the $ 2.38 billion of notes and the irrevocable letters of credit securing the notes and are nonrecourse to us .', 'the loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is downgraded below the specified threshold , the letters of credit issued by that bank must be replaced within 30 days with letters of credit from another qualifying financial institution .', 'in the third quarter of 2012 , international paper completed its preliminary analysis of the acquisition date fair value of the borrowings and determined it to be $ 2.03 billion .', 'as of december 31 , 2015 and 2014 , the fair value of this debt was $ 1.97 billion and $ 2.16 billion , respectively .', 'this debt is classified as level 2 within the fair value hierarchy , which is further defined in note 14 .', 'activity between the company and the 2007 financing entities was as follows: .']
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Table:
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in millions 2015 2014 2013
revenue ( a ) $ 27 $ 26 $ 27
expense ( b ) 27 25 29
cash receipts ( c ) 7 7 8
cash payments ( d ) 18 18 21
----------------------------------------
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Follow-up: ['( a ) the revenue is included in interest expense , net in the accompanying consolidated statement of operations and includes approximately $ 19 million , $ 19 million and $ 19 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively , of accretion income for the amortization of the purchase accounting adjustment on the financial assets of special purpose entities .', '( b ) the expense is included in interest expense , net in the accompanying consolidated statement of operations and includes approximately $ 7 million , $ 7 million and $ 7 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively , of accretion expense for the amortization of the purchase accounting adjustment on the nonrecourse financial liabilities of special purpose entities .', '( c ) the cash receipts are interest received on the financial assets of special purpose entities .', '( d ) the cash payments are interest paid on nonrecourse financial liabilities of special purpose entities .', 'note 13 debt and lines of credit in 2015 , international paper issued $ 700 million of 3.80% ( 3.80 % ) senior unsecured notes with a maturity date in 2026 , $ 600 million of 5.00% ( 5.00 % ) senior unsecured notes with a maturity date in 2035 , and $ 700 million of 5.15% ( 5.15 % ) senior unsecured notes with a maturity date in 2046 .', 'the proceeds from this borrowing were used to repay approximately $ 1.0 billion of notes with interest rates ranging from 4.75% ( 4.75 % ) to 9.38% ( 9.38 % ) and original maturities from 2018 to 2022 , along with $ 211 million of cash premiums associated with the debt repayments .', "additionally , the proceeds from this borrowing were used to make a $ 750 million voluntary cash contribution to the company's pension plan .", 'pre-tax early debt retirement costs of $ 207 million related to the debt repayments , including the $ 211 million of cash premiums , are included in restructuring and other charges in the accompanying consolidated statement of operations for the twelve months ended december 31 , 2015 .', 'during the second quarter of 2014 , international paper issued $ 800 million of 3.65% ( 3.65 % ) senior unsecured notes with a maturity date in 2024 and $ 800 million of 4.80% ( 4.80 % ) senior unsecured notes with a maturity date in 2044 .', 'the proceeds from this borrowing were used to repay approximately $ 960 million of notes with interest rates ranging from 7.95% ( 7.95 % ) to 9.38% ( 9.38 % ) and original maturities from 2018 to 2019 .', 'pre-tax early debt retirement costs of $ 262 million related to these debt repayments , including $ 258 million of cash premiums , are included in restructuring and other charges in the accompanying consolidated statement of operations for the twelve months ended december 31 , 2014. .'] | 2.625 | IP/2015/page_83.pdf-1 | ['( c ) the cash payments are interest payments on the associated debt obligations discussed above .', 'after formation of the 2015 financing entities , the payments represent interest paid on nonrecourse financial liabilities of special purpose entities .', 'in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper .', 'the use of the two wholly-owned special purpose entities discussed below preserved the tax deferral that resulted from the 2007 temple-inland timberlands sales .', 'the company recognized an $ 840 million deferred tax liability in connection with the 2007 sales , which will be settled with the maturity of the notes in in october 2007 , temple-inland sold 1.55 million acres of timberland for $ 2.38 billion .', 'the total consideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberland , which temple-inland contributed to two wholly-owned , bankruptcy-remote special purpose entities .', 'the notes are shown in financial assets of special purpose entities in the accompanying consolidated balance sheet and are supported by $ 2.38 billion of irrevocable letters of credit issued by three banks , which are required to maintain minimum credit ratings on their long-term debt .', 'in the third quarter of 2012 , international paper completed its preliminary analysis of the acquisition date fair value of the notes and determined it to be $ 2.09 billion .', 'as of december 31 , 2015 and 2014 , the fair value of the notes was $ 2.10 billion and $ 2.27 billion , respectively .', 'these notes are classified as level 2 within the fair value hierarchy , which is further defined in note 14 .', "in december 2007 , temple-inland's two wholly-owned special purpose entities borrowed $ 2.14 billion shown in nonrecourse financial liabilities of special purpose entities .", 'the loans are repayable in 2027 and are secured only by the $ 2.38 billion of notes and the irrevocable letters of credit securing the notes and are nonrecourse to us .', 'the loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is downgraded below the specified threshold , the letters of credit issued by that bank must be replaced within 30 days with letters of credit from another qualifying financial institution .', 'in the third quarter of 2012 , international paper completed its preliminary analysis of the acquisition date fair value of the borrowings and determined it to be $ 2.03 billion .', 'as of december 31 , 2015 and 2014 , the fair value of this debt was $ 1.97 billion and $ 2.16 billion , respectively .', 'this debt is classified as level 2 within the fair value hierarchy , which is further defined in note 14 .', 'activity between the company and the 2007 financing entities was as follows: .'] | ['( a ) the revenue is included in interest expense , net in the accompanying consolidated statement of operations and includes approximately $ 19 million , $ 19 million and $ 19 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively , of accretion income for the amortization of the purchase accounting adjustment on the financial assets of special purpose entities .', '( b ) the expense is included in interest expense , net in the accompanying consolidated statement of operations and includes approximately $ 7 million , $ 7 million and $ 7 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively , of accretion expense for the amortization of the purchase accounting adjustment on the nonrecourse financial liabilities of special purpose entities .', '( c ) the cash receipts are interest received on the financial assets of special purpose entities .', '( d ) the cash payments are interest paid on nonrecourse financial liabilities of special purpose entities .', 'note 13 debt and lines of credit in 2015 , international paper issued $ 700 million of 3.80% ( 3.80 % ) senior unsecured notes with a maturity date in 2026 , $ 600 million of 5.00% ( 5.00 % ) senior unsecured notes with a maturity date in 2035 , and $ 700 million of 5.15% ( 5.15 % ) senior unsecured notes with a maturity date in 2046 .', 'the proceeds from this borrowing were used to repay approximately $ 1.0 billion of notes with interest rates ranging from 4.75% ( 4.75 % ) to 9.38% ( 9.38 % ) and original maturities from 2018 to 2022 , along with $ 211 million of cash premiums associated with the debt repayments .', "additionally , the proceeds from this borrowing were used to make a $ 750 million voluntary cash contribution to the company's pension plan .", 'pre-tax early debt retirement costs of $ 207 million related to the debt repayments , including the $ 211 million of cash premiums , are included in restructuring and other charges in the accompanying consolidated statement of operations for the twelve months ended december 31 , 2015 .', 'during the second quarter of 2014 , international paper issued $ 800 million of 3.65% ( 3.65 % ) senior unsecured notes with a maturity date in 2024 and $ 800 million of 4.80% ( 4.80 % ) senior unsecured notes with a maturity date in 2044 .', 'the proceeds from this borrowing were used to repay approximately $ 960 million of notes with interest rates ranging from 7.95% ( 7.95 % ) to 9.38% ( 9.38 % ) and original maturities from 2018 to 2019 .', 'pre-tax early debt retirement costs of $ 262 million related to these debt repayments , including $ 258 million of cash premiums , are included in restructuring and other charges in the accompanying consolidated statement of operations for the twelve months ended december 31 , 2014. .'] | ----------------------------------------
in millions 2015 2014 2013
revenue ( a ) $ 27 $ 26 $ 27
expense ( b ) 27 25 29
cash receipts ( c ) 7 7 8
cash payments ( d ) 18 18 21
---------------------------------------- | divide(21, 8) | 2.625 |
as of december 31 , 2012 what was the ratio of the devon debt maturities in 2013 compared to 2014 | Background: ['devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) debt maturities as of december 31 , 2012 , excluding premiums and discounts , are as follows ( in millions ) : .']
##########
Table:
****************************************
2013, $ 3189
2014, 500
2015, 2014
2016, 500
2017, 750
2018 and thereafter, 6725
total, $ 11664
****************************************
##########
Post-table: ['credit lines devon has a $ 3.0 billion syndicated , unsecured revolving line of credit ( the 201csenior credit facility 201d ) .', 'the senior credit facility has an initial maturity date of october 24 , 2017 .', 'however , prior to the maturity date , devon has the option to extend the maturity for up to two additional one-year periods , subject to the approval of the lenders .', 'amounts borrowed under the senior credit facility may , at the election of devon , bear interest at various fixed rate options for periods of up to twelve months .', 'such rates are generally less than the prime rate .', 'however , devon may elect to borrow at the prime rate .', 'the senior credit facility currently provides for an annual facility fee of $ 3.8 million that is payable quarterly in arrears .', 'as of december 31 , 2012 , there were no borrowings under the senior credit facility .', 'the senior credit facility contains only one material financial covenant .', 'this covenant requires devon 2019s ratio of total funded debt to total capitalization , as defined in the credit agreement , to be no greater than 65 percent .', 'the credit agreement contains definitions of total funded debt and total capitalization that include adjustments to the respective amounts reported in the accompanying financial statements .', 'also , total capitalization is adjusted to add back noncash financial write-downs such as full cost ceiling impairments or goodwill impairments .', 'as of december 31 , 2012 , devon was in compliance with this covenant with a debt-to- capitalization ratio of 25.4 percent .', 'commercial paper devon has access to $ 5.0 billion of short-term credit under its commercial paper program .', 'commercial paper debt generally has a maturity of between 1 and 90 days , although it can have a maturity of up to 365 days , and bears interest at rates agreed to at the time of the borrowing .', 'the interest rate is generally based on a standard index such as the federal funds rate , libor , or the money market rate as found in the commercial paper market .', 'as of december 31 , 2012 , devon 2019s weighted average borrowing rate on its commercial paper borrowings was 0.37 percent .', 'other debentures and notes following are descriptions of the various other debentures and notes outstanding at december 31 , 2012 , as listed in the table presented at the beginning of this note. .'] | 6.378 | DVN/2012/page_77.pdf-3 | ['devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) debt maturities as of december 31 , 2012 , excluding premiums and discounts , are as follows ( in millions ) : .'] | ['credit lines devon has a $ 3.0 billion syndicated , unsecured revolving line of credit ( the 201csenior credit facility 201d ) .', 'the senior credit facility has an initial maturity date of october 24 , 2017 .', 'however , prior to the maturity date , devon has the option to extend the maturity for up to two additional one-year periods , subject to the approval of the lenders .', 'amounts borrowed under the senior credit facility may , at the election of devon , bear interest at various fixed rate options for periods of up to twelve months .', 'such rates are generally less than the prime rate .', 'however , devon may elect to borrow at the prime rate .', 'the senior credit facility currently provides for an annual facility fee of $ 3.8 million that is payable quarterly in arrears .', 'as of december 31 , 2012 , there were no borrowings under the senior credit facility .', 'the senior credit facility contains only one material financial covenant .', 'this covenant requires devon 2019s ratio of total funded debt to total capitalization , as defined in the credit agreement , to be no greater than 65 percent .', 'the credit agreement contains definitions of total funded debt and total capitalization that include adjustments to the respective amounts reported in the accompanying financial statements .', 'also , total capitalization is adjusted to add back noncash financial write-downs such as full cost ceiling impairments or goodwill impairments .', 'as of december 31 , 2012 , devon was in compliance with this covenant with a debt-to- capitalization ratio of 25.4 percent .', 'commercial paper devon has access to $ 5.0 billion of short-term credit under its commercial paper program .', 'commercial paper debt generally has a maturity of between 1 and 90 days , although it can have a maturity of up to 365 days , and bears interest at rates agreed to at the time of the borrowing .', 'the interest rate is generally based on a standard index such as the federal funds rate , libor , or the money market rate as found in the commercial paper market .', 'as of december 31 , 2012 , devon 2019s weighted average borrowing rate on its commercial paper borrowings was 0.37 percent .', 'other debentures and notes following are descriptions of the various other debentures and notes outstanding at december 31 , 2012 , as listed in the table presented at the beginning of this note. .'] | ****************************************
2013, $ 3189
2014, 500
2015, 2014
2016, 500
2017, 750
2018 and thereafter, 6725
total, $ 11664
**************************************** | divide(3189, 500) | 6.378 |
what is the total amount of cash used for stock repurchase during december 2005 , in millions? | Background: ['discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014 factors affecting sources of liquidity . 201d recent sales of unregistered securities during the year ended december 31 , 2005 , we issued an aggregate of 4670335 shares of our class a common stock upon conversion of $ 57.1 million principal amount of our 3.25% ( 3.25 % ) notes .', 'pursuant to the terms of the indenture , the holders of the 3.25% ( 3.25 % ) notes received 81.808 shares of class a common stock for every $ 1000 principal amount of notes converted .', 'the shares were issued to the noteholders in reliance on the exemption from registration set forth in section 3 ( a ) ( 9 ) of the securities act of 1933 , as amended .', 'no underwriters were engaged in connection with such issuances .', 'in connection with the conversion , we paid such holders an aggregate of $ 4.9 million , calculated based on the accrued and unpaid interest on the notes and the discounted value of the future interest payments on the notes .', 'subsequent to december 31 , 2005 , we issued shares of class a common stock upon conversions of additional 3.25% ( 3.25 % ) notes , as set forth in item 9b of this annual report under the caption 201cother information . 201d during the year ended december 31 , 2005 , we issued an aggregate of 398412 shares of our class a common stock upon exercises of 55729 warrants assumed in our merger with spectrasite , inc .', 'in august 2005 , in connection with our merger with spectrasite , inc. , we assumed approximately 1.0 million warrants to purchase shares of spectrasite , inc .', 'common stock .', 'upon completion of the merger , each warrant to purchase shares of spectrasite , inc .', 'common stock automatically converted into a warrant to purchase 7.15 shares of class a common stock at an exercise price of $ 32 per warrant .', 'net proceeds from these warrant exercises were approximately $ 1.8 million .', 'the shares of class a common stock issued to the warrantholders upon exercise of the warrants were issued in reliance on the exemption from registration set forth in section 3 ( a ) ( 9 ) of the securities act of 1933 , as amended .', 'no underwriters were engaged in connection with such issuances .', 'subsequent to december 31 , 2005 , we issued shares of class a common stock upon exercises of additional warrants , as set forth in item 9b of this annual report under the caption 201cother information . 201d issuer purchases of equity securities in november 2005 , we announced that our board of directors had approved a stock repurchase program pursuant to which we intend to repurchase up to $ 750.0 million of our class a common stock through december 2006 .', 'during the fourth quarter of 2005 , we repurchased 2836519 shares of our class a common stock for an aggregate of $ 76.6 million pursuant to our stock repurchase program , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs ( 1 ) approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .']
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Data Table:
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• period, total number of shares purchased ( 1 ), average price paid per share, total number of shares purchased as part of publicly announced plans or programs ( 1 ), approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions )
• 11/17/05 2013 11/30/05, 874306, $ 26.25, 874306, $ 727.0
• 12/1/05 2013 12/31/05, 1962213, $ 27.29, 1962213, $ 673.4
• total fourth quarter, 2836519, $ 26.97, 2836519, $ 673.4
----------------------------------------
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Additional Information: ['( 1 ) all issuer repurchases were made pursuant to the stock repurchase program publicly announced in november 2005 .', 'pursuant to the program , we intend to repurchase up to $ 750.0 million of our class a common stock during the period november 2005 through december 2006 .', 'under the program , our management is authorized to purchase shares from time to time in open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors .', 'to facilitate repurchases , we entered into a trading plan under rule 10b5-1 of the securities exchange act of 1934 , which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self- imposed trading blackout periods .', 'the program may be discontinued at any time .', 'since december 31 , 2005 , we have continued to repurchase shares of our class a common stock pursuant to our stock repurchase program .', 'between january 1 , 2006 and march 9 , 2006 , we repurchased 3.9 million shares of class a common stock for an aggregate of $ 117.4 million pursuant to the stock repurchase program. .'] | 53.54879 | AMT/2005/page_32.pdf-3 | ['discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014 factors affecting sources of liquidity . 201d recent sales of unregistered securities during the year ended december 31 , 2005 , we issued an aggregate of 4670335 shares of our class a common stock upon conversion of $ 57.1 million principal amount of our 3.25% ( 3.25 % ) notes .', 'pursuant to the terms of the indenture , the holders of the 3.25% ( 3.25 % ) notes received 81.808 shares of class a common stock for every $ 1000 principal amount of notes converted .', 'the shares were issued to the noteholders in reliance on the exemption from registration set forth in section 3 ( a ) ( 9 ) of the securities act of 1933 , as amended .', 'no underwriters were engaged in connection with such issuances .', 'in connection with the conversion , we paid such holders an aggregate of $ 4.9 million , calculated based on the accrued and unpaid interest on the notes and the discounted value of the future interest payments on the notes .', 'subsequent to december 31 , 2005 , we issued shares of class a common stock upon conversions of additional 3.25% ( 3.25 % ) notes , as set forth in item 9b of this annual report under the caption 201cother information . 201d during the year ended december 31 , 2005 , we issued an aggregate of 398412 shares of our class a common stock upon exercises of 55729 warrants assumed in our merger with spectrasite , inc .', 'in august 2005 , in connection with our merger with spectrasite , inc. , we assumed approximately 1.0 million warrants to purchase shares of spectrasite , inc .', 'common stock .', 'upon completion of the merger , each warrant to purchase shares of spectrasite , inc .', 'common stock automatically converted into a warrant to purchase 7.15 shares of class a common stock at an exercise price of $ 32 per warrant .', 'net proceeds from these warrant exercises were approximately $ 1.8 million .', 'the shares of class a common stock issued to the warrantholders upon exercise of the warrants were issued in reliance on the exemption from registration set forth in section 3 ( a ) ( 9 ) of the securities act of 1933 , as amended .', 'no underwriters were engaged in connection with such issuances .', 'subsequent to december 31 , 2005 , we issued shares of class a common stock upon exercises of additional warrants , as set forth in item 9b of this annual report under the caption 201cother information . 201d issuer purchases of equity securities in november 2005 , we announced that our board of directors had approved a stock repurchase program pursuant to which we intend to repurchase up to $ 750.0 million of our class a common stock through december 2006 .', 'during the fourth quarter of 2005 , we repurchased 2836519 shares of our class a common stock for an aggregate of $ 76.6 million pursuant to our stock repurchase program , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs ( 1 ) approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .'] | ['( 1 ) all issuer repurchases were made pursuant to the stock repurchase program publicly announced in november 2005 .', 'pursuant to the program , we intend to repurchase up to $ 750.0 million of our class a common stock during the period november 2005 through december 2006 .', 'under the program , our management is authorized to purchase shares from time to time in open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors .', 'to facilitate repurchases , we entered into a trading plan under rule 10b5-1 of the securities exchange act of 1934 , which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self- imposed trading blackout periods .', 'the program may be discontinued at any time .', 'since december 31 , 2005 , we have continued to repurchase shares of our class a common stock pursuant to our stock repurchase program .', 'between january 1 , 2006 and march 9 , 2006 , we repurchased 3.9 million shares of class a common stock for an aggregate of $ 117.4 million pursuant to the stock repurchase program. .'] | ----------------------------------------
• period, total number of shares purchased ( 1 ), average price paid per share, total number of shares purchased as part of publicly announced plans or programs ( 1 ), approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions )
• 11/17/05 2013 11/30/05, 874306, $ 26.25, 874306, $ 727.0
• 12/1/05 2013 12/31/05, 1962213, $ 27.29, 1962213, $ 673.4
• total fourth quarter, 2836519, $ 26.97, 2836519, $ 673.4
---------------------------------------- | multiply(1962213, 27.29), divide(#0, const_1000000) | 53.54879 |
what percentage of total future minimum sponsorship and other payments are scheduled for 2018? | Context: ['2016 , as well as significant sponsorship and other marketing agreements entered into during the period after december 31 , 2016 through the date of this report : ( in thousands ) .']
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Tabular Data:
Row 1: 2017, $ 176138
Row 2: 2018, 166961
Row 3: 2019, 142987
Row 4: 2020, 124856
Row 5: 2021, 118168
Row 6: 2022 and thereafter, 626495
Row 7: total future minimum sponsorship and other payments, $ 1355605
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Post-table: ['total future minimum sponsorship and other payments $ 1355605 the amounts listed above are the minimum compensation obligations and guaranteed royalty fees required to be paid under the company 2019s sponsorship and other marketing agreements .', 'the amounts listed above do not include additional performance incentives and product supply obligations provided under certain agreements .', 'it is not possible to determine how much the company will spend on product supply obligations on an annual basis as contracts generally do not stipulate specific cash amounts to be spent on products .', 'the amount of product provided to the sponsorships depends on many factors including general playing conditions , the number of sporting events in which they participate and the company 2019s decisions regarding product and marketing initiatives .', 'in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers .', 'in connection with various contracts and agreements , the company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items .', 'generally , such indemnification obligations do not apply in situations in which the counterparties are grossly negligent , engage in willful misconduct , or act in bad faith .', 'based on the company 2019s historical experience and the estimated probability of future loss , the company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations .', 'from time to time , the company is involved in litigation and other proceedings , including matters related to commercial and intellectual property disputes , as well as trade , regulatory and other claims related to its business .', 'other than as described below , the company believes that all current proceedings are routine in nature and incidental to the conduct of its business , and that the ultimate resolution of any such proceedings will not have a material adverse effect on its consolidated financial position , results of operations or cash flows .', 'on february 10 , 2017 , a shareholder filed a securities case in the united states district court for the district of maryland ( the 201ccourt 201d ) against the company , the company 2019s chief executive officer and the company 2019s former chief financial officer ( brian breece v .', 'under armour , inc. ) .', 'on february 16 , 2017 , a second shareholder filed a securities case in the court against the same defendants ( jodie hopkins v .', 'under armour , inc. ) .', 'the plaintiff in each case purports to represent a class of shareholders for the period between april 21 , 2016 and january 30 , 2017 , inclusive .', 'the complaints allege violations of section 10 ( b ) ( and rule 10b-5 ) of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) and section 20 ( a ) control person liability under the exchange act against the officers named in the complaints .', 'in general , the allegations in each case concern disclosures and statements made by .'] | 0.12316 | UAA/2016/page_83.pdf-3 | ['2016 , as well as significant sponsorship and other marketing agreements entered into during the period after december 31 , 2016 through the date of this report : ( in thousands ) .'] | ['total future minimum sponsorship and other payments $ 1355605 the amounts listed above are the minimum compensation obligations and guaranteed royalty fees required to be paid under the company 2019s sponsorship and other marketing agreements .', 'the amounts listed above do not include additional performance incentives and product supply obligations provided under certain agreements .', 'it is not possible to determine how much the company will spend on product supply obligations on an annual basis as contracts generally do not stipulate specific cash amounts to be spent on products .', 'the amount of product provided to the sponsorships depends on many factors including general playing conditions , the number of sporting events in which they participate and the company 2019s decisions regarding product and marketing initiatives .', 'in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers .', 'in connection with various contracts and agreements , the company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items .', 'generally , such indemnification obligations do not apply in situations in which the counterparties are grossly negligent , engage in willful misconduct , or act in bad faith .', 'based on the company 2019s historical experience and the estimated probability of future loss , the company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations .', 'from time to time , the company is involved in litigation and other proceedings , including matters related to commercial and intellectual property disputes , as well as trade , regulatory and other claims related to its business .', 'other than as described below , the company believes that all current proceedings are routine in nature and incidental to the conduct of its business , and that the ultimate resolution of any such proceedings will not have a material adverse effect on its consolidated financial position , results of operations or cash flows .', 'on february 10 , 2017 , a shareholder filed a securities case in the united states district court for the district of maryland ( the 201ccourt 201d ) against the company , the company 2019s chief executive officer and the company 2019s former chief financial officer ( brian breece v .', 'under armour , inc. ) .', 'on february 16 , 2017 , a second shareholder filed a securities case in the court against the same defendants ( jodie hopkins v .', 'under armour , inc. ) .', 'the plaintiff in each case purports to represent a class of shareholders for the period between april 21 , 2016 and january 30 , 2017 , inclusive .', 'the complaints allege violations of section 10 ( b ) ( and rule 10b-5 ) of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) and section 20 ( a ) control person liability under the exchange act against the officers named in the complaints .', 'in general , the allegations in each case concern disclosures and statements made by .'] | Row 1: 2017, $ 176138
Row 2: 2018, 166961
Row 3: 2019, 142987
Row 4: 2020, 124856
Row 5: 2021, 118168
Row 6: 2022 and thereafter, 626495
Row 7: total future minimum sponsorship and other payments, $ 1355605 | divide(166961, 1355605) | 0.12316 |
what was the percentage decrease of state and local income taxes after federal income tax effects from 2002 to 2003? | Context: ['expenditures and acquisitions of leased properties are funded by the original contributor of the assets , but no change in ownership interest may result from these contributions .', 'an excess of ashland funded improvements over marathon funded improvements results in a net gain and an excess of marathon funded improvements over ashland funded improvements results in a net loss .', 'cost of revenues increased by $ 8.718 billion in 2003 from 2002 and $ 367 million in 2002 from 2001 .', 'the increases in the oerb segment were primarily a result of higher natural gas and liquid hydrocarbon costs .', 'the increases in the rm&t segment primarily reflected higher acquisition costs for crude oil , refined products , refinery charge and blend feedstocks and increased manufacturing expenses .', 'selling , general and administrative expenses increased by $ 107 million in 2003 from 2002 and $ 125 million in 2002 from 2001 .', 'the increase in 2003 was primarily a result of increased employee benefits ( caused by increased pension expense resulting from changes in actuarial assumptions and a decrease in realized returns on plan assets ) and other employee related costs .', 'also , marathon changed assumptions in the health care cost trend rate from 7.5% ( 7.5 % ) to 10% ( 10 % ) , resulting in higher retiree health care costs .', 'additionally , during 2003 , marathon recorded a charge of $ 24 million related to organizational and business process changes .', 'the increase in 2002 primarily reflected increased employee related costs .', 'inventory market valuation reserve is established to reduce the cost basis of inventories to current market value .', 'the 2002 results of operations include credits to income from operations of $ 71 million , reversing the imv reserve at december 31 , 2001 .', 'for additional information on this adjustment , see 201cmanagement 2019s discussion and analysis of critical accounting estimates 2013 net realizable value of inventories 201d on page 31 .', 'net interest and other financial costs decreased by $ 82 million in 2003 from 2002 , following an increase of $ 96 million in 2002 from 2001 .', 'the decrease in 2003 is primarily due to an increase in capitalized interest related to increased long-term construction projects , the favorable effect of interest rate swaps , the favorable effect of interest on tax deficiencies and increased interest income on investments .', 'the increase in 2002 was primarily due to higher average debt levels resulting from acquisitions and the separation .', 'additionally , included in net interest and other financing costs are foreign currency gains of $ 13 million and $ 8 million for 2003 and 2002 and losses of $ 5 million for 2001 .', 'loss from early extinguishment of debt in 2002 was attributable to the retirement of $ 337 million aggregate principal amount of debt , resulting in a loss of $ 53 million .', 'as a result of the adoption of statement of financial accounting standards no .', '145 201crescission of fasb statements no .', '4 , 44 , and 64 , amendment of fasb statement no .', '13 , and technical corrections 201d ( 201csfas no .', '145 201d ) , the loss from early extinguishment of debt that was previously reported as an extraordinary item ( net of taxes of $ 20 million ) has been reclassified into income before income taxes .', 'the adoption of sfas no .', '145 had no impact on net income for 2002 .', 'minority interest in income of map , which represents ashland 2019s 38 percent ownership interest , increased by $ 129 million in 2003 from 2002 , following a decrease of $ 531 million in 2002 from 2001 .', 'map income was higher in 2003 compared to 2002 as discussed below in the rm&t segment .', 'map income was significantly lower in 2002 compared to 2001 as discussed below in the rm&t segment .', 'provision for income taxes increased by $ 215 million in 2003 from 2002 , following a decrease of $ 458 million in 2002 from 2001 , primarily due to $ 720 million increase and $ 1.356 billion decrease in income before income taxes .', 'the effective tax rate for 2003 was 36.6% ( 36.6 % ) compared to 42.1% ( 42.1 % ) and 37.1% ( 37.1 % ) for 2002 and 2001 .', 'the higher rate in 2002 was due to the united kingdom enactment of a supplementary 10 percent tax on profits from the north sea oil and gas production , retroactively effective to april 17 , 2002 .', 'in 2002 , marathon recognized a one-time noncash deferred tax adjustment of $ 61 million as a result of the rate increase .', 'the following is an analysis of the effective tax rate for the periods presented: .']
------
Data Table:
****************************************
, 2003, 2002, 2001
statutory tax rate, 35.0% ( 35.0 % ), 35.0% ( 35.0 % ), 35.0% ( 35.0 % )
effects of foreign operations ( a ), -0.4 ( 0.4 ), 5.6, -0.7 ( 0.7 )
state and local income taxes after federal income tax effects, 2.2, 3.9, 3.0
other federal tax effects, -0.2 ( 0.2 ), -2.4 ( 2.4 ), -0.2 ( 0.2 )
effective tax rate, 36.6% ( 36.6 % ), 42.1% ( 42.1 % ), 37.1% ( 37.1 % )
****************************************
------
Post-table: ['( a ) the deferred tax effect related to the enactment of a supplemental tax in the u.k .', 'increased the effective tax rate 7.0 percent in 2002. .'] | -0.4359 | MRO/2003/page_65.pdf-4 | ['expenditures and acquisitions of leased properties are funded by the original contributor of the assets , but no change in ownership interest may result from these contributions .', 'an excess of ashland funded improvements over marathon funded improvements results in a net gain and an excess of marathon funded improvements over ashland funded improvements results in a net loss .', 'cost of revenues increased by $ 8.718 billion in 2003 from 2002 and $ 367 million in 2002 from 2001 .', 'the increases in the oerb segment were primarily a result of higher natural gas and liquid hydrocarbon costs .', 'the increases in the rm&t segment primarily reflected higher acquisition costs for crude oil , refined products , refinery charge and blend feedstocks and increased manufacturing expenses .', 'selling , general and administrative expenses increased by $ 107 million in 2003 from 2002 and $ 125 million in 2002 from 2001 .', 'the increase in 2003 was primarily a result of increased employee benefits ( caused by increased pension expense resulting from changes in actuarial assumptions and a decrease in realized returns on plan assets ) and other employee related costs .', 'also , marathon changed assumptions in the health care cost trend rate from 7.5% ( 7.5 % ) to 10% ( 10 % ) , resulting in higher retiree health care costs .', 'additionally , during 2003 , marathon recorded a charge of $ 24 million related to organizational and business process changes .', 'the increase in 2002 primarily reflected increased employee related costs .', 'inventory market valuation reserve is established to reduce the cost basis of inventories to current market value .', 'the 2002 results of operations include credits to income from operations of $ 71 million , reversing the imv reserve at december 31 , 2001 .', 'for additional information on this adjustment , see 201cmanagement 2019s discussion and analysis of critical accounting estimates 2013 net realizable value of inventories 201d on page 31 .', 'net interest and other financial costs decreased by $ 82 million in 2003 from 2002 , following an increase of $ 96 million in 2002 from 2001 .', 'the decrease in 2003 is primarily due to an increase in capitalized interest related to increased long-term construction projects , the favorable effect of interest rate swaps , the favorable effect of interest on tax deficiencies and increased interest income on investments .', 'the increase in 2002 was primarily due to higher average debt levels resulting from acquisitions and the separation .', 'additionally , included in net interest and other financing costs are foreign currency gains of $ 13 million and $ 8 million for 2003 and 2002 and losses of $ 5 million for 2001 .', 'loss from early extinguishment of debt in 2002 was attributable to the retirement of $ 337 million aggregate principal amount of debt , resulting in a loss of $ 53 million .', 'as a result of the adoption of statement of financial accounting standards no .', '145 201crescission of fasb statements no .', '4 , 44 , and 64 , amendment of fasb statement no .', '13 , and technical corrections 201d ( 201csfas no .', '145 201d ) , the loss from early extinguishment of debt that was previously reported as an extraordinary item ( net of taxes of $ 20 million ) has been reclassified into income before income taxes .', 'the adoption of sfas no .', '145 had no impact on net income for 2002 .', 'minority interest in income of map , which represents ashland 2019s 38 percent ownership interest , increased by $ 129 million in 2003 from 2002 , following a decrease of $ 531 million in 2002 from 2001 .', 'map income was higher in 2003 compared to 2002 as discussed below in the rm&t segment .', 'map income was significantly lower in 2002 compared to 2001 as discussed below in the rm&t segment .', 'provision for income taxes increased by $ 215 million in 2003 from 2002 , following a decrease of $ 458 million in 2002 from 2001 , primarily due to $ 720 million increase and $ 1.356 billion decrease in income before income taxes .', 'the effective tax rate for 2003 was 36.6% ( 36.6 % ) compared to 42.1% ( 42.1 % ) and 37.1% ( 37.1 % ) for 2002 and 2001 .', 'the higher rate in 2002 was due to the united kingdom enactment of a supplementary 10 percent tax on profits from the north sea oil and gas production , retroactively effective to april 17 , 2002 .', 'in 2002 , marathon recognized a one-time noncash deferred tax adjustment of $ 61 million as a result of the rate increase .', 'the following is an analysis of the effective tax rate for the periods presented: .'] | ['( a ) the deferred tax effect related to the enactment of a supplemental tax in the u.k .', 'increased the effective tax rate 7.0 percent in 2002. .'] | ****************************************
, 2003, 2002, 2001
statutory tax rate, 35.0% ( 35.0 % ), 35.0% ( 35.0 % ), 35.0% ( 35.0 % )
effects of foreign operations ( a ), -0.4 ( 0.4 ), 5.6, -0.7 ( 0.7 )
state and local income taxes after federal income tax effects, 2.2, 3.9, 3.0
other federal tax effects, -0.2 ( 0.2 ), -2.4 ( 2.4 ), -0.2 ( 0.2 )
effective tax rate, 36.6% ( 36.6 % ), 42.1% ( 42.1 % ), 37.1% ( 37.1 % )
**************************************** | subtract(2.2, 3.9), divide(#0, 3.9) | -0.4359 |
what would be the total amount of long-term debt if they were to include fair value of debt step-up? | Context: ['contractual obligations we summarize our enforceable and legally binding contractual obligations at september 30 , 2018 , and the effect these obligations are expected to have on our liquidity and cash flow in future periods in the following table .', 'certain amounts in this table are based on management fffds estimates and assumptions about these obligations , including their duration , the possibility of renewal , anticipated actions by third parties and other factors , including estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans .', 'because these estimates and assumptions are subjective , the enforceable and legally binding obligations we actually pay in future periods may vary from those presented in the table. .']
----
Table:
========================================
Row 1: ( in millions ), payments due by period total, payments due by period fiscal 2019, payments due by period fiscal 2020and 2021, payments due by period fiscal 2022and 2023, payments due by period thereafter
Row 2: long-term debt including current portionexcluding capital lease obligations ( 1 ), $ 6039.0, $ 726.6, $ 824.8, $ 1351.0, $ 3136.6
Row 3: operating lease obligations ( 2 ), 615.8, 132.1, 199.9, 118.4, 165.4
Row 4: capital lease obligations ( 3 ), 152.5, 5.0, 6.7, 2.7, 138.1
Row 5: purchase obligations and other ( 4 ) ( 5 ) ( 6 ), 2210.5, 1676.6, 224.1, 114.9, 194.9
Row 6: total, $ 9017.8, $ 2540.3, $ 1255.5, $ 1587.0, $ 3635.0
========================================
----
Follow-up: ['( 1 ) includes only principal payments owed on our debt assuming that all of our long-term debt will be held to maturity , excluding scheduled payments .', 'we have excluded $ 205.2 million of fair value of debt step-up , deferred financing costs and unamortized bond discounts from the table to arrive at actual debt obligations .', 'see fffdnote 13 .', 'debt fffd fffd of the notes to consolidated financial statements for information on the interest rates that apply to our various debt instruments .', '( 2 ) see fffdnote 14 .', 'operating leases fffd of the notes to consolidated financial statements for additional information .', '( 3 ) the fair value step-up of $ 18.5 million is excluded .', 'see fffdnote 13 .', 'debt fffd fffd capital lease and other indebtednesstt fffd of the notes to consolidated financial statements for additional information .', '( 4 ) purchase obligations include agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum or variable price provision ; and the approximate timing of the transaction .', 'purchase obligations exclude agreements that are cancelable without penalty .', '( 5 ) we have included in the table future estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans .', 'our estimates are based on factors , such as discount rates and expected returns on plan assets .', 'future contributions are subject to changes in our underfunded status based on factors such as investment performance , discount rates , returns on plan assets and changes in legislation .', 'it is possible that our assumptions may change , actual market performance may vary or we may decide to contribute different amounts .', 'we have excluded $ 247.8 million of multiemployer pension plan withdrawal liabilities recorded as of september 30 , 2018 due to lack of definite payout terms for certain of the obligations .', 'see fffdnote 4 .', 'retirement plans fffd multiemployer plans fffd of the notes to consolidated financial statements for additional information .', '( 6 ) we have not included the following items in the table : fffd an item labeled fffdother long-term liabilities fffd reflected on our consolidated balance sheet because these liabilities do not have a definite pay-out scheme .', 'fffd $ 158.4 million from the line item fffdpurchase obligations and other fffd for certain provisions of the financial accounting standards board fffds ( fffdfasb fffd ) accounting standards codification ( fffdasc fffd ) 740 , fffdincome taxes fffd associated with liabilities for uncertain tax positions due to the uncertainty as to the amount and timing of payment , if any .', 'in addition to the enforceable and legally binding obligations presented in the table above , we have other obligations for goods and services and raw materials entered into in the normal course of business .', 'these contracts , however , are subject to change based on our business decisions .', 'expenditures for environmental compliance see item 1 .', 'fffdbusiness fffd fffd governmental regulation fffd environmental and other matters fffd , fffdbusiness fffd fffd governmental regulation fffd cercla and other remediation costs fffd , and fffd fffdbusiness fffd fffd governmental regulation fffd climate change fffd for a discussion of our expenditures for environmental compliance. .'] | 12283.2 | WRK/2018/page_56.pdf-4 | ['contractual obligations we summarize our enforceable and legally binding contractual obligations at september 30 , 2018 , and the effect these obligations are expected to have on our liquidity and cash flow in future periods in the following table .', 'certain amounts in this table are based on management fffds estimates and assumptions about these obligations , including their duration , the possibility of renewal , anticipated actions by third parties and other factors , including estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans .', 'because these estimates and assumptions are subjective , the enforceable and legally binding obligations we actually pay in future periods may vary from those presented in the table. .'] | ['( 1 ) includes only principal payments owed on our debt assuming that all of our long-term debt will be held to maturity , excluding scheduled payments .', 'we have excluded $ 205.2 million of fair value of debt step-up , deferred financing costs and unamortized bond discounts from the table to arrive at actual debt obligations .', 'see fffdnote 13 .', 'debt fffd fffd of the notes to consolidated financial statements for information on the interest rates that apply to our various debt instruments .', '( 2 ) see fffdnote 14 .', 'operating leases fffd of the notes to consolidated financial statements for additional information .', '( 3 ) the fair value step-up of $ 18.5 million is excluded .', 'see fffdnote 13 .', 'debt fffd fffd capital lease and other indebtednesstt fffd of the notes to consolidated financial statements for additional information .', '( 4 ) purchase obligations include agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum or variable price provision ; and the approximate timing of the transaction .', 'purchase obligations exclude agreements that are cancelable without penalty .', '( 5 ) we have included in the table future estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans .', 'our estimates are based on factors , such as discount rates and expected returns on plan assets .', 'future contributions are subject to changes in our underfunded status based on factors such as investment performance , discount rates , returns on plan assets and changes in legislation .', 'it is possible that our assumptions may change , actual market performance may vary or we may decide to contribute different amounts .', 'we have excluded $ 247.8 million of multiemployer pension plan withdrawal liabilities recorded as of september 30 , 2018 due to lack of definite payout terms for certain of the obligations .', 'see fffdnote 4 .', 'retirement plans fffd multiemployer plans fffd of the notes to consolidated financial statements for additional information .', '( 6 ) we have not included the following items in the table : fffd an item labeled fffdother long-term liabilities fffd reflected on our consolidated balance sheet because these liabilities do not have a definite pay-out scheme .', 'fffd $ 158.4 million from the line item fffdpurchase obligations and other fffd for certain provisions of the financial accounting standards board fffds ( fffdfasb fffd ) accounting standards codification ( fffdasc fffd ) 740 , fffdincome taxes fffd associated with liabilities for uncertain tax positions due to the uncertainty as to the amount and timing of payment , if any .', 'in addition to the enforceable and legally binding obligations presented in the table above , we have other obligations for goods and services and raw materials entered into in the normal course of business .', 'these contracts , however , are subject to change based on our business decisions .', 'expenditures for environmental compliance see item 1 .', 'fffdbusiness fffd fffd governmental regulation fffd environmental and other matters fffd , fffdbusiness fffd fffd governmental regulation fffd cercla and other remediation costs fffd , and fffd fffdbusiness fffd fffd governmental regulation fffd climate change fffd for a discussion of our expenditures for environmental compliance. .'] | ========================================
Row 1: ( in millions ), payments due by period total, payments due by period fiscal 2019, payments due by period fiscal 2020and 2021, payments due by period fiscal 2022and 2023, payments due by period thereafter
Row 2: long-term debt including current portionexcluding capital lease obligations ( 1 ), $ 6039.0, $ 726.6, $ 824.8, $ 1351.0, $ 3136.6
Row 3: operating lease obligations ( 2 ), 615.8, 132.1, 199.9, 118.4, 165.4
Row 4: capital lease obligations ( 3 ), 152.5, 5.0, 6.7, 2.7, 138.1
Row 5: purchase obligations and other ( 4 ) ( 5 ) ( 6 ), 2210.5, 1676.6, 224.1, 114.9, 194.9
Row 6: total, $ 9017.8, $ 2540.3, $ 1255.5, $ 1587.0, $ 3635.0
======================================== | add(3136.6, 1351.0), add(824.8, 726.6), add(6039.0, 205.2), add(#2, #0), add(#1, #3) | 12283.2 |
what is the rate of return of an investment in teleflex incorporated from 2010 to 2011? | Pre-text: ['stock performance graph the following graph provides a comparison of five year cumulative total stockholder returns of teleflex common stock , the standard & poor 2019s ( s&p ) 500 stock index and the s&p 500 healthcare equipment & supply index .', 'the annual changes for the five-year period shown on the graph are based on the assumption that $ 100 had been invested in teleflex common stock and each index on december 31 , 2009 and that all dividends were reinvested .', 'market performance .']
##########
Table:
========================================
company / index | 2009 | 2010 | 2011 | 2012 | 2013 | 2014
teleflex incorporated | 100 | 102 | 119 | 142 | 190 | 235
s&p 500 index | 100 | 115 | 117 | 136 | 180 | 205
s&p 500 healthcare equipment & supply index | 100 | 97 | 97 | 113 | 144 | 182
========================================
##########
Follow-up: ['s&p 500 healthcare equipment & supply index 100 97 97 113 144 182 .'] | 0.16667 | TFX/2014/page_44.pdf-2 | ['stock performance graph the following graph provides a comparison of five year cumulative total stockholder returns of teleflex common stock , the standard & poor 2019s ( s&p ) 500 stock index and the s&p 500 healthcare equipment & supply index .', 'the annual changes for the five-year period shown on the graph are based on the assumption that $ 100 had been invested in teleflex common stock and each index on december 31 , 2009 and that all dividends were reinvested .', 'market performance .'] | ['s&p 500 healthcare equipment & supply index 100 97 97 113 144 182 .'] | ========================================
company / index | 2009 | 2010 | 2011 | 2012 | 2013 | 2014
teleflex incorporated | 100 | 102 | 119 | 142 | 190 | 235
s&p 500 index | 100 | 115 | 117 | 136 | 180 | 205
s&p 500 healthcare equipment & supply index | 100 | 97 | 97 | 113 | 144 | 182
======================================== | subtract(119, 102), divide(#0, 102) | 0.16667 |
what was the percentage total return for delphi automotive plc for the five years ended december 31 2014?\\n | Context: ['stock performance graph * $ 100 invested on 11/17/11 in our stock or 10/31/11 in the relevant index , including reinvestment of dividends .', 'fiscal year ending december 31 , 2014 .', '( 1 ) delphi automotive plc ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive supplier peer group 2013 russell 3000 auto parts index , including american axle & manufacturing , borgwarner inc. , cooper tire & rubber company , dana holding corp. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , fuel systems solutions inc. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , johnson controls inc. , lkq corp. , lear corp. , meritor inc. , remy international inc. , standard motor products inc. , stoneridge inc. , superior industries international , trw automotive holdings corp. , tenneco inc. , tesla motors inc. , the goodyear tire & rubber co. , tower international inc. , visteon corp. , and wabco holdings inc .', 'company index november 17 , december 31 , december 31 , december 31 , december 31 .']
Table:
========================================
• company index, november 17 2011, december 31 2011, december 31 2012, december 31 2013, december 31 2014
• delphi automotive plc ( 1 ), $ 100.00, $ 100.98, $ 179.33, $ 285.81, $ 350.82
• s&p 500 ( 2 ), 100.00, 100.80, 116.93, 154.80, 175.99
• automotive supplier peer group ( 3 ), 100.00, 89.27, 110.41, 166.46, 178.05
========================================
Additional Information: ["dividends on february 26 , 2013 , the board of directors approved the initiation of dividend payments on the company's ordinary shares .", 'the board of directors declared a regular quarterly cash dividend of $ 0.17 per ordinary share that was paid in each quarter of 2013 .', 'in january 2014 , the board of directors increased the quarterly dividend rate to $ 0.25 per ordinary share , which was paid in each quarter of 2014 .', 'in addition , in january 2015 , the board of directors declared a regular quarterly cash dividend of $ 0.25 per ordinary share , payable on february 27 , 2015 to shareholders of record at the close of business on february 18 , 2015. .'] | 2.5082 | APTV/2014/page_49.pdf-2 | ['stock performance graph * $ 100 invested on 11/17/11 in our stock or 10/31/11 in the relevant index , including reinvestment of dividends .', 'fiscal year ending december 31 , 2014 .', '( 1 ) delphi automotive plc ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive supplier peer group 2013 russell 3000 auto parts index , including american axle & manufacturing , borgwarner inc. , cooper tire & rubber company , dana holding corp. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , fuel systems solutions inc. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , johnson controls inc. , lkq corp. , lear corp. , meritor inc. , remy international inc. , standard motor products inc. , stoneridge inc. , superior industries international , trw automotive holdings corp. , tenneco inc. , tesla motors inc. , the goodyear tire & rubber co. , tower international inc. , visteon corp. , and wabco holdings inc .', 'company index november 17 , december 31 , december 31 , december 31 , december 31 .'] | ["dividends on february 26 , 2013 , the board of directors approved the initiation of dividend payments on the company's ordinary shares .", 'the board of directors declared a regular quarterly cash dividend of $ 0.17 per ordinary share that was paid in each quarter of 2013 .', 'in january 2014 , the board of directors increased the quarterly dividend rate to $ 0.25 per ordinary share , which was paid in each quarter of 2014 .', 'in addition , in january 2015 , the board of directors declared a regular quarterly cash dividend of $ 0.25 per ordinary share , payable on february 27 , 2015 to shareholders of record at the close of business on february 18 , 2015. .'] | ========================================
• company index, november 17 2011, december 31 2011, december 31 2012, december 31 2013, december 31 2014
• delphi automotive plc ( 1 ), $ 100.00, $ 100.98, $ 179.33, $ 285.81, $ 350.82
• s&p 500 ( 2 ), 100.00, 100.80, 116.93, 154.80, 175.99
• automotive supplier peer group ( 3 ), 100.00, 89.27, 110.41, 166.46, 178.05
======================================== | subtract(350.82, const_100), divide(#0, const_100) | 2.5082 |
in 2008 what was the ratio of the trading assets derivatives - receivables to the payables | Pre-text: ['jpmorgan chase & co./2009 annual report 173 trading assets and liabilities average balances average trading assets and liabilities were as follows for the periods indicated. .']
------
Tabular Data:
----------------------------------------
Row 1: year ended december 31 ( in millions ), 2009, 2008, 2007
Row 2: trading assets 2013 debt and equity instruments, $ 318063, $ 384102, $ 381415
Row 3: trading assets 2013 derivative receivables, 110457, 121417, 65439
Row 4: trading liabilities 2013 debt and equityinstruments ( a ), $ 60224, $ 78841, $ 94737
Row 5: trading liabilities 2013 derivative payables, 77901, 93200, 65198
----------------------------------------
------
Additional Information: ['( a ) primarily represent securities sold , not yet purchased .', 'note 4 2013 fair value option the fair value option provides an option to elect fair value as an alternative measurement for selected financial assets , financial liabilities , unrecognized firm commitments , and written loan com- mitments not previously carried at fair value .', 'elections elections were made by the firm to : 2022 mitigate income statement volatility caused by the differences in the measurement basis of elected instruments ( for example , cer- tain instruments elected were previously accounted for on an accrual basis ) while the associated risk management arrange- ments are accounted for on a fair value basis ; 2022 eliminate the complexities of applying certain accounting models ( e.g. , hedge accounting or bifurcation accounting for hybrid in- struments ) ; and 2022 better reflect those instruments that are managed on a fair value basis .', 'elections include : 2022 securities financing arrangements with an embedded derivative and/or a maturity of greater than one year .', '2022 loans purchased or originated as part of securitization ware- housing activity , subject to bifurcation accounting , or managed on a fair value basis .', '2022 structured notes issued as part of ib 2019s client-driven activities .', '( structured notes are financial instruments that contain embed- ded derivatives. ) 2022 certain tax credits and other equity investments acquired as part of the washington mutual transaction .', 'the cumulative effect on retained earnings of the adoption of the fair value option on january 1 , 2007 , was $ 199 million. .'] | 1.41792 | JPM/2009/page_175.pdf-3 | ['jpmorgan chase & co./2009 annual report 173 trading assets and liabilities average balances average trading assets and liabilities were as follows for the periods indicated. .'] | ['( a ) primarily represent securities sold , not yet purchased .', 'note 4 2013 fair value option the fair value option provides an option to elect fair value as an alternative measurement for selected financial assets , financial liabilities , unrecognized firm commitments , and written loan com- mitments not previously carried at fair value .', 'elections elections were made by the firm to : 2022 mitigate income statement volatility caused by the differences in the measurement basis of elected instruments ( for example , cer- tain instruments elected were previously accounted for on an accrual basis ) while the associated risk management arrange- ments are accounted for on a fair value basis ; 2022 eliminate the complexities of applying certain accounting models ( e.g. , hedge accounting or bifurcation accounting for hybrid in- struments ) ; and 2022 better reflect those instruments that are managed on a fair value basis .', 'elections include : 2022 securities financing arrangements with an embedded derivative and/or a maturity of greater than one year .', '2022 loans purchased or originated as part of securitization ware- housing activity , subject to bifurcation accounting , or managed on a fair value basis .', '2022 structured notes issued as part of ib 2019s client-driven activities .', '( structured notes are financial instruments that contain embed- ded derivatives. ) 2022 certain tax credits and other equity investments acquired as part of the washington mutual transaction .', 'the cumulative effect on retained earnings of the adoption of the fair value option on january 1 , 2007 , was $ 199 million. .'] | ----------------------------------------
Row 1: year ended december 31 ( in millions ), 2009, 2008, 2007
Row 2: trading assets 2013 debt and equity instruments, $ 318063, $ 384102, $ 381415
Row 3: trading assets 2013 derivative receivables, 110457, 121417, 65439
Row 4: trading liabilities 2013 debt and equityinstruments ( a ), $ 60224, $ 78841, $ 94737
Row 5: trading liabilities 2013 derivative payables, 77901, 93200, 65198
---------------------------------------- | divide(110457, 77901) | 1.41792 |
what percent of total derivatives are from interest rate contracts in 2013? | Background: ['december 31 , 2011 , the company recognized a decrease of $ 3 million of tax-related interest and penalties and had approximately $ 16 million accrued at december 31 , 2011 .', 'note 12 derivative instruments and fair value measurements the company is exposed to certain market risks such as changes in interest rates , foreign currency exchange rates , and commodity prices , which exist as a part of its ongoing business operations .', 'management uses derivative financial and commodity instruments , including futures , options , and swaps , where appropriate , to manage these risks .', 'instruments used as hedges must be effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract .', 'the company designates derivatives as cash flow hedges , fair value hedges , net investment hedges , and uses other contracts to reduce volatility in interest rates , foreign currency and commodities .', 'as a matter of policy , the company does not engage in trading or speculative hedging transactions .', 'total notional amounts of the company 2019s derivative instruments as of december 28 , 2013 and december 29 , 2012 were as follows: .']
----
Data Table:
----------------------------------------
• ( millions ), 2013, 2012
• foreign currency exchange contracts, $ 517, $ 570
• interest rate contracts, 2400, 2150
• commodity contracts, 361, 320
• total, $ 3278, $ 3040
----------------------------------------
----
Follow-up: ['following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the company that were included in each category at december 28 , 2013 and december 29 , 2012 , measured on a recurring basis .', 'level 1 2014 financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market .', 'for the company , level 1 financial assets and liabilities consist primarily of commodity derivative contracts .', 'level 2 2014 financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability .', 'for the company , level 2 financial assets and liabilities consist of interest rate swaps and over-the-counter commodity and currency contracts .', 'the company 2019s calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve .', 'over-the-counter commodity derivatives are valued using an income approach based on the commodity index prices less the contract rate multiplied by the notional amount .', 'foreign currency contracts are valued using an income approach based on forward rates less the contract rate multiplied by the notional amount .', 'the company 2019s calculation of the fair value of level 2 financial assets and liabilities takes into consideration the risk of nonperformance , including counterparty credit risk .', 'level 3 2014 financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement .', 'these inputs reflect management 2019s own assumptions about the assumptions a market participant would use in pricing the asset or liability .', 'the company did not have any level 3 financial assets or liabilities as of december 28 , 2013 or december 29 , 2012. .'] | 0.73215 | K/2013/page_62.pdf-2 | ['december 31 , 2011 , the company recognized a decrease of $ 3 million of tax-related interest and penalties and had approximately $ 16 million accrued at december 31 , 2011 .', 'note 12 derivative instruments and fair value measurements the company is exposed to certain market risks such as changes in interest rates , foreign currency exchange rates , and commodity prices , which exist as a part of its ongoing business operations .', 'management uses derivative financial and commodity instruments , including futures , options , and swaps , where appropriate , to manage these risks .', 'instruments used as hedges must be effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract .', 'the company designates derivatives as cash flow hedges , fair value hedges , net investment hedges , and uses other contracts to reduce volatility in interest rates , foreign currency and commodities .', 'as a matter of policy , the company does not engage in trading or speculative hedging transactions .', 'total notional amounts of the company 2019s derivative instruments as of december 28 , 2013 and december 29 , 2012 were as follows: .'] | ['following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the company that were included in each category at december 28 , 2013 and december 29 , 2012 , measured on a recurring basis .', 'level 1 2014 financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market .', 'for the company , level 1 financial assets and liabilities consist primarily of commodity derivative contracts .', 'level 2 2014 financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability .', 'for the company , level 2 financial assets and liabilities consist of interest rate swaps and over-the-counter commodity and currency contracts .', 'the company 2019s calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve .', 'over-the-counter commodity derivatives are valued using an income approach based on the commodity index prices less the contract rate multiplied by the notional amount .', 'foreign currency contracts are valued using an income approach based on forward rates less the contract rate multiplied by the notional amount .', 'the company 2019s calculation of the fair value of level 2 financial assets and liabilities takes into consideration the risk of nonperformance , including counterparty credit risk .', 'level 3 2014 financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement .', 'these inputs reflect management 2019s own assumptions about the assumptions a market participant would use in pricing the asset or liability .', 'the company did not have any level 3 financial assets or liabilities as of december 28 , 2013 or december 29 , 2012. .'] | ----------------------------------------
• ( millions ), 2013, 2012
• foreign currency exchange contracts, $ 517, $ 570
• interest rate contracts, 2400, 2150
• commodity contracts, 361, 320
• total, $ 3278, $ 3040
---------------------------------------- | divide(2400, 3278) | 0.73215 |
what is the net change in unrecognized tax benefits in 2012? | Pre-text: ['a valuation allowance totaling $ 43.9 million , $ 40.4 million and $ 40.1 million as of 2012 , 2011 and 2010 year end , respectively , has been established for deferred income tax assets primarily related to certain subsidiary loss carryforwards that may not be realized .', 'realization of the net deferred income tax assets is dependent on generating sufficient taxable income prior to their expiration .', 'although realization is not assured , management believes it is more- likely-than-not that the net deferred income tax assets will be realized .', 'the amount of the net deferred income tax assets considered realizable , however , could change in the near term if estimates of future taxable income during the carryforward period fluctuate .', 'the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for 2012 , 2011 and ( amounts in millions ) 2012 2011 2010 .']
--------
Data Table:
----------------------------------------
Row 1: ( amounts in millions ), 2012, 2011, 2010
Row 2: unrecognized tax benefits at beginning of year, $ 11.0, $ 11.1, $ 17.5
Row 3: gross increases 2013 tax positions in prior periods, 0.7, 0.5, 0.6
Row 4: gross decreases 2013 tax positions in prior periods, -4.9 ( 4.9 ), -0.4 ( 0.4 ), -0.4 ( 0.4 )
Row 5: gross increases 2013 tax positions in the current period, 1.2, 2.8, 3.1
Row 6: settlements with taxing authorities, 2013, -1.2 ( 1.2 ), -9.5 ( 9.5 )
Row 7: increase related to acquired business, 2013, 2013, 0.4
Row 8: lapsing of statutes of limitations, -1.2 ( 1.2 ), -1.8 ( 1.8 ), -0.6 ( 0.6 )
Row 9: unrecognized tax benefits at end of year, $ 6.8, $ 11.0, $ 11.1
----------------------------------------
--------
Follow-up: ['of the $ 6.8 million , $ 11.0 million and $ 11.1 million of unrecognized tax benefits as of 2012 , 2011 and 2010 year end , respectively , approximately $ 4.1 million , $ 9.1 million and $ 11.1 million , respectively , would impact the effective income tax rate if recognized .', 'interest and penalties related to unrecognized tax benefits are recorded in income tax expense .', 'during 2012 and 2011 , the company reversed a net $ 0.5 million and $ 1.4 million , respectively , of interest and penalties to income associated with unrecognized tax benefits .', 'as of 2012 , 2011 and 2010 year end , the company has provided for $ 1.6 million , $ 1.6 million and $ 2.8 million , respectively , of accrued interest and penalties related to unrecognized tax benefits .', 'the unrecognized tax benefits and related accrued interest and penalties are included in 201cother long-term liabilities 201d on the accompanying consolidated balance sheets .', 'snap-on and its subsidiaries file income tax returns in the united states and in various state , local and foreign jurisdictions .', 'it is reasonably possible that certain unrecognized tax benefits may either be settled with taxing authorities or the statutes of limitations for such items may lapse within the next 12 months , causing snap-on 2019s gross unrecognized tax benefits to decrease by a range of zero to $ 2.4 million .', 'over the next 12 months , snap-on anticipates taking uncertain tax positions on various tax returns for which the related tax benefit does not meet the recognition threshold .', 'accordingly , snap-on 2019s gross unrecognized tax benefits may increase by a range of zero to $ 1.6 million over the next 12 months for uncertain tax positions expected to be taken in future tax filings .', 'with few exceptions , snap-on is no longer subject to u.s .', 'federal and state/local income tax examinations by tax authorities for years prior to 2008 , and snap-on is no longer subject to non-u.s .', 'income tax examinations by tax authorities for years prior to 2006 .', 'the undistributed earnings of all non-u.s .', 'subsidiaries totaled $ 492.2 million , $ 416.4 million and $ 386.5 million as of 2012 , 2011 and 2010 year end , respectively .', 'snap-on has not provided any deferred taxes on these undistributed earnings as it considers the undistributed earnings to be permanently invested .', 'determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable .', '2012 annual report 83 .'] | -4.2 | SNA/2012/page_93.pdf-3 | ['a valuation allowance totaling $ 43.9 million , $ 40.4 million and $ 40.1 million as of 2012 , 2011 and 2010 year end , respectively , has been established for deferred income tax assets primarily related to certain subsidiary loss carryforwards that may not be realized .', 'realization of the net deferred income tax assets is dependent on generating sufficient taxable income prior to their expiration .', 'although realization is not assured , management believes it is more- likely-than-not that the net deferred income tax assets will be realized .', 'the amount of the net deferred income tax assets considered realizable , however , could change in the near term if estimates of future taxable income during the carryforward period fluctuate .', 'the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for 2012 , 2011 and ( amounts in millions ) 2012 2011 2010 .'] | ['of the $ 6.8 million , $ 11.0 million and $ 11.1 million of unrecognized tax benefits as of 2012 , 2011 and 2010 year end , respectively , approximately $ 4.1 million , $ 9.1 million and $ 11.1 million , respectively , would impact the effective income tax rate if recognized .', 'interest and penalties related to unrecognized tax benefits are recorded in income tax expense .', 'during 2012 and 2011 , the company reversed a net $ 0.5 million and $ 1.4 million , respectively , of interest and penalties to income associated with unrecognized tax benefits .', 'as of 2012 , 2011 and 2010 year end , the company has provided for $ 1.6 million , $ 1.6 million and $ 2.8 million , respectively , of accrued interest and penalties related to unrecognized tax benefits .', 'the unrecognized tax benefits and related accrued interest and penalties are included in 201cother long-term liabilities 201d on the accompanying consolidated balance sheets .', 'snap-on and its subsidiaries file income tax returns in the united states and in various state , local and foreign jurisdictions .', 'it is reasonably possible that certain unrecognized tax benefits may either be settled with taxing authorities or the statutes of limitations for such items may lapse within the next 12 months , causing snap-on 2019s gross unrecognized tax benefits to decrease by a range of zero to $ 2.4 million .', 'over the next 12 months , snap-on anticipates taking uncertain tax positions on various tax returns for which the related tax benefit does not meet the recognition threshold .', 'accordingly , snap-on 2019s gross unrecognized tax benefits may increase by a range of zero to $ 1.6 million over the next 12 months for uncertain tax positions expected to be taken in future tax filings .', 'with few exceptions , snap-on is no longer subject to u.s .', 'federal and state/local income tax examinations by tax authorities for years prior to 2008 , and snap-on is no longer subject to non-u.s .', 'income tax examinations by tax authorities for years prior to 2006 .', 'the undistributed earnings of all non-u.s .', 'subsidiaries totaled $ 492.2 million , $ 416.4 million and $ 386.5 million as of 2012 , 2011 and 2010 year end , respectively .', 'snap-on has not provided any deferred taxes on these undistributed earnings as it considers the undistributed earnings to be permanently invested .', 'determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable .', '2012 annual report 83 .'] | ----------------------------------------
Row 1: ( amounts in millions ), 2012, 2011, 2010
Row 2: unrecognized tax benefits at beginning of year, $ 11.0, $ 11.1, $ 17.5
Row 3: gross increases 2013 tax positions in prior periods, 0.7, 0.5, 0.6
Row 4: gross decreases 2013 tax positions in prior periods, -4.9 ( 4.9 ), -0.4 ( 0.4 ), -0.4 ( 0.4 )
Row 5: gross increases 2013 tax positions in the current period, 1.2, 2.8, 3.1
Row 6: settlements with taxing authorities, 2013, -1.2 ( 1.2 ), -9.5 ( 9.5 )
Row 7: increase related to acquired business, 2013, 2013, 0.4
Row 8: lapsing of statutes of limitations, -1.2 ( 1.2 ), -1.8 ( 1.8 ), -0.6 ( 0.6 )
Row 9: unrecognized tax benefits at end of year, $ 6.8, $ 11.0, $ 11.1
---------------------------------------- | subtract(6.8, 11.0) | -4.2 |
by what percent did the balance of deferred tax assets increase between 2016 and 2018? | Context: ['westrock company notes to consolidated financial statements fffd ( continued ) at september 30 , 2018 and september 30 , 2017 , gross net operating losses for foreign reporting purposes of approximately $ 698.4 million and $ 673.7 million , respectively , were available for carryforward .', 'a majority of these loss carryforwards generally expire between fiscal 2020 and 2038 , while a portion have an indefinite carryforward .', 'the tax effected values of these net operating losses are $ 185.8 million and $ 182.6 million at september 30 , 2018 and 2017 , respectively , exclusive of valuation allowances of $ 161.5 million and $ 149.6 million at september 30 , 2018 and 2017 , respectively .', 'at september 30 , 2018 and 2017 , we had state tax credit carryforwards of $ 64.8 million and $ 54.4 million , respectively .', 'these state tax credit carryforwards generally expire within 5 to 10 years ; however , certain state credits can be carried forward indefinitely .', 'valuation allowances of $ 56.1 million and $ 47.3 million at september 30 , 2018 and 2017 , respectively , have been provided on these assets .', 'these valuation allowances have been recorded due to uncertainty regarding our ability to generate sufficient taxable income in the appropriate taxing jurisdiction .', 'the following table represents a summary of the valuation allowances against deferred tax assets for fiscal 2018 , 2017 and 2016 ( in millions ) : .']
##########
Table:
========================================
2018 2017 2016
balance at beginning of fiscal year $ 219.1 $ 177.2 $ 100.2
increases 50.8 54.3 24.8
allowances related to purchase accounting ( 1 ) 0.1 12.4 63.0
reductions -40.6 ( 40.6 ) -24.8 ( 24.8 ) -10.8 ( 10.8 )
balance at end of fiscal year $ 229.4 $ 219.1 $ 177.2
========================================
##########
Post-table: ['( 1 ) amounts in fiscal 2018 and 2017 relate to the mps acquisition .', 'adjustments in fiscal 2016 relate to the combination and the sp fiber acquisition .', 'consistent with prior years , we consider a portion of our earnings from certain foreign subsidiaries as subject to repatriation and we provide for taxes accordingly .', 'however , we consider the unremitted earnings and all other outside basis differences from all other foreign subsidiaries to be indefinitely reinvested .', 'accordingly , we have not provided for any taxes that would be due .', 'as of september 30 , 2018 , we estimate our outside basis difference in foreign subsidiaries that are considered indefinitely reinvested to be approximately $ 1.5 billion .', 'the components of the outside basis difference are comprised of purchase accounting adjustments , undistributed earnings , and equity components .', 'except for the portion of our earnings from certain foreign subsidiaries where we provided for taxes , we have not provided for any taxes that would be due upon the reversal of the outside basis differences .', 'however , in the event of a distribution in the form of dividends or dispositions of the subsidiaries , we may be subject to incremental u.s .', 'income taxes , subject to an adjustment for foreign tax credits , and withholding taxes or income taxes payable to the foreign jurisdictions .', 'as of september 30 , 2018 , the determination of the amount of unrecognized deferred tax liability related to any remaining undistributed foreign earnings not subject to the transition tax and additional outside basis differences is not practicable. .'] | 0.29458 | WRK/2018/page_106.pdf-1 | ['westrock company notes to consolidated financial statements fffd ( continued ) at september 30 , 2018 and september 30 , 2017 , gross net operating losses for foreign reporting purposes of approximately $ 698.4 million and $ 673.7 million , respectively , were available for carryforward .', 'a majority of these loss carryforwards generally expire between fiscal 2020 and 2038 , while a portion have an indefinite carryforward .', 'the tax effected values of these net operating losses are $ 185.8 million and $ 182.6 million at september 30 , 2018 and 2017 , respectively , exclusive of valuation allowances of $ 161.5 million and $ 149.6 million at september 30 , 2018 and 2017 , respectively .', 'at september 30 , 2018 and 2017 , we had state tax credit carryforwards of $ 64.8 million and $ 54.4 million , respectively .', 'these state tax credit carryforwards generally expire within 5 to 10 years ; however , certain state credits can be carried forward indefinitely .', 'valuation allowances of $ 56.1 million and $ 47.3 million at september 30 , 2018 and 2017 , respectively , have been provided on these assets .', 'these valuation allowances have been recorded due to uncertainty regarding our ability to generate sufficient taxable income in the appropriate taxing jurisdiction .', 'the following table represents a summary of the valuation allowances against deferred tax assets for fiscal 2018 , 2017 and 2016 ( in millions ) : .'] | ['( 1 ) amounts in fiscal 2018 and 2017 relate to the mps acquisition .', 'adjustments in fiscal 2016 relate to the combination and the sp fiber acquisition .', 'consistent with prior years , we consider a portion of our earnings from certain foreign subsidiaries as subject to repatriation and we provide for taxes accordingly .', 'however , we consider the unremitted earnings and all other outside basis differences from all other foreign subsidiaries to be indefinitely reinvested .', 'accordingly , we have not provided for any taxes that would be due .', 'as of september 30 , 2018 , we estimate our outside basis difference in foreign subsidiaries that are considered indefinitely reinvested to be approximately $ 1.5 billion .', 'the components of the outside basis difference are comprised of purchase accounting adjustments , undistributed earnings , and equity components .', 'except for the portion of our earnings from certain foreign subsidiaries where we provided for taxes , we have not provided for any taxes that would be due upon the reversal of the outside basis differences .', 'however , in the event of a distribution in the form of dividends or dispositions of the subsidiaries , we may be subject to incremental u.s .', 'income taxes , subject to an adjustment for foreign tax credits , and withholding taxes or income taxes payable to the foreign jurisdictions .', 'as of september 30 , 2018 , the determination of the amount of unrecognized deferred tax liability related to any remaining undistributed foreign earnings not subject to the transition tax and additional outside basis differences is not practicable. .'] | ========================================
2018 2017 2016
balance at beginning of fiscal year $ 219.1 $ 177.2 $ 100.2
increases 50.8 54.3 24.8
allowances related to purchase accounting ( 1 ) 0.1 12.4 63.0
reductions -40.6 ( 40.6 ) -24.8 ( 24.8 ) -10.8 ( 10.8 )
balance at end of fiscal year $ 229.4 $ 219.1 $ 177.2
======================================== | subtract(229.4, 177.2), divide(#0, 177.2) | 0.29458 |
what is the growth rate for net cash provided by operating activities from 2013 to 2014? | Background: ['management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) corporate and other expenses increased slightly during 2013 by $ 3.5 to $ 140.8 compared to 2012 , primarily due to an increase in salaries and related expenses , mainly attributable to higher base salaries , benefits and temporary help , partially offset by lower severance expenses and a decrease in office and general expenses .', 'liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. .']
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Tabular Data:
****************************************
cash flow data | years ended december 31 , 2014 | years ended december 31 , 2013 | years ended december 31 , 2012
net income adjusted to reconcile net income to net cashprovided by operating activities1 | $ 831.2 | $ 598.4 | $ 697.2
net cash used in working capital b2 | -131.1 ( 131.1 ) | -9.6 ( 9.6 ) | -293.2 ( 293.2 )
changes in other non-current assets and liabilities using cash | -30.6 ( 30.6 ) | 4.1 | -46.8 ( 46.8 )
net cash provided by operating activities | $ 669.5 | $ 592.9 | $ 357.2
net cash used in investing activities | -200.8 ( 200.8 ) | -224.5 ( 224.5 ) | -210.2 ( 210.2 )
net cash ( used in ) provided by financing activities | -343.9 ( 343.9 ) | -1212.3 ( 1212.3 ) | 131.3
****************************************
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Additional Information: ['1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , non-cash ( gain ) loss related to early extinguishment of debt , and deferred income taxes .', '2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities .', 'operating activities net cash provided by operating activities during 2014 was $ 669.5 , which was an improvement of $ 76.6 as compared to 2013 , primarily as a result of an increase in net income , offset by an increase in working capital usage of $ 121.5 .', 'due to the seasonality of our business , we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year , with the largest impacts in the first and fourth quarters .', 'our net working capital usage in 2014 was impacted by our media businesses .', 'net cash provided by operating activities during 2013 was $ 592.9 , which was an increase of $ 235.7 as compared to 2012 , primarily as a result of an improvement in working capital usage of $ 283.6 , offset by a decrease in net income .', 'the improvement in working capital in 2013 was impacted by our media businesses and an ongoing focus on working capital management at our agencies .', 'the timing of media buying on behalf of our clients affects our working capital and operating cash flow .', 'in most of our businesses , our agencies enter into commitments to pay production and media costs on behalf of clients .', 'to the extent possible we pay production and media charges after we have received funds from our clients .', 'the amounts involved substantially exceed our revenues and primarily affect the level of accounts receivable , expenditures billable to clients , accounts payable and accrued liabilities .', 'our assets include both cash received and accounts receivable from clients for these pass-through arrangements , while our liabilities include amounts owed on behalf of clients to media and production suppliers .', 'our accrued liabilities are also affected by the timing of certain other payments .', 'for example , while annual cash incentive awards are accrued throughout the year , they are generally paid during the first quarter of the subsequent year .', 'investing activities net cash used in investing activities during 2014 primarily related to payments for capital expenditures and acquisitions .', 'capital expenditures of $ 148.7 related primarily to computer hardware and software and leasehold improvements .', 'we made payments of $ 67.8 related to acquisitions completed during 2014 , net of cash acquired. .'] | 0.1292 | IPG/2014/page_36.pdf-3 | ['management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) corporate and other expenses increased slightly during 2013 by $ 3.5 to $ 140.8 compared to 2012 , primarily due to an increase in salaries and related expenses , mainly attributable to higher base salaries , benefits and temporary help , partially offset by lower severance expenses and a decrease in office and general expenses .', 'liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. .'] | ['1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , non-cash ( gain ) loss related to early extinguishment of debt , and deferred income taxes .', '2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities .', 'operating activities net cash provided by operating activities during 2014 was $ 669.5 , which was an improvement of $ 76.6 as compared to 2013 , primarily as a result of an increase in net income , offset by an increase in working capital usage of $ 121.5 .', 'due to the seasonality of our business , we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year , with the largest impacts in the first and fourth quarters .', 'our net working capital usage in 2014 was impacted by our media businesses .', 'net cash provided by operating activities during 2013 was $ 592.9 , which was an increase of $ 235.7 as compared to 2012 , primarily as a result of an improvement in working capital usage of $ 283.6 , offset by a decrease in net income .', 'the improvement in working capital in 2013 was impacted by our media businesses and an ongoing focus on working capital management at our agencies .', 'the timing of media buying on behalf of our clients affects our working capital and operating cash flow .', 'in most of our businesses , our agencies enter into commitments to pay production and media costs on behalf of clients .', 'to the extent possible we pay production and media charges after we have received funds from our clients .', 'the amounts involved substantially exceed our revenues and primarily affect the level of accounts receivable , expenditures billable to clients , accounts payable and accrued liabilities .', 'our assets include both cash received and accounts receivable from clients for these pass-through arrangements , while our liabilities include amounts owed on behalf of clients to media and production suppliers .', 'our accrued liabilities are also affected by the timing of certain other payments .', 'for example , while annual cash incentive awards are accrued throughout the year , they are generally paid during the first quarter of the subsequent year .', 'investing activities net cash used in investing activities during 2014 primarily related to payments for capital expenditures and acquisitions .', 'capital expenditures of $ 148.7 related primarily to computer hardware and software and leasehold improvements .', 'we made payments of $ 67.8 related to acquisitions completed during 2014 , net of cash acquired. .'] | ****************************************
cash flow data | years ended december 31 , 2014 | years ended december 31 , 2013 | years ended december 31 , 2012
net income adjusted to reconcile net income to net cashprovided by operating activities1 | $ 831.2 | $ 598.4 | $ 697.2
net cash used in working capital b2 | -131.1 ( 131.1 ) | -9.6 ( 9.6 ) | -293.2 ( 293.2 )
changes in other non-current assets and liabilities using cash | -30.6 ( 30.6 ) | 4.1 | -46.8 ( 46.8 )
net cash provided by operating activities | $ 669.5 | $ 592.9 | $ 357.2
net cash used in investing activities | -200.8 ( 200.8 ) | -224.5 ( 224.5 ) | -210.2 ( 210.2 )
net cash ( used in ) provided by financing activities | -343.9 ( 343.9 ) | -1212.3 ( 1212.3 ) | 131.3
**************************************** | subtract(669.5, 592.9), divide(#0, 592.9) | 0.1292 |
in 2016 what was the percent of the cib markets net interest income ( c ) as part of the total net interest income 2013 managed basis | Background: ['jpmorgan chase & co./2017 annual report 53 net interest income excluding cib 2019s markets businesses in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding net interest income arising from cib 2019s markets businesses to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'this net interest income is referred to as non-markets related net interest income .', 'cib 2019s markets businesses are fixed income markets and equity markets .', 'management believes that disclosure of non-markets related net interest income provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'the data presented below are non-gaap financial measures due to the exclusion of markets related net interest income arising from cib .', 'year ended december 31 , ( in millions , except rates ) 2017 2016 2015 net interest income 2013 managed basis ( a ) ( b ) $ 51410 $ 47292 $ 44620 less : cib markets net interest income ( c ) 4630 6334 5298 net interest income excluding cib markets ( a ) $ 46780 $ 40958 $ 39322 average interest-earning assets $ 2180592 $ 2101604 $ 2088242 less : average cib markets interest-earning assets ( c ) 540835 520307 510292 average interest-earning assets excluding cib markets $ 1639757 $ 1581297 $ 1577950 net interest yield on average interest-earning assets 2013 managed basis 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) 2.14% ( 2.14 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.86 1.22 1.04 net interest yield on average interest-earning assets excluding cib markets 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) 2.49% ( 2.49 % ) ( a ) interest includes the effect of related hedges .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 52 .', '( c ) the amounts in this table differ from the prior-period presentation to align with cib 2019s markets businesses .', 'for further information on cib 2019s markets businesses , see page 65 .', 'calculation of certain u.s .', 'gaap and non-gaap financial measures certain u.s .', 'gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity .']
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Data Table:
========================================
year ended december 31 ( in millions except rates ) | 2017 | 2016 | 2015
net interest income 2013 managed basis ( a ) ( b ) | $ 51410 | $ 47292 | $ 44620
less : cib markets net interest income ( c ) | 4630 | 6334 | 5298
net interest income excluding cib markets ( a ) | $ 46780 | $ 40958 | $ 39322
average interest-earning assets | $ 2180592 | $ 2101604 | $ 2088242
less : average cib markets interest-earning assets ( c ) | 540835 | 520307 | 510292
average interest-earning assets excluding cib markets | $ 1639757 | $ 1581297 | $ 1577950
net interest yield on average interest-earning assets 2013 managed basis | 2.36% ( 2.36 % ) | 2.25% ( 2.25 % ) | 2.14% ( 2.14 % )
net interest yield on average cib markets interest-earning assets ( c ) | 0.86 | 1.22 | 1.04
net interest yield on average interest-earning assets excluding cib markets | 2.85% ( 2.85 % ) | 2.59% ( 2.59 % ) | 2.49% ( 2.49 % )
========================================
----------
Follow-up: ['jpmorgan chase & co./2017 annual report 53 net interest income excluding cib 2019s markets businesses in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding net interest income arising from cib 2019s markets businesses to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'this net interest income is referred to as non-markets related net interest income .', 'cib 2019s markets businesses are fixed income markets and equity markets .', 'management believes that disclosure of non-markets related net interest income provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'the data presented below are non-gaap financial measures due to the exclusion of markets related net interest income arising from cib .', 'year ended december 31 , ( in millions , except rates ) 2017 2016 2015 net interest income 2013 managed basis ( a ) ( b ) $ 51410 $ 47292 $ 44620 less : cib markets net interest income ( c ) 4630 6334 5298 net interest income excluding cib markets ( a ) $ 46780 $ 40958 $ 39322 average interest-earning assets $ 2180592 $ 2101604 $ 2088242 less : average cib markets interest-earning assets ( c ) 540835 520307 510292 average interest-earning assets excluding cib markets $ 1639757 $ 1581297 $ 1577950 net interest yield on average interest-earning assets 2013 managed basis 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) 2.14% ( 2.14 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.86 1.22 1.04 net interest yield on average interest-earning assets excluding cib markets 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) 2.49% ( 2.49 % ) ( a ) interest includes the effect of related hedges .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 52 .', '( c ) the amounts in this table differ from the prior-period presentation to align with cib 2019s markets businesses .', 'for further information on cib 2019s markets businesses , see page 65 .', 'calculation of certain u.s .', 'gaap and non-gaap financial measures certain u.s .', 'gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity .'] | 0.13393 | JPM/2017/page_83.pdf-1 | ['jpmorgan chase & co./2017 annual report 53 net interest income excluding cib 2019s markets businesses in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding net interest income arising from cib 2019s markets businesses to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'this net interest income is referred to as non-markets related net interest income .', 'cib 2019s markets businesses are fixed income markets and equity markets .', 'management believes that disclosure of non-markets related net interest income provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'the data presented below are non-gaap financial measures due to the exclusion of markets related net interest income arising from cib .', 'year ended december 31 , ( in millions , except rates ) 2017 2016 2015 net interest income 2013 managed basis ( a ) ( b ) $ 51410 $ 47292 $ 44620 less : cib markets net interest income ( c ) 4630 6334 5298 net interest income excluding cib markets ( a ) $ 46780 $ 40958 $ 39322 average interest-earning assets $ 2180592 $ 2101604 $ 2088242 less : average cib markets interest-earning assets ( c ) 540835 520307 510292 average interest-earning assets excluding cib markets $ 1639757 $ 1581297 $ 1577950 net interest yield on average interest-earning assets 2013 managed basis 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) 2.14% ( 2.14 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.86 1.22 1.04 net interest yield on average interest-earning assets excluding cib markets 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) 2.49% ( 2.49 % ) ( a ) interest includes the effect of related hedges .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 52 .', '( c ) the amounts in this table differ from the prior-period presentation to align with cib 2019s markets businesses .', 'for further information on cib 2019s markets businesses , see page 65 .', 'calculation of certain u.s .', 'gaap and non-gaap financial measures certain u.s .', 'gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity .'] | ['jpmorgan chase & co./2017 annual report 53 net interest income excluding cib 2019s markets businesses in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding net interest income arising from cib 2019s markets businesses to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .', 'this net interest income is referred to as non-markets related net interest income .', 'cib 2019s markets businesses are fixed income markets and equity markets .', 'management believes that disclosure of non-markets related net interest income provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .', 'the data presented below are non-gaap financial measures due to the exclusion of markets related net interest income arising from cib .', 'year ended december 31 , ( in millions , except rates ) 2017 2016 2015 net interest income 2013 managed basis ( a ) ( b ) $ 51410 $ 47292 $ 44620 less : cib markets net interest income ( c ) 4630 6334 5298 net interest income excluding cib markets ( a ) $ 46780 $ 40958 $ 39322 average interest-earning assets $ 2180592 $ 2101604 $ 2088242 less : average cib markets interest-earning assets ( c ) 540835 520307 510292 average interest-earning assets excluding cib markets $ 1639757 $ 1581297 $ 1577950 net interest yield on average interest-earning assets 2013 managed basis 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) 2.14% ( 2.14 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.86 1.22 1.04 net interest yield on average interest-earning assets excluding cib markets 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) 2.49% ( 2.49 % ) ( a ) interest includes the effect of related hedges .', 'taxable-equivalent amounts are used where applicable .', '( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s .', 'gaap results to managed basis on page 52 .', '( c ) the amounts in this table differ from the prior-period presentation to align with cib 2019s markets businesses .', 'for further information on cib 2019s markets businesses , see page 65 .', 'calculation of certain u.s .', 'gaap and non-gaap financial measures certain u.s .', 'gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity .'] | ========================================
year ended december 31 ( in millions except rates ) | 2017 | 2016 | 2015
net interest income 2013 managed basis ( a ) ( b ) | $ 51410 | $ 47292 | $ 44620
less : cib markets net interest income ( c ) | 4630 | 6334 | 5298
net interest income excluding cib markets ( a ) | $ 46780 | $ 40958 | $ 39322
average interest-earning assets | $ 2180592 | $ 2101604 | $ 2088242
less : average cib markets interest-earning assets ( c ) | 540835 | 520307 | 510292
average interest-earning assets excluding cib markets | $ 1639757 | $ 1581297 | $ 1577950
net interest yield on average interest-earning assets 2013 managed basis | 2.36% ( 2.36 % ) | 2.25% ( 2.25 % ) | 2.14% ( 2.14 % )
net interest yield on average cib markets interest-earning assets ( c ) | 0.86 | 1.22 | 1.04
net interest yield on average interest-earning assets excluding cib markets | 2.85% ( 2.85 % ) | 2.59% ( 2.59 % ) | 2.49% ( 2.49 % )
======================================== | divide(6334, 47292) | 0.13393 |
based on the review of the unrecognized tax benefits what was the average settlement amount from 2007 to 2009 in millions | Background: ['deferred tax assets and liabilities are recorded in the accompanying consolidated balance sheet under the captions deferred income tax assets , deferred charges and other assets , other accrued liabilities and deferred income taxes .', 'the decrease in 2009 in deferred tax assets principally relates to the tax impact of changes in recorded qualified pension liabilities , minimum tax credit utilization and an increase in the valuation allowance .', 'the decrease in deferred income tax liabilities principally relates to less tax depreciation taken on the company 2019s assets purchased in 2009 .', 'the valuation allowance for deferred tax assets as of december 31 , 2008 was $ 72 million .', 'the net change in the total valuation allowance for the year ended december 31 , 2009 , was an increase of $ 274 million .', 'the increase of $ 274 million consists primarily of : ( 1 ) $ 211 million related to the company 2019s french operations , including a valuation allowance of $ 55 million against net deferred tax assets from current year operations and $ 156 million recorded in the second quarter of 2009 for the establishment of a valuation allowance against previously recorded deferred tax assets , ( 2 ) $ 10 million for net deferred tax assets arising from the company 2019s united king- dom current year operations , and ( 3 ) $ 47 million related to a reduction of previously recorded u.s .', 'state deferred tax assets , including $ 15 million recorded in the fourth quarter of 2009 for louisiana recycling credits .', 'the effect on the company 2019s effec- tive tax rate of the aforementioned $ 211 million and $ 10 million is included in the line item 201ctax rate and permanent differences on non-u.s .', 'earnings . 201d international paper adopted the provisions of new guidance under asc 740 , 201cincome taxes , 201d on jan- uary 1 , 2007 related to uncertain tax positions .', 'as a result of the implementation of this new guidance , the company recorded a charge to the beginning balance of retained earnings of $ 94 million , which was accounted for as a reduction to the january 1 , 2007 balance of retained earnings .', 'a reconciliation of the beginning and ending amount of unrecognized tax benefits for the year ending december 31 , 2009 and 2008 is as follows : in millions 2009 2008 2007 .']
--
Data Table:
• in millions, 2009, 2008, 2007
• balance at january 1, $ -435 ( 435 ), $ -794 ( 794 ), -919 ( 919 )
• additions based on tax positions related to current year, -28 ( 28 ), -14 ( 14 ), -12 ( 12 )
• additions for tax positions of prior years, -82 ( 82 ), -66 ( 66 ), -30 ( 30 )
• reductions for tax positions of prior years, 72, 67, 74
• settlements, 174, 352, 112
• expiration of statutes of limitations, 2, 3, 5
• currency translation adjustment, -11 ( 11 ), 17, -24 ( 24 )
• balance at december 31, $ -308 ( 308 ), $ -435 ( 435 ), $ -794 ( 794 )
--
Additional Information: ['included in the balance at december 31 , 2009 and 2008 are $ 56 million and $ 9 million , respectively , for tax positions for which the ultimate benefits are highly certain , but for which there is uncertainty about the timing of such benefits .', 'however , except for the possible effect of any penalties , any dis- allowance that would change the timing of these benefits would not affect the annual effective tax rate , but would accelerate the payment of cash to the taxing authority to an earlier period .', 'the company accrues interest on unrecognized tax benefits as a component of interest expense .', 'penal- ties , if incurred , are recognized as a component of income tax expense .', 'the company had approx- imately $ 95 million and $ 74 million accrued for the payment of estimated interest and penalties asso- ciated with unrecognized tax benefits at december 31 , 2009 and 2008 , respectively .', 'the major jurisdictions where the company files income tax returns are the united states , brazil , france , poland and russia .', 'generally , tax years 2002 through 2009 remain open and subject to examina- tion by the relevant tax authorities .', 'the company is typically engaged in various tax examinations at any given time , both in the united states and overseas .', 'currently , the company is engaged in discussions with the u.s .', 'internal revenue service regarding the examination of tax years 2006 and 2007 .', 'as a result of these discussions , other pending tax audit settle- ments , and the expiration of statutes of limitation , the company currently estimates that the amount of unrecognized tax benefits could be reduced by up to $ 125 million during the next twelve months .', 'during 2009 , unrecognized tax benefits decreased by $ 127 million .', 'while the company believes that it is adequately accrued for possible audit adjustments , the final resolution of these examinations cannot be determined at this time and could result in final settlements that differ from current estimates .', 'the company 2019s 2009 income tax provision of $ 469 million included $ 279 million related to special items and other charges , consisting of a $ 534 million tax benefit related to restructuring and other charges , a $ 650 million tax expense for the alternative fuel mixture credit , and $ 163 million of tax-related adjustments including a $ 156 million tax expense to establish a valuation allowance for net operating loss carryforwards in france , a $ 26 million tax benefit for the effective settlement of federal tax audits , a $ 15 million tax expense to establish a valuation allow- ance for louisiana recycling credits , and $ 18 million of other income tax adjustments .', 'excluding the impact of special items , the tax provision was .'] | 320.5 | IP/2009/page_83.pdf-3 | ['deferred tax assets and liabilities are recorded in the accompanying consolidated balance sheet under the captions deferred income tax assets , deferred charges and other assets , other accrued liabilities and deferred income taxes .', 'the decrease in 2009 in deferred tax assets principally relates to the tax impact of changes in recorded qualified pension liabilities , minimum tax credit utilization and an increase in the valuation allowance .', 'the decrease in deferred income tax liabilities principally relates to less tax depreciation taken on the company 2019s assets purchased in 2009 .', 'the valuation allowance for deferred tax assets as of december 31 , 2008 was $ 72 million .', 'the net change in the total valuation allowance for the year ended december 31 , 2009 , was an increase of $ 274 million .', 'the increase of $ 274 million consists primarily of : ( 1 ) $ 211 million related to the company 2019s french operations , including a valuation allowance of $ 55 million against net deferred tax assets from current year operations and $ 156 million recorded in the second quarter of 2009 for the establishment of a valuation allowance against previously recorded deferred tax assets , ( 2 ) $ 10 million for net deferred tax assets arising from the company 2019s united king- dom current year operations , and ( 3 ) $ 47 million related to a reduction of previously recorded u.s .', 'state deferred tax assets , including $ 15 million recorded in the fourth quarter of 2009 for louisiana recycling credits .', 'the effect on the company 2019s effec- tive tax rate of the aforementioned $ 211 million and $ 10 million is included in the line item 201ctax rate and permanent differences on non-u.s .', 'earnings . 201d international paper adopted the provisions of new guidance under asc 740 , 201cincome taxes , 201d on jan- uary 1 , 2007 related to uncertain tax positions .', 'as a result of the implementation of this new guidance , the company recorded a charge to the beginning balance of retained earnings of $ 94 million , which was accounted for as a reduction to the january 1 , 2007 balance of retained earnings .', 'a reconciliation of the beginning and ending amount of unrecognized tax benefits for the year ending december 31 , 2009 and 2008 is as follows : in millions 2009 2008 2007 .'] | ['included in the balance at december 31 , 2009 and 2008 are $ 56 million and $ 9 million , respectively , for tax positions for which the ultimate benefits are highly certain , but for which there is uncertainty about the timing of such benefits .', 'however , except for the possible effect of any penalties , any dis- allowance that would change the timing of these benefits would not affect the annual effective tax rate , but would accelerate the payment of cash to the taxing authority to an earlier period .', 'the company accrues interest on unrecognized tax benefits as a component of interest expense .', 'penal- ties , if incurred , are recognized as a component of income tax expense .', 'the company had approx- imately $ 95 million and $ 74 million accrued for the payment of estimated interest and penalties asso- ciated with unrecognized tax benefits at december 31 , 2009 and 2008 , respectively .', 'the major jurisdictions where the company files income tax returns are the united states , brazil , france , poland and russia .', 'generally , tax years 2002 through 2009 remain open and subject to examina- tion by the relevant tax authorities .', 'the company is typically engaged in various tax examinations at any given time , both in the united states and overseas .', 'currently , the company is engaged in discussions with the u.s .', 'internal revenue service regarding the examination of tax years 2006 and 2007 .', 'as a result of these discussions , other pending tax audit settle- ments , and the expiration of statutes of limitation , the company currently estimates that the amount of unrecognized tax benefits could be reduced by up to $ 125 million during the next twelve months .', 'during 2009 , unrecognized tax benefits decreased by $ 127 million .', 'while the company believes that it is adequately accrued for possible audit adjustments , the final resolution of these examinations cannot be determined at this time and could result in final settlements that differ from current estimates .', 'the company 2019s 2009 income tax provision of $ 469 million included $ 279 million related to special items and other charges , consisting of a $ 534 million tax benefit related to restructuring and other charges , a $ 650 million tax expense for the alternative fuel mixture credit , and $ 163 million of tax-related adjustments including a $ 156 million tax expense to establish a valuation allowance for net operating loss carryforwards in france , a $ 26 million tax benefit for the effective settlement of federal tax audits , a $ 15 million tax expense to establish a valuation allow- ance for louisiana recycling credits , and $ 18 million of other income tax adjustments .', 'excluding the impact of special items , the tax provision was .'] | • in millions, 2009, 2008, 2007
• balance at january 1, $ -435 ( 435 ), $ -794 ( 794 ), -919 ( 919 )
• additions based on tax positions related to current year, -28 ( 28 ), -14 ( 14 ), -12 ( 12 )
• additions for tax positions of prior years, -82 ( 82 ), -66 ( 66 ), -30 ( 30 )
• reductions for tax positions of prior years, 72, 67, 74
• settlements, 174, 352, 112
• expiration of statutes of limitations, 2, 3, 5
• currency translation adjustment, -11 ( 11 ), 17, -24 ( 24 )
• balance at december 31, $ -308 ( 308 ), $ -435 ( 435 ), $ -794 ( 794 ) | add(174, 352), add(#0, 112), add(#1, const_3), divide(#2, const_2) | 320.5 |
what is the total number of containerboard mills and corrugated manufacturing operations? | Background: ['item 1b .', 'unresolved staff comments item 2 .', 'properties the table below provides a summary of our containerboard mills , the principal products produced and each mill 2019s year-end 2011 annual practical maximum capacity based upon all of our paper machines 2019 production capabilities , as reported to the af&pa : location function capacity ( tons ) counce , tn .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', 'kraft linerboard mill 1043000 valdosta , ga .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', 'kraft linerboard mill 556000 tomahawk , wi .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', 'semi-chemical medium mill 538000 filer city , mi .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', 'semi-chemical medium mill 438000 .']
--
Data Table:
location function kraft linerboard mill kraft linerboard mill semi-chemical medium mill semi-chemical medium mill capacity ( tons ) 1043000 556000 538000 438000
counce tn valdosta ga tomahawk wi
filer city mi filer city mi filer city mi
total 2575000
--
Additional Information: ['we currently own our four containerboard mills and 44 of our corrugated manufacturing operations ( 37 corrugated plants and seven sheet plants ) .', 'we also own one warehouse and miscellaneous other property , which includes sales offices and woodlands management offices .', 'these sales offices and woodlands management offices generally have one to four employees and serve as administrative offices .', 'pca leases the space for four corrugated plants , 23 sheet plants , six regional design centers , and numerous other distribution centers , warehouses and facilities .', 'the equipment in these leased facilities is , in virtually all cases , owned by pca , except for forklifts and other rolling stock which are generally leased .', 'we lease the cutting rights to approximately 88000 acres of timberland located near our valdosta mill ( 77000 acres ) and our counce mill ( 11000 acres ) .', 'on average , these cutting rights agreements have terms with approximately 12 years remaining .', 'our corporate headquarters is located in lake forest , illinois .', 'the headquarters facility is leased for the next ten years with provisions for two additional five year lease extensions .', 'item 3 .', 'legal proceedings during september and october 2010 , pca and eight other u.s .', 'and canadian containerboard producers were named as defendants in five purported class action lawsuits filed in the united states district court for the northern district of illinois , alleging violations of the sherman act .', 'the lawsuits have been consolidated in a single complaint under the caption kleen products llc v packaging corp .', 'of america et al .', 'the consolidated complaint alleges that the defendants conspired to limit the supply of containerboard , and that the purpose and effect of the alleged conspiracy was to artificially increase prices of containerboard products during the period from august 2005 to the time of filing of the complaints .', 'the complaint was filed as a purported class action suit on behalf of all purchasers of containerboard products during such period .', 'the complaint seeks treble damages and costs , including attorney 2019s fees .', 'the defendants 2019 motions to dismiss the complaint were denied by the court in april 2011 .', 'pca believes the allegations are without merit and will defend this lawsuit vigorously .', 'however , as the lawsuit is in the early stages of discovery , pca is unable to predict the ultimate outcome or estimate a range of reasonably possible losses .', 'pca is a party to various other legal actions arising in the ordinary course of our business .', 'these legal actions cover a broad variety of claims spanning our entire business .', 'as of the date of this filing , we believe it is not reasonably possible that the resolution of these legal actions will , individually or in the aggregate , have a material adverse effect on our financial condition , results of operations or cash flows. .'] | 48.0 | PKG/2011/page_14.pdf-1 | ['item 1b .', 'unresolved staff comments item 2 .', 'properties the table below provides a summary of our containerboard mills , the principal products produced and each mill 2019s year-end 2011 annual practical maximum capacity based upon all of our paper machines 2019 production capabilities , as reported to the af&pa : location function capacity ( tons ) counce , tn .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', 'kraft linerboard mill 1043000 valdosta , ga .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', 'kraft linerboard mill 556000 tomahawk , wi .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', 'semi-chemical medium mill 538000 filer city , mi .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', 'semi-chemical medium mill 438000 .'] | ['we currently own our four containerboard mills and 44 of our corrugated manufacturing operations ( 37 corrugated plants and seven sheet plants ) .', 'we also own one warehouse and miscellaneous other property , which includes sales offices and woodlands management offices .', 'these sales offices and woodlands management offices generally have one to four employees and serve as administrative offices .', 'pca leases the space for four corrugated plants , 23 sheet plants , six regional design centers , and numerous other distribution centers , warehouses and facilities .', 'the equipment in these leased facilities is , in virtually all cases , owned by pca , except for forklifts and other rolling stock which are generally leased .', 'we lease the cutting rights to approximately 88000 acres of timberland located near our valdosta mill ( 77000 acres ) and our counce mill ( 11000 acres ) .', 'on average , these cutting rights agreements have terms with approximately 12 years remaining .', 'our corporate headquarters is located in lake forest , illinois .', 'the headquarters facility is leased for the next ten years with provisions for two additional five year lease extensions .', 'item 3 .', 'legal proceedings during september and october 2010 , pca and eight other u.s .', 'and canadian containerboard producers were named as defendants in five purported class action lawsuits filed in the united states district court for the northern district of illinois , alleging violations of the sherman act .', 'the lawsuits have been consolidated in a single complaint under the caption kleen products llc v packaging corp .', 'of america et al .', 'the consolidated complaint alleges that the defendants conspired to limit the supply of containerboard , and that the purpose and effect of the alleged conspiracy was to artificially increase prices of containerboard products during the period from august 2005 to the time of filing of the complaints .', 'the complaint was filed as a purported class action suit on behalf of all purchasers of containerboard products during such period .', 'the complaint seeks treble damages and costs , including attorney 2019s fees .', 'the defendants 2019 motions to dismiss the complaint were denied by the court in april 2011 .', 'pca believes the allegations are without merit and will defend this lawsuit vigorously .', 'however , as the lawsuit is in the early stages of discovery , pca is unable to predict the ultimate outcome or estimate a range of reasonably possible losses .', 'pca is a party to various other legal actions arising in the ordinary course of our business .', 'these legal actions cover a broad variety of claims spanning our entire business .', 'as of the date of this filing , we believe it is not reasonably possible that the resolution of these legal actions will , individually or in the aggregate , have a material adverse effect on our financial condition , results of operations or cash flows. .'] | location function kraft linerboard mill kraft linerboard mill semi-chemical medium mill semi-chemical medium mill capacity ( tons ) 1043000 556000 538000 438000
counce tn valdosta ga tomahawk wi
filer city mi filer city mi filer city mi
total 2575000 | add(const_4, 44) | 48.0 |
what was the greatest gross margin in millions for the three year period? | Context: ['net sales of the retail segment grew to $ 1.185 billion during 2004 from $ 621 million and $ 283 million , in 2003 and 2002 , respectively .', 'the increases in net sales during both 2004 and 2003 reflect the impact of new store openings for each fiscal year , including the opening of 21 new stores in 2004 and 25 new stores in 2003 .', 'an increase in average revenue per store also contributed to the segment 2019s strong sales in fiscal 2004 .', 'with an average of 76 stores open during 2004 , the retail segment achieved annualized revenue per store of approximately $ 15.6 million , as compared to $ 11.5 million in 2003 with a 54 store average and $ 10.2 million in 2002 with a 28 store average .', 'as measured by the company 2019s operating segment reporting , the retail segment reported profit of $ 39 million during fiscal 2004 as compared to losses of $ 5 million and $ 22 million during 2003 and 2002 , respectively .', 'this improvement is primarily attributable to the segment 2019s year-over-year increase in average quarterly revenue per store , the impact of opening new stores , and the segment 2019s year-over-year increase in net sales , which resulted in higher leverage on occupancy , depreciation and other fixed costs .', 'expansion of the retail segment has required and will continue to require a substantial investment in fixed assets and related infrastructure , operating lease commitments , personnel , and other operating expenses .', 'capital expenditures associated with the retail segment were $ 104 million in fiscal 2004 , bringing the total capital expenditures since inception of the retail segment to approximately $ 394 million .', 'as of september 25 , 2004 , the retail segment had approximately 2100 employees and had outstanding operating lease commitments associated with retail store space and related facilities of approximately $ 436 million .', 'the company would incur substantial costs should it choose to terminate its retail segment or close individual stores .', 'such costs could adversely affect the company 2019s results of operations and financial condition .', 'gross margin gross margin for the three fiscal years ended september 25 , 2004 are as follows ( in millions , except gross margin percentages ) : .']
####
Tabular Data:
****************************************
• , 2004, 2003, 2002
• net sales, $ 8279, $ 6207, $ 5742
• cost of sales, 6020, 4499, 4139
• gross margin, $ 2259, $ 1708, $ 1603
• gross margin percentage, 27.3% ( 27.3 % ), 27.5% ( 27.5 % ), 27.9% ( 27.9 % )
****************************************
####
Additional Information: ['gross margin declined in fiscal 2004 to 27.3% ( 27.3 % ) of net sales from 27.5% ( 27.5 % ) of net sales in 2003 .', 'the company 2019s gross margin during fiscal 2004 declined due to an increase in mix towards lower margin ipod and ibook sales , pricing actions on certain power macintosh g5 models that were transitioned during the beginning of 2004 , higher warranty costs on certain portable macintosh products , and higher freight and duty costs during fiscal 2004 .', 'these unfavorable factors were partially offset by an increase in direct sales and a 39% ( 39 % ) year-over-year increase in higher margin software sales .', 'the company anticipates that its gross margin and the gross margin of the overall personal computer and consumer electronics industries will remain under pressure throughout fiscal 2005 in light of price competition , especially for the ipod product line .', 'the company also expects to continue to incur air freight charges , which negatively impact gross margins on the imac and other products during the first quarter of 2005 and possibly beyond .', 'the foregoing statements regarding the company 2019s expected gross margin during 2005 , general demand for personal computers , anticipated air freight charges , and future economic conditions are forward- looking .', 'there can be no assurance that current gross margins will be maintained or targeted gross margin levels will be achieved .', 'in general , gross margins and margins on individual products , including ipods , will remain under significant downward pressure due to a variety of factors , including continued industry wide .'] | 2259.0 | AAPL/2004/page_36.pdf-1 | ['net sales of the retail segment grew to $ 1.185 billion during 2004 from $ 621 million and $ 283 million , in 2003 and 2002 , respectively .', 'the increases in net sales during both 2004 and 2003 reflect the impact of new store openings for each fiscal year , including the opening of 21 new stores in 2004 and 25 new stores in 2003 .', 'an increase in average revenue per store also contributed to the segment 2019s strong sales in fiscal 2004 .', 'with an average of 76 stores open during 2004 , the retail segment achieved annualized revenue per store of approximately $ 15.6 million , as compared to $ 11.5 million in 2003 with a 54 store average and $ 10.2 million in 2002 with a 28 store average .', 'as measured by the company 2019s operating segment reporting , the retail segment reported profit of $ 39 million during fiscal 2004 as compared to losses of $ 5 million and $ 22 million during 2003 and 2002 , respectively .', 'this improvement is primarily attributable to the segment 2019s year-over-year increase in average quarterly revenue per store , the impact of opening new stores , and the segment 2019s year-over-year increase in net sales , which resulted in higher leverage on occupancy , depreciation and other fixed costs .', 'expansion of the retail segment has required and will continue to require a substantial investment in fixed assets and related infrastructure , operating lease commitments , personnel , and other operating expenses .', 'capital expenditures associated with the retail segment were $ 104 million in fiscal 2004 , bringing the total capital expenditures since inception of the retail segment to approximately $ 394 million .', 'as of september 25 , 2004 , the retail segment had approximately 2100 employees and had outstanding operating lease commitments associated with retail store space and related facilities of approximately $ 436 million .', 'the company would incur substantial costs should it choose to terminate its retail segment or close individual stores .', 'such costs could adversely affect the company 2019s results of operations and financial condition .', 'gross margin gross margin for the three fiscal years ended september 25 , 2004 are as follows ( in millions , except gross margin percentages ) : .'] | ['gross margin declined in fiscal 2004 to 27.3% ( 27.3 % ) of net sales from 27.5% ( 27.5 % ) of net sales in 2003 .', 'the company 2019s gross margin during fiscal 2004 declined due to an increase in mix towards lower margin ipod and ibook sales , pricing actions on certain power macintosh g5 models that were transitioned during the beginning of 2004 , higher warranty costs on certain portable macintosh products , and higher freight and duty costs during fiscal 2004 .', 'these unfavorable factors were partially offset by an increase in direct sales and a 39% ( 39 % ) year-over-year increase in higher margin software sales .', 'the company anticipates that its gross margin and the gross margin of the overall personal computer and consumer electronics industries will remain under pressure throughout fiscal 2005 in light of price competition , especially for the ipod product line .', 'the company also expects to continue to incur air freight charges , which negatively impact gross margins on the imac and other products during the first quarter of 2005 and possibly beyond .', 'the foregoing statements regarding the company 2019s expected gross margin during 2005 , general demand for personal computers , anticipated air freight charges , and future economic conditions are forward- looking .', 'there can be no assurance that current gross margins will be maintained or targeted gross margin levels will be achieved .', 'in general , gross margins and margins on individual products , including ipods , will remain under significant downward pressure due to a variety of factors , including continued industry wide .'] | ****************************************
• , 2004, 2003, 2002
• net sales, $ 8279, $ 6207, $ 5742
• cost of sales, 6020, 4499, 4139
• gross margin, $ 2259, $ 1708, $ 1603
• gross margin percentage, 27.3% ( 27.3 % ), 27.5% ( 27.5 % ), 27.9% ( 27.9 % )
**************************************** | table_max(gross margin, none) | 2259.0 |
how many years does the irs have under examination? | Background: ['as of september 24 , 2011 , the total amount of gross unrecognized tax benefits was $ 1.4 billion , of which $ 563 million , if recognized , would affect the company 2019s effective tax rate .', 'as of september 25 , 2010 , the total amount of gross unrecognized tax benefits was $ 943 million , of which $ 404 million , if recognized , would affect the company 2019s effective tax rate .', 'the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for the three years ended september 24 , 2011 , is as follows ( in millions ) : .']
########
Table:
Row 1: , 2011, 2010, 2009
Row 2: beginning balance, $ 943, 971, $ 506
Row 3: increases related to tax positions taken during a prior year, 49, 61, 341
Row 4: decreases related to tax positions taken during a prior year, -39 ( 39 ), -224 ( 224 ), -24 ( 24 )
Row 5: increases related to tax positions taken during the current year, 425, 240, 151
Row 6: decreases related to settlements with taxing authorities, 0, -102 ( 102 ), 0
Row 7: decreases related to expiration of statute of limitations, -3 ( 3 ), -3 ( 3 ), -3 ( 3 )
Row 8: ending balance, $ 1375, $ 943, $ 971
########
Post-table: ['the company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes .', 'as of september 24 , 2011 and september 25 , 2010 , the total amount of gross interest and penalties accrued was $ 261 million and $ 247 million , respectively , which is classified as non-current liabilities in the consolidated balance sheets .', 'in connection with tax matters , the company recognized interest expense in 2011 and 2009 of $ 14 million and $ 64 million , respectively , and in 2010 the company recognized an interest benefit of $ 43 million .', 'the company is subject to taxation and files income tax returns in the u.s .', 'federal jurisdiction and in many state and foreign jurisdictions .', 'for u.s .', 'federal income tax purposes , all years prior to 2004 are closed .', 'the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments .', 'the company has contested certain of these adjustments through the irs appeals office .', 'the irs is currently examining the years 2007 through 2009 .', 'in addition , the company is also subject to audits by state , local and foreign tax authorities .', 'in major states and major foreign jurisdictions , the years subsequent to 1988 and 2001 , respectively , generally remain open and could be subject to examination by the taxing authorities .', 'management believes that an adequate provision has been made for any adjustments that may result from tax examinations .', 'however , the outcome of tax audits cannot be predicted with certainty .', 'if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs .', 'although timing of the resolution and/or closure of audits is not certain , the company does not believe it is reasonably possible that its unrecognized tax benefits would materially change in the next 12 months .', 'note 6 2013 shareholders 2019 equity and share-based compensation preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding .', 'under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock .', 'comprehensive income comprehensive income consists of two components , net income and other comprehensive income .', 'other comprehensive income refers to revenue , expenses , gains and losses that under gaap are recorded as an element .'] | 3.0 | AAPL/2011/page_65.pdf-4 | ['as of september 24 , 2011 , the total amount of gross unrecognized tax benefits was $ 1.4 billion , of which $ 563 million , if recognized , would affect the company 2019s effective tax rate .', 'as of september 25 , 2010 , the total amount of gross unrecognized tax benefits was $ 943 million , of which $ 404 million , if recognized , would affect the company 2019s effective tax rate .', 'the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for the three years ended september 24 , 2011 , is as follows ( in millions ) : .'] | ['the company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes .', 'as of september 24 , 2011 and september 25 , 2010 , the total amount of gross interest and penalties accrued was $ 261 million and $ 247 million , respectively , which is classified as non-current liabilities in the consolidated balance sheets .', 'in connection with tax matters , the company recognized interest expense in 2011 and 2009 of $ 14 million and $ 64 million , respectively , and in 2010 the company recognized an interest benefit of $ 43 million .', 'the company is subject to taxation and files income tax returns in the u.s .', 'federal jurisdiction and in many state and foreign jurisdictions .', 'for u.s .', 'federal income tax purposes , all years prior to 2004 are closed .', 'the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments .', 'the company has contested certain of these adjustments through the irs appeals office .', 'the irs is currently examining the years 2007 through 2009 .', 'in addition , the company is also subject to audits by state , local and foreign tax authorities .', 'in major states and major foreign jurisdictions , the years subsequent to 1988 and 2001 , respectively , generally remain open and could be subject to examination by the taxing authorities .', 'management believes that an adequate provision has been made for any adjustments that may result from tax examinations .', 'however , the outcome of tax audits cannot be predicted with certainty .', 'if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs .', 'although timing of the resolution and/or closure of audits is not certain , the company does not believe it is reasonably possible that its unrecognized tax benefits would materially change in the next 12 months .', 'note 6 2013 shareholders 2019 equity and share-based compensation preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding .', 'under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock .', 'comprehensive income comprehensive income consists of two components , net income and other comprehensive income .', 'other comprehensive income refers to revenue , expenses , gains and losses that under gaap are recorded as an element .'] | Row 1: , 2011, 2010, 2009
Row 2: beginning balance, $ 943, 971, $ 506
Row 3: increases related to tax positions taken during a prior year, 49, 61, 341
Row 4: decreases related to tax positions taken during a prior year, -39 ( 39 ), -224 ( 224 ), -24 ( 24 )
Row 5: increases related to tax positions taken during the current year, 425, 240, 151
Row 6: decreases related to settlements with taxing authorities, 0, -102 ( 102 ), 0
Row 7: decreases related to expiration of statute of limitations, -3 ( 3 ), -3 ( 3 ), -3 ( 3 )
Row 8: ending balance, $ 1375, $ 943, $ 971 | subtract(2009, 2006) | 3.0 |
how long is the weighted- average useful lives of other assets , as a percent of software in the engineered products and solutions segment? | Pre-text: ['discounted cash flow model ( dcf ) to estimate the current fair value of its reporting units when testing for impairment , as management believes forecasted cash flows are the best indicator of such fair value .', 'a number of significant assumptions and estimates are involved in the application of the dcf model to forecast operating cash flows , including sales growth ( volumes and pricing ) , production costs , capital spending , and discount rate .', 'most of these assumptions vary significantly among the reporting units .', 'cash flow forecasts are generally based on approved business unit operating plans for the early years and historical relationships in later years .', 'the wacc rate for the individual reporting units is estimated with the assistance of valuation experts .', 'arconic would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit 2019s fair value without exceeding the total amount of goodwill allocated to that reporting unit .', 'in connection with the interim impairment evaluation of long-lived assets for the disks operations ( an asset group within the aen business unit ) in the second quarter of 2018 , which resulted from a decline in forecasted financial performance for the business in connection with its updated three-year strategic plan , the company also performed an interim impairment evaluation of goodwill for the aen reporting unit .', 'the estimated fair value of the reporting unit was substantially in excess of the carrying value ; thus , there was no impairment of goodwill .', 'goodwill impairment tests in 2017 and 2016 indicated that goodwill was not impaired for any of the company 2019s reporting units , except for the arconic forgings and extrusions ( afe ) business whose estimated fair value was lower than its carrying value .', 'as such , arconic recorded an impairment for the full amount of goodwill in the afe reporting unit of $ 719 .', 'the decrease in the afe fair value was primarily due to unfavorable performance that was impacting operating margins and a higher discount rate due to an increase in the risk-free rate of return , while the carrying value increased compared to prior year .', 'other intangible assets .', 'intangible assets with indefinite useful lives are not amortized while intangible assets with finite useful lives are amortized generally on a straight-line basis over the periods benefited .', 'the following table details the weighted- average useful lives of software and other intangible assets by reporting segment ( numbers in years ) : .']
------
Tabular Data:
****************************************
| software | other intangible assets
----------|----------|----------
engineered products and solutions | 5 | 33
global rolled products | 5 | 9
transportation and construction solutions | 5 | 16
****************************************
------
Post-table: ['revenue recognition .', "the company's contracts with customers are comprised of acknowledged purchase orders incorporating the company 2019s standard terms and conditions , or for larger customers , may also generally include terms under negotiated multi-year agreements .", 'these contracts with customers typically consist of the manufacture of products which represent single performance obligations that are satisfied upon transfer of control of the product to the customer .', 'the company produces fastening systems ; seamless rolled rings ; investment castings , including airfoils and forged jet engine components ; extruded , machined and formed aircraft parts ; aluminum sheet and plate ; integrated aluminum structural systems ; architectural extrusions ; and forged aluminum commercial vehicle wheels .', 'transfer of control is assessed based on alternative use of the products we produce and our enforceable right to payment for performance to date under the contract terms .', 'transfer of control and revenue recognition generally occur upon shipment or delivery of the product , which is when title , ownership and risk of loss pass to the customer and is based on the applicable shipping terms .', 'the shipping terms vary across all businesses and depend on the product , the country of origin , and the type of transportation ( truck , train , or vessel ) .', 'an invoice for payment is issued at time of shipment .', 'the company 2019s objective is to have net 30-day terms .', 'our business units set commercial terms on which arconic sells products to its customers .', 'these terms are influenced by industry custom , market conditions , product line ( specialty versus commodity products ) , and other considerations .', 'in certain circumstances , arconic receives advanced payments from its customers for product to be delivered in future periods .', 'these advanced payments are recorded as deferred revenue until the product is delivered and title and risk of loss have passed to the customer in accordance with the terms of the contract .', 'deferred revenue is included in other current liabilities and other noncurrent liabilities and deferred credits on the accompanying consolidated balance sheet .', 'environmental matters .', 'expenditures for current operations are expensed or capitalized , as appropriate .', 'expenditures relating to existing conditions caused by past operations , which will not contribute to future revenues , are expensed .', 'liabilities are recorded when remediation costs are probable and can be reasonably estimated .', 'the liability may include costs such as site investigations , consultant fees , feasibility studies , outside contractors , and monitoring expenses .', 'estimates are generally not discounted or reduced by potential claims for recovery .', 'claims for recovery are recognized when probable and as agreements are reached with third parties .', 'the estimates also include costs related to other potentially responsible parties to the extent that arconic has reason to believe such parties will not fully pay their proportionate share .', 'the liability is continuously reviewed and adjusted to reflect current remediation progress , prospective estimates of required activity , and other factors that may be relevant , including changes in technology or regulations .', 'litigation matters .', 'for asserted claims and assessments , liabilities are recorded when an unfavorable outcome of a matter is .'] | 560.0 | HWM/2018/page_69.pdf-2 | ['discounted cash flow model ( dcf ) to estimate the current fair value of its reporting units when testing for impairment , as management believes forecasted cash flows are the best indicator of such fair value .', 'a number of significant assumptions and estimates are involved in the application of the dcf model to forecast operating cash flows , including sales growth ( volumes and pricing ) , production costs , capital spending , and discount rate .', 'most of these assumptions vary significantly among the reporting units .', 'cash flow forecasts are generally based on approved business unit operating plans for the early years and historical relationships in later years .', 'the wacc rate for the individual reporting units is estimated with the assistance of valuation experts .', 'arconic would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit 2019s fair value without exceeding the total amount of goodwill allocated to that reporting unit .', 'in connection with the interim impairment evaluation of long-lived assets for the disks operations ( an asset group within the aen business unit ) in the second quarter of 2018 , which resulted from a decline in forecasted financial performance for the business in connection with its updated three-year strategic plan , the company also performed an interim impairment evaluation of goodwill for the aen reporting unit .', 'the estimated fair value of the reporting unit was substantially in excess of the carrying value ; thus , there was no impairment of goodwill .', 'goodwill impairment tests in 2017 and 2016 indicated that goodwill was not impaired for any of the company 2019s reporting units , except for the arconic forgings and extrusions ( afe ) business whose estimated fair value was lower than its carrying value .', 'as such , arconic recorded an impairment for the full amount of goodwill in the afe reporting unit of $ 719 .', 'the decrease in the afe fair value was primarily due to unfavorable performance that was impacting operating margins and a higher discount rate due to an increase in the risk-free rate of return , while the carrying value increased compared to prior year .', 'other intangible assets .', 'intangible assets with indefinite useful lives are not amortized while intangible assets with finite useful lives are amortized generally on a straight-line basis over the periods benefited .', 'the following table details the weighted- average useful lives of software and other intangible assets by reporting segment ( numbers in years ) : .'] | ['revenue recognition .', "the company's contracts with customers are comprised of acknowledged purchase orders incorporating the company 2019s standard terms and conditions , or for larger customers , may also generally include terms under negotiated multi-year agreements .", 'these contracts with customers typically consist of the manufacture of products which represent single performance obligations that are satisfied upon transfer of control of the product to the customer .', 'the company produces fastening systems ; seamless rolled rings ; investment castings , including airfoils and forged jet engine components ; extruded , machined and formed aircraft parts ; aluminum sheet and plate ; integrated aluminum structural systems ; architectural extrusions ; and forged aluminum commercial vehicle wheels .', 'transfer of control is assessed based on alternative use of the products we produce and our enforceable right to payment for performance to date under the contract terms .', 'transfer of control and revenue recognition generally occur upon shipment or delivery of the product , which is when title , ownership and risk of loss pass to the customer and is based on the applicable shipping terms .', 'the shipping terms vary across all businesses and depend on the product , the country of origin , and the type of transportation ( truck , train , or vessel ) .', 'an invoice for payment is issued at time of shipment .', 'the company 2019s objective is to have net 30-day terms .', 'our business units set commercial terms on which arconic sells products to its customers .', 'these terms are influenced by industry custom , market conditions , product line ( specialty versus commodity products ) , and other considerations .', 'in certain circumstances , arconic receives advanced payments from its customers for product to be delivered in future periods .', 'these advanced payments are recorded as deferred revenue until the product is delivered and title and risk of loss have passed to the customer in accordance with the terms of the contract .', 'deferred revenue is included in other current liabilities and other noncurrent liabilities and deferred credits on the accompanying consolidated balance sheet .', 'environmental matters .', 'expenditures for current operations are expensed or capitalized , as appropriate .', 'expenditures relating to existing conditions caused by past operations , which will not contribute to future revenues , are expensed .', 'liabilities are recorded when remediation costs are probable and can be reasonably estimated .', 'the liability may include costs such as site investigations , consultant fees , feasibility studies , outside contractors , and monitoring expenses .', 'estimates are generally not discounted or reduced by potential claims for recovery .', 'claims for recovery are recognized when probable and as agreements are reached with third parties .', 'the estimates also include costs related to other potentially responsible parties to the extent that arconic has reason to believe such parties will not fully pay their proportionate share .', 'the liability is continuously reviewed and adjusted to reflect current remediation progress , prospective estimates of required activity , and other factors that may be relevant , including changes in technology or regulations .', 'litigation matters .', 'for asserted claims and assessments , liabilities are recorded when an unfavorable outcome of a matter is .'] | ****************************************
| software | other intangible assets
----------|----------|----------
engineered products and solutions | 5 | 33
global rolled products | 5 | 9
transportation and construction solutions | 5 | 16
**************************************** | divide(33, 5), multiply(#0, const_100), subtract(#1, const_100) | 560.0 |
in 2008 what was the percentage increased in the mezzanine capital facility | Context: ['application of specific accounting literature .', 'for the nonconsolidated proprietary tob trusts and qspe tob trusts , the company recognizes only its residual investment on its balance sheet at fair value and the third-party financing raised by the trusts is off-balance sheet .', 'the following table summarizes selected cash flow information related to municipal bond securitizations for the years 2008 , 2007 and 2006 : in billions of dollars 2008 2007 2006 .']
Tabular Data:
Row 1: in billions of dollars, 2008, 2007, 2006
Row 2: proceeds from new securitizations, $ 1.2, $ 10.5, 2014
Row 3: cash flows received on retained interests and other net cash flows, 0.5, 2014, 2014
Post-table: ['cash flows received on retained interests and other net cash flows 0.5 2014 2014 municipal investments municipal investment transactions represent partnerships that finance the construction and rehabilitation of low-income affordable rental housing .', 'the company generally invests in these partnerships as a limited partner and earns a return primarily through the receipt of tax credits earned from the affordable housing investments made by the partnership .', 'client intermediation client intermediation transactions represent a range of transactions designed to provide investors with specified returns based on the returns of an underlying security , referenced asset or index .', 'these transactions include credit-linked notes and equity-linked notes .', 'in these transactions , the spe typically obtains exposure to the underlying security , referenced asset or index through a derivative instrument , such as a total-return swap or a credit-default swap .', 'in turn the spe issues notes to investors that pay a return based on the specified underlying security , referenced asset or index .', 'the spe invests the proceeds in a financial asset or a guaranteed insurance contract ( gic ) that serves as collateral for the derivative contract over the term of the transaction .', 'the company 2019s involvement in these transactions includes being the counterparty to the spe 2019s derivative instruments and investing in a portion of the notes issued by the spe .', 'in certain transactions , the investor 2019s maximum risk of loss is limited and the company absorbs risk of loss above a specified level .', 'the company 2019s maximum risk of loss in these transactions is defined as the amount invested in notes issued by the spe and the notional amount of any risk of loss absorbed by the company through a separate instrument issued by the spe .', 'the derivative instrument held by the company may generate a receivable from the spe ( for example , where the company purchases credit protection from the spe in connection with the spe 2019s issuance of a credit-linked note ) , which is collateralized by the assets owned by the spe .', 'these derivative instruments are not considered variable interests under fin 46 ( r ) and any associated receivables are not included in the calculation of maximum exposure to the spe .', 'structured investment vehicles structured investment vehicles ( sivs ) are spes that issue junior notes and senior debt ( medium-term notes and short-term commercial paper ) to fund the purchase of high quality assets .', 'the junior notes are subject to the 201cfirst loss 201d risk of the sivs .', 'the sivs provide a variable return to the junior note investors based on the net spread between the cost to issue the senior debt and the return realized by the high quality assets .', 'the company acts as manager for the sivs and , prior to december 13 , 2007 , was not contractually obligated to provide liquidity facilities or guarantees to the sivs .', 'in response to the ratings review of the outstanding senior debt of the sivs for a possible downgrade announced by two ratings agencies and the continued reduction of liquidity in the siv-related asset-backed commercial paper and medium-term note markets , on december 13 , 2007 , citigroup announced its commitment to provide support facilities that would support the sivs 2019 senior debt ratings .', 'as a result of this commitment , citigroup became the sivs 2019 primary beneficiary and began consolidating these entities .', 'on february 12 , 2008 , citigroup finalized the terms of the support facilities , which took the form of a commitment to provide $ 3.5 billion of mezzanine capital to the sivs in the event the market value of their junior notes approaches zero .', 'the mezzanine capital facility was increased by $ 1 billion to $ 4.5 billion , with the additional commitment funded during the fourth quarter of 2008 .', 'the facilities rank senior to the junior notes but junior to the commercial paper and medium-term notes .', 'the facilities were at arm 2019s-length terms .', 'interest was paid on the drawn amount of the facilities and a per annum fee was paid on the unused portion .', 'during the period to november 18 , 2008 , the company wrote down $ 3.3 billion on siv assets .', 'in order to complete the wind-down of the sivs , the company , in a nearly cashless transaction , purchased the remaining assets of the sivs at fair value , with a trade date of november 18 , 2008 .', 'the company funded the purchase of the siv assets by assuming the obligation to pay amounts due under the medium-term notes issued by the sivs , as the medium-term notes mature .', 'the net funding provided by the company to fund the purchase of the siv assets was $ 0.3 billion .', 'as of december 31 , 2008 , the carrying amount of the purchased siv assets was $ 16.6 billion , of which $ 16.5 billion is classified as htm assets .', 'investment funds the company is the investment manager for certain investment funds that invest in various asset classes including private equity , hedge funds , real estate , fixed income and infrastructure .', 'the company earns a management fee , which is a percentage of capital under management , and may earn performance fees .', 'in addition , for some of these funds the company has an ownership interest in the investment funds .', 'the company has also established a number of investment funds as opportunities for qualified employees to invest in private equity investments .', 'the company acts as investment manager to these funds and may provide employees with financing on both a recourse and non-recourse basis for a portion of the employees 2019 investment commitments. .'] | 0.28571 | C/2008/page_193.pdf-3 | ['application of specific accounting literature .', 'for the nonconsolidated proprietary tob trusts and qspe tob trusts , the company recognizes only its residual investment on its balance sheet at fair value and the third-party financing raised by the trusts is off-balance sheet .', 'the following table summarizes selected cash flow information related to municipal bond securitizations for the years 2008 , 2007 and 2006 : in billions of dollars 2008 2007 2006 .'] | ['cash flows received on retained interests and other net cash flows 0.5 2014 2014 municipal investments municipal investment transactions represent partnerships that finance the construction and rehabilitation of low-income affordable rental housing .', 'the company generally invests in these partnerships as a limited partner and earns a return primarily through the receipt of tax credits earned from the affordable housing investments made by the partnership .', 'client intermediation client intermediation transactions represent a range of transactions designed to provide investors with specified returns based on the returns of an underlying security , referenced asset or index .', 'these transactions include credit-linked notes and equity-linked notes .', 'in these transactions , the spe typically obtains exposure to the underlying security , referenced asset or index through a derivative instrument , such as a total-return swap or a credit-default swap .', 'in turn the spe issues notes to investors that pay a return based on the specified underlying security , referenced asset or index .', 'the spe invests the proceeds in a financial asset or a guaranteed insurance contract ( gic ) that serves as collateral for the derivative contract over the term of the transaction .', 'the company 2019s involvement in these transactions includes being the counterparty to the spe 2019s derivative instruments and investing in a portion of the notes issued by the spe .', 'in certain transactions , the investor 2019s maximum risk of loss is limited and the company absorbs risk of loss above a specified level .', 'the company 2019s maximum risk of loss in these transactions is defined as the amount invested in notes issued by the spe and the notional amount of any risk of loss absorbed by the company through a separate instrument issued by the spe .', 'the derivative instrument held by the company may generate a receivable from the spe ( for example , where the company purchases credit protection from the spe in connection with the spe 2019s issuance of a credit-linked note ) , which is collateralized by the assets owned by the spe .', 'these derivative instruments are not considered variable interests under fin 46 ( r ) and any associated receivables are not included in the calculation of maximum exposure to the spe .', 'structured investment vehicles structured investment vehicles ( sivs ) are spes that issue junior notes and senior debt ( medium-term notes and short-term commercial paper ) to fund the purchase of high quality assets .', 'the junior notes are subject to the 201cfirst loss 201d risk of the sivs .', 'the sivs provide a variable return to the junior note investors based on the net spread between the cost to issue the senior debt and the return realized by the high quality assets .', 'the company acts as manager for the sivs and , prior to december 13 , 2007 , was not contractually obligated to provide liquidity facilities or guarantees to the sivs .', 'in response to the ratings review of the outstanding senior debt of the sivs for a possible downgrade announced by two ratings agencies and the continued reduction of liquidity in the siv-related asset-backed commercial paper and medium-term note markets , on december 13 , 2007 , citigroup announced its commitment to provide support facilities that would support the sivs 2019 senior debt ratings .', 'as a result of this commitment , citigroup became the sivs 2019 primary beneficiary and began consolidating these entities .', 'on february 12 , 2008 , citigroup finalized the terms of the support facilities , which took the form of a commitment to provide $ 3.5 billion of mezzanine capital to the sivs in the event the market value of their junior notes approaches zero .', 'the mezzanine capital facility was increased by $ 1 billion to $ 4.5 billion , with the additional commitment funded during the fourth quarter of 2008 .', 'the facilities rank senior to the junior notes but junior to the commercial paper and medium-term notes .', 'the facilities were at arm 2019s-length terms .', 'interest was paid on the drawn amount of the facilities and a per annum fee was paid on the unused portion .', 'during the period to november 18 , 2008 , the company wrote down $ 3.3 billion on siv assets .', 'in order to complete the wind-down of the sivs , the company , in a nearly cashless transaction , purchased the remaining assets of the sivs at fair value , with a trade date of november 18 , 2008 .', 'the company funded the purchase of the siv assets by assuming the obligation to pay amounts due under the medium-term notes issued by the sivs , as the medium-term notes mature .', 'the net funding provided by the company to fund the purchase of the siv assets was $ 0.3 billion .', 'as of december 31 , 2008 , the carrying amount of the purchased siv assets was $ 16.6 billion , of which $ 16.5 billion is classified as htm assets .', 'investment funds the company is the investment manager for certain investment funds that invest in various asset classes including private equity , hedge funds , real estate , fixed income and infrastructure .', 'the company earns a management fee , which is a percentage of capital under management , and may earn performance fees .', 'in addition , for some of these funds the company has an ownership interest in the investment funds .', 'the company has also established a number of investment funds as opportunities for qualified employees to invest in private equity investments .', 'the company acts as investment manager to these funds and may provide employees with financing on both a recourse and non-recourse basis for a portion of the employees 2019 investment commitments. .'] | Row 1: in billions of dollars, 2008, 2007, 2006
Row 2: proceeds from new securitizations, $ 1.2, $ 10.5, 2014
Row 3: cash flows received on retained interests and other net cash flows, 0.5, 2014, 2014 | subtract(4.5, 1), divide(1, #0) | 0.28571 |
what is the expected dividend per share for former cybersource employees in 2010? | Context: ['visa inc .', 'notes to consolidated financial statements 2014 ( continued ) september 30 , 2012 acquired by the company .', 'the eip will continue to be in effect until all of the common stock available under the eip is delivered and all restrictions on those shares have lapsed , unless the eip is terminated earlier by the company 2019s board of directors .', 'no awards may be granted under the plan on or after 10 years from its effective date .', 'share-based compensation cost is recorded net of estimated forfeitures on a straight-line basis for awards with service conditions only , and on a graded-vesting basis for awards with service , performance and market conditions .', 'the company 2019s estimated forfeiture rate is based on an evaluation of historical , actual and trended forfeiture data .', 'for fiscal 2012 , 2011 , and 2010 , the company recorded share-based compensation cost of $ 147 million , $ 154 million and $ 135 million , respectively , in personnel on its consolidated statements of operations .', 'the amount of capitalized share-based compensation cost was immaterial during fiscal 2012 , 2011 , and 2010 .', 'options options issued under the eip expire 10 years from the date of grant and vest ratably over three years from the date of grant , subject to earlier vesting in full under certain conditions .', 'during fiscal 2012 , 2011 and 2010 , the fair value of each stock option was estimated on the date of grant using a black-scholes option pricing model with the following weighted-average assumptions : 2012 2011 2010 ( 1 ) expected term ( in years ) ( 2 ) .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '6.02 5.16 3.46 risk-free rate of return ( 3 ) .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '1.2% ( 1.2 % ) 1.2% ( 1.2 % ) 1.4% ( 1.4 % ) expected volatility ( 4 ) .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '34.9% ( 34.9 % ) 33.4% ( 33.4 % ) 36.4% ( 36.4 % ) expected dividend yield ( 5 ) .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '0.9% ( 0.9 % ) 0.8% ( 0.8 % ) 0.7% ( 0.7 % ) .']
######
Table:
----------------------------------------
Row 1: , 2012, 2011, 2010 ( 1 )
Row 2: expected term ( in years ) ( 2 ), 6.02, 5.16, 3.46
Row 3: risk-free rate of return ( 3 ), 1.2% ( 1.2 % ), 1.2% ( 1.2 % ), 1.4% ( 1.4 % )
Row 4: expected volatility ( 4 ), 34.9% ( 34.9 % ), 33.4% ( 33.4 % ), 36.4% ( 36.4 % )
Row 5: expected dividend yield ( 5 ), 0.9% ( 0.9 % ), 0.8% ( 0.8 % ), 0.7% ( 0.7 % )
Row 6: fair value per option granted, $ 29.65, $ 27.50, $ 29.46
----------------------------------------
######
Additional Information: ['( 1 ) includes the impact of 1.6 million replacement awards issued to former cybersource employees as part of the cybersource acquisition in july 2010 .', 'these awards have a weighted-average exercise price of $ 47.34 per share and vest over a period of less than three years from the replacement grant date .', '( 2 ) based on a set of peer companies that management believes is generally comparable to visa .', '( 3 ) based upon the zero coupon u.s .', 'treasury bond rate over the expected term of the awards .', '( 4 ) based on the average of the company 2019s implied and historical volatility .', 'as the company 2019s publicly traded stock history is relatively short , historical volatility relies in part on the historical volatility of a group of peer companies that management believes is generally comparable to visa .', 'the expected volatilities ranged from 31% ( 31 % ) to 35% ( 35 % ) in fiscal 2012 .', '( 5 ) based on the company 2019s annual dividend rate on the date of grant. .'] | 0.33138 | V/2012/page_123.pdf-2 | ['visa inc .', 'notes to consolidated financial statements 2014 ( continued ) september 30 , 2012 acquired by the company .', 'the eip will continue to be in effect until all of the common stock available under the eip is delivered and all restrictions on those shares have lapsed , unless the eip is terminated earlier by the company 2019s board of directors .', 'no awards may be granted under the plan on or after 10 years from its effective date .', 'share-based compensation cost is recorded net of estimated forfeitures on a straight-line basis for awards with service conditions only , and on a graded-vesting basis for awards with service , performance and market conditions .', 'the company 2019s estimated forfeiture rate is based on an evaluation of historical , actual and trended forfeiture data .', 'for fiscal 2012 , 2011 , and 2010 , the company recorded share-based compensation cost of $ 147 million , $ 154 million and $ 135 million , respectively , in personnel on its consolidated statements of operations .', 'the amount of capitalized share-based compensation cost was immaterial during fiscal 2012 , 2011 , and 2010 .', 'options options issued under the eip expire 10 years from the date of grant and vest ratably over three years from the date of grant , subject to earlier vesting in full under certain conditions .', 'during fiscal 2012 , 2011 and 2010 , the fair value of each stock option was estimated on the date of grant using a black-scholes option pricing model with the following weighted-average assumptions : 2012 2011 2010 ( 1 ) expected term ( in years ) ( 2 ) .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '6.02 5.16 3.46 risk-free rate of return ( 3 ) .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '1.2% ( 1.2 % ) 1.2% ( 1.2 % ) 1.4% ( 1.4 % ) expected volatility ( 4 ) .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '34.9% ( 34.9 % ) 33.4% ( 33.4 % ) 36.4% ( 36.4 % ) expected dividend yield ( 5 ) .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '0.9% ( 0.9 % ) 0.8% ( 0.8 % ) 0.7% ( 0.7 % ) .'] | ['( 1 ) includes the impact of 1.6 million replacement awards issued to former cybersource employees as part of the cybersource acquisition in july 2010 .', 'these awards have a weighted-average exercise price of $ 47.34 per share and vest over a period of less than three years from the replacement grant date .', '( 2 ) based on a set of peer companies that management believes is generally comparable to visa .', '( 3 ) based upon the zero coupon u.s .', 'treasury bond rate over the expected term of the awards .', '( 4 ) based on the average of the company 2019s implied and historical volatility .', 'as the company 2019s publicly traded stock history is relatively short , historical volatility relies in part on the historical volatility of a group of peer companies that management believes is generally comparable to visa .', 'the expected volatilities ranged from 31% ( 31 % ) to 35% ( 35 % ) in fiscal 2012 .', '( 5 ) based on the company 2019s annual dividend rate on the date of grant. .'] | ----------------------------------------
Row 1: , 2012, 2011, 2010 ( 1 )
Row 2: expected term ( in years ) ( 2 ), 6.02, 5.16, 3.46
Row 3: risk-free rate of return ( 3 ), 1.2% ( 1.2 % ), 1.2% ( 1.2 % ), 1.4% ( 1.4 % )
Row 4: expected volatility ( 4 ), 34.9% ( 34.9 % ), 33.4% ( 33.4 % ), 36.4% ( 36.4 % )
Row 5: expected dividend yield ( 5 ), 0.9% ( 0.9 % ), 0.8% ( 0.8 % ), 0.7% ( 0.7 % )
Row 6: fair value per option granted, $ 29.65, $ 27.50, $ 29.46
---------------------------------------- | multiply(47.34, 0.7%) | 0.33138 |
what was the ratio in the total tax expense from 2018 to 2017 | Context: ['the remaining change in other expense was driven primarily by changes on foreign currency exchange instruments as further discussed in note 7 in 201citem 8 .', 'financial statements and supplementary data 201d of this report .', 'income taxes .']
----
Data Table:
========================================
, 2018, 2017
current expense ( benefit ), $ -70 ( 70 ), $ 112
deferred expense ( benefit ), 226, -97 ( 97 )
total expense, $ 156, $ 15
effective income tax rate, 17% ( 17 % ), 2% ( 2 % )
========================================
----
Follow-up: ['for discussion on income taxes , see note 8 in 201citem 8 .', 'financial statements and supplementary data 201d of this report .', 'discontinued operations discontinued operations net earnings increased primarily due to the gain on the sale of our aggregate ownership interests in enlink and the general partner of $ 2.6 billion ( $ 2.2 billion after-tax ) .', 'for discussion on discontinued operations , see note 19 in 201citem 8 .', 'financial statements and supplementary data 201d of this report 201d of this report .', 'results of operations 2013 2017 vs .', '2016 the graph below shows the change in net earnings from 2016 to 2017 .', 'the material changes are further discussed by category on the following pages .', 'to facilitate the review , these numbers are being presented before consideration of earnings attributable to noncontrolling interests .', '$ 1308 ( $ 165 ) ( $ 4 ) $ 1 $ 63 $ 400 ( $ 397 ) $ 126 $ 1204 ( $ 1458 ) $ 1078 2016 upstream operations marketing operations exploration expenses dd&a g&a financing costs , net other ( 1 ) income discontinued operations net earnings ( 1 ) other in the table above includes asset impairments , asset dispositions , restructuring and transaction costs and other expenses .', 'the graph below presents the drivers of the upstream operations change presented above , with additional details and discussion of the drivers following the graph .', '( $ 427 ) ( $ 427 ) $ 1395$ 1 395 $ 2176$ 2 176 $ 3484 2016 production volumes field prices hedging 2017 upstream operations expenses .'] | 10.4 | DVN/2018/page_35.pdf-1 | ['the remaining change in other expense was driven primarily by changes on foreign currency exchange instruments as further discussed in note 7 in 201citem 8 .', 'financial statements and supplementary data 201d of this report .', 'income taxes .'] | ['for discussion on income taxes , see note 8 in 201citem 8 .', 'financial statements and supplementary data 201d of this report .', 'discontinued operations discontinued operations net earnings increased primarily due to the gain on the sale of our aggregate ownership interests in enlink and the general partner of $ 2.6 billion ( $ 2.2 billion after-tax ) .', 'for discussion on discontinued operations , see note 19 in 201citem 8 .', 'financial statements and supplementary data 201d of this report 201d of this report .', 'results of operations 2013 2017 vs .', '2016 the graph below shows the change in net earnings from 2016 to 2017 .', 'the material changes are further discussed by category on the following pages .', 'to facilitate the review , these numbers are being presented before consideration of earnings attributable to noncontrolling interests .', '$ 1308 ( $ 165 ) ( $ 4 ) $ 1 $ 63 $ 400 ( $ 397 ) $ 126 $ 1204 ( $ 1458 ) $ 1078 2016 upstream operations marketing operations exploration expenses dd&a g&a financing costs , net other ( 1 ) income discontinued operations net earnings ( 1 ) other in the table above includes asset impairments , asset dispositions , restructuring and transaction costs and other expenses .', 'the graph below presents the drivers of the upstream operations change presented above , with additional details and discussion of the drivers following the graph .', '( $ 427 ) ( $ 427 ) $ 1395$ 1 395 $ 2176$ 2 176 $ 3484 2016 production volumes field prices hedging 2017 upstream operations expenses .'] | ========================================
, 2018, 2017
current expense ( benefit ), $ -70 ( 70 ), $ 112
deferred expense ( benefit ), 226, -97 ( 97 )
total expense, $ 156, $ 15
effective income tax rate, 17% ( 17 % ), 2% ( 2 % )
======================================== | divide(156, 15) | 10.4 |
what percentage of entergy's total employees are employed in entergy mississippi? | Background: ['part i item 1 entergy corporation , utility operating companies , and system energy employment and labor-related proceedings ( entergy corporation , entergy arkansas , entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy new orleans , entergy texas , and system energy ) the registrant subsidiaries and other entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees .', 'generally , the amount of damages being sought is not specified in these proceedings .', 'these actions include , but are not limited to , allegations of wrongful employment actions ; wage disputes and other claims under the fair labor standards act or its state counterparts ; claims of race , gender and disability discrimination ; disputes arising under collective bargaining agreements ; unfair labor practice proceedings and other administrative proceedings before the national labor relations board ; claims of retaliation ; and claims for or regarding benefits under various entergy corporation sponsored plans .', 'entergy and the registrant subsidiaries are responding to these suits and proceedings and deny liability to the claimants .', "employees employees are an integral part of entergy's commitment to serving its customers .", 'as of december 31 , 2008 , entergy employed 14669 people .', 'utility: .']
##
Table:
========================================
• entergy arkansas, 1526
• entergy gulf states louisiana, 858
• entergy louisiana, 1008
• entergy mississippi, 828
• entergy new orleans, 378
• entergy texas, 744
• system energy, -
• entergy operations, 2448
• entergy services, 3179
• entergy nuclear operations, 3620
• other subsidiaries, 80
• total entergy, 14669
========================================
##
Additional Information: ['approximately 5000 employees are represented by the international brotherhood of electrical workers union , the utility workers union of america , the international brotherhood of teamsters union , and the united government security officers of america. .'] | 0.05645 | ETR/2008/page_249.pdf-2 | ['part i item 1 entergy corporation , utility operating companies , and system energy employment and labor-related proceedings ( entergy corporation , entergy arkansas , entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy new orleans , entergy texas , and system energy ) the registrant subsidiaries and other entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees .', 'generally , the amount of damages being sought is not specified in these proceedings .', 'these actions include , but are not limited to , allegations of wrongful employment actions ; wage disputes and other claims under the fair labor standards act or its state counterparts ; claims of race , gender and disability discrimination ; disputes arising under collective bargaining agreements ; unfair labor practice proceedings and other administrative proceedings before the national labor relations board ; claims of retaliation ; and claims for or regarding benefits under various entergy corporation sponsored plans .', 'entergy and the registrant subsidiaries are responding to these suits and proceedings and deny liability to the claimants .', "employees employees are an integral part of entergy's commitment to serving its customers .", 'as of december 31 , 2008 , entergy employed 14669 people .', 'utility: .'] | ['approximately 5000 employees are represented by the international brotherhood of electrical workers union , the utility workers union of america , the international brotherhood of teamsters union , and the united government security officers of america. .'] | ========================================
• entergy arkansas, 1526
• entergy gulf states louisiana, 858
• entergy louisiana, 1008
• entergy mississippi, 828
• entergy new orleans, 378
• entergy texas, 744
• system energy, -
• entergy operations, 2448
• entergy services, 3179
• entergy nuclear operations, 3620
• other subsidiaries, 80
• total entergy, 14669
======================================== | divide(828, 14669) | 0.05645 |
what percentage of refined product sales consisted of distillates in 2008? | Context: ['the following table sets forth our refined products sales by product group and our average sales price for each of the last three years .', 'refined product sales ( thousands of barrels per day ) 2009 2008 2007 .']
Tabular Data:
========================================
( thousands of barrels per day ), 2009, 2008, 2007
gasoline, 830, 756, 791
distillates, 357, 375, 377
propane, 23, 22, 23
feedstocks and special products, 75, 100, 103
heavy fuel oil, 24, 23, 29
asphalt, 69, 76, 87
total, 1378, 1352, 1410
average sales price ( dollars per barrel ), $ 70.86, $ 109.49, $ 86.53
========================================
Additional Information: ['we sell gasoline , gasoline blendstocks and no .', '1 and no .', '2 fuel oils ( including kerosene , jet fuel and diesel fuel ) to wholesale marketing customers in the midwest , upper great plains , gulf coast and southeastern regions of the united states .', 'we sold 51 percent of our gasoline volumes and 87 percent of our distillates volumes on a wholesale or spot market basis in 2009 .', 'the demand for gasoline is seasonal in many of our markets , with demand typically being at its highest levels during the summer months .', 'we have blended ethanol into gasoline for over 20 years and began expanding our blending program in 2007 , in part due to federal regulations that require us to use specified volumes of renewable fuels .', 'ethanol volumes sold in blended gasoline were 60 mbpd in 2009 , 54 mbpd in 2008 and 40 mbpd in 2007 .', 'the future expansion or contraction of our ethanol blending program will be driven by the economics of the ethanol supply and by government regulations .', 'we sell reformulated gasoline , which is also blended with ethanol , in parts of our marketing territory , including : chicago , illinois ; louisville , kentucky ; northern kentucky ; milwaukee , wisconsin , and hartford , illinois .', 'we also sell biodiesel-blended diesel in minnesota , illinois and kentucky .', 'we produce propane at all seven of our refineries .', 'propane is primarily used for home heating and cooking , as a feedstock within the petrochemical industry , for grain drying and as a fuel for trucks and other vehicles .', 'our propane sales are typically split evenly between the home heating market and industrial consumers .', 'we are a producer and marketer of petrochemicals and specialty products .', 'product availability varies by refinery and includes benzene , cumene , dilute naphthalene oil , molten maleic anhydride , molten sulfur , propylene , toluene and xylene .', 'we market propylene , cumene and sulfur domestically to customers in the chemical industry .', 'we sell maleic anhydride throughout the united states and canada .', 'we also have the capacity to produce 1400 tons per day of anode grade coke at our robinson refinery , which is used to make carbon anodes for the aluminum smelting industry , and 5500 tons per day of fuel grade coke at the garyville refinery , which is used for power generation and in miscellaneous industrial applications .', 'in early 2009 , we discontinued production and sales of petroleum pitch and aliphatic solvents at our catlettsburg refinery .', 'we produce and market heavy residual fuel oil or related components at all seven of our refineries .', 'another product of crude oil , heavy residual fuel oil , is primarily used in the utility and ship bunkering ( fuel ) industries , though there are other more specialized uses of the product .', 'we have refinery based asphalt production capacity of up to 108 mbpd .', 'we market asphalt through 33 owned or leased terminals throughout the midwest and southeast .', 'we have a broad customer base , including approximately 675 asphalt-paving contractors , government entities ( states , counties , cities and townships ) and asphalt roofing shingle manufacturers .', 'we sell asphalt in the wholesale and cargo markets via rail and barge .', 'we also produce asphalt cements , polymer modified asphalt , emulsified asphalt and industrial asphalts .', 'in 2007 , we acquired a 35 percent interest in an entity which owns and operates a 110-million-gallon-per-year ethanol production facility in clymers , indiana .', 'we also own a 50 percent interest in an entity which owns a 110-million-gallon-per-year ethanol production facility in greenville , ohio .', 'the greenville plant began production in february 2008 .', 'both of these facilities are managed by a co-owner. .'] | 0.27737 | MRO/2009/page_35.pdf-2 | ['the following table sets forth our refined products sales by product group and our average sales price for each of the last three years .', 'refined product sales ( thousands of barrels per day ) 2009 2008 2007 .'] | ['we sell gasoline , gasoline blendstocks and no .', '1 and no .', '2 fuel oils ( including kerosene , jet fuel and diesel fuel ) to wholesale marketing customers in the midwest , upper great plains , gulf coast and southeastern regions of the united states .', 'we sold 51 percent of our gasoline volumes and 87 percent of our distillates volumes on a wholesale or spot market basis in 2009 .', 'the demand for gasoline is seasonal in many of our markets , with demand typically being at its highest levels during the summer months .', 'we have blended ethanol into gasoline for over 20 years and began expanding our blending program in 2007 , in part due to federal regulations that require us to use specified volumes of renewable fuels .', 'ethanol volumes sold in blended gasoline were 60 mbpd in 2009 , 54 mbpd in 2008 and 40 mbpd in 2007 .', 'the future expansion or contraction of our ethanol blending program will be driven by the economics of the ethanol supply and by government regulations .', 'we sell reformulated gasoline , which is also blended with ethanol , in parts of our marketing territory , including : chicago , illinois ; louisville , kentucky ; northern kentucky ; milwaukee , wisconsin , and hartford , illinois .', 'we also sell biodiesel-blended diesel in minnesota , illinois and kentucky .', 'we produce propane at all seven of our refineries .', 'propane is primarily used for home heating and cooking , as a feedstock within the petrochemical industry , for grain drying and as a fuel for trucks and other vehicles .', 'our propane sales are typically split evenly between the home heating market and industrial consumers .', 'we are a producer and marketer of petrochemicals and specialty products .', 'product availability varies by refinery and includes benzene , cumene , dilute naphthalene oil , molten maleic anhydride , molten sulfur , propylene , toluene and xylene .', 'we market propylene , cumene and sulfur domestically to customers in the chemical industry .', 'we sell maleic anhydride throughout the united states and canada .', 'we also have the capacity to produce 1400 tons per day of anode grade coke at our robinson refinery , which is used to make carbon anodes for the aluminum smelting industry , and 5500 tons per day of fuel grade coke at the garyville refinery , which is used for power generation and in miscellaneous industrial applications .', 'in early 2009 , we discontinued production and sales of petroleum pitch and aliphatic solvents at our catlettsburg refinery .', 'we produce and market heavy residual fuel oil or related components at all seven of our refineries .', 'another product of crude oil , heavy residual fuel oil , is primarily used in the utility and ship bunkering ( fuel ) industries , though there are other more specialized uses of the product .', 'we have refinery based asphalt production capacity of up to 108 mbpd .', 'we market asphalt through 33 owned or leased terminals throughout the midwest and southeast .', 'we have a broad customer base , including approximately 675 asphalt-paving contractors , government entities ( states , counties , cities and townships ) and asphalt roofing shingle manufacturers .', 'we sell asphalt in the wholesale and cargo markets via rail and barge .', 'we also produce asphalt cements , polymer modified asphalt , emulsified asphalt and industrial asphalts .', 'in 2007 , we acquired a 35 percent interest in an entity which owns and operates a 110-million-gallon-per-year ethanol production facility in clymers , indiana .', 'we also own a 50 percent interest in an entity which owns a 110-million-gallon-per-year ethanol production facility in greenville , ohio .', 'the greenville plant began production in february 2008 .', 'both of these facilities are managed by a co-owner. .'] | ========================================
( thousands of barrels per day ), 2009, 2008, 2007
gasoline, 830, 756, 791
distillates, 357, 375, 377
propane, 23, 22, 23
feedstocks and special products, 75, 100, 103
heavy fuel oil, 24, 23, 29
asphalt, 69, 76, 87
total, 1378, 1352, 1410
average sales price ( dollars per barrel ), $ 70.86, $ 109.49, $ 86.53
======================================== | divide(375, 1352) | 0.27737 |
what is the percentage change in the total debt from 2013 to 2014? | Context: ['management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) net cash used in investing activities during 2013 primarily related to payments for capital expenditures and acquisitions .', 'capital expenditures of $ 173.0 related primarily to computer hardware and software and leasehold improvements .', 'we made payments of $ 61.5 related to acquisitions completed during 2013 , net of cash acquired .', 'financing activities net cash used in financing activities during 2014 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends .', 'during 2014 , we redeemed all $ 350.0 in aggregate principal amount of the 6.25% ( 6.25 % ) notes , repurchased 14.9 shares of our common stock for an aggregate cost of $ 275.1 , including fees , and made dividend payments of $ 159.0 on our common stock .', 'this was offset by the issuance of $ 500.0 in aggregate principal amount of our 4.20% ( 4.20 % ) notes .', 'net cash used in financing activities during 2013 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends .', 'we redeemed all $ 600.0 in aggregate principal amount of our 10.00% ( 10.00 % ) notes .', 'in addition , we repurchased 31.8 shares of our common stock for an aggregate cost of $ 481.8 , including fees , and made dividend payments of $ 126.0 on our common stock .', 'foreign exchange rate changes the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 101.0 in 2014 .', 'the decrease was primarily a result of the u.s .', 'dollar being stronger than several foreign currencies , including the canadian dollar , brazilian real , australian dollar and the euro as of december 31 , 2014 compared to december 31 , 2013 .', 'the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 94.1 in 2013 .', 'the decrease was primarily a result of the u.s .', 'dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , canadian dollar , japanese yen , and south african rand as of december 31 , 2013 compared to december 31 , 2012. .']
##########
Table:
****************************************
Row 1: balance sheet data, december 31 , 2014, december 31 , 2013
Row 2: cash cash equivalents and marketable securities, $ 1667.2, $ 1642.1
Row 3: short-term borrowings, $ 107.2, $ 179.1
Row 4: current portion of long-term debt, 2.1, 353.6
Row 5: long-term debt, 1623.5, 1129.8
Row 6: total debt, $ 1732.8, $ 1662.5
****************************************
##########
Follow-up: ['liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months .', 'we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs .', 'we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends .', 'from time to time , we evaluate market conditions and financing alternatives for opportunities to raise additional funds or otherwise improve our liquidity profile , enhance our financial flexibility and manage market risk .', 'our ability to access the capital markets depends on a number of factors , which include those specific to us , such as our credit rating , and those related to the financial markets , such as the amount or terms of available credit .', 'there can be no guarantee that we would be able to access new sources of liquidity on commercially reasonable terms , or at all. .'] | 0.04229 | IPG/2014/page_37.pdf-2 | ['management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) net cash used in investing activities during 2013 primarily related to payments for capital expenditures and acquisitions .', 'capital expenditures of $ 173.0 related primarily to computer hardware and software and leasehold improvements .', 'we made payments of $ 61.5 related to acquisitions completed during 2013 , net of cash acquired .', 'financing activities net cash used in financing activities during 2014 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends .', 'during 2014 , we redeemed all $ 350.0 in aggregate principal amount of the 6.25% ( 6.25 % ) notes , repurchased 14.9 shares of our common stock for an aggregate cost of $ 275.1 , including fees , and made dividend payments of $ 159.0 on our common stock .', 'this was offset by the issuance of $ 500.0 in aggregate principal amount of our 4.20% ( 4.20 % ) notes .', 'net cash used in financing activities during 2013 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends .', 'we redeemed all $ 600.0 in aggregate principal amount of our 10.00% ( 10.00 % ) notes .', 'in addition , we repurchased 31.8 shares of our common stock for an aggregate cost of $ 481.8 , including fees , and made dividend payments of $ 126.0 on our common stock .', 'foreign exchange rate changes the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 101.0 in 2014 .', 'the decrease was primarily a result of the u.s .', 'dollar being stronger than several foreign currencies , including the canadian dollar , brazilian real , australian dollar and the euro as of december 31 , 2014 compared to december 31 , 2013 .', 'the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 94.1 in 2013 .', 'the decrease was primarily a result of the u.s .', 'dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , canadian dollar , japanese yen , and south african rand as of december 31 , 2013 compared to december 31 , 2012. .'] | ['liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months .', 'we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs .', 'we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends .', 'from time to time , we evaluate market conditions and financing alternatives for opportunities to raise additional funds or otherwise improve our liquidity profile , enhance our financial flexibility and manage market risk .', 'our ability to access the capital markets depends on a number of factors , which include those specific to us , such as our credit rating , and those related to the financial markets , such as the amount or terms of available credit .', 'there can be no guarantee that we would be able to access new sources of liquidity on commercially reasonable terms , or at all. .'] | ****************************************
Row 1: balance sheet data, december 31 , 2014, december 31 , 2013
Row 2: cash cash equivalents and marketable securities, $ 1667.2, $ 1642.1
Row 3: short-term borrowings, $ 107.2, $ 179.1
Row 4: current portion of long-term debt, 2.1, 353.6
Row 5: long-term debt, 1623.5, 1129.8
Row 6: total debt, $ 1732.8, $ 1662.5
**************************************** | subtract(1732.8, 1662.5), divide(#0, 1662.5) | 0.04229 |
what is the percentage change in weighted average common shares outstanding for basic computations from 2015 to 2016? | Background: ['benefits as an increase to earnings of $ 152 million ( $ 0.50 per share ) during the year ended december 31 , 2016 .', 'additionally , we recognized additional income tax benefits as an increase to operating cash flows of $ 152 million during the year ended december 31 , 2016 .', 'the new accounting standard did not impact any periods prior to january 1 , 2016 , as we applied the changes in the asu on a prospective basis .', 'in september 2015 , the fasb issued asu no .', '2015-16 , business combinations ( topic 805 ) , which simplifies the accounting for adjustments made to preliminary amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments .', 'instead , adjustments will be recognized in the period in which the adjustments are determined , including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date .', 'we adopted the asu on january 1 , 2016 and are prospectively applying the asu to business combination adjustments identified after the date of adoption .', 'in november 2015 , the fasb issued asu no .', '2015-17 , income taxes ( topic 740 ) , which simplifies the presentation of deferred income taxes and requires that deferred tax assets and liabilities , as well as any related valuation allowance , be classified as noncurrent in our consolidated balance sheets .', 'we applied the provisions of the asu retrospectively and reclassified approximately $ 1.6 billion from current to noncurrent assets and approximately $ 140 million from current to noncurrent liabilities in our consolidated balance sheet as of december 31 , 2015 .', 'note 2 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : .']
##########
Tabular Data:
Row 1: , 2016, 2015, 2014
Row 2: weighted average common shares outstanding for basic computations, 299.3, 310.3, 316.8
Row 3: weighted average dilutive effect of equity awards, 3.8, 4.4, 5.6
Row 4: weighted average common shares outstanding for dilutedcomputations, 303.1, 314.7, 322.4
##########
Post-table: ['we compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented .', 'our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units and exercise of outstanding stock options based on the treasury stock method .', 'there were no anti-dilutive equity awards for the years ended december 31 , 2016 , 2015 and 2014 .', 'note 3 2013 acquisitions and divestitures acquisitions acquisition of sikorsky aircraft corporation on november 6 , 2015 , we completed the acquisition of sikorsky aircraft corporation and certain affiliated companies ( collectively 201csikorsky 201d ) from united technologies corporation ( utc ) and certain of utc 2019s subsidiaries .', 'the purchase price of the acquisition was $ 9.0 billion , net of cash acquired .', 'as a result of the acquisition , sikorsky became a wholly- owned subsidiary of ours .', 'sikorsky is a global company primarily engaged in the research , design , development , manufacture and support of military and commercial helicopters .', 'sikorsky 2019s products include military helicopters such as the black hawk , seahawk , ch-53k , h-92 ; and commercial helicopters such as the s-76 and s-92 .', 'the acquisition enables us to extend our core business into the military and commercial rotary wing markets , allowing us to strengthen our position in the aerospace and defense industry .', 'further , this acquisition will expand our presence in commercial and international markets .', 'sikorsky has been aligned under our rms business segment .', 'to fund the $ 9.0 billion acquisition price , we utilized $ 6.0 billion of proceeds borrowed under a temporary 364-day revolving credit facility ( the 364-day facility ) , $ 2.0 billion of cash on hand and $ 1.0 billion from the issuance of commercial paper .', 'in the fourth quarter of 2015 , we repaid all outstanding borrowings under the 364-day facility with the proceeds from the issuance of $ 7.0 billion of fixed interest-rate long-term notes in a public offering ( the november 2015 notes ) .', 'in the fourth quarter of 2015 , we also repaid the $ 1.0 billion in commercial paper borrowings ( see 201cnote 10 2013 debt 201d ) . .'] | -0.03545 | LMT/2016/page_83.pdf-4 | ['benefits as an increase to earnings of $ 152 million ( $ 0.50 per share ) during the year ended december 31 , 2016 .', 'additionally , we recognized additional income tax benefits as an increase to operating cash flows of $ 152 million during the year ended december 31 , 2016 .', 'the new accounting standard did not impact any periods prior to january 1 , 2016 , as we applied the changes in the asu on a prospective basis .', 'in september 2015 , the fasb issued asu no .', '2015-16 , business combinations ( topic 805 ) , which simplifies the accounting for adjustments made to preliminary amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments .', 'instead , adjustments will be recognized in the period in which the adjustments are determined , including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date .', 'we adopted the asu on january 1 , 2016 and are prospectively applying the asu to business combination adjustments identified after the date of adoption .', 'in november 2015 , the fasb issued asu no .', '2015-17 , income taxes ( topic 740 ) , which simplifies the presentation of deferred income taxes and requires that deferred tax assets and liabilities , as well as any related valuation allowance , be classified as noncurrent in our consolidated balance sheets .', 'we applied the provisions of the asu retrospectively and reclassified approximately $ 1.6 billion from current to noncurrent assets and approximately $ 140 million from current to noncurrent liabilities in our consolidated balance sheet as of december 31 , 2015 .', 'note 2 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : .'] | ['we compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented .', 'our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units and exercise of outstanding stock options based on the treasury stock method .', 'there were no anti-dilutive equity awards for the years ended december 31 , 2016 , 2015 and 2014 .', 'note 3 2013 acquisitions and divestitures acquisitions acquisition of sikorsky aircraft corporation on november 6 , 2015 , we completed the acquisition of sikorsky aircraft corporation and certain affiliated companies ( collectively 201csikorsky 201d ) from united technologies corporation ( utc ) and certain of utc 2019s subsidiaries .', 'the purchase price of the acquisition was $ 9.0 billion , net of cash acquired .', 'as a result of the acquisition , sikorsky became a wholly- owned subsidiary of ours .', 'sikorsky is a global company primarily engaged in the research , design , development , manufacture and support of military and commercial helicopters .', 'sikorsky 2019s products include military helicopters such as the black hawk , seahawk , ch-53k , h-92 ; and commercial helicopters such as the s-76 and s-92 .', 'the acquisition enables us to extend our core business into the military and commercial rotary wing markets , allowing us to strengthen our position in the aerospace and defense industry .', 'further , this acquisition will expand our presence in commercial and international markets .', 'sikorsky has been aligned under our rms business segment .', 'to fund the $ 9.0 billion acquisition price , we utilized $ 6.0 billion of proceeds borrowed under a temporary 364-day revolving credit facility ( the 364-day facility ) , $ 2.0 billion of cash on hand and $ 1.0 billion from the issuance of commercial paper .', 'in the fourth quarter of 2015 , we repaid all outstanding borrowings under the 364-day facility with the proceeds from the issuance of $ 7.0 billion of fixed interest-rate long-term notes in a public offering ( the november 2015 notes ) .', 'in the fourth quarter of 2015 , we also repaid the $ 1.0 billion in commercial paper borrowings ( see 201cnote 10 2013 debt 201d ) . .'] | Row 1: , 2016, 2015, 2014
Row 2: weighted average common shares outstanding for basic computations, 299.3, 310.3, 316.8
Row 3: weighted average dilutive effect of equity awards, 3.8, 4.4, 5.6
Row 4: weighted average common shares outstanding for dilutedcomputations, 303.1, 314.7, 322.4 | subtract(299.3, 310.3), divide(#0, 310.3) | -0.03545 |
what was the percentage decline in the weighted- average estimated fair values of stock options from 2007 to 2008 | Pre-text: ['awards .', 'awards granted under the 2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the merger .', 'awards may be granted under the 2006 plan , as amended and restated , after december 5 , 2008 only to employees and consultants of allied waste industries , inc .', 'and its subsidiaries who were not employed by republic services , inc .', 'prior to such date .', 'at december 31 , 2009 , there were approximately 15.3 million shares of common stock reserved for future grants under the 2006 plan .', 'stock options we use a lattice binomial option-pricing model to value our stock option grants .', 'we recognize compensation expense on a straight-line basis over the requisite service period for each separately vesting portion of the award , or to the employee 2019s retirement eligible date , if earlier .', 'expected volatility is based on the weighted average of the most recent one-year volatility and a historical rolling average volatility of our stock over the expected life of the option .', 'the risk-free interest rate is based on federal reserve rates in effect for bonds with maturity dates equal to the expected term of the option .', 'we use historical data to estimate future option exercises , forfeitures and expected life of the options .', 'when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes .', 'the weighted- average estimated fair values of stock options granted during the years ended december 31 , 2009 , 2008 and 2007 were $ 3.79 , $ 4.36 and $ 6.49 per option , respectively , which were calculated using the following weighted-average assumptions: .']
------
Data Table:
| 2009 | 2008 | 2007
expected volatility | 28.7% ( 28.7 % ) | 27.3% ( 27.3 % ) | 23.5% ( 23.5 % )
risk-free interest rate | 1.4% ( 1.4 % ) | 1.7% ( 1.7 % ) | 4.8% ( 4.8 % )
dividend yield | 3.1% ( 3.1 % ) | 2.9% ( 2.9 % ) | 1.5% ( 1.5 % )
expected life ( in years ) | 4.2 | 4.2 | 4.0
contractual life ( in years ) | 7 | 7 | 7
expected forfeiture rate | 3.0% ( 3.0 % ) | 3.0% ( 3.0 % ) | 5.0% ( 5.0 % )
------
Post-table: ['republic services , inc .', 'and subsidiaries notes to consolidated financial statements , continued .'] | -0.3282 | RSG/2009/page_140.pdf-2 | ['awards .', 'awards granted under the 2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the merger .', 'awards may be granted under the 2006 plan , as amended and restated , after december 5 , 2008 only to employees and consultants of allied waste industries , inc .', 'and its subsidiaries who were not employed by republic services , inc .', 'prior to such date .', 'at december 31 , 2009 , there were approximately 15.3 million shares of common stock reserved for future grants under the 2006 plan .', 'stock options we use a lattice binomial option-pricing model to value our stock option grants .', 'we recognize compensation expense on a straight-line basis over the requisite service period for each separately vesting portion of the award , or to the employee 2019s retirement eligible date , if earlier .', 'expected volatility is based on the weighted average of the most recent one-year volatility and a historical rolling average volatility of our stock over the expected life of the option .', 'the risk-free interest rate is based on federal reserve rates in effect for bonds with maturity dates equal to the expected term of the option .', 'we use historical data to estimate future option exercises , forfeitures and expected life of the options .', 'when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes .', 'the weighted- average estimated fair values of stock options granted during the years ended december 31 , 2009 , 2008 and 2007 were $ 3.79 , $ 4.36 and $ 6.49 per option , respectively , which were calculated using the following weighted-average assumptions: .'] | ['republic services , inc .', 'and subsidiaries notes to consolidated financial statements , continued .'] | | 2009 | 2008 | 2007
expected volatility | 28.7% ( 28.7 % ) | 27.3% ( 27.3 % ) | 23.5% ( 23.5 % )
risk-free interest rate | 1.4% ( 1.4 % ) | 1.7% ( 1.7 % ) | 4.8% ( 4.8 % )
dividend yield | 3.1% ( 3.1 % ) | 2.9% ( 2.9 % ) | 1.5% ( 1.5 % )
expected life ( in years ) | 4.2 | 4.2 | 4.0
contractual life ( in years ) | 7 | 7 | 7
expected forfeiture rate | 3.0% ( 3.0 % ) | 3.0% ( 3.0 % ) | 5.0% ( 5.0 % ) | subtract(4.36, 6.49), divide(#0, 6.49) | -0.3282 |
what is the percentage change in the number of staff in 2012? | Background: ['management 2019s discussion and analysis net interest income 2012 versus 2011 .', 'net interest income on the consolidated statements of earnings was $ 3.88 billion for 2012 , 25% ( 25 % ) lower than 2011 .', 'the decrease compared with 2011 was primarily due to lower average yields on financial instruments owned , at fair value , and collateralized agreements .', '2011 versus 2010 .', 'net interest income on the consolidated statements of earnings was $ 5.19 billion for 2011 , 6% ( 6 % ) lower than 2010 .', 'the decrease compared with 2010 was primarily due to higher interest expense related to our long-term borrowings and higher dividend expense related to financial instruments sold , but not yet purchased , partially offset by an increase in interest income from higher yielding collateralized agreements .', 'operating expenses our operating expenses are primarily influenced by compensation , headcount and levels of business activity .', 'compensation and benefits includes salaries , discretionary compensation , amortization of equity awards and other items such as benefits .', 'discretionary compensation is significantly impacted by , among other factors , the level of net revenues , overall financial performance , prevailing labor markets , business mix , the structure of our share-based compensation programs and the external environment .', 'in the context of more difficult economic and financial conditions , the firm launched an initiative during the second quarter of 2011 to identify areas where we can operate more efficiently and reduce our operating expenses .', 'during 2012 and 2011 , we announced targeted annual run rate compensation and non-compensation reductions of approximately $ 1.9 billion in aggregate .', 'the table below presents our operating expenses and total staff. .']
########
Tabular Data:
========================================
• $ in millions, year ended december 2012, year ended december 2011, year ended december 2010
• compensation and benefits, $ 12944, $ 12223, $ 15376
• u.k . bank payrolltax, 2014, 2014, 465
• brokerage clearing exchange anddistribution fees, 2208, 2463, 2281
• market development, 509, 640, 530
• communications and technology, 782, 828, 758
• depreciation and amortization, 1738, 1865, 1889
• occupancy, 875, 1030, 1086
• professional fees, 867, 992, 927
• insurance reserves1, 598, 529, 398
• other expenses, 2435, 2072, 2559
• total non-compensation expenses, 10012, 10419, 10428
• total operating expenses, $ 22956, $ 22642, $ 26269
• total staff atperiod-end2, 32400, 33300, 35700
========================================
########
Additional Information: ['total staff at period-end 2 32400 33300 35700 1 .', 'related revenues are included in 201cmarket making 201d on the consolidated statements of earnings .', '2 .', 'includes employees , consultants and temporary staff .', '48 goldman sachs 2012 annual report .'] | -0.02703 | GS/2012/page_50.pdf-2 | ['management 2019s discussion and analysis net interest income 2012 versus 2011 .', 'net interest income on the consolidated statements of earnings was $ 3.88 billion for 2012 , 25% ( 25 % ) lower than 2011 .', 'the decrease compared with 2011 was primarily due to lower average yields on financial instruments owned , at fair value , and collateralized agreements .', '2011 versus 2010 .', 'net interest income on the consolidated statements of earnings was $ 5.19 billion for 2011 , 6% ( 6 % ) lower than 2010 .', 'the decrease compared with 2010 was primarily due to higher interest expense related to our long-term borrowings and higher dividend expense related to financial instruments sold , but not yet purchased , partially offset by an increase in interest income from higher yielding collateralized agreements .', 'operating expenses our operating expenses are primarily influenced by compensation , headcount and levels of business activity .', 'compensation and benefits includes salaries , discretionary compensation , amortization of equity awards and other items such as benefits .', 'discretionary compensation is significantly impacted by , among other factors , the level of net revenues , overall financial performance , prevailing labor markets , business mix , the structure of our share-based compensation programs and the external environment .', 'in the context of more difficult economic and financial conditions , the firm launched an initiative during the second quarter of 2011 to identify areas where we can operate more efficiently and reduce our operating expenses .', 'during 2012 and 2011 , we announced targeted annual run rate compensation and non-compensation reductions of approximately $ 1.9 billion in aggregate .', 'the table below presents our operating expenses and total staff. .'] | ['total staff at period-end 2 32400 33300 35700 1 .', 'related revenues are included in 201cmarket making 201d on the consolidated statements of earnings .', '2 .', 'includes employees , consultants and temporary staff .', '48 goldman sachs 2012 annual report .'] | ========================================
• $ in millions, year ended december 2012, year ended december 2011, year ended december 2010
• compensation and benefits, $ 12944, $ 12223, $ 15376
• u.k . bank payrolltax, 2014, 2014, 465
• brokerage clearing exchange anddistribution fees, 2208, 2463, 2281
• market development, 509, 640, 530
• communications and technology, 782, 828, 758
• depreciation and amortization, 1738, 1865, 1889
• occupancy, 875, 1030, 1086
• professional fees, 867, 992, 927
• insurance reserves1, 598, 529, 398
• other expenses, 2435, 2072, 2559
• total non-compensation expenses, 10012, 10419, 10428
• total operating expenses, $ 22956, $ 22642, $ 26269
• total staff atperiod-end2, 32400, 33300, 35700
======================================== | subtract(32400, 33300), divide(#0, 33300) | -0.02703 |
as of year ended december 31 2015 what is the value of the shares granted | Pre-text: ['the following table summarized the status of the company 2019s non-vested performance share unit awards and changes for the period indicated : weighted- average grant date performance share unit awards shares fair value .']
--------
Tabular Data:
****************************************
performance share unit awards | year ended december 31 2015 shares | year ended december 31 2015 weighted- average grant date fair value
----------|----------|----------
outstanding at january 1, | - | $ -
granted | 10705 | 178.84
vested | - | -
forfeited | - | -
outstanding at december 31, | 10705 | 178.84
****************************************
--------
Follow-up: ['19 .', 'segment reporting the u.s .', 'reinsurance operation writes property and casualty reinsurance and specialty lines of business , including marine , aviation , surety and accident and health ( 201ca&h 201d ) business , on both a treaty and facultative basis , through reinsurance brokers , as well as directly with ceding companies primarily within the u.s .', 'the international operation writes non-u.s .', 'property and casualty reinsurance through everest re 2019s branches in canada and singapore and through offices in brazil , miami and new jersey .', 'the bermuda operation provides reinsurance and insurance to worldwide property and casualty markets through brokers and directly with ceding companies from its bermuda office and reinsurance to the united kingdom and european markets through its uk branch and ireland re .', 'the insurance operation writes property and casualty insurance directly and through general agents , brokers and surplus lines brokers within the u.s .', 'and canada .', 'the mt .', 'logan re segment represents business written for the segregated accounts of mt .', 'logan re , which were formed on july 1 , 2013 .', 'the mt .', 'logan re business represents a diversified set of catastrophe exposures , diversified by risk/peril and across different geographical regions globally .', 'these segments , with the exception of mt .', 'logan re , are managed independently , but conform with corporate guidelines with respect to pricing , risk management , control of aggregate catastrophe exposures , capital , investments and support operations .', 'management generally monitors and evaluates the financial performance of these operating segments based upon their underwriting results .', 'the mt .', 'logan re segment is managed independently and seeks to write a diverse portfolio of catastrophe risks for each segregated account to achieve desired risk and return criteria .', 'underwriting results include earned premium less losses and loss adjustment expenses ( 201clae 201d ) incurred , commission and brokerage expenses and other underwriting expenses .', 'we measure our underwriting results using ratios , in particular loss , commission and brokerage and other underwriting expense ratios , which , respectively , divide incurred losses , commissions and brokerage and other underwriting expenses by premiums earned .', 'mt .', 'logan re 2019s business is sourced through operating subsidiaries of the company ; however , the activity is only reflected in the mt .', 'logan re segment .', 'for other inter-affiliate reinsurance , business is generally reported within the segment in which the business was first produced , consistent with how the business is managed .', 'except for mt .', 'logan re , the company does not maintain separate balance sheet data for its operating segments .', 'accordingly , the company does not review and evaluate the financial results of its operating segments based upon balance sheet data. .'] | 1914482.2 | RE/2015/page_148.pdf-2 | ['the following table summarized the status of the company 2019s non-vested performance share unit awards and changes for the period indicated : weighted- average grant date performance share unit awards shares fair value .'] | ['19 .', 'segment reporting the u.s .', 'reinsurance operation writes property and casualty reinsurance and specialty lines of business , including marine , aviation , surety and accident and health ( 201ca&h 201d ) business , on both a treaty and facultative basis , through reinsurance brokers , as well as directly with ceding companies primarily within the u.s .', 'the international operation writes non-u.s .', 'property and casualty reinsurance through everest re 2019s branches in canada and singapore and through offices in brazil , miami and new jersey .', 'the bermuda operation provides reinsurance and insurance to worldwide property and casualty markets through brokers and directly with ceding companies from its bermuda office and reinsurance to the united kingdom and european markets through its uk branch and ireland re .', 'the insurance operation writes property and casualty insurance directly and through general agents , brokers and surplus lines brokers within the u.s .', 'and canada .', 'the mt .', 'logan re segment represents business written for the segregated accounts of mt .', 'logan re , which were formed on july 1 , 2013 .', 'the mt .', 'logan re business represents a diversified set of catastrophe exposures , diversified by risk/peril and across different geographical regions globally .', 'these segments , with the exception of mt .', 'logan re , are managed independently , but conform with corporate guidelines with respect to pricing , risk management , control of aggregate catastrophe exposures , capital , investments and support operations .', 'management generally monitors and evaluates the financial performance of these operating segments based upon their underwriting results .', 'the mt .', 'logan re segment is managed independently and seeks to write a diverse portfolio of catastrophe risks for each segregated account to achieve desired risk and return criteria .', 'underwriting results include earned premium less losses and loss adjustment expenses ( 201clae 201d ) incurred , commission and brokerage expenses and other underwriting expenses .', 'we measure our underwriting results using ratios , in particular loss , commission and brokerage and other underwriting expense ratios , which , respectively , divide incurred losses , commissions and brokerage and other underwriting expenses by premiums earned .', 'mt .', 'logan re 2019s business is sourced through operating subsidiaries of the company ; however , the activity is only reflected in the mt .', 'logan re segment .', 'for other inter-affiliate reinsurance , business is generally reported within the segment in which the business was first produced , consistent with how the business is managed .', 'except for mt .', 'logan re , the company does not maintain separate balance sheet data for its operating segments .', 'accordingly , the company does not review and evaluate the financial results of its operating segments based upon balance sheet data. .'] | ****************************************
performance share unit awards | year ended december 31 2015 shares | year ended december 31 2015 weighted- average grant date fair value
----------|----------|----------
outstanding at january 1, | - | $ -
granted | 10705 | 178.84
vested | - | -
forfeited | - | -
outstanding at december 31, | 10705 | 178.84
**************************************** | multiply(10705, 178.84) | 1914482.2 |
what was the revenues , net of interest expense in billions in 2008 reflecting the overall difficult market conditions . | Background: ['2009 vs .', '2008 revenues , net of interest expense increased 11% ( 11 % ) or $ 2.7 billion , as markets began to recover in the early part of 2009 , bringing back higher levels of volume activity and higher levels of liquidity , which began to decline again in the third quarter of 2009 .', 'the growth in revenue in the early part of the year was mainly due to a $ 7.1 billion increase in fixed income markets , reflecting strong trading opportunities across all asset classes in the first half of 2009 , and a $ 1.5 billion increase in investment banking revenue primarily from increases in debt and equity underwriting activities reflecting higher transaction volumes from depressed 2008 levels .', 'these increases were offset by a $ 6.4 billion decrease in lending revenue primarily from losses on credit default swap hedges .', 'excluding the 2009 and 2008 cva impact , as indicated in the table below , revenues increased 23% ( 23 % ) or $ 5.5 billion .', 'operating expenses decreased 17% ( 17 % ) , or $ 2.7 billion .', 'excluding the 2008 repositioning and restructuring charges and the 2009 litigation reserve release , operating expenses declined 11% ( 11 % ) or $ 1.6 billion , mainly as a result of headcount reductions and benefits from expense management .', 'provisions for loan losses and for benefits and claims decreased 7% ( 7 % ) or $ 129 million , to $ 1.7 billion , mainly due to lower credit reserve builds and net credit losses , due to an improved credit environment , particularly in the latter part of the year .', '2008 vs .', '2007 revenues , net of interest expense decreased 2% ( 2 % ) or $ 0.4 billion reflecting the overall difficult market conditions .', 'excluding the 2008 and 2007 cva impact , revenues decreased 3% ( 3 % ) or $ 0.6 billion .', 'the reduction in revenue was primarily due to a decrease in investment banking revenue of $ 2.3 billion to $ 3.2 billion , mainly in debt and equity underwriting , reflecting lower volumes , and a decrease in equity markets revenue of $ 2.3 billion to $ 2.9 billion due to extremely high volatility and reduced levels of activity .', 'these reductions were offset by an increase in fixed income markets of $ 2.9 billion to $ 14.4 billion due to strong performance in interest rates and currencies , and an increase in lending revenue of $ 2.4 billion to $ 4.2 billion mainly from gains on credit default swap hedges .', 'operating expenses decreased by 2% ( 2 % ) or $ 0.4 billion .', 'excluding the 2008 and 2007 repositioning and restructuring charges and the 2007 litigation reserve reversal , operating expenses decreased by 7% ( 7 % ) or $ 1.1 billion driven by headcount reduction and lower performance-based incentives .', 'provisions for credit losses and for benefits and claims increased $ 1.3 billion to $ 1.8 billion mainly from higher credit reserve builds and net credit losses offset by a lower provision for unfunded lending commitments due to deterioration in the credit environment .', 'certain revenues impacting securities and banking items that impacted s&b revenues during 2009 and 2008 are set forth in the table below. .']
##########
Table:
****************************************
in millions of dollars pretax revenue 2009 pretax revenue 2008
private equity and equity investments $ 201 $ -377 ( 377 )
alt-a mortgages ( 1 ) ( 2 ) 321 -737 ( 737 )
commercial real estate ( cre ) positions ( 1 ) ( 3 ) 68 270
cva on citi debt liabilities under fair value option -3974 ( 3974 ) 4325
cva on derivatives positions excluding monoline insurers 2204 -3292 ( 3292 )
total significant revenue items $ -1180 ( 1180 ) $ 189
****************************************
##########
Post-table: ['( 1 ) net of hedges .', '( 2 ) for these purposes , alt-a mortgage securities are non-agency residential mortgage-backed securities ( rmbs ) where ( i ) the underlying collateral has weighted average fico scores between 680 and 720 or ( ii ) for instances where fico scores are greater than 720 , rmbs have 30% ( 30 % ) or less of the underlying collateral composed of full documentation loans .', 'see 201cmanaging global risk 2014credit risk 2014u.s .', 'consumer mortgage lending . 201d ( 3 ) s&b 2019s commercial real estate exposure is split into three categories of assets : held at fair value ; held- to-maturity/held-for-investment ; and equity .', 'see 201cmanaging global risk 2014credit risk 2014exposure to commercial real estate 201d section for a further discussion .', 'in the table above , 2009 includes a $ 330 million pretax adjustment to the cva balance , which reduced pretax revenues for the year , reflecting a correction of an error related to prior periods .', 'see 201csignificant accounting policies and significant estimates 201d below and notes 1 and 34 to the consolidated financial statements for a further discussion of this adjustment .', '2010 outlook the 2010 outlook for s&b will depend on the level of client activity and on macroeconomic conditions , market valuations and volatility , interest rates and other market factors .', 'management of s&b currently expects to maintain client activity throughout 2010 and to operate in market conditions that offer moderate volatility and increased liquidity .', 'operating expenses will benefit from continued re-engineering and expense management initiatives , but will be offset by investments in talent and infrastructure to support growth. .'] | 19.6 | C/2009/page_38.pdf-1 | ['2009 vs .', '2008 revenues , net of interest expense increased 11% ( 11 % ) or $ 2.7 billion , as markets began to recover in the early part of 2009 , bringing back higher levels of volume activity and higher levels of liquidity , which began to decline again in the third quarter of 2009 .', 'the growth in revenue in the early part of the year was mainly due to a $ 7.1 billion increase in fixed income markets , reflecting strong trading opportunities across all asset classes in the first half of 2009 , and a $ 1.5 billion increase in investment banking revenue primarily from increases in debt and equity underwriting activities reflecting higher transaction volumes from depressed 2008 levels .', 'these increases were offset by a $ 6.4 billion decrease in lending revenue primarily from losses on credit default swap hedges .', 'excluding the 2009 and 2008 cva impact , as indicated in the table below , revenues increased 23% ( 23 % ) or $ 5.5 billion .', 'operating expenses decreased 17% ( 17 % ) , or $ 2.7 billion .', 'excluding the 2008 repositioning and restructuring charges and the 2009 litigation reserve release , operating expenses declined 11% ( 11 % ) or $ 1.6 billion , mainly as a result of headcount reductions and benefits from expense management .', 'provisions for loan losses and for benefits and claims decreased 7% ( 7 % ) or $ 129 million , to $ 1.7 billion , mainly due to lower credit reserve builds and net credit losses , due to an improved credit environment , particularly in the latter part of the year .', '2008 vs .', '2007 revenues , net of interest expense decreased 2% ( 2 % ) or $ 0.4 billion reflecting the overall difficult market conditions .', 'excluding the 2008 and 2007 cva impact , revenues decreased 3% ( 3 % ) or $ 0.6 billion .', 'the reduction in revenue was primarily due to a decrease in investment banking revenue of $ 2.3 billion to $ 3.2 billion , mainly in debt and equity underwriting , reflecting lower volumes , and a decrease in equity markets revenue of $ 2.3 billion to $ 2.9 billion due to extremely high volatility and reduced levels of activity .', 'these reductions were offset by an increase in fixed income markets of $ 2.9 billion to $ 14.4 billion due to strong performance in interest rates and currencies , and an increase in lending revenue of $ 2.4 billion to $ 4.2 billion mainly from gains on credit default swap hedges .', 'operating expenses decreased by 2% ( 2 % ) or $ 0.4 billion .', 'excluding the 2008 and 2007 repositioning and restructuring charges and the 2007 litigation reserve reversal , operating expenses decreased by 7% ( 7 % ) or $ 1.1 billion driven by headcount reduction and lower performance-based incentives .', 'provisions for credit losses and for benefits and claims increased $ 1.3 billion to $ 1.8 billion mainly from higher credit reserve builds and net credit losses offset by a lower provision for unfunded lending commitments due to deterioration in the credit environment .', 'certain revenues impacting securities and banking items that impacted s&b revenues during 2009 and 2008 are set forth in the table below. .'] | ['( 1 ) net of hedges .', '( 2 ) for these purposes , alt-a mortgage securities are non-agency residential mortgage-backed securities ( rmbs ) where ( i ) the underlying collateral has weighted average fico scores between 680 and 720 or ( ii ) for instances where fico scores are greater than 720 , rmbs have 30% ( 30 % ) or less of the underlying collateral composed of full documentation loans .', 'see 201cmanaging global risk 2014credit risk 2014u.s .', 'consumer mortgage lending . 201d ( 3 ) s&b 2019s commercial real estate exposure is split into three categories of assets : held at fair value ; held- to-maturity/held-for-investment ; and equity .', 'see 201cmanaging global risk 2014credit risk 2014exposure to commercial real estate 201d section for a further discussion .', 'in the table above , 2009 includes a $ 330 million pretax adjustment to the cva balance , which reduced pretax revenues for the year , reflecting a correction of an error related to prior periods .', 'see 201csignificant accounting policies and significant estimates 201d below and notes 1 and 34 to the consolidated financial statements for a further discussion of this adjustment .', '2010 outlook the 2010 outlook for s&b will depend on the level of client activity and on macroeconomic conditions , market valuations and volatility , interest rates and other market factors .', 'management of s&b currently expects to maintain client activity throughout 2010 and to operate in market conditions that offer moderate volatility and increased liquidity .', 'operating expenses will benefit from continued re-engineering and expense management initiatives , but will be offset by investments in talent and infrastructure to support growth. .'] | ****************************************
in millions of dollars pretax revenue 2009 pretax revenue 2008
private equity and equity investments $ 201 $ -377 ( 377 )
alt-a mortgages ( 1 ) ( 2 ) 321 -737 ( 737 )
commercial real estate ( cre ) positions ( 1 ) ( 3 ) 68 270
cva on citi debt liabilities under fair value option -3974 ( 3974 ) 4325
cva on derivatives positions excluding monoline insurers 2204 -3292 ( 3292 )
total significant revenue items $ -1180 ( 1180 ) $ 189
**************************************** | divide(0.4, 2%), subtract(#0, 0.4) | 19.6 |
how many shares of common stock were issued during 2007? | Context: ['abiomed , inc .', 'and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 12 .', 'stock award plans and stock based compensation ( continued ) compensation expense recognized related to the company 2019s espp was approximately $ 0.1 million for each of the years ended march 31 , 2009 , 2008 and 2007 respectively .', 'the fair value of shares issued under the employee stock purchase plan was estimated on the commencement date of each offering period using the black-scholes option-pricing model with the following assumptions: .']
##########
Table:
****************************************
2009 2008 2007
risk-free interest rate 1.01% ( 1.01 % ) 4.61% ( 4.61 % ) 4.84% ( 4.84 % )
expected life ( years ) 0.5 0.5 0.5
expected volatility 67.2% ( 67.2 % ) 45.2% ( 45.2 % ) 39.8% ( 39.8 % )
****************************************
##########
Additional Information: ['note 13 .', 'capital stock in august 2008 , the company issued 2419932 shares of its common stock at a price of $ 17.3788 in a public offering , which resulted in net proceeds to the company of approximately $ 42.0 million , after deducting offering expenses .', 'in march 2007 , the company issued 5000000 shares of common stock in a public offering , and in april 2007 , an additional 80068 shares of common stock were issued in connection with the offering upon the partial exercise of the underwriters 2019 over-allotment option .', 'the company has authorized 1000000 shares of class b preferred stock , $ 0.01 par value , of which the board of directors can set the designation , rights and privileges .', 'no shares of class b preferred stock have been issued or are outstanding .', 'note 14 .', 'income taxes deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to tax benefit carryforwards and to differences between the financial statement amounts of assets and liabilities and their respective tax basis .', 'deferred tax assets and liabilities are measured using enacted tax rates .', 'a valuation reserve is established if it is more likely than not that all or a portion of the deferred tax asset will not be realized .', 'the tax benefit associated with the stock option compensation deductions will be credited to equity when realized .', 'at march 31 , 2009 , the company had federal and state net operating loss carryforwards , or nols , of approximately $ 145.1 million and $ 97.1 million , respectively , which begin to expire in fiscal 2010 .', 'additionally , at march 31 , 2009 , the company had federal and state research and development credit carryforwards of approximately $ 8.1 million and $ 4.2 million , respectively , which begin to expire in fiscal 2010 .', 'the company acquired impella , a german-based company , in may 2005 .', 'impella had pre-acquisition net operating losses of approximately $ 18.2 million at the time of acquisition ( which is denominated in euros and is subject to foreign exchange remeasurement at each balance sheet date presented ) , and has since incurred net operating losses in each fiscal year since the acquisition .', 'during fiscal 2008 , the company determined that approximately $ 1.2 million of pre-acquisition operating losses could not be utilized .', 'the utilization of pre-acquisition net operating losses of impella in future periods is subject to certain statutory approvals and business requirements .', 'due to uncertainties surrounding the company 2019s ability to generate future taxable income to realize these assets , a full valuation allowance has been established to offset the company 2019s net deferred tax assets and liabilities .', 'additionally , the future utilization of the company 2019s nol and research and development credit carry forwards to offset future taxable income may be subject to a substantial annual limitation under section 382 of the internal revenue code due to ownership changes that have occurred previously or that could occur in the future .', 'ownership changes , as defined in section 382 of the internal revenue code , can limit the amount of net operating loss carry forwards and research and development credit carry forwards that a company can use each year to offset future taxable income and taxes payable .', 'the company believes that all of its federal and state nol 2019s will be available for carryforward to future tax periods , subject to the statutory maximum carryforward limitation of any annual nol .', 'any future potential limitation to all or a portion of the nol or research and development credit carry forwards , before they can be utilized , would reduce the company 2019s gross deferred tax assets .', 'the company will monitor subsequent ownership changes , which could impose limitations in the future. .'] | 5080068.0 | ABMD/2009/page_85.pdf-4 | ['abiomed , inc .', 'and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 12 .', 'stock award plans and stock based compensation ( continued ) compensation expense recognized related to the company 2019s espp was approximately $ 0.1 million for each of the years ended march 31 , 2009 , 2008 and 2007 respectively .', 'the fair value of shares issued under the employee stock purchase plan was estimated on the commencement date of each offering period using the black-scholes option-pricing model with the following assumptions: .'] | ['note 13 .', 'capital stock in august 2008 , the company issued 2419932 shares of its common stock at a price of $ 17.3788 in a public offering , which resulted in net proceeds to the company of approximately $ 42.0 million , after deducting offering expenses .', 'in march 2007 , the company issued 5000000 shares of common stock in a public offering , and in april 2007 , an additional 80068 shares of common stock were issued in connection with the offering upon the partial exercise of the underwriters 2019 over-allotment option .', 'the company has authorized 1000000 shares of class b preferred stock , $ 0.01 par value , of which the board of directors can set the designation , rights and privileges .', 'no shares of class b preferred stock have been issued or are outstanding .', 'note 14 .', 'income taxes deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to tax benefit carryforwards and to differences between the financial statement amounts of assets and liabilities and their respective tax basis .', 'deferred tax assets and liabilities are measured using enacted tax rates .', 'a valuation reserve is established if it is more likely than not that all or a portion of the deferred tax asset will not be realized .', 'the tax benefit associated with the stock option compensation deductions will be credited to equity when realized .', 'at march 31 , 2009 , the company had federal and state net operating loss carryforwards , or nols , of approximately $ 145.1 million and $ 97.1 million , respectively , which begin to expire in fiscal 2010 .', 'additionally , at march 31 , 2009 , the company had federal and state research and development credit carryforwards of approximately $ 8.1 million and $ 4.2 million , respectively , which begin to expire in fiscal 2010 .', 'the company acquired impella , a german-based company , in may 2005 .', 'impella had pre-acquisition net operating losses of approximately $ 18.2 million at the time of acquisition ( which is denominated in euros and is subject to foreign exchange remeasurement at each balance sheet date presented ) , and has since incurred net operating losses in each fiscal year since the acquisition .', 'during fiscal 2008 , the company determined that approximately $ 1.2 million of pre-acquisition operating losses could not be utilized .', 'the utilization of pre-acquisition net operating losses of impella in future periods is subject to certain statutory approvals and business requirements .', 'due to uncertainties surrounding the company 2019s ability to generate future taxable income to realize these assets , a full valuation allowance has been established to offset the company 2019s net deferred tax assets and liabilities .', 'additionally , the future utilization of the company 2019s nol and research and development credit carry forwards to offset future taxable income may be subject to a substantial annual limitation under section 382 of the internal revenue code due to ownership changes that have occurred previously or that could occur in the future .', 'ownership changes , as defined in section 382 of the internal revenue code , can limit the amount of net operating loss carry forwards and research and development credit carry forwards that a company can use each year to offset future taxable income and taxes payable .', 'the company believes that all of its federal and state nol 2019s will be available for carryforward to future tax periods , subject to the statutory maximum carryforward limitation of any annual nol .', 'any future potential limitation to all or a portion of the nol or research and development credit carry forwards , before they can be utilized , would reduce the company 2019s gross deferred tax assets .', 'the company will monitor subsequent ownership changes , which could impose limitations in the future. .'] | ****************************************
2009 2008 2007
risk-free interest rate 1.01% ( 1.01 % ) 4.61% ( 4.61 % ) 4.84% ( 4.84 % )
expected life ( years ) 0.5 0.5 0.5
expected volatility 67.2% ( 67.2 % ) 45.2% ( 45.2 % ) 39.8% ( 39.8 % )
**************************************** | add(5000000, 80068) | 5080068.0 |
in millions for 2016 2015 , and 2014 , what are total equity securities? | Background: ['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis net revenues in equities were $ 7.83 billion for 2015 , 16% ( 16 % ) higher than 2014 .', 'excluding a gain of $ 121 million ( $ 30 million and $ 91 million included in equities client execution and securities services , respectively ) in 2014 related to the extinguishment of certain of our junior subordinated debt , net revenues in equities were 18% ( 18 % ) higher than 2014 , primarily due to significantly higher net revenues in equities client execution across the major regions , reflecting significantly higher results in both derivatives and cash products , and higher net revenues in securities services , reflecting the impact of higher average customer balances and improved securities lending spreads .', 'commissions and fees were essentially unchanged compared with 2014 .', 'we elect the fair value option for certain unsecured borrowings .', 'the fair value net gain attributable to the impact of changes in our credit spreads on these borrowings was $ 255 million ( $ 214 million and $ 41 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2015 , compared with a net gain of $ 144 million ( $ 108 million and $ 36 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2014 .', 'operating expenses were $ 13.94 billion for 2015 , 28% ( 28 % ) higher than 2014 , due to significantly higher net provisions for mortgage-related litigation and regulatory matters , partially offset by decreased compensation and benefits expenses .', 'pre-tax earnings were $ 1.21 billion in 2015 , 72% ( 72 % ) lower than 2014 .', 'investing & lending investing & lending includes our investing activities and the origination of loans , including our relationship lending activities , to provide financing to clients .', 'these investments and loans are typically longer-term in nature .', 'we make investments , some of which are consolidated , directly and indirectly through funds that we manage , in debt securities and loans , public and private equity securities , infrastructure and real estate entities .', 'we also make unsecured loans to individuals through our online platform .', 'the table below presents the operating results of our investing & lending segment. .']
--------
Table:
----------------------------------------
$ in millions | year ended december 2016 | year ended december 2015 | year ended december 2014
equity securities | $ 2573 | $ 3781 | $ 4579
debt securities and loans | 1507 | 1655 | 2246
total net revenues | 4080 | 5436 | 6825
operating expenses | 2386 | 2402 | 2819
pre-tax earnings | $ 1694 | $ 3034 | $ 4006
----------------------------------------
--------
Post-table: ['operating environment .', 'following difficult market conditions and the impact of a challenging macroeconomic environment on corporate performance , particularly in the energy sector , in the first quarter of 2016 , market conditions improved during the rest of the year as macroeconomic concerns moderated .', 'global equity markets increased during 2016 , contributing to net gains from investments in public equities , and corporate performance rebounded from the difficult start to the year .', 'if macroeconomic concerns negatively affect corporate performance or company-specific events , or if global equity markets decline , net revenues in investing & lending would likely be negatively impacted .', 'although net revenues in investing & lending for 2015 benefited from favorable company-specific events , including sales , initial public offerings and financings , a decline in global equity prices and widening high-yield credit spreads during the second half of 2015 impacted results .', '2016 versus 2015 .', 'net revenues in investing & lending were $ 4.08 billion for 2016 , 25% ( 25 % ) lower than 2015 .', 'this decrease was primarily due to significantly lower net revenues from investments in equities , primarily reflecting a significant decrease in net gains from private equities , driven by company-specific events and corporate performance .', 'in addition , net revenues in debt securities and loans were lower compared with 2015 , reflecting significantly lower net revenues related to relationship lending activities , due to the impact of changes in credit spreads on economic hedges .', 'losses related to these hedges were $ 596 million in 2016 , compared with gains of $ 329 million in 2015 .', 'this decrease was partially offset by higher net gains from investments in debt instruments and higher net interest income .', 'see note 9 to the consolidated financial statements for further information about economic hedges related to our relationship lending activities .', 'operating expenses were $ 2.39 billion for 2016 , essentially unchanged compared with 2015 .', 'pre-tax earnings were $ 1.69 billion in 2016 , 44% ( 44 % ) lower than 2015 .', '2015 versus 2014 .', 'net revenues in investing & lending were $ 5.44 billion for 2015 , 20% ( 20 % ) lower than 2014 .', 'this decrease was primarily due to lower net revenues from investments in equities , principally reflecting the sale of metro in the fourth quarter of 2014 and lower net gains from investments in private equities , driven by corporate performance .', 'in addition , net revenues in debt securities and loans were significantly lower , reflecting lower net gains from investments .', 'goldman sachs 2016 form 10-k 63 .'] | 10933.0 | GS/2016/page_77.pdf-2 | ['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis net revenues in equities were $ 7.83 billion for 2015 , 16% ( 16 % ) higher than 2014 .', 'excluding a gain of $ 121 million ( $ 30 million and $ 91 million included in equities client execution and securities services , respectively ) in 2014 related to the extinguishment of certain of our junior subordinated debt , net revenues in equities were 18% ( 18 % ) higher than 2014 , primarily due to significantly higher net revenues in equities client execution across the major regions , reflecting significantly higher results in both derivatives and cash products , and higher net revenues in securities services , reflecting the impact of higher average customer balances and improved securities lending spreads .', 'commissions and fees were essentially unchanged compared with 2014 .', 'we elect the fair value option for certain unsecured borrowings .', 'the fair value net gain attributable to the impact of changes in our credit spreads on these borrowings was $ 255 million ( $ 214 million and $ 41 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2015 , compared with a net gain of $ 144 million ( $ 108 million and $ 36 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2014 .', 'operating expenses were $ 13.94 billion for 2015 , 28% ( 28 % ) higher than 2014 , due to significantly higher net provisions for mortgage-related litigation and regulatory matters , partially offset by decreased compensation and benefits expenses .', 'pre-tax earnings were $ 1.21 billion in 2015 , 72% ( 72 % ) lower than 2014 .', 'investing & lending investing & lending includes our investing activities and the origination of loans , including our relationship lending activities , to provide financing to clients .', 'these investments and loans are typically longer-term in nature .', 'we make investments , some of which are consolidated , directly and indirectly through funds that we manage , in debt securities and loans , public and private equity securities , infrastructure and real estate entities .', 'we also make unsecured loans to individuals through our online platform .', 'the table below presents the operating results of our investing & lending segment. .'] | ['operating environment .', 'following difficult market conditions and the impact of a challenging macroeconomic environment on corporate performance , particularly in the energy sector , in the first quarter of 2016 , market conditions improved during the rest of the year as macroeconomic concerns moderated .', 'global equity markets increased during 2016 , contributing to net gains from investments in public equities , and corporate performance rebounded from the difficult start to the year .', 'if macroeconomic concerns negatively affect corporate performance or company-specific events , or if global equity markets decline , net revenues in investing & lending would likely be negatively impacted .', 'although net revenues in investing & lending for 2015 benefited from favorable company-specific events , including sales , initial public offerings and financings , a decline in global equity prices and widening high-yield credit spreads during the second half of 2015 impacted results .', '2016 versus 2015 .', 'net revenues in investing & lending were $ 4.08 billion for 2016 , 25% ( 25 % ) lower than 2015 .', 'this decrease was primarily due to significantly lower net revenues from investments in equities , primarily reflecting a significant decrease in net gains from private equities , driven by company-specific events and corporate performance .', 'in addition , net revenues in debt securities and loans were lower compared with 2015 , reflecting significantly lower net revenues related to relationship lending activities , due to the impact of changes in credit spreads on economic hedges .', 'losses related to these hedges were $ 596 million in 2016 , compared with gains of $ 329 million in 2015 .', 'this decrease was partially offset by higher net gains from investments in debt instruments and higher net interest income .', 'see note 9 to the consolidated financial statements for further information about economic hedges related to our relationship lending activities .', 'operating expenses were $ 2.39 billion for 2016 , essentially unchanged compared with 2015 .', 'pre-tax earnings were $ 1.69 billion in 2016 , 44% ( 44 % ) lower than 2015 .', '2015 versus 2014 .', 'net revenues in investing & lending were $ 5.44 billion for 2015 , 20% ( 20 % ) lower than 2014 .', 'this decrease was primarily due to lower net revenues from investments in equities , principally reflecting the sale of metro in the fourth quarter of 2014 and lower net gains from investments in private equities , driven by corporate performance .', 'in addition , net revenues in debt securities and loans were significantly lower , reflecting lower net gains from investments .', 'goldman sachs 2016 form 10-k 63 .'] | ----------------------------------------
$ in millions | year ended december 2016 | year ended december 2015 | year ended december 2014
equity securities | $ 2573 | $ 3781 | $ 4579
debt securities and loans | 1507 | 1655 | 2246
total net revenues | 4080 | 5436 | 6825
operating expenses | 2386 | 2402 | 2819
pre-tax earnings | $ 1694 | $ 3034 | $ 4006
---------------------------------------- | table_sum(equity securities, none) | 10933.0 |
what is the annual interest expense related to '2022 notes' , in millions? | Context: ['long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2013 included the following : ( in millions ) maturity amount unamortized discount carrying value fair value .']
####
Table:
========================================
( in millions ) | maturity amount | unamortized discount | carrying value | fair value
----------|----------|----------|----------|----------
3.50% ( 3.50 % ) notes due 2014 | $ 1000 | $ 2014 | $ 1000 | $ 1029
1.375% ( 1.375 % ) notes due 2015 | 750 | 2014 | 750 | 759
6.25% ( 6.25 % ) notes due 2017 | 700 | -2 ( 2 ) | 698 | 812
5.00% ( 5.00 % ) notes due 2019 | 1000 | -2 ( 2 ) | 998 | 1140
4.25% ( 4.25 % ) notes due 2021 | 750 | -3 ( 3 ) | 747 | 799
3.375% ( 3.375 % ) notes due 2022 | 750 | -4 ( 4 ) | 746 | 745
total long-term borrowings | $ 4950 | $ -11 ( 11 ) | $ 4939 | $ 5284
========================================
####
Follow-up: ['long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .', '2015 and 2022 notes .', 'in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .', 'these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) .', 'net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes .', 'interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 .', 'the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .', 'the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .', 'the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes .', 'the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes .', 'at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .', '2013 and 2021 notes .', 'in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .', 'these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity .', 'net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .', '( 201cmerrill lynch 201d ) .', 'interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .', 'the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .', 'the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes .', 'the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes .', 'at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .', 'in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) .', 'during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid .', '2012 , 2014 and 2019 notes .', 'in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .', 'these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively .', 'net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes .', 'interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year .', 'these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .', 'these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes .', 'the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes .', 'at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .', '2017 notes .', 'in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .', 'a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes .', 'interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .', 'the 2017 notes may be redeemed prior .'] | 25.3125 | BLK/2013/page_124.pdf-3 | ['long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2013 included the following : ( in millions ) maturity amount unamortized discount carrying value fair value .'] | ['long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .', '2015 and 2022 notes .', 'in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .', 'these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) .', 'net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes .', 'interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 .', 'the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .', 'the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .', 'the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes .', 'the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes .', 'at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .', '2013 and 2021 notes .', 'in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .', 'these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity .', 'net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .', '( 201cmerrill lynch 201d ) .', 'interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .', 'the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .', 'the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes .', 'the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes .', 'at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .', 'in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) .', 'during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid .', '2012 , 2014 and 2019 notes .', 'in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .', 'these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively .', 'net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes .', 'interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year .', 'these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .', 'these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes .', 'the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes .', 'at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .', '2017 notes .', 'in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .', 'a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes .', 'interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .', 'the 2017 notes may be redeemed prior .'] | ========================================
( in millions ) | maturity amount | unamortized discount | carrying value | fair value
----------|----------|----------|----------|----------
3.50% ( 3.50 % ) notes due 2014 | $ 1000 | $ 2014 | $ 1000 | $ 1029
1.375% ( 1.375 % ) notes due 2015 | 750 | 2014 | 750 | 759
6.25% ( 6.25 % ) notes due 2017 | 700 | -2 ( 2 ) | 698 | 812
5.00% ( 5.00 % ) notes due 2019 | 1000 | -2 ( 2 ) | 998 | 1140
4.25% ( 4.25 % ) notes due 2021 | 750 | -3 ( 3 ) | 747 | 799
3.375% ( 3.375 % ) notes due 2022 | 750 | -4 ( 4 ) | 746 | 745
total long-term borrowings | $ 4950 | $ -11 ( 11 ) | $ 4939 | $ 5284
======================================== | multiply(750, 3.375%) | 25.3125 |
what is the estimated yearly amortization expense related to trademarks? | Pre-text: ['table of contents adobe inc .', 'notes to consolidated financial statements ( continued ) the table below represents the preliminary purchase price allocation to the acquired net tangible and intangible assets of marketo based on their estimated fair values as of the acquisition date and the associated estimated useful lives at that date .', 'the fair values assigned to assets acquired and liabilities assumed are based on management 2019s best estimates and assumptions as of the reporting date and are considered preliminary pending finalization of valuation analyses pertaining to intangible assets acquired , deferred revenue and tax liabilities assumed including the calculation of deferred tax assets and liabilities .', '( in thousands ) amount weighted average useful life ( years ) .']
##########
Tabular Data:
----------------------------------------
Row 1: ( in thousands ), amount, weighted average useful life ( years )
Row 2: customer contracts and relationships, $ 576900, 11
Row 3: purchased technology, 444500, 7
Row 4: backlog, 105800, 2
Row 5: non-competition agreements, 12100, 2
Row 6: trademarks, 328500, 9
Row 7: total identifiable intangible assets, 1467800,
Row 8: net liabilities assumed, -191288 ( 191288 ), n/a
Row 9: goodwill ( 1 ), 3459751, n/a
Row 10: total estimated purchase price, $ 4736263,
----------------------------------------
##########
Additional Information: ['_________________________________________ ( 1 ) non-deductible for tax-purposes .', 'identifiable intangible assets 2014customer relationships consist of marketo 2019s contractual relationships and customer loyalty related to their enterprise and commercial customers as well as technology partner relationships .', 'the estimated fair value of the customer contracts and relationships was determined based on projected cash flows attributable to the asset .', 'purchased technology acquired primarily consists of marketo 2019s cloud-based engagement marketing software platform .', 'the estimated fair value of the purchased technology was determined based on the expected future cost savings resulting from ownership of the asset .', 'backlog relates to subscription contracts and professional services .', 'non-compete agreements include agreements with key marketo employees that preclude them from competing against marketo for a period of two years from the acquisition date .', 'trademarks include the marketo trade name , which is well known in the marketing ecosystem .', 'we amortize the fair value of these intangible assets on a straight-line basis over their respective estimated useful lives .', 'goodwill 2014approximately $ 3.46 billion has been allocated to goodwill , and has been allocated in full to the digital experience reportable segment .', 'goodwill represents the excess of the purchase price over the fair value of the underlying acquired net tangible and intangible assets .', 'the factors that contributed to the recognition of goodwill included securing buyer-specific synergies that increase revenue and profits and are not otherwise available to a marketplace participant , acquiring a talented workforce and cost savings opportunities .', 'net liabilities assumed 2014marketo 2019s tangible assets and liabilities as of october 31 , 2018 were reviewed and adjusted to their fair value as necessary .', 'the net liabilities assumed included , among other items , $ 100.1 million in accrued expenses , $ 74.8 million in deferred revenue and $ 182.6 million in deferred tax liabilities , which were partially offset by $ 54.9 million in cash and cash equivalents and $ 72.4 million in trade receivables acquired .', 'deferred revenue 2014included in net liabilities assumed is marketo 2019s deferred revenue which represents advance payments from customers related to subscription contracts and professional services .', 'we estimated our obligation related to the deferred revenue using the cost build-up approach .', 'the cost build-up approach determines fair value by estimating the direct and indirect costs related to supporting the obligation plus an assumed operating margin .', 'the sum of the costs and assumed operating profit approximates , in theory , the amount that marketo would be required to pay a third party to assume the obligation .', 'the estimated costs to fulfill the obligation were based on the near-term projected cost structure for subscription and professional services .', 'as a result , we recorded an adjustment to reduce marketo 2019s carrying value of deferred revenue to $ 74.8 million , which represents our estimate of the fair value of the contractual obligations assumed based on a preliminary valuation. .'] | 36500.0 | ADBE/2018/page_71.pdf-2 | ['table of contents adobe inc .', 'notes to consolidated financial statements ( continued ) the table below represents the preliminary purchase price allocation to the acquired net tangible and intangible assets of marketo based on their estimated fair values as of the acquisition date and the associated estimated useful lives at that date .', 'the fair values assigned to assets acquired and liabilities assumed are based on management 2019s best estimates and assumptions as of the reporting date and are considered preliminary pending finalization of valuation analyses pertaining to intangible assets acquired , deferred revenue and tax liabilities assumed including the calculation of deferred tax assets and liabilities .', '( in thousands ) amount weighted average useful life ( years ) .'] | ['_________________________________________ ( 1 ) non-deductible for tax-purposes .', 'identifiable intangible assets 2014customer relationships consist of marketo 2019s contractual relationships and customer loyalty related to their enterprise and commercial customers as well as technology partner relationships .', 'the estimated fair value of the customer contracts and relationships was determined based on projected cash flows attributable to the asset .', 'purchased technology acquired primarily consists of marketo 2019s cloud-based engagement marketing software platform .', 'the estimated fair value of the purchased technology was determined based on the expected future cost savings resulting from ownership of the asset .', 'backlog relates to subscription contracts and professional services .', 'non-compete agreements include agreements with key marketo employees that preclude them from competing against marketo for a period of two years from the acquisition date .', 'trademarks include the marketo trade name , which is well known in the marketing ecosystem .', 'we amortize the fair value of these intangible assets on a straight-line basis over their respective estimated useful lives .', 'goodwill 2014approximately $ 3.46 billion has been allocated to goodwill , and has been allocated in full to the digital experience reportable segment .', 'goodwill represents the excess of the purchase price over the fair value of the underlying acquired net tangible and intangible assets .', 'the factors that contributed to the recognition of goodwill included securing buyer-specific synergies that increase revenue and profits and are not otherwise available to a marketplace participant , acquiring a talented workforce and cost savings opportunities .', 'net liabilities assumed 2014marketo 2019s tangible assets and liabilities as of october 31 , 2018 were reviewed and adjusted to their fair value as necessary .', 'the net liabilities assumed included , among other items , $ 100.1 million in accrued expenses , $ 74.8 million in deferred revenue and $ 182.6 million in deferred tax liabilities , which were partially offset by $ 54.9 million in cash and cash equivalents and $ 72.4 million in trade receivables acquired .', 'deferred revenue 2014included in net liabilities assumed is marketo 2019s deferred revenue which represents advance payments from customers related to subscription contracts and professional services .', 'we estimated our obligation related to the deferred revenue using the cost build-up approach .', 'the cost build-up approach determines fair value by estimating the direct and indirect costs related to supporting the obligation plus an assumed operating margin .', 'the sum of the costs and assumed operating profit approximates , in theory , the amount that marketo would be required to pay a third party to assume the obligation .', 'the estimated costs to fulfill the obligation were based on the near-term projected cost structure for subscription and professional services .', 'as a result , we recorded an adjustment to reduce marketo 2019s carrying value of deferred revenue to $ 74.8 million , which represents our estimate of the fair value of the contractual obligations assumed based on a preliminary valuation. .'] | ----------------------------------------
Row 1: ( in thousands ), amount, weighted average useful life ( years )
Row 2: customer contracts and relationships, $ 576900, 11
Row 3: purchased technology, 444500, 7
Row 4: backlog, 105800, 2
Row 5: non-competition agreements, 12100, 2
Row 6: trademarks, 328500, 9
Row 7: total identifiable intangible assets, 1467800,
Row 8: net liabilities assumed, -191288 ( 191288 ), n/a
Row 9: goodwill ( 1 ), 3459751, n/a
Row 10: total estimated purchase price, $ 4736263,
---------------------------------------- | divide(328500, 9) | 36500.0 |
in 2011 what was the average share price applicable to the employee purchases of 2.2 millions | Background: ['defined contribution plan the company and certain subsidiaries have various defined contribution plans , in which all eligible employees may participate .', 'in the u.s. , the 401 ( k ) plan is a contributory plan .', 'matching contributions are based upon the amount of the employees 2019 contributions .', 'after temporarily suspending all matching contributions , effective july 1 , 2010 , the company reinstated matching contributions and provides a dollar for dollar ( 100% ( 100 % ) ) match on the first 4% ( 4 % ) of employee contributions .', 'the maximum matching contribution for 2010 was pro-rated to account for the number of months remaining after the reinstatement .', 'the company 2019s expenses for material defined contribution plans for the years ended december 31 , 2012 , 2011 and 2010 were $ 42 million , $ 48 million and $ 23 million , respectively .', 'beginning january 1 , 2012 , the company may make an additional discretionary 401 ( k ) plan matching contribution to eligible employees .', 'for the year ended december 31 , 2012 , the company made no discretionary matching contributions .', '8 .', 'share-based compensation plans and other incentive plans stock options , stock appreciation rights and employee stock purchase plan the company grants options to acquire shares of common stock to certain employees and to existing option holders of acquired companies in connection with the merging of option plans following an acquisition .', 'each option granted and stock appreciation right has an exercise price of no less than 100% ( 100 % ) of the fair market value of the common stock on the date of the grant .', 'the awards have a contractual life of five to ten years and vest over two to four years .', 'stock options and stock appreciation rights assumed or replaced with comparable stock options or stock appreciation rights in conjunction with a change in control of the company only become exercisable if the holder is also involuntarily terminated ( for a reason other than cause ) or quits for good reason within 24 months of a change in control .', 'the employee stock purchase plan allows eligible participants to purchase shares of the company 2019s common stock through payroll deductions of up to 20% ( 20 % ) of eligible compensation on an after-tax basis .', 'plan participants cannot purchase more than $ 25000 of stock in any calendar year .', 'the price an employee pays per share is 85% ( 85 % ) of the lower of the fair market value of the company 2019s stock on the close of the first trading day or last trading day of the purchase period .', 'the plan has two purchase periods , the first one from october 1 through march 31 and the second one from april 1 through september 30 .', 'for the years ended december 31 , 2012 , 2011 and 2010 , employees purchased 1.4 million , 2.2 million and 2.7 million shares , respectively , at purchase prices of $ 34.52 and $ 42.96 , $ 30.56 and $ 35.61 , and $ 41.79 and $ 42.00 , respectively .', 'the company calculates the value of each employee stock option , estimated on the date of grant , using the black-scholes option pricing model .', 'the weighted-average estimated fair value of employee stock options granted during 2012 , 2011 and 2010 was $ 9.60 , $ 13.25 and $ 21.43 , respectively , using the following weighted-average assumptions: .']
--
Table:
========================================
2012 2011 2010
expected volatility 24.0% ( 24.0 % ) 28.8% ( 28.8 % ) 41.7% ( 41.7 % )
risk-free interest rate 0.8% ( 0.8 % ) 2.1% ( 2.1 % ) 2.1% ( 2.1 % )
dividend yield 2.2% ( 2.2 % ) 0.0% ( 0.0 % ) 0.0% ( 0.0 % )
expected life ( years ) 6.1 6.0 6.1
========================================
--
Post-table: ['the company uses the implied volatility for traded options on the company 2019s stock as the expected volatility assumption required in the black-scholes model .', 'the selection of the implied volatility approach was based upon the availability of actively traded options on the company 2019s stock and the company 2019s assessment that implied volatility is more representative of future stock price trends than historical volatility .', 'the risk-free interest rate assumption is based upon the average daily closing rates during the year for u.s .', 'treasury notes that have a life which approximates the expected life of the option .', 'the dividend yield assumption is based on the company 2019s future expectation of dividend payouts .', 'the expected life of employee stock options represents the average of the contractual term of the options and the weighted-average vesting period for all option tranches .', 'the company has applied forfeiture rates , estimated based on historical data , of 13%-50% ( 13%-50 % ) to the option fair values calculated by the black-scholes option pricing model .', 'these estimated forfeiture rates are applied to grants based on their remaining vesting term and may be revised in subsequent periods if actual forfeitures differ from these estimates. .'] | 33.085 | MSI/2012/page_87.pdf-3 | ['defined contribution plan the company and certain subsidiaries have various defined contribution plans , in which all eligible employees may participate .', 'in the u.s. , the 401 ( k ) plan is a contributory plan .', 'matching contributions are based upon the amount of the employees 2019 contributions .', 'after temporarily suspending all matching contributions , effective july 1 , 2010 , the company reinstated matching contributions and provides a dollar for dollar ( 100% ( 100 % ) ) match on the first 4% ( 4 % ) of employee contributions .', 'the maximum matching contribution for 2010 was pro-rated to account for the number of months remaining after the reinstatement .', 'the company 2019s expenses for material defined contribution plans for the years ended december 31 , 2012 , 2011 and 2010 were $ 42 million , $ 48 million and $ 23 million , respectively .', 'beginning january 1 , 2012 , the company may make an additional discretionary 401 ( k ) plan matching contribution to eligible employees .', 'for the year ended december 31 , 2012 , the company made no discretionary matching contributions .', '8 .', 'share-based compensation plans and other incentive plans stock options , stock appreciation rights and employee stock purchase plan the company grants options to acquire shares of common stock to certain employees and to existing option holders of acquired companies in connection with the merging of option plans following an acquisition .', 'each option granted and stock appreciation right has an exercise price of no less than 100% ( 100 % ) of the fair market value of the common stock on the date of the grant .', 'the awards have a contractual life of five to ten years and vest over two to four years .', 'stock options and stock appreciation rights assumed or replaced with comparable stock options or stock appreciation rights in conjunction with a change in control of the company only become exercisable if the holder is also involuntarily terminated ( for a reason other than cause ) or quits for good reason within 24 months of a change in control .', 'the employee stock purchase plan allows eligible participants to purchase shares of the company 2019s common stock through payroll deductions of up to 20% ( 20 % ) of eligible compensation on an after-tax basis .', 'plan participants cannot purchase more than $ 25000 of stock in any calendar year .', 'the price an employee pays per share is 85% ( 85 % ) of the lower of the fair market value of the company 2019s stock on the close of the first trading day or last trading day of the purchase period .', 'the plan has two purchase periods , the first one from october 1 through march 31 and the second one from april 1 through september 30 .', 'for the years ended december 31 , 2012 , 2011 and 2010 , employees purchased 1.4 million , 2.2 million and 2.7 million shares , respectively , at purchase prices of $ 34.52 and $ 42.96 , $ 30.56 and $ 35.61 , and $ 41.79 and $ 42.00 , respectively .', 'the company calculates the value of each employee stock option , estimated on the date of grant , using the black-scholes option pricing model .', 'the weighted-average estimated fair value of employee stock options granted during 2012 , 2011 and 2010 was $ 9.60 , $ 13.25 and $ 21.43 , respectively , using the following weighted-average assumptions: .'] | ['the company uses the implied volatility for traded options on the company 2019s stock as the expected volatility assumption required in the black-scholes model .', 'the selection of the implied volatility approach was based upon the availability of actively traded options on the company 2019s stock and the company 2019s assessment that implied volatility is more representative of future stock price trends than historical volatility .', 'the risk-free interest rate assumption is based upon the average daily closing rates during the year for u.s .', 'treasury notes that have a life which approximates the expected life of the option .', 'the dividend yield assumption is based on the company 2019s future expectation of dividend payouts .', 'the expected life of employee stock options represents the average of the contractual term of the options and the weighted-average vesting period for all option tranches .', 'the company has applied forfeiture rates , estimated based on historical data , of 13%-50% ( 13%-50 % ) to the option fair values calculated by the black-scholes option pricing model .', 'these estimated forfeiture rates are applied to grants based on their remaining vesting term and may be revised in subsequent periods if actual forfeitures differ from these estimates. .'] | ========================================
2012 2011 2010
expected volatility 24.0% ( 24.0 % ) 28.8% ( 28.8 % ) 41.7% ( 41.7 % )
risk-free interest rate 0.8% ( 0.8 % ) 2.1% ( 2.1 % ) 2.1% ( 2.1 % )
dividend yield 2.2% ( 2.2 % ) 0.0% ( 0.0 % ) 0.0% ( 0.0 % )
expected life ( years ) 6.1 6.0 6.1
======================================== | add(30.56, 35.61), divide(#0, const_2) | 33.085 |
what percentage of repurchased stock was purchased in the open market? | Context: ['2022 reed city , michigan 2022 chanhassen , minnesota 2013 bakeries & foodservice segment 2022 hannibal , missouri 2022 joplin , missouri 2013 bakeries & foodservice segment 2022 vineland , new jersey 2022 albuquerque , new mexico 2022 buffalo , new york 2022 martel , ohio 2013 bakeries & foodservice segment 2022 wellston , ohio 2022 murfreesboro , tennessee 2022 milwaukee , wisconsin we own flour mills at eight locations : vallejo , california ( not currently operating ) ; vernon , california ; avon , iowa ; minneapolis , minnesota ( 2 ) ; kansas city , missouri ; great falls , montana ; and buffalo , new york .', 'we also operate six terminal grain elevators ( in minnesota and wisconsin , two of which are leased ) , and have country grain elevators in seven locations ( primarily in idaho ) , plus additional seasonal elevators ( primarily in idaho ) .', 'we also own or lease warehouse space aggregating approximately 12.2 million square feet , of which approxi- mately 9.6 million square feet are leased .', 'we lease a number of sales and administrative offices in the united states , canada and elsewhere around the world , totaling approxi- mately 2.8 million square feet .', 'item 3 legal proceedings we are the subject of various pending or threatened legal actions in the ordinary course of our business .', 'all such matters are subject to many uncertainties and outcomes that are not predictable with assurance .', 'in our manage- ment 2019s opinion , there were no claims or litigation pending as of may 28 , 2006 , that are reasonably likely to have a material adverse effect on our consolidated financial posi- tion or results of operations .', 'item 4 submission of matters to a vote of security holders part ii item 5 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our common stock is listed on the new york stock exchange .', 'on july 14 , 2006 , there were approximately 34675 record holders of our common stock .', 'information regarding the market prices for our common stock and dividend payments for the two most recent fiscal years is set forth in note eighteen to the consolidated financial statements on page 53 in item eight of this report .', 'infor- mation regarding restrictions on our ability to pay dividends in certain situations is set forth in note eight to the consol- idated financial statements on pages 43 and 44 in item eight of this report .', 'the following table sets forth information with respect to shares of our common stock that we purchased during the three fiscal months ended may 28 , 2006 : issuer purchases of equity securities period number of shares purchased ( a ) average price paid per share total number of shares purchased as part of a publicly announced program maximum number of shares that may yet be purchased under the program ( b ) february 27 , 2006 through april 2 , 2006 111772 $ 49.55 2013 2013 april 3 , 2006 through april 30 , 2006 445466 $ 49.06 2013 2013 may 1 , 2006 through may 28 , 2006 1182100 $ 49.79 2013 2013 .']
------
Table:
----------------------------------------
• period, totalnumberof sharespurchased ( a ), averageprice paidper share, total numberof sharespurchased aspart of apubliclyannouncedprogram, maximumnumberof sharesthat may yetbe purchasedundertheprogram ( b )
• february 27 2006 through april 2 2006, 111772, $ 49.55, 2013, 2013
• april 3 2006 through april 30 2006, 445466, $ 49.06, 2013, 2013
• may 1 2006 through may 28 2006, 1182100, $ 49.79, 2013, 2013
• total, 1739338, $ 49.59, 2013, 2013
----------------------------------------
------
Post-table: ['( a ) the total number of shares purchased includes : ( i ) 231500 shares purchased from the esop fund of our 401 ( k ) savings plan ; ( ii ) 8338 shares of restricted stock withheld for the payment of with- holding taxes upon vesting of restricted stock ; and ( iii ) 1499500 shares purchased in the open market .', '( b ) on february 21 , 2000 , we announced that our board of directors autho- rized us to repurchase up to 170 million shares of our common stock to be held in our treasury .', 'the board did not specify a time period or an expiration date for the authorization. .'] | 0.86211 | GIS/2006/page_35.pdf-1 | ['2022 reed city , michigan 2022 chanhassen , minnesota 2013 bakeries & foodservice segment 2022 hannibal , missouri 2022 joplin , missouri 2013 bakeries & foodservice segment 2022 vineland , new jersey 2022 albuquerque , new mexico 2022 buffalo , new york 2022 martel , ohio 2013 bakeries & foodservice segment 2022 wellston , ohio 2022 murfreesboro , tennessee 2022 milwaukee , wisconsin we own flour mills at eight locations : vallejo , california ( not currently operating ) ; vernon , california ; avon , iowa ; minneapolis , minnesota ( 2 ) ; kansas city , missouri ; great falls , montana ; and buffalo , new york .', 'we also operate six terminal grain elevators ( in minnesota and wisconsin , two of which are leased ) , and have country grain elevators in seven locations ( primarily in idaho ) , plus additional seasonal elevators ( primarily in idaho ) .', 'we also own or lease warehouse space aggregating approximately 12.2 million square feet , of which approxi- mately 9.6 million square feet are leased .', 'we lease a number of sales and administrative offices in the united states , canada and elsewhere around the world , totaling approxi- mately 2.8 million square feet .', 'item 3 legal proceedings we are the subject of various pending or threatened legal actions in the ordinary course of our business .', 'all such matters are subject to many uncertainties and outcomes that are not predictable with assurance .', 'in our manage- ment 2019s opinion , there were no claims or litigation pending as of may 28 , 2006 , that are reasonably likely to have a material adverse effect on our consolidated financial posi- tion or results of operations .', 'item 4 submission of matters to a vote of security holders part ii item 5 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our common stock is listed on the new york stock exchange .', 'on july 14 , 2006 , there were approximately 34675 record holders of our common stock .', 'information regarding the market prices for our common stock and dividend payments for the two most recent fiscal years is set forth in note eighteen to the consolidated financial statements on page 53 in item eight of this report .', 'infor- mation regarding restrictions on our ability to pay dividends in certain situations is set forth in note eight to the consol- idated financial statements on pages 43 and 44 in item eight of this report .', 'the following table sets forth information with respect to shares of our common stock that we purchased during the three fiscal months ended may 28 , 2006 : issuer purchases of equity securities period number of shares purchased ( a ) average price paid per share total number of shares purchased as part of a publicly announced program maximum number of shares that may yet be purchased under the program ( b ) february 27 , 2006 through april 2 , 2006 111772 $ 49.55 2013 2013 april 3 , 2006 through april 30 , 2006 445466 $ 49.06 2013 2013 may 1 , 2006 through may 28 , 2006 1182100 $ 49.79 2013 2013 .'] | ['( a ) the total number of shares purchased includes : ( i ) 231500 shares purchased from the esop fund of our 401 ( k ) savings plan ; ( ii ) 8338 shares of restricted stock withheld for the payment of with- holding taxes upon vesting of restricted stock ; and ( iii ) 1499500 shares purchased in the open market .', '( b ) on february 21 , 2000 , we announced that our board of directors autho- rized us to repurchase up to 170 million shares of our common stock to be held in our treasury .', 'the board did not specify a time period or an expiration date for the authorization. .'] | ----------------------------------------
• period, totalnumberof sharespurchased ( a ), averageprice paidper share, total numberof sharespurchased aspart of apubliclyannouncedprogram, maximumnumberof sharesthat may yetbe purchasedundertheprogram ( b )
• february 27 2006 through april 2 2006, 111772, $ 49.55, 2013, 2013
• april 3 2006 through april 30 2006, 445466, $ 49.06, 2013, 2013
• may 1 2006 through may 28 2006, 1182100, $ 49.79, 2013, 2013
• total, 1739338, $ 49.59, 2013, 2013
---------------------------------------- | divide(1499500, 1739338) | 0.86211 |
what percentage of total capital expenditures were attributed to north america e&p in 2014? | Background: ['additions to property , plant and equipment are our most significant use of cash and cash equivalents .', 'the following table shows capital expenditures related to continuing operations by segment and reconciles to additions to property , plant and equipment as presented in the consolidated statements of cash flows for 2014 , 2013 and 2012: .']
######
Data Table:
----------------------------------------
Row 1: ( in millions ), year ended december 31 , 2014, year ended december 31 , 2013, year ended december 31 , 2012
Row 2: north america e&p, $ 4698, $ 3649, $ 3988
Row 3: international e&p, 534, 456, 235
Row 4: oil sands mining, 212, 286, 188
Row 5: corporate, 51, 58, 115
Row 6: total capital expenditures, 5495, 4449, 4526
Row 7: change in capital expenditure accrual, -335 ( 335 ), -6 ( 6 ), -165 ( 165 )
Row 8: additions to property plant and equipment, $ 5160, $ 4443, $ 4361
----------------------------------------
######
Post-table: ['as of december 31 , 2014 , we had repurchased a total of 121 million common shares at a cost of $ 4.7 billion , including 29 million shares at a cost of $ 1 billion in the first six months of 2014 and 14 million shares at a cost of $ 500 million in the third quarter of 2013 .', 'see item 8 .', 'financial statements and supplementary data 2013 note 22 to the consolidated financial statements for discussion of purchases of common stock .', 'liquidity and capital resources our main sources of liquidity are cash and cash equivalents , internally generated cash flow from operations , continued access to capital markets , our committed revolving credit facility and sales of non-strategic assets .', 'our working capital requirements are supported by these sources and we may issue commercial paper backed by our $ 2.5 billion revolving credit facility to meet short-term cash requirements .', 'because of the alternatives available to us as discussed above and access to capital markets through the shelf registration discussed below , we believe that our short-term and long-term liquidity is adequate to fund not only our current operations , but also our near-term and long-term funding requirements including our capital spending programs , dividend payments , defined benefit plan contributions , repayment of debt maturities and other amounts that may ultimately be paid in connection with contingencies .', 'at december 31 , 2014 , we had approximately $ 4.9 billion of liquidity consisting of $ 2.4 billion in cash and cash equivalents and $ 2.5 billion availability under our revolving credit facility .', 'as discussed in more detail below in 201coutlook 201d , we are targeting a $ 3.5 billion budget for 2015 .', 'based on our projected 2015 cash outlays for our capital program and dividends , we expect to outspend our cash flows from operations for the year .', 'we will be constantly monitoring our available liquidity during 2015 and we have the flexibility to adjust our budget throughout the year in response to the commodity price environment .', 'we will also continue to drive the fundamentals of expense management , including organizational capacity and operational reliability .', 'capital resources credit arrangements and borrowings in may 2014 , we amended our $ 2.5 billion unsecured revolving credit facility and extended the maturity to may 2019 .', 'see note 16 to the consolidated financial statements for additional terms and rates .', 'at december 31 , 2014 , we had no borrowings against our revolving credit facility and no amounts outstanding under our u.s .', 'commercial paper program that is backed by the revolving credit facility .', 'at december 31 , 2014 , we had $ 6391 million in long-term debt outstanding , and $ 1068 million is due within one year , of which the majority is due in the fourth quarter of 2015 .', 'we do not have any triggers on any of our corporate debt that would cause an event of default in the case of a downgrade of our credit ratings .', 'shelf registration we have a universal shelf registration statement filed with the sec , under which we , as "well-known seasoned issuer" for purposes of sec rules , have the ability to issue and sell an indeterminate amount of various types of debt and equity securities from time to time. .'] | 0.85496 | MRO/2014/page_55.pdf-4 | ['additions to property , plant and equipment are our most significant use of cash and cash equivalents .', 'the following table shows capital expenditures related to continuing operations by segment and reconciles to additions to property , plant and equipment as presented in the consolidated statements of cash flows for 2014 , 2013 and 2012: .'] | ['as of december 31 , 2014 , we had repurchased a total of 121 million common shares at a cost of $ 4.7 billion , including 29 million shares at a cost of $ 1 billion in the first six months of 2014 and 14 million shares at a cost of $ 500 million in the third quarter of 2013 .', 'see item 8 .', 'financial statements and supplementary data 2013 note 22 to the consolidated financial statements for discussion of purchases of common stock .', 'liquidity and capital resources our main sources of liquidity are cash and cash equivalents , internally generated cash flow from operations , continued access to capital markets , our committed revolving credit facility and sales of non-strategic assets .', 'our working capital requirements are supported by these sources and we may issue commercial paper backed by our $ 2.5 billion revolving credit facility to meet short-term cash requirements .', 'because of the alternatives available to us as discussed above and access to capital markets through the shelf registration discussed below , we believe that our short-term and long-term liquidity is adequate to fund not only our current operations , but also our near-term and long-term funding requirements including our capital spending programs , dividend payments , defined benefit plan contributions , repayment of debt maturities and other amounts that may ultimately be paid in connection with contingencies .', 'at december 31 , 2014 , we had approximately $ 4.9 billion of liquidity consisting of $ 2.4 billion in cash and cash equivalents and $ 2.5 billion availability under our revolving credit facility .', 'as discussed in more detail below in 201coutlook 201d , we are targeting a $ 3.5 billion budget for 2015 .', 'based on our projected 2015 cash outlays for our capital program and dividends , we expect to outspend our cash flows from operations for the year .', 'we will be constantly monitoring our available liquidity during 2015 and we have the flexibility to adjust our budget throughout the year in response to the commodity price environment .', 'we will also continue to drive the fundamentals of expense management , including organizational capacity and operational reliability .', 'capital resources credit arrangements and borrowings in may 2014 , we amended our $ 2.5 billion unsecured revolving credit facility and extended the maturity to may 2019 .', 'see note 16 to the consolidated financial statements for additional terms and rates .', 'at december 31 , 2014 , we had no borrowings against our revolving credit facility and no amounts outstanding under our u.s .', 'commercial paper program that is backed by the revolving credit facility .', 'at december 31 , 2014 , we had $ 6391 million in long-term debt outstanding , and $ 1068 million is due within one year , of which the majority is due in the fourth quarter of 2015 .', 'we do not have any triggers on any of our corporate debt that would cause an event of default in the case of a downgrade of our credit ratings .', 'shelf registration we have a universal shelf registration statement filed with the sec , under which we , as "well-known seasoned issuer" for purposes of sec rules , have the ability to issue and sell an indeterminate amount of various types of debt and equity securities from time to time. .'] | ----------------------------------------
Row 1: ( in millions ), year ended december 31 , 2014, year ended december 31 , 2013, year ended december 31 , 2012
Row 2: north america e&p, $ 4698, $ 3649, $ 3988
Row 3: international e&p, 534, 456, 235
Row 4: oil sands mining, 212, 286, 188
Row 5: corporate, 51, 58, 115
Row 6: total capital expenditures, 5495, 4449, 4526
Row 7: change in capital expenditure accrual, -335 ( 335 ), -6 ( 6 ), -165 ( 165 )
Row 8: additions to property plant and equipment, $ 5160, $ 4443, $ 4361
---------------------------------------- | divide(4698, 5495) | 0.85496 |
the loss on datacenter and related legal fees are how much of the total year over year change in expenses? | Context: ['recognized total losses and expenses of $ 28.6 million , including a net loss on write-down to fair value of the assets and certain other transaction fees of $ 27.1 million within other expenses and $ 1.5 million of legal and other fees .', '2022 professional fees and outside services expense decreased in 2017 compared to 2016 , largely due to higher legal and regulatory fees in 2016 related to our business activities and product offerings as well as higher professional fees related to a greater reliance on consultants for security and systems enhancement work .', 'the overall decrease in operating expenses in 2017 when compared with 2016 was partially offset by the following increases : 2022 licensing and other fee sharing agreements expense increased due to higher expense resulting from incentive payments made to facilitate the transition of the russell contract open interest , as well as increased costs of revenue sharing agreements for certain licensed products .', 'the overall increase in 2017 was partially offset by lower expense related to revenue sharing agreements for certain equity and energy contracts due to lower volume for these products compared to 2016 .', '2022 compensation and benefits expense increased as a result of higher average headcount primarily in our international locations as well as normal cost of living adjustments .', '2016 compared with 2015 operating expenses increased by $ 54.4 million in 2016 when compared with 2015 .', 'the following table shows the estimated impact of key factors resulting in the net decrease in operating expenses .', '( dollars in millions ) over-year change change as a percentage of 2015 expenses .']
Data Table:
****************************************
( dollars in millions ) | year-over-yearchange | change as apercentage of2015 expenses
loss on datacenter and related legal fees | $ 28.6 | 2% ( 2 % )
professional fees and outside services | 24.4 | 2
foreign currency exchange rate fluctuation | 13.2 | 1
licensing and other fee agreements | 12.0 | 1
reorganization severance and retirement costs | -8.1 ( 8.1 ) | -1 ( 1 )
real estate taxes and fees | -10.0 ( 10.0 ) | -1 ( 1 )
other expenses net | -5.7 ( 5.7 ) | 2014
total | $ 54.4 | 4% ( 4 % )
****************************************
Post-table: ['overall operating expenses increased in 2016 when compared with 2015 due to the following reasons : 2022 in 2016 , we recognized total losses and expenses of $ 28.6 million , including a net loss on write-down to fair value of the assets and certain other transaction fees of $ 27.1 million within other expenses and $ 1.5 million of legal and other fees as a result of our sale and leaseback of our datacenter .', '2022 professional fees and outside services expense increased in 2016 largely due to an increase in legal and regulatory efforts related to our business activities and product offerings as well as an increase in professional fees related to a greater reliance on consultants for security and systems enhancement work .', '2022 in 2016 , we recognized a net loss of $ 24.5 million due to an unfavorable change in exchange rates on foreign cash balances , compared with a net loss of $ 11.3 million in 2015 .', '2022 licensing and other fee sharing agreements expense increased due to higher expense related to revenue sharing agreements for certain equity and energy contracts due to both higher volume and an increase in license rates for certain equity and energy products. .'] | 0.52574 | CME/2017/page_57.pdf-1 | ['recognized total losses and expenses of $ 28.6 million , including a net loss on write-down to fair value of the assets and certain other transaction fees of $ 27.1 million within other expenses and $ 1.5 million of legal and other fees .', '2022 professional fees and outside services expense decreased in 2017 compared to 2016 , largely due to higher legal and regulatory fees in 2016 related to our business activities and product offerings as well as higher professional fees related to a greater reliance on consultants for security and systems enhancement work .', 'the overall decrease in operating expenses in 2017 when compared with 2016 was partially offset by the following increases : 2022 licensing and other fee sharing agreements expense increased due to higher expense resulting from incentive payments made to facilitate the transition of the russell contract open interest , as well as increased costs of revenue sharing agreements for certain licensed products .', 'the overall increase in 2017 was partially offset by lower expense related to revenue sharing agreements for certain equity and energy contracts due to lower volume for these products compared to 2016 .', '2022 compensation and benefits expense increased as a result of higher average headcount primarily in our international locations as well as normal cost of living adjustments .', '2016 compared with 2015 operating expenses increased by $ 54.4 million in 2016 when compared with 2015 .', 'the following table shows the estimated impact of key factors resulting in the net decrease in operating expenses .', '( dollars in millions ) over-year change change as a percentage of 2015 expenses .'] | ['overall operating expenses increased in 2016 when compared with 2015 due to the following reasons : 2022 in 2016 , we recognized total losses and expenses of $ 28.6 million , including a net loss on write-down to fair value of the assets and certain other transaction fees of $ 27.1 million within other expenses and $ 1.5 million of legal and other fees as a result of our sale and leaseback of our datacenter .', '2022 professional fees and outside services expense increased in 2016 largely due to an increase in legal and regulatory efforts related to our business activities and product offerings as well as an increase in professional fees related to a greater reliance on consultants for security and systems enhancement work .', '2022 in 2016 , we recognized a net loss of $ 24.5 million due to an unfavorable change in exchange rates on foreign cash balances , compared with a net loss of $ 11.3 million in 2015 .', '2022 licensing and other fee sharing agreements expense increased due to higher expense related to revenue sharing agreements for certain equity and energy contracts due to both higher volume and an increase in license rates for certain equity and energy products. .'] | ****************************************
( dollars in millions ) | year-over-yearchange | change as apercentage of2015 expenses
loss on datacenter and related legal fees | $ 28.6 | 2% ( 2 % )
professional fees and outside services | 24.4 | 2
foreign currency exchange rate fluctuation | 13.2 | 1
licensing and other fee agreements | 12.0 | 1
reorganization severance and retirement costs | -8.1 ( 8.1 ) | -1 ( 1 )
real estate taxes and fees | -10.0 ( 10.0 ) | -1 ( 1 )
other expenses net | -5.7 ( 5.7 ) | 2014
total | $ 54.4 | 4% ( 4 % )
**************************************** | divide(28.6, 54.4) | 0.52574 |
what portion of the credit allowance was outstanding on december 31 , 2017 ? ( % ( % ) ) | Pre-text: ['all debt and common and preferred stock issuances by entergy texas require prior regulatory approval .', 'debt issuances are also subject to issuance tests set forth in its bond indenture and other agreements .', 'entergy texas has sufficient capacity under these tests to meet its foreseeable capital needs .', 'entergy texas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .']
########
Data Table:
****************************************
2017 | 2016 | 2015 | 2014
( in thousands ) | ( in thousands ) | ( in thousands ) | ( in thousands )
$ 44903 | $ 681 | ( $ 22068 ) | $ 306
****************************************
########
Additional Information: ['see note 4 to the financial statements for a description of the money pool .', 'entergy texas has a credit facility in the amount of $ 150 million scheduled to expire in august 2022 .', 'the credit facility allows entergy texas to issue letters of credit against $ 30 million of the borrowing capacity of the facility .', 'as of december 31 , 2017 , there were no cash borrowings and $ 25.6 million of letters of credit outstanding under the credit facility .', 'in addition , entergy texas is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso .', 'as of december 31 , 2017 , a $ 22.8 million letter of credit was outstanding under entergy texas 2019s letter of credit facility .', 'see note 4 to the financial statements for additional discussion of the credit facilities .', 'entergy texas obtained authorizations from the ferc through october 2019 for short-term borrowings , not to exceed an aggregate amount of $ 200 million at any time outstanding , and long-term borrowings and security issuances .', 'see note 4 to the financial statements for further discussion of entergy texas 2019s short-term borrowing limits .', 'entergy texas , inc .', 'and subsidiaries management 2019s financial discussion and analysis state and local rate regulation and fuel-cost recovery the rates that entergy texas charges for its services significantly influence its financial position , results of operations , and liquidity .', 'entergy texas is regulated and the rates charged to its customers are determined in regulatory proceedings .', 'the puct , a governmental agency , is primarily responsible for approval of the rates charged to customers .', 'filings with the puct 2011 rate case in november 2011 , entergy texas filed a rate case requesting a $ 112 million base rate increase reflecting a 10.6% ( 10.6 % ) return on common equity based on an adjusted june 2011 test year . a0 a0the rate case also proposed a purchased power recovery rider . a0 a0on january 12 , 2012 , the puct voted not to address the purchased power recovery rider in the rate case , but the puct voted to set a baseline in the rate case proceeding that would be applicable if a purchased power capacity rider is approved in a separate proceeding . a0 a0in april 2012 the puct staff filed direct testimony recommending a base rate increase of $ 66 million and a 9.6% ( 9.6 % ) return on common equity . a0 a0the puct staff , however , subsequently filed a statement of position in the proceeding indicating that it was still evaluating the position it would ultimately take in the case regarding entergy texas 2019s recovery of purchased power capacity costs and entergy texas 2019s proposal to defer its miso transition expenses . a0 a0in april 2012 , entergy texas filed rebuttal testimony indicating a revised request for a $ 105 million base rate increase . a0 a0a hearing was held in late-april through early-may 2012 .', 'in september 2012 the puct issued an order approving a $ 28 million rate increase , effective july 2012 . a0 a0the order included a finding that 201ca return on common equity ( roe ) of 9.80 percent will allow [entergy texas] a reasonable opportunity to earn a reasonable return on invested capital . 201d a0 a0the order also provided for increases in depreciation rates and the annual storm reserve accrual . a0 a0the order also reduced entergy texas 2019s proposed purchased power capacity costs , stating that they are not known and measurable ; reduced entergy texas 2019s regulatory assets associated with hurricane rita ; excluded from rate recovery capitalized financially-based incentive compensation ; included $ 1.6 million of miso transition expense in base rates ; and reduced entergy 2019s texas 2019s fuel reconciliation recovery by $ 4 .'] | 0.85333 | ETR/2017/page_422.pdf-1 | ['all debt and common and preferred stock issuances by entergy texas require prior regulatory approval .', 'debt issuances are also subject to issuance tests set forth in its bond indenture and other agreements .', 'entergy texas has sufficient capacity under these tests to meet its foreseeable capital needs .', 'entergy texas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .'] | ['see note 4 to the financial statements for a description of the money pool .', 'entergy texas has a credit facility in the amount of $ 150 million scheduled to expire in august 2022 .', 'the credit facility allows entergy texas to issue letters of credit against $ 30 million of the borrowing capacity of the facility .', 'as of december 31 , 2017 , there were no cash borrowings and $ 25.6 million of letters of credit outstanding under the credit facility .', 'in addition , entergy texas is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso .', 'as of december 31 , 2017 , a $ 22.8 million letter of credit was outstanding under entergy texas 2019s letter of credit facility .', 'see note 4 to the financial statements for additional discussion of the credit facilities .', 'entergy texas obtained authorizations from the ferc through october 2019 for short-term borrowings , not to exceed an aggregate amount of $ 200 million at any time outstanding , and long-term borrowings and security issuances .', 'see note 4 to the financial statements for further discussion of entergy texas 2019s short-term borrowing limits .', 'entergy texas , inc .', 'and subsidiaries management 2019s financial discussion and analysis state and local rate regulation and fuel-cost recovery the rates that entergy texas charges for its services significantly influence its financial position , results of operations , and liquidity .', 'entergy texas is regulated and the rates charged to its customers are determined in regulatory proceedings .', 'the puct , a governmental agency , is primarily responsible for approval of the rates charged to customers .', 'filings with the puct 2011 rate case in november 2011 , entergy texas filed a rate case requesting a $ 112 million base rate increase reflecting a 10.6% ( 10.6 % ) return on common equity based on an adjusted june 2011 test year . a0 a0the rate case also proposed a purchased power recovery rider . a0 a0on january 12 , 2012 , the puct voted not to address the purchased power recovery rider in the rate case , but the puct voted to set a baseline in the rate case proceeding that would be applicable if a purchased power capacity rider is approved in a separate proceeding . a0 a0in april 2012 the puct staff filed direct testimony recommending a base rate increase of $ 66 million and a 9.6% ( 9.6 % ) return on common equity . a0 a0the puct staff , however , subsequently filed a statement of position in the proceeding indicating that it was still evaluating the position it would ultimately take in the case regarding entergy texas 2019s recovery of purchased power capacity costs and entergy texas 2019s proposal to defer its miso transition expenses . a0 a0in april 2012 , entergy texas filed rebuttal testimony indicating a revised request for a $ 105 million base rate increase . a0 a0a hearing was held in late-april through early-may 2012 .', 'in september 2012 the puct issued an order approving a $ 28 million rate increase , effective july 2012 . a0 a0the order included a finding that 201ca return on common equity ( roe ) of 9.80 percent will allow [entergy texas] a reasonable opportunity to earn a reasonable return on invested capital . 201d a0 a0the order also provided for increases in depreciation rates and the annual storm reserve accrual . a0 a0the order also reduced entergy texas 2019s proposed purchased power capacity costs , stating that they are not known and measurable ; reduced entergy texas 2019s regulatory assets associated with hurricane rita ; excluded from rate recovery capitalized financially-based incentive compensation ; included $ 1.6 million of miso transition expense in base rates ; and reduced entergy 2019s texas 2019s fuel reconciliation recovery by $ 4 .'] | ****************************************
2017 | 2016 | 2015 | 2014
( in thousands ) | ( in thousands ) | ( in thousands ) | ( in thousands )
$ 44903 | $ 681 | ( $ 22068 ) | $ 306
**************************************** | divide(25.6, 30) | 0.85333 |
what was the percentage change in cash provided by operating activities between 2004 and 2005? | Background: ['liquidity and capital resources as of december 31 , 2006 , our principal sources of liquidity included cash , cash equivalents , the sale of receivables , and our revolving credit facilities , as well as the availability of commercial paper and other sources of financing through the capital markets .', 'we had $ 2 billion of committed credit facilities available , of which there were no borrowings outstanding as of december 31 , 2006 , and we did not make any short-term borrowings under these facilities during the year .', 'the value of the outstanding undivided interest held by investors under the sale of receivables program was $ 600 million as of december 31 , 2006 .', 'the sale of receivables program is subject to certain requirements , including the maintenance of an investment grade bond rating .', 'if our bond rating were to deteriorate , it could have an adverse impact on our liquidity .', 'access to commercial paper is dependent on market conditions .', 'deterioration of our operating results or financial condition due to internal or external factors could negatively impact our ability to utilize commercial paper as a source of liquidity .', 'liquidity through the capital markets is also dependent on our financial stability .', 'at both december 31 , 2006 and 2005 , we had a working capital deficit of approximately $ 1.1 billion .', 'a working capital deficit is common in our industry and does not indicate a lack of liquidity .', 'we maintain adequate resources to meet our daily cash requirements , and we have sufficient financial capacity to satisfy our current liabilities .', 'financial condition cash flows millions of dollars 2006 2005 2004 .']
####
Data Table:
Row 1: cash flowsmillions of dollars, 2006, 2005, 2004
Row 2: cash provided by operating activities, $ 2880, $ 2595, $ 2257
Row 3: cash used in investing activities, -2042 ( 2042 ), -2047 ( 2047 ), -1732 ( 1732 )
Row 4: cash used in financing activities, -784 ( 784 ), -752 ( 752 ), -75 ( 75 )
Row 5: net change in cash and cash equivalents, $ 54, $ -204 ( 204 ), $ 450
####
Follow-up: ['cash provided by operating activities 2013 higher income in 2006 generated the increased cash provided by operating activities , which was partially offset by higher income tax payments , $ 150 million in voluntary pension contributions , higher material and supply inventories , and higher management incentive payments in 2006 .', 'higher income , lower management incentive payments in 2005 ( executive bonuses , which would have been paid to individuals in 2005 , were not awarded based on company performance in 2004 and bonuses for the professional workforce that were paid out in 2005 were significantly reduced ) , and working capital performance generated higher cash from operating activities in 2005 .', 'a voluntary pension contribution of $ 100 million in 2004 also augmented the positive year-over-year variance in 2005 as no pension contribution was made in 2005 .', 'this improvement was partially offset by cash received in 2004 for income tax refunds .', 'cash used in investing activities 2013 an insurance settlement for the 2005 january west coast storm and lower balances for work in process decreased the amount of cash used in investing activities in 2006 .', 'higher capital investments and lower proceeds from asset sales partially offset this decrease .', 'increased capital spending , partially offset by higher proceeds from asset sales , increased the amount of cash used in investing activities in 2005 compared to 2004 .', 'cash used in financing activities 2013 the increase in cash used in financing activities primarily resulted from lower net proceeds from equity compensation plans ( $ 189 million in 2006 compared to $ 262 million in 2005 ) .', 'the increase in 2005 results from debt issuances in 2004 and higher debt repayments in 2005 .', 'we did not issue debt in 2005 versus $ 745 million of debt issuances in 2004 , and we repaid $ 699 million of debt in 2005 compared to $ 588 million in 2004 .', 'the higher outflows in 2005 were partially offset by higher net proceeds from equity compensation plans ( $ 262 million in 2005 compared to $ 80 million in 2004 ) . .'] | 0.14976 | UNP/2006/page_36.pdf-4 | ['liquidity and capital resources as of december 31 , 2006 , our principal sources of liquidity included cash , cash equivalents , the sale of receivables , and our revolving credit facilities , as well as the availability of commercial paper and other sources of financing through the capital markets .', 'we had $ 2 billion of committed credit facilities available , of which there were no borrowings outstanding as of december 31 , 2006 , and we did not make any short-term borrowings under these facilities during the year .', 'the value of the outstanding undivided interest held by investors under the sale of receivables program was $ 600 million as of december 31 , 2006 .', 'the sale of receivables program is subject to certain requirements , including the maintenance of an investment grade bond rating .', 'if our bond rating were to deteriorate , it could have an adverse impact on our liquidity .', 'access to commercial paper is dependent on market conditions .', 'deterioration of our operating results or financial condition due to internal or external factors could negatively impact our ability to utilize commercial paper as a source of liquidity .', 'liquidity through the capital markets is also dependent on our financial stability .', 'at both december 31 , 2006 and 2005 , we had a working capital deficit of approximately $ 1.1 billion .', 'a working capital deficit is common in our industry and does not indicate a lack of liquidity .', 'we maintain adequate resources to meet our daily cash requirements , and we have sufficient financial capacity to satisfy our current liabilities .', 'financial condition cash flows millions of dollars 2006 2005 2004 .'] | ['cash provided by operating activities 2013 higher income in 2006 generated the increased cash provided by operating activities , which was partially offset by higher income tax payments , $ 150 million in voluntary pension contributions , higher material and supply inventories , and higher management incentive payments in 2006 .', 'higher income , lower management incentive payments in 2005 ( executive bonuses , which would have been paid to individuals in 2005 , were not awarded based on company performance in 2004 and bonuses for the professional workforce that were paid out in 2005 were significantly reduced ) , and working capital performance generated higher cash from operating activities in 2005 .', 'a voluntary pension contribution of $ 100 million in 2004 also augmented the positive year-over-year variance in 2005 as no pension contribution was made in 2005 .', 'this improvement was partially offset by cash received in 2004 for income tax refunds .', 'cash used in investing activities 2013 an insurance settlement for the 2005 january west coast storm and lower balances for work in process decreased the amount of cash used in investing activities in 2006 .', 'higher capital investments and lower proceeds from asset sales partially offset this decrease .', 'increased capital spending , partially offset by higher proceeds from asset sales , increased the amount of cash used in investing activities in 2005 compared to 2004 .', 'cash used in financing activities 2013 the increase in cash used in financing activities primarily resulted from lower net proceeds from equity compensation plans ( $ 189 million in 2006 compared to $ 262 million in 2005 ) .', 'the increase in 2005 results from debt issuances in 2004 and higher debt repayments in 2005 .', 'we did not issue debt in 2005 versus $ 745 million of debt issuances in 2004 , and we repaid $ 699 million of debt in 2005 compared to $ 588 million in 2004 .', 'the higher outflows in 2005 were partially offset by higher net proceeds from equity compensation plans ( $ 262 million in 2005 compared to $ 80 million in 2004 ) . .'] | Row 1: cash flowsmillions of dollars, 2006, 2005, 2004
Row 2: cash provided by operating activities, $ 2880, $ 2595, $ 2257
Row 3: cash used in investing activities, -2042 ( 2042 ), -2047 ( 2047 ), -1732 ( 1732 )
Row 4: cash used in financing activities, -784 ( 784 ), -752 ( 752 ), -75 ( 75 )
Row 5: net change in cash and cash equivalents, $ 54, $ -204 ( 204 ), $ 450 | subtract(2595, 2257), divide(#0, 2257) | 0.14976 |
in 2009 what was the change in the allowance for doubtful accounts | Pre-text: ['in our primary disbursement accounts which were reclassified as accounts payable and other accrued liabilities on our consolidated balance sheet .', 'concentration of credit risk financial instruments that potentially subject us to concentrations of credit risk consist of cash and cash equivalents , trade accounts receivable and derivative instruments .', 'we place our cash and cash equivalents with high quality financial institutions .', 'such balances may be in excess of fdic insured limits .', 'in order to manage the related credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .', 'concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .', 'we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico .', 'we perform ongoing credit evaluations of our customers , but do not require collateral to support customer receivables .', 'we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .', 'no customer exceeded 5% ( 5 % ) of our outstanding accounts receivable balance at december 31 , 2009 or 2008 .', 'accounts receivable , net of allowance for doubtful accounts accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services .', 'our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .', 'the carrying value of our receivables , net of the allowance for doubtful accounts , represents their estimated net realizable value .', 'provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .', 'we also review outstanding balances on an account-specific basis .', 'in general , reserves are provided for accounts receivable in excess of ninety days old .', 'past due receivable balances are written-off when our collection efforts have been unsuccess- ful in collecting amounts due .', 'the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31 , 2009 , 2008 and 2007: .']
Data Table:
****************************************
, 2009, 2008, 2007
balance at beginning of year, $ 65.7, $ 14.7, $ 18.8
additions charged to expense, 27.3, 36.5, 3.9
accounts written-off, -37.8 ( 37.8 ), -12.7 ( 12.7 ), -7.8 ( 7.8 )
acquisitions, -, 27.2, -0.2 ( 0.2 )
balance at end of year, $ 55.2, $ 65.7, $ 14.7
****************************************
Additional Information: ['subsequent to our acquisition of allied , we recorded a provision for doubtful accounts of $ 14.2 million to adjust the allowance acquired from allied to conform to republic 2019s accounting policies .', 'we also recorded $ 5.4 million to provide for specific bankruptcy exposures in 2008 .', 'in 2007 , we recorded a $ 4.3 million reduction in our allowance for doubtful accounts as a result of refining our estimate of the allowance based on our historical collection experience .', 'restricted cash as of december 31 , 2009 , we had $ 236.6 million of restricted cash , of which $ 93.1 million was proceeds from the issuance of tax-exempt bonds and other tax-exempt financings and will be used to fund capital republic services , inc .', 'and subsidiaries notes to consolidated financial statements , continued .'] | -10.5 | RSG/2009/page_100.pdf-1 | ['in our primary disbursement accounts which were reclassified as accounts payable and other accrued liabilities on our consolidated balance sheet .', 'concentration of credit risk financial instruments that potentially subject us to concentrations of credit risk consist of cash and cash equivalents , trade accounts receivable and derivative instruments .', 'we place our cash and cash equivalents with high quality financial institutions .', 'such balances may be in excess of fdic insured limits .', 'in order to manage the related credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .', 'concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .', 'we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico .', 'we perform ongoing credit evaluations of our customers , but do not require collateral to support customer receivables .', 'we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .', 'no customer exceeded 5% ( 5 % ) of our outstanding accounts receivable balance at december 31 , 2009 or 2008 .', 'accounts receivable , net of allowance for doubtful accounts accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services .', 'our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .', 'the carrying value of our receivables , net of the allowance for doubtful accounts , represents their estimated net realizable value .', 'provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .', 'we also review outstanding balances on an account-specific basis .', 'in general , reserves are provided for accounts receivable in excess of ninety days old .', 'past due receivable balances are written-off when our collection efforts have been unsuccess- ful in collecting amounts due .', 'the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31 , 2009 , 2008 and 2007: .'] | ['subsequent to our acquisition of allied , we recorded a provision for doubtful accounts of $ 14.2 million to adjust the allowance acquired from allied to conform to republic 2019s accounting policies .', 'we also recorded $ 5.4 million to provide for specific bankruptcy exposures in 2008 .', 'in 2007 , we recorded a $ 4.3 million reduction in our allowance for doubtful accounts as a result of refining our estimate of the allowance based on our historical collection experience .', 'restricted cash as of december 31 , 2009 , we had $ 236.6 million of restricted cash , of which $ 93.1 million was proceeds from the issuance of tax-exempt bonds and other tax-exempt financings and will be used to fund capital republic services , inc .', 'and subsidiaries notes to consolidated financial statements , continued .'] | ****************************************
, 2009, 2008, 2007
balance at beginning of year, $ 65.7, $ 14.7, $ 18.8
additions charged to expense, 27.3, 36.5, 3.9
accounts written-off, -37.8 ( 37.8 ), -12.7 ( 12.7 ), -7.8 ( 7.8 )
acquisitions, -, 27.2, -0.2 ( 0.2 )
balance at end of year, $ 55.2, $ 65.7, $ 14.7
**************************************** | add(27.3, -37.8) | -10.5 |
in 2009 what was the company 2019s consolidated net sales in billions | Context: ['management 2019s discussion and analysis of financial condition and results of operations indemnification provisions : in addition , the company may provide indemnifications for losses that result from the breach of general warranties contained in certain commercial , intellectual property and divestiture agreements .', 'historically , the company has not made significant payments under these agreements , nor have there been significant claims asserted against the company .', 'however , there is an increasing risk in relation to intellectual property indemnities given the current legal climate .', 'in indemnification cases , payment by the company is conditioned on the other party making a claim pursuant to the procedures specified in the particular contract , which procedures typically allow the company to challenge the other party 2019s claims .', 'further , the company 2019s obligations under these agreements for indemnification based on breach of representations and warranties are generally limited in terms of duration , typically not more than 24 months , and for amounts not in excess of the contract value , and in some instances the company may have recourse against third parties for certain payments made by the company .', 'legal matters : the company is a defendant in various lawsuits , claims and actions , which arise in the normal course of business .', 'in the opinion of management , the ultimate disposition of these matters will not have a material adverse effect on the company 2019s consolidated financial position , liquidity or results of operations .', 'segment information the following commentary should be read in conjunction with the financial results of each operating business segment as detailed in note 12 , 2018 2018information by segment and geographic region , 2019 2019 to the company 2019s consolidated financial statements .', 'net sales and operating results for the company 2019s three operating business segments for 2009 , 2008 and 2007 are presented below .', 'mobile devices segment the mobile devices segment designs , manufactures , sells and services wireless handsets , including smartphones , with integrated software and accessory products , and licenses intellectual property .', 'in 2009 , the segment 2019s net sales represented 32% ( 32 % ) of the company 2019s consolidated net sales , compared to 40% ( 40 % ) in 2008 and 52% ( 52 % ) in 2007. .']
########
Tabular Data:
( dollars in millions ) | years ended december 31 2009 | years ended december 31 2008 | years ended december 31 2007 | years ended december 31 2009 20142008 | 2008 20142007
----------|----------|----------|----------|----------|----------
segment net sales | $ 7146 | $ 12099 | $ 18988 | ( 41 ) % ( % ) | ( 36 ) % ( % )
operating earnings ( loss ) | -1077 ( 1077 ) | -2199 ( 2199 ) | -1201 ( 1201 ) | ( 51 ) % ( % ) | 83% ( 83 % )
########
Post-table: ['segment results 20142009 compared to 2008 in 2009 , the segment 2019s net sales were $ 7.1 billion , a decrease of 41% ( 41 % ) compared to net sales of $ 12.1 billion in 2008 .', 'the 41% ( 41 % ) decrease in net sales was primarily driven by a 45% ( 45 % ) decrease in unit shipments , partially offset by an 8% ( 8 % ) increase in average selling price ( 2018 2018asp 2019 2019 ) .', 'the segment 2019s net sales were negatively impacted by reduced product offerings in large market segments , particularly 3g products , including smartphones , and the segment 2019s limited product offerings in very low-tier products .', 'on a product technology basis , net sales decreased substantially for gsm , cdma and 3g technologies , partially offset by an increase in net sales for iden technology .', 'on a geographic basis , net sales decreased substantially in latin america , the europe , middle east and african region ( 2018 2018emea 2019 2019 ) and asia and , to a lesser extent , decreased in north america .', 'the segment incurred an operating loss of $ 1.1 billion in 2009 , an improvement of 51% ( 51 % ) compared to an operating loss of $ 2.2 billion in 2008 .', 'the decrease in the operating loss was primarily due to decreases in : ( i ) selling , general and administrative ( 2018 2018sg&a 2019 2019 ) expenses , primarily due to lower marketing expenses and savings from cost-reduction initiatives , ( ii ) research and development ( 2018 2018r&d 2019 2019 ) expenditures , reflecting savings from cost-reduction initiatives , ( iii ) lower excess inventory and other related charges in 2009 than in 2008 , when the charges included a $ 370 million charge due to a decision to consolidate software and silicon platforms , and ( iv ) the absence in 2009 of a comparable $ 150 million charge in 2008 related to settlement of a purchase commitment , partially offset by a decrease in gross margin , driven by the 41% ( 41 % ) decrease in net sales .', 'as a percentage of net sales in 2009 as compared to 2008 , gross margin and r&d expenditures increased and sg&a expenses decreased .', 'the segment 2019s industry typically experiences short life cycles for new products .', 'therefore , it is vital to the segment 2019s success that new , compelling products are continually introduced .', 'accordingly , a strong commitment to .'] | 22.1875 | MSI/2009/page_65.pdf-1 | ['management 2019s discussion and analysis of financial condition and results of operations indemnification provisions : in addition , the company may provide indemnifications for losses that result from the breach of general warranties contained in certain commercial , intellectual property and divestiture agreements .', 'historically , the company has not made significant payments under these agreements , nor have there been significant claims asserted against the company .', 'however , there is an increasing risk in relation to intellectual property indemnities given the current legal climate .', 'in indemnification cases , payment by the company is conditioned on the other party making a claim pursuant to the procedures specified in the particular contract , which procedures typically allow the company to challenge the other party 2019s claims .', 'further , the company 2019s obligations under these agreements for indemnification based on breach of representations and warranties are generally limited in terms of duration , typically not more than 24 months , and for amounts not in excess of the contract value , and in some instances the company may have recourse against third parties for certain payments made by the company .', 'legal matters : the company is a defendant in various lawsuits , claims and actions , which arise in the normal course of business .', 'in the opinion of management , the ultimate disposition of these matters will not have a material adverse effect on the company 2019s consolidated financial position , liquidity or results of operations .', 'segment information the following commentary should be read in conjunction with the financial results of each operating business segment as detailed in note 12 , 2018 2018information by segment and geographic region , 2019 2019 to the company 2019s consolidated financial statements .', 'net sales and operating results for the company 2019s three operating business segments for 2009 , 2008 and 2007 are presented below .', 'mobile devices segment the mobile devices segment designs , manufactures , sells and services wireless handsets , including smartphones , with integrated software and accessory products , and licenses intellectual property .', 'in 2009 , the segment 2019s net sales represented 32% ( 32 % ) of the company 2019s consolidated net sales , compared to 40% ( 40 % ) in 2008 and 52% ( 52 % ) in 2007. .'] | ['segment results 20142009 compared to 2008 in 2009 , the segment 2019s net sales were $ 7.1 billion , a decrease of 41% ( 41 % ) compared to net sales of $ 12.1 billion in 2008 .', 'the 41% ( 41 % ) decrease in net sales was primarily driven by a 45% ( 45 % ) decrease in unit shipments , partially offset by an 8% ( 8 % ) increase in average selling price ( 2018 2018asp 2019 2019 ) .', 'the segment 2019s net sales were negatively impacted by reduced product offerings in large market segments , particularly 3g products , including smartphones , and the segment 2019s limited product offerings in very low-tier products .', 'on a product technology basis , net sales decreased substantially for gsm , cdma and 3g technologies , partially offset by an increase in net sales for iden technology .', 'on a geographic basis , net sales decreased substantially in latin america , the europe , middle east and african region ( 2018 2018emea 2019 2019 ) and asia and , to a lesser extent , decreased in north america .', 'the segment incurred an operating loss of $ 1.1 billion in 2009 , an improvement of 51% ( 51 % ) compared to an operating loss of $ 2.2 billion in 2008 .', 'the decrease in the operating loss was primarily due to decreases in : ( i ) selling , general and administrative ( 2018 2018sg&a 2019 2019 ) expenses , primarily due to lower marketing expenses and savings from cost-reduction initiatives , ( ii ) research and development ( 2018 2018r&d 2019 2019 ) expenditures , reflecting savings from cost-reduction initiatives , ( iii ) lower excess inventory and other related charges in 2009 than in 2008 , when the charges included a $ 370 million charge due to a decision to consolidate software and silicon platforms , and ( iv ) the absence in 2009 of a comparable $ 150 million charge in 2008 related to settlement of a purchase commitment , partially offset by a decrease in gross margin , driven by the 41% ( 41 % ) decrease in net sales .', 'as a percentage of net sales in 2009 as compared to 2008 , gross margin and r&d expenditures increased and sg&a expenses decreased .', 'the segment 2019s industry typically experiences short life cycles for new products .', 'therefore , it is vital to the segment 2019s success that new , compelling products are continually introduced .', 'accordingly , a strong commitment to .'] | ( dollars in millions ) | years ended december 31 2009 | years ended december 31 2008 | years ended december 31 2007 | years ended december 31 2009 20142008 | 2008 20142007
----------|----------|----------|----------|----------|----------
segment net sales | $ 7146 | $ 12099 | $ 18988 | ( 41 ) % ( % ) | ( 36 ) % ( % )
operating earnings ( loss ) | -1077 ( 1077 ) | -2199 ( 2199 ) | -1201 ( 1201 ) | ( 51 ) % ( % ) | 83% ( 83 % ) | divide(7.1, 32%) | 22.1875 |
what percentage of total payments due in 2018 are time deposits? | Pre-text: ['management 2019s discussion and analysis expected replacement of london interbank offered rate central banks around the world , including the federal reserve , have commissioned working groups of market participants and others with the goal of finding suitable replacements for libor based on observable market transac- tions .', 'it is expected that a transition away from the wide- spread use of libor to alternative rates will occur over the course of the next few years .', 'effects of inflation and changes in interest and foreign exchange rates to the extent that an increased inflation outlook results in rising interest rates or has negative impacts on the valuation of financial instruments that exceed the impact on the value of our liabilities , it may adversely affect our financial position and profitability .', 'rising inflation may also result in increases in our non-interest expenses that may not be readily recover- able in higher prices of services offered .', 'other changes in the interest rate environment and related volatility , as well as expectations about the level of future interest rates , could also impact our results of operations .', 'a significant portion of our business is conducted in curren- cies other than the u.s .', 'dollar , and changes in foreign exchange rates relative to the u.s .', 'dollar , therefore , can affect the value of non-u.s .', 'dollar net assets , revenues and expenses .', 'potential exposures as a result of these fluctuations in currencies are closely monitored , and , where cost-justified , strategies are adopted that are designed to reduce the impact of these fluctuations on our financial performance .', 'these strategies may include the financing of non-u.s .', 'dollar assets with direct or swap-based borrowings in the same currency and the use of currency forward contracts or the spot market in various hedging transactions related to net assets , revenues , expenses or cash flows .', 'for information about cumulative foreign currency translation adjustments , see note 15 to the financial statements .', 'off-balance sheet arrangements and contractual obligations off-balance sheet arrangements we enter into various off-balance sheet arrangements , including through unconsolidated spes and lending-related financial instruments ( e.g. , guarantees and commitments ) , primarily in connection with the institutional securities and investment management business segments .', 'we utilize spes primarily in connection with securitization activities .', 'for information on our securitization activities , see note 13 to the financial statements .', 'for information on our commitments , obligations under certain guarantee arrangements and indemnities , see note 12 to the financial statements .', 'for further information on our lending commitments , see 201cquantitative and qualitative disclosures about market risk 2014risk management 2014credit risk 2014lending activities . 201d contractual obligations in the normal course of business , we enter into various contractual obligations that may require future cash payments .', 'contractual obligations include certain borrow- ings , other secured financings , contractual interest payments , contractual payments on time deposits , operating leases and purchase obligations .', 'contractual obligations at december 31 , 2017 payments due in : $ in millions 2018 2019-2020 2021-2022 thereafter total borrowings1 $ 23870 $ 45963 $ 36649 $ 84581 $ 191063 other secured financings1 4992 3142 153 398 8685 contractual interest payments2 4903 7930 5680 17031 35544 time deposits3 12300 2481 108 129 15018 operating leases 2014premises4 664 1183 938 2639 5424 purchase obligations 598 607 217 197 1619 total5 $ 47327 $ 61306 $ 43745 $ 104975 $ 257353 1 .', 'for further information on borrowings and other secured financings , see note 11 to the financial statements .', 'amounts presented for borrowings and other secured financings are financings with original maturities greater than one year .', '2 .', 'amounts represent estimated future contractual interest payments related to unse- cured borrowings with original maturities greater than one year based on applicable interest rates at december 31 , 2017 .', '3 .', 'amounts represent contractual principal and interest payments related to time deposits primarily held at our u.s .', 'bank subsidiaries .', '4 .', 'for further information on operating leases covering premises and equipment , see note 12 to the financial statements .', '5 .', 'amounts exclude unrecognized tax benefits , as the timing and amount of future cash payments are not determinable at this time ( see note 20 to the financial state- ments for further information ) .', 'purchase obligations for goods and services include payments for , among other things , consulting , outsourcing , computer and telecommunications maintenance agreements , and certain transmission , transportation and storage contracts related to the commodities business .', 'purchase obligations at december 31 , 2017 reflect the minimum contractual obliga- tion under legally enforceable contracts with contract terms that are both fixed and determinable .', 'these amounts exclude obligations for goods and services that already have been incurred and are reflected in the balance sheets .', 'december 2017 form 10-k 70 .']
----
Table:
========================================
Row 1: $ in millions, at december 31 2017 payments due in : 2018, at december 31 2017 payments due in : 2019-2020, at december 31 2017 payments due in : 2021-2022, at december 31 2017 payments due in : thereafter, at december 31 2017 payments due in : total
Row 2: borrowings1, $ 23870, $ 45963, $ 36649, $ 84581, $ 191063
Row 3: other securedfinancings1, 4992, 3142, 153, 398, 8685
Row 4: contractual interest payments2, 4903, 7930, 5680, 17031, 35544
Row 5: timedeposits3, 12300, 2481, 108, 129, 15018
Row 6: operating leases 2014premises4, 664, 1183, 938, 2639, 5424
Row 7: purchase obligations, 598, 607, 217, 197, 1619
Row 8: total5, $ 47327, $ 61306, $ 43745, $ 104975, $ 257353
========================================
----
Follow-up: ['management 2019s discussion and analysis expected replacement of london interbank offered rate central banks around the world , including the federal reserve , have commissioned working groups of market participants and others with the goal of finding suitable replacements for libor based on observable market transac- tions .', 'it is expected that a transition away from the wide- spread use of libor to alternative rates will occur over the course of the next few years .', 'effects of inflation and changes in interest and foreign exchange rates to the extent that an increased inflation outlook results in rising interest rates or has negative impacts on the valuation of financial instruments that exceed the impact on the value of our liabilities , it may adversely affect our financial position and profitability .', 'rising inflation may also result in increases in our non-interest expenses that may not be readily recover- able in higher prices of services offered .', 'other changes in the interest rate environment and related volatility , as well as expectations about the level of future interest rates , could also impact our results of operations .', 'a significant portion of our business is conducted in curren- cies other than the u.s .', 'dollar , and changes in foreign exchange rates relative to the u.s .', 'dollar , therefore , can affect the value of non-u.s .', 'dollar net assets , revenues and expenses .', 'potential exposures as a result of these fluctuations in currencies are closely monitored , and , where cost-justified , strategies are adopted that are designed to reduce the impact of these fluctuations on our financial performance .', 'these strategies may include the financing of non-u.s .', 'dollar assets with direct or swap-based borrowings in the same currency and the use of currency forward contracts or the spot market in various hedging transactions related to net assets , revenues , expenses or cash flows .', 'for information about cumulative foreign currency translation adjustments , see note 15 to the financial statements .', 'off-balance sheet arrangements and contractual obligations off-balance sheet arrangements we enter into various off-balance sheet arrangements , including through unconsolidated spes and lending-related financial instruments ( e.g. , guarantees and commitments ) , primarily in connection with the institutional securities and investment management business segments .', 'we utilize spes primarily in connection with securitization activities .', 'for information on our securitization activities , see note 13 to the financial statements .', 'for information on our commitments , obligations under certain guarantee arrangements and indemnities , see note 12 to the financial statements .', 'for further information on our lending commitments , see 201cquantitative and qualitative disclosures about market risk 2014risk management 2014credit risk 2014lending activities . 201d contractual obligations in the normal course of business , we enter into various contractual obligations that may require future cash payments .', 'contractual obligations include certain borrow- ings , other secured financings , contractual interest payments , contractual payments on time deposits , operating leases and purchase obligations .', 'contractual obligations at december 31 , 2017 payments due in : $ in millions 2018 2019-2020 2021-2022 thereafter total borrowings1 $ 23870 $ 45963 $ 36649 $ 84581 $ 191063 other secured financings1 4992 3142 153 398 8685 contractual interest payments2 4903 7930 5680 17031 35544 time deposits3 12300 2481 108 129 15018 operating leases 2014premises4 664 1183 938 2639 5424 purchase obligations 598 607 217 197 1619 total5 $ 47327 $ 61306 $ 43745 $ 104975 $ 257353 1 .', 'for further information on borrowings and other secured financings , see note 11 to the financial statements .', 'amounts presented for borrowings and other secured financings are financings with original maturities greater than one year .', '2 .', 'amounts represent estimated future contractual interest payments related to unse- cured borrowings with original maturities greater than one year based on applicable interest rates at december 31 , 2017 .', '3 .', 'amounts represent contractual principal and interest payments related to time deposits primarily held at our u.s .', 'bank subsidiaries .', '4 .', 'for further information on operating leases covering premises and equipment , see note 12 to the financial statements .', '5 .', 'amounts exclude unrecognized tax benefits , as the timing and amount of future cash payments are not determinable at this time ( see note 20 to the financial state- ments for further information ) .', 'purchase obligations for goods and services include payments for , among other things , consulting , outsourcing , computer and telecommunications maintenance agreements , and certain transmission , transportation and storage contracts related to the commodities business .', 'purchase obligations at december 31 , 2017 reflect the minimum contractual obliga- tion under legally enforceable contracts with contract terms that are both fixed and determinable .', 'these amounts exclude obligations for goods and services that already have been incurred and are reflected in the balance sheets .', 'december 2017 form 10-k 70 .'] | 0.25989 | MS/2017/page_75.pdf-1 | ['management 2019s discussion and analysis expected replacement of london interbank offered rate central banks around the world , including the federal reserve , have commissioned working groups of market participants and others with the goal of finding suitable replacements for libor based on observable market transac- tions .', 'it is expected that a transition away from the wide- spread use of libor to alternative rates will occur over the course of the next few years .', 'effects of inflation and changes in interest and foreign exchange rates to the extent that an increased inflation outlook results in rising interest rates or has negative impacts on the valuation of financial instruments that exceed the impact on the value of our liabilities , it may adversely affect our financial position and profitability .', 'rising inflation may also result in increases in our non-interest expenses that may not be readily recover- able in higher prices of services offered .', 'other changes in the interest rate environment and related volatility , as well as expectations about the level of future interest rates , could also impact our results of operations .', 'a significant portion of our business is conducted in curren- cies other than the u.s .', 'dollar , and changes in foreign exchange rates relative to the u.s .', 'dollar , therefore , can affect the value of non-u.s .', 'dollar net assets , revenues and expenses .', 'potential exposures as a result of these fluctuations in currencies are closely monitored , and , where cost-justified , strategies are adopted that are designed to reduce the impact of these fluctuations on our financial performance .', 'these strategies may include the financing of non-u.s .', 'dollar assets with direct or swap-based borrowings in the same currency and the use of currency forward contracts or the spot market in various hedging transactions related to net assets , revenues , expenses or cash flows .', 'for information about cumulative foreign currency translation adjustments , see note 15 to the financial statements .', 'off-balance sheet arrangements and contractual obligations off-balance sheet arrangements we enter into various off-balance sheet arrangements , including through unconsolidated spes and lending-related financial instruments ( e.g. , guarantees and commitments ) , primarily in connection with the institutional securities and investment management business segments .', 'we utilize spes primarily in connection with securitization activities .', 'for information on our securitization activities , see note 13 to the financial statements .', 'for information on our commitments , obligations under certain guarantee arrangements and indemnities , see note 12 to the financial statements .', 'for further information on our lending commitments , see 201cquantitative and qualitative disclosures about market risk 2014risk management 2014credit risk 2014lending activities . 201d contractual obligations in the normal course of business , we enter into various contractual obligations that may require future cash payments .', 'contractual obligations include certain borrow- ings , other secured financings , contractual interest payments , contractual payments on time deposits , operating leases and purchase obligations .', 'contractual obligations at december 31 , 2017 payments due in : $ in millions 2018 2019-2020 2021-2022 thereafter total borrowings1 $ 23870 $ 45963 $ 36649 $ 84581 $ 191063 other secured financings1 4992 3142 153 398 8685 contractual interest payments2 4903 7930 5680 17031 35544 time deposits3 12300 2481 108 129 15018 operating leases 2014premises4 664 1183 938 2639 5424 purchase obligations 598 607 217 197 1619 total5 $ 47327 $ 61306 $ 43745 $ 104975 $ 257353 1 .', 'for further information on borrowings and other secured financings , see note 11 to the financial statements .', 'amounts presented for borrowings and other secured financings are financings with original maturities greater than one year .', '2 .', 'amounts represent estimated future contractual interest payments related to unse- cured borrowings with original maturities greater than one year based on applicable interest rates at december 31 , 2017 .', '3 .', 'amounts represent contractual principal and interest payments related to time deposits primarily held at our u.s .', 'bank subsidiaries .', '4 .', 'for further information on operating leases covering premises and equipment , see note 12 to the financial statements .', '5 .', 'amounts exclude unrecognized tax benefits , as the timing and amount of future cash payments are not determinable at this time ( see note 20 to the financial state- ments for further information ) .', 'purchase obligations for goods and services include payments for , among other things , consulting , outsourcing , computer and telecommunications maintenance agreements , and certain transmission , transportation and storage contracts related to the commodities business .', 'purchase obligations at december 31 , 2017 reflect the minimum contractual obliga- tion under legally enforceable contracts with contract terms that are both fixed and determinable .', 'these amounts exclude obligations for goods and services that already have been incurred and are reflected in the balance sheets .', 'december 2017 form 10-k 70 .'] | ['management 2019s discussion and analysis expected replacement of london interbank offered rate central banks around the world , including the federal reserve , have commissioned working groups of market participants and others with the goal of finding suitable replacements for libor based on observable market transac- tions .', 'it is expected that a transition away from the wide- spread use of libor to alternative rates will occur over the course of the next few years .', 'effects of inflation and changes in interest and foreign exchange rates to the extent that an increased inflation outlook results in rising interest rates or has negative impacts on the valuation of financial instruments that exceed the impact on the value of our liabilities , it may adversely affect our financial position and profitability .', 'rising inflation may also result in increases in our non-interest expenses that may not be readily recover- able in higher prices of services offered .', 'other changes in the interest rate environment and related volatility , as well as expectations about the level of future interest rates , could also impact our results of operations .', 'a significant portion of our business is conducted in curren- cies other than the u.s .', 'dollar , and changes in foreign exchange rates relative to the u.s .', 'dollar , therefore , can affect the value of non-u.s .', 'dollar net assets , revenues and expenses .', 'potential exposures as a result of these fluctuations in currencies are closely monitored , and , where cost-justified , strategies are adopted that are designed to reduce the impact of these fluctuations on our financial performance .', 'these strategies may include the financing of non-u.s .', 'dollar assets with direct or swap-based borrowings in the same currency and the use of currency forward contracts or the spot market in various hedging transactions related to net assets , revenues , expenses or cash flows .', 'for information about cumulative foreign currency translation adjustments , see note 15 to the financial statements .', 'off-balance sheet arrangements and contractual obligations off-balance sheet arrangements we enter into various off-balance sheet arrangements , including through unconsolidated spes and lending-related financial instruments ( e.g. , guarantees and commitments ) , primarily in connection with the institutional securities and investment management business segments .', 'we utilize spes primarily in connection with securitization activities .', 'for information on our securitization activities , see note 13 to the financial statements .', 'for information on our commitments , obligations under certain guarantee arrangements and indemnities , see note 12 to the financial statements .', 'for further information on our lending commitments , see 201cquantitative and qualitative disclosures about market risk 2014risk management 2014credit risk 2014lending activities . 201d contractual obligations in the normal course of business , we enter into various contractual obligations that may require future cash payments .', 'contractual obligations include certain borrow- ings , other secured financings , contractual interest payments , contractual payments on time deposits , operating leases and purchase obligations .', 'contractual obligations at december 31 , 2017 payments due in : $ in millions 2018 2019-2020 2021-2022 thereafter total borrowings1 $ 23870 $ 45963 $ 36649 $ 84581 $ 191063 other secured financings1 4992 3142 153 398 8685 contractual interest payments2 4903 7930 5680 17031 35544 time deposits3 12300 2481 108 129 15018 operating leases 2014premises4 664 1183 938 2639 5424 purchase obligations 598 607 217 197 1619 total5 $ 47327 $ 61306 $ 43745 $ 104975 $ 257353 1 .', 'for further information on borrowings and other secured financings , see note 11 to the financial statements .', 'amounts presented for borrowings and other secured financings are financings with original maturities greater than one year .', '2 .', 'amounts represent estimated future contractual interest payments related to unse- cured borrowings with original maturities greater than one year based on applicable interest rates at december 31 , 2017 .', '3 .', 'amounts represent contractual principal and interest payments related to time deposits primarily held at our u.s .', 'bank subsidiaries .', '4 .', 'for further information on operating leases covering premises and equipment , see note 12 to the financial statements .', '5 .', 'amounts exclude unrecognized tax benefits , as the timing and amount of future cash payments are not determinable at this time ( see note 20 to the financial state- ments for further information ) .', 'purchase obligations for goods and services include payments for , among other things , consulting , outsourcing , computer and telecommunications maintenance agreements , and certain transmission , transportation and storage contracts related to the commodities business .', 'purchase obligations at december 31 , 2017 reflect the minimum contractual obliga- tion under legally enforceable contracts with contract terms that are both fixed and determinable .', 'these amounts exclude obligations for goods and services that already have been incurred and are reflected in the balance sheets .', 'december 2017 form 10-k 70 .'] | ========================================
Row 1: $ in millions, at december 31 2017 payments due in : 2018, at december 31 2017 payments due in : 2019-2020, at december 31 2017 payments due in : 2021-2022, at december 31 2017 payments due in : thereafter, at december 31 2017 payments due in : total
Row 2: borrowings1, $ 23870, $ 45963, $ 36649, $ 84581, $ 191063
Row 3: other securedfinancings1, 4992, 3142, 153, 398, 8685
Row 4: contractual interest payments2, 4903, 7930, 5680, 17031, 35544
Row 5: timedeposits3, 12300, 2481, 108, 129, 15018
Row 6: operating leases 2014premises4, 664, 1183, 938, 2639, 5424
Row 7: purchase obligations, 598, 607, 217, 197, 1619
Row 8: total5, $ 47327, $ 61306, $ 43745, $ 104975, $ 257353
======================================== | divide(12300, 47327) | 0.25989 |
based on the above listed holders of common stock , what was the market value of mktx common stock on february 20 , 2015? | Background: ['part ii item 5 .', 'market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .', 'price range our common stock trades on the nasdaq global select market under the symbol 201cmktx 201d .', 'the range of closing price information for our common stock , as reported by nasdaq , was as follows : on february 20 , 2015 , the last reported closing price of our common stock on the nasdaq global select market was $ 78.97 .', 'holders there were 28 holders of record of our common stock as of february 20 , 2015 .', 'dividend policy during 2014 , 2013 and 2012 , we paid quarterly cash dividends of $ 0.16 per share , $ 0.13 per share and $ 0.11 per share , respectively .', 'on december 27 , 2012 , we paid a special cash dividend of $ 1.30 per share .', 'in january 2015 , our board of directors approved a quarterly cash dividend of $ 0.20 per share payable on february 26 , 2015 to stockholders of record as of the close of business on february 12 , 2015 .', 'any future declaration and payment of dividends will be at the sole discretion of our board of directors .', 'the board of directors may take into account such matters as general business conditions , our financial results , capital requirements , contractual obligations , legal and regulatory restrictions on the payment of dividends to our stockholders or by our subsidiaries to their respective parent entities , and such other factors as the board of directors may deem relevant .', 'recent sales of unregistered securities securities authorized for issuance under equity compensation plans please see the section entitled 201cequity compensation plan information 201d in item 12. .']
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Tabular Data:
• 2014:, high, low
• january 1 2014 to march 31 2014, $ 67.16, $ 57.99
• april 1 2014 to june 30 2014, $ 59.65, $ 50.30
• july 1 2014 to september 30 2014, $ 62.05, $ 47.50
• october 1 2014 to december 31 2014, $ 73.25, $ 61.15
• 2013:, high, low
• january 1 2013 to march 31 2013, $ 41.85, $ 34.79
• april 1 2013 to june 30 2013, $ 47.80, $ 37.09
• july 1 2013 to september 30 2013, $ 61.47, $ 47.59
• october 1 2013 to december 31 2013, $ 70.60, $ 61.34
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Follow-up: ['.'] | 2211.16 | MKTX/2014/page_39.pdf-1 | ['part ii item 5 .', 'market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .', 'price range our common stock trades on the nasdaq global select market under the symbol 201cmktx 201d .', 'the range of closing price information for our common stock , as reported by nasdaq , was as follows : on february 20 , 2015 , the last reported closing price of our common stock on the nasdaq global select market was $ 78.97 .', 'holders there were 28 holders of record of our common stock as of february 20 , 2015 .', 'dividend policy during 2014 , 2013 and 2012 , we paid quarterly cash dividends of $ 0.16 per share , $ 0.13 per share and $ 0.11 per share , respectively .', 'on december 27 , 2012 , we paid a special cash dividend of $ 1.30 per share .', 'in january 2015 , our board of directors approved a quarterly cash dividend of $ 0.20 per share payable on february 26 , 2015 to stockholders of record as of the close of business on february 12 , 2015 .', 'any future declaration and payment of dividends will be at the sole discretion of our board of directors .', 'the board of directors may take into account such matters as general business conditions , our financial results , capital requirements , contractual obligations , legal and regulatory restrictions on the payment of dividends to our stockholders or by our subsidiaries to their respective parent entities , and such other factors as the board of directors may deem relevant .', 'recent sales of unregistered securities securities authorized for issuance under equity compensation plans please see the section entitled 201cequity compensation plan information 201d in item 12. .'] | ['.'] | • 2014:, high, low
• january 1 2014 to march 31 2014, $ 67.16, $ 57.99
• april 1 2014 to june 30 2014, $ 59.65, $ 50.30
• july 1 2014 to september 30 2014, $ 62.05, $ 47.50
• october 1 2014 to december 31 2014, $ 73.25, $ 61.15
• 2013:, high, low
• january 1 2013 to march 31 2013, $ 41.85, $ 34.79
• april 1 2013 to june 30 2013, $ 47.80, $ 37.09
• july 1 2013 to september 30 2013, $ 61.47, $ 47.59
• october 1 2013 to december 31 2013, $ 70.60, $ 61.34 | multiply(78.97, 28) | 2211.16 |
what percent of total commercial commitments are credit facilities? | Pre-text: ['amount of commitment expiration per period other commercial commitments after millions total 2012 2013 2014 2015 2016 2016 .']
##
Data Table:
• other commercial commitmentsmillions, total, amount of commitment expiration per period 2012, amount of commitment expiration per period 2013, amount of commitment expiration per period 2014, amount of commitment expiration per period 2015, amount of commitment expiration per period 2016, amount of commitment expiration per period after 2016
• credit facilities [a], $ 1800, $ -, $ -, $ -, $ 1800, $ -, $ -
• receivables securitization facility [b], 600, 600, -, -, -, -, -
• guarantees [c], 325, 18, 8, 214, 12, 13, 60
• standby letters of credit [d], 24, 24, -, -, -, -, -
• total commercialcommitments, $ 2749, $ 642, $ 8, $ 214, $ 1812, $ 13, $ 60
##
Post-table: ['[a] none of the credit facility was used as of december 31 , 2011 .', '[b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2011 , which is accounted for as debt .', 'the full program matures in august 2012 .', '[c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .', '[d] none of the letters of credit were drawn upon as of december 31 , 2011 .', 'off-balance sheet arrangements guarantees 2013 at december 31 , 2011 , we were contingently liable for $ 325 million in guarantees .', 'we have recorded a liability of $ 3 million for the fair value of these obligations as of december 31 , 2011 and 2010 .', 'we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .', 'the final guarantee expires in 2022 .', 'we are not aware of any existing event of default that would require us to satisfy these guarantees .', 'we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .', 'other matters labor agreements 2013 in january 2010 , the nation 2019s largest freight railroads began the current round of negotiations with the labor unions .', 'generally , contract negotiations with the various unions take place over an extended period of time .', 'this round of negotiations was no exception .', 'in september 2011 , the rail industry reached agreements with the united transportation union .', 'on november 5 , 2011 , a presidential emergency board ( peb ) appointed by president obama issued recommendations to resolve the disputes between the u.s .', 'railroads and 11 unions that had not yet reached agreements .', 'since then , ten unions reached agreements with the railroads , all of them generally patterned on the recommendations of the peb , and the unions subsequently ratified these agreements .', 'the railroad industry reached a tentative agreement with the brotherhood of maintenance of way employees ( bmwe ) on february 2 , 2012 , eliminating the immediate threat of a national rail strike .', 'the bmwe now will commence ratification of this tentative agreement by its members .', 'inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies .', 'as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts .', 'derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .', 'we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .', 'derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .', 'we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .', 'changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .', 'we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements. .'] | 0.65478 | UNP/2011/page_41.pdf-4 | ['amount of commitment expiration per period other commercial commitments after millions total 2012 2013 2014 2015 2016 2016 .'] | ['[a] none of the credit facility was used as of december 31 , 2011 .', '[b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2011 , which is accounted for as debt .', 'the full program matures in august 2012 .', '[c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .', '[d] none of the letters of credit were drawn upon as of december 31 , 2011 .', 'off-balance sheet arrangements guarantees 2013 at december 31 , 2011 , we were contingently liable for $ 325 million in guarantees .', 'we have recorded a liability of $ 3 million for the fair value of these obligations as of december 31 , 2011 and 2010 .', 'we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .', 'the final guarantee expires in 2022 .', 'we are not aware of any existing event of default that would require us to satisfy these guarantees .', 'we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .', 'other matters labor agreements 2013 in january 2010 , the nation 2019s largest freight railroads began the current round of negotiations with the labor unions .', 'generally , contract negotiations with the various unions take place over an extended period of time .', 'this round of negotiations was no exception .', 'in september 2011 , the rail industry reached agreements with the united transportation union .', 'on november 5 , 2011 , a presidential emergency board ( peb ) appointed by president obama issued recommendations to resolve the disputes between the u.s .', 'railroads and 11 unions that had not yet reached agreements .', 'since then , ten unions reached agreements with the railroads , all of them generally patterned on the recommendations of the peb , and the unions subsequently ratified these agreements .', 'the railroad industry reached a tentative agreement with the brotherhood of maintenance of way employees ( bmwe ) on february 2 , 2012 , eliminating the immediate threat of a national rail strike .', 'the bmwe now will commence ratification of this tentative agreement by its members .', 'inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies .', 'as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts .', 'derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .', 'we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .', 'derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .', 'we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .', 'changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .', 'we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements. .'] | • other commercial commitmentsmillions, total, amount of commitment expiration per period 2012, amount of commitment expiration per period 2013, amount of commitment expiration per period 2014, amount of commitment expiration per period 2015, amount of commitment expiration per period 2016, amount of commitment expiration per period after 2016
• credit facilities [a], $ 1800, $ -, $ -, $ -, $ 1800, $ -, $ -
• receivables securitization facility [b], 600, 600, -, -, -, -, -
• guarantees [c], 325, 18, 8, 214, 12, 13, 60
• standby letters of credit [d], 24, 24, -, -, -, -, -
• total commercialcommitments, $ 2749, $ 642, $ 8, $ 214, $ 1812, $ 13, $ 60 | divide(1800, 2749) | 0.65478 |
in 2014 what percentage of gcla is in non-u.s . dollar denominated assets? | Background: ['management 2019s discussion and analysis liquidity risk management liquidity is of critical importance to financial institutions .', 'most of the failures of financial institutions have occurred in large part due to insufficient liquidity .', 'accordingly , we have in place a comprehensive and conservative set of liquidity and funding policies to address both firm-specific and broader industry or market liquidity events .', 'our principal objective is to be able to fund the firm and to enable our core businesses to continue to serve clients and generate revenues , even under adverse circumstances .', 'we manage liquidity risk according to the following principles : global core liquid assets .', 'we maintain substantial liquidity ( gcla , previously gce ) to meet a broad range of potential cash outflows and collateral needs in a stressed environment .', 'asset-liability management .', 'we assess anticipated holding periods for our assets and their expected liquidity in a stressed environment .', 'we manage the maturities and diversity of our funding across markets , products and counterparties , and seek to maintain liabilities of appropriate tenor relative to our asset base .', 'contingency funding plan .', 'we maintain a contingency funding plan to provide a framework for analyzing and responding to a liquidity crisis situation or periods of market stress .', 'this framework sets forth the plan of action to fund normal business activity in emergency and stress situations .', 'these principles are discussed in more detail below .', 'global core liquid assets our most important liquidity policy is to pre-fund our estimated potential cash and collateral needs during a liquidity crisis and hold this liquidity in the form of unencumbered , highly liquid securities and cash .', 'we believe that the securities held in our gcla would be readily convertible to cash in a matter of days , through liquidation , by entering into repurchase agreements or from maturities of resale agreements , and that this cash would allow us to meet immediate obligations without needing to sell other assets or depend on additional funding from credit-sensitive markets .', 'as of december 2014 and december 2013 , the fair value of the securities and certain overnight cash deposits included in our gcla , totaled $ 182.95 billion and $ 184.07 billion , respectively .', 'based on the results of our internal liquidity risk models , discussed below , as well as our consideration of other factors including , but not limited to , an assessment of our potential intraday liquidity needs and a qualitative assessment of the condition of the financial markets and the firm , we believe our liquidity position as of both december 2014 and december 2013 was appropriate .', 'the table below presents the fair value of the securities and certain overnight cash deposits that are included in our average for the year ended december $ in millions 2014 2013 .']
########
Data Table:
$ in millions, average for theyear ended december 2014, average for theyear ended december 2013
u.s . dollar-denominated, $ 134223, $ 136824
non-u.s . dollar-denominated, 45410, 45826
total, $ 179633, $ 182650
########
Follow-up: ['the u.s .', 'dollar-denominated gcla is composed of ( i ) unencumbered u.s .', 'government and federal agency obligations ( including highly liquid u.s .', 'federal agency mortgage-backed obligations ) , all of which are eligible as collateral in federal reserve open market operations and ( ii ) certain overnight u.s .', 'dollar cash deposits .', 'the non- u.s .', 'dollar-denominated gcla is composed of only unencumbered german , french , japanese and united kingdom government obligations and certain overnight cash deposits in highly liquid currencies .', 'we strictly limit our gcla to this narrowly defined list of securities and cash because they are highly liquid , even in a difficult funding environment .', 'we do not include other potential sources of excess liquidity in our gcla , such as less liquid unencumbered securities or committed credit facilities .', '72 goldman sachs 2014 annual report .'] | 0.25279 | GS/2014/page_74.pdf-2 | ['management 2019s discussion and analysis liquidity risk management liquidity is of critical importance to financial institutions .', 'most of the failures of financial institutions have occurred in large part due to insufficient liquidity .', 'accordingly , we have in place a comprehensive and conservative set of liquidity and funding policies to address both firm-specific and broader industry or market liquidity events .', 'our principal objective is to be able to fund the firm and to enable our core businesses to continue to serve clients and generate revenues , even under adverse circumstances .', 'we manage liquidity risk according to the following principles : global core liquid assets .', 'we maintain substantial liquidity ( gcla , previously gce ) to meet a broad range of potential cash outflows and collateral needs in a stressed environment .', 'asset-liability management .', 'we assess anticipated holding periods for our assets and their expected liquidity in a stressed environment .', 'we manage the maturities and diversity of our funding across markets , products and counterparties , and seek to maintain liabilities of appropriate tenor relative to our asset base .', 'contingency funding plan .', 'we maintain a contingency funding plan to provide a framework for analyzing and responding to a liquidity crisis situation or periods of market stress .', 'this framework sets forth the plan of action to fund normal business activity in emergency and stress situations .', 'these principles are discussed in more detail below .', 'global core liquid assets our most important liquidity policy is to pre-fund our estimated potential cash and collateral needs during a liquidity crisis and hold this liquidity in the form of unencumbered , highly liquid securities and cash .', 'we believe that the securities held in our gcla would be readily convertible to cash in a matter of days , through liquidation , by entering into repurchase agreements or from maturities of resale agreements , and that this cash would allow us to meet immediate obligations without needing to sell other assets or depend on additional funding from credit-sensitive markets .', 'as of december 2014 and december 2013 , the fair value of the securities and certain overnight cash deposits included in our gcla , totaled $ 182.95 billion and $ 184.07 billion , respectively .', 'based on the results of our internal liquidity risk models , discussed below , as well as our consideration of other factors including , but not limited to , an assessment of our potential intraday liquidity needs and a qualitative assessment of the condition of the financial markets and the firm , we believe our liquidity position as of both december 2014 and december 2013 was appropriate .', 'the table below presents the fair value of the securities and certain overnight cash deposits that are included in our average for the year ended december $ in millions 2014 2013 .'] | ['the u.s .', 'dollar-denominated gcla is composed of ( i ) unencumbered u.s .', 'government and federal agency obligations ( including highly liquid u.s .', 'federal agency mortgage-backed obligations ) , all of which are eligible as collateral in federal reserve open market operations and ( ii ) certain overnight u.s .', 'dollar cash deposits .', 'the non- u.s .', 'dollar-denominated gcla is composed of only unencumbered german , french , japanese and united kingdom government obligations and certain overnight cash deposits in highly liquid currencies .', 'we strictly limit our gcla to this narrowly defined list of securities and cash because they are highly liquid , even in a difficult funding environment .', 'we do not include other potential sources of excess liquidity in our gcla , such as less liquid unencumbered securities or committed credit facilities .', '72 goldman sachs 2014 annual report .'] | $ in millions, average for theyear ended december 2014, average for theyear ended december 2013
u.s . dollar-denominated, $ 134223, $ 136824
non-u.s . dollar-denominated, 45410, 45826
total, $ 179633, $ 182650 | divide(45410, 179633) | 0.25279 |
what was the average operating margins for is&gs from 2013 to 2015? | Context: ['backlog backlog increased in 2015 compared to 2014 primarily due to higher orders on f-35 and c-130 programs .', 'backlog decreased slightly in 2014 compared to 2013 primarily due to lower orders on f-16 and f-22 programs .', 'trends we expect aeronautics 2019 2016 net sales to increase in the mid-single digit percentage range as compared to 2015 due to increased volume on the f-35 and c-130 programs , partially offset by decreased volume on the f-16 program .', 'operating profit is also expected to increase in the low single-digit percentage range , driven by increased volume on the f-35 program offset by contract mix that results in a slight decrease in operating margins between years .', 'information systems & global solutions our is&gs business segment provides advanced technology systems and expertise , integrated information technology solutions and management services across a broad spectrum of applications for civil , defense , intelligence and other government customers .', 'is&gs 2019 technical services business provides a comprehensive portfolio of technical and sustainment services .', 'is&gs has a portfolio of many smaller contracts as compared to our other business segments .', 'is&gs has been impacted by the continued downturn in certain federal agencies 2019 information technology budgets and increased re-competition on existing contracts coupled with the fragmentation of large contracts into multiple smaller contracts that are awarded primarily on the basis of price .', 'is&gs 2019 operating results included the following ( in millions ) : .']
Data Table:
========================================
• , 2015, 2014, 2013
• net sales, $ 5596, $ 5654, $ 6115
• operating profit, 508, 472, 498
• operating margins, 9.1% ( 9.1 % ), 8.3% ( 8.3 % ), 8.1% ( 8.1 % )
• backlog at year-end, $ 4800, $ 6000, $ 6300
========================================
Additional Information: ['2015 compared to 2014 is&gs 2019 net sales decreased $ 58 million , or 1% ( 1 % ) , in 2015 as compared to 2014 .', 'the decrease was attributable to lower net sales of approximately $ 395 million as a result of key program completions , lower customer funding levels and increased competition , coupled with the fragmentation of existing large contracts into multiple smaller contracts that are awarded primarily on the basis of price when re-competed ( including cms-citic ) .', 'these decreases were partially offset by higher net sales of approximately $ 230 million for businesses acquired in 2014 ; and approximately $ 110 million due to the start-up of new programs and growth in recently awarded programs .', 'is&gs 2019 operating profit increased $ 36 million , or 8% ( 8 % ) , in 2015 as compared to 2014 .', 'the increase was attributable to improved program performance and risk retirements , offset by decreased operating profit resulting from the activities mentioned above for net sales .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 70 million higher in 2015 compared to 2014 .', '2014 compared to 2013 is&gs 2019 net sales decreased $ 461 million , or 8% ( 8 % ) , in 2014 as compared to 2013 .', 'the decrease was primarily attributable to lower net sales of about $ 475 million due to the wind-down or completion of certain programs , driven by reductions in direct warfighter support ( including jieddo ) ; and approximately $ 320 million due to decreased volume in technical services programs reflecting market pressures .', 'the decreases were offset by higher net sales of about $ 330 million due to the start-up of new programs , growth in recently awarded programs and integration of recently acquired companies .', 'is&gs 2019 operating profit decreased $ 26 million , or 5% ( 5 % ) , in 2014 as compared to 2013 .', 'the decrease was primarily attributable to the activities mentioned above for sales , partially offset by severance recoveries related to the restructuring announced in november 2013 of approximately $ 20 million in 2014 .', 'adjustments not related to volume , including net profit booking rate adjustments , were comparable in 2014 and 2013. .'] | 0.085 | LMT/2015/page_53.pdf-3 | ['backlog backlog increased in 2015 compared to 2014 primarily due to higher orders on f-35 and c-130 programs .', 'backlog decreased slightly in 2014 compared to 2013 primarily due to lower orders on f-16 and f-22 programs .', 'trends we expect aeronautics 2019 2016 net sales to increase in the mid-single digit percentage range as compared to 2015 due to increased volume on the f-35 and c-130 programs , partially offset by decreased volume on the f-16 program .', 'operating profit is also expected to increase in the low single-digit percentage range , driven by increased volume on the f-35 program offset by contract mix that results in a slight decrease in operating margins between years .', 'information systems & global solutions our is&gs business segment provides advanced technology systems and expertise , integrated information technology solutions and management services across a broad spectrum of applications for civil , defense , intelligence and other government customers .', 'is&gs 2019 technical services business provides a comprehensive portfolio of technical and sustainment services .', 'is&gs has a portfolio of many smaller contracts as compared to our other business segments .', 'is&gs has been impacted by the continued downturn in certain federal agencies 2019 information technology budgets and increased re-competition on existing contracts coupled with the fragmentation of large contracts into multiple smaller contracts that are awarded primarily on the basis of price .', 'is&gs 2019 operating results included the following ( in millions ) : .'] | ['2015 compared to 2014 is&gs 2019 net sales decreased $ 58 million , or 1% ( 1 % ) , in 2015 as compared to 2014 .', 'the decrease was attributable to lower net sales of approximately $ 395 million as a result of key program completions , lower customer funding levels and increased competition , coupled with the fragmentation of existing large contracts into multiple smaller contracts that are awarded primarily on the basis of price when re-competed ( including cms-citic ) .', 'these decreases were partially offset by higher net sales of approximately $ 230 million for businesses acquired in 2014 ; and approximately $ 110 million due to the start-up of new programs and growth in recently awarded programs .', 'is&gs 2019 operating profit increased $ 36 million , or 8% ( 8 % ) , in 2015 as compared to 2014 .', 'the increase was attributable to improved program performance and risk retirements , offset by decreased operating profit resulting from the activities mentioned above for net sales .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 70 million higher in 2015 compared to 2014 .', '2014 compared to 2013 is&gs 2019 net sales decreased $ 461 million , or 8% ( 8 % ) , in 2014 as compared to 2013 .', 'the decrease was primarily attributable to lower net sales of about $ 475 million due to the wind-down or completion of certain programs , driven by reductions in direct warfighter support ( including jieddo ) ; and approximately $ 320 million due to decreased volume in technical services programs reflecting market pressures .', 'the decreases were offset by higher net sales of about $ 330 million due to the start-up of new programs , growth in recently awarded programs and integration of recently acquired companies .', 'is&gs 2019 operating profit decreased $ 26 million , or 5% ( 5 % ) , in 2014 as compared to 2013 .', 'the decrease was primarily attributable to the activities mentioned above for sales , partially offset by severance recoveries related to the restructuring announced in november 2013 of approximately $ 20 million in 2014 .', 'adjustments not related to volume , including net profit booking rate adjustments , were comparable in 2014 and 2013. .'] | ========================================
• , 2015, 2014, 2013
• net sales, $ 5596, $ 5654, $ 6115
• operating profit, 508, 472, 498
• operating margins, 9.1% ( 9.1 % ), 8.3% ( 8.3 % ), 8.1% ( 8.1 % )
• backlog at year-end, $ 4800, $ 6000, $ 6300
======================================== | table_average(operating margins, none) | 0.085 |
based on the fair value of the grant , how much money did the company lose when some of their grants were forfeited . | Pre-text: ['table of contents hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) a summary of the company 2019s restricted stock units activity during the year september 26 , 2009 is presented below : non-vested shares number of shares weighted-average grant-date fair .']
--
Table:
----------------------------------------
non-vested shares, number of shares, weighted-average grant-date fair value
non-vested at september 27 2008, 1461, $ 31.23
granted ., 1669, 14.46
vested, -210 ( 210 ), 23.87
forfeited, -150 ( 150 ), 23.44
non-vested at september 26 2009, 2770, $ 21.96
----------------------------------------
--
Follow-up: ['the number of restricted stock units vested includes shares withheld on behalf of employees to satisfy minimum statutory tax withholding requirements .', 'during fiscal 2009 , 2008 and 2007 the total fair value of rsus vested was $ 5014 , $ 2009 and $ 0 , respectively .', 'employee stock purchase plan at the company 2019s march 11 , 2008 annual meeting of stockholders , the company 2019s 2008 employee stock purchase plan ( the 201cespp 201d ) was approved .', 'the plan meets the criteria set forth in asc 718 2019s definition of a non-compensatory plan and does not give rise to stock-based compensation expense .', 'employees who have completed three consecutive months , or two years , whether or not consecutive , of employment with the company or any of its participating subsidiaries are eligible to participate in the espp .', 'the espp plan period is semi-annual and allows participants to purchase the company 2019s common stock at 95% ( 95 % ) of the closing price of the stock on the last day of the plan period .', 'a total of 400 shares may be issued under the espp .', 'during fiscal 2009 , the company issued 121 shares under the espp .', '10 .', 'profit sharing 401 ( k ) plan the company has a qualified profit sharing plan covering substantially all of its employees .', 'contributions to the plan are at the discretion of the company 2019s board of directors .', 'the company made contributions of $ 5725 , $ 5305 and $ 1572 for fiscal years 2009 , 2008 and 2007 , respectively .', '11 .', 'supplemental executive retirement plan effective march 15 , 2006 , the company adopted a serp to provide non-qualified retirement benefits to a select group of executive officers , senior management and highly compensated employees of the company .', 'eligible employees may elect to contribute up to 75% ( 75 % ) of their annual base salary and 100% ( 100 % ) of their annual bonus to the serp and such employee contributions are 100% ( 100 % ) vested .', 'in addition , the company may elect to make annual discretionary contributions on behalf of participants in the serp .', 'each company contribution is subject to a three year vesting schedule , such that each contribution vests one third annually .', 'employee contributions are recorded within accrued expenses in the consolidated balance sheets .', 'upon enrollment into the serp , employees make investment elections for both their voluntary contributions and discretionary contributions , if any , made by the company .', 'earnings and losses on contributions based on these investment elections are recorded as a component of compensation expense in the period earned .', 'source : hologic inc , 10-k , november 24 , 2009 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .', 'the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .', 'past financial performance is no guarantee of future results. .'] | 3516.0 | HOLX/2009/page_151.pdf-3 | ['table of contents hologic , inc .', 'notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) a summary of the company 2019s restricted stock units activity during the year september 26 , 2009 is presented below : non-vested shares number of shares weighted-average grant-date fair .'] | ['the number of restricted stock units vested includes shares withheld on behalf of employees to satisfy minimum statutory tax withholding requirements .', 'during fiscal 2009 , 2008 and 2007 the total fair value of rsus vested was $ 5014 , $ 2009 and $ 0 , respectively .', 'employee stock purchase plan at the company 2019s march 11 , 2008 annual meeting of stockholders , the company 2019s 2008 employee stock purchase plan ( the 201cespp 201d ) was approved .', 'the plan meets the criteria set forth in asc 718 2019s definition of a non-compensatory plan and does not give rise to stock-based compensation expense .', 'employees who have completed three consecutive months , or two years , whether or not consecutive , of employment with the company or any of its participating subsidiaries are eligible to participate in the espp .', 'the espp plan period is semi-annual and allows participants to purchase the company 2019s common stock at 95% ( 95 % ) of the closing price of the stock on the last day of the plan period .', 'a total of 400 shares may be issued under the espp .', 'during fiscal 2009 , the company issued 121 shares under the espp .', '10 .', 'profit sharing 401 ( k ) plan the company has a qualified profit sharing plan covering substantially all of its employees .', 'contributions to the plan are at the discretion of the company 2019s board of directors .', 'the company made contributions of $ 5725 , $ 5305 and $ 1572 for fiscal years 2009 , 2008 and 2007 , respectively .', '11 .', 'supplemental executive retirement plan effective march 15 , 2006 , the company adopted a serp to provide non-qualified retirement benefits to a select group of executive officers , senior management and highly compensated employees of the company .', 'eligible employees may elect to contribute up to 75% ( 75 % ) of their annual base salary and 100% ( 100 % ) of their annual bonus to the serp and such employee contributions are 100% ( 100 % ) vested .', 'in addition , the company may elect to make annual discretionary contributions on behalf of participants in the serp .', 'each company contribution is subject to a three year vesting schedule , such that each contribution vests one third annually .', 'employee contributions are recorded within accrued expenses in the consolidated balance sheets .', 'upon enrollment into the serp , employees make investment elections for both their voluntary contributions and discretionary contributions , if any , made by the company .', 'earnings and losses on contributions based on these investment elections are recorded as a component of compensation expense in the period earned .', 'source : hologic inc , 10-k , november 24 , 2009 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .', 'the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .', 'past financial performance is no guarantee of future results. .'] | ----------------------------------------
non-vested shares, number of shares, weighted-average grant-date fair value
non-vested at september 27 2008, 1461, $ 31.23
granted ., 1669, 14.46
vested, -210 ( 210 ), 23.87
forfeited, -150 ( 150 ), 23.44
non-vested at september 26 2009, 2770, $ 21.96
---------------------------------------- | multiply(23.44, 150) | 3516.0 |
what percent of the ratings profile of derivative receivables were junk rated in 2013? | Context: ['management 2019s discussion and analysis 126 jpmorgan chase & co./2014 annual report while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure .', 'to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) .', 'these measures all incorporate netting and collateral benefits , where applicable .', 'peak exposure to a counterparty is an extreme measure of exposure calculated at a 97.5% ( 97.5 % ) confidence level .', 'dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be equivalent to the risk of loan exposures .', 'the measurement is done by equating the unexpected loss in a derivative counterparty exposure ( which takes into consideration both the loss volatility and the credit rating of the counterparty ) with the unexpected loss in a loan exposure ( which takes into consideration only the credit rating of the counterparty ) .', 'dre is a less extreme measure of potential credit loss than peak and is the primary measure used by the firm for credit approval of derivative transactions .', 'finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral .', 'avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit capital and the cva , as further described below .', 'the three year avg exposure was $ 37.5 billion and $ 35.4 billion at december 31 , 2014 and 2013 , respectively , compared with derivative receivables , net of all collateral , of $ 59.4 billion and $ 51.3 billion at december 31 , 2014 and 2013 , respectively .', 'the fair value of the firm 2019s derivative receivables incorporates an adjustment , the cva , to reflect the credit quality of counterparties .', 'the cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market .', 'the primary components of changes in cva are credit spreads , new deal activity or unwinds , and changes in the underlying market environment .', 'the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio .', 'in addition , the firm 2019s risk management process takes into consideration the potential impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality .', 'many factors may influence the nature and magnitude of these correlations over time .', 'to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg .', 'the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions .', 'the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the dre and avg metrics .', 'the two measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .', 'the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of other liquid securities collateral , for the dates indicated .', 'the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as defined by s&p and moody 2019s .', 'ratings profile of derivative receivables rating equivalent 2014 2013 ( a ) december 31 , ( in millions , except ratios ) exposure net of all collateral % ( % ) of exposure net of all collateral exposure net of all collateral % ( % ) of exposure net of all collateral .']
Data Table:
========================================
• rating equivalent december 31 ( in millions except ratios ), rating equivalent exposure net of all collateral, rating equivalent % ( % ) of exposure net of all collateral, exposure net of all collateral, % ( % ) of exposure net of all collateral
• aaa/aaa to aa-/aa3, $ 19202, 32% ( 32 % ), $ 12953, 25% ( 25 % )
• a+/a1 to a-/a3, 13940, 24, 12930, 25
• bbb+/baa1 to bbb-/baa3, 19008, 32, 15220, 30
• bb+/ba1 to b-/b3, 6384, 11, 6806, 13
• ccc+/caa1 and below, 837, 1, 3415, 7
• total, $ 59371, 100% ( 100 % ), $ 51324, 100% ( 100 % )
========================================
Additional Information: ['( a ) the prior period amounts have been revised to conform with the current period presentation. .'] | 20.0 | JPM/2014/page_128.pdf-2 | ['management 2019s discussion and analysis 126 jpmorgan chase & co./2014 annual report while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure .', 'to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) .', 'these measures all incorporate netting and collateral benefits , where applicable .', 'peak exposure to a counterparty is an extreme measure of exposure calculated at a 97.5% ( 97.5 % ) confidence level .', 'dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be equivalent to the risk of loan exposures .', 'the measurement is done by equating the unexpected loss in a derivative counterparty exposure ( which takes into consideration both the loss volatility and the credit rating of the counterparty ) with the unexpected loss in a loan exposure ( which takes into consideration only the credit rating of the counterparty ) .', 'dre is a less extreme measure of potential credit loss than peak and is the primary measure used by the firm for credit approval of derivative transactions .', 'finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral .', 'avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit capital and the cva , as further described below .', 'the three year avg exposure was $ 37.5 billion and $ 35.4 billion at december 31 , 2014 and 2013 , respectively , compared with derivative receivables , net of all collateral , of $ 59.4 billion and $ 51.3 billion at december 31 , 2014 and 2013 , respectively .', 'the fair value of the firm 2019s derivative receivables incorporates an adjustment , the cva , to reflect the credit quality of counterparties .', 'the cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market .', 'the primary components of changes in cva are credit spreads , new deal activity or unwinds , and changes in the underlying market environment .', 'the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio .', 'in addition , the firm 2019s risk management process takes into consideration the potential impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality .', 'many factors may influence the nature and magnitude of these correlations over time .', 'to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg .', 'the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions .', 'the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the dre and avg metrics .', 'the two measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .', 'the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of other liquid securities collateral , for the dates indicated .', 'the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as defined by s&p and moody 2019s .', 'ratings profile of derivative receivables rating equivalent 2014 2013 ( a ) december 31 , ( in millions , except ratios ) exposure net of all collateral % ( % ) of exposure net of all collateral exposure net of all collateral % ( % ) of exposure net of all collateral .'] | ['( a ) the prior period amounts have been revised to conform with the current period presentation. .'] | ========================================
• rating equivalent december 31 ( in millions except ratios ), rating equivalent exposure net of all collateral, rating equivalent % ( % ) of exposure net of all collateral, exposure net of all collateral, % ( % ) of exposure net of all collateral
• aaa/aaa to aa-/aa3, $ 19202, 32% ( 32 % ), $ 12953, 25% ( 25 % )
• a+/a1 to a-/a3, 13940, 24, 12930, 25
• bbb+/baa1 to bbb-/baa3, 19008, 32, 15220, 30
• bb+/ba1 to b-/b3, 6384, 11, 6806, 13
• ccc+/caa1 and below, 837, 1, 3415, 7
• total, $ 59371, 100% ( 100 % ), $ 51324, 100% ( 100 % )
======================================== | add(13, 7) | 20.0 |
what percent of unrecognized tax benefits as of 2012 would not impact the effective income tax rate if recognized? | Background: ['a valuation allowance totaling $ 45.4 million , $ 43.9 million and $ 40.4 million as of 2013 , 2012 and 2011 year end , respectively , has been established for deferred income tax assets primarily related to certain subsidiary loss carryforwards that may not be realized .', 'realization of the net deferred income tax assets is dependent on generating sufficient taxable income prior to their expiration .', 'although realization is not assured , management believes it is more- likely-than-not that the net deferred income tax assets will be realized .', 'the amount of the net deferred income tax assets considered realizable , however , could change in the near term if estimates of future taxable income during the carryforward period fluctuate .', 'the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for 2013 , 2012 and ( amounts in millions ) 2013 2012 2011 .']
Table:
****************************************
( amounts in millions ) 2013 2012 2011
unrecognized tax benefits at beginning of year $ 6.8 $ 11.0 $ 11.1
gross increases 2013 tax positions in prior periods 1.5 0.7 0.5
gross decreases 2013 tax positions in prior periods -1.6 ( 1.6 ) -4.9 ( 4.9 ) -0.4 ( 0.4 )
gross increases 2013 tax positions in the current period 0.5 1.2 2.8
settlements with taxing authorities -2.1 ( 2.1 ) 2013 -1.2 ( 1.2 )
lapsing of statutes of limitations -0.5 ( 0.5 ) -1.2 ( 1.2 ) -1.8 ( 1.8 )
unrecognized tax benefits at end of year $ 4.6 $ 6.8 $ 11.0
****************************************
Follow-up: ['of the $ 4.6 million , $ 6.8 million and $ 11.0 million of unrecognized tax benefits as of 2013 , 2012 and 2011 year end , respectively , approximately $ 4.6 million , $ 4.1 million and $ 9.1 million , respectively , would impact the effective income tax rate if recognized .', 'interest and penalties related to unrecognized tax benefits are recorded in income tax expense .', 'during 2013 and 2012 , the company reversed a net $ 0.6 million and $ 0.5 million , respectively , of interest and penalties to income associated with unrecognized tax benefits .', 'as of 2013 , 2012 and 2011 year end , the company has provided for $ 0.9 million , $ 1.6 million and $ 1.6 million , respectively , of accrued interest and penalties related to unrecognized tax benefits .', 'the unrecognized tax benefits and related accrued interest and penalties are included in 201cother long-term liabilities 201d on the accompanying consolidated balance sheets .', 'snap-on and its subsidiaries file income tax returns in the united states and in various state , local and foreign jurisdictions .', 'it is reasonably possible that certain unrecognized tax benefits may either be settled with taxing authorities or the statutes of limitations for such items may lapse within the next 12 months , causing snap-on 2019s gross unrecognized tax benefits to decrease by a range of zero to $ 1.1 million .', 'over the next 12 months , snap-on anticipates taking certain tax positions on various tax returns for which the related tax benefit does not meet the recognition threshold .', 'accordingly , snap-on 2019s gross unrecognized tax benefits may increase by a range of zero to $ 0.8 million over the next 12 months for uncertain tax positions expected to be taken in future tax filings .', 'with few exceptions , snap-on is no longer subject to u.s .', 'federal and state/local income tax examinations by tax authorities for years prior to 2008 , and snap-on is no longer subject to non-u.s .', 'income tax examinations by tax authorities for years prior to 2006 .', 'the undistributed earnings of all non-u.s .', 'subsidiaries totaled $ 556.0 million , $ 492.2 million and $ 416.4 million as of 2013 , 2012 and 2011 year end , respectively .', 'snap-on has not provided any deferred taxes on these undistributed earnings as it considers the undistributed earnings to be permanently invested .', 'determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable .', '2013 annual report 83 .'] | 0.39706 | SNA/2013/page_93.pdf-3 | ['a valuation allowance totaling $ 45.4 million , $ 43.9 million and $ 40.4 million as of 2013 , 2012 and 2011 year end , respectively , has been established for deferred income tax assets primarily related to certain subsidiary loss carryforwards that may not be realized .', 'realization of the net deferred income tax assets is dependent on generating sufficient taxable income prior to their expiration .', 'although realization is not assured , management believes it is more- likely-than-not that the net deferred income tax assets will be realized .', 'the amount of the net deferred income tax assets considered realizable , however , could change in the near term if estimates of future taxable income during the carryforward period fluctuate .', 'the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for 2013 , 2012 and ( amounts in millions ) 2013 2012 2011 .'] | ['of the $ 4.6 million , $ 6.8 million and $ 11.0 million of unrecognized tax benefits as of 2013 , 2012 and 2011 year end , respectively , approximately $ 4.6 million , $ 4.1 million and $ 9.1 million , respectively , would impact the effective income tax rate if recognized .', 'interest and penalties related to unrecognized tax benefits are recorded in income tax expense .', 'during 2013 and 2012 , the company reversed a net $ 0.6 million and $ 0.5 million , respectively , of interest and penalties to income associated with unrecognized tax benefits .', 'as of 2013 , 2012 and 2011 year end , the company has provided for $ 0.9 million , $ 1.6 million and $ 1.6 million , respectively , of accrued interest and penalties related to unrecognized tax benefits .', 'the unrecognized tax benefits and related accrued interest and penalties are included in 201cother long-term liabilities 201d on the accompanying consolidated balance sheets .', 'snap-on and its subsidiaries file income tax returns in the united states and in various state , local and foreign jurisdictions .', 'it is reasonably possible that certain unrecognized tax benefits may either be settled with taxing authorities or the statutes of limitations for such items may lapse within the next 12 months , causing snap-on 2019s gross unrecognized tax benefits to decrease by a range of zero to $ 1.1 million .', 'over the next 12 months , snap-on anticipates taking certain tax positions on various tax returns for which the related tax benefit does not meet the recognition threshold .', 'accordingly , snap-on 2019s gross unrecognized tax benefits may increase by a range of zero to $ 0.8 million over the next 12 months for uncertain tax positions expected to be taken in future tax filings .', 'with few exceptions , snap-on is no longer subject to u.s .', 'federal and state/local income tax examinations by tax authorities for years prior to 2008 , and snap-on is no longer subject to non-u.s .', 'income tax examinations by tax authorities for years prior to 2006 .', 'the undistributed earnings of all non-u.s .', 'subsidiaries totaled $ 556.0 million , $ 492.2 million and $ 416.4 million as of 2013 , 2012 and 2011 year end , respectively .', 'snap-on has not provided any deferred taxes on these undistributed earnings as it considers the undistributed earnings to be permanently invested .', 'determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable .', '2013 annual report 83 .'] | ****************************************
( amounts in millions ) 2013 2012 2011
unrecognized tax benefits at beginning of year $ 6.8 $ 11.0 $ 11.1
gross increases 2013 tax positions in prior periods 1.5 0.7 0.5
gross decreases 2013 tax positions in prior periods -1.6 ( 1.6 ) -4.9 ( 4.9 ) -0.4 ( 0.4 )
gross increases 2013 tax positions in the current period 0.5 1.2 2.8
settlements with taxing authorities -2.1 ( 2.1 ) 2013 -1.2 ( 1.2 )
lapsing of statutes of limitations -0.5 ( 0.5 ) -1.2 ( 1.2 ) -1.8 ( 1.8 )
unrecognized tax benefits at end of year $ 4.6 $ 6.8 $ 11.0
**************************************** | subtract(6.8, 4.1), divide(#0, 6.8) | 0.39706 |
what was the percentage cumulative 5-year total shareholder return on common stock fidelity national information services , inc . for the period ending 12/16? | Context: ['there were no share repurchases in 2016 .', "stock performance graph the graph below matches fidelity national information services , inc.'s cumulative 5-year total shareholder return on common stock with the cumulative total returns of the s&p 500 index and the s&p supercap data processing & outsourced services index.aa the graph tracks the performance of a $ 100 investment in our common stock and in each index ( with the reinvestment of all dividends ) from december 31 , 2011 to december 31 , 2016. ."]
Tabular Data:
****************************************
| 12/11 | 12/12 | 12/13 | 12/14 | 12/15 | 12/16
fidelity national information services inc . | 100.00 | 134.12 | 210.97 | 248.68 | 246.21 | 311.81
s&p 500 | 100.00 | 116.00 | 153.58 | 174.60 | 177.01 | 198.18
s&p supercap data processing & outsourced services | 100.00 | 126.06 | 194.91 | 218.05 | 247.68 | 267.14
****************************************
Post-table: ['the stock price performance included in this graph is not necessarily indicative of future stock price performance .', 'item 6 .', 'selected financial ss the selected financial data set forth below constitutes historical financial data of fis and should be read in conjunction with "item 7 , management 2019s discussion and analysis of financial condition and results of operations , " and "item 8 , financial statements and supplementary data , " included elsewhere in this report. .'] | 2.1181 | FIS/2016/page_31.pdf-1 | ['there were no share repurchases in 2016 .', "stock performance graph the graph below matches fidelity national information services , inc.'s cumulative 5-year total shareholder return on common stock with the cumulative total returns of the s&p 500 index and the s&p supercap data processing & outsourced services index.aa the graph tracks the performance of a $ 100 investment in our common stock and in each index ( with the reinvestment of all dividends ) from december 31 , 2011 to december 31 , 2016. ."] | ['the stock price performance included in this graph is not necessarily indicative of future stock price performance .', 'item 6 .', 'selected financial ss the selected financial data set forth below constitutes historical financial data of fis and should be read in conjunction with "item 7 , management 2019s discussion and analysis of financial condition and results of operations , " and "item 8 , financial statements and supplementary data , " included elsewhere in this report. .'] | ****************************************
| 12/11 | 12/12 | 12/13 | 12/14 | 12/15 | 12/16
fidelity national information services inc . | 100.00 | 134.12 | 210.97 | 248.68 | 246.21 | 311.81
s&p 500 | 100.00 | 116.00 | 153.58 | 174.60 | 177.01 | 198.18
s&p supercap data processing & outsourced services | 100.00 | 126.06 | 194.91 | 218.05 | 247.68 | 267.14
**************************************** | subtract(311.81, const_100), divide(#0, const_100) | 2.1181 |
what was the percent of the change in the net revenues from dec . 282012 dec . 29 2013 | Pre-text: ['item 7 .', 'management 2019s discussion and analysis of financial condition and results of operations our management 2019s discussion and analysis of financial condition and results of operations ( md&a ) is provided in addition to the accompanying consolidated financial statements and notes to assist readers in understanding our results of operations , financial condition , and cash flows .', 'md&a is organized as follows : 2022 overview .', 'discussion of our business and overall analysis of financial and other highlights affecting the company in order to provide context for the remainder of md&a .', '2022 critical accounting estimates .', 'accounting estimates that we believe are most important to understanding the assumptions and judgments incorporated in our reported financial results and forecasts .', '2022 results of operations .', 'an analysis of our financial results comparing 2013 to 2012 and comparing 2012 to 2022 liquidity and capital resources .', 'an analysis of changes in our balance sheets and cash flows , and discussion of our financial condition and potential sources of liquidity .', '2022 fair value of financial instruments .', 'discussion of the methodologies used in the valuation of our financial instruments .', '2022 contractual obligations and off-balance-sheet arrangements .', 'overview of contractual obligations , contingent liabilities , commitments , and off-balance-sheet arrangements outstanding as of december 28 , 2013 , including expected payment schedule .', 'the various sections of this md&a contain a number of forward-looking statements that involve a number of risks and uncertainties .', 'words such as 201canticipates , 201d 201cexpects , 201d 201cintends , 201d 201cplans , 201d 201cbelieves , 201d 201cseeks , 201d 201cestimates , 201d 201ccontinues , 201d 201cmay , 201d 201cwill , 201d 201cshould , 201d and variations of such words and similar expressions are intended to identify such forward-looking statements .', 'in addition , any statements that refer to projections of our future financial performance , our anticipated growth and trends in our businesses , uncertain events or assumptions , and other characterizations of future events or circumstances are forward-looking statements .', 'such statements are based on our current expectations and could be affected by the uncertainties and risk factors described throughout this filing and particularly in 201crisk factors 201d in part i , item 1a of this form 10-k .', 'our actual results may differ materially , and these forward-looking statements do not reflect the potential impact of any divestitures , mergers , acquisitions , or other business combinations that had not been completed as of february 14 , 2014 .', 'overview our results of operations for each period were as follows: .']
--
Tabular Data:
• ( dollars in millions except per share amounts ), three months ended dec . 282013, three months ended sept . 282013, three months ended change, three months ended dec . 282013, three months ended dec . 292012, change
• net revenue, $ 13834, $ 13483, $ 351, $ 52708, $ 53341, $ -633 ( 633 )
• gross margin, $ 8571, $ 8414, $ 157, $ 31521, $ 33151, $ -1630 ( 1630 )
• gross margin percentage, 62.0% ( 62.0 % ), 62.4% ( 62.4 % ), ( 0.4 ) % ( % ), 59.8% ( 59.8 % ), 62.1% ( 62.1 % ), ( 2.3 ) % ( % )
• operating income, $ 3549, $ 3504, $ 45, $ 12291, $ 14638, $ -2347 ( 2347 )
• net income, $ 2625, $ 2950, $ -325 ( 325 ), $ 9620, $ 11005, $ -1385 ( 1385 )
• diluted earnings per common share, $ 0.51, $ 0.58, $ -0.07 ( 0.07 ), $ 1.89, $ 2.13, $ -0.24 ( 0.24 )
--
Follow-up: ['revenue for 2013 was down 1% ( 1 % ) from 2012 .', 'pccg experienced lower platform unit sales in the first half of the year , but saw offsetting growth in the back half as the pc market began to show signs of stabilization .', 'dcg continued to benefit from the build out of internet cloud computing and the strength of our product portfolio resulting in increased platform volumes for dcg for the year .', 'higher factory start-up costs for our next-generation 14nm process technology led to a decrease in gross margin compared to 2012 .', 'in response to the current business environment and to better align resources , management approved several restructuring actions including targeted workforce reductions as well as the exit of certain businesses and facilities .', 'these actions resulted in restructuring and asset impairment charges of $ 240 million for 2013 .', 'table of contents .'] | -0.01187 | INTC/2013/page_33.pdf-1 | ['item 7 .', 'management 2019s discussion and analysis of financial condition and results of operations our management 2019s discussion and analysis of financial condition and results of operations ( md&a ) is provided in addition to the accompanying consolidated financial statements and notes to assist readers in understanding our results of operations , financial condition , and cash flows .', 'md&a is organized as follows : 2022 overview .', 'discussion of our business and overall analysis of financial and other highlights affecting the company in order to provide context for the remainder of md&a .', '2022 critical accounting estimates .', 'accounting estimates that we believe are most important to understanding the assumptions and judgments incorporated in our reported financial results and forecasts .', '2022 results of operations .', 'an analysis of our financial results comparing 2013 to 2012 and comparing 2012 to 2022 liquidity and capital resources .', 'an analysis of changes in our balance sheets and cash flows , and discussion of our financial condition and potential sources of liquidity .', '2022 fair value of financial instruments .', 'discussion of the methodologies used in the valuation of our financial instruments .', '2022 contractual obligations and off-balance-sheet arrangements .', 'overview of contractual obligations , contingent liabilities , commitments , and off-balance-sheet arrangements outstanding as of december 28 , 2013 , including expected payment schedule .', 'the various sections of this md&a contain a number of forward-looking statements that involve a number of risks and uncertainties .', 'words such as 201canticipates , 201d 201cexpects , 201d 201cintends , 201d 201cplans , 201d 201cbelieves , 201d 201cseeks , 201d 201cestimates , 201d 201ccontinues , 201d 201cmay , 201d 201cwill , 201d 201cshould , 201d and variations of such words and similar expressions are intended to identify such forward-looking statements .', 'in addition , any statements that refer to projections of our future financial performance , our anticipated growth and trends in our businesses , uncertain events or assumptions , and other characterizations of future events or circumstances are forward-looking statements .', 'such statements are based on our current expectations and could be affected by the uncertainties and risk factors described throughout this filing and particularly in 201crisk factors 201d in part i , item 1a of this form 10-k .', 'our actual results may differ materially , and these forward-looking statements do not reflect the potential impact of any divestitures , mergers , acquisitions , or other business combinations that had not been completed as of february 14 , 2014 .', 'overview our results of operations for each period were as follows: .'] | ['revenue for 2013 was down 1% ( 1 % ) from 2012 .', 'pccg experienced lower platform unit sales in the first half of the year , but saw offsetting growth in the back half as the pc market began to show signs of stabilization .', 'dcg continued to benefit from the build out of internet cloud computing and the strength of our product portfolio resulting in increased platform volumes for dcg for the year .', 'higher factory start-up costs for our next-generation 14nm process technology led to a decrease in gross margin compared to 2012 .', 'in response to the current business environment and to better align resources , management approved several restructuring actions including targeted workforce reductions as well as the exit of certain businesses and facilities .', 'these actions resulted in restructuring and asset impairment charges of $ 240 million for 2013 .', 'table of contents .'] | • ( dollars in millions except per share amounts ), three months ended dec . 282013, three months ended sept . 282013, three months ended change, three months ended dec . 282013, three months ended dec . 292012, change
• net revenue, $ 13834, $ 13483, $ 351, $ 52708, $ 53341, $ -633 ( 633 )
• gross margin, $ 8571, $ 8414, $ 157, $ 31521, $ 33151, $ -1630 ( 1630 )
• gross margin percentage, 62.0% ( 62.0 % ), 62.4% ( 62.4 % ), ( 0.4 ) % ( % ), 59.8% ( 59.8 % ), 62.1% ( 62.1 % ), ( 2.3 ) % ( % )
• operating income, $ 3549, $ 3504, $ 45, $ 12291, $ 14638, $ -2347 ( 2347 )
• net income, $ 2625, $ 2950, $ -325 ( 325 ), $ 9620, $ 11005, $ -1385 ( 1385 )
• diluted earnings per common share, $ 0.51, $ 0.58, $ -0.07 ( 0.07 ), $ 1.89, $ 2.13, $ -0.24 ( 0.24 ) | subtract(52708, 53341), divide(#0, 53341) | -0.01187 |
in 2018 what was the ratio of anticipated benefits payments from our unfunded postemployment benefit plans to the deferred compensation | Pre-text: ['we have an option to purchase the class a interests for consideration equal to the then current capital account value , plus any unpaid preferred return and the prescribed make-whole amount .', 'if we purchase these interests , any change in the third-party holder 2019s capital account from its original value will be charged directly to retained earnings and will increase or decrease the net earnings used to calculate eps in that period .', 'off-balance sheet arrangements and contractual obligations as of may 28 , 2017 , we have issued guarantees and comfort letters of $ 505 million for the debt and other obligations of consolidated subsidiaries , and guarantees and comfort letters of $ 165 million for the debt and other obligations of non-consolidated affiliates , mainly cpw .', 'in addition , off-balance sheet arrangements are generally limited to the future payments under non-cancelable operating leases , which totaled $ 501 million as of may 28 , 2017 .', 'as of may 28 , 2017 , we had invested in five variable interest entities ( vies ) .', 'none of our vies are material to our results of operations , financial condition , or liquidity as of and for the fiscal year ended may 28 , 2017 .', 'our defined benefit plans in the united states are subject to the requirements of the pension protection act ( ppa ) .', 'in the future , the ppa may require us to make additional contributions to our domestic plans .', 'we do not expect to be required to make any contribu- tions in fiscal 2017 .', 'the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period: .']
########
Tabular Data:
----------------------------------------
• in millions, payments due by fiscal year total, payments due by fiscal year 2018, payments due by fiscal year 2019 -20, payments due by fiscal year 2021 -22, payments due by fiscal year 2023 and thereafter
• long-term debt ( a ), $ 8290.6, 604.2, 2647.7, 1559.3, 3479.4
• accrued interest, 83.8, 83.8, 2014, 2014, 2014
• operating leases ( b ), 500.7, 118.8, 182.4, 110.4, 89.1
• capital leases, 1.2, 0.4, 0.6, 0.1, 0.1
• purchase obligations ( c ), 3191.0, 2304.8, 606.8, 264.3, 15.1
• total contractual obligations, 12067.3, 3112.0, 3437.5, 1934.1, 3583.7
• other long-term obligations ( d ), 1372.7, 2014, 2014, 2014, 2014
• total long-term obligations, $ 13440.0, $ 3112.0, $ 3437.5, $ 1934.1, $ 3583.7
----------------------------------------
########
Follow-up: ['total contractual obligations 12067.3 3112.0 3437.5 1934.1 3583.7 other long-term obligations ( d ) 1372.7 2014 2014 2014 2014 total long-term obligations $ 13440.0 $ 3112.0 $ 3437.5 $ 1934.1 $ 3583.7 ( a ) amounts represent the expected cash payments of our long-term debt and do not include $ 1.2 million for capital leases or $ 44.4 million for net unamortized debt issuance costs , premiums and discounts , and fair value adjustments .', '( b ) operating leases represents the minimum rental commitments under non-cancelable operating leases .', '( c ) the majority of the purchase obligations represent commitments for raw material and packaging to be utilized in the normal course of business and for consumer marketing spending commitments that support our brands .', 'for purposes of this table , arrangements are considered purchase obliga- tions if a contract specifies all significant terms , including fixed or minimum quantities to be purchased , a pricing structure , and approximate timing of the transaction .', 'most arrangements are cancelable without a significant penalty and with short notice ( usually 30 days ) .', 'any amounts reflected on the consolidated balance sheets as accounts payable and accrued liabilities are excluded from the table above .', '( d ) the fair value of our foreign exchange , equity , commodity , and grain derivative contracts with a payable position to the counterparty was $ 24 million as of may 28 , 2017 , based on fair market values as of that date .', 'future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future .', 'other long-term obligations mainly consist of liabilities for accrued compensation and bene- fits , including the underfunded status of certain of our defined benefit pen- sion , other postretirement benefit , and postemployment benefit plans , and miscellaneous liabilities .', 'we expect to pay $ 21 million of benefits from our unfunded postemployment benefit plans and $ 14.6 million of deferred com- pensation in fiscal 2018 .', 'we are unable to reliably estimate the amount of these payments beyond fiscal 2018 .', 'as of may 28 , 2017 , our total liability for uncertain tax positions and accrued interest and penalties was $ 158.6 million .', 'significant accounting estimates for a complete description of our significant account- ing policies , see note 2 to the consolidated financial statements on page 51 of this report .', 'our significant accounting estimates are those that have a meaning- ful impact on the reporting of our financial condition and results of operations .', 'these estimates include our accounting for promotional expenditures , valuation of long-lived assets , intangible assets , redeemable interest , stock-based compensation , income taxes , and defined benefit pension , other postretirement benefit , and pos- temployment benefit plans .', 'promotional expenditures our promotional activi- ties are conducted through our customers and directly or indirectly with end consumers .', 'these activities include : payments to customers to perform merchan- dising activities on our behalf , such as advertising or in-store displays ; discounts to our list prices to lower retail shelf prices ; payments to gain distribution of new products ; coupons , contests , and other incentives ; and media and advertising expenditures .', 'the recognition of these costs requires estimation of customer participa- tion and performance levels .', 'these estimates are based annual report 29 .'] | 1.43836 | GIS/2017/page_31.pdf-4 | ['we have an option to purchase the class a interests for consideration equal to the then current capital account value , plus any unpaid preferred return and the prescribed make-whole amount .', 'if we purchase these interests , any change in the third-party holder 2019s capital account from its original value will be charged directly to retained earnings and will increase or decrease the net earnings used to calculate eps in that period .', 'off-balance sheet arrangements and contractual obligations as of may 28 , 2017 , we have issued guarantees and comfort letters of $ 505 million for the debt and other obligations of consolidated subsidiaries , and guarantees and comfort letters of $ 165 million for the debt and other obligations of non-consolidated affiliates , mainly cpw .', 'in addition , off-balance sheet arrangements are generally limited to the future payments under non-cancelable operating leases , which totaled $ 501 million as of may 28 , 2017 .', 'as of may 28 , 2017 , we had invested in five variable interest entities ( vies ) .', 'none of our vies are material to our results of operations , financial condition , or liquidity as of and for the fiscal year ended may 28 , 2017 .', 'our defined benefit plans in the united states are subject to the requirements of the pension protection act ( ppa ) .', 'in the future , the ppa may require us to make additional contributions to our domestic plans .', 'we do not expect to be required to make any contribu- tions in fiscal 2017 .', 'the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period: .'] | ['total contractual obligations 12067.3 3112.0 3437.5 1934.1 3583.7 other long-term obligations ( d ) 1372.7 2014 2014 2014 2014 total long-term obligations $ 13440.0 $ 3112.0 $ 3437.5 $ 1934.1 $ 3583.7 ( a ) amounts represent the expected cash payments of our long-term debt and do not include $ 1.2 million for capital leases or $ 44.4 million for net unamortized debt issuance costs , premiums and discounts , and fair value adjustments .', '( b ) operating leases represents the minimum rental commitments under non-cancelable operating leases .', '( c ) the majority of the purchase obligations represent commitments for raw material and packaging to be utilized in the normal course of business and for consumer marketing spending commitments that support our brands .', 'for purposes of this table , arrangements are considered purchase obliga- tions if a contract specifies all significant terms , including fixed or minimum quantities to be purchased , a pricing structure , and approximate timing of the transaction .', 'most arrangements are cancelable without a significant penalty and with short notice ( usually 30 days ) .', 'any amounts reflected on the consolidated balance sheets as accounts payable and accrued liabilities are excluded from the table above .', '( d ) the fair value of our foreign exchange , equity , commodity , and grain derivative contracts with a payable position to the counterparty was $ 24 million as of may 28 , 2017 , based on fair market values as of that date .', 'future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future .', 'other long-term obligations mainly consist of liabilities for accrued compensation and bene- fits , including the underfunded status of certain of our defined benefit pen- sion , other postretirement benefit , and postemployment benefit plans , and miscellaneous liabilities .', 'we expect to pay $ 21 million of benefits from our unfunded postemployment benefit plans and $ 14.6 million of deferred com- pensation in fiscal 2018 .', 'we are unable to reliably estimate the amount of these payments beyond fiscal 2018 .', 'as of may 28 , 2017 , our total liability for uncertain tax positions and accrued interest and penalties was $ 158.6 million .', 'significant accounting estimates for a complete description of our significant account- ing policies , see note 2 to the consolidated financial statements on page 51 of this report .', 'our significant accounting estimates are those that have a meaning- ful impact on the reporting of our financial condition and results of operations .', 'these estimates include our accounting for promotional expenditures , valuation of long-lived assets , intangible assets , redeemable interest , stock-based compensation , income taxes , and defined benefit pension , other postretirement benefit , and pos- temployment benefit plans .', 'promotional expenditures our promotional activi- ties are conducted through our customers and directly or indirectly with end consumers .', 'these activities include : payments to customers to perform merchan- dising activities on our behalf , such as advertising or in-store displays ; discounts to our list prices to lower retail shelf prices ; payments to gain distribution of new products ; coupons , contests , and other incentives ; and media and advertising expenditures .', 'the recognition of these costs requires estimation of customer participa- tion and performance levels .', 'these estimates are based annual report 29 .'] | ----------------------------------------
• in millions, payments due by fiscal year total, payments due by fiscal year 2018, payments due by fiscal year 2019 -20, payments due by fiscal year 2021 -22, payments due by fiscal year 2023 and thereafter
• long-term debt ( a ), $ 8290.6, 604.2, 2647.7, 1559.3, 3479.4
• accrued interest, 83.8, 83.8, 2014, 2014, 2014
• operating leases ( b ), 500.7, 118.8, 182.4, 110.4, 89.1
• capital leases, 1.2, 0.4, 0.6, 0.1, 0.1
• purchase obligations ( c ), 3191.0, 2304.8, 606.8, 264.3, 15.1
• total contractual obligations, 12067.3, 3112.0, 3437.5, 1934.1, 3583.7
• other long-term obligations ( d ), 1372.7, 2014, 2014, 2014, 2014
• total long-term obligations, $ 13440.0, $ 3112.0, $ 3437.5, $ 1934.1, $ 3583.7
---------------------------------------- | divide(21, 14.6) | 1.43836 |
what is the proportion of leased corporate units to owned corporate units? | Pre-text: ['item 2 .', 'properties .', 'bd 2019s executive offices are located in franklin lakes , new jersey .', 'as of october 31 , 2017 , bd owned or leased 289 facilities throughout the world , comprising approximately 20462405 square feet of manufacturing , warehousing , administrative and research facilities .', 'the u.s .', 'facilities , including those in puerto rico , comprise approximately 7472419 square feet of owned and 2976267 square feet of leased space .', 'the international facilities comprise approximately 7478714 square feet of owned and 2535005 square feet of leased space .', 'sales offices and distribution centers included in the total square footage are also located throughout the world .', 'operations in each of bd 2019s business segments are conducted at both u.s .', 'and international locations .', 'particularly in the international marketplace , facilities often serve more than one business segment and are used for multiple purposes , such as administrative/sales , manufacturing and/or warehousing/distribution .', 'bd generally seeks to own its manufacturing facilities , although some are leased .', 'the following table summarizes property information by business segment. .']
------
Tabular Data:
========================================
sites | corporate | bd life sciences | bd medical | mixed ( a ) | total
leased | 14 | 25 | 96 | 83 | 218
owned | 6 | 26 | 33 | 6 | 71
total | 20 | 51 | 129 | 89 | 289
square feet | 2263694 | 4421732 | 10838632 | 2938347 | 20462405
========================================
------
Additional Information: ['( a ) facilities used by more than one business segment .', 'bd believes that its facilities are of good construction and in good physical condition , are suitable and adequate for the operations conducted at those facilities , and are , with minor exceptions , fully utilized and operating at normal capacity .', 'the u.s .', 'facilities are located in alabama , arizona , california , connecticut , florida , georgia , illinois , indiana , maryland , massachusetts , michigan , missouri , nebraska , new jersey , north carolina , ohio , oklahoma , south carolina , texas , utah , virginia , washington , d.c. , washington , wisconsin and puerto rico .', 'the international facilities are as follows : - europe , middle east , africa , which includes facilities in austria , belgium , bosnia and herzegovina , the czech republic , denmark , england , finland , france , germany , ghana , hungary , ireland , israel , italy , kenya , luxembourg , netherlands , norway , poland , portugal , russia , saudi arabia , south africa , spain , sweden , switzerland , turkey , the united arab emirates and zambia .', '- greater asia , which includes facilities in australia , bangladesh , china , india , indonesia , japan , malaysia , new zealand , the philippines , singapore , south korea , taiwan , thailand and vietnam .', '- latin america , which includes facilities in argentina , brazil , chile , colombia , mexico , peru and the dominican republic .', '- canada .', 'item 3 .', 'legal proceedings .', 'information with respect to certain legal proceedings is included in note 5 to the consolidated financial statements contained in item 8 .', 'financial statements and supplementary data , and is incorporated herein by reference .', 'item 4 .', 'mine safety disclosures .', 'not applicable. .'] | 2.33333 | BDX/2017/page_28.pdf-1 | ['item 2 .', 'properties .', 'bd 2019s executive offices are located in franklin lakes , new jersey .', 'as of october 31 , 2017 , bd owned or leased 289 facilities throughout the world , comprising approximately 20462405 square feet of manufacturing , warehousing , administrative and research facilities .', 'the u.s .', 'facilities , including those in puerto rico , comprise approximately 7472419 square feet of owned and 2976267 square feet of leased space .', 'the international facilities comprise approximately 7478714 square feet of owned and 2535005 square feet of leased space .', 'sales offices and distribution centers included in the total square footage are also located throughout the world .', 'operations in each of bd 2019s business segments are conducted at both u.s .', 'and international locations .', 'particularly in the international marketplace , facilities often serve more than one business segment and are used for multiple purposes , such as administrative/sales , manufacturing and/or warehousing/distribution .', 'bd generally seeks to own its manufacturing facilities , although some are leased .', 'the following table summarizes property information by business segment. .'] | ['( a ) facilities used by more than one business segment .', 'bd believes that its facilities are of good construction and in good physical condition , are suitable and adequate for the operations conducted at those facilities , and are , with minor exceptions , fully utilized and operating at normal capacity .', 'the u.s .', 'facilities are located in alabama , arizona , california , connecticut , florida , georgia , illinois , indiana , maryland , massachusetts , michigan , missouri , nebraska , new jersey , north carolina , ohio , oklahoma , south carolina , texas , utah , virginia , washington , d.c. , washington , wisconsin and puerto rico .', 'the international facilities are as follows : - europe , middle east , africa , which includes facilities in austria , belgium , bosnia and herzegovina , the czech republic , denmark , england , finland , france , germany , ghana , hungary , ireland , israel , italy , kenya , luxembourg , netherlands , norway , poland , portugal , russia , saudi arabia , south africa , spain , sweden , switzerland , turkey , the united arab emirates and zambia .', '- greater asia , which includes facilities in australia , bangladesh , china , india , indonesia , japan , malaysia , new zealand , the philippines , singapore , south korea , taiwan , thailand and vietnam .', '- latin america , which includes facilities in argentina , brazil , chile , colombia , mexico , peru and the dominican republic .', '- canada .', 'item 3 .', 'legal proceedings .', 'information with respect to certain legal proceedings is included in note 5 to the consolidated financial statements contained in item 8 .', 'financial statements and supplementary data , and is incorporated herein by reference .', 'item 4 .', 'mine safety disclosures .', 'not applicable. .'] | ========================================
sites | corporate | bd life sciences | bd medical | mixed ( a ) | total
leased | 14 | 25 | 96 | 83 | 218
owned | 6 | 26 | 33 | 6 | 71
total | 20 | 51 | 129 | 89 | 289
square feet | 2263694 | 4421732 | 10838632 | 2938347 | 20462405
======================================== | divide(14, 6) | 2.33333 |
what was the difference in percentage cumulative total return between cititgroup's common stock and the s&p 500 index for the five year period ending 2010? | Pre-text: ['dividends for a summary of the cash dividends paid on citi 2019s outstanding common stock during 2009 and 2010 , see note 33 to the consolidated financial statements .', 'for so long as the u.s .', 'government holds any citigroup trust preferred securities acquired pursuant to the exchange offers consummated in 2009 , citigroup has agreed not to pay a quarterly common stock dividend exceeding $ 0.01 per quarter , subject to certain customary exceptions .', 'further , any dividend on citi 2019s outstanding common stock would need to be made in compliance with citi 2019s obligations to any remaining outstanding citigroup preferred stock .', 'performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citigroup 2019s common stock with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period extending through december 31 , 2010 .', 'the graph and table assume that $ 100 was invested on december 31 , 2005 in citigroup 2019s common stock , the s&p 500 index and the s&p financial index and that all dividends were reinvested .', 'citigroup s&p 500 index s&p financial index comparison of five-year cumulative total return for the years ended 2006 2007 2008 2009 2010 .']
##########
Table:
****************************************
december 31, citigroup s&p 500 index s&p financial index
2006 119.55 115.79 119.19
2007 66.10 122.15 96.98
2008 15.88 76.96 43.34
2009 7.85 97.33 50.80
2010 11.22 111.99 56.96
****************************************
##########
Additional Information: ['.'] | 42.1522 | C/2010/page_306.pdf-3 | ['dividends for a summary of the cash dividends paid on citi 2019s outstanding common stock during 2009 and 2010 , see note 33 to the consolidated financial statements .', 'for so long as the u.s .', 'government holds any citigroup trust preferred securities acquired pursuant to the exchange offers consummated in 2009 , citigroup has agreed not to pay a quarterly common stock dividend exceeding $ 0.01 per quarter , subject to certain customary exceptions .', 'further , any dividend on citi 2019s outstanding common stock would need to be made in compliance with citi 2019s obligations to any remaining outstanding citigroup preferred stock .', 'performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citigroup 2019s common stock with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period extending through december 31 , 2010 .', 'the graph and table assume that $ 100 was invested on december 31 , 2005 in citigroup 2019s common stock , the s&p 500 index and the s&p financial index and that all dividends were reinvested .', 'citigroup s&p 500 index s&p financial index comparison of five-year cumulative total return for the years ended 2006 2007 2008 2009 2010 .'] | ['.'] | ****************************************
december 31, citigroup s&p 500 index s&p financial index
2006 119.55 115.79 119.19
2007 66.10 122.15 96.98
2008 15.88 76.96 43.34
2009 7.85 97.33 50.80
2010 11.22 111.99 56.96
**************************************** | subtract(11.22, 100), divide(#0, 100), subtract(56.96, 100), divide(#2, 100), subtract(#1, #2) | 42.1522 |
what was the average net earnings in millions from 2002 to 2006? | Pre-text: ['notes to five year summary ( a ) includes the effects of items not considered in the assessment of the operating performance of our business segments ( see the section , 201cresults of operations 2013 unallocated corporate ( expense ) income , net 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 214 million , $ 139 million after tax ( $ 0.31 per share ) .', 'also includes a reduction in income tax expense of $ 62 million ( $ 0.14 per share ) resulting from a tax benefit related to claims we filed for additional extraterritorial income exclusion ( eti ) tax benefits .', 'these items increased earnings by $ 201 million after tax ( $ 0.45 per share ) .', '( b ) includes the effects of items not considered in the assessment of the operating performance of our business segments ( see the section , 201cresults of operations 2013 unallocated corporate ( expense ) income , net 201d in md&a ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) .', '( c ) includes the effects of items not considered in the assessment of the operating performance of our business segments ( see the section , 201cresults of operations 2013 unallocated corporate ( expense ) income , net 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 215 million , $ 154 million after tax ( $ 0.34 per share ) .', 'also includes a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) .', 'these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) .', '( d ) includes the effects of items not considered in the assessment of the operating performance of our business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 153 million , $ 102 million after tax ( $ 0.22 per share ) .', '( e ) includes the effects of items not considered in the assessment of the operating performance of our business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 1112 million , $ 632 million after tax ( $ 1.40 per share ) .', '( f ) we define return on invested capital ( roic ) as net earnings plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back adjustments related to postretirement benefit plans .', 'we believe that reporting roic provides investors with greater visibility into how effectively we use the capital invested in our operations .', 'we use roic to evaluate multi-year investment decisions and as a long-term performance measure , and also use it as a factor in evaluating management performance under certain of our incentive compensation plans .', 'roic is not a measure of financial performance under gaap , and may not be defined and calculated by other companies in the same manner .', 'roic should not be considered in isolation or as an alternative to net earnings as an indicator of performance .', 'we calculate roic as follows : ( in millions ) 2006 2005 2004 2003 2002 .']
##########
Tabular Data:
( in millions ) | 2006 | 2005 | 2004 | 2003 | 2002
----------|----------|----------|----------|----------|----------
net earnings | $ 2529 | $ 1825 | $ 1266 | $ 1053 | $ 500
interest expense ( multiplied by 65% ( 65 % ) ) 1 | 235 | 241 | 276 | 317 | 378
return | $ 2764 | $ 2066 | $ 1542 | $ 1370 | $ 878
average debt2 5 | $ 4727 | $ 5077 | $ 5932 | $ 6612 | $ 7491
average equity3 5 | 7686 | 7590 | 7015 | 6170 | 6853
average benefit plan adjustments3 45 | 2006 | 1545 | 1296 | 1504 | 341
average invested capital | $ 14419 | $ 14212 | $ 14243 | $ 14286 | $ 14685
return on invested capital | 19.2% ( 19.2 % ) | 14.5% ( 14.5 % ) | 10.8% ( 10.8 % ) | 9.6% ( 9.6 % ) | 6.0% ( 6.0 % )
##########
Post-table: ['1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) .', '2 debt consists of long-term debt , including current maturities , and short-term borrowings ( if any ) .', '3 equity includes non-cash adjustments , primarily for the additional minimum pension liability in all years and the adoption of fas 158 in 2006 .', '4 average benefit plan adjustments reflect the cumulative value of entries identified in our statement of stockholders equity under the captions 201cadjustment for adoption of fas 158 201d and 201cminimum pension liability . 201d the annual benefit plan adjustments to equity were : 2006 = ( $ 1883 ) million ; 2005 = ( $ 105 ) million ; 2004 = ( $ 285 ) million ; 2003 = $ 331 million ; and 2002 = ( $ 1537 ) million .', 'as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the current year entry value .', '5 yearly averages are calculated using balances at the start of the year and at the end of each quarter. .'] | 1434.6 | LMT/2006/page_39.pdf-2 | ['notes to five year summary ( a ) includes the effects of items not considered in the assessment of the operating performance of our business segments ( see the section , 201cresults of operations 2013 unallocated corporate ( expense ) income , net 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 214 million , $ 139 million after tax ( $ 0.31 per share ) .', 'also includes a reduction in income tax expense of $ 62 million ( $ 0.14 per share ) resulting from a tax benefit related to claims we filed for additional extraterritorial income exclusion ( eti ) tax benefits .', 'these items increased earnings by $ 201 million after tax ( $ 0.45 per share ) .', '( b ) includes the effects of items not considered in the assessment of the operating performance of our business segments ( see the section , 201cresults of operations 2013 unallocated corporate ( expense ) income , net 201d in md&a ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) .', '( c ) includes the effects of items not considered in the assessment of the operating performance of our business segments ( see the section , 201cresults of operations 2013 unallocated corporate ( expense ) income , net 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 215 million , $ 154 million after tax ( $ 0.34 per share ) .', 'also includes a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) .', 'these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) .', '( d ) includes the effects of items not considered in the assessment of the operating performance of our business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 153 million , $ 102 million after tax ( $ 0.22 per share ) .', '( e ) includes the effects of items not considered in the assessment of the operating performance of our business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 1112 million , $ 632 million after tax ( $ 1.40 per share ) .', '( f ) we define return on invested capital ( roic ) as net earnings plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back adjustments related to postretirement benefit plans .', 'we believe that reporting roic provides investors with greater visibility into how effectively we use the capital invested in our operations .', 'we use roic to evaluate multi-year investment decisions and as a long-term performance measure , and also use it as a factor in evaluating management performance under certain of our incentive compensation plans .', 'roic is not a measure of financial performance under gaap , and may not be defined and calculated by other companies in the same manner .', 'roic should not be considered in isolation or as an alternative to net earnings as an indicator of performance .', 'we calculate roic as follows : ( in millions ) 2006 2005 2004 2003 2002 .'] | ['1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) .', '2 debt consists of long-term debt , including current maturities , and short-term borrowings ( if any ) .', '3 equity includes non-cash adjustments , primarily for the additional minimum pension liability in all years and the adoption of fas 158 in 2006 .', '4 average benefit plan adjustments reflect the cumulative value of entries identified in our statement of stockholders equity under the captions 201cadjustment for adoption of fas 158 201d and 201cminimum pension liability . 201d the annual benefit plan adjustments to equity were : 2006 = ( $ 1883 ) million ; 2005 = ( $ 105 ) million ; 2004 = ( $ 285 ) million ; 2003 = $ 331 million ; and 2002 = ( $ 1537 ) million .', 'as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the current year entry value .', '5 yearly averages are calculated using balances at the start of the year and at the end of each quarter. .'] | ( in millions ) | 2006 | 2005 | 2004 | 2003 | 2002
----------|----------|----------|----------|----------|----------
net earnings | $ 2529 | $ 1825 | $ 1266 | $ 1053 | $ 500
interest expense ( multiplied by 65% ( 65 % ) ) 1 | 235 | 241 | 276 | 317 | 378
return | $ 2764 | $ 2066 | $ 1542 | $ 1370 | $ 878
average debt2 5 | $ 4727 | $ 5077 | $ 5932 | $ 6612 | $ 7491
average equity3 5 | 7686 | 7590 | 7015 | 6170 | 6853
average benefit plan adjustments3 45 | 2006 | 1545 | 1296 | 1504 | 341
average invested capital | $ 14419 | $ 14212 | $ 14243 | $ 14286 | $ 14685
return on invested capital | 19.2% ( 19.2 % ) | 14.5% ( 14.5 % ) | 10.8% ( 10.8 % ) | 9.6% ( 9.6 % ) | 6.0% ( 6.0 % ) | table_average(net earnings, none) | 1434.6 |
what was the percent f the purchase obligations in 2006 set aside for the contract for the purchase of pulpwood , logs and wood chips | Background: ['contractual obligations for future payments under existing debt and lease commitments and purchase obli- gations at december 31 , 2005 , were as follows : in millions 2006 2007 2008 2009 2010 thereafter .']
Data Table:
in millions 2006 2007 2008 2009 2010 thereafter
total debt $ 1181 $ 570 $ 308 $ 2330 $ 1534 $ 6281
lease obligations 172 144 119 76 63 138
purchase obligations ( a ) 3264 393 280 240 204 1238
total $ 4617 $ 1107 $ 707 $ 2646 $ 1801 $ 7657
Post-table: ['( a ) the 2006 amount includes $ 2.4 billion for contracts made in the ordinary course of business to purchase pulpwood , logs and wood chips .', 'the majority of our other purchase obligations are take-or-pay or purchase commitments made in the ordinary course of business related to raw material purchases and energy contracts .', 'other significant items include purchase obligations related to contracted services .', 'transformation plan in july 2005 , the company announced a plan to focus its business portfolio on two key global platform businesses : uncoated papers ( including distribution ) and packaging .', 'the plan also focuses on improving shareholder return through mill realignments in those two businesses , additional cost improvements and exploring strategic options for other businesses , includ- ing possible sale or spin-off .', 'in connection with this process , in the third quarter of 2005 , the company completed the sale of its 50.5% ( 50.5 % ) interest in carter holt harvey limited .', 'other businesses currently under re- view include : 2022 the coated and supercalendered papers busi- ness , including the coated groundwood mill and associated assets in brazil , 2022 the beverage packaging business , including the pine bluff , arkansas mill , 2022 the kraft papers business , including the roa- noke rapids , north carolina mill , 2022 arizona chemical , 2022 the wood products business , and 2022 segments or potentially all of the company 2019s 6.5 million acres of u.s .', 'forestlands .', 'consistent with this evaluation process , the com- pany has distributed bid package information for some of these businesses .', 'the exact timing of this evaluation process will vary by business ; however , it is anticipated that decisions will be made for some of these businesses during 2006 .', 'while the exact use of any proceeds from potential future sales is dependent upon various factors affecting future cash flows , such as the amount of any proceeds received and changes in market conditions , input costs and capital spending , the company remains committed to using its free cash flow in 2006 to pay down debt , to return value to shareholders , and for se- lective high-return investments .', 'critical accounting policies the preparation of financial statements in con- formity with generally accepted accounting principles in the united states requires international paper to estab- lish accounting policies and to make estimates that af- fect both the amounts and timing of the recording of assets , liabilities , revenues and expenses .', 'some of these estimates require judgments about matters that are in- herently uncertain .', 'accounting policies whose application may have a significant effect on the reported results of operations and financial position of international paper , and that can require judgments by management that affect their application , include sfas no .', '5 , 201caccounting for contingencies , 201d sfas no .', '144 , 201caccounting for the impairment or disposal of long-lived assets , 201d sfas no .', '142 , 201cgoodwill and other intangible assets , 201d sfas no .', '87 , 201cemployers 2019 accounting for pensions , 201d sfas no .', '106 , 201cemployers 2019 accounting for postretirement benefits other than pensions , 201d as amended by sfas nos .', '132 and 132r , 201cemployers 2019 disclosures about pension and other postretirement benefits , 201d and sfas no .', '109 , 201caccounting for income taxes . 201d the following is a discussion of the impact of these accounting policies on international paper : contingent liabilities .', 'accruals for contingent li- abilities , including legal and environmental matters , are recorded when it is probable that a liability has been incurred or an asset impaired and the amount of the loss can be reasonably estimated .', 'liabilities accrued for legal matters require judgments regarding projected outcomes and range of loss based on historical experience and recommendations of legal counsel .', 'additionally , as dis- cussed in note 10 of the notes to consolidated finan- cial statements in item 8 .', 'financial statements and supplementary data , reserves for projected future claims settlements relating to exterior siding and roofing prod- ucts previously manufactured by masonite require judgments regarding projections of future claims rates and amounts .', 'international paper utilizes an in- dependent third party consultant to assist in developing these estimates .', 'liabilities for environmental matters require evaluations of relevant environmental regu- lations and estimates of future remediation alternatives and costs .', 'international paper determines these esti- mates after a detailed evaluation of each site .', 'impairment of long-lived assets and goodwill .', 'an impairment of a long-lived asset exists when the asset 2019s carrying amount exceeds its fair value , and is recorded when the carrying amount is not recoverable through future operations .', 'a goodwill impairment exists when the carrying amount of goodwill exceeds its fair value .', 'assessments of possible impairments of long-lived assets and goodwill are made when events or changes in cir- cumstances indicate that the carrying value of the asset .'] | 0.00074 | IP/2005/page_35.pdf-3 | ['contractual obligations for future payments under existing debt and lease commitments and purchase obli- gations at december 31 , 2005 , were as follows : in millions 2006 2007 2008 2009 2010 thereafter .'] | ['( a ) the 2006 amount includes $ 2.4 billion for contracts made in the ordinary course of business to purchase pulpwood , logs and wood chips .', 'the majority of our other purchase obligations are take-or-pay or purchase commitments made in the ordinary course of business related to raw material purchases and energy contracts .', 'other significant items include purchase obligations related to contracted services .', 'transformation plan in july 2005 , the company announced a plan to focus its business portfolio on two key global platform businesses : uncoated papers ( including distribution ) and packaging .', 'the plan also focuses on improving shareholder return through mill realignments in those two businesses , additional cost improvements and exploring strategic options for other businesses , includ- ing possible sale or spin-off .', 'in connection with this process , in the third quarter of 2005 , the company completed the sale of its 50.5% ( 50.5 % ) interest in carter holt harvey limited .', 'other businesses currently under re- view include : 2022 the coated and supercalendered papers busi- ness , including the coated groundwood mill and associated assets in brazil , 2022 the beverage packaging business , including the pine bluff , arkansas mill , 2022 the kraft papers business , including the roa- noke rapids , north carolina mill , 2022 arizona chemical , 2022 the wood products business , and 2022 segments or potentially all of the company 2019s 6.5 million acres of u.s .', 'forestlands .', 'consistent with this evaluation process , the com- pany has distributed bid package information for some of these businesses .', 'the exact timing of this evaluation process will vary by business ; however , it is anticipated that decisions will be made for some of these businesses during 2006 .', 'while the exact use of any proceeds from potential future sales is dependent upon various factors affecting future cash flows , such as the amount of any proceeds received and changes in market conditions , input costs and capital spending , the company remains committed to using its free cash flow in 2006 to pay down debt , to return value to shareholders , and for se- lective high-return investments .', 'critical accounting policies the preparation of financial statements in con- formity with generally accepted accounting principles in the united states requires international paper to estab- lish accounting policies and to make estimates that af- fect both the amounts and timing of the recording of assets , liabilities , revenues and expenses .', 'some of these estimates require judgments about matters that are in- herently uncertain .', 'accounting policies whose application may have a significant effect on the reported results of operations and financial position of international paper , and that can require judgments by management that affect their application , include sfas no .', '5 , 201caccounting for contingencies , 201d sfas no .', '144 , 201caccounting for the impairment or disposal of long-lived assets , 201d sfas no .', '142 , 201cgoodwill and other intangible assets , 201d sfas no .', '87 , 201cemployers 2019 accounting for pensions , 201d sfas no .', '106 , 201cemployers 2019 accounting for postretirement benefits other than pensions , 201d as amended by sfas nos .', '132 and 132r , 201cemployers 2019 disclosures about pension and other postretirement benefits , 201d and sfas no .', '109 , 201caccounting for income taxes . 201d the following is a discussion of the impact of these accounting policies on international paper : contingent liabilities .', 'accruals for contingent li- abilities , including legal and environmental matters , are recorded when it is probable that a liability has been incurred or an asset impaired and the amount of the loss can be reasonably estimated .', 'liabilities accrued for legal matters require judgments regarding projected outcomes and range of loss based on historical experience and recommendations of legal counsel .', 'additionally , as dis- cussed in note 10 of the notes to consolidated finan- cial statements in item 8 .', 'financial statements and supplementary data , reserves for projected future claims settlements relating to exterior siding and roofing prod- ucts previously manufactured by masonite require judgments regarding projections of future claims rates and amounts .', 'international paper utilizes an in- dependent third party consultant to assist in developing these estimates .', 'liabilities for environmental matters require evaluations of relevant environmental regu- lations and estimates of future remediation alternatives and costs .', 'international paper determines these esti- mates after a detailed evaluation of each site .', 'impairment of long-lived assets and goodwill .', 'an impairment of a long-lived asset exists when the asset 2019s carrying amount exceeds its fair value , and is recorded when the carrying amount is not recoverable through future operations .', 'a goodwill impairment exists when the carrying amount of goodwill exceeds its fair value .', 'assessments of possible impairments of long-lived assets and goodwill are made when events or changes in cir- cumstances indicate that the carrying value of the asset .'] | in millions 2006 2007 2008 2009 2010 thereafter
total debt $ 1181 $ 570 $ 308 $ 2330 $ 1534 $ 6281
lease obligations 172 144 119 76 63 138
purchase obligations ( a ) 3264 393 280 240 204 1238
total $ 4617 $ 1107 $ 707 $ 2646 $ 1801 $ 7657 | divide(2.4, 3264) | 0.00074 |
in 2011 what percentage of total subsidiary trusts obligations are due to bank subsidiary? | Pre-text: ['cgmhi has committed long-term financing facilities with unaffiliated banks .', 'at december 31 , 2010 , cgmhi had drawn down the full $ 900 million available under these facilities , of which $ 150 million is guaranteed by citigroup .', 'generally , a bank can terminate these facilities by giving cgmhi one-year prior notice .', 'the company issues both fixed and variable rate debt in a range of currencies .', 'it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt .', 'the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged .', 'in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances .', 'at december 31 , 2010 , the company 2019s overall weighted average interest rate for long-term debt was 3.53% ( 3.53 % ) on a contractual basis and 2.78% ( 2.78 % ) including the effects of derivative contracts .', 'aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows : long-term debt at december 31 , 2010 and december 31 , 2009 includes $ 18131 million and $ 19345 million , respectively , of junior subordinated debt .', 'the company formed statutory business trusts under the laws of the state of delaware .', 'the trusts exist for the exclusive purposes of ( i ) issuing trust securities representing undivided beneficial interests in the assets of the trust ; ( ii ) investing the gross proceeds of the trust securities in junior subordinated deferrable interest debentures ( subordinated debentures ) of its parent ; and ( iii ) engaging in only those activities necessary or incidental thereto .', 'upon approval from the federal reserve , citigroup has the right to redeem these securities .', 'citigroup has contractually agreed not to redeem or purchase ( i ) the 6.50% ( 6.50 % ) enhanced trust preferred securities of citigroup capital xv before september 15 , 2056 , ( ii ) the 6.45% ( 6.45 % ) enhanced trust preferred securities of citigroup capital xvi before december 31 , 2046 , ( iii ) the 6.35% ( 6.35 % ) enhanced trust preferred securities of citigroup capital xvii before march 15 , 2057 , ( iv ) the 6.829% ( 6.829 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xviii before june 28 , 2047 , ( v ) the 7.250% ( 7.250 % ) enhanced trust preferred securities of citigroup capital xix before august 15 , 2047 , ( vi ) the 7.875% ( 7.875 % ) enhanced trust preferred securities of citigroup capital xx before december 15 , 2067 , and ( vii ) the 8.300% ( 8.300 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xxi before december 21 , 2067 , unless certain conditions , described in exhibit 4.03 to citigroup 2019s current report on form 8-k filed on september 18 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on november 28 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on march 8 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on july 2 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on august 17 , 2007 , in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on november 27 , 2007 , and in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on december 21 , 2007 , respectively , are met .', 'these agreements are for the benefit of the holders of citigroup 2019s 6.00% ( 6.00 % ) junior subordinated deferrable interest debentures due 2034 .', 'citigroup owns all of the voting securities of these subsidiary trusts .', 'these subsidiary trusts have no assets , operations , revenues or cash flows other than those related to the issuance , administration , and repayment of the subsidiary trusts and the subsidiary trusts 2019 common securities .', 'these subsidiary trusts 2019 obligations are fully and unconditionally guaranteed by citigroup. .']
Tabular Data:
• in millions of dollars, 2011, 2012, 2013, 2014, 2015, thereafter
• bank, $ 35066, $ 38280, $ 8013, $ 7620, $ 6380, $ 17875
• non-bank, 15213, 25950, 7858, 5187, 3416, 18381
• parent company, 21194, 30004, 21348, 19096, 12131, 88171
• total, $ 71473, $ 94234, $ 37219, $ 31903, $ 21927, $ 124427
Follow-up: ['.'] | 0.49062 | C/2010/page_229.pdf-3 | ['cgmhi has committed long-term financing facilities with unaffiliated banks .', 'at december 31 , 2010 , cgmhi had drawn down the full $ 900 million available under these facilities , of which $ 150 million is guaranteed by citigroup .', 'generally , a bank can terminate these facilities by giving cgmhi one-year prior notice .', 'the company issues both fixed and variable rate debt in a range of currencies .', 'it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt .', 'the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged .', 'in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances .', 'at december 31 , 2010 , the company 2019s overall weighted average interest rate for long-term debt was 3.53% ( 3.53 % ) on a contractual basis and 2.78% ( 2.78 % ) including the effects of derivative contracts .', 'aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows : long-term debt at december 31 , 2010 and december 31 , 2009 includes $ 18131 million and $ 19345 million , respectively , of junior subordinated debt .', 'the company formed statutory business trusts under the laws of the state of delaware .', 'the trusts exist for the exclusive purposes of ( i ) issuing trust securities representing undivided beneficial interests in the assets of the trust ; ( ii ) investing the gross proceeds of the trust securities in junior subordinated deferrable interest debentures ( subordinated debentures ) of its parent ; and ( iii ) engaging in only those activities necessary or incidental thereto .', 'upon approval from the federal reserve , citigroup has the right to redeem these securities .', 'citigroup has contractually agreed not to redeem or purchase ( i ) the 6.50% ( 6.50 % ) enhanced trust preferred securities of citigroup capital xv before september 15 , 2056 , ( ii ) the 6.45% ( 6.45 % ) enhanced trust preferred securities of citigroup capital xvi before december 31 , 2046 , ( iii ) the 6.35% ( 6.35 % ) enhanced trust preferred securities of citigroup capital xvii before march 15 , 2057 , ( iv ) the 6.829% ( 6.829 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xviii before june 28 , 2047 , ( v ) the 7.250% ( 7.250 % ) enhanced trust preferred securities of citigroup capital xix before august 15 , 2047 , ( vi ) the 7.875% ( 7.875 % ) enhanced trust preferred securities of citigroup capital xx before december 15 , 2067 , and ( vii ) the 8.300% ( 8.300 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xxi before december 21 , 2067 , unless certain conditions , described in exhibit 4.03 to citigroup 2019s current report on form 8-k filed on september 18 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on november 28 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on march 8 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on july 2 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on august 17 , 2007 , in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on november 27 , 2007 , and in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on december 21 , 2007 , respectively , are met .', 'these agreements are for the benefit of the holders of citigroup 2019s 6.00% ( 6.00 % ) junior subordinated deferrable interest debentures due 2034 .', 'citigroup owns all of the voting securities of these subsidiary trusts .', 'these subsidiary trusts have no assets , operations , revenues or cash flows other than those related to the issuance , administration , and repayment of the subsidiary trusts and the subsidiary trusts 2019 common securities .', 'these subsidiary trusts 2019 obligations are fully and unconditionally guaranteed by citigroup. .'] | ['.'] | • in millions of dollars, 2011, 2012, 2013, 2014, 2015, thereafter
• bank, $ 35066, $ 38280, $ 8013, $ 7620, $ 6380, $ 17875
• non-bank, 15213, 25950, 7858, 5187, 3416, 18381
• parent company, 21194, 30004, 21348, 19096, 12131, 88171
• total, $ 71473, $ 94234, $ 37219, $ 31903, $ 21927, $ 124427 | divide(35066, 71473) | 0.49062 |
was the total 2016 non-vested incentive/ performance units shares weighted- average grant date fair value greater than the non-vested restricted share/ restricted share units weighted average grant date value? | Background: ['at december 31 , 2015 and 2014 , options for 5 million and 6 million shares of common stock were exercisable at a weighted-average price of $ 55.42 and $ 56.21 , respectively .', 'the total intrinsic value of options exercised was approximately $ .1 billion during 2016 , 2015 and 2014 .', 'cash received from option exercises under all incentive plans for 2016 , 2015 and 2014 was approximately $ .1 billion , $ .1 billion and $ .2 billion , respectively .', 'the tax benefit realized from option exercises under all incentive plans was insignificant for 2016 , 2015 and 2014 .', 'shares of common stock available during the next year for the granting of options and other awards under the incentive plans were approximately 39 million shares at december 31 , 2016 .', 'total shares of pnc common stock authorized for future issuance under all equity compensation plans totaled approximately 40 million shares at december 31 , 2016 .', 'during 2016 , we issued approximately 2 million common shares from treasury stock in connection with stock option exercise activity .', 'as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises .', 'incentive/performance unit awards and restricted share/restricted share unit awards the fair value of nonvested incentive/performance unit awards and restricted share/restricted share unit awards is initially determined based on prices not less than the market value of our common stock on the date of grant with a reduction for estimated forfeitures .', 'the value of certain incentive/ performance unit awards is subsequently remeasured based on the achievement of one or more financial and other performance goals .', 'additionally , certain incentive/ performance unit awards require subsequent adjustment to their current market value due to certain discretionary risk review triggers .', 'the weighted-average grant date fair value of incentive/ performance unit awards and restricted share/restricted share unit awards granted in 2016 , 2015 and 2014 was $ 78.37 , $ 91.57 and $ 80.79 per share , respectively .', 'the total intrinsic value of incentive/performance unit and restricted share/ restricted share unit awards vested during 2016 , 2015 and 2014 was approximately $ .1 billion , $ .2 billion and $ .1 billion , respectively .', 'we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program .', 'table 78 : nonvested incentive/performance unit awards and restricted share/restricted share unit awards 2013 rollforward ( a ) shares in millions nonvested incentive/ performance units shares weighted- average date fair nonvested restricted share/ restricted weighted- average grant date fair value .']
Data Table:
****************************************
shares in millions december 31 2015 | nonvested incentive/ performance units shares 2 | weighted- average grant date fair value $ 79.27 | nonvested restricted share/ restricted share units 3 | weighted- average grant date fair value $ 79.26
----------|----------|----------|----------|----------
granted ( b ) | 1 | $ 77.77 | 1 | $ 78.71
vested/released ( b ) | -1 ( 1 ) | $ 71.59 | -1 ( 1 ) | $ 65.53
december 31 2016 | 2 | $ 81.42 | 3 | $ 83.27
****************************************
Follow-up: ['( a ) forfeited awards during 2016 were insignificant .', '( b ) includes adjustments for achieving specific performance goals for incentive/ performance unit share awards granted in prior periods .', 'in table 78 , the units and related weighted-average grant date fair value of the incentive/performance unit share awards exclude the effect of dividends on the underlying shares , as those dividends will be paid in cash if and when the underlying shares are issued to the participants .', 'blackrock long-term incentive plans ( ltip ) blackrock adopted the 2002 ltip program to help attract and retain qualified professionals .', 'at that time , we agreed to transfer up to four million shares of blackrock common stock to fund a portion of the 2002 ltip program and future ltip programs approved by blackrock 2019s board of directors .', 'in 2009 , our obligation to deliver any remaining blackrock common shares was replaced with an obligation to deliver shares of blackrock 2019s series c preferred stock held by us .', 'in 2016 , we transferred .5 million shares of blackrock series c preferred stock to blackrock in connection with our obligation .', 'at december 31 , 2016 , we held approximately .8 million shares of blackrock series c preferred stock which were available to fund our obligations .', 'see note 23 subsequent events for information on our february 1 , 2017 transfer of .5 million shares of the series c preferred stock to blackrock to satisfy a portion of our ltip obligation .', 'we account for our blackrock series c preferred stock at fair value , which offsets the impact of marking-to-market the obligation to deliver these shares to blackrock .', 'see note 6 fair value for additional information regarding the valuation of the blackrock series c preferred stock .', 'the pnc financial services group , inc .', '2013 form 10-k 139 .'] | no | PNC/2016/page_155.pdf-2 | ['at december 31 , 2015 and 2014 , options for 5 million and 6 million shares of common stock were exercisable at a weighted-average price of $ 55.42 and $ 56.21 , respectively .', 'the total intrinsic value of options exercised was approximately $ .1 billion during 2016 , 2015 and 2014 .', 'cash received from option exercises under all incentive plans for 2016 , 2015 and 2014 was approximately $ .1 billion , $ .1 billion and $ .2 billion , respectively .', 'the tax benefit realized from option exercises under all incentive plans was insignificant for 2016 , 2015 and 2014 .', 'shares of common stock available during the next year for the granting of options and other awards under the incentive plans were approximately 39 million shares at december 31 , 2016 .', 'total shares of pnc common stock authorized for future issuance under all equity compensation plans totaled approximately 40 million shares at december 31 , 2016 .', 'during 2016 , we issued approximately 2 million common shares from treasury stock in connection with stock option exercise activity .', 'as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises .', 'incentive/performance unit awards and restricted share/restricted share unit awards the fair value of nonvested incentive/performance unit awards and restricted share/restricted share unit awards is initially determined based on prices not less than the market value of our common stock on the date of grant with a reduction for estimated forfeitures .', 'the value of certain incentive/ performance unit awards is subsequently remeasured based on the achievement of one or more financial and other performance goals .', 'additionally , certain incentive/ performance unit awards require subsequent adjustment to their current market value due to certain discretionary risk review triggers .', 'the weighted-average grant date fair value of incentive/ performance unit awards and restricted share/restricted share unit awards granted in 2016 , 2015 and 2014 was $ 78.37 , $ 91.57 and $ 80.79 per share , respectively .', 'the total intrinsic value of incentive/performance unit and restricted share/ restricted share unit awards vested during 2016 , 2015 and 2014 was approximately $ .1 billion , $ .2 billion and $ .1 billion , respectively .', 'we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program .', 'table 78 : nonvested incentive/performance unit awards and restricted share/restricted share unit awards 2013 rollforward ( a ) shares in millions nonvested incentive/ performance units shares weighted- average date fair nonvested restricted share/ restricted weighted- average grant date fair value .'] | ['( a ) forfeited awards during 2016 were insignificant .', '( b ) includes adjustments for achieving specific performance goals for incentive/ performance unit share awards granted in prior periods .', 'in table 78 , the units and related weighted-average grant date fair value of the incentive/performance unit share awards exclude the effect of dividends on the underlying shares , as those dividends will be paid in cash if and when the underlying shares are issued to the participants .', 'blackrock long-term incentive plans ( ltip ) blackrock adopted the 2002 ltip program to help attract and retain qualified professionals .', 'at that time , we agreed to transfer up to four million shares of blackrock common stock to fund a portion of the 2002 ltip program and future ltip programs approved by blackrock 2019s board of directors .', 'in 2009 , our obligation to deliver any remaining blackrock common shares was replaced with an obligation to deliver shares of blackrock 2019s series c preferred stock held by us .', 'in 2016 , we transferred .5 million shares of blackrock series c preferred stock to blackrock in connection with our obligation .', 'at december 31 , 2016 , we held approximately .8 million shares of blackrock series c preferred stock which were available to fund our obligations .', 'see note 23 subsequent events for information on our february 1 , 2017 transfer of .5 million shares of the series c preferred stock to blackrock to satisfy a portion of our ltip obligation .', 'we account for our blackrock series c preferred stock at fair value , which offsets the impact of marking-to-market the obligation to deliver these shares to blackrock .', 'see note 6 fair value for additional information regarding the valuation of the blackrock series c preferred stock .', 'the pnc financial services group , inc .', '2013 form 10-k 139 .'] | ****************************************
shares in millions december 31 2015 | nonvested incentive/ performance units shares 2 | weighted- average grant date fair value $ 79.27 | nonvested restricted share/ restricted share units 3 | weighted- average grant date fair value $ 79.26
----------|----------|----------|----------|----------
granted ( b ) | 1 | $ 77.77 | 1 | $ 78.71
vested/released ( b ) | -1 ( 1 ) | $ 71.59 | -1 ( 1 ) | $ 65.53
december 31 2016 | 2 | $ 81.42 | 3 | $ 83.27
**************************************** | greater(81.42, 83.27) | no |
in 2013 , what percent of short duration advances is from the us? | Context: ['management 2019s discussion and analysis of financial condition and results of operations ( continued ) the following table presents average u.s .', 'and non-u.s .', 'short-duration advances for the years ended december 31 : years ended december 31 .']
########
Table:
========================================
Row 1: ( in millions ), 2013, 2012, 2011
Row 2: average u.s . short-duration advances, $ 2356, $ 1972, $ 1994
Row 3: average non-u.s . short-duration advances, 1393, 1393, 1585
Row 4: average total short-duration advances, $ 3749, $ 3365, $ 3579
========================================
########
Post-table: ['although average short-duration advances for the year ended december 31 , 2013 increased compared to the year ended december 31 , 2012 , such average advances remained low relative to historical levels , mainly the result of clients continuing to hold higher levels of liquidity .', 'average other interest-earning assets increased to $ 11.16 billion for the year ended december 31 , 2013 from $ 7.38 billion for the year ended december 31 , 2012 .', 'the increased levels were primarily the result of higher levels of cash collateral provided in connection with our participation in principal securities finance transactions .', 'aggregate average interest-bearing deposits increased to $ 109.25 billion for the year ended december 31 , 2013 from $ 98.39 billion for the year ended december 31 , 2012 .', 'this increase was mainly due to higher levels of non-u.s .', 'transaction accounts associated with the growth of new and existing business in assets under custody and administration .', 'future transaction account levels will be influenced by the underlying asset servicing business , as well as market conditions , including the general levels of u.s .', 'and non-u.s .', 'interest rates .', 'average other short-term borrowings declined to $ 3.79 billion for the year ended december 31 , 2013 from $ 4.68 billion for the year ended december 31 , 2012 , as higher levels of client deposits provided additional liquidity .', 'average long-term debt increased to $ 8.42 billion for the year ended december 31 , 2013 from $ 7.01 billion for the year ended december 31 , 2012 .', 'the increase primarily reflected the issuance of $ 1.0 billion of extendible notes by state street bank in december 2012 , the issuance of $ 1.5 billion of senior and subordinated debt in may 2013 , and the issuance of $ 1.0 billion of senior debt in november 2013 .', 'this increase was partly offset by maturities of $ 1.75 billion of senior debt in the second quarter of 2012 .', 'average other interest-bearing liabilities increased to $ 6.46 billion for the year ended december 31 , 2013 from $ 5.90 billion for the year ended december 31 , 2012 , primarily the result of higher levels of cash collateral received from clients in connection with our participation in principal securities finance transactions .', 'several factors could affect future levels of our net interest revenue and margin , including the mix of client liabilities ; actions of various central banks ; changes in u.s .', 'and non-u.s .', 'interest rates ; changes in the various yield curves around the world ; revised or proposed regulatory capital or liquidity standards , or interpretations of those standards ; the amount of discount accretion generated by the former conduit securities that remain in our investment securities portfolio ; and the yields earned on securities purchased compared to the yields earned on securities sold or matured .', 'based on market conditions and other factors , we continue to reinvest the majority of the proceeds from pay- downs and maturities of investment securities in highly-rated securities , such as u.s .', 'treasury and agency securities , federal agency mortgage-backed securities and u.s .', 'and non-u.s .', 'mortgage- and asset-backed securities .', 'the pace at which we continue to reinvest and the types of investment securities purchased will depend on the impact of market conditions and other factors over time .', 'we expect these factors and the levels of global interest rates to dictate what effect our reinvestment program will have on future levels of our net interest revenue and net interest margin. .'] | 0.62843 | STT/2013/page_71.pdf-3 | ['management 2019s discussion and analysis of financial condition and results of operations ( continued ) the following table presents average u.s .', 'and non-u.s .', 'short-duration advances for the years ended december 31 : years ended december 31 .'] | ['although average short-duration advances for the year ended december 31 , 2013 increased compared to the year ended december 31 , 2012 , such average advances remained low relative to historical levels , mainly the result of clients continuing to hold higher levels of liquidity .', 'average other interest-earning assets increased to $ 11.16 billion for the year ended december 31 , 2013 from $ 7.38 billion for the year ended december 31 , 2012 .', 'the increased levels were primarily the result of higher levels of cash collateral provided in connection with our participation in principal securities finance transactions .', 'aggregate average interest-bearing deposits increased to $ 109.25 billion for the year ended december 31 , 2013 from $ 98.39 billion for the year ended december 31 , 2012 .', 'this increase was mainly due to higher levels of non-u.s .', 'transaction accounts associated with the growth of new and existing business in assets under custody and administration .', 'future transaction account levels will be influenced by the underlying asset servicing business , as well as market conditions , including the general levels of u.s .', 'and non-u.s .', 'interest rates .', 'average other short-term borrowings declined to $ 3.79 billion for the year ended december 31 , 2013 from $ 4.68 billion for the year ended december 31 , 2012 , as higher levels of client deposits provided additional liquidity .', 'average long-term debt increased to $ 8.42 billion for the year ended december 31 , 2013 from $ 7.01 billion for the year ended december 31 , 2012 .', 'the increase primarily reflected the issuance of $ 1.0 billion of extendible notes by state street bank in december 2012 , the issuance of $ 1.5 billion of senior and subordinated debt in may 2013 , and the issuance of $ 1.0 billion of senior debt in november 2013 .', 'this increase was partly offset by maturities of $ 1.75 billion of senior debt in the second quarter of 2012 .', 'average other interest-bearing liabilities increased to $ 6.46 billion for the year ended december 31 , 2013 from $ 5.90 billion for the year ended december 31 , 2012 , primarily the result of higher levels of cash collateral received from clients in connection with our participation in principal securities finance transactions .', 'several factors could affect future levels of our net interest revenue and margin , including the mix of client liabilities ; actions of various central banks ; changes in u.s .', 'and non-u.s .', 'interest rates ; changes in the various yield curves around the world ; revised or proposed regulatory capital or liquidity standards , or interpretations of those standards ; the amount of discount accretion generated by the former conduit securities that remain in our investment securities portfolio ; and the yields earned on securities purchased compared to the yields earned on securities sold or matured .', 'based on market conditions and other factors , we continue to reinvest the majority of the proceeds from pay- downs and maturities of investment securities in highly-rated securities , such as u.s .', 'treasury and agency securities , federal agency mortgage-backed securities and u.s .', 'and non-u.s .', 'mortgage- and asset-backed securities .', 'the pace at which we continue to reinvest and the types of investment securities purchased will depend on the impact of market conditions and other factors over time .', 'we expect these factors and the levels of global interest rates to dictate what effect our reinvestment program will have on future levels of our net interest revenue and net interest margin. .'] | ========================================
Row 1: ( in millions ), 2013, 2012, 2011
Row 2: average u.s . short-duration advances, $ 2356, $ 1972, $ 1994
Row 3: average non-u.s . short-duration advances, 1393, 1393, 1585
Row 4: average total short-duration advances, $ 3749, $ 3365, $ 3579
======================================== | divide(2356, 3749) | 0.62843 |
as of december 31 , 2016 what was the percent of the future expenditures under unconditional purchase obligations that was due in 2018 | Context: ['table of contents 17 .', 'unconditional purchase obligations the company has entered into various unconditional purchase obligations which primarily include software licenses and long- term purchase contracts for network , communication and office maintenance services .', 'the company expended $ 7.2 million , $ 5.3 million and $ 2.9 million related to unconditional purchase obligations that existed as of the beginning of each year for the years ended december 31 , 2016 , 2015 and 2014 , respectively .', 'future expenditures under unconditional purchase obligations in effect as of december 31 , 2016 are as follows : ( in thousands ) .']
--
Tabular Data:
2017 | $ 14134
----------|----------
2018 | 10288
2019 | 9724
2020 | 2617
2021 | 652
total | $ 37415
--
Additional Information: ['18 .', 'restructuring during the fourth quarter of 2016 , the company initiated workforce realignment activities .', 'the company incurred $ 3.4 million in restructuring charges , or $ 2.4 million net of tax , during the year ended december 31 , 2016 .', 'the company expects to incur additional charges of $ 10 million - $ 15 million , or $ 7 million - $ 10 million net of tax , primarily during the first quarter of 2017 .', '19 .', 'employment-related settlement on february 15 , 2017 , the company entered into an employment-related settlement agreement .', 'in connection with the settlement agreement , the company will make a lump-sum payment of $ 4.7 million .', 'the charges related to this agreement are included in selling , general and administrative expense in the 2016 consolidated statement of income .', 'as part of the settlement agreement , all the claims initiated against the company will be withdrawn and a general release of all claims in favor of the company and all of its related entities was executed .', '20 .', 'contingencies and commitments the company is subject to various investigations , claims and legal proceedings that arise in the ordinary course of business , including commercial disputes , labor and employment matters , tax audits , alleged infringement of intellectual property rights and other matters .', "in the opinion of the company , the resolution of pending matters is not expected to have a material adverse effect on the company's consolidated results of operations , cash flows or financial position .", "however , each of these matters is subject to various uncertainties and it is possible that an unfavorable resolution of one or more of these proceedings could materially affect the company's results of operations , cash flows or financial position .", 'an indian subsidiary of the company has several service tax audits pending that have resulted in formal inquiries being received on transactions through mid-2012 .', 'the company could incur tax charges and related liabilities , including those related to the service tax audit case , of approximately $ 7 million .', 'the service tax issues raised in the company 2019s notices and inquiries are very similar to the case , m/s microsoft corporation ( i ) ( p ) ltd .', 'vs commissioner of service tax , new delhi , wherein the delhi customs , excise and service tax appellate tribunal ( cestat ) has passed a favorable ruling to microsoft .', 'the company can provide no assurances on whether the microsoft case 2019s favorable ruling will be challenged in higher courts or on the impact that the present microsoft case 2019s decision will have on the company 2019s cases .', 'the company is uncertain as to when these service tax matters will be concluded .', "a french subsidiary of the company received notice that the french taxing authority rejected the company's 2012 research and development credit .", 'the company has contested the decision .', 'however , if the company does not receive a favorable outcome , it could incur charges of approximately $ 0.8 million .', 'in addition , an unfavorable outcome could result in the authorities reviewing or rejecting $ 3.8 million of similar research and development credits for 2013 through the current year that are currently reflected as an asset .', 'the company can provide no assurances on the timing or outcome of this matter. .'] | 0.27497 | ANSS/2016/page_85.pdf-1 | ['table of contents 17 .', 'unconditional purchase obligations the company has entered into various unconditional purchase obligations which primarily include software licenses and long- term purchase contracts for network , communication and office maintenance services .', 'the company expended $ 7.2 million , $ 5.3 million and $ 2.9 million related to unconditional purchase obligations that existed as of the beginning of each year for the years ended december 31 , 2016 , 2015 and 2014 , respectively .', 'future expenditures under unconditional purchase obligations in effect as of december 31 , 2016 are as follows : ( in thousands ) .'] | ['18 .', 'restructuring during the fourth quarter of 2016 , the company initiated workforce realignment activities .', 'the company incurred $ 3.4 million in restructuring charges , or $ 2.4 million net of tax , during the year ended december 31 , 2016 .', 'the company expects to incur additional charges of $ 10 million - $ 15 million , or $ 7 million - $ 10 million net of tax , primarily during the first quarter of 2017 .', '19 .', 'employment-related settlement on february 15 , 2017 , the company entered into an employment-related settlement agreement .', 'in connection with the settlement agreement , the company will make a lump-sum payment of $ 4.7 million .', 'the charges related to this agreement are included in selling , general and administrative expense in the 2016 consolidated statement of income .', 'as part of the settlement agreement , all the claims initiated against the company will be withdrawn and a general release of all claims in favor of the company and all of its related entities was executed .', '20 .', 'contingencies and commitments the company is subject to various investigations , claims and legal proceedings that arise in the ordinary course of business , including commercial disputes , labor and employment matters , tax audits , alleged infringement of intellectual property rights and other matters .', "in the opinion of the company , the resolution of pending matters is not expected to have a material adverse effect on the company's consolidated results of operations , cash flows or financial position .", "however , each of these matters is subject to various uncertainties and it is possible that an unfavorable resolution of one or more of these proceedings could materially affect the company's results of operations , cash flows or financial position .", 'an indian subsidiary of the company has several service tax audits pending that have resulted in formal inquiries being received on transactions through mid-2012 .', 'the company could incur tax charges and related liabilities , including those related to the service tax audit case , of approximately $ 7 million .', 'the service tax issues raised in the company 2019s notices and inquiries are very similar to the case , m/s microsoft corporation ( i ) ( p ) ltd .', 'vs commissioner of service tax , new delhi , wherein the delhi customs , excise and service tax appellate tribunal ( cestat ) has passed a favorable ruling to microsoft .', 'the company can provide no assurances on whether the microsoft case 2019s favorable ruling will be challenged in higher courts or on the impact that the present microsoft case 2019s decision will have on the company 2019s cases .', 'the company is uncertain as to when these service tax matters will be concluded .', "a french subsidiary of the company received notice that the french taxing authority rejected the company's 2012 research and development credit .", 'the company has contested the decision .', 'however , if the company does not receive a favorable outcome , it could incur charges of approximately $ 0.8 million .', 'in addition , an unfavorable outcome could result in the authorities reviewing or rejecting $ 3.8 million of similar research and development credits for 2013 through the current year that are currently reflected as an asset .', 'the company can provide no assurances on the timing or outcome of this matter. .'] | 2017 | $ 14134
----------|----------
2018 | 10288
2019 | 9724
2020 | 2617
2021 | 652
total | $ 37415 | divide(10288, 37415) | 0.27497 |
based on the table , what would be the annual percent return for the companies investments? | Pre-text: ['during the first quarter of fiscal 2010 , the company recorded an additional charge of $ 4.7 million related to this cost reduction action .', 'approximately $ 3.4 million of the charge related to lease obligation costs for the cambridge wafer fabrication facility , which the company ceased using in the first quarter of fiscal 2010 .', 'the remaining $ 1.3 million of the charge related to clean-up and closure costs that were expensed as incurred .', '6 .', 'acquisitions in fiscal 2006 , the company acquired substantially all the outstanding stock of privately-held integrant technologies , inc .', '( integrant ) of seoul , korea .', 'the acquisition enabled the company to enter the mobile tv market and strengthened its presence in the asian region .', 'the company paid $ 8.4 million related to the purchase of shares from the founder of integrant during the period from july 2007 through july 2009 .', 'the company recorded these payments as additional goodwill .', 'in fiscal 2006 , the company acquired all the outstanding stock of privately-held audioasics a/s ( audioasics ) of roskilde , denmark .', 'the acquisition of audioasics allows the company to continue developing low-power audio solutions , while expanding its presence in the nordic and eastern european regions .', 'the company paid additional cash payments of $ 3.1 million during fiscal 2009 for the achievement of revenue-based milestones during the period from october 2006 through january 2009 , which were recorded as additional goodwill .', 'in addition , the company paid $ 3.2 million during fiscal 2009 based on the achievement of technological milestones during the period from october 2006 through january 2009 , which were recorded as compensation expense in fiscal 2008 .', 'all revenue and technological milestones related to this acquisition have been met and no additional payments will be made .', 'the company has not provided pro forma results of operations for integrant and audioasics herein as they were not material to the company on either an individual or an aggregate basis .', 'the company included the results of operations of each acquisition in its consolidated statement of income from the date of such acquisition .', '7 .', 'deferred compensation plan investments investments in the analog devices , inc .', 'deferred compensation plan ( the deferred compensation plan ) are classified as trading .', 'the components of the investments as of october 30 , 2010 and october 31 , 2009 were as follows: .']
Tabular Data:
****************************************
| 2010 | 2009
money market funds | $ 1840 | $ 1730
mutual funds | 6850 | 6213
total deferred compensation plan investments 2014 short and long-term | $ 8690 | $ 7943
****************************************
Post-table: ['the fair values of these investments are based on published market quotes on october 30 , 2010 and october 31 , 2009 , respectively .', 'adjustments to the fair value of , and income pertaining to , deferred compensation plan investments are recorded in operating expenses .', 'gross realized and unrealized gains and losses from trading securities were not material in fiscal 2010 , 2009 or 2008 .', 'the company has recorded a corresponding liability for amounts owed to the deferred compensation plan participants ( see note 10 ) .', 'these investments are specifically designated as available to the company solely for the purpose of paying benefits under the deferred compensation plan .', 'however , in the event the company became insolvent , the investments would be available to all unsecured general creditors .', '8 .', 'other investments other investments consist of equity securities and other long-term investments .', 'investments are stated at fair value , which is based on market quotes or on a cost-basis , dependent on the nature of the investment , as appropriate .', 'adjustments to the fair value of investments classified as available-for-sale are recorded as an increase or decrease analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | 0.09405 | ADI/2010/page_80.pdf-3 | ['during the first quarter of fiscal 2010 , the company recorded an additional charge of $ 4.7 million related to this cost reduction action .', 'approximately $ 3.4 million of the charge related to lease obligation costs for the cambridge wafer fabrication facility , which the company ceased using in the first quarter of fiscal 2010 .', 'the remaining $ 1.3 million of the charge related to clean-up and closure costs that were expensed as incurred .', '6 .', 'acquisitions in fiscal 2006 , the company acquired substantially all the outstanding stock of privately-held integrant technologies , inc .', '( integrant ) of seoul , korea .', 'the acquisition enabled the company to enter the mobile tv market and strengthened its presence in the asian region .', 'the company paid $ 8.4 million related to the purchase of shares from the founder of integrant during the period from july 2007 through july 2009 .', 'the company recorded these payments as additional goodwill .', 'in fiscal 2006 , the company acquired all the outstanding stock of privately-held audioasics a/s ( audioasics ) of roskilde , denmark .', 'the acquisition of audioasics allows the company to continue developing low-power audio solutions , while expanding its presence in the nordic and eastern european regions .', 'the company paid additional cash payments of $ 3.1 million during fiscal 2009 for the achievement of revenue-based milestones during the period from october 2006 through january 2009 , which were recorded as additional goodwill .', 'in addition , the company paid $ 3.2 million during fiscal 2009 based on the achievement of technological milestones during the period from october 2006 through january 2009 , which were recorded as compensation expense in fiscal 2008 .', 'all revenue and technological milestones related to this acquisition have been met and no additional payments will be made .', 'the company has not provided pro forma results of operations for integrant and audioasics herein as they were not material to the company on either an individual or an aggregate basis .', 'the company included the results of operations of each acquisition in its consolidated statement of income from the date of such acquisition .', '7 .', 'deferred compensation plan investments investments in the analog devices , inc .', 'deferred compensation plan ( the deferred compensation plan ) are classified as trading .', 'the components of the investments as of october 30 , 2010 and october 31 , 2009 were as follows: .'] | ['the fair values of these investments are based on published market quotes on october 30 , 2010 and october 31 , 2009 , respectively .', 'adjustments to the fair value of , and income pertaining to , deferred compensation plan investments are recorded in operating expenses .', 'gross realized and unrealized gains and losses from trading securities were not material in fiscal 2010 , 2009 or 2008 .', 'the company has recorded a corresponding liability for amounts owed to the deferred compensation plan participants ( see note 10 ) .', 'these investments are specifically designated as available to the company solely for the purpose of paying benefits under the deferred compensation plan .', 'however , in the event the company became insolvent , the investments would be available to all unsecured general creditors .', '8 .', 'other investments other investments consist of equity securities and other long-term investments .', 'investments are stated at fair value , which is based on market quotes or on a cost-basis , dependent on the nature of the investment , as appropriate .', 'adjustments to the fair value of investments classified as available-for-sale are recorded as an increase or decrease analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) .'] | ****************************************
| 2010 | 2009
money market funds | $ 1840 | $ 1730
mutual funds | 6850 | 6213
total deferred compensation plan investments 2014 short and long-term | $ 8690 | $ 7943
**************************************** | subtract(8690, 7943), divide(#0, 7943) | 0.09405 |
what is the percentage increase in the balance of goodwill from 2017 to 2018? | Pre-text: ['note 8 .', 'acquisitions during fiscal 2017 , cadence completed two business combinations for total cash consideration of $ 142.8 million , after taking into account cash acquired of $ 4.2 million .', 'the total purchase consideration was allocated to the assets acquired and liabilities assumed based on their respective estimated fair values on the acquisition dates .', 'cadence recorded a total of $ 76.4 million of acquired intangible assets ( of which $ 71.5 million represents in-process technology ) , $ 90.2 million of goodwill and $ 19.6 million of net liabilities consisting primarily of deferred tax liabilities .', 'cadence will also make payments to certain employees , subject to continued employment and other performance-based conditions , through the fourth quarter of fiscal 2020 .', 'during fiscal 2016 , cadence completed two business combinations for total cash consideration of $ 42.4 million , after taking into account cash acquired of $ 1.8 million .', 'the total purchase consideration was allocated to the assets acquired and liabilities assumed based on their respective estimated fair values on the acquisition dates .', 'cadence recorded a total of $ 23.6 million of goodwill , $ 23.2 million of acquired intangible assets and $ 2.6 million of net liabilities consisting primarily of deferred revenue .', 'cadence will also make payments to certain employees , subject to continued employment and other conditions , through the second quarter of fiscal a trust for the benefit of the children of lip-bu tan , cadence 2019s chief executive officer ( 201cceo 201d ) and director , owned less than 3% ( 3 % ) of nusemi inc , one of the companies acquired in 2017 , and less than 2% ( 2 % ) of rocketick technologies ltd. , one of the companies acquired in 2016 .', 'mr .', 'tan and his wife serve as co-trustees of the trust and disclaim pecuniary and economic interest in the trust .', 'the board of directors of cadence reviewed the transactions and concluded that it was in the best interests of cadence to proceed with the transactions .', 'mr .', 'tan recused himself from the board of directors 2019 discussion of the valuation of nusemi inc and rocketick technologies ltd .', 'and on whether to proceed with the transactions .', 'acquisition-related transaction costs there were no direct transaction costs associated with acquisitions during fiscal 2018 .', 'transaction costs associated with acquisitions were $ 0.6 million and $ 1.1 million during fiscal 2017 and 2016 , respectively .', 'these costs consist of professional fees and administrative costs and were expensed as incurred in cadence 2019s consolidated income statements .', 'note 9 .', 'goodwill and acquired intangibles goodwill the changes in the carrying amount of goodwill during fiscal 2018 and 2017 were as follows : gross carrying amount ( in thousands ) .']
######
Data Table:
----------------------------------------
| gross carryingamount ( in thousands )
----------|----------
balance as of december 31 2016 | $ 572764
goodwill resulting from acquisitions | 90218
effect of foreign currency translation | 3027
balance as of december 30 2017 | 666009
effect of foreign currency translation | -3737 ( 3737 )
balance as of december 29 2018 | $ 662272
----------------------------------------
######
Post-table: ['cadence completed its annual goodwill impairment test during the third quarter of fiscal 2018 and determined that the fair value of cadence 2019s single reporting unit substantially exceeded the carrying amount of its net assets and that no impairment existed. .'] | -0.00561 | CDNS/2018/page_82.pdf-3 | ['note 8 .', 'acquisitions during fiscal 2017 , cadence completed two business combinations for total cash consideration of $ 142.8 million , after taking into account cash acquired of $ 4.2 million .', 'the total purchase consideration was allocated to the assets acquired and liabilities assumed based on their respective estimated fair values on the acquisition dates .', 'cadence recorded a total of $ 76.4 million of acquired intangible assets ( of which $ 71.5 million represents in-process technology ) , $ 90.2 million of goodwill and $ 19.6 million of net liabilities consisting primarily of deferred tax liabilities .', 'cadence will also make payments to certain employees , subject to continued employment and other performance-based conditions , through the fourth quarter of fiscal 2020 .', 'during fiscal 2016 , cadence completed two business combinations for total cash consideration of $ 42.4 million , after taking into account cash acquired of $ 1.8 million .', 'the total purchase consideration was allocated to the assets acquired and liabilities assumed based on their respective estimated fair values on the acquisition dates .', 'cadence recorded a total of $ 23.6 million of goodwill , $ 23.2 million of acquired intangible assets and $ 2.6 million of net liabilities consisting primarily of deferred revenue .', 'cadence will also make payments to certain employees , subject to continued employment and other conditions , through the second quarter of fiscal a trust for the benefit of the children of lip-bu tan , cadence 2019s chief executive officer ( 201cceo 201d ) and director , owned less than 3% ( 3 % ) of nusemi inc , one of the companies acquired in 2017 , and less than 2% ( 2 % ) of rocketick technologies ltd. , one of the companies acquired in 2016 .', 'mr .', 'tan and his wife serve as co-trustees of the trust and disclaim pecuniary and economic interest in the trust .', 'the board of directors of cadence reviewed the transactions and concluded that it was in the best interests of cadence to proceed with the transactions .', 'mr .', 'tan recused himself from the board of directors 2019 discussion of the valuation of nusemi inc and rocketick technologies ltd .', 'and on whether to proceed with the transactions .', 'acquisition-related transaction costs there were no direct transaction costs associated with acquisitions during fiscal 2018 .', 'transaction costs associated with acquisitions were $ 0.6 million and $ 1.1 million during fiscal 2017 and 2016 , respectively .', 'these costs consist of professional fees and administrative costs and were expensed as incurred in cadence 2019s consolidated income statements .', 'note 9 .', 'goodwill and acquired intangibles goodwill the changes in the carrying amount of goodwill during fiscal 2018 and 2017 were as follows : gross carrying amount ( in thousands ) .'] | ['cadence completed its annual goodwill impairment test during the third quarter of fiscal 2018 and determined that the fair value of cadence 2019s single reporting unit substantially exceeded the carrying amount of its net assets and that no impairment existed. .'] | ----------------------------------------
| gross carryingamount ( in thousands )
----------|----------
balance as of december 31 2016 | $ 572764
goodwill resulting from acquisitions | 90218
effect of foreign currency translation | 3027
balance as of december 30 2017 | 666009
effect of foreign currency translation | -3737 ( 3737 )
balance as of december 29 2018 | $ 662272
---------------------------------------- | subtract(662272, 666009), divide(#0, 666009) | -0.00561 |
what is the percent change in cash flows provided by operating activities between 2018 and 2017? | Pre-text: ['zimmer biomet holdings , inc .', '2018 form 10-k annual report ( 8 ) we have incurred other various expenses from specific events or projects that we consider highly variable or have a significant impact to our operating results that we have excluded from our non-gaap financial measures .', 'this includes legal entity and operational restructuring as well as our costs of complying with our dpa with the u.s .', 'government related to certain fcpa matters involving biomet and certain of its subsidiaries .', 'under the dpa , which has a three-year term , we are subject to oversight by an independent compliance monitor , which monitorship commenced in july 2017 .', 'the excluded costs include the fees paid to the independent compliance monitor and to external legal counsel assisting in the matter .', '( 9 ) represents the tax effects on the previously specified items .', 'the tax effect for the u.s .', 'jurisdiction is calculated based on an effective rate considering federal and state taxes , as well as permanent items .', 'for jurisdictions outside the u.s. , the tax effect is calculated based upon the statutory rates where the items were incurred .', '( 10 ) the 2016 period includes negative effects from finalizing the tax accounts for the biomet merger .', 'under the applicable u.s .', 'gaap rules , these measurement period adjustments are recognized on a prospective basis in the period of change .', '( 11 ) the 2017 tax act resulted in a net favorable provisional adjustment due to the reduction of deferred tax liabilities for unremitted earnings and revaluation of deferred tax liabilities to a 21 percent rate , which was partially offset by provisional tax charges related to the toll charge provision of the 2017 tax act .', 'in 2018 , we finalized our estimates of the effects of the 2017 tax act based upon final guidance issued by u.s .', 'tax authorities .', '( 12 ) other certain tax adjustments in 2018 primarily related to changes in tax rates on deferred tax liabilities recorded on intangible assets recognized in acquisition-related accounting and adjustments from internal restructuring transactions that provide us access to offshore funds in a tax efficient manner .', 'in 2017 , other certain tax adjustments relate to tax benefits from lower tax rates unrelated to the impact of the 2017 tax act , net favorable resolutions of various tax matters and net favorable adjustments from internal restructuring transactions .', 'the 2016 adjustment primarily related to a favorable adjustment to certain deferred tax liabilities recognized as part of acquisition-related accounting and favorable resolution of certain tax matters with taxing authorities offset by internal restructuring transactions that provide us access to offshore funds in a tax efficient manner .', '( 13 ) diluted share count used in adjusted diluted eps : year ended december 31 , 2018 .']
------
Table:
****************************************
| year endeddecember 31 2018
----------|----------
diluted shares | 203.5
dilutive shares assuming net earnings | 1.5
adjusted diluted shares | 205.0
****************************************
------
Additional Information: ['liquidity and capital resources cash flows provided by operating activities were $ 1747.4 million in 2018 compared to $ 1582.3 million and $ 1632.2 million in 2017 and 2016 , respectively .', 'the increase in operating cash flows in 2018 compared to 2017 was driven by additional cash flows from our sale of accounts receivable in certain countries , lower acquisition and integration expenses and lower quality remediation expenses , as well as certain significant payments made in the 2017 period .', 'in the 2017 period , we made payments related to the u.s .', 'durom cup settlement program , and we paid $ 30.5 million in settlement payments to resolve previously-disclosed fcpa matters involving biomet and certain of its subsidiaries as discussed in note 19 to our consolidated financial statements included in item 8 of this report .', 'the decline in operating cash flows in 2017 compared to 2016 was driven by additional investments in inventory , additional expenses for quality remediation and the significant payments made in the 2017 period as discussed in the previous sentence .', 'these unfavorable items were partially offset by $ 174.0 million of incremental cash flows in 2017 from our sale of accounts receivable in certain countries .', 'cash flows used in investing activities were $ 416.6 million in 2018 compared to $ 510.8 million and $ 1691.5 million in 2017 and 2016 , respectively .', 'instrument and property , plant and equipment additions reflected ongoing investments in our product portfolio and optimization of our manufacturing and logistics network .', 'in 2018 , we entered into receive-fixed-rate , pay-fixed-rate cross-currency interest rate swaps .', 'our investing cash flows reflect the net cash inflows from the fixed- rate interest rate receipts/payments , as well as the termination of certain of these swaps that were in a gain position in the year .', 'the 2016 period included cash outflows for the acquisition of ldr holding corporation ( 201cldr 201d ) and other business acquisitions .', 'additionally , the 2016 period reflects the maturity of available-for-sale debt securities .', 'as these investments matured , we used the cash to pay off debt and have not reinvested in any additional debt securities .', 'cash flows used in financing activities were $ 1302.2 million in 2018 .', 'our primary use of available cash in 2018 was for debt repayment .', 'we received net proceeds of $ 749.5 million from the issuance of additional senior notes and borrowed $ 400.0 million from our multicurrency revolving facility to repay $ 1150.0 million of senior notes that became due on april 2 , 2018 .', 'we subsequently repaid the $ 400.0 million of multicurrency revolving facility borrowings .', 'also in 2018 , we borrowed another $ 675.0 million under a new u.s .', 'term loan c and used the cash proceeds along with cash generated from operations throughout the year to repay an aggregate of $ 835.0 million on u.s .', 'term loan a , $ 450.0 million on u.s .', 'term loan b , and we subsequently repaid $ 140.0 million on u.s .', 'term loan c .', 'overall , we had approximately $ 1150 million of net principal repayments on our senior notes and term loans in 2018 .', 'in 2017 , our primary use of available cash was also for debt repayment compared to 2016 when we were not able to repay as much debt due to financing requirements to complete the ldr and other business acquisitions .', 'additionally in 2017 , we had net cash inflows of $ 103.5 million on factoring programs that had not been remitted to the third party .', 'in 2018 , we had net cash outflows related to these factoring programs as we remitted the $ 103.5 million and collected only $ 66.8 million which had not yet been remitted by the end of the year .', 'since our factoring programs started at the end of 2016 , we did not have similar cash flows in that year .', 'in january 2019 , we borrowed an additional $ 200.0 million under u.s .', 'term loan c and used those proceeds , along with cash on hand , to repay the remaining $ 225.0 million outstanding under u.s .', 'term loan b .', 'in february , may , august and december 2018 , our board of directors declared cash dividends of $ 0.24 per share .', 'we expect to continue paying cash dividends on a quarterly basis ; however , future dividends are subject to approval of the board of directors and may be adjusted as business needs or market conditions change .', 'as further discussed in note 11 to our consolidated financial statements , our debt facilities restrict the payment of dividends in certain circumstances. .'] | -0.10434 | ZBH/2018/page_34.pdf-1 | ['zimmer biomet holdings , inc .', '2018 form 10-k annual report ( 8 ) we have incurred other various expenses from specific events or projects that we consider highly variable or have a significant impact to our operating results that we have excluded from our non-gaap financial measures .', 'this includes legal entity and operational restructuring as well as our costs of complying with our dpa with the u.s .', 'government related to certain fcpa matters involving biomet and certain of its subsidiaries .', 'under the dpa , which has a three-year term , we are subject to oversight by an independent compliance monitor , which monitorship commenced in july 2017 .', 'the excluded costs include the fees paid to the independent compliance monitor and to external legal counsel assisting in the matter .', '( 9 ) represents the tax effects on the previously specified items .', 'the tax effect for the u.s .', 'jurisdiction is calculated based on an effective rate considering federal and state taxes , as well as permanent items .', 'for jurisdictions outside the u.s. , the tax effect is calculated based upon the statutory rates where the items were incurred .', '( 10 ) the 2016 period includes negative effects from finalizing the tax accounts for the biomet merger .', 'under the applicable u.s .', 'gaap rules , these measurement period adjustments are recognized on a prospective basis in the period of change .', '( 11 ) the 2017 tax act resulted in a net favorable provisional adjustment due to the reduction of deferred tax liabilities for unremitted earnings and revaluation of deferred tax liabilities to a 21 percent rate , which was partially offset by provisional tax charges related to the toll charge provision of the 2017 tax act .', 'in 2018 , we finalized our estimates of the effects of the 2017 tax act based upon final guidance issued by u.s .', 'tax authorities .', '( 12 ) other certain tax adjustments in 2018 primarily related to changes in tax rates on deferred tax liabilities recorded on intangible assets recognized in acquisition-related accounting and adjustments from internal restructuring transactions that provide us access to offshore funds in a tax efficient manner .', 'in 2017 , other certain tax adjustments relate to tax benefits from lower tax rates unrelated to the impact of the 2017 tax act , net favorable resolutions of various tax matters and net favorable adjustments from internal restructuring transactions .', 'the 2016 adjustment primarily related to a favorable adjustment to certain deferred tax liabilities recognized as part of acquisition-related accounting and favorable resolution of certain tax matters with taxing authorities offset by internal restructuring transactions that provide us access to offshore funds in a tax efficient manner .', '( 13 ) diluted share count used in adjusted diluted eps : year ended december 31 , 2018 .'] | ['liquidity and capital resources cash flows provided by operating activities were $ 1747.4 million in 2018 compared to $ 1582.3 million and $ 1632.2 million in 2017 and 2016 , respectively .', 'the increase in operating cash flows in 2018 compared to 2017 was driven by additional cash flows from our sale of accounts receivable in certain countries , lower acquisition and integration expenses and lower quality remediation expenses , as well as certain significant payments made in the 2017 period .', 'in the 2017 period , we made payments related to the u.s .', 'durom cup settlement program , and we paid $ 30.5 million in settlement payments to resolve previously-disclosed fcpa matters involving biomet and certain of its subsidiaries as discussed in note 19 to our consolidated financial statements included in item 8 of this report .', 'the decline in operating cash flows in 2017 compared to 2016 was driven by additional investments in inventory , additional expenses for quality remediation and the significant payments made in the 2017 period as discussed in the previous sentence .', 'these unfavorable items were partially offset by $ 174.0 million of incremental cash flows in 2017 from our sale of accounts receivable in certain countries .', 'cash flows used in investing activities were $ 416.6 million in 2018 compared to $ 510.8 million and $ 1691.5 million in 2017 and 2016 , respectively .', 'instrument and property , plant and equipment additions reflected ongoing investments in our product portfolio and optimization of our manufacturing and logistics network .', 'in 2018 , we entered into receive-fixed-rate , pay-fixed-rate cross-currency interest rate swaps .', 'our investing cash flows reflect the net cash inflows from the fixed- rate interest rate receipts/payments , as well as the termination of certain of these swaps that were in a gain position in the year .', 'the 2016 period included cash outflows for the acquisition of ldr holding corporation ( 201cldr 201d ) and other business acquisitions .', 'additionally , the 2016 period reflects the maturity of available-for-sale debt securities .', 'as these investments matured , we used the cash to pay off debt and have not reinvested in any additional debt securities .', 'cash flows used in financing activities were $ 1302.2 million in 2018 .', 'our primary use of available cash in 2018 was for debt repayment .', 'we received net proceeds of $ 749.5 million from the issuance of additional senior notes and borrowed $ 400.0 million from our multicurrency revolving facility to repay $ 1150.0 million of senior notes that became due on april 2 , 2018 .', 'we subsequently repaid the $ 400.0 million of multicurrency revolving facility borrowings .', 'also in 2018 , we borrowed another $ 675.0 million under a new u.s .', 'term loan c and used the cash proceeds along with cash generated from operations throughout the year to repay an aggregate of $ 835.0 million on u.s .', 'term loan a , $ 450.0 million on u.s .', 'term loan b , and we subsequently repaid $ 140.0 million on u.s .', 'term loan c .', 'overall , we had approximately $ 1150 million of net principal repayments on our senior notes and term loans in 2018 .', 'in 2017 , our primary use of available cash was also for debt repayment compared to 2016 when we were not able to repay as much debt due to financing requirements to complete the ldr and other business acquisitions .', 'additionally in 2017 , we had net cash inflows of $ 103.5 million on factoring programs that had not been remitted to the third party .', 'in 2018 , we had net cash outflows related to these factoring programs as we remitted the $ 103.5 million and collected only $ 66.8 million which had not yet been remitted by the end of the year .', 'since our factoring programs started at the end of 2016 , we did not have similar cash flows in that year .', 'in january 2019 , we borrowed an additional $ 200.0 million under u.s .', 'term loan c and used those proceeds , along with cash on hand , to repay the remaining $ 225.0 million outstanding under u.s .', 'term loan b .', 'in february , may , august and december 2018 , our board of directors declared cash dividends of $ 0.24 per share .', 'we expect to continue paying cash dividends on a quarterly basis ; however , future dividends are subject to approval of the board of directors and may be adjusted as business needs or market conditions change .', 'as further discussed in note 11 to our consolidated financial statements , our debt facilities restrict the payment of dividends in certain circumstances. .'] | ****************************************
| year endeddecember 31 2018
----------|----------
diluted shares | 203.5
dilutive shares assuming net earnings | 1.5
adjusted diluted shares | 205.0
**************************************** | subtract(1582.3, 1747.4), divide(#0, 1582.3) | -0.10434 |
what percentage of lease payments will be paid out in the first year? | Pre-text: ['future minimum lease payments for all non-cancelable operating leases at may 31 , 2013 were as follows : fiscal years ending may 31: .']
--
Table:
========================================
2014 | $ 11057
----------|----------
2015 | 8985
2016 | 7378
2017 | 6700
2018 | 6164
thereafter | 16812
total future minimum lease payments | $ 57096
========================================
--
Follow-up: ['we are party to a number of claims and lawsuits incidental to our business .', 'in our opinion , the liabilities , if any , which may ultimately result from the outcome of such matters , individually or in the aggregate , are not expected to have a material adverse impact on our financial position , liquidity or results of operations .', 'operating taxes we define operating taxes as taxes that are unrelated to income taxes , such as sales , property , value-add and other business taxes .', 'during the course of operations , we must interpret the meaning of various operating tax matters in the united states and in the foreign jurisdictions in which we do business .', 'taxing authorities in those various jurisdictions may arrive at different interpretations of applicable tax laws and regulations as they relate to such operating tax matters , which could result in the payment of additional taxes in those jurisdictions .', 'as of may 31 , 2013 and 2012 , we did not have liabilities for contingencies related to operating tax items based on management 2019s best estimate given our history with similar matters and interpretations of current laws and regulations .', 'bin/ica agreements we have entered into sponsorship or depository and processing agreements with certain banks .', 'these agreements allow us to use the banks 2019 identification numbers , referred to as bank identification number ( 201cbin 201d ) for visa transactions and interbank card association ( 201cica 201d ) number for mastercard transactions , to clear credit card transactions through visa and mastercard .', 'certain of such agreements contain financial covenants , and we were in compliance with all such covenants as of may 31 , 2013 .', 'our canadian visa sponsorship , which was originally obtained through a canadian financial institution , expired in march 2011 .', 'we have filed an application with the office of the superintendent of financial institutions canada ( 201cosfi 201d ) for the formation of a wholly owned loan company in canada which would serve as our financial institution sponsor .', 'on december 12 , 2012 , the loan company received a restricted order to commence and carry on business from osfi which will enable the loan company to become a direct visa member at such time that global payments concludes the appropriate bin transfer process with visa .', 'in march 2011 , we obtained temporary direct participation in the visa canada system , while the loan company application was pending .', 'we anticipate that the bin transfer process with visa will be completed by september 30 , 2013. .'] | 0.19366 | GPN/2013/page_92.pdf-1 | ['future minimum lease payments for all non-cancelable operating leases at may 31 , 2013 were as follows : fiscal years ending may 31: .'] | ['we are party to a number of claims and lawsuits incidental to our business .', 'in our opinion , the liabilities , if any , which may ultimately result from the outcome of such matters , individually or in the aggregate , are not expected to have a material adverse impact on our financial position , liquidity or results of operations .', 'operating taxes we define operating taxes as taxes that are unrelated to income taxes , such as sales , property , value-add and other business taxes .', 'during the course of operations , we must interpret the meaning of various operating tax matters in the united states and in the foreign jurisdictions in which we do business .', 'taxing authorities in those various jurisdictions may arrive at different interpretations of applicable tax laws and regulations as they relate to such operating tax matters , which could result in the payment of additional taxes in those jurisdictions .', 'as of may 31 , 2013 and 2012 , we did not have liabilities for contingencies related to operating tax items based on management 2019s best estimate given our history with similar matters and interpretations of current laws and regulations .', 'bin/ica agreements we have entered into sponsorship or depository and processing agreements with certain banks .', 'these agreements allow us to use the banks 2019 identification numbers , referred to as bank identification number ( 201cbin 201d ) for visa transactions and interbank card association ( 201cica 201d ) number for mastercard transactions , to clear credit card transactions through visa and mastercard .', 'certain of such agreements contain financial covenants , and we were in compliance with all such covenants as of may 31 , 2013 .', 'our canadian visa sponsorship , which was originally obtained through a canadian financial institution , expired in march 2011 .', 'we have filed an application with the office of the superintendent of financial institutions canada ( 201cosfi 201d ) for the formation of a wholly owned loan company in canada which would serve as our financial institution sponsor .', 'on december 12 , 2012 , the loan company received a restricted order to commence and carry on business from osfi which will enable the loan company to become a direct visa member at such time that global payments concludes the appropriate bin transfer process with visa .', 'in march 2011 , we obtained temporary direct participation in the visa canada system , while the loan company application was pending .', 'we anticipate that the bin transfer process with visa will be completed by september 30 , 2013. .'] | ========================================
2014 | $ 11057
----------|----------
2015 | 8985
2016 | 7378
2017 | 6700
2018 | 6164
thereafter | 16812
total future minimum lease payments | $ 57096
======================================== | divide(11057, 57096) | 0.19366 |
what is the total estimated amortization loss for 2016? | Pre-text: ['loss on the contract may be recorded , if necessary , and any remaining deferred implementation revenues would typically be recognized over the remaining service period through the termination date .', 'in connection with our long-term outsourcing service agreements , highly customized implementation efforts are often necessary to set up clients and their human resource or benefit programs on our systems and operating processes .', 'for outsourcing services sold separately or accounted for as a separate unit of accounting , specific , incremental and direct costs of implementation incurred prior to the services commencing are generally deferred and amortized over the period that the related ongoing services revenue is recognized .', 'deferred costs are assessed for recoverability on a periodic basis to the extent the deferred cost exceeds related deferred revenue .', 'pensions we sponsor defined benefit pension plans throughout the world .', 'our most significant plans are located in the u.s. , the u.k. , the netherlands and canada .', 'our significant u.s. , u.k. , netherlands and canadian pension plans are closed to new entrants .', 'we have ceased crediting future benefits relating to salary and service for our u.s. , u.k. , netherlands and canadian plans to the extent statutorily permitted .', 'in 2016 , we estimate pension and post-retirement net periodic benefit cost for major plans to increase by $ 15 million to a benefit of approximately $ 54 million .', 'the increase in the benefit is primarily due to a change in our approach to measuring service and interest cost .', 'effective december 31 , 2015 and for 2016 expense , we have elected to utilize a full yield curve approach in the estimation of the service and interest cost components of net periodic pension and post-retirement benefit cost for our major pension and other post-retirement benefit plans by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows .', 'in 2015 and prior years , we estimated these components of net periodic pension and post-retirement benefit cost by applying a single weighted-average discount rate , derived from the yield curve used to measure the benefit obligation at the beginning of the period .', 'we have made this change to improve the correlation between projected benefit cash flows and the corresponding yield curve spot rates and to provide a more precise measurement of service and interest costs .', 'this change does not affect the measurement of the projected benefit obligation as the change in the service cost and interest cost is completely offset in the actuarial ( gain ) loss recorded in other comprehensive income .', 'we accounted for this change as a change in estimate and , accordingly , will account for it prospectively .', 'recognition of gains and losses and prior service certain changes in the value of the obligation and in the value of plan assets , which may occur due to various factors such as changes in the discount rate and actuarial assumptions , actual demographic experience and/or plan asset performance are not immediately recognized in net income .', 'such changes are recognized in other comprehensive income and are amortized into net income as part of the net periodic benefit cost .', 'unrecognized gains and losses that have been deferred in other comprehensive income , as previously described , are amortized into compensation and benefits expense as a component of periodic pension expense based on the average life expectancy of the u.s. , the netherlands , canada , and u.k .', 'plan members .', 'we amortize any prior service expense or credits that arise as a result of plan changes over a period consistent with the amortization of gains and losses .', 'as of december 31 , 2015 , our pension plans have deferred losses that have not yet been recognized through income in the consolidated financial statements .', 'we amortize unrecognized actuarial losses outside of a corridor , which is defined as 10% ( 10 % ) of the greater of market-related value of plan assets or projected benefit obligation .', 'to the extent not offset by future gains , incremental amortization as calculated above will continue to affect future pension expense similarly until fully amortized .', 'the following table discloses our unrecognized actuarial gains and losses , the number of years over which we are amortizing the experience loss , and the estimated 2016 amortization of loss by country ( amounts in millions ) : .']
----
Tabular Data:
----------------------------------------
u.k . u.s . other
unrecognized actuarial gains and losses $ 1511 $ 1732 $ 382
amortization period ( in years ) 10 - 32 7 - 28 15 - 41
estimated 2016 amortization of loss $ 37 $ 52 $ 10
----------------------------------------
----
Post-table: ['the unrecognized prior service cost ( income ) at december 31 , 2015 was $ 9 million , $ 46 million , and $ ( 7 ) million in the u.s. , u.k .', 'and other plans , respectively .', 'for the u.s .', 'pension plans we use a market-related valuation of assets approach to determine the expected return on assets , which is a component of net periodic benefit cost recognized in the consolidated statements of income .', 'this approach .'] | 99.0 | AON/2015/page_50.pdf-1 | ['loss on the contract may be recorded , if necessary , and any remaining deferred implementation revenues would typically be recognized over the remaining service period through the termination date .', 'in connection with our long-term outsourcing service agreements , highly customized implementation efforts are often necessary to set up clients and their human resource or benefit programs on our systems and operating processes .', 'for outsourcing services sold separately or accounted for as a separate unit of accounting , specific , incremental and direct costs of implementation incurred prior to the services commencing are generally deferred and amortized over the period that the related ongoing services revenue is recognized .', 'deferred costs are assessed for recoverability on a periodic basis to the extent the deferred cost exceeds related deferred revenue .', 'pensions we sponsor defined benefit pension plans throughout the world .', 'our most significant plans are located in the u.s. , the u.k. , the netherlands and canada .', 'our significant u.s. , u.k. , netherlands and canadian pension plans are closed to new entrants .', 'we have ceased crediting future benefits relating to salary and service for our u.s. , u.k. , netherlands and canadian plans to the extent statutorily permitted .', 'in 2016 , we estimate pension and post-retirement net periodic benefit cost for major plans to increase by $ 15 million to a benefit of approximately $ 54 million .', 'the increase in the benefit is primarily due to a change in our approach to measuring service and interest cost .', 'effective december 31 , 2015 and for 2016 expense , we have elected to utilize a full yield curve approach in the estimation of the service and interest cost components of net periodic pension and post-retirement benefit cost for our major pension and other post-retirement benefit plans by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows .', 'in 2015 and prior years , we estimated these components of net periodic pension and post-retirement benefit cost by applying a single weighted-average discount rate , derived from the yield curve used to measure the benefit obligation at the beginning of the period .', 'we have made this change to improve the correlation between projected benefit cash flows and the corresponding yield curve spot rates and to provide a more precise measurement of service and interest costs .', 'this change does not affect the measurement of the projected benefit obligation as the change in the service cost and interest cost is completely offset in the actuarial ( gain ) loss recorded in other comprehensive income .', 'we accounted for this change as a change in estimate and , accordingly , will account for it prospectively .', 'recognition of gains and losses and prior service certain changes in the value of the obligation and in the value of plan assets , which may occur due to various factors such as changes in the discount rate and actuarial assumptions , actual demographic experience and/or plan asset performance are not immediately recognized in net income .', 'such changes are recognized in other comprehensive income and are amortized into net income as part of the net periodic benefit cost .', 'unrecognized gains and losses that have been deferred in other comprehensive income , as previously described , are amortized into compensation and benefits expense as a component of periodic pension expense based on the average life expectancy of the u.s. , the netherlands , canada , and u.k .', 'plan members .', 'we amortize any prior service expense or credits that arise as a result of plan changes over a period consistent with the amortization of gains and losses .', 'as of december 31 , 2015 , our pension plans have deferred losses that have not yet been recognized through income in the consolidated financial statements .', 'we amortize unrecognized actuarial losses outside of a corridor , which is defined as 10% ( 10 % ) of the greater of market-related value of plan assets or projected benefit obligation .', 'to the extent not offset by future gains , incremental amortization as calculated above will continue to affect future pension expense similarly until fully amortized .', 'the following table discloses our unrecognized actuarial gains and losses , the number of years over which we are amortizing the experience loss , and the estimated 2016 amortization of loss by country ( amounts in millions ) : .'] | ['the unrecognized prior service cost ( income ) at december 31 , 2015 was $ 9 million , $ 46 million , and $ ( 7 ) million in the u.s. , u.k .', 'and other plans , respectively .', 'for the u.s .', 'pension plans we use a market-related valuation of assets approach to determine the expected return on assets , which is a component of net periodic benefit cost recognized in the consolidated statements of income .', 'this approach .'] | ----------------------------------------
u.k . u.s . other
unrecognized actuarial gains and losses $ 1511 $ 1732 $ 382
amortization period ( in years ) 10 - 32 7 - 28 15 - 41
estimated 2016 amortization of loss $ 37 $ 52 $ 10
---------------------------------------- | add(37, 52), add(#0, 10) | 99.0 |
in 2016 what is the anticipated percentage increase in the aircraft fuel expense | Background: ['table of contents certain union-represented american mainline employees are covered by agreements that are not currently amendable .', 'until those agreements become amendable , negotiations for jcbas will be conducted outside the traditional rla bargaining process described above , and , in the meantime , no self-help will be permissible .', 'the piedmont mechanics and stock clerks and the psa dispatchers have agreements that are now amendable and are engaged in traditional rla negotiations .', 'none of the unions representing our employees presently may lawfully engage in concerted refusals to work , such as strikes , slow-downs , sick-outs or other similar activity , against us .', 'nonetheless , there is a risk that disgruntled employees , either with or without union involvement , could engage in one or more concerted refusals to work that could individually or collectively harm the operation of our airline and impair our financial performance .', 'for more discussion , see part i , item 1a .', 'risk factors 2013 201cunion disputes , employee strikes and other labor-related disruptions may adversely affect our operations . 201d aircraft fuel our operations and financial results are significantly affected by the availability and price of jet fuel .', 'based on our 2016 forecasted mainline and regional fuel consumption , we estimate that , as of december 31 , 2015 , a one cent per gallon increase in aviation fuel price would increase our 2016 annual fuel expense by $ 44 million .', 'the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline operations for 2015 and 2014 ( gallons and aircraft fuel expense in millions ) .', 'year gallons average price per gallon aircraft fuel expense percent of total mainline operating expenses .']
########
Table:
========================================
year, gallons, average price pergallon, aircraft fuel expense, percent of total mainline operating expenses
2015, 3611, $ 1.72, $ 6226, 21.6% ( 21.6 % )
2014, 3644, 2.91, 10592, 33.2% ( 33.2 % )
========================================
########
Additional Information: ['total fuel expenses for our wholly-owned and third-party regional carriers operating under capacity purchase agreements of american were $ 1.2 billion and $ 2.0 billion for the years ended december 31 , 2015 and 2014 , respectively .', 'as of december 31 , 2015 , we did not have any fuel hedging contracts outstanding to hedge our fuel consumption .', 'as such , and assuming we do not enter into any future transactions to hedge our fuel consumption , we will continue to be fully exposed to fluctuations in fuel prices .', 'our current policy is not to enter into transactions to hedge our fuel consumption , although we review that policy from time to time based on market conditions and other factors .', 'fuel prices have fluctuated substantially over the past several years .', 'we cannot predict the future availability , price volatility or cost of aircraft fuel .', 'natural disasters , political disruptions or wars involving oil-producing countries , changes in fuel-related governmental policy , the strength of the u.s .', 'dollar against foreign currencies , changes in access to petroleum product pipelines and terminals , speculation in the energy futures markets , changes in aircraft fuel production capacity , environmental concerns and other unpredictable events may result in fuel supply shortages , additional fuel price volatility and cost increases in the future .', 'see part i , item 1a .', 'risk factors 2013 201cour business is dependent on the price and availability of aircraft fuel .', 'continued periods of high volatility in fuel costs , increased fuel prices and significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d insurance we maintain insurance of the types that we believe are customary in the airline industry , including insurance for public liability , passenger liability , property damage , and all-risk coverage for damage to our aircraft .', 'principal coverage includes liability for injury to members of the public , including passengers , damage to .'] | 0.00707 | AAL/2015/page_18.pdf-3 | ['table of contents certain union-represented american mainline employees are covered by agreements that are not currently amendable .', 'until those agreements become amendable , negotiations for jcbas will be conducted outside the traditional rla bargaining process described above , and , in the meantime , no self-help will be permissible .', 'the piedmont mechanics and stock clerks and the psa dispatchers have agreements that are now amendable and are engaged in traditional rla negotiations .', 'none of the unions representing our employees presently may lawfully engage in concerted refusals to work , such as strikes , slow-downs , sick-outs or other similar activity , against us .', 'nonetheless , there is a risk that disgruntled employees , either with or without union involvement , could engage in one or more concerted refusals to work that could individually or collectively harm the operation of our airline and impair our financial performance .', 'for more discussion , see part i , item 1a .', 'risk factors 2013 201cunion disputes , employee strikes and other labor-related disruptions may adversely affect our operations . 201d aircraft fuel our operations and financial results are significantly affected by the availability and price of jet fuel .', 'based on our 2016 forecasted mainline and regional fuel consumption , we estimate that , as of december 31 , 2015 , a one cent per gallon increase in aviation fuel price would increase our 2016 annual fuel expense by $ 44 million .', 'the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline operations for 2015 and 2014 ( gallons and aircraft fuel expense in millions ) .', 'year gallons average price per gallon aircraft fuel expense percent of total mainline operating expenses .'] | ['total fuel expenses for our wholly-owned and third-party regional carriers operating under capacity purchase agreements of american were $ 1.2 billion and $ 2.0 billion for the years ended december 31 , 2015 and 2014 , respectively .', 'as of december 31 , 2015 , we did not have any fuel hedging contracts outstanding to hedge our fuel consumption .', 'as such , and assuming we do not enter into any future transactions to hedge our fuel consumption , we will continue to be fully exposed to fluctuations in fuel prices .', 'our current policy is not to enter into transactions to hedge our fuel consumption , although we review that policy from time to time based on market conditions and other factors .', 'fuel prices have fluctuated substantially over the past several years .', 'we cannot predict the future availability , price volatility or cost of aircraft fuel .', 'natural disasters , political disruptions or wars involving oil-producing countries , changes in fuel-related governmental policy , the strength of the u.s .', 'dollar against foreign currencies , changes in access to petroleum product pipelines and terminals , speculation in the energy futures markets , changes in aircraft fuel production capacity , environmental concerns and other unpredictable events may result in fuel supply shortages , additional fuel price volatility and cost increases in the future .', 'see part i , item 1a .', 'risk factors 2013 201cour business is dependent on the price and availability of aircraft fuel .', 'continued periods of high volatility in fuel costs , increased fuel prices and significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d insurance we maintain insurance of the types that we believe are customary in the airline industry , including insurance for public liability , passenger liability , property damage , and all-risk coverage for damage to our aircraft .', 'principal coverage includes liability for injury to members of the public , including passengers , damage to .'] | ========================================
year, gallons, average price pergallon, aircraft fuel expense, percent of total mainline operating expenses
2015, 3611, $ 1.72, $ 6226, 21.6% ( 21.6 % )
2014, 3644, 2.91, 10592, 33.2% ( 33.2 % )
======================================== | divide(44, 6226) | 0.00707 |
at december 31 , 2010 what was the percent of the shares remaining authorization to repurchase of the amount authorization by the board in 2007 | Background: ['m .', 'employee retirement plans 2013 ( continued ) of equities and fixed-income investments , and would be less liquid than financial instruments that trade on public markets .', 'potential events or circumstances that could have a negative effect on estimated fair value include the risks of inadequate diversification and other operating risks .', 'to mitigate these risks , investments are diversified across and within asset classes in support of investment objectives .', 'policies and practices to address operating risks include ongoing manager oversight , plan and asset class investment guidelines and instructions that are communicated to managers , and periodic compliance and audit reviews to ensure adherence to these policies .', 'in addition , the company periodically seeks the input of its independent advisor to ensure the investment policy is appropriate .', 'the company sponsors certain post-retirement benefit plans that provide medical , dental and life insurance coverage for eligible retirees and dependents in the united states based upon age and length of service .', 'the aggregate present value of the unfunded accumulated post-retirement benefit obligation was $ 13 million at both december 31 , 2010 and 2009 .', 'cash flows at december 31 , 2010 , the company expected to contribute approximately $ 30 million to $ 35 million to its qualified defined-benefit pension plans to meet erisa requirements in 2011 .', 'the company also expected to pay benefits of $ 3 million and $ 10 million to participants of its unfunded foreign and non-qualified ( domestic ) defined-benefit pension plans , respectively , in 2011 .', 'at december 31 , 2010 , the benefits expected to be paid in each of the next five years , and in aggregate for the five years thereafter , relating to the company 2019s defined-benefit pension plans , were as follows , in millions : qualified non-qualified .']
Data Table:
qualified plans non-qualified plans
2011 $ 38 $ 10
2012 $ 40 $ 11
2013 $ 41 $ 11
2014 $ 41 $ 12
2015 $ 43 $ 12
2016-2020 $ 235 $ 59
Additional Information: ['n .', 'shareholders 2019 equity in july 2007 , the company 2019s board of directors authorized the repurchase for retirement of up to 50 million shares of the company 2019s common stock in open-market transactions or otherwise .', 'at december 31 , 2010 , the company had remaining authorization to repurchase up to 27 million shares .', 'during 2010 , the company repurchased and retired three million shares of company common stock , for cash aggregating $ 45 million to offset the dilutive impact of the 2010 grant of three million shares of long-term stock awards .', 'the company repurchased and retired two million common shares in 2009 and nine million common shares in 2008 for cash aggregating $ 11 million and $ 160 million in 2009 and 2008 , respectively .', 'on the basis of amounts paid ( declared ) , cash dividends per common share were $ .30 ( $ .30 ) in 2010 , $ .46 ( $ .30 ) in 2009 and $ .925 ( $ .93 ) in 2008 , respectively .', 'in 2009 , the company decreased its quarterly cash dividend to $ .075 per common share from $ .235 per common share .', 'masco corporation notes to consolidated financial statements 2014 ( continued ) .'] | 0.54 | MAS/2010/page_86.pdf-1 | ['m .', 'employee retirement plans 2013 ( continued ) of equities and fixed-income investments , and would be less liquid than financial instruments that trade on public markets .', 'potential events or circumstances that could have a negative effect on estimated fair value include the risks of inadequate diversification and other operating risks .', 'to mitigate these risks , investments are diversified across and within asset classes in support of investment objectives .', 'policies and practices to address operating risks include ongoing manager oversight , plan and asset class investment guidelines and instructions that are communicated to managers , and periodic compliance and audit reviews to ensure adherence to these policies .', 'in addition , the company periodically seeks the input of its independent advisor to ensure the investment policy is appropriate .', 'the company sponsors certain post-retirement benefit plans that provide medical , dental and life insurance coverage for eligible retirees and dependents in the united states based upon age and length of service .', 'the aggregate present value of the unfunded accumulated post-retirement benefit obligation was $ 13 million at both december 31 , 2010 and 2009 .', 'cash flows at december 31 , 2010 , the company expected to contribute approximately $ 30 million to $ 35 million to its qualified defined-benefit pension plans to meet erisa requirements in 2011 .', 'the company also expected to pay benefits of $ 3 million and $ 10 million to participants of its unfunded foreign and non-qualified ( domestic ) defined-benefit pension plans , respectively , in 2011 .', 'at december 31 , 2010 , the benefits expected to be paid in each of the next five years , and in aggregate for the five years thereafter , relating to the company 2019s defined-benefit pension plans , were as follows , in millions : qualified non-qualified .'] | ['n .', 'shareholders 2019 equity in july 2007 , the company 2019s board of directors authorized the repurchase for retirement of up to 50 million shares of the company 2019s common stock in open-market transactions or otherwise .', 'at december 31 , 2010 , the company had remaining authorization to repurchase up to 27 million shares .', 'during 2010 , the company repurchased and retired three million shares of company common stock , for cash aggregating $ 45 million to offset the dilutive impact of the 2010 grant of three million shares of long-term stock awards .', 'the company repurchased and retired two million common shares in 2009 and nine million common shares in 2008 for cash aggregating $ 11 million and $ 160 million in 2009 and 2008 , respectively .', 'on the basis of amounts paid ( declared ) , cash dividends per common share were $ .30 ( $ .30 ) in 2010 , $ .46 ( $ .30 ) in 2009 and $ .925 ( $ .93 ) in 2008 , respectively .', 'in 2009 , the company decreased its quarterly cash dividend to $ .075 per common share from $ .235 per common share .', 'masco corporation notes to consolidated financial statements 2014 ( continued ) .'] | qualified plans non-qualified plans
2011 $ 38 $ 10
2012 $ 40 $ 11
2013 $ 41 $ 11
2014 $ 41 $ 12
2015 $ 43 $ 12
2016-2020 $ 235 $ 59 | divide(27, 50) | 0.54 |
what is the debt-to-equity ratio in 2017? | Context: ['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis during periods in which we have significantly more positive net revenue days than net revenue loss days , we expect to have fewer var exceptions because , under normal conditions , our business model generally produces positive net revenues .', 'in periods in which our franchise revenues are adversely affected , we generally have more loss days , resulting in more var exceptions .', 'the daily net revenues for positions included in var used to determine var exceptions reflect the impact of any intraday activity , including bid/offer net revenues , which are more likely than not to be positive by their nature .', 'sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .', 'other sensitivity measures we use to analyze market risk are described below .', '10% ( 10 % ) sensitivity measures .', 'the table below presents market risk by asset category for positions accounted for at fair value , that are not included in var. .']
Table:
========================================
$ in millions | as of december 2018 | as of december 2017
----------|----------|----------
equity | $ 1923 | $ 2096
debt | 1890 | 1606
total | $ 3813 | $ 3702
========================================
Follow-up: ['in the table above : 2030 the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the value of these positions .', '2030 equity positions relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds .', '2030 debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .', '2030 funded equity and debt positions are included in our consolidated statements of financial condition in financial instruments owned .', 'see note 6 to the consolidated financial statements for further information about cash instruments .', '2030 these measures do not reflect the diversification effect across asset categories or across other market risk measures .', 'credit spread sensitivity on derivatives and financial liabilities .', 'var excludes the impact of changes in counterparty and our own credit spreads on derivatives , as well as changes in our own credit spreads ( debt valuation adjustment ) on financial liabilities for which the fair value option was elected .', 'the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a gain of $ 3 million ( including hedges ) as of both december 2018 and december 2017 .', 'in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on financial liabilities for which the fair value option was elected was a gain of $ 41 million as of december 2018 and $ 35 million as of december 2017 .', 'however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those financial liabilities for which the fair value option was elected , as well as the relative performance of any hedges undertaken .', 'interest rate sensitivity .', 'loans receivable were $ 80.59 billion as of december 2018 and $ 65.93 billion as of december 2017 , substantially all of which had floating interest rates .', 'the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 607 million as of december 2018 and $ 527 million as of december 2017 , of additional interest income over a twelve-month period , which does not take into account the potential impact of an increase in costs to fund such loans .', 'see note 9 to the consolidated financial statements for further information about loans receivable .', 'other market risk considerations as of both december 2018 and december 2017 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc .', 'see note 18 to the consolidated financial statements for further information about such lending commitments .', 'in addition , we make investments in securities that are accounted for as available-for-sale and included in financial instruments owned in the consolidated statements of financial condition .', 'see note 6 to the consolidated financial statements for further information .', 'we also make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in other assets .', 'direct investments in real estate are accounted for at cost less accumulated depreciation .', 'see note 13 to the consolidated financial statements for further information about other assets .', '92 goldman sachs 2018 form 10-k .'] | 0.76622 | GS/2018/page_108.pdf-3 | ['the goldman sachs group , inc .', 'and subsidiaries management 2019s discussion and analysis during periods in which we have significantly more positive net revenue days than net revenue loss days , we expect to have fewer var exceptions because , under normal conditions , our business model generally produces positive net revenues .', 'in periods in which our franchise revenues are adversely affected , we generally have more loss days , resulting in more var exceptions .', 'the daily net revenues for positions included in var used to determine var exceptions reflect the impact of any intraday activity , including bid/offer net revenues , which are more likely than not to be positive by their nature .', 'sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .', 'other sensitivity measures we use to analyze market risk are described below .', '10% ( 10 % ) sensitivity measures .', 'the table below presents market risk by asset category for positions accounted for at fair value , that are not included in var. .'] | ['in the table above : 2030 the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the value of these positions .', '2030 equity positions relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds .', '2030 debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .', '2030 funded equity and debt positions are included in our consolidated statements of financial condition in financial instruments owned .', 'see note 6 to the consolidated financial statements for further information about cash instruments .', '2030 these measures do not reflect the diversification effect across asset categories or across other market risk measures .', 'credit spread sensitivity on derivatives and financial liabilities .', 'var excludes the impact of changes in counterparty and our own credit spreads on derivatives , as well as changes in our own credit spreads ( debt valuation adjustment ) on financial liabilities for which the fair value option was elected .', 'the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a gain of $ 3 million ( including hedges ) as of both december 2018 and december 2017 .', 'in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on financial liabilities for which the fair value option was elected was a gain of $ 41 million as of december 2018 and $ 35 million as of december 2017 .', 'however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those financial liabilities for which the fair value option was elected , as well as the relative performance of any hedges undertaken .', 'interest rate sensitivity .', 'loans receivable were $ 80.59 billion as of december 2018 and $ 65.93 billion as of december 2017 , substantially all of which had floating interest rates .', 'the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 607 million as of december 2018 and $ 527 million as of december 2017 , of additional interest income over a twelve-month period , which does not take into account the potential impact of an increase in costs to fund such loans .', 'see note 9 to the consolidated financial statements for further information about loans receivable .', 'other market risk considerations as of both december 2018 and december 2017 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc .', 'see note 18 to the consolidated financial statements for further information about such lending commitments .', 'in addition , we make investments in securities that are accounted for as available-for-sale and included in financial instruments owned in the consolidated statements of financial condition .', 'see note 6 to the consolidated financial statements for further information .', 'we also make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in other assets .', 'direct investments in real estate are accounted for at cost less accumulated depreciation .', 'see note 13 to the consolidated financial statements for further information about other assets .', '92 goldman sachs 2018 form 10-k .'] | ========================================
$ in millions | as of december 2018 | as of december 2017
----------|----------|----------
equity | $ 1923 | $ 2096
debt | 1890 | 1606
total | $ 3813 | $ 3702
======================================== | divide(1606, 2096) | 0.76622 |
as of december 31 , 2015 what was the percent of the total minimum lease payments that was due in 2016 | Pre-text: ['we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry .', 'as such , we have no control over activities that could materially impact the fair value of the leased assets .', 'we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies .', 'additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase options are not considered to be potentially significant to the vies .', 'the future minimum lease payments associated with the vie leases totaled $ 2.6 billion as of december 31 , 2015 .', '17 .', 'leases we lease certain locomotives , freight cars , and other property .', 'the consolidated statements of financial position as of december 31 , 2015 and 2014 included $ 2273 million , net of $ 1189 million of accumulated depreciation , and $ 2454 million , net of $ 1210 million of accumulated depreciation , respectively , for properties held under capital leases .', 'a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income .', 'future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2015 , were as follows : millions operating leases capital leases .']
######
Tabular Data:
----------------------------------------
millions | operatingleases | capitalleases
----------|----------|----------
2016 | $ 491 | $ 217
2017 | 446 | 220
2018 | 371 | 198
2019 | 339 | 184
2020 | 282 | 193
later years | 1501 | 575
total minimum lease payments | $ 3430 | $ 1587
amount representing interest | n/a | -319 ( 319 )
present value of minimum lease payments | n/a | $ 1268
----------------------------------------
######
Follow-up: ['approximately 95% ( 95 % ) of capital lease payments relate to locomotives .', 'rent expense for operating leases with terms exceeding one month was $ 590 million in 2015 , $ 593 million in 2014 , and $ 618 million in 2013 .', 'when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term .', 'contingent rentals and sub-rentals are not significant .', '18 .', 'commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries .', 'we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity .', 'to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated .', 'we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters .', 'personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year .', 'we use an actuarial analysis to measure the expense and liability , including unasserted claims .', 'the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents .', 'under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements .', 'we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work .', 'our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments .', 'approximately 94% ( 94 % ) of the recorded liability is related to asserted claims and .'] | 0.14112 | UNP/2015/page_80.pdf-1 | ['we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry .', 'as such , we have no control over activities that could materially impact the fair value of the leased assets .', 'we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies .', 'additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase options are not considered to be potentially significant to the vies .', 'the future minimum lease payments associated with the vie leases totaled $ 2.6 billion as of december 31 , 2015 .', '17 .', 'leases we lease certain locomotives , freight cars , and other property .', 'the consolidated statements of financial position as of december 31 , 2015 and 2014 included $ 2273 million , net of $ 1189 million of accumulated depreciation , and $ 2454 million , net of $ 1210 million of accumulated depreciation , respectively , for properties held under capital leases .', 'a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income .', 'future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2015 , were as follows : millions operating leases capital leases .'] | ['approximately 95% ( 95 % ) of capital lease payments relate to locomotives .', 'rent expense for operating leases with terms exceeding one month was $ 590 million in 2015 , $ 593 million in 2014 , and $ 618 million in 2013 .', 'when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term .', 'contingent rentals and sub-rentals are not significant .', '18 .', 'commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries .', 'we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity .', 'to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated .', 'we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters .', 'personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year .', 'we use an actuarial analysis to measure the expense and liability , including unasserted claims .', 'the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents .', 'under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements .', 'we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work .', 'our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments .', 'approximately 94% ( 94 % ) of the recorded liability is related to asserted claims and .'] | ----------------------------------------
millions | operatingleases | capitalleases
----------|----------|----------
2016 | $ 491 | $ 217
2017 | 446 | 220
2018 | 371 | 198
2019 | 339 | 184
2020 | 282 | 193
later years | 1501 | 575
total minimum lease payments | $ 3430 | $ 1587
amount representing interest | n/a | -319 ( 319 )
present value of minimum lease payments | n/a | $ 1268
---------------------------------------- | add(491, 217), add(3430, 1587), divide(#0, #1) | 0.14112 |
what was the average size of the 61 switching centers in square feet | Background: ['in particular , we have received commitments for $ 30.0 billion in debt financing to fund the transactions which is comprised of ( i ) a $ 4.0 billion secured revolving credit facility , ( ii ) a $ 7.0 billion term loan credit facility and ( iii ) a $ 19.0 billion secured bridge loan facility .', 'our reliance on the financing from the $ 19.0 billion secured bridge loan facility commitment is intended to be reduced through one or more secured note offerings or other long-term financings prior to the merger closing .', 'however , there can be no assurance that we will be able to issue any such secured notes or other long-term financings on terms we find acceptable or at all , especially in light of the recent debt market volatility , in which case we may have to exercise some or all of the commitments under the secured bridge facility to fund the transactions .', 'accordingly , the costs of financing for the transactions may be higher than expected .', 'credit rating downgrades could adversely affect the businesses , cash flows , financial condition and operating results of t-mobile and , following the transactions , the combined company .', 'credit ratings impact the cost and availability of future borrowings , and , as a result , cost of capital .', 'our current ratings reflect each rating agency 2019s opinion of our financial strength , operating performance and ability to meet our debt obligations or , following the completion of the transactions , obligations to the combined company 2019s obligors .', 'each rating agency reviews these ratings periodically and there can be no assurance that such ratings will be maintained in the future .', 'a downgrade in the rating of us and/or sprint could adversely affect the businesses , cash flows , financial condition and operating results of t- mobile and , following the transactions , the combined company .', 'we have incurred , and will incur , direct and indirect costs as a result of the transactions .', 'we have incurred , and will incur , substantial expenses in connection with and as a result of completing the transactions , and over a period of time following the completion of the transactions , the combined company also expects to incur substantial expenses in connection with integrating and coordinating our and sprint 2019s businesses , operations , policies and procedures .', 'a portion of the transaction costs related to the transactions will be incurred regardless of whether the transactions are completed .', 'while we have assumed that a certain level of transaction expenses will be incurred , factors beyond our control could affect the total amount or the timing of these expenses .', 'many of the expenses that will be incurred , by their nature , are difficult to estimate accurately .', 'these expenses will exceed the costs historically borne by us .', 'these costs could adversely affect our financial condition and results of operations prior to the transactions and the financial condition and results of operations of the combined company following the transactions .', 'item 1b .', 'unresolved staff comments item 2 .', 'properties as of december 31 , 2018 , our significant properties that we primarily lease and use in connection with switching centers , data centers , call centers and warehouses were as follows: .']
########
Data Table:
========================================
Row 1: , approximate number, approximate size in square feet
Row 2: switching centers, 61, 1300000
Row 3: data centers, 6, 500000
Row 4: call center, 17, 1300000
Row 5: warehouses, 21, 500000
========================================
########
Post-table: ['as of december 31 , 2018 , we primarily leased : 2022 approximately 64000 macro towers and 21000 distributed antenna system and small cell sites .', '2022 approximately 2200 t-mobile and metro by t-mobile retail locations , including stores and kiosks ranging in size from approximately 100 square feet to 17000 square feet .', '2022 office space totaling approximately 1000000 square feet for our corporate headquarters in bellevue , washington .', 'in january 2019 , we executed leases totaling approximately 170000 additional square feet for our corporate headquarters .', 'we use these offices for engineering and administrative purposes .', '2022 office space throughout the u.s. , totaling approximately 1700000 square feet , for use by our regional offices primarily for administrative , engineering and sales purposes. .'] | 21311.47541 | TMUS/2018/page_35.pdf-2 | ['in particular , we have received commitments for $ 30.0 billion in debt financing to fund the transactions which is comprised of ( i ) a $ 4.0 billion secured revolving credit facility , ( ii ) a $ 7.0 billion term loan credit facility and ( iii ) a $ 19.0 billion secured bridge loan facility .', 'our reliance on the financing from the $ 19.0 billion secured bridge loan facility commitment is intended to be reduced through one or more secured note offerings or other long-term financings prior to the merger closing .', 'however , there can be no assurance that we will be able to issue any such secured notes or other long-term financings on terms we find acceptable or at all , especially in light of the recent debt market volatility , in which case we may have to exercise some or all of the commitments under the secured bridge facility to fund the transactions .', 'accordingly , the costs of financing for the transactions may be higher than expected .', 'credit rating downgrades could adversely affect the businesses , cash flows , financial condition and operating results of t-mobile and , following the transactions , the combined company .', 'credit ratings impact the cost and availability of future borrowings , and , as a result , cost of capital .', 'our current ratings reflect each rating agency 2019s opinion of our financial strength , operating performance and ability to meet our debt obligations or , following the completion of the transactions , obligations to the combined company 2019s obligors .', 'each rating agency reviews these ratings periodically and there can be no assurance that such ratings will be maintained in the future .', 'a downgrade in the rating of us and/or sprint could adversely affect the businesses , cash flows , financial condition and operating results of t- mobile and , following the transactions , the combined company .', 'we have incurred , and will incur , direct and indirect costs as a result of the transactions .', 'we have incurred , and will incur , substantial expenses in connection with and as a result of completing the transactions , and over a period of time following the completion of the transactions , the combined company also expects to incur substantial expenses in connection with integrating and coordinating our and sprint 2019s businesses , operations , policies and procedures .', 'a portion of the transaction costs related to the transactions will be incurred regardless of whether the transactions are completed .', 'while we have assumed that a certain level of transaction expenses will be incurred , factors beyond our control could affect the total amount or the timing of these expenses .', 'many of the expenses that will be incurred , by their nature , are difficult to estimate accurately .', 'these expenses will exceed the costs historically borne by us .', 'these costs could adversely affect our financial condition and results of operations prior to the transactions and the financial condition and results of operations of the combined company following the transactions .', 'item 1b .', 'unresolved staff comments item 2 .', 'properties as of december 31 , 2018 , our significant properties that we primarily lease and use in connection with switching centers , data centers , call centers and warehouses were as follows: .'] | ['as of december 31 , 2018 , we primarily leased : 2022 approximately 64000 macro towers and 21000 distributed antenna system and small cell sites .', '2022 approximately 2200 t-mobile and metro by t-mobile retail locations , including stores and kiosks ranging in size from approximately 100 square feet to 17000 square feet .', '2022 office space totaling approximately 1000000 square feet for our corporate headquarters in bellevue , washington .', 'in january 2019 , we executed leases totaling approximately 170000 additional square feet for our corporate headquarters .', 'we use these offices for engineering and administrative purposes .', '2022 office space throughout the u.s. , totaling approximately 1700000 square feet , for use by our regional offices primarily for administrative , engineering and sales purposes. .'] | ========================================
Row 1: , approximate number, approximate size in square feet
Row 2: switching centers, 61, 1300000
Row 3: data centers, 6, 500000
Row 4: call center, 17, 1300000
Row 5: warehouses, 21, 500000
======================================== | divide(1300000, 61) | 21311.47541 |
how is the cashflow from operations affected by the change in inventories at lifo net? | Pre-text: ['advance auto parts , inc .', 'and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income .', 'the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows .', 'in january 2010 , the fasb issued asu no .', '2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy .', 'the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value .', 'the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 .', 'the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .', '3 .', 'inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 2011 .', 'under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2011 and prior years .', 'as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 due to an increase in supply chain costs and inflationary pressures affecting certain product categories .', 'the company recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively .', 'prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .', 'product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method .', "product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor .", "because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .", 'inventory overhead costs purchasing and warehousing costs included in inventory , at fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively .', 'inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .']
----
Tabular Data:
----------------------------------------
| december 312011 | january 12011
----------|----------|----------
inventories at fifo net | $ 1941055 | $ 1737059
adjustments to state inventories at lifo | 102103 | 126811
inventories at lifo net | $ 2043158 | $ 1863870
----------------------------------------
----
Additional Information: ['advance auto parts , inc .', 'and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income .', 'the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows .', 'in january 2010 , the fasb issued asu no .', '2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy .', 'the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value .', 'the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 .', 'the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .', '3 .', 'inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 2011 .', 'under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2011 and prior years .', 'as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 due to an increase in supply chain costs and inflationary pressures affecting certain product categories .', 'the company recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively .', 'prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .', 'product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method .', "product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor .", "because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .", 'inventory overhead costs purchasing and warehousing costs included in inventory , at fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively .', 'inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .'] | -179288.0 | AAP/2011/page_63.pdf-2 | ['advance auto parts , inc .', 'and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income .', 'the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows .', 'in january 2010 , the fasb issued asu no .', '2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy .', 'the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value .', 'the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 .', 'the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .', '3 .', 'inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 2011 .', 'under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2011 and prior years .', 'as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 due to an increase in supply chain costs and inflationary pressures affecting certain product categories .', 'the company recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively .', 'prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .', 'product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method .', "product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor .", "because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .", 'inventory overhead costs purchasing and warehousing costs included in inventory , at fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively .', 'inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .'] | ['advance auto parts , inc .', 'and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income .', 'the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows .', 'in january 2010 , the fasb issued asu no .', '2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy .', 'the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value .', 'the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 .', 'the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .', '3 .', 'inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 2011 .', 'under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2011 and prior years .', 'as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 due to an increase in supply chain costs and inflationary pressures affecting certain product categories .', 'the company recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively .', 'prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .', 'product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method .', "product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor .", "because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .", 'inventory overhead costs purchasing and warehousing costs included in inventory , at fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively .', 'inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .'] | ----------------------------------------
| december 312011 | january 12011
----------|----------|----------
inventories at fifo net | $ 1941055 | $ 1737059
adjustments to state inventories at lifo | 102103 | 126811
inventories at lifo net | $ 2043158 | $ 1863870
---------------------------------------- | subtract(1863870, 2043158) | -179288.0 |
in december 2015 what was the ratio of the restricted cash and marketable securities to the allowance for doubtful accounts | Pre-text: ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .', 'concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .', 'we provide services to small-container commercial , large-container industrial , municipal and residential customers in the united states and puerto rico .', 'we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables .', 'we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .', 'accounts receivable , net accounts receivable represent receivables from customers for collection , transfer , recycling , disposal , energy services and other services .', 'our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .', 'the carrying value of our receivables , net of the allowance for doubtful accounts and customer credits , represents their estimated net realizable value .', 'provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .', 'we also review outstanding balances on an account-specific basis .', 'in general , reserves are provided for accounts receivable in excess of 90 days outstanding .', 'past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due .', 'the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31: .']
Data Table:
----------------------------------------
• , 2015, 2014, 2013
• balance at beginning of year, $ 38.9, $ 38.3, $ 45.3
• additions charged to expense, 22.7, 22.6, 16.1
• accounts written-off, -14.9 ( 14.9 ), -22.0 ( 22.0 ), -23.1 ( 23.1 )
• balance at end of year, $ 46.7, $ 38.9, $ 38.3
----------------------------------------
Follow-up: ['restricted cash and marketable securities as of december 31 , 2015 , we had $ 100.3 million of restricted cash and marketable securities .', 'we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers .', 'the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance .', 'as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets .', 'in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance .', 'at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts .', 'property and equipment we record property and equipment at cost .', 'expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred .', 'when property is retired or otherwise disposed , the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of income. .'] | 2.14775 | RSG/2015/page_98.pdf-2 | ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .', 'concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .', 'we provide services to small-container commercial , large-container industrial , municipal and residential customers in the united states and puerto rico .', 'we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables .', 'we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .', 'accounts receivable , net accounts receivable represent receivables from customers for collection , transfer , recycling , disposal , energy services and other services .', 'our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .', 'the carrying value of our receivables , net of the allowance for doubtful accounts and customer credits , represents their estimated net realizable value .', 'provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .', 'we also review outstanding balances on an account-specific basis .', 'in general , reserves are provided for accounts receivable in excess of 90 days outstanding .', 'past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due .', 'the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31: .'] | ['restricted cash and marketable securities as of december 31 , 2015 , we had $ 100.3 million of restricted cash and marketable securities .', 'we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers .', 'the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance .', 'as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets .', 'in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance .', 'at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts .', 'property and equipment we record property and equipment at cost .', 'expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred .', 'when property is retired or otherwise disposed , the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of income. .'] | ----------------------------------------
• , 2015, 2014, 2013
• balance at beginning of year, $ 38.9, $ 38.3, $ 45.3
• additions charged to expense, 22.7, 22.6, 16.1
• accounts written-off, -14.9 ( 14.9 ), -22.0 ( 22.0 ), -23.1 ( 23.1 )
• balance at end of year, $ 46.7, $ 38.9, $ 38.3
---------------------------------------- | divide(100.3, 46.7) | 2.14775 |
in 2014 , how many of the new sites were forweign? | Pre-text: ['rental and management operations new site revenue growth .', 'during the year ended december 31 , 2014 , we grew our portfolio of communications real estate through the acquisition and construction of approximately 8450 sites .', 'in a majority of our international markets , the acquisition or construction of new sites results in increased pass-through revenues ( such as ground rent or power and fuel costs ) and expenses .', 'we continue to evaluate opportunities to acquire communications real estate portfolios , both domestically and internationally , to determine whether they meet our risk-adjusted hurdle rates and whether we believe we can effectively integrate them into our existing portfolio. .']
##
Table:
----------------------------------------
Row 1: new sites ( acquired or constructed ), 2014, 2013, 2012
Row 2: domestic, 900, 5260, 960
Row 3: international ( 1 ), 7550, 7810, 7850
----------------------------------------
##
Follow-up: ['( 1 ) the majority of sites acquired or constructed in 2014 were in brazil , india and mexico ; in 2013 were in brazil , colombia , costa rica , india , mexico and south africa ; and in 2012 were in brazil , germany , india and uganda .', 'rental and management operations expenses .', 'direct operating expenses incurred by our domestic and international rental and management segments include direct site level expenses and consist primarily of ground rent and power and fuel costs , some of which may be passed through to our tenants , as well as property taxes , repairs and maintenance .', 'these segment direct operating expenses exclude all segment and corporate selling , general , administrative and development expenses , which are aggregated into one line item entitled selling , general , administrative and development expense in our consolidated statements of operations .', 'in general , our domestic and international rental and management segments 2019 selling , general , administrative and development expenses do not significantly increase as a result of adding incremental tenants to our legacy sites and typically increase only modestly year-over-year .', 'as a result , leasing additional space to new tenants on our legacy sites provides significant incremental cash flow .', 'we may , however , incur additional segment selling , general , administrative and development expenses as we increase our presence in geographic areas where we have recently launched operations or are focused on expanding our portfolio .', 'our profit margin growth is therefore positively impacted by the addition of new tenants to our legacy sites and can be temporarily diluted by our development activities .', 'network development services segment revenue growth .', 'as we continue to focus on growing our rental and management operations , we anticipate that our network development services revenue will continue to represent a small percentage of our total revenues .', 'non-gaap financial measures included in our analysis of our results of operations are discussions regarding earnings before interest , taxes , depreciation , amortization and accretion , as adjusted ( 201cadjusted ebitda 201d ) , funds from operations , as defined by the national association of real estate investment trusts ( 201cnareit ffo 201d ) and adjusted funds from operations ( 201caffo 201d ) .', 'we define adjusted ebitda as net income before income ( loss ) on discontinued operations , net ; income ( loss ) on equity method investments ; income tax benefit ( provision ) ; other income ( expense ) ; gain ( loss ) on retirement of long-term obligations ; interest expense ; interest income ; other operating income ( expense ) ; depreciation , amortization and accretion ; and stock-based compensation expense .', 'nareit ffo is defined as net income before gains or losses from the sale or disposal of real estate , real estate related impairment charges , real estate related depreciation , amortization and accretion and dividends declared on preferred stock , and including adjustments for ( i ) unconsolidated affiliates and ( ii ) noncontrolling interest. .'] | 0.89349 | AMT/2014/page_64.pdf-1 | ['rental and management operations new site revenue growth .', 'during the year ended december 31 , 2014 , we grew our portfolio of communications real estate through the acquisition and construction of approximately 8450 sites .', 'in a majority of our international markets , the acquisition or construction of new sites results in increased pass-through revenues ( such as ground rent or power and fuel costs ) and expenses .', 'we continue to evaluate opportunities to acquire communications real estate portfolios , both domestically and internationally , to determine whether they meet our risk-adjusted hurdle rates and whether we believe we can effectively integrate them into our existing portfolio. .'] | ['( 1 ) the majority of sites acquired or constructed in 2014 were in brazil , india and mexico ; in 2013 were in brazil , colombia , costa rica , india , mexico and south africa ; and in 2012 were in brazil , germany , india and uganda .', 'rental and management operations expenses .', 'direct operating expenses incurred by our domestic and international rental and management segments include direct site level expenses and consist primarily of ground rent and power and fuel costs , some of which may be passed through to our tenants , as well as property taxes , repairs and maintenance .', 'these segment direct operating expenses exclude all segment and corporate selling , general , administrative and development expenses , which are aggregated into one line item entitled selling , general , administrative and development expense in our consolidated statements of operations .', 'in general , our domestic and international rental and management segments 2019 selling , general , administrative and development expenses do not significantly increase as a result of adding incremental tenants to our legacy sites and typically increase only modestly year-over-year .', 'as a result , leasing additional space to new tenants on our legacy sites provides significant incremental cash flow .', 'we may , however , incur additional segment selling , general , administrative and development expenses as we increase our presence in geographic areas where we have recently launched operations or are focused on expanding our portfolio .', 'our profit margin growth is therefore positively impacted by the addition of new tenants to our legacy sites and can be temporarily diluted by our development activities .', 'network development services segment revenue growth .', 'as we continue to focus on growing our rental and management operations , we anticipate that our network development services revenue will continue to represent a small percentage of our total revenues .', 'non-gaap financial measures included in our analysis of our results of operations are discussions regarding earnings before interest , taxes , depreciation , amortization and accretion , as adjusted ( 201cadjusted ebitda 201d ) , funds from operations , as defined by the national association of real estate investment trusts ( 201cnareit ffo 201d ) and adjusted funds from operations ( 201caffo 201d ) .', 'we define adjusted ebitda as net income before income ( loss ) on discontinued operations , net ; income ( loss ) on equity method investments ; income tax benefit ( provision ) ; other income ( expense ) ; gain ( loss ) on retirement of long-term obligations ; interest expense ; interest income ; other operating income ( expense ) ; depreciation , amortization and accretion ; and stock-based compensation expense .', 'nareit ffo is defined as net income before gains or losses from the sale or disposal of real estate , real estate related impairment charges , real estate related depreciation , amortization and accretion and dividends declared on preferred stock , and including adjustments for ( i ) unconsolidated affiliates and ( ii ) noncontrolling interest. .'] | ----------------------------------------
Row 1: new sites ( acquired or constructed ), 2014, 2013, 2012
Row 2: domestic, 900, 5260, 960
Row 3: international ( 1 ), 7550, 7810, 7850
---------------------------------------- | add(900, 7550), divide(7550, #0) | 0.89349 |
as part of the total decrease of aeronautics 2019 net sales for 2013 what was the percent of the potential factor based on the lower sales of | Background: ['aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies .', 'aeronautics 2019 major programs include the f-35 lightning ii joint strike fighter , c-130 hercules , f-16 fighting falcon , f-22 raptor , and the c-5m super galaxy .', 'aeronautics 2019 operating results included the following ( in millions ) : .']
##
Table:
****************************************
• , 2013, 2012, 2011
• net sales, $ 14123, $ 14953, $ 14362
• operating profit, 1612, 1699, 1630
• operating margins, 11.4% ( 11.4 % ), 11.4% ( 11.4 % ), 11.3% ( 11.3 % )
• backlog at year-end, 28000, 30100, 30500
****************************************
##
Additional Information: ['2013 compared to 2012 aeronautics 2019 net sales for 2013 decreased $ 830 million , or 6% ( 6 % ) , compared to 2012 .', 'the decrease was primarily attributable to lower net sales of approximately $ 530 million for the f-16 program due to fewer aircraft deliveries ( 13 aircraft delivered in 2013 compared to 37 delivered in 2012 ) partially offset by aircraft configuration mix ; about $ 385 million for the c-130 program due to fewer aircraft deliveries ( 25 aircraft delivered in 2013 compared to 34 in 2012 ) partially offset by increased sustainment activities ; approximately $ 255 million for the f-22 program , which includes about $ 205 million due to decreased production volume as final aircraft deliveries were completed during the second quarter of 2012 and $ 50 million from the favorable resolution of a contractual matter during the second quarter of 2012 ; and about $ 270 million for various other programs ( primarily sustainment activities ) due to decreased volume .', 'the decreases were partially offset by higher net sales of about $ 295 million for f-35 production contracts due to increased production volume and risk retirements ; approximately $ 245 million for the c-5 program due to increased aircraft deliveries ( six aircraft delivered in 2013 compared to four in 2012 ) and other modernization activities ; and about $ 70 million for the f-35 development contract due to increased volume .', 'aeronautics 2019 operating profit for 2013 decreased $ 87 million , or 5% ( 5 % ) , compared to 2012 .', 'the decrease was primarily attributable to lower operating profit of about $ 85 million for the f-22 program , which includes approximately $ 50 million from the favorable resolution of a contractual matter in the second quarter of 2012 and about $ 35 million due to decreased risk retirements and production volume ; approximately $ 70 million for the c-130 program due to lower risk retirements and fewer deliveries partially offset by increased sustainment activities ; about $ 65 million for the c-5 program due to the inception-to-date effect of reducing the profit booking rate in the third quarter of 2013 and lower risk retirements ; approximately $ 35 million for the f-16 program due to fewer aircraft deliveries partially offset by increased sustainment activity and aircraft configuration mix .', 'the decreases were partially offset by higher operating profit of approximately $ 180 million for f-35 production contracts due to increased risk retirements and volume .', 'operating profit was comparable for the f-35 development contract and included adjustments of approximately $ 85 million to reflect the inception-to-date impacts of the downward revisions to the profit booking rate in both 2013 and 2012 .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 75 million lower for 2013 compared to 2012 compared to 2011 aeronautics 2019 net sales for 2012 increased $ 591 million , or 4% ( 4 % ) , compared to 2011 .', 'the increase was attributable to higher net sales of approximately $ 745 million from f-35 production contracts principally due to increased production volume ; about $ 285 million from f-16 programs primarily due to higher aircraft deliveries ( 37 f-16 aircraft delivered in 2012 compared to 22 in 2011 ) partially offset by lower volume on sustainment activities due to the completion of modification programs for certain international customers ; and approximately $ 140 million from c-5 programs due to higher aircraft deliveries ( four c-5m aircraft delivered in 2012 compared to two in 2011 ) .', 'partially offsetting the increases were lower net sales of approximately $ 365 million from decreased production volume and lower risk retirements on the f-22 program as final aircraft deliveries were completed in the second quarter of 2012 ; approximately $ 110 million from the f-35 development contract primarily due to the inception-to-date effect of reducing the profit booking rate in the second quarter of 2012 and to a lesser extent lower volume ; and about $ 95 million from a decrease in volume on other sustainment activities partially offset by various other aeronautics programs due to higher volume .', 'net sales for c-130 programs were comparable to 2011 as a decline in sustainment activities largely was offset by increased aircraft deliveries. .'] | 0.63855 | LMT/2013/page_44.pdf-3 | ['aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies .', 'aeronautics 2019 major programs include the f-35 lightning ii joint strike fighter , c-130 hercules , f-16 fighting falcon , f-22 raptor , and the c-5m super galaxy .', 'aeronautics 2019 operating results included the following ( in millions ) : .'] | ['2013 compared to 2012 aeronautics 2019 net sales for 2013 decreased $ 830 million , or 6% ( 6 % ) , compared to 2012 .', 'the decrease was primarily attributable to lower net sales of approximately $ 530 million for the f-16 program due to fewer aircraft deliveries ( 13 aircraft delivered in 2013 compared to 37 delivered in 2012 ) partially offset by aircraft configuration mix ; about $ 385 million for the c-130 program due to fewer aircraft deliveries ( 25 aircraft delivered in 2013 compared to 34 in 2012 ) partially offset by increased sustainment activities ; approximately $ 255 million for the f-22 program , which includes about $ 205 million due to decreased production volume as final aircraft deliveries were completed during the second quarter of 2012 and $ 50 million from the favorable resolution of a contractual matter during the second quarter of 2012 ; and about $ 270 million for various other programs ( primarily sustainment activities ) due to decreased volume .', 'the decreases were partially offset by higher net sales of about $ 295 million for f-35 production contracts due to increased production volume and risk retirements ; approximately $ 245 million for the c-5 program due to increased aircraft deliveries ( six aircraft delivered in 2013 compared to four in 2012 ) and other modernization activities ; and about $ 70 million for the f-35 development contract due to increased volume .', 'aeronautics 2019 operating profit for 2013 decreased $ 87 million , or 5% ( 5 % ) , compared to 2012 .', 'the decrease was primarily attributable to lower operating profit of about $ 85 million for the f-22 program , which includes approximately $ 50 million from the favorable resolution of a contractual matter in the second quarter of 2012 and about $ 35 million due to decreased risk retirements and production volume ; approximately $ 70 million for the c-130 program due to lower risk retirements and fewer deliveries partially offset by increased sustainment activities ; about $ 65 million for the c-5 program due to the inception-to-date effect of reducing the profit booking rate in the third quarter of 2013 and lower risk retirements ; approximately $ 35 million for the f-16 program due to fewer aircraft deliveries partially offset by increased sustainment activity and aircraft configuration mix .', 'the decreases were partially offset by higher operating profit of approximately $ 180 million for f-35 production contracts due to increased risk retirements and volume .', 'operating profit was comparable for the f-35 development contract and included adjustments of approximately $ 85 million to reflect the inception-to-date impacts of the downward revisions to the profit booking rate in both 2013 and 2012 .', 'adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 75 million lower for 2013 compared to 2012 compared to 2011 aeronautics 2019 net sales for 2012 increased $ 591 million , or 4% ( 4 % ) , compared to 2011 .', 'the increase was attributable to higher net sales of approximately $ 745 million from f-35 production contracts principally due to increased production volume ; about $ 285 million from f-16 programs primarily due to higher aircraft deliveries ( 37 f-16 aircraft delivered in 2012 compared to 22 in 2011 ) partially offset by lower volume on sustainment activities due to the completion of modification programs for certain international customers ; and approximately $ 140 million from c-5 programs due to higher aircraft deliveries ( four c-5m aircraft delivered in 2012 compared to two in 2011 ) .', 'partially offsetting the increases were lower net sales of approximately $ 365 million from decreased production volume and lower risk retirements on the f-22 program as final aircraft deliveries were completed in the second quarter of 2012 ; approximately $ 110 million from the f-35 development contract primarily due to the inception-to-date effect of reducing the profit booking rate in the second quarter of 2012 and to a lesser extent lower volume ; and about $ 95 million from a decrease in volume on other sustainment activities partially offset by various other aeronautics programs due to higher volume .', 'net sales for c-130 programs were comparable to 2011 as a decline in sustainment activities largely was offset by increased aircraft deliveries. .'] | ****************************************
• , 2013, 2012, 2011
• net sales, $ 14123, $ 14953, $ 14362
• operating profit, 1612, 1699, 1630
• operating margins, 11.4% ( 11.4 % ), 11.4% ( 11.4 % ), 11.3% ( 11.3 % )
• backlog at year-end, 28000, 30100, 30500
**************************************** | divide(530, 830) | 0.63855 |
what is the change in value of fixed maturities afs from 2010 to 2011 , ( in billions ) ? | Background: ['the hartford financial services group , inc .', 'notes to consolidated financial statements ( continued ) 5 .', 'investments and derivative instruments ( continued ) collateral arrangements the company enters into various collateral arrangements in connection with its derivative instruments , which require both the pledging and accepting of collateral .', 'as of december 31 , 2011 and 2010 , collateral pledged having a fair value of $ 1.1 billion and $ 790 , respectively , was included in fixed maturities , afs , in the consolidated balance sheets .', 'from time to time , the company enters into secured borrowing arrangements as a means to increase net investment income .', 'the company received cash collateral of $ 33 as of december 31 , 2011 and 2010 .', 'the following table presents the classification and carrying amount of loaned securities and derivative instruments collateral pledged. .']
########
Tabular Data:
december 31 2011 december 31 2010
fixed maturities afs $ 1086 $ 823
short-term investments 199 2014
total collateral pledged $ 1285 $ 823
########
Additional Information: ['as of december 31 , 2011 and 2010 , the company had accepted collateral with a fair value of $ 2.6 billion and $ 1.5 billion , respectively , of which $ 2.0 billion and $ 1.1 billion , respectively , was cash collateral which was invested and recorded in the consolidated balance sheets in fixed maturities and short-term investments with corresponding amounts recorded in other assets and other liabilities .', 'the company is only permitted by contract to sell or repledge the noncash collateral in the event of a default by the counterparty .', 'as of december 31 , 2011 and 2010 , noncash collateral accepted was held in separate custodial accounts and was not included in the company 2019s consolidated balance sheets .', 'securities on deposit with states the company is required by law to deposit securities with government agencies in states where it conducts business .', 'as of december 31 , 2011 and 2010 , the fair value of securities on deposit was approximately $ 1.6 billion and $ 1.4 billion , respectively. .'] | 263.0 | HIG/2011/page_184.pdf-3 | ['the hartford financial services group , inc .', 'notes to consolidated financial statements ( continued ) 5 .', 'investments and derivative instruments ( continued ) collateral arrangements the company enters into various collateral arrangements in connection with its derivative instruments , which require both the pledging and accepting of collateral .', 'as of december 31 , 2011 and 2010 , collateral pledged having a fair value of $ 1.1 billion and $ 790 , respectively , was included in fixed maturities , afs , in the consolidated balance sheets .', 'from time to time , the company enters into secured borrowing arrangements as a means to increase net investment income .', 'the company received cash collateral of $ 33 as of december 31 , 2011 and 2010 .', 'the following table presents the classification and carrying amount of loaned securities and derivative instruments collateral pledged. .'] | ['as of december 31 , 2011 and 2010 , the company had accepted collateral with a fair value of $ 2.6 billion and $ 1.5 billion , respectively , of which $ 2.0 billion and $ 1.1 billion , respectively , was cash collateral which was invested and recorded in the consolidated balance sheets in fixed maturities and short-term investments with corresponding amounts recorded in other assets and other liabilities .', 'the company is only permitted by contract to sell or repledge the noncash collateral in the event of a default by the counterparty .', 'as of december 31 , 2011 and 2010 , noncash collateral accepted was held in separate custodial accounts and was not included in the company 2019s consolidated balance sheets .', 'securities on deposit with states the company is required by law to deposit securities with government agencies in states where it conducts business .', 'as of december 31 , 2011 and 2010 , the fair value of securities on deposit was approximately $ 1.6 billion and $ 1.4 billion , respectively. .'] | december 31 2011 december 31 2010
fixed maturities afs $ 1086 $ 823
short-term investments 199 2014
total collateral pledged $ 1285 $ 823 | subtract(1086, 823) | 263.0 |
as of september 27 , 2014 , what percentage of total trade receivables did the company's two largest customers account for ? | Background: ['table of contents the notional amounts for outstanding derivative instruments provide one measure of the transaction volume outstanding and do not represent the amount of the company 2019s exposure to credit or market loss .', 'the credit risk amounts represent the company 2019s gross exposure to potential accounting loss on derivative instruments that are outstanding or unsettled if all counterparties failed to perform according to the terms of the contract , based on then-current currency or interest rates at each respective date .', 'the company 2019s exposure to credit loss and market risk will vary over time as currency and interest rates change .', 'although the table above reflects the notional and credit risk amounts of the company 2019s derivative instruments , it does not reflect the gains or losses associated with the exposures and transactions that the instruments are intended to hedge .', 'the amounts ultimately realized upon settlement of these financial instruments , together with the gains and losses on the underlying exposures , will depend on actual market conditions during the remaining life of the instruments .', 'the company generally enters into master netting arrangements , which are designed to reduce credit risk by permitting net settlement of transactions with the same counterparty .', 'to further limit credit risk , the company generally enters into collateral security arrangements that provide for collateral to be received or posted when the net fair value of certain financial instruments fluctuates from contractually established thresholds .', 'the company presents its derivative assets and derivative liabilities at their gross fair values in its consolidated balance sheets .', 'the net cash collateral received by the company related to derivative instruments under its collateral security arrangements was $ 1.0 billion as of september 26 , 2015 and $ 2.1 billion as of september 27 , 2014 .', 'under master netting arrangements with the respective counterparties to the company 2019s derivative contracts , the company is allowed to net settle transactions with a single net amount payable by one party to the other .', 'as of september 26 , 2015 and september 27 , 2014 , the potential effects of these rights of set-off associated with the company 2019s derivative contracts , including the effects of collateral , would be a reduction to both derivative assets and derivative liabilities of $ 2.2 billion and $ 1.6 billion , respectively , resulting in net derivative liabilities of $ 78 million and $ 549 million , respectively .', 'accounts receivable receivables the company has considerable trade receivables outstanding with its third-party cellular network carriers , wholesalers , retailers , value-added resellers , small and mid-sized businesses and education , enterprise and government customers .', 'the company generally does not require collateral from its customers ; however , the company will require collateral in certain instances to limit credit risk .', 'in addition , when possible , the company attempts to limit credit risk on trade receivables with credit insurance for certain customers or by requiring third-party financing , loans or leases to support credit exposure .', 'these credit-financing arrangements are directly between the third-party financing company and the end customer .', 'as such , the company generally does not assume any recourse or credit risk sharing related to any of these arrangements .', 'as of september 26 , 2015 , the company had one customer that represented 10% ( 10 % ) or more of total trade receivables , which accounted for 12% ( 12 % ) .', 'as of september 27 , 2014 , the company had two customers that represented 10% ( 10 % ) or more of total trade receivables , one of which accounted for 16% ( 16 % ) and the other 13% ( 13 % ) .', 'the company 2019s cellular network carriers accounted for 71% ( 71 % ) and 72% ( 72 % ) of trade receivables as of september 26 , 2015 and september 27 , 2014 , respectively .', 'vendor non-trade receivables the company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture sub-assemblies or assemble final products for the company .', 'the company purchases these components directly from suppliers .', 'vendor non-trade receivables from three of the company 2019s vendors accounted for 38% ( 38 % ) , 18% ( 18 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 26 , 2015 and three of the company 2019s vendors accounted for 51% ( 51 % ) , 16% ( 16 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 27 , 2014 .', 'note 3 2013 consolidated financial statement details the following tables show the company 2019s consolidated financial statement details as of september 26 , 2015 and september 27 , 2014 ( in millions ) : property , plant and equipment , net .']
##########
Tabular Data:
========================================
2015 2014
land and buildings $ 6956 $ 4863
machinery equipment and internal-use software 37038 29639
leasehold improvements 5263 4513
gross property plant and equipment 49257 39015
accumulated depreciation and amortization -26786 ( 26786 ) -18391 ( 18391 )
total property plant and equipment net $ 22471 $ 20624
========================================
##########
Additional Information: ['apple inc .', '| 2015 form 10-k | 53 .'] | 29.0 | AAPL/2015/page_56.pdf-4 | ['table of contents the notional amounts for outstanding derivative instruments provide one measure of the transaction volume outstanding and do not represent the amount of the company 2019s exposure to credit or market loss .', 'the credit risk amounts represent the company 2019s gross exposure to potential accounting loss on derivative instruments that are outstanding or unsettled if all counterparties failed to perform according to the terms of the contract , based on then-current currency or interest rates at each respective date .', 'the company 2019s exposure to credit loss and market risk will vary over time as currency and interest rates change .', 'although the table above reflects the notional and credit risk amounts of the company 2019s derivative instruments , it does not reflect the gains or losses associated with the exposures and transactions that the instruments are intended to hedge .', 'the amounts ultimately realized upon settlement of these financial instruments , together with the gains and losses on the underlying exposures , will depend on actual market conditions during the remaining life of the instruments .', 'the company generally enters into master netting arrangements , which are designed to reduce credit risk by permitting net settlement of transactions with the same counterparty .', 'to further limit credit risk , the company generally enters into collateral security arrangements that provide for collateral to be received or posted when the net fair value of certain financial instruments fluctuates from contractually established thresholds .', 'the company presents its derivative assets and derivative liabilities at their gross fair values in its consolidated balance sheets .', 'the net cash collateral received by the company related to derivative instruments under its collateral security arrangements was $ 1.0 billion as of september 26 , 2015 and $ 2.1 billion as of september 27 , 2014 .', 'under master netting arrangements with the respective counterparties to the company 2019s derivative contracts , the company is allowed to net settle transactions with a single net amount payable by one party to the other .', 'as of september 26 , 2015 and september 27 , 2014 , the potential effects of these rights of set-off associated with the company 2019s derivative contracts , including the effects of collateral , would be a reduction to both derivative assets and derivative liabilities of $ 2.2 billion and $ 1.6 billion , respectively , resulting in net derivative liabilities of $ 78 million and $ 549 million , respectively .', 'accounts receivable receivables the company has considerable trade receivables outstanding with its third-party cellular network carriers , wholesalers , retailers , value-added resellers , small and mid-sized businesses and education , enterprise and government customers .', 'the company generally does not require collateral from its customers ; however , the company will require collateral in certain instances to limit credit risk .', 'in addition , when possible , the company attempts to limit credit risk on trade receivables with credit insurance for certain customers or by requiring third-party financing , loans or leases to support credit exposure .', 'these credit-financing arrangements are directly between the third-party financing company and the end customer .', 'as such , the company generally does not assume any recourse or credit risk sharing related to any of these arrangements .', 'as of september 26 , 2015 , the company had one customer that represented 10% ( 10 % ) or more of total trade receivables , which accounted for 12% ( 12 % ) .', 'as of september 27 , 2014 , the company had two customers that represented 10% ( 10 % ) or more of total trade receivables , one of which accounted for 16% ( 16 % ) and the other 13% ( 13 % ) .', 'the company 2019s cellular network carriers accounted for 71% ( 71 % ) and 72% ( 72 % ) of trade receivables as of september 26 , 2015 and september 27 , 2014 , respectively .', 'vendor non-trade receivables the company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture sub-assemblies or assemble final products for the company .', 'the company purchases these components directly from suppliers .', 'vendor non-trade receivables from three of the company 2019s vendors accounted for 38% ( 38 % ) , 18% ( 18 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 26 , 2015 and three of the company 2019s vendors accounted for 51% ( 51 % ) , 16% ( 16 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 27 , 2014 .', 'note 3 2013 consolidated financial statement details the following tables show the company 2019s consolidated financial statement details as of september 26 , 2015 and september 27 , 2014 ( in millions ) : property , plant and equipment , net .'] | ['apple inc .', '| 2015 form 10-k | 53 .'] | ========================================
2015 2014
land and buildings $ 6956 $ 4863
machinery equipment and internal-use software 37038 29639
leasehold improvements 5263 4513
gross property plant and equipment 49257 39015
accumulated depreciation and amortization -26786 ( 26786 ) -18391 ( 18391 )
total property plant and equipment net $ 22471 $ 20624
======================================== | add(16, 13) | 29.0 |
assuming that actual net rent expense will be the same as presented in the table , what would be the growth rate in the net rent expense from 2008 to 2009? | Context: ['notes to consolidated financial statements at december 31 , 2007 , future minimum rental payments required under operating leases for continuing operations that have initial or remaining noncancelable lease terms in excess of one year , net of sublease rental income , most of which pertain to real estate leases , are as follows : ( millions ) .']
------
Tabular Data:
****************************************
2008, $ 317
2009, 275
2010, 236
2011, 214
2012, 191
later years, 597
total minimum payments required, $ 1830
****************************************
------
Follow-up: ['aon corporation .'] | -0.13249 | AON/2007/page_185.pdf-2 | ['notes to consolidated financial statements at december 31 , 2007 , future minimum rental payments required under operating leases for continuing operations that have initial or remaining noncancelable lease terms in excess of one year , net of sublease rental income , most of which pertain to real estate leases , are as follows : ( millions ) .'] | ['aon corporation .'] | ****************************************
2008, $ 317
2009, 275
2010, 236
2011, 214
2012, 191
later years, 597
total minimum payments required, $ 1830
**************************************** | subtract(275, 317), divide(#0, 317) | -0.13249 |
in 2006 what was the ratio of the class a shares and promissory notes international paper contributed in the acquisition of borrower entities interest | Context: ['working on the site .', 'the company resolved five of the eight pending lawsuits arising from this matter and believes that it has adequate insurance to resolve remaining matters .', 'the company believes that the settlement of these lawsuits will not have a material adverse effect on its consolidated financial statements .', 'during the 2009 third quarter , in connection with an environmental site remediation action under cer- cla , international paper submitted to the epa a feasibility study for this site .', 'the epa has indicated that it intends to select a proposed remedial action alternative from those identified in the study and present this proposal for public comment .', 'since it is not currently possible to determine the final remedial action that will be required , the company has accrued , as of december 31 , 2009 , an estimate of the minimum costs that could be required for this site .', 'when the remediation plan is finalized by the epa , it is possible that the remediation costs could be sig- nificantly higher than amounts currently recorded .', 'exterior siding and roofing litigation international paper has established reserves relating to the settlement , during 1998 and 1999 , of three nationwide class action lawsuits against the com- pany and masonite corp. , a former wholly-owned subsidiary of the company .', 'those settlements relate to ( 1 ) exterior hardboard siding installed during the 1980 2019s and 1990 2019s ( the hardboard claims ) ; ( 2 ) omniwood siding installed during the 1990 2019s ( the omniwood claims ) ; and ( 3 ) woodruf roofing installed during the 1980 2019s and 1990 2019s ( the woodruf claims ) .', 'all hardboard claims were required to be made by january 15 , 2008 , while all omniwood and woodruf claims were required to be made by jan- uary 6 , 2009 .', 'the following table presents an analysis of total reserve activity related to the hardboard , omniwood and woodruf settlements for the years ended december 31 , 2009 , 2008 and 2007 : in millions total .']
####
Data Table:
****************************************
in millions total
balance december 31 2006 $ 124
payments -78 ( 78 )
balance december 31 2007 46
additional provision 82
payments -87 ( 87 )
balance december 31 2008 41
payments -38 ( 38 )
balance december 31 2009 $ 3
****************************************
####
Additional Information: ['the company believes that the aggregate reserve balance remaining at december 31 , 2009 is adequate to cover the final settlement of remaining claims .', 'summary the company is also involved in various other inquiries , administrative proceedings and litigation relating to contracts , sales of property , intellectual property , environmental and safety matters , tax , personal injury , labor and employment and other matters , some of which allege substantial monetary damages .', 'while any proceeding or litigation has the element of uncertainty , the company believes that the outcome of any of the lawsuits or claims that are pending or threatened , or all of them combined , will not have a material adverse effect on its consolidated financial statements .', 'note 12 variable interest entities and preferred securities of subsidiaries variable interest entities in connection with the 2006 sale of approximately 5.6 million acres of forestlands , international paper received installment notes ( the timber notes ) total- ing approximately $ 4.8 billion .', 'the timber notes , which do not require principal payments prior to their august 2016 maturity , are supported by irrev- ocable letters of credit obtained by the buyers of the forestlands .', 'during the 2006 fourth quarter , interna- tional paper contributed the timber notes to newly formed entities ( the borrower entities ) in exchange for class a and class b interests in these entities .', 'subsequently , international paper contributed its $ 200 million class a interests in the borrower enti- ties , along with approximately $ 400 million of international paper promissory notes , to other newly formed entities ( the investor entities ) in exchange for class a and class b interests in these entities , and simultaneously sold its class a interest in the investor entities to a third party investor .', 'as a result , at december 31 , 2006 , international paper held class b interests in the borrower entities and class b interests in the investor entities valued at approx- imately $ 5.0 billion .', 'international paper has no obligation to make any further capital contributions to these entities and did not provide financial or other support during 2009 , 2008 or 2007 that was not previously contractually required .', 'based on an analysis of these entities under guidance that considers the potential magnitude of the variability in the structure and which party bears a majority of the gains or losses , international paper determined that it is not the primary beneficiary of these entities .'] | 0.5 | IP/2009/page_85.pdf-1 | ['working on the site .', 'the company resolved five of the eight pending lawsuits arising from this matter and believes that it has adequate insurance to resolve remaining matters .', 'the company believes that the settlement of these lawsuits will not have a material adverse effect on its consolidated financial statements .', 'during the 2009 third quarter , in connection with an environmental site remediation action under cer- cla , international paper submitted to the epa a feasibility study for this site .', 'the epa has indicated that it intends to select a proposed remedial action alternative from those identified in the study and present this proposal for public comment .', 'since it is not currently possible to determine the final remedial action that will be required , the company has accrued , as of december 31 , 2009 , an estimate of the minimum costs that could be required for this site .', 'when the remediation plan is finalized by the epa , it is possible that the remediation costs could be sig- nificantly higher than amounts currently recorded .', 'exterior siding and roofing litigation international paper has established reserves relating to the settlement , during 1998 and 1999 , of three nationwide class action lawsuits against the com- pany and masonite corp. , a former wholly-owned subsidiary of the company .', 'those settlements relate to ( 1 ) exterior hardboard siding installed during the 1980 2019s and 1990 2019s ( the hardboard claims ) ; ( 2 ) omniwood siding installed during the 1990 2019s ( the omniwood claims ) ; and ( 3 ) woodruf roofing installed during the 1980 2019s and 1990 2019s ( the woodruf claims ) .', 'all hardboard claims were required to be made by january 15 , 2008 , while all omniwood and woodruf claims were required to be made by jan- uary 6 , 2009 .', 'the following table presents an analysis of total reserve activity related to the hardboard , omniwood and woodruf settlements for the years ended december 31 , 2009 , 2008 and 2007 : in millions total .'] | ['the company believes that the aggregate reserve balance remaining at december 31 , 2009 is adequate to cover the final settlement of remaining claims .', 'summary the company is also involved in various other inquiries , administrative proceedings and litigation relating to contracts , sales of property , intellectual property , environmental and safety matters , tax , personal injury , labor and employment and other matters , some of which allege substantial monetary damages .', 'while any proceeding or litigation has the element of uncertainty , the company believes that the outcome of any of the lawsuits or claims that are pending or threatened , or all of them combined , will not have a material adverse effect on its consolidated financial statements .', 'note 12 variable interest entities and preferred securities of subsidiaries variable interest entities in connection with the 2006 sale of approximately 5.6 million acres of forestlands , international paper received installment notes ( the timber notes ) total- ing approximately $ 4.8 billion .', 'the timber notes , which do not require principal payments prior to their august 2016 maturity , are supported by irrev- ocable letters of credit obtained by the buyers of the forestlands .', 'during the 2006 fourth quarter , interna- tional paper contributed the timber notes to newly formed entities ( the borrower entities ) in exchange for class a and class b interests in these entities .', 'subsequently , international paper contributed its $ 200 million class a interests in the borrower enti- ties , along with approximately $ 400 million of international paper promissory notes , to other newly formed entities ( the investor entities ) in exchange for class a and class b interests in these entities , and simultaneously sold its class a interest in the investor entities to a third party investor .', 'as a result , at december 31 , 2006 , international paper held class b interests in the borrower entities and class b interests in the investor entities valued at approx- imately $ 5.0 billion .', 'international paper has no obligation to make any further capital contributions to these entities and did not provide financial or other support during 2009 , 2008 or 2007 that was not previously contractually required .', 'based on an analysis of these entities under guidance that considers the potential magnitude of the variability in the structure and which party bears a majority of the gains or losses , international paper determined that it is not the primary beneficiary of these entities .'] | ****************************************
in millions total
balance december 31 2006 $ 124
payments -78 ( 78 )
balance december 31 2007 46
additional provision 82
payments -87 ( 87 )
balance december 31 2008 41
payments -38 ( 38 )
balance december 31 2009 $ 3
**************************************** | divide(200, 400) | 0.5 |
what is the total tobacco-related cases pending in the united states as of december 31 , 2013? | Background: ['cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any .', 'legal defense costs are expensed as incurred .', 'altria group , inc .', 'and its subsidiaries have achieved substantial success in managing litigation .', 'nevertheless , litigation is subject to uncertainty and significant challenges remain .', 'it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation .', 'altria group , inc .', 'and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts .', 'each of the companies has defended , and will continue to defend , vigorously against litigation challenges .', 'however , altria group , inc .', 'and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc .', 'to do so .', 'overview of altria group , inc .', 'and/or pm usa tobacco-related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court- supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco- related litigation described below .', 'plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below .', 'the table below lists the number of certain tobacco-related cases pending in the united states against pm usa and , in some instances , altria group , inc .', 'as of december 31 , 2014 , december 31 , 2013 and december 31 , 2012 .', 'type of case number of cases pending as of december 31 , 2014 number of cases pending as of december 31 , 2013 number of cases pending as of december 31 , 2012 individual smoking and health cases ( 1 ) 67 67 77 smoking and health class actions and aggregated claims litigation ( 2 ) 5 6 7 health care cost recovery actions ( 3 ) 1 1 1 .']
########
Tabular Data:
----------------------------------------
type of case | number of casespending as ofdecember 31 2014 | number of casespending as ofdecember 31 2013 | number of casespending as ofdecember 31 2012
individual smoking and health cases ( 1 ) | 67 | 67 | 77
smoking and health class actions and aggregated claims litigation ( 2 ) | 5 | 6 | 7
health care cost recovery actions ( 3 ) | 1 | 1 | 1
201clights/ultra lights 201d class actions | 12 | 15 | 14
----------------------------------------
########
Post-table: ['( 1 ) does not include 2558 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) .', 'the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) .', 'the terms of the court-approved settlement in that case allow class members to file individual lawsuits seeking compensatory damages , but prohibit them from seeking punitive damages .', 'also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) .', '( 2 ) includes as one case the 600 civil actions ( of which 346 were actions against pm usa ) that were to be tried in a single proceeding in west virginia ( in re : tobacco litigation ) .', 'the west virginia supreme court of appeals has ruled that the united states constitution did not preclude a trial in two phases in this case .', 'issues related to defendants 2019 conduct and whether punitive damages are permissible were tried in the first phase .', 'trial in the first phase of this case began in april 2013 .', 'in may 2013 , the jury returned a verdict in favor of defendants on the claims for design defect , negligence , failure to warn , breach of warranty , and concealment and declined to find that the defendants 2019 conduct warranted punitive damages .', 'plaintiffs prevailed on their claim that ventilated filter cigarettes should have included use instructions for the period 1964 - 1969 .', 'the second phase , if any , will consist of individual trials to determine liability and compensatory damages on that claim only .', 'in august 2013 , the trial court denied all post-trial motions .', 'the trial court entered final judgment in october 2013 and , in november 2013 , plaintiffs filed their notice of appeal to the west virginia supreme court of appeals .', 'on november 3 , 2014 , the west virginia supreme court of appeals affirmed the final judgment .', 'plaintiffs filed a petition for rehearing with the west virginia supreme court of appeals , which the court denied on january 8 , 2015 .', '( 3 ) see health care cost recovery litigation - federal government 2019s lawsuit below .', 'altria group , inc .', 'and subsidiaries notes to consolidated financial statements _________________________ altria_mdc_2014form10k_nolinks_crops.pdf 68 2/25/15 5:56 pm .'] | 89.0 | MO/2014/page_76.pdf-2 | ['cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any .', 'legal defense costs are expensed as incurred .', 'altria group , inc .', 'and its subsidiaries have achieved substantial success in managing litigation .', 'nevertheless , litigation is subject to uncertainty and significant challenges remain .', 'it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation .', 'altria group , inc .', 'and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts .', 'each of the companies has defended , and will continue to defend , vigorously against litigation challenges .', 'however , altria group , inc .', 'and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc .', 'to do so .', 'overview of altria group , inc .', 'and/or pm usa tobacco-related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court- supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco- related litigation described below .', 'plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below .', 'the table below lists the number of certain tobacco-related cases pending in the united states against pm usa and , in some instances , altria group , inc .', 'as of december 31 , 2014 , december 31 , 2013 and december 31 , 2012 .', 'type of case number of cases pending as of december 31 , 2014 number of cases pending as of december 31 , 2013 number of cases pending as of december 31 , 2012 individual smoking and health cases ( 1 ) 67 67 77 smoking and health class actions and aggregated claims litigation ( 2 ) 5 6 7 health care cost recovery actions ( 3 ) 1 1 1 .'] | ['( 1 ) does not include 2558 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) .', 'the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) .', 'the terms of the court-approved settlement in that case allow class members to file individual lawsuits seeking compensatory damages , but prohibit them from seeking punitive damages .', 'also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) .', '( 2 ) includes as one case the 600 civil actions ( of which 346 were actions against pm usa ) that were to be tried in a single proceeding in west virginia ( in re : tobacco litigation ) .', 'the west virginia supreme court of appeals has ruled that the united states constitution did not preclude a trial in two phases in this case .', 'issues related to defendants 2019 conduct and whether punitive damages are permissible were tried in the first phase .', 'trial in the first phase of this case began in april 2013 .', 'in may 2013 , the jury returned a verdict in favor of defendants on the claims for design defect , negligence , failure to warn , breach of warranty , and concealment and declined to find that the defendants 2019 conduct warranted punitive damages .', 'plaintiffs prevailed on their claim that ventilated filter cigarettes should have included use instructions for the period 1964 - 1969 .', 'the second phase , if any , will consist of individual trials to determine liability and compensatory damages on that claim only .', 'in august 2013 , the trial court denied all post-trial motions .', 'the trial court entered final judgment in october 2013 and , in november 2013 , plaintiffs filed their notice of appeal to the west virginia supreme court of appeals .', 'on november 3 , 2014 , the west virginia supreme court of appeals affirmed the final judgment .', 'plaintiffs filed a petition for rehearing with the west virginia supreme court of appeals , which the court denied on january 8 , 2015 .', '( 3 ) see health care cost recovery litigation - federal government 2019s lawsuit below .', 'altria group , inc .', 'and subsidiaries notes to consolidated financial statements _________________________ altria_mdc_2014form10k_nolinks_crops.pdf 68 2/25/15 5:56 pm .'] | ----------------------------------------
type of case | number of casespending as ofdecember 31 2014 | number of casespending as ofdecember 31 2013 | number of casespending as ofdecember 31 2012
individual smoking and health cases ( 1 ) | 67 | 67 | 77
smoking and health class actions and aggregated claims litigation ( 2 ) | 5 | 6 | 7
health care cost recovery actions ( 3 ) | 1 | 1 | 1
201clights/ultra lights 201d class actions | 12 | 15 | 14
---------------------------------------- | add(67, 6), add(#0, 1), add(#1, 15) | 89.0 |
assuming a stock price of $ 22.97 in 2010 , what would be the dividend per share? | Background: ['the weighted average fair value of options granted during 2010 , 2009 and 2008 was estimated to be $ 7.84 , $ 7.18 and $ 3.84 , respectively , using the black-scholes option pricing model with the assumptions below: .']
##
Table:
----------------------------------------
Row 1: , 2010, 2009, 2008
Row 2: risk free interest rate, 1.1% ( 1.1 % ), 2.3% ( 2.3 % ), 2.8% ( 2.8 % )
Row 3: volatility, 35.6% ( 35.6 % ), 35.0% ( 35.0 % ), 26.0% ( 26.0 % )
Row 4: dividend yield, 0.7% ( 0.7 % ), 1.0% ( 1.0 % ), 1.0% ( 1.0 % )
Row 5: weighted average expected life ( years ), 4.4, 5.0, 5.3
----------------------------------------
##
Additional Information: ['at december 31 , 2010 and 2009 , the total unrecognized compensation cost related to non-vested stock awards is $ 129.3 million and $ 93.5 million , respectively , which is expected to be recognized in pre-tax income over a weighted average period of 1.7 years as of both year ends .', 'the company granted a total of 1.5 million restricted stock awards at prices ranging from $ 25.76 to $ 28.15 on various dates in 2010 .', 'these awards vest annually over three years .', 'the company also granted 0.9 million performance restricted stock units during 2010 .', 'these performance restricted stock units have been granted at the maximum achievable level and the number of shares that can vest is based on specific revenue and ebitda goals for periods from 2010 through 2012 .', 'during 2009 , we granted 0.5 million shares of restricted stock at a price of $ 22.55 that vest annually over 3 years .', 'on october 1 , 2009 , the company granted 0.4 million restricted stock units at a price of $ 24.85 per share that vested over six months .', 'on march 20 , 2008 , we granted 0.4 million shares of restricted stock at a price of $ 38.75 that were to vest quarterly over 2 years .', 'on july 2 , 2008 , 0.2 million of these shares were canceled and assumed by lps .', 'the remaining unvested restricted shares were converted by the conversion factor of 1.7952 .', 'these awards vested as of october 1 , 2009 , under the change in control provisions due to the metavante acquisition .', 'on october 27 , 2008 , we granted 0.8 million shares of restricted stock at a price of $ 14.35 that vest annually over 3 years .', 'as of december 31 , 2010 and 2009 , we have approximately 2.2 million and 1.4 million unvested restricted shares remaining .', 'as of december 31 , 2010 we also have 0.6 million of restricted stock units that have not vested .', 'share repurchase plans on october 25 , 2006 , our board of directors approved a plan authorizing repurchases of up to $ 200.0 million worth of our common stock ( the 201cold plan 201d ) .', 'on april 17 , 2008 , our board of directors approved a plan authorizing repurchases of up to an additional $ 250.0 million worth of our common stock ( the 201cnew plan 201d ) .', 'under the new plan we repurchased 5.8 million shares of our stock for $ 226.2 million , at an average price of $ 38.97 for the year ended december 31 , 2008 .', 'during the year ended december 31 , 2008 , we also repurchased an additional 0.2 million shares of our stock for $ 10.0 million at an average price of $ 40.56 under the old plan .', 'during 2007 , the company repurchased 1.6 million shares at an average price of $ 49.15 under the old plan .', 'on february 4 , 2010 our board of directors approved a plan authorizing repurchases of up to 15.0 million shares of our common stock in the open market , at prevailing market prices or in privately negotiated transactions , through january 31 , 2013 .', 'we repurchased 1.4 million shares of our common stock for $ 32.2 million , at an average price of $ 22.97 through march 31 , 2010 .', 'no additional shares were repurchased under this plan during the year ended december 31 , 2010 .', 'approximately 13.6 million shares of our common stock remain available to repurchase under this plan as of december 31 , 2010 .', 'on may 25 , 2010 , our board of directors authorized a leveraged recapitalization plan to repurchase up to $ 2.5 billion of our common stock at a price range of $ 29.00 2014 $ 31.00 per share of common stock through a modified 201cdutch auction 201d tender offer ( the 201ctender offer 201d ) .', 'the tender offer commenced on july 6 , 2010 and expired on august 3 , 2010 .', 'the tender offer was oversubscribed at $ 29.00 , resulting in the purchase of 86.2 million shares , including 6.4 million shares underlying previously unexercised stock options .', 'the repurchased shares were added to treasury stock .', 'fidelity national information services , inc .', 'and subsidiaries notes to consolidated financial statements 2014 ( continued ) %%transmsg*** transmitting job : g26369 pcn : 087000000 ***%%pcmsg|87 |00008|yes|no|03/28/2011 17:32|0|0|page is valid , no graphics -- color : n| .'] | 0.16079 | FIS/2010/page_93.pdf-2 | ['the weighted average fair value of options granted during 2010 , 2009 and 2008 was estimated to be $ 7.84 , $ 7.18 and $ 3.84 , respectively , using the black-scholes option pricing model with the assumptions below: .'] | ['at december 31 , 2010 and 2009 , the total unrecognized compensation cost related to non-vested stock awards is $ 129.3 million and $ 93.5 million , respectively , which is expected to be recognized in pre-tax income over a weighted average period of 1.7 years as of both year ends .', 'the company granted a total of 1.5 million restricted stock awards at prices ranging from $ 25.76 to $ 28.15 on various dates in 2010 .', 'these awards vest annually over three years .', 'the company also granted 0.9 million performance restricted stock units during 2010 .', 'these performance restricted stock units have been granted at the maximum achievable level and the number of shares that can vest is based on specific revenue and ebitda goals for periods from 2010 through 2012 .', 'during 2009 , we granted 0.5 million shares of restricted stock at a price of $ 22.55 that vest annually over 3 years .', 'on october 1 , 2009 , the company granted 0.4 million restricted stock units at a price of $ 24.85 per share that vested over six months .', 'on march 20 , 2008 , we granted 0.4 million shares of restricted stock at a price of $ 38.75 that were to vest quarterly over 2 years .', 'on july 2 , 2008 , 0.2 million of these shares were canceled and assumed by lps .', 'the remaining unvested restricted shares were converted by the conversion factor of 1.7952 .', 'these awards vested as of october 1 , 2009 , under the change in control provisions due to the metavante acquisition .', 'on october 27 , 2008 , we granted 0.8 million shares of restricted stock at a price of $ 14.35 that vest annually over 3 years .', 'as of december 31 , 2010 and 2009 , we have approximately 2.2 million and 1.4 million unvested restricted shares remaining .', 'as of december 31 , 2010 we also have 0.6 million of restricted stock units that have not vested .', 'share repurchase plans on october 25 , 2006 , our board of directors approved a plan authorizing repurchases of up to $ 200.0 million worth of our common stock ( the 201cold plan 201d ) .', 'on april 17 , 2008 , our board of directors approved a plan authorizing repurchases of up to an additional $ 250.0 million worth of our common stock ( the 201cnew plan 201d ) .', 'under the new plan we repurchased 5.8 million shares of our stock for $ 226.2 million , at an average price of $ 38.97 for the year ended december 31 , 2008 .', 'during the year ended december 31 , 2008 , we also repurchased an additional 0.2 million shares of our stock for $ 10.0 million at an average price of $ 40.56 under the old plan .', 'during 2007 , the company repurchased 1.6 million shares at an average price of $ 49.15 under the old plan .', 'on february 4 , 2010 our board of directors approved a plan authorizing repurchases of up to 15.0 million shares of our common stock in the open market , at prevailing market prices or in privately negotiated transactions , through january 31 , 2013 .', 'we repurchased 1.4 million shares of our common stock for $ 32.2 million , at an average price of $ 22.97 through march 31 , 2010 .', 'no additional shares were repurchased under this plan during the year ended december 31 , 2010 .', 'approximately 13.6 million shares of our common stock remain available to repurchase under this plan as of december 31 , 2010 .', 'on may 25 , 2010 , our board of directors authorized a leveraged recapitalization plan to repurchase up to $ 2.5 billion of our common stock at a price range of $ 29.00 2014 $ 31.00 per share of common stock through a modified 201cdutch auction 201d tender offer ( the 201ctender offer 201d ) .', 'the tender offer commenced on july 6 , 2010 and expired on august 3 , 2010 .', 'the tender offer was oversubscribed at $ 29.00 , resulting in the purchase of 86.2 million shares , including 6.4 million shares underlying previously unexercised stock options .', 'the repurchased shares were added to treasury stock .', 'fidelity national information services , inc .', 'and subsidiaries notes to consolidated financial statements 2014 ( continued ) %%transmsg*** transmitting job : g26369 pcn : 087000000 ***%%pcmsg|87 |00008|yes|no|03/28/2011 17:32|0|0|page is valid , no graphics -- color : n| .'] | ----------------------------------------
Row 1: , 2010, 2009, 2008
Row 2: risk free interest rate, 1.1% ( 1.1 % ), 2.3% ( 2.3 % ), 2.8% ( 2.8 % )
Row 3: volatility, 35.6% ( 35.6 % ), 35.0% ( 35.0 % ), 26.0% ( 26.0 % )
Row 4: dividend yield, 0.7% ( 0.7 % ), 1.0% ( 1.0 % ), 1.0% ( 1.0 % )
Row 5: weighted average expected life ( years ), 4.4, 5.0, 5.3
---------------------------------------- | multiply(22.97, 0.7%) | 0.16079 |
what was the difference in percentage 5 year cumulative total return between edwards lifesciences corporation and the s&p 500? | Context: ['12feb201521095992 performance graph the following graph compares the performance of our common stock with that of the s&p 500 index and the s&p 500 healthcare equipment index .', 'the cumulative total return listed below assumes an initial investment of $ 100 on december 31 , 2009 and reinvestment of dividends .', 'comparison of 5 year cumulative total return rs $ 200 2009 2010 2011 201420132012 edwards lifesciences corporation s&p 500 s&p 500 healthcare equipment december 31 .']
Tabular Data:
========================================
total cumulative return 2010 2011 2012 2013 2014
edwards lifesciences $ 186.16 $ 162.81 $ 207.65 $ 151.43 $ 293.33
s&p 500 115.06 117.49 136.30 180.44 205.14
s&p 500 healthcare equipment index 96.84 102.07 120.66 153.85 194.33
========================================
Follow-up: ['.'] | 0.8819 | EW/2014/page_35.pdf-2 | ['12feb201521095992 performance graph the following graph compares the performance of our common stock with that of the s&p 500 index and the s&p 500 healthcare equipment index .', 'the cumulative total return listed below assumes an initial investment of $ 100 on december 31 , 2009 and reinvestment of dividends .', 'comparison of 5 year cumulative total return rs $ 200 2009 2010 2011 201420132012 edwards lifesciences corporation s&p 500 s&p 500 healthcare equipment december 31 .'] | ['.'] | ========================================
total cumulative return 2010 2011 2012 2013 2014
edwards lifesciences $ 186.16 $ 162.81 $ 207.65 $ 151.43 $ 293.33
s&p 500 115.06 117.49 136.30 180.44 205.14
s&p 500 healthcare equipment index 96.84 102.07 120.66 153.85 194.33
======================================== | subtract(293.33, 100), divide(#0, 100), subtract(205.14, 100), divide(#2, 100), subtract(#1, #3) | 0.8819 |
what is the percent change of weighted-average estimated fair value of employee stock options between 2011 and 2012? | Context: ['defined contribution plan the company and certain subsidiaries have various defined contribution plans , in which all eligible employees may participate .', 'in the u.s. , the 401 ( k ) plan is a contributory plan .', 'matching contributions are based upon the amount of the employees 2019 contributions .', 'after temporarily suspending all matching contributions , effective july 1 , 2010 , the company reinstated matching contributions and provides a dollar for dollar ( 100% ( 100 % ) ) match on the first 4% ( 4 % ) of employee contributions .', 'the maximum matching contribution for 2010 was pro-rated to account for the number of months remaining after the reinstatement .', 'the company 2019s expenses for material defined contribution plans for the years ended december 31 , 2012 , 2011 and 2010 were $ 42 million , $ 48 million and $ 23 million , respectively .', 'beginning january 1 , 2012 , the company may make an additional discretionary 401 ( k ) plan matching contribution to eligible employees .', 'for the year ended december 31 , 2012 , the company made no discretionary matching contributions .', '8 .', 'share-based compensation plans and other incentive plans stock options , stock appreciation rights and employee stock purchase plan the company grants options to acquire shares of common stock to certain employees and to existing option holders of acquired companies in connection with the merging of option plans following an acquisition .', 'each option granted and stock appreciation right has an exercise price of no less than 100% ( 100 % ) of the fair market value of the common stock on the date of the grant .', 'the awards have a contractual life of five to ten years and vest over two to four years .', 'stock options and stock appreciation rights assumed or replaced with comparable stock options or stock appreciation rights in conjunction with a change in control of the company only become exercisable if the holder is also involuntarily terminated ( for a reason other than cause ) or quits for good reason within 24 months of a change in control .', 'the employee stock purchase plan allows eligible participants to purchase shares of the company 2019s common stock through payroll deductions of up to 20% ( 20 % ) of eligible compensation on an after-tax basis .', 'plan participants cannot purchase more than $ 25000 of stock in any calendar year .', 'the price an employee pays per share is 85% ( 85 % ) of the lower of the fair market value of the company 2019s stock on the close of the first trading day or last trading day of the purchase period .', 'the plan has two purchase periods , the first one from october 1 through march 31 and the second one from april 1 through september 30 .', 'for the years ended december 31 , 2012 , 2011 and 2010 , employees purchased 1.4 million , 2.2 million and 2.7 million shares , respectively , at purchase prices of $ 34.52 and $ 42.96 , $ 30.56 and $ 35.61 , and $ 41.79 and $ 42.00 , respectively .', 'the company calculates the value of each employee stock option , estimated on the date of grant , using the black-scholes option pricing model .', 'the weighted-average estimated fair value of employee stock options granted during 2012 , 2011 and 2010 was $ 9.60 , $ 13.25 and $ 21.43 , respectively , using the following weighted-average assumptions: .']
Data Table:
----------------------------------------
| 2012 | 2011 | 2010
----------|----------|----------|----------
expected volatility | 24.0% ( 24.0 % ) | 28.8% ( 28.8 % ) | 41.7% ( 41.7 % )
risk-free interest rate | 0.8% ( 0.8 % ) | 2.1% ( 2.1 % ) | 2.1% ( 2.1 % )
dividend yield | 2.2% ( 2.2 % ) | 0.0% ( 0.0 % ) | 0.0% ( 0.0 % )
expected life ( years ) | 6.1 | 6.0 | 6.1
----------------------------------------
Post-table: ['the company uses the implied volatility for traded options on the company 2019s stock as the expected volatility assumption required in the black-scholes model .', 'the selection of the implied volatility approach was based upon the availability of actively traded options on the company 2019s stock and the company 2019s assessment that implied volatility is more representative of future stock price trends than historical volatility .', 'the risk-free interest rate assumption is based upon the average daily closing rates during the year for u.s .', 'treasury notes that have a life which approximates the expected life of the option .', 'the dividend yield assumption is based on the company 2019s future expectation of dividend payouts .', 'the expected life of employee stock options represents the average of the contractual term of the options and the weighted-average vesting period for all option tranches .', 'the company has applied forfeiture rates , estimated based on historical data , of 13%-50% ( 13%-50 % ) to the option fair values calculated by the black-scholes option pricing model .', 'these estimated forfeiture rates are applied to grants based on their remaining vesting term and may be revised in subsequent periods if actual forfeitures differ from these estimates. .'] | -0.27547 | MSI/2012/page_87.pdf-2 | ['defined contribution plan the company and certain subsidiaries have various defined contribution plans , in which all eligible employees may participate .', 'in the u.s. , the 401 ( k ) plan is a contributory plan .', 'matching contributions are based upon the amount of the employees 2019 contributions .', 'after temporarily suspending all matching contributions , effective july 1 , 2010 , the company reinstated matching contributions and provides a dollar for dollar ( 100% ( 100 % ) ) match on the first 4% ( 4 % ) of employee contributions .', 'the maximum matching contribution for 2010 was pro-rated to account for the number of months remaining after the reinstatement .', 'the company 2019s expenses for material defined contribution plans for the years ended december 31 , 2012 , 2011 and 2010 were $ 42 million , $ 48 million and $ 23 million , respectively .', 'beginning january 1 , 2012 , the company may make an additional discretionary 401 ( k ) plan matching contribution to eligible employees .', 'for the year ended december 31 , 2012 , the company made no discretionary matching contributions .', '8 .', 'share-based compensation plans and other incentive plans stock options , stock appreciation rights and employee stock purchase plan the company grants options to acquire shares of common stock to certain employees and to existing option holders of acquired companies in connection with the merging of option plans following an acquisition .', 'each option granted and stock appreciation right has an exercise price of no less than 100% ( 100 % ) of the fair market value of the common stock on the date of the grant .', 'the awards have a contractual life of five to ten years and vest over two to four years .', 'stock options and stock appreciation rights assumed or replaced with comparable stock options or stock appreciation rights in conjunction with a change in control of the company only become exercisable if the holder is also involuntarily terminated ( for a reason other than cause ) or quits for good reason within 24 months of a change in control .', 'the employee stock purchase plan allows eligible participants to purchase shares of the company 2019s common stock through payroll deductions of up to 20% ( 20 % ) of eligible compensation on an after-tax basis .', 'plan participants cannot purchase more than $ 25000 of stock in any calendar year .', 'the price an employee pays per share is 85% ( 85 % ) of the lower of the fair market value of the company 2019s stock on the close of the first trading day or last trading day of the purchase period .', 'the plan has two purchase periods , the first one from october 1 through march 31 and the second one from april 1 through september 30 .', 'for the years ended december 31 , 2012 , 2011 and 2010 , employees purchased 1.4 million , 2.2 million and 2.7 million shares , respectively , at purchase prices of $ 34.52 and $ 42.96 , $ 30.56 and $ 35.61 , and $ 41.79 and $ 42.00 , respectively .', 'the company calculates the value of each employee stock option , estimated on the date of grant , using the black-scholes option pricing model .', 'the weighted-average estimated fair value of employee stock options granted during 2012 , 2011 and 2010 was $ 9.60 , $ 13.25 and $ 21.43 , respectively , using the following weighted-average assumptions: .'] | ['the company uses the implied volatility for traded options on the company 2019s stock as the expected volatility assumption required in the black-scholes model .', 'the selection of the implied volatility approach was based upon the availability of actively traded options on the company 2019s stock and the company 2019s assessment that implied volatility is more representative of future stock price trends than historical volatility .', 'the risk-free interest rate assumption is based upon the average daily closing rates during the year for u.s .', 'treasury notes that have a life which approximates the expected life of the option .', 'the dividend yield assumption is based on the company 2019s future expectation of dividend payouts .', 'the expected life of employee stock options represents the average of the contractual term of the options and the weighted-average vesting period for all option tranches .', 'the company has applied forfeiture rates , estimated based on historical data , of 13%-50% ( 13%-50 % ) to the option fair values calculated by the black-scholes option pricing model .', 'these estimated forfeiture rates are applied to grants based on their remaining vesting term and may be revised in subsequent periods if actual forfeitures differ from these estimates. .'] | ----------------------------------------
| 2012 | 2011 | 2010
----------|----------|----------|----------
expected volatility | 24.0% ( 24.0 % ) | 28.8% ( 28.8 % ) | 41.7% ( 41.7 % )
risk-free interest rate | 0.8% ( 0.8 % ) | 2.1% ( 2.1 % ) | 2.1% ( 2.1 % )
dividend yield | 2.2% ( 2.2 % ) | 0.0% ( 0.0 % ) | 0.0% ( 0.0 % )
expected life ( years ) | 6.1 | 6.0 | 6.1
---------------------------------------- | subtract(9.60, 13.25), divide(#0, 13.25) | -0.27547 |
what is the par value of the redeemed preferred a units , in millions? | Context: ['kimco realty corporation and subsidiaries notes to consolidated financial statements , continued the units consisted of ( i ) approximately 81.8 million preferred a units par value $ 1.00 per unit , which pay the holder a return of 7.0% ( 7.0 % ) per annum on the preferred a par value and are redeemable for cash by the holder at any time after one year or callable by the company any time after six months and contain a promote feature based upon an increase in net operating income of the properties capped at a 10.0% ( 10.0 % ) increase , ( ii ) 2000 class a preferred units , par value $ 10000 per unit , which pay the holder a return equal to libor plus 2.0% ( 2.0 % ) per annum on the class a preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , ( iii ) 2627 class b-1 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-1 preferred par value and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock , equal to the cash redemption amount , as defined , ( iv ) 5673 class b-2 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-2 preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , and ( v ) 640001 class c downreit units , valued at an issuance price of $ 30.52 per unit which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock equal to the class c cash amount , as defined .', 'the following units have been redeemed as of december 31 , 2010 : redeemed par value redeemed ( in millions ) redemption type .']
Data Table:
----------------------------------------
• type, units redeemed, par value redeemed ( in millions ), redemption type
• preferred a units, 2200000, $ 2.2, cash
• class a preferred units, 2000, $ 20.0, cash
• class b-1 preferred units, 2438, $ 24.4, cash
• class b-2 preferred units, 5576, $ 55.8, cash/charitable contribution
• class c downreit units, 61804, $ 1.9, cash
----------------------------------------
Post-table: ['noncontrolling interest relating to the remaining units was $ 110.4 million and $ 113.1 million as of december 31 , 2010 and 2009 , respectively .', 'during 2006 , the company acquired two shopping center properties located in bay shore and centereach , ny .', 'included in noncontrolling interests was approximately $ 41.6 million , including a discount of $ 0.3 million and a fair market value adjustment of $ 3.8 million , in redeemable units ( the 201credeemable units 201d ) , issued by the company in connection with these transactions .', 'the prop- erties were acquired through the issuance of $ 24.2 million of redeemable units , which are redeemable at the option of the holder ; approximately $ 14.0 million of fixed rate redeemable units and the assumption of approximately $ 23.4 million of non-recourse debt .', 'the redeemable units consist of ( i ) 13963 class a units , par value $ 1000 per unit , which pay the holder a return of 5% ( 5 % ) per annum of the class a par value and are redeemable for cash by the holder at any time after april 3 , 2011 , or callable by the company any time after april 3 , 2016 , and ( ii ) 647758 class b units , valued at an issuance price of $ 37.24 per unit , which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after april 3 , 2007 , for cash or at the option of the company for common stock at a ratio of 1:1 , or callable by the company any time after april 3 , 2026 .', 'the company is restricted from disposing of these assets , other than through a tax free transaction , until april 2016 and april 2026 for the centereach , ny , and bay shore , ny , assets , respectively .', 'during 2007 , 30000 units , or $ 1.1 million par value , of theclass bunits were redeemed by the holder in cash at the option of the company .', 'noncontrolling interest relating to the units was $ 40.4 million and $ 40.3 million as of december 31 , 2010 and 2009 , respectively .', 'noncontrolling interests also includes 138015 convertible units issued during 2006 , by the company , which were valued at approxi- mately $ 5.3 million , including a fair market value adjustment of $ 0.3 million , related to an interest acquired in an office building located in albany , ny .', 'these units are redeemable at the option of the holder after one year for cash or at the option of the company for the company 2019s common stock at a ratio of 1:1 .', 'the holder is entitled to a distribution equal to the dividend rate of the company 2019s common stock .', 'the company is restricted from disposing of these assets , other than through a tax free transaction , until january 2017. .'] | 4.84 | KIM/2010/page_94.pdf-2 | ['kimco realty corporation and subsidiaries notes to consolidated financial statements , continued the units consisted of ( i ) approximately 81.8 million preferred a units par value $ 1.00 per unit , which pay the holder a return of 7.0% ( 7.0 % ) per annum on the preferred a par value and are redeemable for cash by the holder at any time after one year or callable by the company any time after six months and contain a promote feature based upon an increase in net operating income of the properties capped at a 10.0% ( 10.0 % ) increase , ( ii ) 2000 class a preferred units , par value $ 10000 per unit , which pay the holder a return equal to libor plus 2.0% ( 2.0 % ) per annum on the class a preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , ( iii ) 2627 class b-1 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-1 preferred par value and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock , equal to the cash redemption amount , as defined , ( iv ) 5673 class b-2 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-2 preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , and ( v ) 640001 class c downreit units , valued at an issuance price of $ 30.52 per unit which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock equal to the class c cash amount , as defined .', 'the following units have been redeemed as of december 31 , 2010 : redeemed par value redeemed ( in millions ) redemption type .'] | ['noncontrolling interest relating to the remaining units was $ 110.4 million and $ 113.1 million as of december 31 , 2010 and 2009 , respectively .', 'during 2006 , the company acquired two shopping center properties located in bay shore and centereach , ny .', 'included in noncontrolling interests was approximately $ 41.6 million , including a discount of $ 0.3 million and a fair market value adjustment of $ 3.8 million , in redeemable units ( the 201credeemable units 201d ) , issued by the company in connection with these transactions .', 'the prop- erties were acquired through the issuance of $ 24.2 million of redeemable units , which are redeemable at the option of the holder ; approximately $ 14.0 million of fixed rate redeemable units and the assumption of approximately $ 23.4 million of non-recourse debt .', 'the redeemable units consist of ( i ) 13963 class a units , par value $ 1000 per unit , which pay the holder a return of 5% ( 5 % ) per annum of the class a par value and are redeemable for cash by the holder at any time after april 3 , 2011 , or callable by the company any time after april 3 , 2016 , and ( ii ) 647758 class b units , valued at an issuance price of $ 37.24 per unit , which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after april 3 , 2007 , for cash or at the option of the company for common stock at a ratio of 1:1 , or callable by the company any time after april 3 , 2026 .', 'the company is restricted from disposing of these assets , other than through a tax free transaction , until april 2016 and april 2026 for the centereach , ny , and bay shore , ny , assets , respectively .', 'during 2007 , 30000 units , or $ 1.1 million par value , of theclass bunits were redeemed by the holder in cash at the option of the company .', 'noncontrolling interest relating to the units was $ 40.4 million and $ 40.3 million as of december 31 , 2010 and 2009 , respectively .', 'noncontrolling interests also includes 138015 convertible units issued during 2006 , by the company , which were valued at approxi- mately $ 5.3 million , including a fair market value adjustment of $ 0.3 million , related to an interest acquired in an office building located in albany , ny .', 'these units are redeemable at the option of the holder after one year for cash or at the option of the company for the company 2019s common stock at a ratio of 1:1 .', 'the holder is entitled to a distribution equal to the dividend rate of the company 2019s common stock .', 'the company is restricted from disposing of these assets , other than through a tax free transaction , until january 2017. .'] | ----------------------------------------
• type, units redeemed, par value redeemed ( in millions ), redemption type
• preferred a units, 2200000, $ 2.2, cash
• class a preferred units, 2000, $ 20.0, cash
• class b-1 preferred units, 2438, $ 24.4, cash
• class b-2 preferred units, 5576, $ 55.8, cash/charitable contribution
• class c downreit units, 61804, $ 1.9, cash
---------------------------------------- | multiply(2200000, 2.2), divide(#0, const_1000000) | 4.84 |
what is the average tax benefit , in millions? | Pre-text: ['14 .', 'stock compensation plans the following table summarizes stock-based compensation expense recognized in continuing operations in the consolidated statements of income in compensation and benefits ( in millions ) : .']
------
Table:
years ended december 31 | 2009 | 2008 | 2007
rsus | $ 124 | $ 132 | $ 109
performance plans | 60 | 67 | 54
stock options | 21 | 24 | 22
employee stock purchase plans | 4 | 3 | 3
total stock-based compensation expense | 209 | 226 | 188
tax benefit | 68 | 82 | 64
stock-based compensation expense net of tax | $ 141 | $ 144 | $ 124
------
Post-table: ['during 2009 , the company converted its stock administration system to a new service provider .', 'in connection with this conversion , a reconciliation of the methodologies and estimates utilized was performed , which resulted in a $ 12 million reduction of expense for the year ended december 31 , 2009 .', 'stock awards stock awards , in the form of rsus , are granted to certain employees and consist of both performance-based and service-based rsus .', 'service-based awards generally vest between three and ten years from the date of grant .', 'the fair value of service-based awards is based upon the market price of the underlying common stock at the date of grant .', 'with certain limited exceptions , any break in continuous employment will cause the forfeiture of all unvested awards .', 'compensation expense associated with stock awards is recognized over the service period using the straight-line method .', 'dividend equivalents are paid on certain service-based rsus , based on the initial grant amount .', 'at december 31 , 2009 , 2008 and 2007 , the number of shares available for stock awards is included with options available for grant .', 'performance-based rsus have been granted to certain employees .', 'vesting of these awards is contingent upon meeting various individual , divisional or company-wide performance conditions , including revenue generation or growth in revenue , pretax income or earnings per share over a one- to five-year period .', 'the performance conditions are not considered in the determination of the grant date fair value for these awards .', 'the fair value of performance-based awards is based upon the market price of the underlying common stock at the date of grant .', 'compensation expense is recognized over the performance period , and in certain cases an additional vesting period , based on management 2019s estimate of the number of units expected to vest .', 'compensation expense is adjusted to reflect the actual number of shares paid out at the end of the programs .', 'the payout of shares under these performance-based plans may range from 0-200% ( 0-200 % ) of the number of units granted , based on the plan .', 'dividend equivalents are generally not paid on the performance-based rsus .', 'during 2009 , the company granted approximately 2 million shares in connection with the completion of the 2006 leadership performance plan ( 2018 2018lpp 2019 2019 ) cycle .', 'during 2009 , 2008 and 2007 , the company granted approximately 3.7 million , 4.2 million and 4.3 million restricted shares , respectively , in connection with the company 2019s incentive compensation plans. .'] | 71.33333 | AON/2009/page_102.pdf-2 | ['14 .', 'stock compensation plans the following table summarizes stock-based compensation expense recognized in continuing operations in the consolidated statements of income in compensation and benefits ( in millions ) : .'] | ['during 2009 , the company converted its stock administration system to a new service provider .', 'in connection with this conversion , a reconciliation of the methodologies and estimates utilized was performed , which resulted in a $ 12 million reduction of expense for the year ended december 31 , 2009 .', 'stock awards stock awards , in the form of rsus , are granted to certain employees and consist of both performance-based and service-based rsus .', 'service-based awards generally vest between three and ten years from the date of grant .', 'the fair value of service-based awards is based upon the market price of the underlying common stock at the date of grant .', 'with certain limited exceptions , any break in continuous employment will cause the forfeiture of all unvested awards .', 'compensation expense associated with stock awards is recognized over the service period using the straight-line method .', 'dividend equivalents are paid on certain service-based rsus , based on the initial grant amount .', 'at december 31 , 2009 , 2008 and 2007 , the number of shares available for stock awards is included with options available for grant .', 'performance-based rsus have been granted to certain employees .', 'vesting of these awards is contingent upon meeting various individual , divisional or company-wide performance conditions , including revenue generation or growth in revenue , pretax income or earnings per share over a one- to five-year period .', 'the performance conditions are not considered in the determination of the grant date fair value for these awards .', 'the fair value of performance-based awards is based upon the market price of the underlying common stock at the date of grant .', 'compensation expense is recognized over the performance period , and in certain cases an additional vesting period , based on management 2019s estimate of the number of units expected to vest .', 'compensation expense is adjusted to reflect the actual number of shares paid out at the end of the programs .', 'the payout of shares under these performance-based plans may range from 0-200% ( 0-200 % ) of the number of units granted , based on the plan .', 'dividend equivalents are generally not paid on the performance-based rsus .', 'during 2009 , the company granted approximately 2 million shares in connection with the completion of the 2006 leadership performance plan ( 2018 2018lpp 2019 2019 ) cycle .', 'during 2009 , 2008 and 2007 , the company granted approximately 3.7 million , 4.2 million and 4.3 million restricted shares , respectively , in connection with the company 2019s incentive compensation plans. .'] | years ended december 31 | 2009 | 2008 | 2007
rsus | $ 124 | $ 132 | $ 109
performance plans | 60 | 67 | 54
stock options | 21 | 24 | 22
employee stock purchase plans | 4 | 3 | 3
total stock-based compensation expense | 209 | 226 | 188
tax benefit | 68 | 82 | 64
stock-based compensation expense net of tax | $ 141 | $ 144 | $ 124 | table_average(tax benefit, none) | 71.33333 |
by how much did asset retirement liability increase from 2005 to 2006? | Context: ['notes to consolidated financial statements ( continued ) note 1 2014summary of significant accounting policies ( continued ) present value is accreted over the life of the related lease as an operating expense .', 'all of the company 2019s existing asset retirement obligations are associated with commitments to return property subject to operating leases to original condition upon lease termination .', 'the following table reconciles changes in the company 2019s asset retirement liabilities for fiscal 2006 and 2005 ( in millions ) : .']
--
Tabular Data:
****************************************
Row 1: asset retirement liability as of september 25 2004, $ 8.2
Row 2: additional asset retirement obligations recognized, 2.8
Row 3: accretion recognized, 0.7
Row 4: asset retirement liability as of september 24 2005, $ 11.7
Row 5: additional asset retirement obligations recognized, 2.5
Row 6: accretion recognized, 0.5
Row 7: asset retirement liability as of september 30 2006, $ 14.7
****************************************
--
Post-table: ['long-lived assets including goodwill and other acquired intangible assets the company reviews property , plant , and equipment and certain identifiable intangibles , excluding goodwill , for impairment in accordance with sfas no .', '144 , accounting for the impairment of long-lived assets and for long-lived assets to be disposed of .', 'long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable .', 'recoverability of these assets is measured by comparison of its carrying amount to future undiscounted cash flows the assets are expected to generate .', 'if property , plant , and equipment and certain identifiable intangibles are considered to be impaired , the impairment to be recognized equals the amount by which the carrying value of the assets exceeds its fair market value .', 'for the three fiscal years ended september 30 , 2006 , the company had no material impairment of its long-lived assets , except for the impairment of certain assets in connection with the restructuring actions described in note 6 of these notes to consolidated financial statements .', 'sfas no .', '142 , goodwill and other intangible assets requires that goodwill and intangible assets with indefinite useful lives should not be amortized but rather be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that they may be impaired .', 'the company performs its goodwill impairment tests on or about august 30 of each year .', 'the company did not recognize any goodwill or intangible asset impairment charges in 2006 , 2005 , or 2004 .', 'the company established reporting units based on its current reporting structure .', 'for purposes of testing goodwill for impairment , goodwill has been allocated to these reporting units to the extent it relates to each reporting sfas no .', '142 also requires that intangible assets with definite lives be amortized over their estimated useful lives and reviewed for impairment in accordance with sfas no .', '144 .', 'the company is currently amortizing its acquired intangible assets with definite lives over periods ranging from 3 to 10 years .', 'foreign currency translation the company translates the assets and liabilities of its international non-u.s .', 'functional currency subsidiaries into u.s .', 'dollars using exchange rates in effect at the end of each period .', 'revenue and expenses for these subsidiaries are translated using rates that approximate those in effect during the period .', 'gains and losses from these translations are credited or charged to foreign currency translation .'] | 0.25641 | AAPL/2006/page_79.pdf-2 | ['notes to consolidated financial statements ( continued ) note 1 2014summary of significant accounting policies ( continued ) present value is accreted over the life of the related lease as an operating expense .', 'all of the company 2019s existing asset retirement obligations are associated with commitments to return property subject to operating leases to original condition upon lease termination .', 'the following table reconciles changes in the company 2019s asset retirement liabilities for fiscal 2006 and 2005 ( in millions ) : .'] | ['long-lived assets including goodwill and other acquired intangible assets the company reviews property , plant , and equipment and certain identifiable intangibles , excluding goodwill , for impairment in accordance with sfas no .', '144 , accounting for the impairment of long-lived assets and for long-lived assets to be disposed of .', 'long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable .', 'recoverability of these assets is measured by comparison of its carrying amount to future undiscounted cash flows the assets are expected to generate .', 'if property , plant , and equipment and certain identifiable intangibles are considered to be impaired , the impairment to be recognized equals the amount by which the carrying value of the assets exceeds its fair market value .', 'for the three fiscal years ended september 30 , 2006 , the company had no material impairment of its long-lived assets , except for the impairment of certain assets in connection with the restructuring actions described in note 6 of these notes to consolidated financial statements .', 'sfas no .', '142 , goodwill and other intangible assets requires that goodwill and intangible assets with indefinite useful lives should not be amortized but rather be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that they may be impaired .', 'the company performs its goodwill impairment tests on or about august 30 of each year .', 'the company did not recognize any goodwill or intangible asset impairment charges in 2006 , 2005 , or 2004 .', 'the company established reporting units based on its current reporting structure .', 'for purposes of testing goodwill for impairment , goodwill has been allocated to these reporting units to the extent it relates to each reporting sfas no .', '142 also requires that intangible assets with definite lives be amortized over their estimated useful lives and reviewed for impairment in accordance with sfas no .', '144 .', 'the company is currently amortizing its acquired intangible assets with definite lives over periods ranging from 3 to 10 years .', 'foreign currency translation the company translates the assets and liabilities of its international non-u.s .', 'functional currency subsidiaries into u.s .', 'dollars using exchange rates in effect at the end of each period .', 'revenue and expenses for these subsidiaries are translated using rates that approximate those in effect during the period .', 'gains and losses from these translations are credited or charged to foreign currency translation .'] | ****************************************
Row 1: asset retirement liability as of september 25 2004, $ 8.2
Row 2: additional asset retirement obligations recognized, 2.8
Row 3: accretion recognized, 0.7
Row 4: asset retirement liability as of september 24 2005, $ 11.7
Row 5: additional asset retirement obligations recognized, 2.5
Row 6: accretion recognized, 0.5
Row 7: asset retirement liability as of september 30 2006, $ 14.7
**************************************** | subtract(14.7, 11.7), divide(#0, 11.7) | 0.25641 |
what is the total percentage of unamortized discount relative to the principal amount of notes? | Context: ['table of contents as of september 25 , 2010 , the carrying amount of the original notes and related equity component ( recorded in capital in excess of par value , net of deferred taxes ) consisted of the following: .']
Table:
convertible notes principal amount | $ 1725000
unamortized discount | -277947 ( 277947 )
net carrying amount | $ 1447053
equity component net of taxes | $ 283638
Follow-up: ['as noted above , on november 18 , 2010 , the company executed separate , privately-negotiated exchange agreements , and the company retired $ 450.0 million in aggregate principal of its original notes for $ 450.0 million in aggregate principal of exchange notes .', 'the company accounted for this retirement under the derecognition provisions of subtopic asc 470-20-40 , which requires the allocation of the fair value of the consideration transferred ( i.e. , the exchange notes ) between the liability and equity components of the original instrument to determine the gain or loss on the transaction .', 'in connection with this transaction , the company recorded a loss on extinguishment of debt of $ 29.9 million , which is comprised of the loss on the debt itself of $ 26.0 million and the write-off of the pro-rata amount of debt issuance costs of $ 3.9 million allocated to the notes retired .', 'the loss on the debt itself is calculated as the difference between the fair value of the liability component of the original notes 2019 amount retired immediately before the exchange and its related carrying value immediately before the exchange .', 'the fair value of the liability component was calculated similar to the description above for initially recording the original notes under fsp apb 14-1 , and the company used an effective interest rate of 5.46% ( 5.46 % ) , representing the estimated nonconvertible debt borrowing rate with a three year maturity at the measurement date .', 'in addition , under this accounting standard , a portion of the fair value of the consideration transferred is allocated to the reacquisition of the equity component , which is the difference between the fair value of the consideration transferred and the fair value of the liability component immediately before the exchange .', 'as a result , $ 39.9 million was allocated to the reacquisition of the equity component of the original instrument , which is recorded net of deferred taxes within capital in excess of par value .', 'since the exchange notes have the same characteristics as the original notes and can be settled in cash or a combination of cash and shares of common stock ( i.e. , partial settlement ) , the company is required to account for the liability and equity components of its exchange notes separately to reflect its nonconvertible debt borrowing rate .', 'the company estimated the fair value of the exchange notes liability component to be $ 349.0 million using a discounted cash flow technique .', 'key inputs used to estimate the fair value of the liability component included the company 2019s estimated nonconvertible debt borrowing rate as of november 18 , 2010 ( the date the convertible notes were issued ) , the amount and timing of cash flows , and the expected life of the exchange notes .', 'the company used an estimated effective interest rate of 6.52% ( 6.52 % ) .', 'the excess of the fair value transferred over the estimated fair value of the liability component totaling $ 97.3 million was allocated to the conversion feature as an increase to capital in excess of par value with a corresponding offset recognized as a discount to reduce the net carrying value of the exchange notes .', 'as a result of the fair value of the exchange notes being lower than the exchange notes principal value , there is an additional discount on the exchange notes of $ 3.7 million at the measurement date .', 'the total discount is being amortized to interest expense over a six-year period ending december 15 , 2016 ( the expected life of the liability component ) using the effective interest method .', 'in addition , third-party transaction costs have been allocated to the liability and equity components based on the relative values of these components .', 'source : hologic inc , 10-k , november 23 , 2011 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .', 'the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .', 'past financial performance is no guarantee of future results. .'] | 0.16113 | HOLX/2011/page_127.pdf-1 | ['table of contents as of september 25 , 2010 , the carrying amount of the original notes and related equity component ( recorded in capital in excess of par value , net of deferred taxes ) consisted of the following: .'] | ['as noted above , on november 18 , 2010 , the company executed separate , privately-negotiated exchange agreements , and the company retired $ 450.0 million in aggregate principal of its original notes for $ 450.0 million in aggregate principal of exchange notes .', 'the company accounted for this retirement under the derecognition provisions of subtopic asc 470-20-40 , which requires the allocation of the fair value of the consideration transferred ( i.e. , the exchange notes ) between the liability and equity components of the original instrument to determine the gain or loss on the transaction .', 'in connection with this transaction , the company recorded a loss on extinguishment of debt of $ 29.9 million , which is comprised of the loss on the debt itself of $ 26.0 million and the write-off of the pro-rata amount of debt issuance costs of $ 3.9 million allocated to the notes retired .', 'the loss on the debt itself is calculated as the difference between the fair value of the liability component of the original notes 2019 amount retired immediately before the exchange and its related carrying value immediately before the exchange .', 'the fair value of the liability component was calculated similar to the description above for initially recording the original notes under fsp apb 14-1 , and the company used an effective interest rate of 5.46% ( 5.46 % ) , representing the estimated nonconvertible debt borrowing rate with a three year maturity at the measurement date .', 'in addition , under this accounting standard , a portion of the fair value of the consideration transferred is allocated to the reacquisition of the equity component , which is the difference between the fair value of the consideration transferred and the fair value of the liability component immediately before the exchange .', 'as a result , $ 39.9 million was allocated to the reacquisition of the equity component of the original instrument , which is recorded net of deferred taxes within capital in excess of par value .', 'since the exchange notes have the same characteristics as the original notes and can be settled in cash or a combination of cash and shares of common stock ( i.e. , partial settlement ) , the company is required to account for the liability and equity components of its exchange notes separately to reflect its nonconvertible debt borrowing rate .', 'the company estimated the fair value of the exchange notes liability component to be $ 349.0 million using a discounted cash flow technique .', 'key inputs used to estimate the fair value of the liability component included the company 2019s estimated nonconvertible debt borrowing rate as of november 18 , 2010 ( the date the convertible notes were issued ) , the amount and timing of cash flows , and the expected life of the exchange notes .', 'the company used an estimated effective interest rate of 6.52% ( 6.52 % ) .', 'the excess of the fair value transferred over the estimated fair value of the liability component totaling $ 97.3 million was allocated to the conversion feature as an increase to capital in excess of par value with a corresponding offset recognized as a discount to reduce the net carrying value of the exchange notes .', 'as a result of the fair value of the exchange notes being lower than the exchange notes principal value , there is an additional discount on the exchange notes of $ 3.7 million at the measurement date .', 'the total discount is being amortized to interest expense over a six-year period ending december 15 , 2016 ( the expected life of the liability component ) using the effective interest method .', 'in addition , third-party transaction costs have been allocated to the liability and equity components based on the relative values of these components .', 'source : hologic inc , 10-k , november 23 , 2011 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .', 'the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .', 'past financial performance is no guarantee of future results. .'] | convertible notes principal amount | $ 1725000
unamortized discount | -277947 ( 277947 )
net carrying amount | $ 1447053
equity component net of taxes | $ 283638 | divide(277947, 1725000) | 0.16113 |
what were 2012 total consolidated revenues in millions? | Context: ['international networks international networks generated revenues of $ 1637 million during 2012 , which represented 37% ( 37 % ) of our total consolidated revenues .', 'our international networks segment principally consists of national and pan-regional television networks .', 'this segment generates revenue from operations in virtually every pay-television market in the world through an infrastructure that includes operational centers in london , singapore and miami .', 'discovery channel , animal planet and tlc lead the international networks 2019 portfolio of television networks .', 'international networks has one of the largest international distribution platforms of networks with as many as fourteen networks in more than 200 countries and territories around the world .', 'at december 31 , 2012 , international networks operated over 180 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities .', 'international networks also has free-to-air networks in the u.k. , germany , italy and spain and continues to pursue international expansion .', 'our international networks segment owns and operates the following television networks which reached the following number of subscribers as of december 31 , 2012 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) .']
####
Table:
========================================
global networks discovery channel, internationalsubscribers ( millions ) 246, regional networks dmax, internationalsubscribers ( millions ) 90
animal planet, 183, discovery kids, 61
tlc real time and travel & living, 174, quest, 26
discovery science, 75, discovery history, 13
investigation discovery, 63, shed, 12
discovery home & health, 57, discovery en espanol ( u.s. ), 5
turbo, 42, discovery familia ( u.s ), 4
discovery world, 27, ,
========================================
####
Post-table: ['on december 21 , 2012 , our international networks segment acquired 20% ( 20 % ) equity ownership interests in eurosport , a european sports satellite and cable network , and a portfolio of pay television networks from tf1 , a french media company , for $ 264 million , including transaction costs .', 'we have a call right that enables us to purchase a controlling interest in eurosport starting december 2014 and for one year thereafter .', 'if we exercise our call right , tf1 will have the right to put its remaining interest to us for one year thereafter .', 'the arrangement is intended to increase the growth of eurosport , which focuses on niche but regionally popular sports such as tennis , skiing , cycling and skating , and enhance our pay television offerings in france .', "on december 28 , 2012 , we acquired switchover media , a group of five italian television channels with children's and entertainment programming .", '( see note 3 to the accompanying consolidated financial statements. ) education education generated revenues of $ 105 million during 2012 , which represented 2% ( 2 % ) of our total consolidated revenues .', 'education is comprised of curriculum-based product and service offerings .', 'this segment generates revenues primarily from subscriptions charged to k-12 schools for access to an online suite of curriculum-based vod tools , professional development services , digital textbooks and , to a lesser extent , student assessments and publication of hardcopy curriculum-based content .', 'our education business also participates in global brand and content licensing and engages in partnerships with leading non-profits , corporations , foundations and trade associations .', 'content development our content development strategy is designed to increase viewership , maintain innovation and quality leadership , and provide value for our network distributors and advertising customers .', 'our content is sourced from a wide range of third-party producers , which include some of the world 2019s leading nonfiction production companies as well as independent producers .', 'our production arrangements fall into three categories : produced , coproduced and licensed .', 'substantially all produced content includes content that we engage third parties to develop and produce , while we retain editorial control and own most or all of the rights , in exchange for paying all development and production costs .', 'coproduced content refers to program rights that we have collaborated with third parties to finance and develop because at times world-wide rights are not available for acquisition or we save costs by collaborating with third parties .', 'licensed content is comprised of films or series that have been previously produced by third parties. .'] | 5250.0 | DISCA/2012/page_39.pdf-3 | ['international networks international networks generated revenues of $ 1637 million during 2012 , which represented 37% ( 37 % ) of our total consolidated revenues .', 'our international networks segment principally consists of national and pan-regional television networks .', 'this segment generates revenue from operations in virtually every pay-television market in the world through an infrastructure that includes operational centers in london , singapore and miami .', 'discovery channel , animal planet and tlc lead the international networks 2019 portfolio of television networks .', 'international networks has one of the largest international distribution platforms of networks with as many as fourteen networks in more than 200 countries and territories around the world .', 'at december 31 , 2012 , international networks operated over 180 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities .', 'international networks also has free-to-air networks in the u.k. , germany , italy and spain and continues to pursue international expansion .', 'our international networks segment owns and operates the following television networks which reached the following number of subscribers as of december 31 , 2012 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) .'] | ['on december 21 , 2012 , our international networks segment acquired 20% ( 20 % ) equity ownership interests in eurosport , a european sports satellite and cable network , and a portfolio of pay television networks from tf1 , a french media company , for $ 264 million , including transaction costs .', 'we have a call right that enables us to purchase a controlling interest in eurosport starting december 2014 and for one year thereafter .', 'if we exercise our call right , tf1 will have the right to put its remaining interest to us for one year thereafter .', 'the arrangement is intended to increase the growth of eurosport , which focuses on niche but regionally popular sports such as tennis , skiing , cycling and skating , and enhance our pay television offerings in france .', "on december 28 , 2012 , we acquired switchover media , a group of five italian television channels with children's and entertainment programming .", '( see note 3 to the accompanying consolidated financial statements. ) education education generated revenues of $ 105 million during 2012 , which represented 2% ( 2 % ) of our total consolidated revenues .', 'education is comprised of curriculum-based product and service offerings .', 'this segment generates revenues primarily from subscriptions charged to k-12 schools for access to an online suite of curriculum-based vod tools , professional development services , digital textbooks and , to a lesser extent , student assessments and publication of hardcopy curriculum-based content .', 'our education business also participates in global brand and content licensing and engages in partnerships with leading non-profits , corporations , foundations and trade associations .', 'content development our content development strategy is designed to increase viewership , maintain innovation and quality leadership , and provide value for our network distributors and advertising customers .', 'our content is sourced from a wide range of third-party producers , which include some of the world 2019s leading nonfiction production companies as well as independent producers .', 'our production arrangements fall into three categories : produced , coproduced and licensed .', 'substantially all produced content includes content that we engage third parties to develop and produce , while we retain editorial control and own most or all of the rights , in exchange for paying all development and production costs .', 'coproduced content refers to program rights that we have collaborated with third parties to finance and develop because at times world-wide rights are not available for acquisition or we save costs by collaborating with third parties .', 'licensed content is comprised of films or series that have been previously produced by third parties. .'] | ========================================
global networks discovery channel, internationalsubscribers ( millions ) 246, regional networks dmax, internationalsubscribers ( millions ) 90
animal planet, 183, discovery kids, 61
tlc real time and travel & living, 174, quest, 26
discovery science, 75, discovery history, 13
investigation discovery, 63, shed, 12
discovery home & health, 57, discovery en espanol ( u.s. ), 5
turbo, 42, discovery familia ( u.s ), 4
discovery world, 27, ,
======================================== | divide(105, 2%) | 5250.0 |
what was the decrease in rental expense ( millions ) for operating leases in continuing operations from 2003 to 2003? | Pre-text: ['the contracts were valued as of april 1 , 2002 , and an asset and a corresponding gain of $ 127 million , net of income taxes , was recorded as a cumulative effect of a change in accounting principle in the second quarter of 2002 .', 'the majority of the gain recorded relates to the warrior run contract , as the asset value of the deepwater contract on april 1 , 2002 , was less than $ 1 million .', 'the warrior run contract qualifies and was designated as a cash flow hedge as defined by sfas no .', '133 and hedge accounting is applied for this contract subsequent to april 1 , 2002 .', 'the contract valuations were performed using current forward electricity and gas price quotes and current market data for other contract variables .', 'the forward curves used to value the contracts include certain assumptions , including projections of future electricity and gas prices in periods where future prices are not quoted .', 'fluctuations in market prices and their impact on the assumptions will cause the value of these contracts to change .', 'such fluctuations will increase the volatility of the company 2019s reported results of operations .', '11 .', 'commitments , contingencies and risks operating leases 2014as of december 31 , 2002 , the company was obligated under long-term non-cancelable operating leases , primarily for office rental and site leases .', 'rental expense for operating leases , excluding amounts related to the sale/leaseback discussed below , was $ 31 million $ 32 million and $ 13 million in the years ended december 31 , 2002 , 2001and 2000 , respectively , including commitments of businesses classified as discontinued amounting to $ 6 million in 2002 , $ 16 million in 2001 and $ 6 million in 2000 .', 'the future minimum lease commitments under these leases are as follows ( in millions ) : discontinued total operations .']
##
Data Table:
****************************************
| total | discontinued operations
----------|----------|----------
2003 | $ 30 | $ 4
2004 | 20 | 4
2005 | 15 | 3
2006 | 11 | 1
2007 | 9 | 1
thereafter | 84 | 1
total | $ 169 | $ 14
****************************************
##
Follow-up: ['sale/leaseback 2014in may 1999 , a subsidiary of the company acquired six electric generating stations from new york state electric and gas ( 2018 2018nyseg 2019 2019 ) .', 'concurrently , the subsidiary sold two of the plants to an unrelated third party for $ 666 million and simultaneously entered into a leasing arrangement with the unrelated party .', 'this transaction has been accounted for as a sale/leaseback with operating lease treatment .', 'rental expense was $ 54 million , $ 58 million and $ 54 million in 2002 , 2001 and 2000 , respectively .', 'future minimum lease commitments are as follows ( in millions ) : in connection with the lease of the two power plants , the subsidiary is required to maintain a rent reserve account equal to the maximum semi-annual payment with respect to the sum of the basic rent ( other then deferrable basic rent ) and fixed charges expected to become due in the immediately succeeding three-year period .', 'at december 31 , 2002 , 2001 and 2000 , the amount deposited in the rent reserve account approximated .'] | 1.0 | AES/2002/page_128.pdf-2 | ['the contracts were valued as of april 1 , 2002 , and an asset and a corresponding gain of $ 127 million , net of income taxes , was recorded as a cumulative effect of a change in accounting principle in the second quarter of 2002 .', 'the majority of the gain recorded relates to the warrior run contract , as the asset value of the deepwater contract on april 1 , 2002 , was less than $ 1 million .', 'the warrior run contract qualifies and was designated as a cash flow hedge as defined by sfas no .', '133 and hedge accounting is applied for this contract subsequent to april 1 , 2002 .', 'the contract valuations were performed using current forward electricity and gas price quotes and current market data for other contract variables .', 'the forward curves used to value the contracts include certain assumptions , including projections of future electricity and gas prices in periods where future prices are not quoted .', 'fluctuations in market prices and their impact on the assumptions will cause the value of these contracts to change .', 'such fluctuations will increase the volatility of the company 2019s reported results of operations .', '11 .', 'commitments , contingencies and risks operating leases 2014as of december 31 , 2002 , the company was obligated under long-term non-cancelable operating leases , primarily for office rental and site leases .', 'rental expense for operating leases , excluding amounts related to the sale/leaseback discussed below , was $ 31 million $ 32 million and $ 13 million in the years ended december 31 , 2002 , 2001and 2000 , respectively , including commitments of businesses classified as discontinued amounting to $ 6 million in 2002 , $ 16 million in 2001 and $ 6 million in 2000 .', 'the future minimum lease commitments under these leases are as follows ( in millions ) : discontinued total operations .'] | ['sale/leaseback 2014in may 1999 , a subsidiary of the company acquired six electric generating stations from new york state electric and gas ( 2018 2018nyseg 2019 2019 ) .', 'concurrently , the subsidiary sold two of the plants to an unrelated third party for $ 666 million and simultaneously entered into a leasing arrangement with the unrelated party .', 'this transaction has been accounted for as a sale/leaseback with operating lease treatment .', 'rental expense was $ 54 million , $ 58 million and $ 54 million in 2002 , 2001 and 2000 , respectively .', 'future minimum lease commitments are as follows ( in millions ) : in connection with the lease of the two power plants , the subsidiary is required to maintain a rent reserve account equal to the maximum semi-annual payment with respect to the sum of the basic rent ( other then deferrable basic rent ) and fixed charges expected to become due in the immediately succeeding three-year period .', 'at december 31 , 2002 , 2001 and 2000 , the amount deposited in the rent reserve account approximated .'] | ****************************************
| total | discontinued operations
----------|----------|----------
2003 | $ 30 | $ 4
2004 | 20 | 4
2005 | 15 | 3
2006 | 11 | 1
2007 | 9 | 1
thereafter | 84 | 1
total | $ 169 | $ 14
**************************************** | subtract(31, 30) | 1.0 |
what is the total fair value of the total restricted stock units outstanding at october 31 , 2015? | Context: ['analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) a summary of the company 2019s restricted stock unit award activity as of october 31 , 2015 and changes during the fiscal year then ended is presented below : restricted stock units outstanding ( in thousands ) weighted- average grant- date fair value per share .']
Data Table:
========================================
• , restrictedstock unitsoutstanding ( in thousands ), weighted-average grant-date fair valueper share
• restricted stock units outstanding at november 1 2014, 3188, $ 43.46
• units granted, 818, $ 52.25
• restrictions lapsed, -1151 ( 1151 ), $ 39.72
• forfeited, -157 ( 157 ), $ 45.80
• restricted stock units outstanding at october 31 2015, 2698, $ 47.59
========================================
Additional Information: ['as of october 31 , 2015 , there was $ 108.8 million of total unrecognized compensation cost related to unvested share- based awards comprised of stock options and restricted stock units .', 'that cost is expected to be recognized over a weighted- average period of 1.3 years .', 'the total grant-date fair value of shares that vested during fiscal 2015 , 2014 and 2013 was approximately $ 65.6 million , $ 57.4 million and $ 63.9 million , respectively .', 'common stock repurchase program the company 2019s common stock repurchase program has been in place since august 2004 .', 'in the aggregate , the board of directors have authorized the company to repurchase $ 5.6 billion of the company 2019s common stock under the program .', 'under the program , the company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions .', 'unless terminated earlier by resolution of the company 2019s board of directors , the repurchase program will expire when the company has repurchased all shares authorized under the program .', 'as of october 31 , 2015 , the company had repurchased a total of approximately 140.7 million shares of its common stock for approximately $ 5.0 billion under this program .', 'an additional $ 544.5 million remains available for repurchase of shares under the current authorized program .', 'the repurchased shares are held as authorized but unissued shares of common stock .', 'the company also , from time to time , repurchases shares in settlement of employee minimum tax withholding obligations due upon the vesting of restricted stock units or the exercise of stock options .', 'the withholding amount is based on the employees minimum statutory withholding requirement .', "any future common stock repurchases will be dependent upon several factors , including the company's financial performance , outlook , liquidity and the amount of cash the company has available in the united states .", 'preferred stock the company has 471934 authorized shares of $ 1.00 par value preferred stock , none of which is issued or outstanding .', 'the board of directors is authorized to fix designations , relative rights , preferences and limitations on the preferred stock at the time of issuance .', '4 .', 'industry , segment and geographic information the company operates and tracks its results in one reportable segment based on the aggregation of six operating segments .', 'the company designs , develops , manufactures and markets a broad range of integrated circuits ( ics ) .', "the chief executive officer has been identified as the company's chief operating decision maker .", "the company has determined that all of the company's operating segments share the following similar economic characteristics , and therefore meet the criteria established for operating segments to be aggregated into one reportable segment , namely : 2022 the primary source of revenue for each operating segment is the sale of integrated circuits .", "2022 the integrated circuits sold by each of the company's operating segments are manufactured using similar semiconductor manufacturing processes and raw materials in either the company 2019s own production facilities or by third-party wafer fabricators using proprietary processes .", '2022 the company sells its products to tens of thousands of customers worldwide .', 'many of these customers use products spanning all operating segments in a wide range of applications .', "2022 the integrated circuits marketed by each of the company's operating segments are sold globally through a direct sales force , third-party distributors , independent sales representatives and via our website to the same types of customers .", "all of the company's operating segments share a similar long-term financial model as they have similar economic characteristics .", "the causes for variation in operating and financial performance are the same among the company's operating segments and include factors such as ( i ) life cycle and price and cost fluctuations , ( ii ) number of competitors , ( iii ) product ."] | 56.69258 | ADI/2015/page_72.pdf-1 | ['analog devices , inc .', 'notes to consolidated financial statements 2014 ( continued ) a summary of the company 2019s restricted stock unit award activity as of october 31 , 2015 and changes during the fiscal year then ended is presented below : restricted stock units outstanding ( in thousands ) weighted- average grant- date fair value per share .'] | ['as of october 31 , 2015 , there was $ 108.8 million of total unrecognized compensation cost related to unvested share- based awards comprised of stock options and restricted stock units .', 'that cost is expected to be recognized over a weighted- average period of 1.3 years .', 'the total grant-date fair value of shares that vested during fiscal 2015 , 2014 and 2013 was approximately $ 65.6 million , $ 57.4 million and $ 63.9 million , respectively .', 'common stock repurchase program the company 2019s common stock repurchase program has been in place since august 2004 .', 'in the aggregate , the board of directors have authorized the company to repurchase $ 5.6 billion of the company 2019s common stock under the program .', 'under the program , the company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions .', 'unless terminated earlier by resolution of the company 2019s board of directors , the repurchase program will expire when the company has repurchased all shares authorized under the program .', 'as of october 31 , 2015 , the company had repurchased a total of approximately 140.7 million shares of its common stock for approximately $ 5.0 billion under this program .', 'an additional $ 544.5 million remains available for repurchase of shares under the current authorized program .', 'the repurchased shares are held as authorized but unissued shares of common stock .', 'the company also , from time to time , repurchases shares in settlement of employee minimum tax withholding obligations due upon the vesting of restricted stock units or the exercise of stock options .', 'the withholding amount is based on the employees minimum statutory withholding requirement .', "any future common stock repurchases will be dependent upon several factors , including the company's financial performance , outlook , liquidity and the amount of cash the company has available in the united states .", 'preferred stock the company has 471934 authorized shares of $ 1.00 par value preferred stock , none of which is issued or outstanding .', 'the board of directors is authorized to fix designations , relative rights , preferences and limitations on the preferred stock at the time of issuance .', '4 .', 'industry , segment and geographic information the company operates and tracks its results in one reportable segment based on the aggregation of six operating segments .', 'the company designs , develops , manufactures and markets a broad range of integrated circuits ( ics ) .', "the chief executive officer has been identified as the company's chief operating decision maker .", "the company has determined that all of the company's operating segments share the following similar economic characteristics , and therefore meet the criteria established for operating segments to be aggregated into one reportable segment , namely : 2022 the primary source of revenue for each operating segment is the sale of integrated circuits .", "2022 the integrated circuits sold by each of the company's operating segments are manufactured using similar semiconductor manufacturing processes and raw materials in either the company 2019s own production facilities or by third-party wafer fabricators using proprietary processes .", '2022 the company sells its products to tens of thousands of customers worldwide .', 'many of these customers use products spanning all operating segments in a wide range of applications .', "2022 the integrated circuits marketed by each of the company's operating segments are sold globally through a direct sales force , third-party distributors , independent sales representatives and via our website to the same types of customers .", "all of the company's operating segments share a similar long-term financial model as they have similar economic characteristics .", "the causes for variation in operating and financial performance are the same among the company's operating segments and include factors such as ( i ) life cycle and price and cost fluctuations , ( ii ) number of competitors , ( iii ) product ."] | ========================================
• , restrictedstock unitsoutstanding ( in thousands ), weighted-average grant-date fair valueper share
• restricted stock units outstanding at november 1 2014, 3188, $ 43.46
• units granted, 818, $ 52.25
• restrictions lapsed, -1151 ( 1151 ), $ 39.72
• forfeited, -157 ( 157 ), $ 45.80
• restricted stock units outstanding at october 31 2015, 2698, $ 47.59
======================================== | divide(2698, 47.59) | 56.69258 |
what was the change in the allowance for doubtful accounts in 2012 | Pre-text: ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) high quality financial institutions .', 'such balances may be in excess of fdic insured limits .', 'to manage the related credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .', 'concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .', 'we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico .', 'we perform ongoing credit evaluations of our customers , but do not require collateral to support customer receivables .', 'we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .', 'no customer exceeded 5% ( 5 % ) of our outstanding accounts receivable balance at december 31 , 2012 and 2011 .', 'accounts receivable , net of allowance for doubtful accounts accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services .', 'our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .', 'the carrying value of our receivables , net of the allowance for doubtful accounts , represents their estimated net realizable value .', 'provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .', 'we also review outstanding balances on an account-specific basis .', 'in general , reserves are provided for accounts receivable in excess of ninety days old .', 'past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31 , 2012 , 2011 and 2010: .']
##
Data Table:
2012 2011 2010
balance at beginning of year $ 48.1 $ 50.9 $ 55.2
additions charged to expense 29.7 21.0 23.6
accounts written-off -32.5 ( 32.5 ) -23.8 ( 23.8 ) -27.9 ( 27.9 )
balance at end of year $ 45.3 $ 48.1 $ 50.9
##
Follow-up: ['restricted cash and marketable securities as of december 31 , 2012 , we had $ 164.2 million of restricted cash and marketable securities .', 'we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers .', 'the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance .', 'as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets .', 'in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance .', 'at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts. .'] | -2.8 | RSG/2012/page_93.pdf-1 | ['republic services , inc .', 'notes to consolidated financial statements 2014 ( continued ) high quality financial institutions .', 'such balances may be in excess of fdic insured limits .', 'to manage the related credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits .', 'concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas .', 'we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico .', 'we perform ongoing credit evaluations of our customers , but do not require collateral to support customer receivables .', 'we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information .', 'no customer exceeded 5% ( 5 % ) of our outstanding accounts receivable balance at december 31 , 2012 and 2011 .', 'accounts receivable , net of allowance for doubtful accounts accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services .', 'our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash .', 'the carrying value of our receivables , net of the allowance for doubtful accounts , represents their estimated net realizable value .', 'provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions .', 'we also review outstanding balances on an account-specific basis .', 'in general , reserves are provided for accounts receivable in excess of ninety days old .', 'past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31 , 2012 , 2011 and 2010: .'] | ['restricted cash and marketable securities as of december 31 , 2012 , we had $ 164.2 million of restricted cash and marketable securities .', 'we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers .', 'the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance .', 'as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets .', 'in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance .', 'at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts. .'] | 2012 2011 2010
balance at beginning of year $ 48.1 $ 50.9 $ 55.2
additions charged to expense 29.7 21.0 23.6
accounts written-off -32.5 ( 32.5 ) -23.8 ( 23.8 ) -27.9 ( 27.9 )
balance at end of year $ 45.3 $ 48.1 $ 50.9 | subtract(45.3, 48.1) | -2.8 |
what is the one-percentage-point increase of effect on total of service and interest cost components as a percentage of the effect on other postretirement benefit obligation? | Background: ['coupons and expected maturity values of individually selected bonds .', 'the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) .', 'historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments .', 'the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios .', 'assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes .', 'based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets .', 'the company 2019s pension expense increases as the expected return on assets decreases .', 'assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans .', 'the health care cost trend rate is based on historical rates and expected market conditions .', 'a one-percentage-point change in assumed health care cost trend rates would have the following effects : percentage- increase percentage- decrease .']
######
Tabular Data:
| one-percentage-pointincrease | one-percentage-pointdecrease
effect on total of service and interest cost components | $ 7367 | $ -5974 ( 5974 )
effect on other postretirement benefit obligation | $ 72238 | $ -60261 ( 60261 )
######
Post-table: ['.'] | 0.10198 | AWK/2013/page_132.pdf-3 | ['coupons and expected maturity values of individually selected bonds .', 'the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) .', 'historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments .', 'the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios .', 'assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes .', 'based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets .', 'the company 2019s pension expense increases as the expected return on assets decreases .', 'assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans .', 'the health care cost trend rate is based on historical rates and expected market conditions .', 'a one-percentage-point change in assumed health care cost trend rates would have the following effects : percentage- increase percentage- decrease .'] | ['.'] | | one-percentage-pointincrease | one-percentage-pointdecrease
effect on total of service and interest cost components | $ 7367 | $ -5974 ( 5974 )
effect on other postretirement benefit obligation | $ 72238 | $ -60261 ( 60261 ) | divide(7367, 72238) | 0.10198 |
what is the number of shares outstanding based on the cash dividends paid during 2006 , in millions? | Context: ['page 31 of 94 other liquidity items cash payments required for long-term debt maturities , rental payments under noncancellable operating leases , purchase obligations and other commitments in effect at december 31 , 2007 , are summarized in the following table: .']
----
Data Table:
****************************************
• ( $ in millions ), payments due by period ( a ) total, payments due by period ( a ) less than 1 year, payments due by period ( a ) 1-3 years, payments due by period ( a ) 3-5 years, payments due by period ( a ) more than 5 years
• long-term debt, $ 2302.6, $ 126.1, $ 547.6, $ 1174.9, $ 454.0
• capital lease obligations, 4.4, 1.0, 0.8, 0.5, 2.1
• interest payments on long-term debt ( b ), 698.6, 142.9, 246.3, 152.5, 156.9
• operating leases, 218.5, 49.9, 71.7, 42.5, 54.4
• purchase obligations ( c ), 6092.6, 2397.2, 3118.8, 576.6, 2013
• common stock repurchase agreements, 131.0, 131.0, 2013, 2013, 2013
• legal settlement, 70.0, 70.0, 2013, 2013, 2013
• total payments on contractual obligations, $ 9517.7, $ 2918.1, $ 3985.2, $ 1947.0, $ 667.4
****************************************
----
Follow-up: ['total payments on contractual obligations $ 9517.7 $ 2918.1 $ 3985.2 $ 1947.0 $ 667.4 ( a ) amounts reported in local currencies have been translated at the year-end exchange rates .', '( b ) for variable rate facilities , amounts are based on interest rates in effect at year end and do not contemplate the effects of hedging instruments .', '( c ) the company 2019s purchase obligations include contracted amounts for aluminum , steel , plastic resin and other direct materials .', 'also included are commitments for purchases of natural gas and electricity , aerospace and technologies contracts and other less significant items .', 'in cases where variable prices and/or usage are involved , management 2019s best estimates have been used .', 'depending on the circumstances , early termination of the contracts may not result in penalties and , therefore , actual payments could vary significantly .', 'contributions to the company 2019s defined benefit pension plans , not including the unfunded german plans , are expected to be $ 49 million in 2008 .', 'this estimate may change based on plan asset performance .', 'benefit payments related to these plans are expected to be $ 66 million , $ 70 million , $ 74 million , $ 77 million and $ 82 million for the years ending december 31 , 2008 through 2012 , respectively , and a total of $ 473 million for the years 2013 through 2017 .', 'payments to participants in the unfunded german plans are expected to be approximately $ 26 million in each of the years 2008 through 2012 and a total of $ 136 million for the years 2013 through 2017 .', 'in accordance with united kingdom pension regulations , ball has provided an a38 million guarantee to the plan for its defined benefit plan in the united kingdom .', 'if the company 2019s credit rating falls below specified levels , ball will be required to either : ( 1 ) contribute an additional a38 million to the plan ; ( 2 ) provide a letter of credit to the plan in that amount or ( 3 ) if imposed by the appropriate regulatory agency , provide a lien on company assets in that amount for the benefit of the plan .', 'the guarantee can be removed upon approval by both ball and the pension plan trustees .', 'our share repurchase program in 2007 was $ 211.3 million , net of issuances , compared to $ 45.7 million net repurchases in 2006 and $ 358.1 million in 2005 .', 'the net repurchases included the $ 51.9 million settlement on january 5 , 2007 , of a forward contract entered into in december 2006 for the repurchase of 1200000 shares .', 'however , the 2007 net repurchases did not include a forward contract entered into in december 2007 for the repurchase of 675000 shares .', 'the contract was settled on january 7 , 2008 , for $ 31 million in cash .', 'on december 12 , 2007 , in a privately negotiated transaction , ball entered into an accelerated share repurchase agreement to buy $ 100 million of its common shares using cash on hand and available borrowings .', 'the company advanced the $ 100 million on january 7 , 2008 , and received approximately 2 million shares , which represented 90 percent of the total shares as calculated using the previous day 2019s closing price .', 'the exact number of shares to be repurchased under the agreement , which will be determined on the settlement date ( no later than june 5 , 2008 ) , is subject to an adjustment based on a weighted average price calculation for the period between the initial purchase date and the settlement date .', 'the company has the option to settle the contract in either cash or shares .', 'including the settlements of the forward share purchase contract and the accelerated share repurchase agreement , we expect to repurchase approximately $ 300 million of our common shares , net of issuances , in 2008 .', 'annual cash dividends paid on common stock were 40 cents per share in 2007 , 2006 and 2005 .', 'total dividends paid were $ 40.6 million in 2007 , $ 41 million in 2006 and $ 42.5 million in 2005. .'] | 102.5 | BLL/2007/page_47.pdf-4 | ['page 31 of 94 other liquidity items cash payments required for long-term debt maturities , rental payments under noncancellable operating leases , purchase obligations and other commitments in effect at december 31 , 2007 , are summarized in the following table: .'] | ['total payments on contractual obligations $ 9517.7 $ 2918.1 $ 3985.2 $ 1947.0 $ 667.4 ( a ) amounts reported in local currencies have been translated at the year-end exchange rates .', '( b ) for variable rate facilities , amounts are based on interest rates in effect at year end and do not contemplate the effects of hedging instruments .', '( c ) the company 2019s purchase obligations include contracted amounts for aluminum , steel , plastic resin and other direct materials .', 'also included are commitments for purchases of natural gas and electricity , aerospace and technologies contracts and other less significant items .', 'in cases where variable prices and/or usage are involved , management 2019s best estimates have been used .', 'depending on the circumstances , early termination of the contracts may not result in penalties and , therefore , actual payments could vary significantly .', 'contributions to the company 2019s defined benefit pension plans , not including the unfunded german plans , are expected to be $ 49 million in 2008 .', 'this estimate may change based on plan asset performance .', 'benefit payments related to these plans are expected to be $ 66 million , $ 70 million , $ 74 million , $ 77 million and $ 82 million for the years ending december 31 , 2008 through 2012 , respectively , and a total of $ 473 million for the years 2013 through 2017 .', 'payments to participants in the unfunded german plans are expected to be approximately $ 26 million in each of the years 2008 through 2012 and a total of $ 136 million for the years 2013 through 2017 .', 'in accordance with united kingdom pension regulations , ball has provided an a38 million guarantee to the plan for its defined benefit plan in the united kingdom .', 'if the company 2019s credit rating falls below specified levels , ball will be required to either : ( 1 ) contribute an additional a38 million to the plan ; ( 2 ) provide a letter of credit to the plan in that amount or ( 3 ) if imposed by the appropriate regulatory agency , provide a lien on company assets in that amount for the benefit of the plan .', 'the guarantee can be removed upon approval by both ball and the pension plan trustees .', 'our share repurchase program in 2007 was $ 211.3 million , net of issuances , compared to $ 45.7 million net repurchases in 2006 and $ 358.1 million in 2005 .', 'the net repurchases included the $ 51.9 million settlement on january 5 , 2007 , of a forward contract entered into in december 2006 for the repurchase of 1200000 shares .', 'however , the 2007 net repurchases did not include a forward contract entered into in december 2007 for the repurchase of 675000 shares .', 'the contract was settled on january 7 , 2008 , for $ 31 million in cash .', 'on december 12 , 2007 , in a privately negotiated transaction , ball entered into an accelerated share repurchase agreement to buy $ 100 million of its common shares using cash on hand and available borrowings .', 'the company advanced the $ 100 million on january 7 , 2008 , and received approximately 2 million shares , which represented 90 percent of the total shares as calculated using the previous day 2019s closing price .', 'the exact number of shares to be repurchased under the agreement , which will be determined on the settlement date ( no later than june 5 , 2008 ) , is subject to an adjustment based on a weighted average price calculation for the period between the initial purchase date and the settlement date .', 'the company has the option to settle the contract in either cash or shares .', 'including the settlements of the forward share purchase contract and the accelerated share repurchase agreement , we expect to repurchase approximately $ 300 million of our common shares , net of issuances , in 2008 .', 'annual cash dividends paid on common stock were 40 cents per share in 2007 , 2006 and 2005 .', 'total dividends paid were $ 40.6 million in 2007 , $ 41 million in 2006 and $ 42.5 million in 2005. .'] | ****************************************
• ( $ in millions ), payments due by period ( a ) total, payments due by period ( a ) less than 1 year, payments due by period ( a ) 1-3 years, payments due by period ( a ) 3-5 years, payments due by period ( a ) more than 5 years
• long-term debt, $ 2302.6, $ 126.1, $ 547.6, $ 1174.9, $ 454.0
• capital lease obligations, 4.4, 1.0, 0.8, 0.5, 2.1
• interest payments on long-term debt ( b ), 698.6, 142.9, 246.3, 152.5, 156.9
• operating leases, 218.5, 49.9, 71.7, 42.5, 54.4
• purchase obligations ( c ), 6092.6, 2397.2, 3118.8, 576.6, 2013
• common stock repurchase agreements, 131.0, 131.0, 2013, 2013, 2013
• legal settlement, 70.0, 70.0, 2013, 2013, 2013
• total payments on contractual obligations, $ 9517.7, $ 2918.1, $ 3985.2, $ 1947.0, $ 667.4
**************************************** | divide(40, const_100), divide(41, #0) | 102.5 |
what portion of the securities approved by security holders remains available for future issuance? | Context: ['the goldman sachs group , inc .', 'and subsidiaries item 9 .', 'changes in and disagreements with accountants on accounting and financial disclosure there were no changes in or disagreements with accountants on accounting and financial disclosure during the last two years .', 'item 9a .', 'controls and procedures as of the end of the period covered by this report , an evaluation was carried out by goldman sachs 2019 management , with the participation of our chief executive officer and chief financial officer , of the effectiveness of our disclosure controls and procedures ( as defined in rule 13a-15 ( e ) under the exchange act ) .', 'based upon that evaluation , our chief executive officer and chief financial officer concluded that these disclosure controls and procedures were effective as of the end of the period covered by this report .', 'in addition , no change in our internal control over financial reporting ( as defined in rule 13a-15 ( f ) under the exchange act ) occurred during the fourth quarter of our year ended december 31 , 2018 that has materially affected , or is reasonably likely to materially affect , our internal control over financial reporting .', 'management 2019s report on internal control over financial reporting and the report of independent registered public accounting firm are set forth in part ii , item 8 of this form 10-k .', 'item 9b .', 'other information not applicable .', 'part iii item 10 .', 'directors , executive officers and corporate governance information relating to our executive officers is included on page 20 of this form 10-k .', 'information relating to our directors , including our audit committee and audit committee financial experts and the procedures by which shareholders can recommend director nominees , and our executive officers will be in our definitive proxy statement for our 2019 annual meeting of shareholders , which will be filed within 120 days of the end of 2018 ( 2019 proxy statement ) and is incorporated in this form 10-k by reference .', 'information relating to our code of business conduct and ethics , which applies to our senior financial officers , is included in 201cbusiness 2014 available information 201d in part i , item 1 of this form 10-k .', 'item 11 .', 'executive compensation information relating to our executive officer and director compensation and the compensation committee of the board will be in the 2019 proxy statement and is incorporated in this form 10-k by reference .', 'item 12 .', 'security ownership of certain beneficial owners and management and related stockholder matters information relating to security ownership of certain beneficial owners of our common stock and information relating to the security ownership of our management will be in the 2019 proxy statement and is incorporated in this form 10-k by reference .', 'the table below presents information as of december 31 , 2018 regarding securities to be issued pursuant to outstanding restricted stock units ( rsus ) and securities remaining available for issuance under our equity compensation plans that were in effect during 2018 .', 'plan category securities to be issued exercise of outstanding options and rights ( a ) weighted average exercise price of outstanding options ( b ) securities available for future issuance under equity compensation plans ( c ) equity compensation plans approved by security holders 17176475 n/a 68211649 equity compensation plans not approved by security holders 2013 2013 2013 .']
########
Table:
****************************************
plan category securities to be issued upon exercise of outstanding options and rights ( a ) weighted average exercise price of outstanding options ( b ) securities available for future issuance under equity compensation plans ( c )
equity compensation plans approved by security holders 17176475 n/a 68211649
equity compensation plans not approved by securityholders 2013 2013 2013
total 17176475 68211649
****************************************
########
Additional Information: ['in the table above : 2030 securities to be issued upon exercise of outstanding options and rights includes 17176475 shares that may be issued pursuant to outstanding rsus .', 'these awards are subject to vesting and other conditions to the extent set forth in the respective award agreements , and the underlying shares will be delivered net of any required tax withholding .', 'as of december 31 , 2018 , there were no outstanding options .', '2030 shares underlying rsus are deliverable without the payment of any consideration , and therefore these awards have not been taken into account in calculating the weighted average exercise price .', '196 goldman sachs 2018 form 10-k .'] | 0.79884 | GS/2018/page_212.pdf-2 | ['the goldman sachs group , inc .', 'and subsidiaries item 9 .', 'changes in and disagreements with accountants on accounting and financial disclosure there were no changes in or disagreements with accountants on accounting and financial disclosure during the last two years .', 'item 9a .', 'controls and procedures as of the end of the period covered by this report , an evaluation was carried out by goldman sachs 2019 management , with the participation of our chief executive officer and chief financial officer , of the effectiveness of our disclosure controls and procedures ( as defined in rule 13a-15 ( e ) under the exchange act ) .', 'based upon that evaluation , our chief executive officer and chief financial officer concluded that these disclosure controls and procedures were effective as of the end of the period covered by this report .', 'in addition , no change in our internal control over financial reporting ( as defined in rule 13a-15 ( f ) under the exchange act ) occurred during the fourth quarter of our year ended december 31 , 2018 that has materially affected , or is reasonably likely to materially affect , our internal control over financial reporting .', 'management 2019s report on internal control over financial reporting and the report of independent registered public accounting firm are set forth in part ii , item 8 of this form 10-k .', 'item 9b .', 'other information not applicable .', 'part iii item 10 .', 'directors , executive officers and corporate governance information relating to our executive officers is included on page 20 of this form 10-k .', 'information relating to our directors , including our audit committee and audit committee financial experts and the procedures by which shareholders can recommend director nominees , and our executive officers will be in our definitive proxy statement for our 2019 annual meeting of shareholders , which will be filed within 120 days of the end of 2018 ( 2019 proxy statement ) and is incorporated in this form 10-k by reference .', 'information relating to our code of business conduct and ethics , which applies to our senior financial officers , is included in 201cbusiness 2014 available information 201d in part i , item 1 of this form 10-k .', 'item 11 .', 'executive compensation information relating to our executive officer and director compensation and the compensation committee of the board will be in the 2019 proxy statement and is incorporated in this form 10-k by reference .', 'item 12 .', 'security ownership of certain beneficial owners and management and related stockholder matters information relating to security ownership of certain beneficial owners of our common stock and information relating to the security ownership of our management will be in the 2019 proxy statement and is incorporated in this form 10-k by reference .', 'the table below presents information as of december 31 , 2018 regarding securities to be issued pursuant to outstanding restricted stock units ( rsus ) and securities remaining available for issuance under our equity compensation plans that were in effect during 2018 .', 'plan category securities to be issued exercise of outstanding options and rights ( a ) weighted average exercise price of outstanding options ( b ) securities available for future issuance under equity compensation plans ( c ) equity compensation plans approved by security holders 17176475 n/a 68211649 equity compensation plans not approved by security holders 2013 2013 2013 .'] | ['in the table above : 2030 securities to be issued upon exercise of outstanding options and rights includes 17176475 shares that may be issued pursuant to outstanding rsus .', 'these awards are subject to vesting and other conditions to the extent set forth in the respective award agreements , and the underlying shares will be delivered net of any required tax withholding .', 'as of december 31 , 2018 , there were no outstanding options .', '2030 shares underlying rsus are deliverable without the payment of any consideration , and therefore these awards have not been taken into account in calculating the weighted average exercise price .', '196 goldman sachs 2018 form 10-k .'] | ****************************************
plan category securities to be issued upon exercise of outstanding options and rights ( a ) weighted average exercise price of outstanding options ( b ) securities available for future issuance under equity compensation plans ( c )
equity compensation plans approved by security holders 17176475 n/a 68211649
equity compensation plans not approved by securityholders 2013 2013 2013
total 17176475 68211649
**************************************** | add(17176475, 68211649), divide(68211649, #0) | 0.79884 |
what was the ratio of the increase in the service and cost components compared to other post retirement benefit obligation | Pre-text: ['the discount rate assumption was determined for the pension and postretirement benefit plans independently .', 'at year-end 2011 , the company began using an approach that approximates the process of settlement of obligations tailored to the plans 2019 expected cash flows by matching the plans 2019 cash flows to the coupons and expected maturity values of individually selected bonds .', 'the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) .', 'historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments .', 'the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios .', 'assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes .', 'based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets .', 'the company 2019s pension expense increases as the expected return on assets decreases .', 'in the determination of year end 2014 projected benefit plan obligations , the company adopted a new table based on the society of actuaries rp 2014 mortality table including a generational bb-2d projection scale .', 'the adoption resulted in a significant increase to pension and other postretirement benefit plans 2019 projected benefit obligations .', 'assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans .', 'the health care cost trend rate is based on historical rates and expected market conditions .', 'a one-percentage-point change in assumed health care cost trend rates would have the following effects : one-percentage-point increase one-percentage-point decrease effect on total of service and interest cost components .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 5943 $ ( 4887 ) effect on other postretirement benefit obligation .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 105967 $ ( 86179 ) .']
Tabular Data:
, one-percentage-point increase, one-percentage-point decrease
effect on total of service and interest cost components, $ 5943, $ -4887 ( 4887 )
effect on other postretirement benefit obligation, $ 105967, $ -86179 ( 86179 )
Follow-up: ['the discount rate assumption was determined for the pension and postretirement benefit plans independently .', 'at year-end 2011 , the company began using an approach that approximates the process of settlement of obligations tailored to the plans 2019 expected cash flows by matching the plans 2019 cash flows to the coupons and expected maturity values of individually selected bonds .', 'the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) .', 'historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments .', 'the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios .', 'assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes .', 'based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets .', 'the company 2019s pension expense increases as the expected return on assets decreases .', 'in the determination of year end 2014 projected benefit plan obligations , the company adopted a new table based on the society of actuaries rp 2014 mortality table including a generational bb-2d projection scale .', 'the adoption resulted in a significant increase to pension and other postretirement benefit plans 2019 projected benefit obligations .', 'assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans .', 'the health care cost trend rate is based on historical rates and expected market conditions .', 'a one-percentage-point change in assumed health care cost trend rates would have the following effects : one-percentage-point increase one-percentage-point decrease effect on total of service and interest cost components .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 5943 $ ( 4887 ) effect on other postretirement benefit obligation .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 105967 $ ( 86179 ) .'] | 0.05608 | AWK/2014/page_132.pdf-2 | ['the discount rate assumption was determined for the pension and postretirement benefit plans independently .', 'at year-end 2011 , the company began using an approach that approximates the process of settlement of obligations tailored to the plans 2019 expected cash flows by matching the plans 2019 cash flows to the coupons and expected maturity values of individually selected bonds .', 'the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) .', 'historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments .', 'the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios .', 'assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes .', 'based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets .', 'the company 2019s pension expense increases as the expected return on assets decreases .', 'in the determination of year end 2014 projected benefit plan obligations , the company adopted a new table based on the society of actuaries rp 2014 mortality table including a generational bb-2d projection scale .', 'the adoption resulted in a significant increase to pension and other postretirement benefit plans 2019 projected benefit obligations .', 'assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans .', 'the health care cost trend rate is based on historical rates and expected market conditions .', 'a one-percentage-point change in assumed health care cost trend rates would have the following effects : one-percentage-point increase one-percentage-point decrease effect on total of service and interest cost components .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 5943 $ ( 4887 ) effect on other postretirement benefit obligation .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 105967 $ ( 86179 ) .'] | ['the discount rate assumption was determined for the pension and postretirement benefit plans independently .', 'at year-end 2011 , the company began using an approach that approximates the process of settlement of obligations tailored to the plans 2019 expected cash flows by matching the plans 2019 cash flows to the coupons and expected maturity values of individually selected bonds .', 'the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) .', 'historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments .', 'the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios .', 'assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes .', 'based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets .', 'the company 2019s pension expense increases as the expected return on assets decreases .', 'in the determination of year end 2014 projected benefit plan obligations , the company adopted a new table based on the society of actuaries rp 2014 mortality table including a generational bb-2d projection scale .', 'the adoption resulted in a significant increase to pension and other postretirement benefit plans 2019 projected benefit obligations .', 'assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans .', 'the health care cost trend rate is based on historical rates and expected market conditions .', 'a one-percentage-point change in assumed health care cost trend rates would have the following effects : one-percentage-point increase one-percentage-point decrease effect on total of service and interest cost components .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 5943 $ ( 4887 ) effect on other postretirement benefit obligation .', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '.', '$ 105967 $ ( 86179 ) .'] | , one-percentage-point increase, one-percentage-point decrease
effect on total of service and interest cost components, $ 5943, $ -4887 ( 4887 )
effect on other postretirement benefit obligation, $ 105967, $ -86179 ( 86179 ) | divide(5943, 105967) | 0.05608 |
what is the yearly amortization rate related to the trademarks? | Context: ['adobe systems incorporated notes to consolidated financial statements ( continued ) we review our goodwill for impairment annually , or more frequently , if facts and circumstances warrant a review .', 'we completed our annual impairment test in the second quarter of fiscal 2014 .', 'we elected to use the step 1 quantitative assessment for our reporting units and determined that there was no impairment of goodwill .', 'there is no significant risk of material goodwill impairment in any of our reporting units , based upon the results of our annual goodwill impairment test .', 'we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists .', 'we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable .', 'when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows .', 'if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets .', 'we did not recognize any intangible asset impairment charges in fiscal 2014 , 2013 or 2012 .', 'our intangible assets are amortized over their estimated useful lives of 1 to 14 years .', 'amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed or on a straight-line basis when the consumption pattern is not apparent .', 'the weighted average useful lives of our intangible assets were as follows : weighted average useful life ( years ) .']
----
Data Table:
----------------------------------------
| weighted averageuseful life ( years )
----------|----------
purchased technology | 6
customer contracts and relationships | 10
trademarks | 8
acquired rights to use technology | 8
localization | 1
other intangibles | 3
----------------------------------------
----
Follow-up: ['software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate .', 'amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed .', 'to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material .', 'internal use software we capitalize costs associated with customized internal-use software systems that have reached the application development stage .', 'such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related expenses for employees , who are directly associated with the development of the applications .', 'capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and is ready for its intended purpose .', 'income taxes we use the asset and liability method of accounting for income taxes .', 'under this method , income tax expense is recognized for the amount of taxes payable or refundable for the current year .', 'in addition , deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities , and for operating losses and tax credit carryforwards .', 'we record a valuation allowance to reduce deferred tax assets to an amount for which realization is more likely than not .', 'taxes collected from customers we net taxes collected from customers against those remitted to government authorities in our financial statements .', 'accordingly , taxes collected from customers are not reported as revenue. .'] | 12.5 | ADBE/2014/page_70.pdf-1 | ['adobe systems incorporated notes to consolidated financial statements ( continued ) we review our goodwill for impairment annually , or more frequently , if facts and circumstances warrant a review .', 'we completed our annual impairment test in the second quarter of fiscal 2014 .', 'we elected to use the step 1 quantitative assessment for our reporting units and determined that there was no impairment of goodwill .', 'there is no significant risk of material goodwill impairment in any of our reporting units , based upon the results of our annual goodwill impairment test .', 'we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists .', 'we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable .', 'when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows .', 'if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets .', 'we did not recognize any intangible asset impairment charges in fiscal 2014 , 2013 or 2012 .', 'our intangible assets are amortized over their estimated useful lives of 1 to 14 years .', 'amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed or on a straight-line basis when the consumption pattern is not apparent .', 'the weighted average useful lives of our intangible assets were as follows : weighted average useful life ( years ) .'] | ['software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate .', 'amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed .', 'to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material .', 'internal use software we capitalize costs associated with customized internal-use software systems that have reached the application development stage .', 'such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related expenses for employees , who are directly associated with the development of the applications .', 'capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and is ready for its intended purpose .', 'income taxes we use the asset and liability method of accounting for income taxes .', 'under this method , income tax expense is recognized for the amount of taxes payable or refundable for the current year .', 'in addition , deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities , and for operating losses and tax credit carryforwards .', 'we record a valuation allowance to reduce deferred tax assets to an amount for which realization is more likely than not .', 'taxes collected from customers we net taxes collected from customers against those remitted to government authorities in our financial statements .', 'accordingly , taxes collected from customers are not reported as revenue. .'] | ----------------------------------------
| weighted averageuseful life ( years )
----------|----------
purchased technology | 6
customer contracts and relationships | 10
trademarks | 8
acquired rights to use technology | 8
localization | 1
other intangibles | 3
---------------------------------------- | divide(const_100, 8) | 12.5 |
what is the percentual growth of the global products' atoi concerning the total atoi for all segments during the years 2014-2015? | Pre-text: ['management anticipates that the effective tax rate in 2017 will be between 32% ( 32 % ) and 35% ( 35 % ) .', 'however , business portfolio actions , changes in the current economic environment , tax legislation or rate changes , currency fluctuations , ability to realize deferred tax assets , movements in stock price impacting tax benefits or deficiencies on stock-based payment awards , and the results of operations in certain taxing jurisdictions may cause this estimated rate to fluctuate .', 'segment information arconic 2019s operations consist of three worldwide reportable segments : global rolled products , engineered products and solutions , and transportation and construction solutions ( see below ) .', 'segment performance under arconic 2019s management reporting system is evaluated based on a number of factors ; however , the primary measure of performance is the after-tax operating income ( atoi ) of each segment .', 'certain items such as the impact of lifo inventory accounting ; metal price lag ( the timing difference created when the average price of metal sold differs from the average cost of the metal when purchased by the respective segment 2014generally when the price of metal increases , metal lag is favorable and when the price of metal decreases , metal lag is unfavorable ) ; interest expense ; noncontrolling interests ; corporate expense ( general administrative and selling expenses of operating the corporate headquarters and other global administrative facilities , along with depreciation and amortization on corporate-owned assets ) ; restructuring and other charges ; and other items , including intersegment profit eliminations , differences between tax rates applicable to the segments and the consolidated effective tax rate , and other nonoperating items such as foreign currency transaction gains/losses and interest income are excluded from segment atoi .', 'atoi for all reportable segments totaled $ 1087 in 2016 , $ 986 in 2015 , and $ 983 in 2014 .', 'the following information provides shipment , sales and atoi data for each reportable segment , as well as certain realized price data , for each of the three years in the period ended december 31 , 2016 .', 'see note o to the consolidated financial statements in part ii item 8 of this form 10-k for additional information .', 'beginning in the first quarter of 2017 , arconic 2019s segment reporting metric will change from atoi to adjusted ebitda .', 'global rolled products ( 1 ) .']
Data Table:
| 2016 | 2015 | 2014
third-party aluminum shipments ( kmt ) | 1339 | 1375 | 1598
average realized price per metric ton of aluminum ( 2 ) | $ 3633 | $ 3820 | $ 3970
third-party sales | $ 4864 | $ 5253 | $ 6344
intersegment sales | 118 | 125 | 185
total sales | $ 4982 | $ 5378 | $ 6529
atoi | $ 269 | $ 225 | $ 224
Post-table: ['( 1 ) excludes the warrick , in rolling operations and the equity interest in the rolling mill at the joint venture in saudi arabia , both of which were previously part of the global rolled products segment but became part of alcoa corporation effective november 1 , 2016 .', '( 2 ) generally , average realized price per metric ton of aluminum includes two elements : a ) the price of metal ( the underlying base metal component based on quoted prices from the lme , plus a regional premium which represents the incremental price over the base lme component that is associated with physical delivery of metal to a particular region ) , and b ) the conversion price , which represents the incremental price over the metal price component that is associated with converting primary aluminum into sheet and plate .', 'in this circumstance , the metal price component is a pass-through to this segment 2019s customers with limited exception ( e.g. , fixed-priced contracts , certain regional premiums ) .', 'the global rolled products segment produces aluminum sheet and plate for a variety of end markets .', 'sheet and plate is sold directly to customers and through distributors related to the aerospace , automotive , commercial transportation , packaging , building and construction , and industrial products ( mainly used in the production of machinery and equipment and consumer durables ) end markets .', 'a small portion of this segment also produces aseptic foil for the packaging end market .', 'while the customer base for flat-rolled products is large , a significant amount of sales of sheet .'] | 0.00032 | HWM/2016/page_50.pdf-2 | ['management anticipates that the effective tax rate in 2017 will be between 32% ( 32 % ) and 35% ( 35 % ) .', 'however , business portfolio actions , changes in the current economic environment , tax legislation or rate changes , currency fluctuations , ability to realize deferred tax assets , movements in stock price impacting tax benefits or deficiencies on stock-based payment awards , and the results of operations in certain taxing jurisdictions may cause this estimated rate to fluctuate .', 'segment information arconic 2019s operations consist of three worldwide reportable segments : global rolled products , engineered products and solutions , and transportation and construction solutions ( see below ) .', 'segment performance under arconic 2019s management reporting system is evaluated based on a number of factors ; however , the primary measure of performance is the after-tax operating income ( atoi ) of each segment .', 'certain items such as the impact of lifo inventory accounting ; metal price lag ( the timing difference created when the average price of metal sold differs from the average cost of the metal when purchased by the respective segment 2014generally when the price of metal increases , metal lag is favorable and when the price of metal decreases , metal lag is unfavorable ) ; interest expense ; noncontrolling interests ; corporate expense ( general administrative and selling expenses of operating the corporate headquarters and other global administrative facilities , along with depreciation and amortization on corporate-owned assets ) ; restructuring and other charges ; and other items , including intersegment profit eliminations , differences between tax rates applicable to the segments and the consolidated effective tax rate , and other nonoperating items such as foreign currency transaction gains/losses and interest income are excluded from segment atoi .', 'atoi for all reportable segments totaled $ 1087 in 2016 , $ 986 in 2015 , and $ 983 in 2014 .', 'the following information provides shipment , sales and atoi data for each reportable segment , as well as certain realized price data , for each of the three years in the period ended december 31 , 2016 .', 'see note o to the consolidated financial statements in part ii item 8 of this form 10-k for additional information .', 'beginning in the first quarter of 2017 , arconic 2019s segment reporting metric will change from atoi to adjusted ebitda .', 'global rolled products ( 1 ) .'] | ['( 1 ) excludes the warrick , in rolling operations and the equity interest in the rolling mill at the joint venture in saudi arabia , both of which were previously part of the global rolled products segment but became part of alcoa corporation effective november 1 , 2016 .', '( 2 ) generally , average realized price per metric ton of aluminum includes two elements : a ) the price of metal ( the underlying base metal component based on quoted prices from the lme , plus a regional premium which represents the incremental price over the base lme component that is associated with physical delivery of metal to a particular region ) , and b ) the conversion price , which represents the incremental price over the metal price component that is associated with converting primary aluminum into sheet and plate .', 'in this circumstance , the metal price component is a pass-through to this segment 2019s customers with limited exception ( e.g. , fixed-priced contracts , certain regional premiums ) .', 'the global rolled products segment produces aluminum sheet and plate for a variety of end markets .', 'sheet and plate is sold directly to customers and through distributors related to the aerospace , automotive , commercial transportation , packaging , building and construction , and industrial products ( mainly used in the production of machinery and equipment and consumer durables ) end markets .', 'a small portion of this segment also produces aseptic foil for the packaging end market .', 'while the customer base for flat-rolled products is large , a significant amount of sales of sheet .'] | | 2016 | 2015 | 2014
third-party aluminum shipments ( kmt ) | 1339 | 1375 | 1598
average realized price per metric ton of aluminum ( 2 ) | $ 3633 | $ 3820 | $ 3970
third-party sales | $ 4864 | $ 5253 | $ 6344
intersegment sales | 118 | 125 | 185
total sales | $ 4982 | $ 5378 | $ 6529
atoi | $ 269 | $ 225 | $ 224 | divide(225, 986), divide(224, 983), subtract(#0, #1) | 0.00032 |
what was the purchase price of common stock acquired under the espp in 2018? | Pre-text: ['condition are valued using a monte carlo model .', 'expected volatility is based on historical volatilities of traded common stock of the company and comparative companies using daily stock prices over the past three years .', 'the expected term is three years and the risk-free interest rate is based on the three-year u.s .', 'treasury rate in effect as of the measurement date .', 'the following table provides the weighted average assumptions used in the monte carlo simulation and the weighted average grant date fair values of psus granted for the years ended december 31: .']
Data Table:
| 2018 | 2017 | 2016
----------|----------|----------|----------
expected volatility | 17.23% ( 17.23 % ) | 17.40% ( 17.40 % ) | 15.90% ( 15.90 % )
risk-free interest rate | 2.36% ( 2.36 % ) | 1.53% ( 1.53 % ) | 0.91% ( 0.91 % )
expected life ( years ) | 3.0 | 3.0 | 3.0
grant date fair value per share | $ 73.62 | $ 72.81 | $ 77.16
Post-table: ['the grant date fair value of psus that vest ratably and have market and/or performance conditions are amortized through expense over the requisite service period using the graded-vesting method .', 'if dividends are paid with respect to shares of the company 2019s common stock before the rsus and psus are distributed , the company credits a liability for the value of the dividends that would have been paid if the rsus and psus were shares of company common stock .', 'when the rsus and psus are distributed , the company pays the participant a lump sum cash payment equal to the value of the dividend equivalents accrued .', 'the company accrued dividend equivalents totaling $ 1 million , less than $ 1 million and $ 1 million to accumulated deficit in the accompanying consolidated statements of changes in shareholders 2019 equity for the years ended december 31 , 2018 , 2017 and 2016 , respectively .', 'employee stock purchase plan the company maintains a nonqualified employee stock purchase plan ( the 201cespp 201d ) through which employee participants may use payroll deductions to acquire company common stock at a discount .', 'prior to february 5 , 2019 , the purchase price of common stock acquired under the espp was the lesser of 90% ( 90 % ) of the fair market value of the common stock at either the beginning or the end of a three -month purchase period .', 'on july 27 , 2018 , the espp was amended , effective february 5 , 2019 , to permit employee participants to acquire company common stock at 85% ( 85 % ) of the fair market value of the common stock at the end of the purchase period .', 'as of december 31 , 2018 , there were 1.9 million shares of common stock reserved for issuance under the espp .', 'the espp is considered compensatory .', 'during the years ended december 31 , 2018 , 2017 and 2016 , the company issued 95 thousand , 93 thousand and 93 thousand shares , respectively , under the espp. .'] | 66.258 | AWK/2018/page_152.pdf-1 | ['condition are valued using a monte carlo model .', 'expected volatility is based on historical volatilities of traded common stock of the company and comparative companies using daily stock prices over the past three years .', 'the expected term is three years and the risk-free interest rate is based on the three-year u.s .', 'treasury rate in effect as of the measurement date .', 'the following table provides the weighted average assumptions used in the monte carlo simulation and the weighted average grant date fair values of psus granted for the years ended december 31: .'] | ['the grant date fair value of psus that vest ratably and have market and/or performance conditions are amortized through expense over the requisite service period using the graded-vesting method .', 'if dividends are paid with respect to shares of the company 2019s common stock before the rsus and psus are distributed , the company credits a liability for the value of the dividends that would have been paid if the rsus and psus were shares of company common stock .', 'when the rsus and psus are distributed , the company pays the participant a lump sum cash payment equal to the value of the dividend equivalents accrued .', 'the company accrued dividend equivalents totaling $ 1 million , less than $ 1 million and $ 1 million to accumulated deficit in the accompanying consolidated statements of changes in shareholders 2019 equity for the years ended december 31 , 2018 , 2017 and 2016 , respectively .', 'employee stock purchase plan the company maintains a nonqualified employee stock purchase plan ( the 201cespp 201d ) through which employee participants may use payroll deductions to acquire company common stock at a discount .', 'prior to february 5 , 2019 , the purchase price of common stock acquired under the espp was the lesser of 90% ( 90 % ) of the fair market value of the common stock at either the beginning or the end of a three -month purchase period .', 'on july 27 , 2018 , the espp was amended , effective february 5 , 2019 , to permit employee participants to acquire company common stock at 85% ( 85 % ) of the fair market value of the common stock at the end of the purchase period .', 'as of december 31 , 2018 , there were 1.9 million shares of common stock reserved for issuance under the espp .', 'the espp is considered compensatory .', 'during the years ended december 31 , 2018 , 2017 and 2016 , the company issued 95 thousand , 93 thousand and 93 thousand shares , respectively , under the espp. .'] | | 2018 | 2017 | 2016
----------|----------|----------|----------
expected volatility | 17.23% ( 17.23 % ) | 17.40% ( 17.40 % ) | 15.90% ( 15.90 % )
risk-free interest rate | 2.36% ( 2.36 % ) | 1.53% ( 1.53 % ) | 0.91% ( 0.91 % )
expected life ( years ) | 3.0 | 3.0 | 3.0
grant date fair value per share | $ 73.62 | $ 72.81 | $ 77.16 | multiply(90%, 73.62) | 66.258 |
what percent of longterm debt payments are deferred until after 2024? | Pre-text: ['factors , including the market price of our common stock , general economic and market conditions and applicable legal requirements .', 'the repurchase program may be commenced , suspended or discontinued at any time .', 'in fiscal 2019 , we repurchased approximately 2.1 million shares of our common stock for an aggregate cost of $ 88.6 million .', 'in fiscal 2018 , we repurchased approximately 3.4 million shares of our common stock for an aggregate cost of $ 195.1 million .', 'as of september 30 , 2019 , we had approximately 19.1 million shares of common stock available for repurchase under the program .', 'we anticipate that we will be able to fund our capital expenditures , interest payments , dividends and stock repurchases , pension payments , working capital needs , note repurchases , restructuring activities , repayments of current portion of long-term debt and other corporate actions for the foreseeable future from cash generated from operations , borrowings under our credit facilities , proceeds from our a/r sales agreement , proceeds from the issuance of debt or equity securities or other additional long-term debt financing , including new or amended facilities .', 'in addition , we continually review our capital structure and conditions in the private and public debt markets in order to optimize our mix of indebtedness .', 'in connection with these reviews , we may seek to refinance existing indebtedness to extend maturities , reduce borrowing costs or otherwise improve the terms and composition of our indebtedness .', 'contractual obligations we summarize our enforceable and legally binding contractual obligations at september 30 , 2019 , and the effect these obligations are expected to have on our liquidity and cash flow in future periods in the following table .', 'certain amounts in this table are based on management 2019s estimates and assumptions about these obligations , including their duration , the possibility of renewal , anticipated actions by third parties and other factors , including estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans .', 'because these estimates and assumptions are subjective , the enforceable and legally binding obligations we actually pay in future periods may vary from those presented in the table. .']
########
Tabular Data:
****************************************
Row 1: ( in millions ), payments due by period total, payments due by period fiscal 2020, payments due by period fiscal 2021and 2022, payments due by period fiscal 2023and 2024, payments due by period thereafter
Row 2: long-term debt including current portionexcluding capital lease obligations ( 1 ), $ 9714.1, $ 550.8, $ 939.8, $ 2494.3, $ 5729.2
Row 3: operating lease obligations ( 2 ), 930.4, 214.3, 316.4, 193.6, 206.1
Row 4: capital lease obligations ( 3 ), 168.9, 6.4, 8.7, 2.9, 150.9
Row 5: purchase obligations and other ( 4 ) ( 5 ) ( 6 ), 2293.5, 1607.0, 292.5, 206.7, 187.3
Row 6: total, $ 13106.9, $ 2378.5, $ 1557.4, $ 2897.5, $ 6273.5
****************************************
########
Post-table: ['( 1 ) includes only principal payments owed on our debt assuming that all of our long-term debt will be held to maturity , excluding scheduled payments .', 'we have excluded $ 163.5 million of fair value of debt step-up , deferred financing costs and unamortized bond discounts from the table to arrive at actual debt obligations .', 'see 201cnote 13 .', 'debt 201d of the notes to consolidated financial statements for information on the interest rates that apply to our various debt instruments .', '( 2 ) see 201cnote 15 .', 'operating leases 201d of the notes to consolidated financial statements for additional information .', '( 3 ) the fair value step-up of $ 16.9 million is excluded .', 'see 201cnote 13 .', 'debt 2014 capital lease and other indebtedness 201d of the notes to consolidated financial statements for additional information .', '( 4 ) purchase obligations include agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum or variable price provision ; and the approximate timing of the transaction .', 'purchase obligations exclude agreements that are cancelable without penalty .', '( 5 ) we have included in the table future estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans .', 'our estimates are based on factors , such as discount rates and expected returns on plan assets .', 'future contributions are subject to changes in our underfunded status based on factors such as investment performance , discount rates , returns on plan assets and changes in legislation .', 'it is possible that our assumptions may change , actual market performance may vary or we may decide to contribute different amounts .', 'we have excluded $ 237.2 million of multiemployer pension plan withdrawal liabilities recorded as of september 30 , 2019 , including our estimate of the accumulated funding deficiency , due to lack of .'] | 0.58978 | WRK/2019/page_51.pdf-4 | ['factors , including the market price of our common stock , general economic and market conditions and applicable legal requirements .', 'the repurchase program may be commenced , suspended or discontinued at any time .', 'in fiscal 2019 , we repurchased approximately 2.1 million shares of our common stock for an aggregate cost of $ 88.6 million .', 'in fiscal 2018 , we repurchased approximately 3.4 million shares of our common stock for an aggregate cost of $ 195.1 million .', 'as of september 30 , 2019 , we had approximately 19.1 million shares of common stock available for repurchase under the program .', 'we anticipate that we will be able to fund our capital expenditures , interest payments , dividends and stock repurchases , pension payments , working capital needs , note repurchases , restructuring activities , repayments of current portion of long-term debt and other corporate actions for the foreseeable future from cash generated from operations , borrowings under our credit facilities , proceeds from our a/r sales agreement , proceeds from the issuance of debt or equity securities or other additional long-term debt financing , including new or amended facilities .', 'in addition , we continually review our capital structure and conditions in the private and public debt markets in order to optimize our mix of indebtedness .', 'in connection with these reviews , we may seek to refinance existing indebtedness to extend maturities , reduce borrowing costs or otherwise improve the terms and composition of our indebtedness .', 'contractual obligations we summarize our enforceable and legally binding contractual obligations at september 30 , 2019 , and the effect these obligations are expected to have on our liquidity and cash flow in future periods in the following table .', 'certain amounts in this table are based on management 2019s estimates and assumptions about these obligations , including their duration , the possibility of renewal , anticipated actions by third parties and other factors , including estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans .', 'because these estimates and assumptions are subjective , the enforceable and legally binding obligations we actually pay in future periods may vary from those presented in the table. .'] | ['( 1 ) includes only principal payments owed on our debt assuming that all of our long-term debt will be held to maturity , excluding scheduled payments .', 'we have excluded $ 163.5 million of fair value of debt step-up , deferred financing costs and unamortized bond discounts from the table to arrive at actual debt obligations .', 'see 201cnote 13 .', 'debt 201d of the notes to consolidated financial statements for information on the interest rates that apply to our various debt instruments .', '( 2 ) see 201cnote 15 .', 'operating leases 201d of the notes to consolidated financial statements for additional information .', '( 3 ) the fair value step-up of $ 16.9 million is excluded .', 'see 201cnote 13 .', 'debt 2014 capital lease and other indebtedness 201d of the notes to consolidated financial statements for additional information .', '( 4 ) purchase obligations include agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum or variable price provision ; and the approximate timing of the transaction .', 'purchase obligations exclude agreements that are cancelable without penalty .', '( 5 ) we have included in the table future estimated minimum pension plan contributions and estimated benefit payments related to postretirement obligations , supplemental retirement plans and deferred compensation plans .', 'our estimates are based on factors , such as discount rates and expected returns on plan assets .', 'future contributions are subject to changes in our underfunded status based on factors such as investment performance , discount rates , returns on plan assets and changes in legislation .', 'it is possible that our assumptions may change , actual market performance may vary or we may decide to contribute different amounts .', 'we have excluded $ 237.2 million of multiemployer pension plan withdrawal liabilities recorded as of september 30 , 2019 , including our estimate of the accumulated funding deficiency , due to lack of .'] | ****************************************
Row 1: ( in millions ), payments due by period total, payments due by period fiscal 2020, payments due by period fiscal 2021and 2022, payments due by period fiscal 2023and 2024, payments due by period thereafter
Row 2: long-term debt including current portionexcluding capital lease obligations ( 1 ), $ 9714.1, $ 550.8, $ 939.8, $ 2494.3, $ 5729.2
Row 3: operating lease obligations ( 2 ), 930.4, 214.3, 316.4, 193.6, 206.1
Row 4: capital lease obligations ( 3 ), 168.9, 6.4, 8.7, 2.9, 150.9
Row 5: purchase obligations and other ( 4 ) ( 5 ) ( 6 ), 2293.5, 1607.0, 292.5, 206.7, 187.3
Row 6: total, $ 13106.9, $ 2378.5, $ 1557.4, $ 2897.5, $ 6273.5
**************************************** | divide(5729.2, 9714.1) | 0.58978 |
how many shares were issued during the period of 2016 to 2018 , in millions? | Background: ['debt issuance costs : debt issuance costs are reflected as a direct deduction of our long-term debt balance on the consolidated balance sheets .', 'we incurred debt issuance costs of $ 15 million in 2018 and $ 53 million in 2016 .', 'debt issuance costs in 2017 were insignificant .', 'unamortized debt issuance costs were $ 115 million at december 29 , 2018 , $ 114 million at december 30 , 2017 , and $ 124 million at december 31 , 2016 .', 'amortization of debt issuance costs was $ 16 million in 2018 , $ 16 million in 2017 , and $ 14 million in 2016 .', 'debt premium : unamortized debt premiums are presented on the consolidated balance sheets as a direct addition to the carrying amount of debt .', 'unamortized debt premium , net , was $ 430 million at december 29 , 2018 and $ 505 million at december 30 , 2017 .', 'amortization of our debt premium , net , was $ 65 million in 2018 , $ 81 million in 2017 , and $ 88 million in 2016 .', 'debt repayments : in july and august 2018 , we repaid $ 2.7 billion aggregate principal amount of senior notes that matured in the period .', 'we funded these long-term debt repayments primarily with proceeds from the new notes issued in june 2018 .', 'additionally , in june 2017 , we repaid $ 2.0 billion aggregate principal amount of senior notes that matured in the period .', 'we funded these long-term debt repayments primarily with cash on hand and our commercial paper programs .', 'fair value of debt : at december 29 , 2018 , the aggregate fair value of our total debt was $ 30.1 billion as compared with a carrying value of $ 31.2 billion .', 'at december 30 , 2017 , the aggregate fair value of our total debt was $ 33.0 billion as compared with a carrying value of $ 31.5 billion .', 'our short-term debt and commercial paper had carrying values that approximated their fair values at december 29 , 2018 and december 30 , 2017 .', 'we determined the fair value of our long-term debt using level 2 inputs .', 'fair values are generally estimated based on quoted market prices for identical or similar instruments .', 'note 20 .', 'capital stock preferred stock our second amended and restated certificate of incorporation authorizes the issuance of up to 920000 shares of preferred stock .', 'on june 7 , 2016 , we redeemed all 80000 outstanding shares of our series a preferred stock for $ 8.3 billion .', 'we funded this redemption primarily through the issuance of long-term debt in may 2016 , as well as other sources of liquidity , including our u.s .', 'commercial paper program , u.s .', 'securitization program , and cash on hand .', 'in connection with the redemption , all series a preferred stock was canceled and automatically retired .', 'common stock our second amended and restated certificate of incorporation authorizes the issuance of up to 5.0 billion shares of common stock .', 'shares of common stock issued , in treasury , and outstanding were ( in millions of shares ) : shares issued treasury shares shares outstanding .']
--
Data Table:
****************************************
shares issued treasury shares shares outstanding
balance at january 3 2016 1214 2014 1214
exercise of stock options issuance of other stock awards and other 5 -2 ( 2 ) 3
balance at december 31 2016 1219 -2 ( 2 ) 1217
exercise of stock options issuance of other stock awards and other 2 2014 2
balance at december 30 2017 1221 -2 ( 2 ) 1219
exercise of stock options issuance of other stock awards and other 3 -2 ( 2 ) 1
balance at december 29 2018 1224 -4 ( 4 ) 1220
****************************************
--
Post-table: ['.'] | 10.0 | KHC/2018/page_132.pdf-1 | ['debt issuance costs : debt issuance costs are reflected as a direct deduction of our long-term debt balance on the consolidated balance sheets .', 'we incurred debt issuance costs of $ 15 million in 2018 and $ 53 million in 2016 .', 'debt issuance costs in 2017 were insignificant .', 'unamortized debt issuance costs were $ 115 million at december 29 , 2018 , $ 114 million at december 30 , 2017 , and $ 124 million at december 31 , 2016 .', 'amortization of debt issuance costs was $ 16 million in 2018 , $ 16 million in 2017 , and $ 14 million in 2016 .', 'debt premium : unamortized debt premiums are presented on the consolidated balance sheets as a direct addition to the carrying amount of debt .', 'unamortized debt premium , net , was $ 430 million at december 29 , 2018 and $ 505 million at december 30 , 2017 .', 'amortization of our debt premium , net , was $ 65 million in 2018 , $ 81 million in 2017 , and $ 88 million in 2016 .', 'debt repayments : in july and august 2018 , we repaid $ 2.7 billion aggregate principal amount of senior notes that matured in the period .', 'we funded these long-term debt repayments primarily with proceeds from the new notes issued in june 2018 .', 'additionally , in june 2017 , we repaid $ 2.0 billion aggregate principal amount of senior notes that matured in the period .', 'we funded these long-term debt repayments primarily with cash on hand and our commercial paper programs .', 'fair value of debt : at december 29 , 2018 , the aggregate fair value of our total debt was $ 30.1 billion as compared with a carrying value of $ 31.2 billion .', 'at december 30 , 2017 , the aggregate fair value of our total debt was $ 33.0 billion as compared with a carrying value of $ 31.5 billion .', 'our short-term debt and commercial paper had carrying values that approximated their fair values at december 29 , 2018 and december 30 , 2017 .', 'we determined the fair value of our long-term debt using level 2 inputs .', 'fair values are generally estimated based on quoted market prices for identical or similar instruments .', 'note 20 .', 'capital stock preferred stock our second amended and restated certificate of incorporation authorizes the issuance of up to 920000 shares of preferred stock .', 'on june 7 , 2016 , we redeemed all 80000 outstanding shares of our series a preferred stock for $ 8.3 billion .', 'we funded this redemption primarily through the issuance of long-term debt in may 2016 , as well as other sources of liquidity , including our u.s .', 'commercial paper program , u.s .', 'securitization program , and cash on hand .', 'in connection with the redemption , all series a preferred stock was canceled and automatically retired .', 'common stock our second amended and restated certificate of incorporation authorizes the issuance of up to 5.0 billion shares of common stock .', 'shares of common stock issued , in treasury , and outstanding were ( in millions of shares ) : shares issued treasury shares shares outstanding .'] | ['.'] | ****************************************
shares issued treasury shares shares outstanding
balance at january 3 2016 1214 2014 1214
exercise of stock options issuance of other stock awards and other 5 -2 ( 2 ) 3
balance at december 31 2016 1219 -2 ( 2 ) 1217
exercise of stock options issuance of other stock awards and other 2 2014 2
balance at december 30 2017 1221 -2 ( 2 ) 1219
exercise of stock options issuance of other stock awards and other 3 -2 ( 2 ) 1
balance at december 29 2018 1224 -4 ( 4 ) 1220
**************************************** | subtract(1224, 1214) | 10.0 |
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