id
stringlengths 6
9
| query
stringlengths 594
16.3k
| answer
stringlengths 2
16
| text
stringlengths 26
367
|
|---|---|---|---|
finqa1200 | Please answer the given financial question based on the context.
Context: note 6 2014mergers and acquisitions eldertrust merger on february 5 , 2004 , the company consummated a merger transaction in an all cash transaction valued at $ 184 million ( the 201celdertrust transaction 201d ) . the eldertrust transaction adds nine assisted living facilities , one independent living facility , five skilled nursing facilities , two med- ical office buildings and a financial office building ( the 201celdertrust properties 201d ) to the company 2019s portfolio.the eldertrust properties are leased by the company to various operators under leases providing for aggregated , annual cash base rent of approxi- mately $ 16.2 million , subject to escalation as provided in the leases.the leases have remaining terms primarily ranging from four to 11 years.at the closing of the eldertrust transaction , the company also acquired all of the limited partnership units in eldertrust operating limited partnership ( 201cetop 201d ) directly from their owners at $ 12.50 per unit , excluding 31455 class c units in etop ( which will remain outstanding ) . etop owns directly or indirectly all of the eldertrust properties . the company funded the $ 101 million equity portion of the purchase price with cash on eldertrust 2019s balance sheet , a portion of the $ 85 million in proceeds from its december 2003 sale of ten facilities to kindred and draws on the company 2019s revolving credit facility ( the 201crevolving credit facility 201d ) under its second amended and restated security and guaranty agreement , dated as of april 17 , 2002 ( the 201c2002 credit agreement 201d ) .the company 2019s ownership of the eldertrust properties is subject to approximately $ 83 million of property level debt and other liabilities.at the close of the eldertrust transaction , eldertrust had approximately $ 33.5 million in unrestricted and restricted cash on hand . the acquisition was accounted for under the purchase method . the following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of acquisition . such estimates are subject to refinement as additional valuation information is received . operations from this merger will be reflected in the company 2019s consolidated financial state- ments for periods subsequent to the acquisition date of february 5 , 2004.the company is in the process of computing fair values , thus , the allocation of the purchase price is subject to refinement. .
||( in millions )|
|real estate investments|$ 162|
|cash and cash equivalents|28|
|other assets|5|
|total assets acquired|$ 195|
|notes payable and other debt|83|
|accounts payable and other accrued liabilities|2|
|total liabilities assumed|85|
|net assets acquired|$ 110|
transaction with brookdale on january 29 , 2004 , the company entered into 14 definitive purchase agreements ( each , a 201cbrookdale purchase agreement 201d ) with certain affiliates of brookdale living communities , inc . ( 201cbrookdale 201d ) to purchase ( each such purchase , a 201cbrookdale acquisition 201d ) a total of 14 independent living or assisted living facilities ( each , a 201cbrookdale facility 201d ) for an aggregate purchase price of $ 115 million.affiliates of brookdale have agreed to lease and operate the brookdale facilities pursuant to one or more triple-net leases.all of the brookdale leases , which have an initial term of 15 years , will be guaranteed by brookdale and provide for aggregated annual base rent of approximately $ 10 million , escalating each year by the greater of ( i ) 1.5% ( 1.5 % ) or ( ii ) 75% ( 75 % ) of the consumer price index . the company expects to fund the brookdale acquisitions by assuming an aggregate of approximately $ 41 million of non- recourse property level debt on certain of the brookdale facilities , with the balance to be paid from cash on hand and/or draws on the revolving credit facility.the property level debt encumbers seven of the brookdale facilities . on january 29 , 2004 , the company completed the acquisitions of four brookdale facilities for an aggregate purchase price of $ 37 million.the company 2019s acquisition of the remaining ten brookdale facilities is expected to be completed shortly , subject to customary closing conditions . however , the consummation of each such brookdale acquisition is not conditioned upon the consummation of any other such brookdale acquisition and there can be no assurance which , if any , of such remaining brookdale acquisitions will be consummated or when they will be consummated . transactions with trans healthcare , inc . on november 4 , 2002 , the company , through its wholly owned subsidiary ventas realty , completed a $ 120.0 million transaction ( the 201cthi transaction 201d ) with trans healthcare , inc. , a privately owned long-term care and hospital company ( 201cthi 201d ) .the thi transaction was structured as a $ 53.0 million sale leaseback trans- action ( the 201cthi sale leaseback 201d ) and a $ 67.0 million loan ( the 201cthi loan 201d ) , comprised of a first mortgage loan ( the 201cthi senior loan 201d ) and a mezzanine loan ( the 201cthi mezzanine loan 201d ) . following a sale of the thi senior loan in december 2002 ( see below ) , the company 2019s investment in thi was $ 70.0 million . as part of the thi sale leasebackventas realty purchased 5 properties and is leasing them back to thi under a 201ctriple-net 201d master lease ( the 201cthi master lease 201d ) .the properties subject to the sale leaseback are four skilled nursing facilities and one con- tinuing care retirement community.the thi master lease , which has an initial term of ten years , provides for annual base rent of $ 5.9 million.the thi master lease provides that if thi meets specified revenue parameters , annual base rent will escalate each year by the greater of ( i ) three percent or ( ii ) 50% ( 50 % ) of the consumer price index . ventas , inc . page 37 annual report 2003 .
Question: what as the leverage of the debt to assets of elder trust at the time of the to the purchase
Answer: | 0.4359 | what as the leverage of the debt to assets of elder trust at the time of the to the purchase |
finqa1201 | Please answer the given financial question based on the context.
Context: entergy arkansas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .
|2017|2016|2015|2014|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|( $ 166137 )|( $ 51232 )|( $ 52742 )|$ 2218|
see note 4 to the financial statements for a description of the money pool . entergy arkansas has a credit facility in the amount of $ 150 million scheduled to expire in august 2022 . entergy arkansas also has a $ 20 million credit facility scheduled to expire in april 2018 . a0 a0the $ 150 million credit facility permits the issuance of letters of credit against $ 5 million of the borrowing capacity of the facility . as of december 31 , 2017 , there were no cash borrowings and no letters of credit outstanding under the credit facilities . in addition , entergy arkansas 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 $ 1 million letter of credit was outstanding under entergy arkansas 2019s uncommitted letter of credit facility . see note 4 to the financial statements for further discussion of the credit facilities . the entergy arkansas nuclear fuel company variable interest entity has a credit facility in the amount of $ 80 million scheduled to expire in may 2019 . a0 a0as of december 31 , 2017 , $ 50 million in letters of credit to support a like amount of commercial paper issued and $ 24.9 million in loans were outstanding under the entergy arkansas nuclear fuel company variable interest entity credit facility . see note 4 to the financial statements for further discussion of the nuclear fuel company variable interest entity credit facility . entergy arkansas obtained authorizations from the ferc through october 2019 for short-term borrowings not to exceed an aggregate amount of $ 250 million at any time outstanding and borrowings by its nuclear fuel company variable interest entity . see note 4 to the financial statements for further discussion of entergy arkansas 2019s short-term borrowing limits . the long-term securities issuances of entergy arkansas are limited to amounts authorized by the apsc , and the current authorization extends through december 2018 . entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis state and local rate regulation and fuel-cost recovery retail rates 2015 base rate filing in april 2015 , entergy arkansas filed with the apsc for a general change in rates , charges , and tariffs . the filing notified the apsc of entergy arkansas 2019s intent to implement a forward test year formula rate plan pursuant to arkansas legislation passed in 2015 , and requested a retail rate increase of $ 268.4 million , with a net increase in revenue of $ 167 million . the filing requested a 10.2% ( 10.2 % ) return on common equity . in september 2015 the apsc staff and intervenors filed direct testimony , with the apsc staff recommending a revenue requirement of $ 217.9 million and a 9.65% ( 9.65 % ) return on common equity . in december 2015 , entergy arkansas , the apsc staff , and certain of the intervenors in the rate case filed with the apsc a joint motion for approval of a settlement of the case that proposed a retail rate increase of approximately $ 225 million with a net increase in revenue of approximately $ 133 million ; an authorized return on common equity of 9.75% ( 9.75 % ) ; and a formula rate plan tariff that provides a +/- 50 basis point band around the 9.75% ( 9.75 % ) allowed return on common equity . a significant portion of the rate increase is related to entergy arkansas 2019s acquisition in march 2016 of union power station power block 2 for a base purchase price of $ 237 million . the settlement agreement also provided for amortization over a 10-year period of $ 7.7 million of previously-incurred costs related to ano post-fukushima compliance and $ 9.9 million of previously-incurred costs related to ano flood barrier compliance . a settlement hearing was held in january 2016 . in february 2016 the apsc approved the settlement with one exception that reduced the retail rate increase proposed in the settlement by $ 5 million . the settling parties agreed to the apsc modifications in february 2016 . the new rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 . in march 2016 , entergy arkansas made a compliance filing regarding the .
Question: in 2016 as part of the entergy arkansas 2019s intent to implement a forward test year formula rate plan pursuant to arkansas legislation passed in 2015 , what was the ratio of the and requested a retail rate increase to the net increase
Answer: | 1.60719 | in 2016 as part of the entergy arkansas 2019s intent to implement a forward test year formula rate plan pursuant to arkansas legislation passed in 2015 , what was the ratio of the and requested a retail rate increase to the net increase |
finqa1202 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements under the regulatory framework for prompt corrective action applicable to gs bank usa , in order to meet the quantitative requirements for being a 201cwell-capitalized 201d depository institution , gs bank usa is required to maintain a tier 1 capital ratio of at least 6% ( 6 % ) , a total capital ratio of at least 10% ( 10 % ) and a tier 1 leverage ratio of at least 5% ( 5 % ) . gs bank usa agreed with the federal reserve board to maintain minimum capital ratios in excess of these 201cwell- capitalized 201d levels . accordingly , for a period of time , gs bank usa is expected to maintain a tier 1 capital ratio of at least 8% ( 8 % ) , a total capital ratio of at least 11% ( 11 % ) and a tier 1 leverage ratio of at least 6% ( 6 % ) . as noted in the table below , gs bank usa was in compliance with these minimum capital requirements as of december 2013 and december 2012 . the table below presents information regarding gs bank usa 2019s regulatory capital ratios under basel i , as implemented by the federal reserve board . the information as of december 2013 reflects the revised market risk regulatory capital requirements , which became effective on january 1 , 2013 . these changes resulted in increased regulatory capital requirements for market risk . the information as of december 2012 is prior to the implementation of these revised market risk regulatory capital requirements. .
|$ in millions|as of december 2013|as of december 2012|
|tier 1 capital|$ 20086|$ 20704|
|tier 2 capital|$ 116|$ 39|
|total capital|$ 20202|$ 20743|
|risk-weighted assets|$ 134935|$ 109669|
|tier 1 capital ratio|14.9% ( 14.9 % )|18.9% ( 18.9 % )|
|total capital ratio|15.0% ( 15.0 % )|18.9% ( 18.9 % )|
|tier 1 leverage ratio|16.9% ( 16.9 % )|17.6% ( 17.6 % )|
the revised capital framework described above is also applicable to gs bank usa , which is an advanced approach banking organization under this framework . gs bank usa has also been informed by the federal reserve board that it has completed a satisfactory parallel run , as required of advanced approach banking organizations under the revised capital framework , and therefore changes to its calculations of rwas will take effect beginning with the second quarter of 2014 . under the revised capital framework , as of january 1 , 2014 , gs bank usa became subject to a new minimum cet1 ratio requirement of 4% ( 4 % ) , increasing to 4.5% ( 4.5 % ) in 2015 . in addition , the revised capital framework changes the standards for 201cwell-capitalized 201d status under prompt corrective action regulations beginning january 1 , 2015 by , among other things , introducing a cet1 ratio requirement of 6.5% ( 6.5 % ) and increasing the tier 1 capital ratio requirement from 6% ( 6 % ) to 8% ( 8 % ) . in addition , commencing january 1 , 2018 , advanced approach banking organizations must have a supplementary leverage ratio of 3% ( 3 % ) or greater . the basel committee published its final guidelines for calculating incremental capital requirements for domestic systemically important banking institutions ( d-sibs ) . these guidelines are complementary to the framework outlined above for g-sibs . the impact of these guidelines on the regulatory capital requirements of gs bank usa will depend on how they are implemented by the banking regulators in the united states . the deposits of gs bank usa are insured by the fdic to the extent provided by law . the federal reserve board requires depository institutions to maintain cash reserves with a federal reserve bank . the amount deposited by the firm 2019s depository institution held at the federal reserve bank was approximately $ 50.39 billion and $ 58.67 billion as of december 2013 and december 2012 , respectively , which exceeded required reserve amounts by $ 50.29 billion and $ 58.59 billion as of december 2013 and december 2012 , respectively . transactions between gs bank usa and its subsidiaries and group inc . and its subsidiaries and affiliates ( other than , generally , subsidiaries of gs bank usa ) are regulated by the federal reserve board . these regulations generally limit the types and amounts of transactions ( including credit extensions from gs bank usa ) that may take place and generally require those transactions to be on market terms or better to gs bank usa . the firm 2019s principal non-u.s . bank subsidiary , gsib , is a wholly-owned credit institution , regulated by the prudential regulation authority ( pra ) and the financial conduct authority ( fca ) and is subject to minimum capital requirements . as of december 2013 and december 2012 , gsib was in compliance with all regulatory capital requirements . goldman sachs 2013 annual report 193 .
Question: if risk-weighted assets held flat how much in millions would tier 1 capital have to decline for the tier 1 capital ratio to reach 8%?
Answer: | 134827.052 | if risk-weighted assets held flat how much in millions would tier 1 capital have to decline for the tier 1 capital ratio to reach 8%? |
finqa1203 | Please answer the given financial question based on the context.
Context: net cash flows provided by operating activities of $ 704.4 million for 2016 increased $ 154.7 million from 2015 due primarily to ( 1 ) improved operating performance and ( 2 ) lower supplier payments in 2016 compared to 2015 , partially offset by ( 1 ) the impact of excess tax benefits from stock plans , primarily due to our increased stock price , and ( 2 ) an increase in accounts receivable due to increased sales , primarily in the united states . net cash flows provided by operating activities of $ 549.7 million for 2015 decreased $ 472.6 million from 2014 due primarily to ( 1 ) the $ 750.0 million upfront payment received from medtronic under a litigation settlement agreement , and ( 2 ) a higher bonus payout in 2015 associated with 2014 performance . these decreases were partially offset by ( 1 ) income tax payments of $ 224.5 million made in 2014 related to the medtronic settlement , ( 2 ) improved operating performance in 2015 , and ( 3 ) the $ 50.0 million charitable contribution made in 2014 to the edwards lifesciences foundation . net cash used in investing activities of $ 211.7 million in 2016 consisted primarily of capital expenditures of $ 176.1 million and $ 41.3 million for the acquisition of intangible assets . net cash used in investing activities of $ 316.1 million in 2015 consisted primarily of a $ 320.1 million net payment associated with the acquisition of cardiaq , and capital expenditures of $ 102.7 million , partially offset by net proceeds from investments of $ 119.6 million . net cash used in investing activities of $ 633.0 million in 2014 consisted primarily of net purchases of investments of $ 527.4 million and capital expenditures of $ 82.9 million . net cash used in financing activities of $ 268.5 million in 2016 consisted primarily of purchases of treasury stock of $ 662.3 million , partially offset by ( 1 ) net proceeds from the issuance of debt of $ 222.1 million , ( 2 ) proceeds from stock plans of $ 103.3 million , and ( 3 ) the excess tax benefit from stock plans of $ 64.3 million . net cash used in financing activities of $ 158.6 million in 2015 consisted primarily of purchases of treasury stock of $ 280.1 million , partially offset by ( 1 ) proceeds from stock plans of $ 87.2 million , and ( 2 ) the excess tax benefit from stock plans of $ 41.3 million . net cash used in financing activities of $ 153.0 million in 2014 consisted primarily of purchases of treasury stock of $ 300.9 million , partially offset by ( 1 ) proceeds from stock plans of $ 113.3 million , and ( 2 ) the excess tax benefit from stock plans of $ 49.4 million ( including the realization of previously unrealized excess tax benefits ) . a summary of all of our contractual obligations and commercial commitments as of december 31 , 2016 were as follows ( in millions ) : .
|contractual obligations|payments due by period total|payments due by period less than1 year|payments due by period 1-3years|payments due by period 4-5years|payments due by period after 5years|
|debt|$ 825.0|$ 2014|$ 825.0|$ 2014|$ 2014|
|operating leases|72.6|22.3|24.9|8.8|16.6|
|interest on debt|30.8|16.4|14.4|2014|2014|
|pension obligations ( a )|6.1|6.1|2014|2014|2014|
|capital commitment obligations ( b )|0.6|0.3|0.3|2014|2014|
|purchase and other commitments|16.4|13.7|2.7|2014|2014|
|total contractual cash obligations ( c ) ( d )|$ 951.5|$ 58.8|$ 867.3|$ 8.8|$ 16.6|
( a ) the amount included in 2018 2018less than 1 year 2019 2019 reflects anticipated contributions to our various pension plans . anticipated contributions beyond one year are not determinable . the total accrued benefit liability for our pension plans recognized as of december 31 , 2016 was $ 50.1 million . this amount is impacted .
Question: what percentage of total contractual cash obligations is operating leases?
Answer: | 0.0763 | what percentage of total contractual cash obligations is operating leases? |
finqa1204 | Please answer the given financial question based on the context.
Context: investment tax credits have been deferred by the regulated utility subsidiaries and are being amortized to income over the average estimated service lives of the related assets . the company recognizes accrued interest and penalties related to tax positions as a component of income tax expense and accounts for sales tax collected from customers and remitted to taxing authorities on a net basis . see note 14 2014income taxes for additional information . allowance for funds used during construction afudc is a non-cash credit to income with a corresponding charge to utility plant that represents the cost of borrowed funds or a return on equity funds devoted to plant under construction . the regulated utility subsidiaries record afudc to the extent permitted by the pucs . the portion of afudc attributable to borrowed funds is shown as a reduction of interest , net on the consolidated statements of operations . any portion of afudc attributable to equity funds would be included in other , net on the consolidated statements of operations . afudc is provided in the following table for the years ended december 31: .
||2018|2017|2016|
|allowance for other funds used during construction|$ 24|$ 19|$ 15|
|allowance for borrowed funds used during construction|13|8|6|
environmental costs the company 2019s water and wastewater operations and the operations of its market-based businesses are subject to u.s . federal , state , local and foreign requirements relating to environmental protection , and as such , the company periodically becomes subject to environmental claims in the normal course of business . environmental expenditures that relate to current operations or provide a future benefit are expensed or capitalized as appropriate . remediation costs that relate to an existing condition caused by past operations are accrued , on an undiscounted basis , when it is probable that these costs will be incurred and can be reasonably estimated . a conservation agreement entered into by a subsidiary of the company with the national oceanic and atmospheric administration in 2010 and amended in 2017 required the subsidiary to , among other provisions , implement certain measures to protect the steelhead trout and its habitat in the carmel river watershed in the state of california . the subsidiary agreed to pay $ 1 million annually commencing in 2010 with the final payment being made in 2021 . remediation costs accrued amounted to $ 4 million and $ 6 million as of december 31 , 2018 and 2017 , respectively . derivative financial instruments the company uses derivative financial instruments for purposes of hedging exposures to fluctuations in interest rates . these derivative contracts are entered into for periods consistent with the related underlying exposures and do not constitute positions independent of those exposures . the company does not enter into derivative contracts for speculative purposes and does not use leveraged instruments . all derivatives are recognized on the balance sheet at fair value . on the date the derivative contract is entered into , the company may designate the derivative as a hedge of the fair value of a recognized asset or liability ( fair-value hedge ) or a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability ( cash-flow hedge ) . changes in the fair value of a fair-value hedge , along with the gain or loss on the underlying hedged item , are recorded in current-period earnings . the gains and losses on the effective portion of cash-flow hedges are recorded in other comprehensive income , until earnings are affected by the variability of cash flows . any ineffective portion of designated cash-flow hedges is recognized in current-period earnings. .
Question: what was 2018 allowance for borrowed funds used during construction as a percentage of allowance for other funds used during construction?
Answer: | 0.54167 | what was 2018 allowance for borrowed funds used during construction as a percentage of allowance for other funds used during construction? |
finqa1205 | Please answer the given financial question based on the context.
Context: management 2019s discussion and analysis 138 jpmorgan chase & co./2013 annual report the credit derivatives used in credit portfolio management activities do not qualify for hedge accounting under u.s . gaap ; these derivatives are reported at fair value , with gains and losses recognized in principal transactions revenue . in contrast , the loans and lending-related commitments being risk-managed are accounted for on an accrual basis . this asymmetry in accounting treatment , between loans and lending-related commitments and the credit derivatives used in credit portfolio management activities , causes earnings volatility that is not representative , in the firm 2019s view , of the true changes in value of the firm 2019s overall credit exposure . the effectiveness of the firm 2019s credit default swap ( 201ccds 201d ) protection as a hedge of the firm 2019s exposures may vary depending on a number of factors , including the named reference entity ( i.e. , the firm may experience losses on specific exposures that are different than the named reference entities in the purchased cds ) , and the contractual terms of the cds ( which may have a defined credit event that does not align with an actual loss realized by the firm ) and the maturity of the firm 2019s cds protection ( which in some cases may be shorter than the firm 2019s exposures ) . however , the firm generally seeks to purchase credit protection with a maturity date that is the same or similar to the maturity date of the exposure for which the protection was purchased , and remaining differences in maturity are actively monitored and managed by the firm . credit portfolio hedges the following table sets out the fair value related to the firm 2019s credit derivatives used in credit portfolio management activities , the fair value related to the cva ( which reflects the credit quality of derivatives counterparty exposure ) , as well as certain other hedges used in the risk management of cva . these results can vary from period-to- period due to market conditions that affect specific positions in the portfolio . net gains and losses on credit portfolio hedges year ended december 31 , ( in millions ) 2013 2012 2011 hedges of loans and lending- related commitments $ ( 142 ) $ ( 163 ) $ ( 32 ) .
|year ended december 31 ( in millions )|2013|2012|2011|
|hedges of loans and lending-related commitments|$ -142 ( 142 )|$ -163 ( 163 )|$ -32 ( 32 )|
|cva and hedges of cva|-130 ( 130 )|127|-769 ( 769 )|
|net gains/ ( losses )|$ -272 ( 272 )|$ -36 ( 36 )|$ -801 ( 801 )|
community reinvestment act exposure the community reinvestment act ( 201ccra 201d ) encourages banks to meet the credit needs of borrowers in all segments of their communities , including neighborhoods with low or moderate incomes . the firm is a national leader in community development by providing loans , investments and community development services in communities across the united states . at december 31 , 2013 and 2012 , the firm 2019s cra loan portfolio was approximately $ 18 billion and $ 16 billion , respectively . at december 31 , 2013 and 2012 , 50% ( 50 % ) and 62% ( 62 % ) , respectively , of the cra portfolio were residential mortgage loans ; 26% ( 26 % ) and 13% ( 13 % ) , respectively , were commercial real estate loans ; 16% ( 16 % ) and 18% ( 18 % ) , respectively , were business banking loans ; and 8% ( 8 % ) and 7% ( 7 % ) , respectively , were other loans . cra nonaccrual loans were 3% ( 3 % ) and 4% ( 4 % ) , respectively , of the firm 2019s total nonaccrual loans . for the years ended december 31 , 2013 and 2012 , net charge-offs in the cra portfolio were 1% ( 1 % ) and 3% ( 3 % ) , respectively , of the firm 2019s net charge-offs in both years. .
Question: in 2013 what was the percent of the total hedges of loans and lending- related commitments that was cva and hedges of cva
Answer: | 0.47794 | in 2013 what was the percent of the total hedges of loans and lending- related commitments that was cva and hedges of cva |
finqa1206 | Please answer the given financial question based on the context.
Context: the net decrease in the 2016 effective tax rate was due , in part , to the 2016 asset impairments in the u.s . and to the current year benefit related to a restructuring of one of our brazilian businesses that increases tax basis in long-term assets . further , the 2015 rate was impacted by the items described below . see note 20 2014asset impairment expense for additional information regarding the 2016 u.s . asset impairments . income tax expense increased $ 101 million , or 27% ( 27 % ) , to $ 472 million in 2015 . the company's effective tax rates were 41% ( 41 % ) and 26% ( 26 % ) for the years ended december 31 , 2015 and 2014 , respectively . the net increase in the 2015 effective tax rate was due , in part , to the nondeductible 2015 impairment of goodwill at our u.s . utility , dp&l and chilean withholding taxes offset by the release of valuation allowance at certain of our businesses in brazil , vietnam and the u.s . further , the 2014 rate was impacted by the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin aes pte ltd. , which owns the company 2019s business interests in the philippines and the 2014 sale of the company 2019s interests in four u.k . wind operating projects . neither of these transactions gave rise to income tax expense . see note 15 2014equity for additional information regarding the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin-aes pte ltd . see note 23 2014dispositions for additional information regarding the sale of the company 2019s interests in four u.k . wind operating projects . our effective tax rate reflects the tax effect of significant operations outside the u.s. , which are generally taxed at rates lower than the u.s . statutory rate of 35% ( 35 % ) . a future proportionate change in the composition of income before income taxes from foreign and domestic tax jurisdictions could impact our periodic effective tax rate . the company also benefits from reduced tax rates in certain countries as a result of satisfying specific commitments regarding employment and capital investment . see note 21 2014income taxes for additional information regarding these reduced rates . foreign currency transaction gains ( losses ) foreign currency transaction gains ( losses ) in millions were as follows: .
|years ended december 31,|2016|2015|2014|
|aes corporation|$ -50 ( 50 )|$ -31 ( 31 )|$ -34 ( 34 )|
|chile|-9 ( 9 )|-18 ( 18 )|-30 ( 30 )|
|colombia|-8 ( 8 )|29|17|
|mexico|-8 ( 8 )|-6 ( 6 )|-14 ( 14 )|
|philippines|12|8|11|
|united kingdom|13|11|12|
|argentina|37|124|66|
|other|-2 ( 2 )|-10 ( 10 )|-17 ( 17 )|
|total ( 1 )|$ -15 ( 15 )|$ 107|$ 11|
total ( 1 ) $ ( 15 ) $ 107 $ 11 _____________________________ ( 1 ) includes gains of $ 17 million , $ 247 million and $ 172 million on foreign currency derivative contracts for the years ended december 31 , 2016 , 2015 and 2014 , respectively . the company recognized a net foreign currency transaction loss of $ 15 million for the year ended december 31 , 2016 primarily due to losses of $ 50 million at the aes corporation mainly due to remeasurement losses on intercompany notes , and losses on swaps and options . this loss was partially offset by gains of $ 37 million in argentina , mainly due to the favorable impact of foreign currency derivatives related to government receivables . the company recognized a net foreign currency transaction gain of $ 107 million for the year ended december 31 , 2015 primarily due to gains of : 2022 $ 124 million in argentina , due to the favorable impact from foreign currency derivatives related to government receivables , partially offset by losses from the devaluation of the argentine peso associated with u.s . dollar denominated debt , and losses at termoandes ( a u.s . dollar functional currency subsidiary ) primarily associated with cash and accounts receivable balances in local currency , 2022 $ 29 million in colombia , mainly due to the depreciation of the colombian peso , positively impacting chivor ( a u.s . dollar functional currency subsidiary ) due to liabilities denominated in colombian pesos , 2022 $ 11 million in the united kingdom , mainly due to the depreciation of the pound sterling , resulting in gains at ballylumford holdings ( a u.s . dollar functional currency subsidiary ) associated with intercompany notes payable denominated in pound sterling , and .
Question: what was the change in millions between 2014 and 2015 of foreign currency transaction gains ( losses ) for aes corporation?
Answer: | 3.0 | what was the change in millions between 2014 and 2015 of foreign currency transaction gains ( losses ) for aes corporation? |
finqa1207 | Please answer the given financial question based on the context.
Context: certain options to purchase shares of devon 2019s common stock were excluded from the dilution calculations because the options were antidilutive . these excluded options totaled 2 million , 3 million and 0.2 million in 2007 , 2006 and 2005 , respectively . foreign currency translation adjustments the u.s . dollar is the functional currency for devon 2019s consolidated operations except its canadian subsidiaries , which use the canadian dollar as the functional currency . therefore , the assets and liabilities of devon 2019s canadian subsidiaries are translated into u.s . dollars based on the current exchange rate in effect at the balance sheet dates . canadian income and expenses are translated at average rates for the periods presented . translation adjustments have no effect on net income and are included in accumulated other comprehensive income in stockholders 2019 equity . the following table presents the balances of devon 2019s cumulative translation adjustments included in accumulated other comprehensive income ( in millions ) . .
|december 31 2004|$ 1054|
|december 31 2005|$ 1216|
|december 31 2006|$ 1219|
|december 31 2007|$ 2566|
statements of cash flows for purposes of the consolidated statements of cash flows , devon considers all highly liquid investments with original contractual maturities of three months or less to be cash equivalents . commitments and contingencies liabilities for loss contingencies arising from claims , assessments , litigation or other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated . liabilities for environmental remediation or restoration claims are recorded when it is probable that obligations have been incurred and the amounts can be reasonably estimated . expenditures related to such environmental matters are expensed or capitalized in accordance with devon 2019s accounting policy for property and equipment . reference is made to note 8 for a discussion of amounts recorded for these liabilities . recently issued accounting standards not yet adopted in december 2007 , the financial accounting standards board ( 201cfasb 201d ) issued statement of financial accounting standards no . 141 ( r ) , business combinations , which replaces statement no . 141 . statement no . 141 ( r ) retains the fundamental requirements of statement no . 141 that an acquirer be identified and the acquisition method of accounting ( previously called the purchase method ) be used for all business combinations . statement no . 141 ( r ) 2019s scope is broader than that of statement no . 141 , which applied only to business combinations in which control was obtained by transferring consideration . by applying the acquisition method to all transactions and other events in which one entity obtains control over one or more other businesses , statement no . 141 ( r ) improves the comparability of the information about business combinations provided in financial reports . statement no . 141 ( r ) establishes principles and requirements for how an acquirer recognizes and measures identifiable assets acquired , liabilities assumed and any noncontrolling interest in the acquiree , as well as any resulting goodwill . statement no . 141 ( r ) applies prospectively to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after december 15 , 2008 . devon will evaluate how the new requirements of statement no . 141 ( r ) would impact any business combinations completed in 2009 or thereafter . in december 2007 , the fasb also issued statement of financial accounting standards no . 160 , noncontrolling interests in consolidated financial statements 2014an amendment of accounting research bulletin no . 51 . a noncontrolling interest , sometimes called a minority interest , is the portion of equity in a subsidiary not attributable , directly or indirectly , to a parent . statement no . 160 establishes accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary . under statement no . 160 , noncontrolling interests in a subsidiary must be reported as a component of consolidated equity separate from the parent 2019s equity . additionally , the amounts of consolidated net income attributable to both the parent and the noncontrolling interest must be reported separately on the face of the income statement . statement no . 160 is effective for fiscal years beginning on or after december 15 , 2008 and earlier adoption is prohibited . devon does not expect the adoption of statement no . 160 to have a material impact on its financial statements and related disclosures. .
Question: what was the ratio of the devon 2019s cumulative translation adjustments included in accumulated other comprehensive income for 2005 to 2004
Answer: | 1.1537 | what was the ratio of the devon 2019s cumulative translation adjustments included in accumulated other comprehensive income for 2005 to 2004 |
finqa1208 | Please answer the given financial question based on the context.
Context: year ended december 31 , 2006 compared to year ended december 31 , 2005 net revenues increased $ 149.6 million , or 53.2% ( 53.2 % ) , to $ 430.7 million in 2006 from $ 281.1 million in 2005 . this increase was the result of increases in both our net sales and license revenues as noted in the product category table below. .
|( in thousands )|year ended december 31 , 2006|year ended december 31 , 2005|year ended december 31 , $ change|year ended december 31 , % ( % ) change|
|men 2019s|$ 255681|$ 189596|$ 66085|34.9% ( 34.9 % )|
|women 2019s|85695|53500|32195|60.2% ( 60.2 % )|
|youth|31845|18784|13061|69.5% ( 69.5 % )|
|apparel|373221|261880|111341|42.5% ( 42.5 % )|
|footwear|26874|2014|26874|2014|
|accessories|14897|9409|5488|58.3% ( 58.3 % )|
|total net sales|414992|271289|143703|53.0% ( 53.0 % )|
|license revenues|15697|9764|5933|60.8% ( 60.8 % )|
|total net revenues|$ 430689|$ 281053|$ 149636|53.2% ( 53.2 % )|
net sales increased $ 143.7 million , or 53.0% ( 53.0 % ) , to $ 415.0 million for the year ended december 31 , 2006 from $ 271.3 million during the same period in 2005 as noted in the table above . the increase in net sales primarily reflects : 2022 $ 26.9 million of footwear product sales , primarily football cleats introduced in the second quarter of 2006 , and baseball cleats introduced in the fourth quarter of 2006 ; 2022 continued unit volume growth of our existing products , such as coldgear ae compression products , primarily sold to existing retail customers due to additional retail stores and expanded floor space ; 2022 growth in the average selling price of apparel products within all categories ; 2022 increased women 2019s and youth market penetration by leveraging current customer relationships ; and 2022 product introductions subsequent to december 31 , 2005 within all product categories , most significantly in our compression and training products . license revenues increased $ 5.9 million , or 60.8% ( 60.8 % ) , to $ 15.7 million for the year ended december 31 , 2006 from $ 9.8 million during the same period in 2005 . this increase in license revenues was a result of increased sales by our licensees due to increased distribution , continued unit volume growth , new product offerings and new licensing agreements , which included distribution of products to college bookstores and golf pro shops . gross profit increased $ 79.7 million to $ 215.6 million in 2006 from $ 135.9 million in 2005 . gross profit as a percentage of net revenues , or gross margin , increased approximately 180 basis points to 50.1% ( 50.1 % ) in 2006 from 48.3% ( 48.3 % ) in 2005 . this increase in gross margin was primarily driven by the following : 2022 lower product costs as a result of variations in product mix and greater supplier discounts for increased volume and lower cost sourcing arrangements , accounting for an approximate 170 basis point increase ; 2022 decreased close-out sales in the 2006 period compared to the 2005 period , accounting for an approximate 70 basis point increase ; 2022 lower customer incentives as a percentage of net revenues , primarily driven by changes to certain customer agreements which decreased discounts while increasing certain customer marketing expenditures recorded in selling , general and administrative expenses , accounting for an approximate 70 basis point increase; .
Question: in 2006 what was the percent of the total net revenues by product category from men
Answer: | 0.59366 | in 2006 what was the percent of the total net revenues by product category from men |
finqa1209 | Please answer the given financial question based on the context.
Context: american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) future minimum rental receipts expected from customers under non-cancelable operating lease agreements in effect at december 31 , 2006 are as follows ( in thousands ) : year ending december 31 .
|2007|$ 1131677|
|2008|1127051|
|2009|1091778|
|2010|959828|
|2011|769028|
|thereafter|2305040|
|total|$ 7384402|
legal and governmental proceedings related to review of stock option granting practices and related accounting 2014on may 18 , 2006 , the company received a letter of informal inquiry from the sec division of enforcement requesting documents related to company stock option grants and stock option practices . the inquiry is focused on stock options granted to senior management and members of the company 2019s board of directors during the period 1997 to the present . the company continues to cooperate with the sec to provide the requested information and documents . on may 19 , 2006 , the company received a subpoena from the united states attorney 2019s office for the eastern district of new york for records and information relating to its stock option granting practices . the subpoena requests materials related to certain stock options granted between 1995 and the present . the company continues to cooperate with the u.s . attorney 2019s office to provide the requested information and documents . on may 26 , 2006 , a securities class action was filed in united states district court for the district of massachusetts against the company and certain of its current officers by john s . greenebaum for monetary relief . specifically , the complaint names the company , james d . taiclet , jr . and bradley e . singer as defendants and alleges that the defendants violated federal securities laws in connection with public statements made relating to the company 2019s stock option practices and related accounting . the complaint asserts claims under sections 10 ( b ) and 20 ( a ) of the securities exchange act of 1934 , as amended ( exchange act ) and sec rule 10b-5 . in december 2006 , the court appointed the steamship trade association-international longshoreman 2019s association pension fund as the lead plaintiff . on may 24 , 2006 and june 14 , 2006 , two shareholder derivative lawsuits were filed in suffolk county superior court in massachusetts by eric johnston and robert l . garber , respectively . the lawsuits were filed against certain of the company 2019s current and former officers and directors for alleged breaches of fiduciary duties and unjust enrichment in connection with the company 2019s stock option granting practices . the lawsuits also name the company as a nominal defendant . the lawsuits seek to recover the damages sustained by the company and disgorgement of all profits received with respect to the alleged backdated stock options . in october 2006 , these two lawsuits were consolidated and transferred to the court 2019s business litigation session . on june 13 , 2006 , june 22 , 2006 and august 23 , 2006 , three shareholder derivative lawsuits were filed in united states district court for the district of massachusetts by new south wales treasury corporation , as trustee for the alpha international managers trust , frank c . kalil and don holland , and leslie cramer , respectively . the lawsuits were filed against certain of the company 2019s current and former officers and directors for alleged breaches of fiduciary duties , waste of corporate assets , gross mismanagement and unjust enrichment in connection with the company 2019s stock option granting practices . the lawsuits also name the company as a nominal defendant . in december 2006 , the court consolidated these three lawsuits and appointed new south wales treasury corporation as the lead plaintiff . on february 9 , 2007 , the plaintiffs filed a consolidated .
Question: what portion of the total future minimum rental receipts is expected to be collected in the next 12 months?
Answer: | 0.15325 | what portion of the total future minimum rental receipts is expected to be collected in the next 12 months? |
finqa1210 | Please answer the given financial question based on the context.
Context: future minimum lease commitments for office premises and equipment under non-cancelable leases , along with minimum sublease rental income to be received under non-cancelable subleases , are as follows : period rent obligations sublease rental income net rent .
|period|rent obligations|sublease rental income|net rent|
|2008|$ 323.9|$ -40.9 ( 40.9 )|$ 283.0|
|2009|300.9|-37.5 ( 37.5 )|263.4|
|2010|267.7|-31.0 ( 31.0 )|236.7|
|2011|233.7|-25.7 ( 25.7 )|208.0|
|2012|197.9|-20.2 ( 20.2 )|177.7|
|2013 and thereafter|871.0|-33.1 ( 33.1 )|837.9|
|total|$ 2195.1|$ -188.4 ( 188.4 )|$ 2006.7|
guarantees we have certain contingent obligations under guarantees of certain of our subsidiaries ( 201cparent company guarantees 201d ) relating principally to credit facilities , guarantees of certain media payables and operating leases . the amount of such parent company guarantees was $ 327.1 and $ 327.9 as of december 31 , 2007 and 2006 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2007 , there are no material assets pledged as security for such parent company guarantees . contingent acquisition obligations we have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity . in addition , we have entered into agreements that may require us to purchase additional equity interests in certain consolidated and unconsolidated subsidiaries . the amounts relating to these transactions are based on estimates of the future financial performance of the acquired entity , the timing of the exercise of these rights , changes in foreign currency exchange rates and other factors . we have not recorded a liability for these items since the definitive amounts payable are not determinable or distributable . when the contingent acquisition obligations have been met and consideration is determinable and distributable , we record the fair value of this consideration as an additional cost of the acquired entity . however , we recognize deferred payments and purchases of additional interests after the effective date of purchase that are contingent upon the future employment of owners as compensation expense . compensation expense is determined based on the terms and conditions of the respective acquisition agreements and employment terms of the former owners of the acquired businesses . this future expense will not be allocated to the assets and liabilities acquired and is amortized over the required employment terms of the former owners . the following table details the estimated liability with respect to our contingent acquisition obligations and the estimated amount that would be paid under the options , in the event of exercise at the earliest exercise date . all payments are contingent upon achieving projected operating performance targets and satisfying other notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) .
Question: what portion of total rent obligations will be paid-off through sublease rental income?
Answer: | 0.08583 | what portion of total rent obligations will be paid-off through sublease rental income? |
finqa1211 | Please answer the given financial question based on the context.
Context: 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 ) : .
|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|
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. .
Question: what is the average tax benefit , in millions?
Answer: | 71.33333 | what is the average tax benefit , in millions? |
finqa1212 | Please answer the given financial question based on the context.
Context: asia-pacific acquisition on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc . this business provides card payment processing services to merchants in the asia-pacific region . the business includes hsbc 2019s payment processing operations in the following ten countries and territories : brunei , china , hong kong , india , macau , malaysia , maldives , singapore , sri lanka and taiwan . under the terms of the agreement , we initially paid hsbc $ 67.2 million in cash to acquire our ownership interest . we paid an additional $ 1.4 million under this agreement during fiscal 2007 , for a total purchase price of $ 68.6 million to acquire our ownership interest . in conjunction with this acquisition , we entered into a transition services agreement with hsbc that may be terminated at any time . under this agreement , we expect hsbc will continue to perform payment processing operations and related support services until we integrate these functions into our own operations , which we expect will be completed in 2010 . the operating results of this acquisition are included in our consolidated statements of income from the date of the acquisition . business description we are a leading payment processing and consumer money transfer company . as a high-volume processor of electronic transactions , we enable merchants , multinational corporations , financial institutions , consumers , government agencies and other profit and non-profit business enterprises to facilitate payments to purchase goods and services or further other economic goals . our role is to serve as an intermediary in the exchange of information and funds that must occur between parties so that a payment transaction or money transfer can be completed . we were incorporated in georgia as global payments inc . in september 2000 , and we spun-off from our former parent company on january 31 , 2001 . including our time as part of our former parent company , we have provided transaction processing services since 1967 . we market our products and services throughout the united states , canada , europe and the asia-pacific region . we operate in two business segments , merchant services and money transfer , and we offer various products through these segments . our merchant services segment targets customers in many vertical industries including financial institutions , gaming , government , health care , professional services , restaurants , retail , universities and utilities . our money transfer segment primarily targets immigrants in the united states and europe . see note 10 in the notes to consolidated financial statements for additional segment information and 201citem 1a 2014risk factors 201d for a discussion of risks involved with our international operations . total revenues from our merchant services and money transfer segments , by geography and sales channel , are as follows ( amounts in thousands ) : .
||2007|2006|2005|
|domestic direct|$ 558026|$ 481273|$ 410047|
|canada|224570|208126|175190|
|asia-pacific|48449|2014|2014|
|central and eastern europe|51224|47114|40598|
|domestic indirect and other|46873|51987|62033|
|merchant services|929142|788500|687868|
|domestic|115416|109067|91448|
|europe|16965|10489|5015|
|money transfer|132381|119556|96463|
|total revenues|$ 1061523|$ 908056|$ 784331|
.
Question: what percent of total revenues was represented by merchant services in 2006?
Answer: | 0.86834 | what percent of total revenues was represented by merchant services in 2006? |
finqa1213 | Please answer the given financial question based on the context.
Context: abiomed , inc . and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 3 . acquisitions ( continued ) including the revenues of third-party licensees , or ( ii ) the company 2019s sale of ( a ) ecp , ( b ) all or substantially all of ecp 2019s assets , or ( c ) certain of ecp 2019s patent rights , the company will pay to syscore the lesser of ( x ) one-half of the profits earned from such sale described in the foregoing item ( ii ) , after accounting for the costs of acquiring and operating ecp , or ( y ) $ 15.0 million ( less any previous milestone payment ) . ecp 2019s acquisition of ais gmbh aachen innovative solutions in connection with the company 2019s acquisition of ecp , ecp acquired all of the share capital of ais gmbh aachen innovative solutions ( 201cais 201d ) , a limited liability company incorporated in germany , pursuant to a share purchase agreement dated as of june 30 , 2014 , by and among ecp and ais 2019s four individual shareholders . ais , based in aachen , germany , holds certain intellectual property useful to ecp 2019s business , and , prior to being acquired by ecp , had licensed such intellectual property to ecp . the purchase price for the acquisition of ais 2019s share capital was approximately $ 2.8 million in cash , which was provided by the company , and the acquisition closed immediately prior to abiomed europe 2019s acquisition of ecp . the share purchase agreement contains representations , warranties and closing conditions customary for transactions of its size and nature . purchase price allocation the acquisition of ecp and ais was accounted for as a business combination . the purchase price for the acquisition has been allocated to the assets acquired and liabilities assumed based on their estimated fair values . the acquisition-date fair value of the consideration transferred is as follows : acquisition date fair value ( in thousands ) .
||total acquisition date fair value ( in thousands )|
|cash consideration|$ 15750|
|contingent consideration|6000|
|total consideration transferred|$ 21750|
.
Question: for the ecp and ais transactions , what portion of the total consideration was paid immediately in cash?
Answer: | 0.72414 | for the ecp and ais transactions , what portion of the total consideration was paid immediately in cash? |
finqa1214 | Please answer the given financial question based on the context.
Context: restricted unit awards in 2010 and 2009 , the hartford issued restricted units as part of the hartford 2019s 2005 stock plan . restricted stock unit awards under the plan have historically been settled in shares , but under this award will be settled in cash and are thus referred to as 201crestricted units 201d . the economic value recipients will ultimately realize will be identical to the value that would have been realized if the awards had been settled in shares , i.e. , upon settlement , recipients will receive cash equal to the hartford 2019s share price multiplied by the number of restricted units awarded . because restricted units will be settled in cash , the awards are remeasured at the end of each reporting period until settlement . awards granted in 2009 vested after a three year period . awards granted in 2010 include both graded and cliff vesting restricted units which vest over a three year period . the graded vesting attribution method is used to recognize the expense of the award over the requisite service period . for example , the graded vesting attribution method views one three-year grant with annual graded vesting as three separate sub-grants , each representing one third of the total number of awards granted . the first sub-grant vests over one year , the second sub-grant vests over two years and the third sub-grant vests over three years . there were no restricted units awarded for 2013 or 2012 . as of december 31 , 2013 and 2012 , 27 thousand and 832 thousand restricted units were outstanding , respectively . deferred stock unit plan effective july 31 , 2009 , the compensation and management development committee of the board authorized the hartford deferred stock unit plan ( 201cdeferred stock unit plan 201d ) , and , on october 22 , 2009 , it was amended . the deferred stock unit plan provides for contractual rights to receive cash payments based on the value of a specified number of shares of stock . the deferred stock unit plan provides for two award types , deferred units and restricted units . deferred units are earned ratably over a year , based on the number of regular pay periods occurring during such year . deferred units are credited to the participant's account on a quarterly basis based on the market price of the company 2019s common stock on the date of grant and are fully vested at all times . deferred units credited to employees prior to january 1 , 2010 ( other than senior executive officers hired on or after october 1 , 2009 ) are not paid until after two years from their grant date . deferred units credited on or after january 1 , 2010 ( and any credited to senior executive officers hired on or after october 1 , 2009 ) are paid in three equal installments after the first , second and third anniversaries of their grant date . restricted units are intended to be incentive compensation and , unlike deferred units , vest over time , generally three years , and are subject to forfeiture . the deferred stock unit plan is structured consistent with the limitations and restrictions on employee compensation arrangements imposed by the emergency economic stabilization act of 2008 and the tarp standards for compensation and corporate governance interim final rule issued by the u.s . department of treasury on june 10 , 2009 . there were no deferred stock units awarded in 2013 or 2012 . a summary of the status of the company 2019s non-vested awards under the deferred stock unit plan as of december 31 , 2013 , is presented below : non-vested units restricted units ( in thousands ) weighted-average grant-date fair value .
|non-vested units|restricted units ( in thousands )|weighted-average grant-date fair value|
|non-vested at beginning of year|309|25.08|
|granted|2014|2014|
|vested|-306 ( 306 )|25.04|
|forfeited|-3 ( 3 )|28.99|
|non-vested at end of year|2014|$ 2014|
subsidiary stock plan in 2013 the hartford established a subsidiary stock-based compensation plan similar to the hartford 2010 incentive stock plan except that it awards non-public subsidiary stock as compensation . the company recognized stock-based compensation plans expense of $ 1 in the year ended december 31 , 2013 for the subsidiary stock plan . upon employee vesting of subsidiary stock , the company will recognize a noncontrolling equity interest . employees will be restricted from selling vested subsidiary stock to other than the company and the company will have discretion on the amount of stock to repurchase . therefore the subsidiary stock will be classified as equity because it is not mandatorily redeemable . table of contents the hartford financial services group , inc . notes to consolidated financial statements ( continued ) 19 . stock compensation plans ( continued ) .
Question: what is the total value of the forfeited units?
Answer: | 86.97 | what is the total value of the forfeited units? |
finqa1215 | Please answer the given financial question based on the context.
Context: interest rate derivatives . in connection with the issuance of floating rate debt in august and october 2008 , the company entered into three interest rate swap contracts , designated as cash flow hedges , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate . in december 2010 , the company approved a plan to refinance the term loan in january 2011 resulting in an $ 8.6 million loss on derivative instruments as a result of ineffectiveness on the associated interest rate swap contract . to mitigate counterparty credit risk , the interest rate swap contracts required collateralization by both counterparties for the swaps 2019 aggregate net fair value during their respective terms . collateral was maintained in the form of cash and adjusted on a daily basis . in february 2010 , the company entered into a forward starting interest rate swap contract , designated as a cash flow hedge , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate between the date of the swap and the forecasted issuance of fixed rate debt in march 2010 . the swap was highly effective . foreign currency derivatives . in connection with its purchase of bm&fbovespa stock in february 2008 , cme group purchased a put option to hedge against changes in the fair value of bm&fbovespa stock resulting from foreign currency rate fluctuations between the u.s . dollar and the brazilian real ( brl ) beyond the option 2019s exercise price . lehman brothers special financing inc . ( lbsf ) was the sole counterparty to this option contract . on september 15 , 2008 , lehman brothers holdings inc . ( lehman ) filed for protection under chapter 11 of the united states bankruptcy code . the bankruptcy filing of lehman was an event of default that gave the company the right to immediately terminate the put option agreement with lbsf . in march 2010 , the company recognized a $ 6.0 million gain on derivative instruments as a result of a settlement from the lehman bankruptcy proceedings . 21 . capital stock shares outstanding . the following table presents information regarding capital stock: .
|( in thousands )|december 31 , 2010|december 31 , 2009|
|shares authorized|1000000|1000000|
|class a common stock|66847|66511|
|class b-1 common stock|0.6|0.6|
|class b-2 common stock|0.8|0.8|
|class b-3 common stock|1.3|1.3|
|class b-4 common stock|0.4|0.4|
cme group has no shares of preferred stock issued and outstanding . associated trading rights . members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access the trading floors , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents . each class of cme group class b common stock is associated with a membership in a specific division for trading at cme . a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group . the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below . trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships in comex . members of the cbot , nymex and comex exchanges do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships . the company is , however , required to have at least 10 cbot directors ( as defined by its bylaws ) until its 2012 annual meeting. .
Question: what is the percentage of class b-3 common stock in relation with the total class b common stocks in 2009?
Answer: | 0.41935 | what is the percentage of class b-3 common stock in relation with the total class b common stocks in 2009? |
finqa1216 | Please answer the given financial question based on the context.
Context: determined that it will primarily be subject to the ietu in future periods , and as such it has recorded tax expense of approximately $ 20 million in 2007 for the deferred tax effects of the new ietu system . as of december 31 , 2007 , the company had us federal net operating loss carryforwards of approximately $ 206 million which will begin to expire in 2023 . of this amount , $ 47 million relates to the pre-acquisition period and is subject to limitation . the remaining $ 159 million is subject to limitation as a result of the change in stock ownership in may 2006 . this limitation is not expected to have a material impact on utilization of the net operating loss carryforwards . the company also had foreign net operating loss carryforwards as of december 31 , 2007 of approximately $ 564 million for canada , germany , mexico and other foreign jurisdictions with various expiration dates . net operating losses in canada have various carryforward periods and began expiring in 2007 . net operating losses in germany have no expiration date . net operating losses in mexico have a ten year carryforward period and begin to expire in 2009 . however , these losses are not available for use under the new ietu tax regulations in mexico . as the ietu is the primary system upon which the company will be subject to tax in future periods , no deferred tax asset has been reflected in the balance sheet as of december 31 , 2007 for these income tax loss carryforwards . the company adopted the provisions of fin 48 effective january 1 , 2007 . fin 48 clarifies the accounting for income taxes by prescribing a minimum recognition threshold a tax benefit is required to meet before being recognized in the financial statements . fin 48 also provides guidance on derecognition , measurement , classification , interest and penalties , accounting in interim periods , disclosure and transition . as a result of the implementation of fin 48 , the company increased retained earnings by $ 14 million and decreased goodwill by $ 2 million . in addition , certain tax liabilities for unrecognized tax benefits , as well as related potential penalties and interest , were reclassified from current liabilities to long-term liabilities . liabilities for unrecognized tax benefits as of december 31 , 2007 relate to various us and foreign jurisdictions . a reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows : year ended december 31 , 2007 ( in $ millions ) .
||year ended december 31 2007 ( in $ millions )|
|balance as of january 1 2007|193|
|increases in tax positions for the current year|2|
|increases in tax positions for prior years|28|
|decreases in tax positions of prior years|-21 ( 21 )|
|settlements|-2 ( 2 )|
|balance as of december 31 2007|200|
included in the unrecognized tax benefits of $ 200 million as of december 31 , 2007 is $ 56 million of tax benefits that , if recognized , would reduce the company 2019s effective tax rate . the company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes . as of december 31 , 2007 , the company has recorded a liability of approximately $ 36 million for interest and penalties . this amount includes an increase of approximately $ 13 million for the year ended december 31 , 2007 . the company operates in the united states ( including multiple state jurisdictions ) , germany and approximately 40 other foreign jurisdictions including canada , china , france , mexico and singapore . examinations are ongoing in a number of those jurisdictions including , most significantly , in germany for the years 2001 to 2004 . during the quarter ended march 31 , 2007 , the company received final assessments in germany for the prior examination period , 1997 to 2000 . the effective settlement of those examinations resulted in a reduction to goodwill of approximately $ 42 million with a net expected cash outlay of $ 29 million . the company 2019s celanese corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) %%transmsg*** transmitting job : y48011 pcn : 122000000 ***%%pcmsg|f-49 |00023|yes|no|02/26/2008 22:07|0|0|page is valid , no graphics -- color : d| .
Question: what is the percentage change in the balance of unrecognized tax benefits during 2007?
Answer: | 0.03627 | what is the percentage change in the balance of unrecognized tax benefits during 2007? |
finqa1217 | Please answer the given financial question based on the context.
Context: the grand gulf recovery variance is primarily due to increased recovery of higher costs resulting from the grand gulf uprate . the volume/weather variance is primarily due to the effects of more favorable weather on residential sales and an increase in industrial sales primarily due to growth in the refining segment . the fuel recovery variance is primarily due to : 2022 the deferral of increased capacity costs that will be recovered through fuel adjustment clauses ; 2022 the expiration of the evangeline gas contract on january 1 , 2013 ; and 2022 an adjustment to deferred fuel costs recorded in the third quarter 2012 in accordance with a rate order from the puct issued in september 2012 . see note 2 to the financial statements for further discussion of this puct order issued in entergy texas's 2011 rate case . the miso deferral variance is primarily due to the deferral in april 2013 , as approved by the apsc , of costs incurred since march 2010 related to the transition and implementation of joining the miso rto . the decommissioning trusts variance is primarily due to lower regulatory credits resulting from higher realized income on decommissioning trust fund investments . there is no effect on net income as the credits are offset by interest and investment income . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2013 to 2012 . amount ( in millions ) .
||amount ( in millions )|
|2012 net revenue|$ 1854|
|mark-to-market|-58 ( 58 )|
|nuclear volume|-24 ( 24 )|
|nuclear fuel expenses|-20 ( 20 )|
|nuclear realized price changes|58|
|other|-8 ( 8 )|
|2013 net revenue|$ 1802|
as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 52 million in 2013 primarily due to : 2022 the effect of rising forward power prices on electricity derivative instruments that are not designated as hedges , including additional financial power sales conducted in the fourth quarter 2013 to offset the planned exercise of in-the-money protective call options and to lock in margins . these additional sales did not qualify for hedge accounting treatment , and increases in forward prices after those sales were made accounted for the majority of the negative mark-to-market variance . it is expected that the underlying transactions will result in earnings in first quarter 2014 as these positions settle . see note 16 to the financial statements for discussion of derivative instruments ; 2022 the decrease in net revenue compared to prior year resulting from the exercise of resupply options provided for in purchase power agreements where entergy wholesale commodities may elect to supply power from another source when the plant is not running . amounts related to the exercise of resupply options are included in the gwh billed in the table below ; and entergy corporation and subsidiaries management's financial discussion and analysis .
Question: what is the growth rate in net revenue for entergy wholesale commodities in 2013?
Answer: | -0.02805 | what is the growth rate in net revenue for entergy wholesale commodities in 2013? |
finqa1218 | Please answer the given financial question based on the context.
Context: item 7 . management 2019s discussion and analysis of financial condition and results of operations introduction the following discussion and analysis presents management 2019s perspective of our business , financial condition and overall performance . this information is intended to provide investors with an understanding of our past performance , current financial condition and outlook for the future and should be read in conjunction with 201citem 8 . financial statements and supplementary data 201d of this report . overview of 2017 results during 2017 , we generated solid operating results with our strategy of operating in north america 2019s best resource plays , delivering superior execution , continuing disciplined capital allocation and maintaining a high degree of financial strength . led by our development in the stack and delaware basin , we continued to improve our 90-day initial production rates . with investments in proprietary data tools , predictive analytics and artificial intelligence , we are delivering industry-leading , initial-rate well productivity performance and improving the performance of our established wells . compared to 2016 , commodity prices increased significantly and were the primary driver for improvements in devon 2019s earnings and cash flow during 2017 . we exited 2017 with liquidity comprised of $ 2.7 billion of cash and $ 2.9 billion of available credit under our senior credit facility . we have no significant debt maturities until 2021 . we further enhanced our financial strength by completing approximately $ 415 million of our announced $ 1 billion asset divestiture program in 2017 . we anticipate closing the remaining divestitures in 2018 . in 2018 and beyond , we have the financial capacity to further accelerate investment across our best-in-class u.s . resource plays . we are increasing drilling activity and will continue to shift our production mix to high-margin products . we will continue our premier technical work to drive capital allocation and efficiency and industry- leading well productivity results . we will continue to maximize the value of our base production by sustaining the operational efficiencies we have achieved . finally , we will continue to manage activity levels within our cash flows . we expect this disciplined approach will position us to deliver capital-efficient , cash-flow expansion over the next two years . key measures of our financial performance in 2017 are summarized in the following table . increased commodity prices as well as continued focus on our production expenses improved our 2017 financial performance as compared to 2016 , as seen in the table below . more details for these metrics are found within the 201cresults of operations 2013 2017 vs . 2016 201d , below. .
|net earnings ( loss ) attributable to devon|2017 $ 898|change +185% ( +185 % )|2016* $ -1056 ( 1056 )|change +92% ( +92 % )|2015* $ -12896 ( 12896 )|
|net earnings ( loss ) per diluted share attributable to devon|$ 1.70|+181% ( +181 % )|$ -2.09 ( 2.09 )|+93% ( +93 % )|$ -31.72 ( 31.72 )|
|core earnings ( loss ) attributable to devon ( 1 )|$ 427|+217% ( +217 % )|$ -367 ( 367 )|- 430% ( 430 % )|$ 111|
|core earnings ( loss ) per diluted share attributable to devon ( 1 )|$ 0.81|+210% ( +210 % )|$ -0.73 ( 0.73 )|- 382% ( 382 % )|$ 0.26|
|retained production ( mboe/d )|541|- 4% ( 4 % )|563|- 3% ( 3 % )|580|
|total production ( mboe/d )|543|- 11% ( 11 % )|611|- 10% ( 10 % )|680|
|realized price per boe ( 2 )|$ 25.96|+39% ( +39 % )|$ 18.72|- 14% ( 14 % )|$ 21.68|
|operating cash flow|$ 2909|+94% ( +94 % )|$ 1500|- 69% ( 69 % )|$ 4898|
|capitalized expenditures including acquisitions|$ 2937|- 25% ( 25 % )|$ 3908|- 32% ( 32 % )|$ 5712|
|shareholder and noncontrolling interests distributions|$ 481|- 8% ( 8 % )|$ 525|- 19% ( 19 % )|$ 650|
|cash and cash equivalents|$ 2673|+36% ( +36 % )|$ 1959|- 15% ( 15 % )|$ 2310|
|total debt|$ 10406|+2% ( +2 % )|$ 10154|- 22% ( 22 % )|$ 13032|
|reserves ( mmboe )|2152|+5% ( +5 % )|2058|- 6% ( 6 % )|2182|
.
Question: what is the ratio of operating cash flow to total debt in 2016?
Answer: | 6.76933 | what is the ratio of operating cash flow to total debt in 2016? |
finqa1219 | Please answer the given financial question based on the context.
Context: levels during 2008 , an indication that efforts to improve network operations translated into better customer service . 2022 fuel prices 2013 crude oil prices increased at a steady rate through the first seven months of 2008 , closing at a record high of $ 145.29 a barrel in early july . as the economy worsened during the third and fourth quarters , fuel prices dropped dramatically , hitting $ 33.87 per barrel in december , a near five-year low . despite these price declines toward the end of the year , our 2008 average fuel price increased by 39% ( 39 % ) and added $ 1.1 billion of operating expenses compared to 2007 . our fuel surcharge programs helped offset the impact of higher fuel prices . in addition , we reduced our consumption rate by 4% ( 4 % ) , saving approximately 58 million gallons of fuel during the year . the use of newer , more fuel efficient locomotives ; our fuel conservation programs ; improved network operations ; and a shift in commodity mix , primarily due to growth in bulk shipments , contributed to the improvement . 2022 free cash flow 2013 cash generated by operating activities totaled a record $ 4.1 billion , yielding free cash flow of $ 825 million in 2008 . free cash flow is defined as cash provided by operating activities , less cash used in investing activities and dividends paid . free cash flow is not considered a financial measure under accounting principles generally accepted in the united states ( gaap ) by sec regulation g and item 10 of sec regulation s-k . we believe free cash flow is important in evaluating our financial performance and measures our ability to generate cash without additional external financings . free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities . the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions of dollars 2008 2007 2006 .
|millions of dollars|2008|2007|2006|
|cash provided by operating activities|$ 4070|$ 3277|$ 2880|
|cash used in investing activities|-2764 ( 2764 )|-2426 ( 2426 )|-2042 ( 2042 )|
|dividends paid|-481 ( 481 )|-364 ( 364 )|-322 ( 322 )|
|free cash flow|$ 825|$ 487|$ 516|
2009 outlook 2022 safety 2013 operating a safe railroad benefits our employees , our customers , our shareholders , and the public . we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , and training and engaging our employees . we plan to continue implementation of total safety culture ( tsc ) throughout our operations . tsc , an employee-focused initiative that has helped improve safety , is a process designed to establish , maintain , and promote safety among co-workers . with respect to public safety , we will continue our efforts to maintain , upgrade , and close crossings , install video cameras on locomotives , and educate the public about crossing safety through various railroad and industry programs , along with other activities . 2022 transportation plan 2013 in 2009 , we will continue to evaluate traffic flows and network logistic patterns to identify additional opportunities to simplify operations and improve network efficiency and asset utilization . we plan to maintain adequate manpower and locomotives , and improve productivity using industrial engineering techniques . 2022 fuel prices 2013 on average , we expect fuel prices to decrease substantially from the average price we paid in 2008 . however , due to economic uncertainty , other global pressures , and weather incidents , fuel prices again could be volatile during the year . to reduce the impact of fuel price on earnings , we .
Question: what was the percent of the cash provided by operating activities
Answer: | 0.13785 | what was the percent of the cash provided by operating activities |
finqa1220 | Please answer the given financial question based on the context.
Context: as of december 31 , 2017 , the aggregate future minimum payments under non-cancelable operating leases consist of the following ( in thousands ) : years ending december 31 .
|2018|$ 9127|
|2019|8336|
|2020|8350|
|2021|7741|
|2022|7577|
|thereafter|9873|
|total minimum future lease payments|$ 51004|
rent expense for all operating leases amounted to $ 9.4 million , $ 8.1 million and $ 5.4 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . financing obligation 2014build-to-suit lease in august 2012 , we executed a lease for a building then under construction in santa clara , california to serve as our headquarters . the lease term is 120 months and commenced in august 2013 . based on the terms of the lease agreement and due to our involvement in certain aspects of the construction , we were deemed the owner of the building ( for accounting purposes only ) during the construction period . upon completion of construction in 2013 , we concluded that we had forms of continued economic involvement in the facility , and therefore did not meet with the provisions for sale-leaseback accounting . we continue to maintain involvement in the property post construction and lack transferability of the risks and rewards of ownership , due to our required maintenance of a $ 4.0 million letter of credit , in addition to our ability and option to sublease our portion of the leased building for fees substantially higher than our base rate . therefore , the lease is accounted for as a financing obligation and lease payments will be attributed to ( 1 ) a reduction of the principal financing obligation ; ( 2 ) imputed interest expense ; and ( 3 ) land lease expense , representing an imputed cost to lease the underlying land of the building . at the conclusion of the initial lease term , we will de-recognize both the net book values of the asset and the remaining financing obligation . as of december 31 , 2017 and 2016 , we have recorded assets of $ 53.4 million , representing the total costs of the building and improvements incurred , including the costs paid by the lessor ( the legal owner of the building ) and additional improvement costs paid by us , and a corresponding financing obligation of $ 39.6 million and $ 41.2 million , respectively . as of december 31 , 2017 , $ 1.9 million and $ 37.7 million were recorded as short-term and long-term financing obligations , respectively . land lease expense under our lease financing obligation amounted to $ 1.3 million for each of the years ended december 31 , 2017 , 2016 and 2015 respectively. .
Question: what was the ratio of the 2018 to the 2019 future minimum payments under non-cancelable operating leases
Answer: | 1.09489 | what was the ratio of the 2018 to the 2019 future minimum payments under non-cancelable operating leases |
finqa1221 | Please answer the given financial question based on the context.
Context: issuer purchases of equity securities during the three months ended december 31 , 2010 , we repurchased 1460682 shares of our common stock for an aggregate of $ 74.6 million , including commissions and fees , pursuant to our publicly announced 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 approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .
|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|approximate dollar value of shares that may yet be purchasedunder the plans or programs ( in millions )|
|october 2010|722890|$ 50.76|722890|$ 369.1|
|november 2010|400692|$ 51.81|400692|$ 348.3|
|december 2010|337100|$ 50.89|337100|$ 331.1|
|total fourth quarter|1460682|$ 51.08|1460682|$ 331.1|
( 1 ) repurchases made pursuant to the $ 1.5 billion stock repurchase program approved by our board of directors in february 2008 ( the 201cbuyback 201d ) . under this program , our management is authorized to purchase shares from time to time through 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 make purchases pursuant to trading plans under rule 10b5-1 of the exchange act , 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 . this program may be discontinued at any time . subsequent to december 31 , 2010 , we repurchased 1122481 shares of our common stock for an aggregate of $ 58.0 million , including commissions and fees , pursuant to the buyback . as of february 11 , 2011 , we had repurchased a total of 30.9 million shares of our common stock for an aggregate of $ 1.2 billion , including commissions and fees pursuant to the buyback . we expect to continue to manage the pacing of the remaining $ 273.1 million under the buyback in response to general market conditions and other relevant factors. .
Question: what portion of total shares repurchased in the fourth quarter of 2010 occurred during october?
Answer: | 0.4949 | what portion of total shares repurchased in the fourth quarter of 2010 occurred during october? |
finqa1222 | Please answer the given financial question based on the context.
Context: 58| | duke realty corporation annual report 2009 we recognized a loss of $ 1.1 million upon acquisition , which represents the difference between the fair value of the recognized assets and the carrying value of our pre-existing equity interest . the acquisition date fair value of the net recognized assets as compared to the acquisition date carrying value of our outstanding advances and accrued interest , as well as the acquisition date carrying value of our pre-existing equity interests , is shown as follows ( in thousands ) : .
|net fair value of acquired assets and liabilities|$ 206852|
|less advances to acquired entities eliminated upon consolidation|-173006 ( 173006 )|
|less acquisition date carrying value of equity in acquired entities|-34908 ( 34908 )|
|loss on business combination|$ -1062 ( 1062 )|
since april 1 , 2009 , the results of operations for both acquired entities have been included in continuing operations in our consolidated financial statements . due to our significant pre-existing ownership and financing positions in the two acquired entities , the inclusion of their results of operations did not have a material effect on our operating income . acquisitions we acquired income producing real estate related assets of $ 32.1 million , $ 60.5 million and $ 219.9 million in 2009 , 2008 and 2007 , respectively . in december 2007 , in order to further establish our property positions around strategic port locations , we purchased a portfolio of five industrial buildings in seattle , virginia and houston , as well as approximately 161 acres of undeveloped land and a 12-acre container storage facility in houston . the total price was $ 89.7 million and was financed in part through assumption of secured debt that had a fair value of $ 34.3 million . of the total purchase price , $ 64.1 million was allocated to in-service real estate assets , $ 20.0 million was allocated to undeveloped land and the container storage facility , $ 5.4 million was allocated to lease related intangible assets , and the remaining amount was allocated to acquired working capital related assets and liabilities . the results of operations for the acquired properties since the date of acquisition have been included in continuing rental operations in our consolidated financial statements . all other acquisitions were not individually material . dispositions we disposed of income producing real estate related assets with gross proceeds of $ 267.0 million , $ 426.2 million and $ 590.4 million in 2009 , 2008 and 2007 , respectively . we sold five properties in 2009 and seven properties in 2008 to an unconsolidated joint venture . the gross proceeds totaled $ 84.3 million and $ 226.2 million for the years ended december 31 , 2009 and 2008 , respectively . in march 2007 , as part of our capital recycling program , we sold a portfolio of eight suburban office properties totaling 894000 square feet in the cleveland market . the sales price totaled $ 140.4 million , of which we received net proceeds of $ 139.3 million . we also sold a portfolio of twelve flex and light industrial properties in july 2007 , totaling 865000 square feet in the st . louis market , for a sales price of $ 65.0 million , of which we received net proceeds of $ 64.2 million . all other dispositions were not individually material . ( 4 ) related party transactions we provide property management , leasing , construction and other tenant related services to unconsolidated companies in which we have equity interests . for the years ended december 31 , 2009 , 2008 and 2007 , respectively , we earned management fees of $ 8.4 million , $ 7.8 million and $ 7.1 million , leasing fees of $ 4.2 million , $ 2.8 million and $ 4.2 million and construction and development fees of $ 10.2 million , $ 12.7 million and $ 13.1 million from these companies . we recorded these fees based on contractual terms that approximate market rates for these types of .
Question: of the december 2007 property purchase what was the percent of assets allocated to allocated to in-service real estate assets
Answer: | 0.7146 | of the december 2007 property purchase what was the percent of assets allocated to allocated to in-service real estate assets |
finqa1223 | Please answer the given financial question based on the context.
Context: liquidity monitoring and measurement stress testing liquidity stress testing is performed for each of citi 2019s major entities , operating subsidiaries and/or countries . stress testing and scenario analyses are intended to quantify the potential impact of an adverse liquidity event on the balance sheet and liquidity position , and to identify viable funding alternatives that can be utilized . these scenarios include assumptions about significant changes in key funding sources , market triggers ( such as credit ratings ) , potential uses of funding and geopolitical and macroeconomic conditions . these conditions include expected and stressed market conditions as well as company-specific events . liquidity stress tests are conducted to ascertain potential mismatches between liquidity sources and uses over a variety of time horizons and over different stressed conditions . liquidity limits are set accordingly . to monitor the liquidity of an entity , these stress tests and potential mismatches are calculated with varying frequencies , with several tests performed daily . given the range of potential stresses , citi maintains contingency funding plans on a consolidated basis and for individual entities . these plans specify a wide range of readily available actions for a variety of adverse market conditions or idiosyncratic stresses . short-term liquidity measurement : liquidity coverage ratio ( lcr ) in addition to internal liquidity stress metrics that citi has developed for a 30-day stress scenario , citi also monitors its liquidity by reference to the lcr , as calculated pursuant to the u.s . lcr rules . generally , the lcr is designed to ensure that banks maintain an adequate level of hqla to meet liquidity needs under an acute 30-day stress scenario . the lcr is calculated by dividing hqla by estimated net outflows over a stressed 30-day period , with the net outflows determined by applying prescribed outflow factors to various categories of liabilities , such as deposits , unsecured and secured wholesale borrowings , unused lending commitments and derivatives- related exposures , partially offset by inflows from assets maturing within 30 days . banks are required to calculate an add-on to address potential maturity mismatches between contractual cash outflows and inflows within the 30-day period in determining the total amount of net outflows . the minimum lcr requirement is 100% ( 100 % ) , effective january 2017 . pursuant to the federal reserve board 2019s final rule regarding lcr disclosures , effective april 1 , 2017 , citi began to disclose lcr in the prescribed format . the table below sets forth the components of citi 2019s lcr calculation and hqla in excess of net outflows for the periods indicated : in billions of dollars dec . 31 , sept . 30 , dec . 31 .
|in billions of dollars|dec . 31 2017|sept . 30 2017|dec . 31 2016|
|hqla|$ 446.4|$ 448.6|$ 403.7|
|net outflows|364.3|365.1|332.5|
|lcr|123% ( 123 % )|123% ( 123 % )|121% ( 121 % )|
|hqla in excess of net outflows|$ 82.1|$ 83.5|$ 71.3|
note : amounts set forth in the table above are presented on an average basis . as set forth in the table above , citi 2019s lcr increased year- over-year , as the increase in the hqla ( as discussed above ) more than offset an increase in modeled net outflows . the increase in modeled net outflows was primarily driven by changes in assumptions , including changes in methodology to better align citi 2019s outflow assumptions with those embedded in its resolution planning . sequentially , citi 2019s lcr remained unchanged . long-term liquidity measurement : net stable funding ratio ( nsfr ) in 2016 , the federal reserve board , the fdic and the occ issued a proposed rule to implement the basel iii nsfr requirement . the u.s.-proposed nsfr is largely consistent with the basel committee 2019s final nsfr rules . in general , the nsfr assesses the availability of a bank 2019s stable funding against a required level . a bank 2019s available stable funding would include portions of equity , deposits and long-term debt , while its required stable funding would be based on the liquidity characteristics of its assets , derivatives and commitments . prescribed factors would be required to be applied to the various categories of asset and liabilities classes . the ratio of available stable funding to required stable funding would be required to be greater than 100% ( 100 % ) . while citi believes that it is compliant with the proposed u.s . nsfr rules as of december 31 , 2017 , it will need to evaluate a final version of the rules , which are expected to be released during 2018 . citi expects that the nsfr final rules implementation period will be communicated along with the final version of the rules. .
Question: what was the percentage increase of the hqla in excess of net outflows 2016 to 2017
Answer: | 0.15147 | what was the percentage increase of the hqla in excess of net outflows 2016 to 2017 |
finqa1224 | Please answer the given financial question based on the context.
Context: stock performance graph * $ 100 invested on december 31 , 2011 in our stock or in the relevant index , including reinvestment of dividends . fiscal year ended december 31 , 2016 . ( 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 inc. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , goodyear tire & rubber co. , johnson controls international plc , lear corp. , lkq corp. , meritor inc. , standard motor products inc. , stoneridge inc. , superior industries international , tenneco inc. , tesla motors inc. , tower international inc. , visteon corp. , and wabco holdings inc . company index december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
|company index|december 31 2011|december 31 2012|december 31 2013|december 31 2014|december 31 2015|december 31 2016|
|delphi automotive plc ( 1 )|$ 100.00|$ 177.58|$ 283.02|$ 347.40|$ 414.58|$ 331.43|
|s&p 500 ( 2 )|100.00|116.00|153.58|174.60|177.01|198.18|
|automotive supplier peer group ( 3 )|100.00|127.04|188.67|203.06|198.34|202.30|
dividends the company has declared and paid cash dividends of $ 0.25 and $ 0.29 per ordinary share in each quarter of 2015 and 2016 , respectively . in addition , in january 2017 , the board of directors declared a regular quarterly cash dividend of $ 0.29 per ordinary share , payable on february 15 , 2017 to shareholders of record at the close of business on february 6 , 2017. .
Question: what was the percentage increase in cash dividend from 2015 to 2016?
Answer: | 0.16 | what was the percentage increase in cash dividend from 2015 to 2016? |
finqa1225 | Please answer the given financial question based on the context.
Context: performance graph the following graph compares the cumulative five-year total return provided shareholders on our class a common stock relative to the cumulative total returns of the s&p 500 index and two customized peer groups . the old peer group includes intercontinentalexchange , inc. , nyse euronext and the nasdaq omx group inc . the new peer group is the same as the old peer group with the addition of cboe holdings , inc . which completed its initial public offering in june 2010 . an investment of $ 100 ( with reinvestment of all dividends ) is assumed to have been made in our class a common stock , in the peer groups and the s&p 500 index on december 31 , 2005 and its relative performance is tracked through december 31 , 2010 . comparison of 5 year cumulative total return* among cme group inc. , the s&p 500 index , an old peer group and a new peer group 12/05 12/06 12/07 12/08 12/09 12/10 cme group inc . s&p 500 old peer group *$ 100 invested on 12/31/05 in stock or index , including reinvestment of dividends . fiscal year ending december 31 . copyright a9 2011 s&p , a division of the mcgraw-hill companies inc . all rights reserved . new peer group the stock price performance included in this graph is not necessarily indicative of future stock price performance .
||2006|2007|2008|2009|2010|
|cme group inc .|$ 139.48|$ 188.81|$ 58.66|$ 96.37|$ 93.73|
|s&p 500|115.80|122.16|76.96|97.33|111.99|
|old peer group|155.58|190.78|72.25|76.11|87.61|
|new peer group|155.58|190.78|72.25|76.11|87.61|
.
Question: what was the ratio of the performance as shown for the cme group inc . to the s&p 500 in 2017
Answer: | 1.5456 | what was the ratio of the performance as shown for the cme group inc . to the s&p 500 in 2017 |
finqa1226 | Please answer the given financial question based on the context.
Context: masco corporation notes to consolidated financial statements ( continued ) t . other commitments and contingencies litigation . we are subject to claims , charges , litigation and other proceedings in the ordinary course of our business , including those arising from or related to contractual matters , intellectual property , personal injury , environmental matters , product liability , construction defect , insurance coverage , personnel and employment disputes and other matters , including class actions . we believe we have adequate defenses in these matters and that the outcome of these matters is not likely to have a material adverse effect on us . however , there is no assurance that we will prevail in these matters , and we could in the future incur judgments , enter into settlements of claims or revise our expectations regarding the outcome of these matters , which could materially impact our results of operations . in july 2012 , the company reached a settlement agreement related to the columbus drywall litigation . the company and its insulation installation companies named in the suit agreed to pay $ 75 million in return for dismissal with prejudice and full release of all claims . the company and its insulation installation companies continue to deny that the challenged conduct was unlawful and admit no wrongdoing as part of the settlement . a settlement was reached to eliminate the considerable expense and uncertainty of this lawsuit . the company recorded the settlement expense in the second quarter of 2012 and the amount was paid in the fourth quarter of 2012 . warranty . at the time of sale , the company accrues a warranty liability for the estimated cost to provide products , parts or services to repair or replace products in satisfaction of warranty obligations . during the third quarter of 2012 , a business in the other specialty products segment recorded a $ 12 million increase in expected future warranty claims resulting from the completion of an analysis prepared by the company based upon its periodic assessment of recent business unit specific operating trends including , among others , home ownership demographics , sales volumes , manufacturing quality , an analysis of recent warranty claim activity and an estimate of current costs to service anticipated claims . changes in the company 2019s warranty liability were as follows , in millions: .
||2012|2011|
|balance at january 1|$ 102|$ 107|
|accruals for warranties issued during the year|42|28|
|accruals related to pre-existing warranties|16|8|
|settlements made ( in cash or kind ) during the year|-38 ( 38 )|-38 ( 38 )|
|other net ( including currency translation )|-4 ( 4 )|-3 ( 3 )|
|balance at december 31|$ 118|$ 102|
investments . with respect to the company 2019s investments in private equity funds , the company had , at december 31 , 2012 , commitments to contribute up to $ 19 million of additional capital to such funds representing the company 2019s aggregate capital commitment to such funds less capital contributions made to date . the company is contractually obligated to make additional capital contributions to certain of its private equity funds upon receipt of a capital call from the private equity fund . the company has no control over when or if the capital calls will occur . capital calls are funded in cash and generally result in an increase in the carrying value of the company 2019s investment in the private equity fund when paid. .
Question: what was the percent of the change in the accruals for warranties issued from 2011 to 2012
Answer: | 0.5 | what was the percent of the change in the accruals for warranties issued from 2011 to 2012 |
finqa1227 | Please answer the given financial question based on the context.
Context: the company 2019s 2017 reported tax rate includes $ 160.9 million of net tax benefits associated with the tax act , $ 6.2 million of net tax benefits on special gains and charges , and net tax benefits of $ 25.3 million associated with discrete tax items . in connection with the company 2019s initial analysis of the impact of the tax act , as noted above , a provisional net discrete tax benefit of $ 160.9 million was recorded in the period ended december 31 , 2017 , which includes $ 321.0 million tax benefit for recording deferred tax assets and liabilities at the u.s . enacted tax rate , and a net expense for the one-time transition tax of $ 160.1 million . while the company was able to make an estimate of the impact of the reduction in the u.s . rate on deferred tax assets and liabilities and the one-time transition tax , it may be affected by other analyses related to the tax act , as indicated above . special ( gains ) and charges represent the tax impact of special ( gains ) and charges , as well as additional tax benefits utilized in anticipation of u.s . tax reform of $ 7.8 million . during 2017 , the company recorded a discrete tax benefit of $ 39.7 million related to excess tax benefits , resulting from the adoption of accounting changes regarding the treatment of tax benefits on share-based compensation . the extent of excess tax benefits is subject to variation in stock price and stock option exercises . in addition , the company recorded net discrete expenses of $ 14.4 million related to recognizing adjustments from filing the 2016 u.s . federal income tax return and international adjustments due to changes in estimates , partially offset by the release of reserves for uncertain tax positions due to the expiration of statute of limitations in state tax matters . during 2016 , the company recognized net expense related to discrete tax items of $ 3.9 million . the net expenses were driven primarily by recognizing adjustments from filing the company 2019s 2015 u.s . federal income tax return , partially offset by settlement of international tax matters and remeasurement of certain deferred tax assets and liabilities resulting from the application of updated tax rates in international jurisdictions . net expense was also impacted by adjustments to deferred tax asset and liability positions and the release of reserves for uncertain tax positions due to the expiration of statute of limitations in non-u.s . jurisdictions . during 2015 , the company recognized net benefits related to discrete tax items of $ 63.3 million . the net benefits were driven primarily by the release of $ 20.6 million of valuation allowances , based on the realizability of foreign deferred tax assets and the ability to recognize a worthless stock deduction of $ 39.0 million for the tax basis in a wholly-owned domestic subsidiary . a reconciliation of the beginning and ending amount of gross liability for unrecognized tax benefits is as follows: .
|( millions )|2017|2016|2015|
|balance at beginning of year|$ 75.9|$ 74.6|$ 78.7|
|additions based on tax positions related to the current year|3.2|8.8|5.8|
|additions for tax positions of prior years|-|2.1|0.9|
|reductions for tax positions of prior years|-4.9 ( 4.9 )|-1.0 ( 1.0 )|-8.8 ( 8.8 )|
|reductions for tax positions due to statute of limitations|-14.0 ( 14.0 )|-5.5 ( 5.5 )|-1.6 ( 1.6 )|
|settlements|-10.8 ( 10.8 )|-2.0 ( 2.0 )|-4.2 ( 4.2 )|
|assumed in connection with acquisitions|10.0|-|8.0|
|foreign currency translation|2.1|-1.1 ( 1.1 )|-4.2 ( 4.2 )|
|balance at end of year|$ 61.5|$ 75.9|$ 74.6|
the total amount of unrecognized tax benefits , if recognized would have affected the effective tax rate by $ 47.1 million as of december 31 , 2017 , $ 57.5 million as of december 31 , 2016 and $ 59.2 million as of december 31 , 2015 . the company recognizes interest and penalties related to unrecognized tax benefits in its provision for income taxes . during 2017 , 2016 and 2015 the company released $ 0.9 million , $ 2.9 million and $ 1.4 million related to interest and penalties , respectively . the company had $ 9.3 million , $ 10.2 million and $ 13.1 million of accrued interest , including minor amounts for penalties , at december 31 , 2017 , 2016 , and 2015 , respectively. .
Question: what percentage of the ending balance in unrecognized tax benefits relates to unrecognized tax benefits that would have affected the effective tax rate as of december 31 , 2017?
Answer: | 0.76585 | what percentage of the ending balance in unrecognized tax benefits relates to unrecognized tax benefits that would have affected the effective tax rate as of december 31 , 2017? |
finqa1228 | Please answer the given financial question based on the context.
Context: to determine stock-based compensation expense , the grant date fair value is applied to the options granted with a reduction for estimated forfeitures . we recognize compensation expense for stock options on a straight-line basis over the specified vesting period . at december 31 , 2013 and 2012 , options for 10204000 and 12759000 shares of common stock were exercisable at a weighted-average price of $ 89.46 and $ 90.86 , respectively . the total intrinsic value of options exercised during 2014 , 2013 and 2012 was $ 90 million , $ 86 million and $ 37 million , respectively . cash received from option exercises under all incentive plans for 2014 , 2013 and 2012 was approximately $ 215 million , $ 208 million and $ 118 million , respectively . the tax benefit realized from option exercises under all incentive plans for 2014 , 2013 and 2012 was approximately $ 33 million , $ 31 million and $ 14 million , respectively . shares of common stock available during the next year for the granting of options and other awards under the incentive plans were 17997353 at december 31 , 2014 . total shares of pnc common stock authorized for future issuance under equity compensation plans totaled 19017057 shares at december 31 , 2014 , which includes shares available for issuance under the incentive plans and the employee stock purchase plan ( espp ) as described below . during 2014 , we issued approximately 2.4 million 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 . awards granted to non-employee directors in 2014 , 2013 and 2012 include 21490 , 27076 and 25620 deferred stock units , respectively , awarded under the outside directors deferred stock unit plan . a deferred stock unit is a phantom share of our common stock , which is accounted for as a liability until such awards are paid to the participants in cash . as there are no vesting or service requirements on these awards , total compensation expense is recognized in full for these awards on the date of grant . incentive/performance unit share awards and restricted stock/share unit awards the fair value of nonvested incentive/performance unit share awards and restricted stock/share unit awards is initially determined based on prices not less than the market value of our common stock on the date of grant . the value of certain incentive/performance unit share awards is subsequently remeasured based on the achievement of one or more financial and other performance goals . the personnel and compensation committee ( 201cp&cc 201d ) of the board of directors approves the final award payout with respect to certain incentive/performance unit share awards . these awards have either a three-year or a four-year performance period and are payable in either stock or a combination of stock and cash . restricted stock/share unit awards have various vesting periods generally ranging from 3 years to 5 years . beginning in 2013 , we incorporated several enhanced risk- related performance changes to certain long-term incentive compensation programs . in addition to achieving certain financial performance metrics on both an absolute basis and relative to our peers , final payout amounts will be subject to reduction if pnc fails to meet certain risk-related performance metrics as specified in the award agreements . however , the p&cc has the discretion to waive any or all of this reduction under certain circumstances . the weighted-average grant date fair value of incentive/ performance unit share awards and restricted stock/unit awards granted in 2014 , 2013 and 2012 was $ 80.79 , $ 64.77 and $ 60.68 per share , respectively . the total fair value of incentive/performance unit share and restricted stock/unit awards vested during 2014 , 2013 and 2012 was approximately $ 119 million , $ 63 million and $ 55 million , respectively . we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program . table 121 : nonvested incentive/performance unit share awards and restricted stock/share unit awards 2013 rollforward shares in thousands nonvested incentive/ performance unit shares weighted- average grant date fair value nonvested restricted stock/ weighted- average grant date fair value .
|shares in thousands december 31 2013|nonvested incentive/ performance unit shares 1647|weighted-averagegrant datefair value $ 63.49|nonvested restricted stock/ share units 3483|weighted-averagegrant datefair value $ 62.70|
|granted|723|79.90|1276|81.29|
|vested/released|-513 ( 513 )|63.64|-962 ( 962 )|62.32|
|forfeited|-20 ( 20 )|69.18|-145 ( 145 )|69.44|
|december 31 2014|1837|$ 69.84|3652|$ 69.03|
the pnc financial services group , inc . 2013 form 10-k 185 .
Question: in shares in thousands , for the non-vested incentive/ performance unit shares , what was the change in balance between december 31 2013 and december 31 2014?
Answer: | 190.0 | in shares in thousands , for the non-vested incentive/ performance unit shares , what was the change in balance between december 31 2013 and december 31 2014? |
finqa1229 | Please answer the given financial question based on the context.
Context: item 2 . properties we employ a variety of assets in the management and operation of our rail business . our rail network covers 23 states in the western two-thirds of the u.s . our rail network includes 31838 route miles . we own 26009 miles and operate on the remainder pursuant to trackage rights or leases . the following table describes track miles at december 31 , 2013 and 2012 . 2013 2012 .
||2013|2012|
|route|31838|31868|
|other main line|6766|6715|
|passing lines and turnouts|3167|3124|
|switching and classification yard lines|9090|9046|
|total miles|50861|50753|
headquarters building we maintain our headquarters in omaha , nebraska . the facility has 1.2 million square feet of space for approximately 4000 employees and is subject to a financing arrangement . harriman dispatching center the harriman dispatching center ( hdc ) , located in omaha , nebraska , is our primary dispatching facility . it is linked to regional dispatching and locomotive management facilities at various locations along our .
Question: at december 312013 what was the percent of the route miles to the total track miles
Answer: | 0.62598 | at december 312013 what was the percent of the route miles to the total track miles |
finqa1230 | Please answer the given financial question based on the context.
Context: credit commitments and lines of credit the table below summarizes citigroup 2019s credit commitments as of december 31 , 2010 and december 31 , 2009: .
|in millions of dollars|december 31 2010 u.s .|december 31 2010 outside of u.s .|december 31 2010 total|december 31 2009|
|commercial and similar letters of credit|$ 1544|$ 7430|$ 8974|$ 7211|
|one- to four-family residential mortgages|2582|398|2980|1070|
|revolving open-end loans secured by one- to four-family residential properties|17986|2948|20934|23916|
|commercial real estate construction and land development|1813|594|2407|1704|
|credit card lines|573945|124728|698673|785495|
|commercial and other consumer loan commitments|124142|86262|210404|257342|
|total|$ 722012|$ 222360|$ 944372|$ 1076738|
the majority of unused commitments are contingent upon customers maintaining specific credit standards . commercial commitments generally have floating interest rates and fixed expiration dates and may require payment of fees . such fees ( net of certain direct costs ) are deferred and , upon exercise of the commitment , amortized over the life of the loan or , if exercise is deemed remote , amortized over the commitment period . commercial and similar letters of credit a commercial letter of credit is an instrument by which citigroup substitutes its credit for that of a customer to enable the customer to finance the purchase of goods or to incur other commitments . citigroup issues a letter on behalf of its client to a supplier and agrees to pay the supplier upon presentation of documentary evidence that the supplier has performed in accordance with the terms of the letter of credit . when a letter of credit is drawn , the customer is then required to reimburse citigroup . one- to four-family residential mortgages a one- to four-family residential mortgage commitment is a written confirmation from citigroup to a seller of a property that the bank will advance the specified sums enabling the buyer to complete the purchase . revolving open-end loans secured by one- to four-family residential properties revolving open-end loans secured by one- to four-family residential properties are essentially home equity lines of credit . a home equity line of credit is a loan secured by a primary residence or second home to the extent of the excess of fair market value over the debt outstanding for the first mortgage . commercial real estate , construction and land development commercial real estate , construction and land development include unused portions of commitments to extend credit for the purpose of financing commercial and multifamily residential properties as well as land development projects . both secured-by-real-estate and unsecured commitments are included in this line , as well as undistributed loan proceeds , where there is an obligation to advance for construction progress payments . however , this line only includes those extensions of credit that , once funded , will be classified as loans on the consolidated balance sheet . credit card lines citigroup provides credit to customers by issuing credit cards . the credit card lines are unconditionally cancelable by the issuer . commercial and other consumer loan commitments commercial and other consumer loan commitments include overdraft and liquidity facilities , as well as commercial commitments to make or purchase loans , to purchase third-party receivables , to provide note issuance or revolving underwriting facilities and to invest in the form of equity . amounts include $ 79 billion and $ 126 billion with an original maturity of less than one year at december 31 , 2010 and december 31 , 2009 , respectively . in addition , included in this line item are highly leveraged financing commitments , which are agreements that provide funding to a borrower with higher levels of debt ( measured by the ratio of debt capital to equity capital of the borrower ) than is generally considered normal for other companies . this type of financing is commonly employed in corporate acquisitions , management buy-outs and similar transactions. .
Question: what percentage of citigroup 2019s credit commitments as of december 31 , 2010 are u.s.?
Answer: | 0.76454 | what percentage of citigroup 2019s credit commitments as of december 31 , 2010 are u.s.? |
finqa1231 | Please answer the given financial question based on the context.
Context: cdw corporation and subsidiaries notes to consolidated financial statements holders of class b common units in connection with the distribution is subject to any vesting provisions previously applicable to the holder 2019s class b common units . class b common unit holders received 3798508 shares of restricted stock with respect to class b common units that had not yet vested at the time of the distribution . for the year ended december 31 , 2013 , 1200544 shares of such restricted stock vested/settled and 5931 shares were forfeited . as of december 31 , 2013 , 2592033 shares of restricted stock were outstanding . stock options in addition , in connection with the ipo , the company issued 1268986 stock options to the class b common unit holders to preserve their fully diluted equity ownership percentage . these options were issued with a per-share exercise price equal to the ipo price of $ 17.00 and are also subject to the same vesting provisions as the class b common units to which they relate . the company also granted 19412 stock options under the 2013 ltip during the year ended december 31 , 2013 . restricted stock units ( 201crsus 201d ) in connection with the ipo , the company granted 1416543 rsus under the 2013 ltip at a weighted- average grant-date fair value of $ 17.03 per unit . the rsus cliff-vest at the end of four years . valuation information the company attributes the value of equity-based compensation awards to the various periods during which the recipient must perform services in order to vest in the award using the straight-line method . post-ipo equity awards the company has elected to use the black-scholes option pricing model to estimate the fair value of stock options granted . the black-scholes option pricing model incorporates various assumptions including volatility , expected term , risk-free interest rates and dividend yields . the assumptions used to value the stock options granted during the year ended december 31 , 2013 are presented below . year ended december 31 , assumptions 2013 .
|assumptions|year ended december 31 2013|
|weighted-average grant date fair value|$ 4.75|
|weighted-average volatility ( 1 )|35.00% ( 35.00 % )|
|weighted-average risk-free rate ( 2 )|1.58% ( 1.58 % )|
|dividend yield|1.00% ( 1.00 % )|
|expected term ( in years ) ( 3 )|5.4|
expected term ( in years ) ( 3 ) . . . . . . . . . . . . . . . . . . . . . . . . . 5.4 ( 1 ) based upon an assessment of the two-year , five-year and implied volatility for the company 2019s selected peer group , adjusted for the company 2019s leverage . ( 2 ) based on a composite u.s . treasury rate . ( 3 ) the expected term is calculated using the simplified method . the simplified method defines the expected term as the average of the option 2019s contractual term and the option 2019s weighted-average vesting period . the company utilizes this method as it has limited historical stock option data that is sufficient to derive a reasonable estimate of the expected stock option term. .
Question: for the restricted stock units ( 201crsus 201d ) granted in connection with the ipo , what would the total deemed proceeds be to the company assuming the rsus were vested at the average price per unit?
Answer: | 24123727.29 | for the restricted stock units ( 201crsus 201d ) granted in connection with the ipo , what would the total deemed proceeds be to the company assuming the rsus were vested at the average price per unit? |
finqa1232 | Please answer the given financial question based on the context.
Context: united kingdom . bermuda re 2019s uk branch conducts business in the uk and is subject to taxation in the uk . bermuda re believes that it has operated and will continue to operate its bermuda operation in a manner which will not cause them to be subject to uk taxation . if bermuda re 2019s bermuda operations were to become subject to uk income tax , there could be a material adverse impact on the company 2019s financial condition , results of operations and cash flow . ireland . holdings ireland and ireland re conduct business in ireland and are subject to taxation in ireland . available information . the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8- k , proxy statements and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestre.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) . item 1a . risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities . if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly . risks relating to our business fluctuations in the financial markets could result in investment losses . prolonged and severe disruptions in the public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio . for the year ended december 31 , 2008 , we incurred $ 695.8 million of realized investment gains and $ 310.4 million of unrealized investment losses . although financial markets significantly improved during 2009 and 2010 , they could deteriorate in the future and again result in substantial realized and unrealized losses , which could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings . our results could be adversely affected by catastrophic events . we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism . any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations . subsequent to april 1 , 2010 , we define a catastrophe as an event that causes a loss on property exposures before reinsurance of at least $ 10.0 million , before corporate level reinsurance and taxes . prior to april 1 , 2010 , we used a threshold of $ 5.0 million . by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: .
|calendar year:|pre-tax catastrophe losses|
|( dollars in millions )||
|2010|$ 571.1|
|2009|67.4|
|2008|364.3|
|2007|160.0|
|2006|287.9|
.
Question: what was the ratio of the pre-tax catastrophe losses in 2010 compared to 2009
Answer: | 8.47329 | what was the ratio of the pre-tax catastrophe losses in 2010 compared to 2009 |
finqa1233 | Please answer the given financial question based on the context.
Context: the following table provides the weighted average assumptions used in the black-scholes option-pricing model for grants and the resulting weighted average grant date fair value per share of stock options granted for the years ended december 31: .
||2018|2017|2016|
|intrinsic value|$ 9|$ 10|$ 18|
|exercise proceeds|7|11|15|
|income tax benefit realized|2|3|6|
stock units during 2018 , 2017 and 2016 , the company granted rsus to certain employees under the 2007 plan and 2017 omnibus plan , as applicable . rsus generally vest based on continued employment with the company over periods ranging from one to three years. .
Question: what was the lowest intrinsic value per share for the calculation in the table?
Answer: | 9.0 | what was the lowest intrinsic value per share for the calculation in the table? |
finqa1234 | Please answer the given financial question based on the context.
Context: 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 .
|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 )|
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 .
Question: what was the change in unrecognized tax benefits between 2007 and 2008?
Answer: | 359.0 | what was the change in unrecognized tax benefits between 2007 and 2008? |
finqa1235 | Please answer the given financial question based on the context.
Context: proved reserves can be added as expansions are permitted , funding is approved and certain stipulations of the joint venture agreement are satisfied . the following table sets forth changes in estimated quantities of net proved bitumen reserves for the year 2008 . estimated quantities of proved bitumen reserves ( millions of barrels ) 2008 .
|( millions of barrels )|2008|
|beginning of year|421|
|revisions ( a )|-30 ( 30 )|
|extensions discoveries and additions|6|
|production|-9 ( 9 )|
|end of year|388|
( a ) revisions were driven primarily by price and the impact of the new royalty regime discussed below . the above estimated quantity of net proved bitumen reserves is a forward-looking statement and is based on a number of assumptions , including ( among others ) commodity prices , volumes in-place , presently known physical data , recoverability of bitumen , industry economic conditions , levels of cash flow from operations , and other operating considerations . to the extent these assumptions prove inaccurate , actual recoveries could be different than current estimates . for a discussion of the proved bitumen reserves estimation process , see item 7 . management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting estimates 2013 estimated net recoverable reserve quantities 2013 proved bitumen reserves . operations at the aosp are not within the scope of statement of financial accounting standards ( 201csfas 201d ) no . 25 , 201csuspension of certain accounting requirements for oil and gas producing companies ( an amendment of financial accounting standards board ( 201cfasb 201d ) statement no . 19 ) , 201d sfas no . 69 , 201cdisclosures about oil and gas producing activities ( an amendment of fasb statements 19 , 25 , 33 and 39 ) , 201d and securities and exchange commission ( 201csec 201d ) rule 4-10 of regulation s-x ; therefore , bitumen production and reserves are not included in our supplementary information on oil and gas producing activities . the sec has recently issued a release amending these disclosure requirements effective for annual reports on form 10-k for fiscal years ending on or after december 31 , 2009 , see item 7 . management 2019s discussion and analysis of financial condition and results of operations 2013 accounting standards not yet adopted for additional information . prior to our acquisition of western , the first fully-integrated expansion of the existing aosp facilities was approved in 2006 . expansion 1 , which includes construction of mining and extraction facilities at the jackpine mine , expansion of treatment facilities at the existing muskeg river mine , expansion of the scotford upgrader and development of related infrastructure , is anticipated to begin operations in late 2010 or 2011 . when expansion 1 is complete , we will have more than 50000 bpd of net production and upgrading capacity in the canadian oil sands . the timing and scope of future expansions and debottlenecking opportunities on existing operations remain under review . during 2008 , the alberta government accepted the project 2019s application to have a portion of the expansion 1 capital costs form part of the muskeg river mine 2019s allowable cost recovery pool . due to commodity price declines in the year , royalties for 2008 were one percent of the gross mine revenue . commencing january 1 , 2009 , the alberta royalty regime has been amended such that royalty rates will be based on the canadian dollar ( 201ccad 201d ) equivalent monthly average west texas intermediate ( 201cwti 201d ) price . royalty rates will rise from a minimum of one percent to a maximum of nine percent under the gross revenue method and from a minimum of 25 percent to a maximum of 40 percent under the net revenue method . under both methods , the minimum royalty is based on a wti price of $ 55.00 cad per barrel and below while the maximum royalty is reached at a wti price of $ 120.00 cad per barrel and above , with a linear increase in royalty between the aforementioned prices . the above discussion of the oil sands mining segment includes forward-looking statements concerning the anticipated completion of aosp expansion 1 . factors which could affect the expansion project include transportation logistics , availability of materials and labor , unforeseen hazards such as weather conditions , delays in obtaining or conditions imposed by necessary government and third-party approvals and other risks customarily associated with construction projects . refining , marketing and transportation refining we own and operate seven refineries in the gulf coast , midwest and upper great plains regions of the united states with an aggregate refining capacity of 1.016 million barrels per day ( 201cmmbpd 201d ) of crude oil . during 2008 .
Question: of the ending 2008 balance of proved bitumen reserves what percentage makes up extensions discoveries and additions?
Answer: | 0.01546 | of the ending 2008 balance of proved bitumen reserves what percentage makes up extensions discoveries and additions? |
finqa1236 | Please answer the given financial question based on the context.
Context: we measure cash flow as net cash provided by operating activities reduced by expenditures for property additions . we use this non-gaap financial measure of cash flow to focus management and investors on the amount of cash available for debt repayment , dividend distributions , acquisition opportunities , and share repurchases . our cash flow metric is reconciled to the most comparable gaap measure , as follows: .
|( dollars in millions )|2012|2011|2010|
|net cash provided by operating activities|$ 1758|$ 1595|$ 1008|
|additions to properties|-533 ( 533 )|-594 ( 594 )|-474 ( 474 )|
|cash flow|$ 1225|$ 1001|$ 534|
|year-over-year change|22.4% ( 22.4 % )|87.5% ( 87.5 % )||
year-over-year change 22.4 % ( % ) 87.5 % ( % ) year-over-year changes in cash flow ( as defined ) were driven by improved performance in working capital resulting from the benefit derived from the pringles acquisition , as well as changes in the level of capital expenditures during the three-year period . investing activities our net cash used in investing activities for 2012 amounted to $ 3245 million , an increase of $ 2658 million compared with 2011 primarily attributable to the $ 2668 acquisition of pringles in capital spending in 2012 included investments in our supply chain infrastructure , and to support capacity requirements in certain markets , including pringles . in addition , we continued the investment in our information technology infrastructure related to the reimplementation and upgrade of our sap platform . net cash used in investing activities of $ 587 million in 2011 increased by $ 122 million compared with 2010 , reflecting capital projects for our reimplementation and upgrade of our sap platform and investments in our supply chain . cash paid for additions to properties as a percentage of net sales has decreased to 3.8% ( 3.8 % ) in 2012 , from 4.5% ( 4.5 % ) in 2011 , which was an increase from 3.8% ( 3.8 % ) in financing activities in february 2013 , we issued $ 250 million of two-year floating-rate u.s . dollar notes , and $ 400 million of ten-year 2.75% ( 2.75 % ) u.s . dollar notes . the proceeds from these notes will be used for general corporate purposes , including , together with cash on hand , repayment of the $ 750 million aggregate principal amount of our 4.25% ( 4.25 % ) u.s . dollar notes due march 2013 . the floating-rate notes bear interest equal to three-month libor plus 23 basis points , subject to quarterly reset . the notes contain customary covenants that limit the ability of kellogg company and its restricted subsidiaries ( as defined ) to incur certain liens or enter into certain sale and lease-back transactions , as well as a change of control provision . our net cash provided by financing activities was $ 1317 for 2012 , compared to net cash used in financing activities of $ 957 and $ 439 for 2011 and 2010 , respectively . the increase in cash provided from financing activities in 2012 compared to 2011 and 2010 , was primarily due to the issuance of debt related to the acquisition of pringles . total debt was $ 7.9 billion at year-end 2012 and $ 6.0 billion at year-end 2011 . in march 2012 , we entered into interest rate swaps on our $ 500 million five-year 1.875% ( 1.875 % ) fixed rate u.s . dollar notes due 2016 , $ 500 million ten-year 4.15% ( 4.15 % ) fixed rate u.s . dollar notes due 2019 and $ 500 million of our $ 750 million seven-year 4.45% ( 4.45 % ) fixed rate u.s . dollar notes due 2016 . the interest rate swaps effectively converted these notes from their fixed rates to floating rate obligations through maturity . in may 2012 , we issued $ 350 million of three-year 1.125% ( 1.125 % ) u.s . dollar notes , $ 400 million of five-year 1.75% ( 1.75 % ) u.s . dollar notes and $ 700 million of ten-year 3.125% ( 3.125 % ) u.s . dollar notes , resulting in aggregate net proceeds after debt discount of $ 1.442 billion . the proceeds of these notes were used for general corporate purposes , including financing a portion of the acquisition of pringles . in may 2012 , we issued cdn . $ 300 million of two-year 2.10% ( 2.10 % ) fixed rate canadian dollar notes , using the proceeds from these notes for general corporate purposes , which included repayment of intercompany debt . this repayment resulted in cash available to be used for a portion of the acquisition of pringles . in december 2012 , we repaid $ 750 million five-year 5.125% ( 5.125 % ) u.s . dollar notes at maturity with commercial paper . in february 2011 , we entered into interest rate swaps on $ 200 million of our $ 750 million seven-year 4.45% ( 4.45 % ) fixed rate u.s . dollar notes due 2016 . the interest rate swaps effectively converted this portion of the notes from a fixed rate to a floating rate obligation through maturity . in april 2011 , we repaid $ 945 million ten-year 6.60% ( 6.60 % ) u.s . dollar notes at maturity with commercial paper . in may 2011 , we issued $ 400 million of seven-year 3.25% ( 3.25 % ) fixed rate u.s . dollar notes , using the proceeds of $ 397 million for general corporate purposes and repayment of commercial paper . during 2011 , we entered into interest rate swaps with notional amounts totaling $ 400 million , which effectively converted these notes from a fixed rate to a floating rate obligation through maturity . in november 2011 , we issued $ 500 million of five-year 1.875% ( 1.875 % ) fixed rate u . s . dollar notes , using the proceeds of $ 498 million for general corporate purposes and repayment of commercial paper . during 2012 , we entered into interest rate swaps which effectively converted these notes from a fixed rate to a floating rate obligation through maturity . in april 2010 , our board of directors approved a share repurchase program authorizing us to repurchase shares of our common stock amounting to $ 2.5 billion during 2010 through 2012 . this three year authorization replaced previous share buyback programs which had authorized stock repurchases of up to $ 1.1 billion for 2010 and $ 650 million for 2009 . under this program , we repurchased approximately 1 million , 15 million and 21 million shares of common stock for $ 63 million , $ 793 million and $ 1.1 billion during 2012 , 2011 and 2010 , respectively . in december 2012 , our board of directors approved a share repurchase program authorizing us to repurchase shares of our common stock amounting to $ 300 million during 2013 . we paid quarterly dividends to shareholders totaling $ 1.74 per share in 2012 , $ 1.67 per share in 2011 and $ 1.56 per share in 2010 . total cash paid for dividends increased by 3.0% ( 3.0 % ) in 2012 and 3.4% ( 3.4 % ) in 2011 . in march 2011 , we entered into an unsecured four- year credit agreement which allows us to borrow , on a revolving credit basis , up to $ 2.0 billion . our long-term debt agreements contain customary covenants that limit kellogg company and some of its subsidiaries from incurring certain liens or from entering into certain sale and lease-back transactions . some agreements also contain change in control provisions . however , they do not contain acceleration of maturity clauses that are dependent on credit ratings . a change in our credit ratings could limit our access to the u.s . short-term debt market and/or increase the cost of refinancing long-term debt in the future . however , even under these circumstances , we would continue to have access to our four-year credit agreement , which expires in march 2015 . this source of liquidity is unused and available on an unsecured basis , although we do not currently plan to use it . capital and credit markets , including commercial paper markets , continued to experience instability and disruption as the u.s . and global economies underwent a period of extreme uncertainty . throughout this period of uncertainty , we continued to have access to the u.s. , european , and canadian commercial paper markets . our commercial paper and term debt credit ratings were not affected by the changes in the credit environment . we monitor the financial strength of our third-party financial institutions , including those that hold our cash and cash equivalents as well as those who serve as counterparties to our credit facilities , our derivative financial instruments , and other arrangements . we are in compliance with all covenants as of december 29 , 2012 . we continue to believe that we will be able to meet our interest and principal repayment obligations and maintain our debt covenants for the foreseeable future , while still meeting our operational needs , including the pursuit of selected bolt-on acquisitions . this will be accomplished through our strong cash flow , our short- term borrowings , and our maintenance of credit facilities on a global basis. .
Question: what was cash used by investing activities in 2010 in millions
Answer: | 465.0 | what was cash used by investing activities in 2010 in millions |
finqa1237 | Please answer the given financial question based on the context.
Context: table of contents notes to consolidated financial statements of american airlines , inc . certificate of incorporation ( the certificate of incorporation ) contains transfer restrictions applicable to certain substantial stockholders . although the purpose of these transfer restrictions is to prevent an ownership change from occurring , there can be no assurance that an ownership change will not occur even with these transfer restrictions . a copy of the certificate of incorporation was attached as exhibit 3.1 to a current report on form 8-k filed by aag with the sec on december 9 , 2013 . reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred in the chapter 11 cases . the following table summarizes the components included in reorganization items , net on the consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : december 31 .
||december 31 2013|
|labor-related deemed claim ( 1 )|$ 1733|
|aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )|320|
|fair value of conversion discount ( 4 )|218|
|professional fees|199|
|other|170|
|total reorganization items net|$ 2640|
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees . each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes . the total value of this deemed claim was approximately $ 1.7 billion . ( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds . the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim . ( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations . as a result , during the year ended december 31 , 2013 , american recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at john f . kennedy international airport ( jfk ) , and rejected bonds that financed certain improvements at chicago o 2019hare international airport ( ord ) , which are included in the table above . ( 4 ) the plan allowed unsecured creditors receiving aag series a preferred stock a conversion discount of 3.5% ( 3.5 % ) . accordingly , american recorded the fair value of such discount upon the confirmation of the plan by the bankruptcy court. .
Question: what is the ratio of the professional fees to the other fees
Answer: | 11.70588 | what is the ratio of the professional fees to the other fees |
finqa1238 | Please answer the given financial question based on the context.
Context: item 15 . exhibits , financial statement schedules . ( continued ) kinder morgan , inc . form 10-k .
|kinder morgan liquids terminals llc-n.j . development revenue bonds due january 15 2018 kinder morgan columbus llc-5.50% ( llc-5.50 % ) ms development revenue note due september 1 2022|25.0 8.2|25.0 8.2|
|kinder morgan operating l.p . 201cb 201d-jackson-union cos . il revenue bonds due april 1 2024|23.7|23.7|
|international marine terminals-plaquemines la revenue bonds due march 15 2025|40.0|40.0|
|other miscellaneous subsidiary debt|1.3|1.3|
|unamortized debt discount on long-term debt|-20.3 ( 20.3 )|-21.2 ( 21.2 )|
|current maturities of long-term debt|-1263.3 ( 1263.3 )|-596.6 ( 596.6 )|
|total long-term debt 2013 kmp|$ 10282.8|$ 10007.5|
____________ ( a ) as a result of the implementation of asu 2009-17 , effective january 1 , 2010 , we ( i ) include the transactions and balances of our business trust , k n capital trust i and k n capital trust iii , in our consolidated financial statements and ( ii ) no longer include our junior subordinated deferrable interest debentures issued to the capital trusts ( see note 18 201crecent accounting pronouncements 201d ) . ( b ) kmp issued its $ 500 million in principal amount of 9.00% ( 9.00 % ) senior notes due february 1 , 2019 in december 2008 . each holder of the notes has the right to require kmp to repurchase all or a portion of the notes owned by such holder on february 1 , 2012 at a purchase price equal to 100% ( 100 % ) of the principal amount of the notes tendered by the holder plus accrued and unpaid interest to , but excluding , the repurchase date . on and after february 1 , 2012 , interest will cease to accrue on the notes tendered for repayment . a holder 2019s exercise of the repurchase option is irrevocable . kinder morgan kansas , inc . the 2028 and 2098 debentures and the 2012 and 2015 senior notes are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices defined in the associated prospectus supplements . the 2027 debentures are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option after november 1 , 2004 at redemption prices defined in the associated prospectus supplements . on september 2 , 2010 , kinder morgan kansas , inc . paid the remaining $ 1.1 million principal balance outstanding on kinder morgan kansas , inc . 2019s 6.50% ( 6.50 % ) series debentures , due 2013 . kinder morgan finance company , llc on december 20 , 2010 , kinder morgan finance company , llc , a wholly owned subsidiary of kinder morgan kansas , inc. , completed a public offering of senior notes . it issued a total of $ 750 million in principal amount of 6.00% ( 6.00 % ) senior notes due january 15 , 2018 . net proceeds received from the issuance of the notes , after underwriting discounts and commissions , were $ 744.2 million , which were used to retire the principal amount of the 5.35% ( 5.35 % ) senior notes that matured on january 5 , 2011 . the 2011 , 2016 , 2018 and 2036 senior notes issued by kinder morgan finance company , llc are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices defined in the associated prospectus supplements . each series of these notes is fully and unconditionally guaranteed by kinder morgan kansas , inc . on a senior unsecured basis as to principal , interest and any additional amounts required to be paid as a result of any withholding or deduction for canadian taxes . capital trust securities kinder morgan kansas , inc . 2019s business trusts , k n capital trust i and k n capital trust iii , are obligated for $ 12.7 million of 8.56% ( 8.56 % ) capital trust securities maturing on april 15 , 2027 and $ 14.4 million of 7.63% ( 7.63 % ) capital trust securities maturing on april 15 , 2028 , respectively , which it guarantees . the 2028 securities are redeemable in whole or in part , at kinder morgan kansas , inc . 2019s option at any time , at redemption prices as defined in the associated prospectus . the 2027 securities are redeemable in whole or in part at kinder morgan kansas , inc . 2019s option and at any time in certain limited circumstances upon the occurrence of certain events and at prices , all defined in the associated prospectus supplements . upon redemption by kinder morgan kansas , inc . or at maturity of the junior subordinated deferrable interest debentures , it must use the proceeds to make redemptions of the capital trust securities on a pro rata basis. .
Question: what is the value of current maturities of long-term debt as a percent of total long-term debt for the first column?
Answer: | -1263.3 | what is the value of current maturities of long-term debt as a percent of total long-term debt for the first column? |
finqa1239 | Please answer the given financial question based on the context.
Context: performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 31 , 2010 through october 25 , 2015 . this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period . the comparison assumes $ 100 was invested on october 31 , 2010 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any . dollar amounts in the graph are rounded to the nearest whole dollar . the performance shown in the graph represents past performance and should not be considered an indication of future performance . comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index and the rdg semiconductor composite index *assumes $ 100 invested on 10/31/10 in stock or index , including reinvestment of dividends . indexes calculated on month-end basis . 201cs&p 201d is a registered trademark of standard & poor 2019s financial services llc , a subsidiary of the mcgraw-hill companies , inc. .
||10/31/2010|10/30/2011|10/28/2012|10/27/2013|10/26/2014|10/25/2015|
|applied materials|100.00|104.54|90.88|155.43|188.13|150.26|
|s&p 500 index|100.00|108.09|124.52|158.36|185.71|195.37|
|rdg semiconductor composite index|100.00|110.04|104.07|136.15|172.41|170.40|
dividends during each of fiscal 2015 and 2014 , applied's board of directors declared four quarterly cash dividends of $ 0.10 per share . during fiscal 2013 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.10 per share and one quarterly cash dividend of $ 0.09 per share . dividends paid during fiscal 2015 , 2014 and 2013 amounted to $ 487 million , $ 485 million and $ 456 million , respectively . applied currently anticipates that cash dividends will continue to be paid on a quarterly basis , although the declaration of any future cash dividend is at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination by the board of directors that cash dividends are in the best interests of applied 2019s stockholders . 104 136 10/31/10 10/30/11 10/28/12 10/27/13 10/26/14 10/25/15 applied materials , inc . s&p 500 rdg semiconductor composite .
Question: what is the yearly rate of return of s&p500 if the investment occurs in 2010 and it is liquidated one year later?
Answer: | 0.0809 | what is the yearly rate of return of s&p500 if the investment occurs in 2010 and it is liquidated one year later? |
finqa1240 | Please answer the given financial question based on the context.
Context: z i m m e r h o l d i n g s , i n c . a n d s u b s i d i a r i e s 2 0 0 4 f o r m 1 0 - k notes to consolidated financial statements ( continued ) the company and implex had been operating since 2000 , the following table summarizes the estimated fair values relating to the development and distribution of reconstructive of the assets acquired and liabilities assumed at the date of implant and trauma products incorporating trabecular metal the implex acquisition : ( in millions ) technology . as ofthe merger agreement contains provisions for additional april 23 , 2004annual cash earn-out payments that are based on year-over- current assets $ 23.1year sales growth through 2006 of certain products that .
||as of april 23 2004|
|current assets|$ 23.1|
|property plant and equipment|4.5|
|intangible assets subject to amortization:||
|core technology ( 30 year useful life )|3.6|
|developed technology ( 30 year useful life )|103.9|
|other assets|14.4|
|goodwill|61.0|
|total assets acquired|210.5|
|current liabilities|14.1|
|deferred taxes|43.3|
|total liabilities assumed|57.4|
|net assets acquired|$ 153.1|
estimates total earn-out payments , including payments core technology ( 30 year useful life ) 3.6 already made , to be in a range from $ 120 to $ 160 million . developed technology ( 30 year useful life ) 103.9 other assets 14.4these earn-out payments represent contingent consideration goodwill 61.0and , in accordance with sfas no . 141 and eitf 95-8 2018 2018accounting for contingent consideration paid to the total assets acquired 210.5 shareholders of an acquired enterprise in a purchase current liabilities 14.1 deferred taxes 43.3business combination 2019 2019 , are recorded as an additional cost of the transaction upon resolution of the contingency and total liabilities assumed 57.4 therefore increase goodwill . net assets acquired $ 153.1the implex acquisition was accounted for under the purchase method of accounting pursuant to sfas no . 141 . 4 . change in accounting principle accordingly , implex results of operations have been included in the company 2019s consolidated results of operations instruments are hand held devices used by orthopaedic subsequent to april 23 , 2004 , and its respective assets and surgeons during total joint replacement and other surgical liabilities have been recorded at their estimated fair values in procedures . effective january 1 , 2003 , instruments are the company 2019s consolidated statement of financial position as recognized as long-lived assets and are included in property , of april 23 , 2004 , with the excess purchase price being plant and equipment . undeployed instruments are carried at allocated to goodwill . pro forma financial information has not cost , net of allowances for obsolescence . instruments in the been included as the acquisition did not have a material field are carried at cost less accumulated depreciation . impact upon the company 2019s financial position , results of depreciation is computed using the straight-line method operations or cash flows . based on average estimated useful lives , determined the company completed the preliminary purchase price principally in reference to associated product life cycles , allocation in accordance with u.s . generally accepted primarily five years . in accordance with sfas no . 144 , the accounting principles . the process included interviews with company reviews instruments for impairment whenever management , review of the economic and competitive events or changes in circumstances indicate that the carrying environment and examination of assets including historical value of an asset may not be recoverable . an impairment loss performance and future prospects . the preliminary purchase would be recognized when estimated future cash flows price allocation was based on information currently available relating to the asset are less than its carrying amount . to the company , and expectations and assumptions deemed depreciation of instruments is recognized as selling , general reasonable by the company 2019s management . no assurance can and administrative expense , consistent with the classification be given , however , that the underlying assumptions used to of instrument cost in periods prior to january 1 , 2003 . estimate expected technology based product revenues , prior to january 1 , 2003 , undeployed instruments were development costs or profitability , or the events associated carried as a prepaid expense at cost , net of allowances for with such technology , will occur as projected . the final obsolescence ( $ 54.8 million , net , at december 31 , 2002 ) , and purchase price allocation may vary from the preliminary recognized in selling , general and administrative expense in purchase price allocation . the final valuation and associated the year in which the instruments were placed into service . purchase price allocation is expected to be completed as the new method of accounting for instruments was adopted soon as possible , but no later than one year from the date of to recognize the cost of these important assets of the acquisition . to the extent that the estimates need to be company 2019s business within the consolidated balance sheet adjusted , the company will do so . and meaningfully allocate the cost of these assets over the periods benefited , typically five years . the effect of the change during the year ended december 31 , 2003 was to increase earnings before cumulative effect of change in accounting principle by $ 26.8 million ( $ 17.8 million net of tax ) , or $ 0.08 per diluted share . the cumulative effect adjustment of $ 55.1 million ( net of income taxes of $ 34.0 million ) to retroactively apply the .
Question: what is goodwill as a percentage of net assets acquired?
Answer: | 0.39843 | what is goodwill as a percentage of net assets acquired? |
finqa1241 | Please answer the given financial question based on the context.
Context: the fair value of performance awards is calculated using the market value of a share of snap-on 2019s common stock on the date of grant . the weighted-average grant date fair value of performance awards granted during 2013 , 2012 and 2011 was $ 77.33 , $ 60.00 and $ 55.97 , respectively . vested performance share units approximated 148000 shares as of 2013 year end , 213000 shares as of 2012 year end and 54208 shares as of 2011 year end . performance share units of 213459 shares were paid out in 2013 and 53990 shares were paid out in 2012 ; no performance share units were paid out in 2011 . earned performance share units are generally paid out following the conclusion of the applicable performance period upon approval by the organization and executive compensation committee of the company 2019s board of directors ( the 201cboard 201d ) . based on the company 2019s 2013 performance , 84413 rsus granted in 2013 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2015 . based on the company 2019s 2012 performance , 95047 rsus granted in 2012 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2014 . based on the company 2019s 2011 performance , 159970 rsus granted in 2011 were earned ; these rsus vested as of fiscal 2013 year end and were paid out shortly thereafter . as a result of employee retirements , a total of 1614 of the rsus earned in 2012 and 2011 vested pursuant to the terms of the related award agreements and the underlying shares were paid out in the third quarter of 2013 . the changes to the company 2019s non-vested performance awards in 2013 are as follows : shares ( in thousands ) fair value price per share* .
||shares ( in thousands )|fair valueprice pershare*|
|non-vested performance awards at beginning of year|509|$ 59.36|
|granted|180|77.33|
|vested|-306 ( 306 )|58.94|
|cancellations|-2 ( 2 )|69.23|
|non-vested performance awards at end of year|381|68.13|
* weighted-average as of 2013 year end there was approximately $ 12.9 million of unrecognized compensation cost related to non-vested performance awards that is expected to be recognized as a charge to earnings over a weighted-average period of 1.6 years . stock appreciation rights ( 201csars 201d ) the company also issues cash-settled and stock-settled sars to certain key non-u.s . employees . sars have a contractual term of ten years and vest ratably on the first , second and third anniversaries of the date of grant . sars are granted with an exercise price equal to the market value of a share of snap-on 2019s common stock on the date of grant . cash-settled sars provide for the cash payment of the excess of the fair market value of snap-on 2019s common stock price on the date of exercise over the grant price . cash-settled sars have no effect on dilutive shares or shares outstanding as any appreciation of snap-on 2019s common stock value over the grant price is paid in cash and not in common stock . in 2013 , the company began issuing stock-settled sars that are accounted for as equity instruments and provide for the issuance of snap-on common stock equal to the amount by which the company 2019s stock has appreciated over the exercise price . stock-settled sars have an effect on dilutive shares and shares outstanding as any appreciation of snap-on 2019s common stock value over the exercise price will be settled in shares of common stock . 2013 annual report 101 .
Question: what was the percent of the change in the non-vested performance awards at end of year
Answer: | -0.25147 | what was the percent of the change in the non-vested performance awards at end of year |
finqa1242 | Please answer the given financial question based on the context.
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 ) .
|2017|$ 176138|
|2018|166961|
|2019|142987|
|2020|124856|
|2021|118168|
|2022 and thereafter|626495|
|total future minimum sponsorship and other payments|$ 1355605|
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 .
Question: what portion of the total future minimum sponsorship and other payments will be due in the next three years?
Answer: | 0.35857 | what portion of the total future minimum sponsorship and other payments will be due in the next three years? |
finqa1243 | Please answer the given financial question based on the context.
Context: va health care delivery system through our network of providers . we are compensated by the va for the cost of our providers 2019 services at a specified contractual amount per service plus an additional administrative fee for each transaction . the contract , under which we began providing services on january 1 , 2008 , is comprised of one base period and four one-year option periods subject to renewals at the federal government 2019s option . we are currently in the first option period , which expires on september 30 , 2009 . for the year ended december 31 , 2008 , revenues under this va contract were approximately $ 22.7 million , or less than 1% ( 1 % ) of our total premium and aso fees . for the year ended december 31 , 2008 , military services premium revenues were approximately $ 3.2 billion , or 11.3% ( 11.3 % ) of our total premiums and aso fees , and military services aso fees totaled $ 76.8 million , or 0.3% ( 0.3 % ) of our total premiums and aso fees . international and green ribbon health operations in august 2006 , we established our subsidiary humana europe in the united kingdom to provide commissioning support to primary care trusts , or pcts , in england . under the contracts we are awarded , we work in partnership with local pcts , health care providers , and patients to strengthen health-service delivery and to implement strategies at a local level to help the national health service enhance patient experience , improve clinical outcomes , and reduce costs . for the year ended december 31 , 2008 , revenues under these contracts were approximately $ 7.7 million , or less than 1% ( 1 % ) of our total premium and aso fees . we participated in a medicare health support pilot program through green ribbon health , or grh , a joint- venture company with pfizer health solutions inc . grh was designed to support cms assigned medicare beneficiaries living with diabetes and/or congestive heart failure in central florida . grh used disease management initiatives , including evidence-based clinical guidelines , personal self-directed change strategies , and personal nurses to help participants navigate the health system . revenues under the contract with cms over the period which began november 1 , 2005 and ended august 15 , 2008 are subject to refund unless savings , satisfaction , and clinical improvement targets are met . under the terms of the contract , after a claims run-out period , cms is required to deliver a performance report during the third quarter of 2009 . to date , all revenues have been deferred until reliable estimates are determinable , and revenues are not expected to be material when recognized . our products marketed to commercial segment employers and members smart plans and other consumer products over the last several years , we have developed and offered various commercial products designed to provide options and choices to employers that are annually facing substantial premium increases driven by double-digit medical cost inflation . these smart plans , discussed more fully below , and other consumer offerings , which can be offered on either a fully-insured or aso basis , provided coverage to approximately 670000 members at december 31 , 2008 , representing approximately 18.5% ( 18.5 % ) of our total commercial medical membership as detailed below . smart plans and other consumer membership other commercial membership commercial medical membership .
||smart plans and other consumer membership|other commercial membership|commercial medical membership|
|fully-insured|392500|1586300|1978800|
|aso|277500|1364500|1642000|
|total commercial medical|670000|2950800|3620800|
these products are often offered to employer groups as 201cbundles 201d , where the subscribers are offered various hmo and ppo options , with various employer contribution strategies as determined by the employer. .
Question: what is the percentage of fully-insured memberships among the total commercial medical membership?
Answer: | 0.54651 | what is the percentage of fully-insured memberships among the total commercial medical membership? |
finqa1244 | Please answer the given financial question based on the context.
Context: goodwill and intangible asset impairment charge during the third quarter of fiscal year 2017 , we determined that the goodwill and indefinite-lived intangible assets ( primarily acquired trade names ) associated with our latin america reporting unit of our industrial gases 2013 americas segment were impaired . we recorded a noncash impairment charge of $ 162.1 ( $ 154.1 attributable to air products , after-tax , or $ .70 per share ) , which was driven by lower economic growth and profitability in the region . this impairment charge has been excluded from segment results . refer to note 10 , goodwill , and note 11 , intangible assets , to the consolidated financial statements for additional information . other income ( expense ) , net items recorded to "other income ( expense ) , net" arise from transactions and events not directly related to our principal income earning activities . the detail of "other income ( expense ) , net" is presented in note 23 , supplemental information , to the consolidated financial statements . 2018 vs . 2017 other income ( expense ) , net of $ 50.2 decreased $ 70.8 , primarily due to lower income from the transition services agreements with versum and evonik , lower income from the sale of assets and investments , lower favorable contract settlements , and an unfavorable foreign exchange impact . 2017 vs . 2016 other income ( expense ) , net of $ 121.0 increased $ 71.6 , primarily due to income from transition services agreements with versum and evonik , income from the sale of assets and investments , including a gain of $ 12.2 ( $ 7.6 after-tax , or $ .03 per share ) resulting from the sale of a parcel of land , and a favorable foreign exchange impact . interest expense .
||2018|2017|2016|
|interest incurred|$ 150.0|$ 139.6|$ 147.9|
|less : capitalized interest|19.5|19.0|32.7|
|interest expense|$ 130.5|$ 120.6|$ 115.2|
2018 vs . 2017 interest incurred increased $ 10.4 as project financing associated with the lu'an joint venture and a higher average interest rate on the debt portfolio were partially offset by the impact from a lower average debt balance . the change in capitalized interest was driven by an increase in the carrying value of projects under construction . 2017 vs . 2016 interest incurred decreased $ 8.3 as the impact from a lower average debt balance of $ 26 was partially offset by the impact from a higher average interest rate on the debt portfolio of $ 19 . the change in capitalized interest was driven by a decrease in the carrying value of projects under construction , primarily as a result of our decision to exit from the efw business . other non-operating income ( expense ) , net 2018 vs . 2017 other non-operating income ( expense ) , net of $ 5.1 decreased $ 11.5 . during the fourth quarter of fiscal year 2018 , we recognized a pension settlement loss of $ 43.7 ( $ 33.2 after-tax , or $ .15 per share ) that primarily resulted from the transfer of certain pension payment obligations to an insurer for our u.s . salaried and hourly plans through the purchase of an irrevocable , nonparticipating group annuity contract with plan assets . for additional information , refer to note 16 , retirement benefits , to the consolidated financial statements . this loss was partially offset by higher interest income on cash and cash items and short-term investments and lower other non-service pension expense . the prior year pension expense included a settlement loss of $ 10.5 ( $ 6.6 after-tax , or $ .03 per share ) associated with the u.s . supplementary pension plan and a settlement benefit of $ 2.3 related to the disposition of emd and pmd. .
Question: what was the increase in the interest expenses during 2017 and 2018?
Answer: | 0.08209 | what was the increase in the interest expenses during 2017 and 2018? |
finqa1245 | Please answer the given financial question based on the context.
Context: z i m m e r h o l d i n g s , i n c . a n d s u b s i d i a r i e s 2 0 0 2 f o r m 1 0 - k contractual obligations the company has entered into contracts with various third parties in the normal course of business which will require future payments . the following table illustrates the company 2019s contractual obligations : than 1 1 - 3 4 - 5 after 5 contractual obligations total year years years years .
|contractual obligations|total|less than 1 year|1 - 3 years|4 - 5 years|after 5 years|
|short-term debt|$ 156.7|$ 156.7|$ 2013|$ 2013|$ 2013|
|operating leases|36.9|8.3|12.7|7.3|8.6|
|minimum purchase commitments|25.0|25.0|2013|2013|2013|
|total contractual obligations|$ 218.6|$ 190.0|$ 12.7|$ 7.3|$ 8.6|
critical accounting policies equipment based on historical patterns of use and physical and technological characteristics of assets , as the financial results of the company are affected by the appropriate . in accordance with statement of financial selection and application of accounting policies and methods . accounting standards ( 2018 2018sfas 2019 2019 ) no . 144 , 2018 2018accounting for significant accounting policies which , in some cases , require the impairment or disposal of long-lived assets , 2019 2019 the management 2019s judgment are discussed below . company reviews property , plant and equipment for revenue recognition 2013 a significant portion of the com- impairment whenever events or changes in circumstances pany 2019s revenue is recognized for field based product upon indicate that the carrying value of an asset may not be notification that the product has been implanted or used . recoverable . an impairment loss would be recognized for all other transactions , the company recognizes when estimated future cash flows relating to the asset revenue when title is passed to customers , generally are less than its carrying amount . upon shipment . estimated returns and allowances are derivative financial instruments 2013 critical aspects of recorded as a reduction of sales when the revenue is the company 2019s accounting policy for derivative financial recognized . instruments include conditions which require that critical inventories 2013 the company must determine as of each terms of a hedging instrument are essentially the same as balance sheet date how much , if any , of its inventory may a hedged forecasted transaction . another important ele- ultimately prove to be unsaleable or unsaleable at its ment of the policy requires that formal documentation be carrying cost . reserves are established to effectively maintained as required by the sfas no . 133 , 2018 2018accounting adjust any such inventory to net realizable value . to for derivative instruments and hedging activities . 2019 2019 fail- determine the appropriate level of reserves , the company ure to comply with these conditions would result in a evaluates current stock levels in relation to historical and requirement to recognize changes in market value of expected patterns of demand for all of its products . a hedge instruments in earnings as they occur . manage- series of algorithms is applied to the data to assist ment routinely monitors significant estimates , assump- management in its evaluation . management evaluates the tions and judgments associated with derivative need for changes to valuation reserves based on market instruments , and compliance with formal documentation conditions , competitive offerings and other factors on a requirements . regular basis . further information about inventory stock compensation 2013 the company applies the provi- reserves is provided in notes to the consolidated financial sions of apb opinion no . 25 , 2018 2018accounting for stock statements . issued to employees , 2019 2019 in accounting for stock-based instruments 2013 the company , as is customary in the compensation ; therefore , no compensation expense has industry , consigns surgical instruments for use in been recognized for its fixed stock option plans as orthopaedic procedures with the company 2019s products . options are granted at fair market value . sfas no . 123 , the company 2019s accounting policy requires that the full 2018 2018accounting for stock-based compensation 2019 2019 provides an cost of instruments be recognized as an expense in the alternative method of accounting for stock options based year in which the instruments are placed in service . an on an option pricing model , such as black-scholes . the alternative to this method is to depreciate the cost of company has adopted the disclosure requirements of instruments over their useful lives . the company may sfas no . 123 and sfas no . 148 , 2018 2018accounting for stock- from time to time consider a change in accounting for based compensation-transition and disclosure . 2019 2019 informa- instruments to better align its accounting policy with tion regarding compensation expense under the alterna- certain company competitors . tive method is provided in notes to the consolidated financial statements . property , plant and equipment 2013 the company deter- mines estimated useful lives of property , plant and .
Question: what percent of contractual obligations are due in less than 1 year?
Answer: | 0.86917 | what percent of contractual obligations are due in less than 1 year? |
finqa1246 | Please answer the given financial question based on the context.
Context: 6 . debt the following is a summary of outstanding debt ( in millions ) : .
|as of december 31|2015|2014|
|5.00% ( 5.00 % ) senior notes due september 2020|599|599|
|4.75% ( 4.75 % ) senior notes due 2045|598|2014|
|3.50% ( 3.50 % ) senior notes due june 2024|597|597|
|4.60% ( 4.60 % ) senior notes due june 2044|549|549|
|2.875% ( 2.875 % ) senior notes due may 2026 ( eur 500m )|545|605|
|8.205% ( 8.205 % ) junior subordinated notes due january 2027|521|521|
|3.125% ( 3.125 % ) senior notes due may 2016|500|500|
|2.80% ( 2.80 % ) senior notes due 2021|399|2014|
|4.00% ( 4.00 % ) senior notes due november 2023|349|349|
|6.25% ( 6.25 % ) senior notes due september 2040|298|298|
|4.76% ( 4.76 % ) senior notes due march 2018 ( cad 375m )|271|322|
|4.45% ( 4.45 % ) senior notes due may 2043|249|248|
|4.25% ( 4.25 % ) senior notes due december 2042|196|196|
|3.50% ( 3.50 % ) senior notes due september 2015|2014|599|
|commercial paper|50|168|
|other|16|31|
|total debt|5737|5582|
|less short-term and current portion of long-term debt|562|783|
|total long-term debt|$ 5175|$ 4799|
revolving credit facilities as of december 31 , 2015 , aon plc had two committed credit facilities outstanding : its $ 400 million u.s . credit facility expiring in march 2017 ( the "2017 facility" ) and $ 900 million multi-currency u.s . credit facility expiring in february 2020 ( the "2020 facility" ) . the 2020 facility was entered into on february 2 , 2015 and replaced the previous 20ac650 million european credit facility . effective february 2 , 2016 , the 2020 facility terms were extended for 1 year and will expire in february 2021 . each of these facilities included customary representations , warranties and covenants , including financial covenants that require aon plc to maintain specified ratios of adjusted consolidated ebitda to consolidated interest expense and consolidated debt to adjusted consolidated ebitda , in each case , tested quarterly . at december 31 , 2015 , aon plc did not have borrowings under either the 2017 facility or the 2020 facility , and was in compliance with these financial covenants and all other covenants contained therein during the twelve months ended december 31 , 2015 . on november 13 , 2015 , aon plc issued $ 400 million of 2.80% ( 2.80 % ) senior notes due march 2021 . we used the proceeds of the issuance for general corporate purposes . on september 30 , 2015 , $ 600 million of 3.50% ( 3.50 % ) senior notes issued by aon corporation matured and were repaid . on may 20 , 2015 , the aon plc issued $ 600 million of 4.750% ( 4.750 % ) senior notes due may 2045 . the company used the proceeds of the issuance for general corporate purposes . on august 12 , 2014 , aon plc issued $ 350 million of 3.50% ( 3.50 % ) senior notes due june 2024 . the 3.50% ( 3.50 % ) notes due 2024 constitute a further issuance of , and were consolidated to form a single series of debt securities with , the $ 250 million of 3.50% ( 3.50 % ) notes due june 2024 that was issued by aon plc on may 20 , 2014 concurrently with aon plc's issuance of $ 550 million of 4.60% ( 4.60 % ) notes due june 2044 . aon plc used the proceeds from these issuances for working capital and general corporate purposes. .
Question: what is the percentage change in total debt in 2015?
Answer: | 0.02777 | what is the percentage change in total debt in 2015? |
finqa1247 | Please answer the given financial question based on the context.
Context: devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) proved undeveloped reserves the following table presents the changes in devon 2019s total proved undeveloped reserves during 2014 ( in mmboe ) . .
||u.s .|canada|total|
|proved undeveloped reserves as of december 31 2013|258|443|701|
|extensions and discoveries|153|8|161|
|revisions due to prices|-1 ( 1 )|-34 ( 34 )|-35 ( 35 )|
|revisions other than price|-61 ( 61 )|18|-43 ( 43 )|
|sale of reserves|-4 ( 4 )|-2 ( 2 )|-6 ( 6 )|
|conversion to proved developed reserves|-40 ( 40 )|-49 ( 49 )|-89 ( 89 )|
|proved undeveloped reserves as of december 31 2014|305|384|689|
at december 31 , 2014 , devon had 689 mmboe of proved undeveloped reserves . this represents a 2 percent decrease as compared to 2013 and represents 25 percent of total proved reserves . drilling and development activities increased devon 2019s proved undeveloped reserves 161 mmboe and resulted in the conversion of 89 mmboe , or 13 percent , of the 2013 proved undeveloped reserves to proved developed reserves . costs incurred related to the development and conversion of devon 2019s proved undeveloped reserves were approximately $ 1.0 billion for 2014 . additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 43 mmboe primarily due to evaluations of certain u.s . onshore dry-gas areas , which devon does not expect to develop in the next five years . the largest revisions , which were approximately 69 mmboe , relate to the dry-gas areas in the barnett shale in north texas . a significant amount of devon 2019s proved undeveloped reserves at the end of 2014 related to its jackfish operations . at december 31 , 2014 and 2013 , devon 2019s jackfish proved undeveloped reserves were 384 mmboe and 441 mmboe , respectively . development schedules for the jackfish reserves are primarily controlled by the need to keep the processing plants at their 35000 barrel daily facility capacity . processing plant capacity is controlled by factors such as total steam processing capacity and steam-oil ratios . furthermore , development of these projects involves the up-front construction of steam injection/distribution and bitumen processing facilities . due to the large up-front capital investments and large reserves required to provide economic returns , the project conditions meet the specific circumstances requiring a period greater than 5 years for conversion to developed reserves . as a result , these reserves are classified as proved undeveloped for more than five years . currently , the development schedule for these reserves extends though the year 2031 . price revisions 2014 2013 reserves increased 9 mmboe primarily due to higher gas prices in the barnett shale and the anadarko basin , partially offset by higher bitumen prices , which result in lower after-royalty volumes , in canada . 2013 2013 reserves increased 94 mmboe primarily due to higher gas prices . of this increase , 43 mmboe related to the barnett shale and 19 mmboe related to the rocky mountain area . 2012 2013 reserves decreased 171 mmboe primarily due to lower gas prices . of this decrease , 100 mmboe related to the barnett shale and 25 mmboe related to the rocky mountain area. .
Question: what percentage of total proved undeveloped resources as of dec 31 , 2014 does extensions and discoveries and proved undeveloped resources as of dec 31 , 2013 account for?
Answer: | 125.10885 | what percentage of total proved undeveloped resources as of dec 31 , 2014 does extensions and discoveries and proved undeveloped resources as of dec 31 , 2013 account for? |
finqa1248 | Please answer the given financial question based on the context.
Context: morgan stanley notes to consolidated financial statements 2014 ( continued ) consumer price index ) . senior debt also may be structured to be callable by the company or extendible at the option of holders of the senior debt securities . debt containing provisions that effectively allow the holders to put or extend the notes aggregated $ 1175 million at december 31 , 2013 and $ 1131 million at december 31 , 2012 . in addition , separate agreements are entered into by the company 2019s subsidiaries that effectively allow the holders to put the notes aggregated $ 353 million at december 31 , 2013 and $ 1895 million at december 31 , 2012 . subordinated debt and junior subordinated debentures generally are issued to meet the capital requirements of the company or its regulated subsidiaries and primarily are u.s . dollar denominated . senior debt 2014structured borrowings . the company 2019s index-linked , equity-linked or credit-linked borrowings include various structured instruments whose payments and redemption values are linked to the performance of a specific index ( e.g. , standard & poor 2019s 500 ) , a basket of stocks , a specific equity security , a credit exposure or basket of credit exposures . to minimize the exposure resulting from movements in the underlying index , equity , credit or other position , the company has entered into various swap contracts and purchased options that effectively convert the borrowing costs into floating rates based upon libor . these instruments are included in the preceding table at their redemption values based on the performance of the underlying indices , baskets of stocks , or specific equity securities , credit or other position or index . the company carries either the entire structured borrowing at fair value or bifurcates the embedded derivative and carries it at fair value . the swaps and purchased options used to economically hedge the embedded features are derivatives and also are carried at fair value . changes in fair value related to the notes and economic hedges are reported in trading revenues . see note 4 for further information on structured borrowings . subordinated debt and junior subordinated debentures . included in the company 2019s long-term borrowings are subordinated notes of $ 9275 million having a contractual weighted average coupon of 4.69% ( 4.69 % ) at december 31 , 2013 and $ 5845 million having a weighted average coupon of 4.81% ( 4.81 % ) at december 31 , 2012 . junior subordinated debentures outstanding by the company were $ 4849 million at december 31 , 2013 and $ 4827 million at december 31 , 2012 having a contractual weighted average coupon of 6.37% ( 6.37 % ) at both december 31 , 2013 and december 31 , 2012 . maturities of the subordinated and junior subordinated notes range from 2014 to 2067 . maturities of certain junior subordinated debentures can be extended to 2052 at the company 2019s option . asset and liability management . in general , securities inventories that are not financed by secured funding sources and the majority of the company 2019s assets are financed with a combination of deposits , short-term funding , floating rate long-term debt or fixed rate long-term debt swapped to a floating rate . fixed assets are generally financed with fixed rate long-term debt . the company uses interest rate swaps to more closely match these borrowings to the duration , holding period and interest rate characteristics of the assets being funded and to manage interest rate risk . these swaps effectively convert certain of the company 2019s fixed rate borrowings into floating rate obligations . in addition , for non-u.s . dollar currency borrowings that are not used to fund assets in the same currency , the company has entered into currency swaps that effectively convert the borrowings into u.s . dollar obligations . the company 2019s use of swaps for asset and liability management affected its effective average borrowing rate as follows: .
||2013|2012|2011|
|weighted average coupon of long-term borrowings at period-end ( 1 )|4.4% ( 4.4 % )|4.4% ( 4.4 % )|4.0% ( 4.0 % )|
|effective average borrowing rate for long-term borrowings after swaps at period-end ( 1 )|2.2% ( 2.2 % )|2.3% ( 2.3 % )|1.9% ( 1.9 % )|
( 1 ) included in the weighted average and effective average calculations are non-u.s . dollar interest rates . other . the company , through several of its subsidiaries , maintains funded and unfunded committed credit facilities to support various businesses , including the collateralized commercial and residential mortgage whole loan , derivative contracts , warehouse lending , emerging market loan , structured product , corporate loan , investment banking and prime brokerage businesses. .
Question: what was the effect in difference of average borrowing rate due to the use of swaps in 2012?
Answer: | 2.1 | what was the effect in difference of average borrowing rate due to the use of swaps in 2012? |
finqa1249 | Please answer the given financial question based on the context.
Context: b . investments . fixed maturity and equity security investments available for sale , at market value , reflect unrealized appreciation and depreciation , as a result of temporary changes in market value during the period , in shareholders 2019 equity , net of income taxes in 201caccumulated other comprehensive income ( loss ) 201d in the consolidated balance sheets . fixed maturity and equity securities carried at fair value reflect fair value re- measurements as net realized capital gains and losses in the consolidated statements of operations and comprehensive income ( loss ) . the company records changes in fair value for its fixed maturities available for sale , at market value through shareholders 2019 equity , net of taxes in accumulated other comprehensive income ( loss ) since cash flows from these investments will be primarily used to settle its reserve for losses and loss adjustment expense liabilities . the company anticipates holding these investments for an extended period as the cash flow from interest and maturities will fund the projected payout of these liabilities . fixed maturities carried at fair value represent a portfolio of convertible bond securities , which have characteristics similar to equity securities and at times , designated foreign denominated fixed maturity securities , which will be used to settle loss and loss adjustment reserves in the same currency . the company carries all of its equity securities at fair value except for mutual fund investments whose underlying investments are comprised of fixed maturity securities . for equity securities , available for sale , at fair value , the company reflects changes in value as net realized capital gains and losses since these securities may be sold in the near term depending on financial market conditions . interest income on all fixed maturities and dividend income on all equity securities are included as part of net investment income in the consolidated statements of operations and comprehensive income ( loss ) . unrealized losses on fixed maturities , which are deemed other-than-temporary and related to the credit quality of a security , are charged to net income ( loss ) as net realized capital losses . short-term investments are stated at cost , which approximates market value . realized gains or losses on sales of investments are determined on the basis of identified cost . for non- publicly traded securities , market prices are determined through the use of pricing models that evaluate securities relative to the u.s . treasury yield curve , taking into account the issue type , credit quality , and cash flow characteristics of each security . for publicly traded securities , market value is based on quoted market prices or valuation models that use observable market inputs . when a sector of the financial markets is inactive or illiquid , the company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value . retrospective adjustments are employed to recalculate the values of asset-backed securities . each acquisition lot is reviewed to recalculate the effective yield . the recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition . outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities . conditional prepayment rates , computed with life to date factor histories and weighted average maturities , are used to effect the calculation of projected and prepayments for pass-through security types . other invested assets include limited partnerships and rabbi trusts . limited partnerships are accounted for under the equity method of accounting , which can be recorded on a monthly or quarterly lag . c . uncollectible receivable balances . the company provides reserves for uncollectible reinsurance recoverable and premium receivable balances based on management 2019s assessment of the collectability of the outstanding balances . such reserves are presented in the table below for the periods indicated. .
|( dollars in thousands )|years ended december 31 , 2014|years ended december 31 , 2013|
|reinsurance receivables and premium receivables|$ 29497|$ 29905|
.
Question: what was the ratio of the reinsurance receivables and premium receivables from 2014 to 2013
Answer: | 0.98636 | what was the ratio of the reinsurance receivables and premium receivables from 2014 to 2013 |
finqa1250 | Please answer the given financial question based on the context.
Context: cost amount could have a material adverse effect on our business . these changes may include , for example , an increase or reduction in the number of persons enrolled or eligible to enroll due to the federal government 2019s decision to increase or decrease u.s . military presence around the world . in the event government reimbursements were to decline from projected amounts , our failure to reduce the health care costs associated with these programs could have a material adverse effect on our business . during 2004 , we completed a contractual transition of our tricare business . on july 1 , 2004 , our regions 2 and 5 contract servicing approximately 1.1 million tricare members became part of the new north region , which was awarded to another contractor . on august 1 , 2004 , our regions 3 and 4 contract became part of our new south region contract . on november 1 , 2004 , the region 6 contract with approximately 1 million members became part of the south region contract . the members added with the region 6 contract essentially offset the members lost four months earlier with the expiration of our regions 2 and 5 contract . for the year ended december 31 , 2005 , tricare premium revenues were approximately $ 2.4 billion , or 16.9% ( 16.9 % ) of our total premiums and aso fees . part of the tricare transition during 2004 included the carve out of the tricare senior pharmacy and tricare for life program which we previously administered on as aso basis . on june 1 , 2004 and august 1 , 2004 , administrative services under these programs were transferred to another contractor . for the year ended december 31 , 2005 , tricare administrative services fees totaled $ 50.1 million , or 0.4% ( 0.4 % ) of our total premiums and aso fees . our products marketed to commercial segment employers and members consumer-choice products over the last several years , we have developed and offered various commercial products designed to provide options and choices to employers that are annually facing substantial premium increases driven by double-digit medical cost inflation . these consumer-choice products , which can be offered on either a fully insured or aso basis , provided coverage to approximately 371100 members at december 31 , 2005 , representing approximately 11.7% ( 11.7 % ) of our total commercial medical membership as detailed below . consumer-choice membership other commercial membership commercial medical membership .
||consumer-choice membership|other commercial membership|commercial medical membership|
|fully insured|184000|1815800|1999800|
|administrative services only|187100|983900|1171000|
|total commercial medical|371100|2799700|3170800|
these products are often offered to employer groups as 201cbundles 201d , where the subscribers are offered various hmo and ppo options , with various employer contribution strategies as determined by the employer . paramount to our consumer-choice product strategy , we have developed a group of innovative consumer products , styled as 201csmart 201d products , that we believe will be a long-term solution for employers . we believe this new generation of products provides more ( 1 ) choices for the individual consumer , ( 2 ) transparency of provider costs , and ( 3 ) benefit designs that engage consumers in the costs and effectiveness of health care choices . innovative tools and technology are available to assist consumers with these decisions , including the trade-offs between higher premiums and point-of-service costs at the time consumers choose their plans , and to suggest ways in which the consumers can maximize their individual benefits at the point they use their plans . we believe that when consumers can make informed choices about the cost and effectiveness of their health care , a sustainable long term solution for employers can be realized . smart products , which accounted for approximately 65.1% ( 65.1 % ) of enrollment in all of our consumer-choice plans as of december 31 , 2005 , only are sold to employers who use humana as their sole health insurance carrier. .
Question: what is the value of the total premiums and aso fees , in billions?
Answer: | 12.525 | what is the value of the total premiums and aso fees , in billions? |
finqa1251 | Please answer the given financial question based on the context.
Context: does not believe are in our and our stockholders 2019 best interest . the rights plan is intended to protect stockholders in the event of an unfair or coercive offer to acquire the company and to provide our board of directors with adequate time to evaluate unsolicited offers . the rights plan may prevent or make takeovers or unsolicited corporate transactions with respect to our company more difficult , even if stockholders may consider such transactions favorable , possibly including transactions in which stockholders might otherwise receive a premium for their shares . item 1b . unresolved staff comments item 2 . properties as of december 31 , 2016 , our significant properties used in connection with switching centers , data centers , call centers and warehouses were as follows: .
||approximate number|approximate size in square feet|
|switching centers|57|1400000|
|data centers|8|600000|
|call center|16|1300000|
|warehouses|16|500000|
as of december 31 , 2016 , we leased approximately 60000 cell sites . as of december 31 , 2016 , we leased approximately 2000 t-mobile and metropcs retail locations , including stores and kiosks ranging in size from approximately 100 square feet to 17000 square feet . we currently lease office space totaling approximately 950000 square feet for our corporate headquarters in bellevue , washington . we use these offices for engineering and administrative purposes . we also lease space throughout the u.s. , totaling approximately 1200000 square feet as of december 31 , 2016 , for use by our regional offices primarily for administrative , engineering and sales purposes . item 3 . legal proceedings see note 12 2013 commitments and contingencies of the notes to the consolidated financial statements included in part ii , item 8 of this form 10-k for information regarding certain legal proceedings in which we are involved . item 4 . mine safety disclosures part ii . item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market information our common stock is traded on the nasdaq global select market of the nasdaq stock market llc ( 201cnasdaq 201d ) under the symbol 201ctmus . 201d as of december 31 , 2016 , there were 309 registered stockholders of record of our common stock , but we estimate the total number of stockholders to be much higher as a number of our shares are held by brokers or dealers for their customers in street name. .
Question: what is the ratio of the call center to the switching centers in square feet
Answer: | 0.92857 | what is the ratio of the call center to the switching centers in square feet |
finqa1252 | Please answer the given financial question based on the context.
Context: during 2005 , we amended our $ 1.0 billion unsecured revolving credit facility to extend its maturity date from march 27 , 2008 to march 27 , 2010 , and reduce the effective interest rate to libor plus 1.0% ( 1.0 % ) and the commitment fee to 0.2% ( 0.2 % ) of the undrawn portion of the facility at december 31 , 2005 . in addition , in 2005 , we entered into two $ 100.0 million unsecured term loans , due 2010 , at an effective interest rate of libor plus 0.8% ( 0.8 % ) at december 31 , 2005 . during 2004 , we entered into an eight-year , $ 225.0 million unse- cured term loan , at libor plus 1.75% ( 1.75 % ) , which was amended in 2005 to reduce the effective interest rate to libor plus 1.0% ( 1.0 % ) at december 31 , 2005 . the liquid yield option 2122 notes and the zero coupon convertible notes are unsecured zero coupon bonds with yields to maturity of 4.875% ( 4.875 % ) and 4.75% ( 4.75 % ) , respectively , due 2021 . each liquid yield option 2122 note and zero coupon convertible note was issued at a price of $ 381.63 and $ 391.06 , respectively , and will have a principal amount at maturity of $ 1000 . each liquid yield option 2122 note and zero coupon convertible note is convertible at the option of the holder into 11.7152 and 15.6675 shares of common stock , respec- tively , if the market price of our common stock reaches certain lev- els . these conditions were met at december 31 , 2005 and 2004 for the zero coupon convertible notes and at december 31 , 2004 for the liquid yield option 2122 notes . since february 2 , 2005 , we have the right to redeem the liquid yield option 2122 notes and commencing on may 18 , 2006 , we will have the right to redeem the zero coupon con- vertible notes at their accreted values for cash as a whole at any time , or from time to time in part . holders may require us to pur- chase any outstanding liquid yield option 2122 notes at their accreted value on february 2 , 2011 and any outstanding zero coupon con- vertible notes at their accreted value on may 18 , 2009 and may 18 , 2014 . we may choose to pay the purchase price in cash or common stock or a combination thereof . during 2005 , holders of our liquid yield option 2122 notes and zero coupon convertible notes converted approximately $ 10.4 million and $ 285.0 million , respectively , of the accreted value of these notes into approximately 0.3 million and 9.4 million shares , respec- tively , of our common stock and cash for fractional shares . in addi- tion , we called for redemption $ 182.3 million of the accreted bal- ance of outstanding liquid yield option 2122 notes . most holders of the liquid yield option 2122 notes elected to convert into shares of our common stock , rather than redeem for cash , resulting in the issuance of approximately 4.5 million shares . during 2005 , we prepaid a total of $ 297.0 million on a term loan secured by a certain celebrity ship and on a variable rate unsecured term loan . in 1996 , we entered into a $ 264.0 million capital lease to finance splendour of the seas and in 1995 we entered into a $ 260.0 million capital lease to finance legend of the seas . during 2005 , we paid $ 335.8 million in connection with the exercise of purchase options on these capital lease obligations . under certain of our agreements , the contractual interest rate and commitment fee vary with our debt rating . the unsecured senior notes and senior debentures are not redeemable prior to maturity . our debt agreements contain covenants that require us , among other things , to maintain minimum net worth and fixed charge cov- erage ratio and limit our debt to capital ratio . we are in compliance with all covenants as of december 31 , 2005 . following is a schedule of annual maturities on long-term debt as of december 31 , 2005 for each of the next five years ( in thousands ) : .
|2006|$ 600883|
|2007|329493|
|2008|245257|
|2009 ( 1 )|361449|
|2010|687376|
1 the $ 137.9 million accreted value of the zero coupon convertible notes at december 31 , 2005 is included in year 2009 . the holders of our zero coupon convertible notes may require us to purchase any notes outstanding at an accreted value of $ 161.7 mil- lion on may 18 , 2009 . this accreted value was calculated based on the number of notes outstanding at december 31 , 2005 . we may choose to pay any amounts in cash or common stock or a combination thereof . note 6 . shareholders 2019 equity on september 25 , 2005 , we announced that we and an investment bank had finalized a forward sale agreement relating to an asr transaction . as part of the asr transaction , we purchased 5.5 million shares of our common stock from the investment bank at an initial price of $ 45.40 per share . total consideration paid to repurchase such shares , including commissions and other fees , was approxi- mately $ 249.1 million and was recorded in shareholders 2019 equity as a component of treasury stock . the forward sale contract matured in february 2006 . during the term of the forward sale contract , the investment bank purchased shares of our common stock in the open market to settle its obliga- tion related to the shares borrowed from third parties and sold to us . upon settlement of the contract , we received 218089 additional shares of our common stock . these incremental shares will be recorded in shareholders 2019 equity as a component of treasury stock in the first quarter of 2006 . our employee stock purchase plan ( 201cespp 201d ) , which has been in effect since january 1 , 1994 , facilitates the purchase by employees of up to 800000 shares of common stock . offerings to employees are made on a quarterly basis . subject to certain limitations , the pur- chase price for each share of common stock is equal to 90% ( 90 % ) of the average of the market prices of the common stock as reported on the new york stock exchange on the first business day of the pur- chase period and the last business day of each month of the pur- chase period . shares of common stock of 14476 , 13281 and 21280 38 royal caribbean cruises ltd . notes to the consolidated financial statements ( continued ) .
Question: what percentage of debt maturity was there in 2010 , relative to 2006?
Answer: | 114.39432 | what percentage of debt maturity was there in 2010 , relative to 2006? |
finqa1253 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) provide renewal options for terms of 3 to 7 additional years . leases for retail space are for terms of 5 to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options . as of september 29 , 2007 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 1.4 billion , of which $ 1.1 billion related to leases for retail space . rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 151 million , $ 138 million , and $ 140 million in 2007 , 2006 , and 2005 , respectively . future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 29 , 2007 , are as follows ( in millions ) : fiscal years .
|2008|$ 155|
|2009|172|
|2010|173|
|2011|160|
|2012|148|
|thereafter|617|
|total minimum lease payments|$ 1425|
accrued warranty and indemnifications the company offers a basic limited parts and labor warranty on its hardware products . the basic warranty period for hardware products is typically one year from the date of purchase by the end-user . the company also offers a 90-day basic warranty for its service parts used to repair the company 2019s hardware products . the company provides currently for the estimated cost that may be incurred under its basic limited product warranties at the time related revenue is recognized . factors considered in determining appropriate accruals for product warranty obligations include the size of the installed base of products subject to warranty protection , historical and projected warranty claim rates , historical and projected cost-per-claim , and knowledge of specific product failures that are outside of the company 2019s typical experience . the company assesses the adequacy of its preexisting warranty liabilities and adjusts the amounts as necessary based on actual experience and changes in future estimates . for products accounted for under subscription accounting pursuant to sop no . 97-2 , the company recognizes warranty expense as incurred . the company periodically provides updates to its applications and system software to maintain the software 2019s compliance with specifications . the estimated cost to develop such updates is accounted for as warranty costs that are recognized at the time related software revenue is recognized . factors considered in determining appropriate accruals related to such updates include the number of units delivered , the number of updates expected to occur , and the historical cost and estimated future cost of the resources necessary to develop these updates. .
Question: what is the range between the shortest and longest length of leases for retail space , in years?
Answer: | 15.0 | what is the range between the shortest and longest length of leases for retail space , in years? |
finqa1254 | Please answer the given financial question based on the context.
Context: republic services , inc . notes to consolidated financial statements 2014 ( continued ) in december 2008 , the board of directors amended and restated the republic services , inc . 2006 incentive stock plan ( formerly known as the allied waste industries , inc . 2006 incentive stock plan ( the 2006 plan ) ) . allied 2019s shareholders approved the 2006 plan in may 2006 . the 2006 plan was amended and restated in december 2008 to reflect republic as the new sponsor of the plan , and that any references to shares of common stock are to shares of common stock of republic , and to adjust outstanding awards and the number of shares available under the plan to reflect the allied acquisition . the 2006 plan , as amended and restated , provided for the grant of non- qualified stock options , incentive stock options , shares of restricted stock , shares of phantom stock , stock bonuses , restricted stock units , stock appreciation rights , performance awards , dividend equivalents , cash awards , or other stock-based awards . awards granted under the 2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the allied acquisition . no further awards will be made under the 2006 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 ( at 3.0% ( 3.0 % ) for each of the periods presented ) 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 , 2014 , 2013 and 2012 were $ 5.74 , $ 5.27 and $ 4.77 per option , respectively , which were calculated using the following weighted-average assumptions: .
||2014|2013|2012|
|expected volatility|27.5% ( 27.5 % )|28.9% ( 28.9 % )|27.8% ( 27.8 % )|
|risk-free interest rate|1.4% ( 1.4 % )|0.7% ( 0.7 % )|0.8% ( 0.8 % )|
|dividend yield|3.2% ( 3.2 % )|3.2% ( 3.2 % )|3.2% ( 3.2 % )|
|expected life ( in years )|4.6|4.5|4.5|
|contractual life ( in years )|7.0|7.0|7.0|
.
Question: what was the percentage change in the expected volatility from 2012 to 2013
Answer: | 0.03957 | what was the percentage change in the expected volatility from 2012 to 2013 |
finqa1255 | Please answer the given financial question based on the context.
Context: on-balance sheet securitizations the company engages in on-balance sheet securitizations . these are securitizations that do not qualify for sales treatment ; thus , the assets remain on the company 2019s balance sheet . the following table presents the carrying amounts and classification of consolidated assets and liabilities transferred in transactions from the consumer credit card , student loan , mortgage and auto businesses , accounted for as secured borrowings : in billions of dollars december 31 , december 31 .
|in billions of dollars|december 31 2008|december 31 2007|
|cash|$ 0.3|$ 0.1|
|available-for-sale securities|0.1|0.2|
|loans|7.5|7.4|
|allowance for loan losses|-0.1 ( 0.1 )|-0.1 ( 0.1 )|
|total assets|$ 7.8|$ 7.6|
|long-term debt|$ 6.3|$ 5.8|
|other liabilities|0.3|0.4|
|total liabilities|$ 6.6|$ 6.2|
all assets are restricted from being sold or pledged as collateral . the cash flows from these assets are the only source used to pay down the associated liabilities , which are non-recourse to the company 2019s general assets . citi-administered asset-backed commercial paper conduits the company is active in the asset-backed commercial paper conduit business as administrator of several multi-seller commercial paper conduits , and also as a service provider to single-seller and other commercial paper conduits sponsored by third parties . the multi-seller commercial paper conduits are designed to provide the company 2019s customers access to low-cost funding in the commercial paper markets . the conduits purchase assets from or provide financing facilities to customers and are funded by issuing commercial paper to third-party investors . the conduits generally do not purchase assets originated by the company . the funding of the conduit is facilitated by the liquidity support and credit enhancements provided by the company and by certain third parties . as administrator to the conduits , the company is responsible for selecting and structuring of assets purchased or financed by the conduits , making decisions regarding the funding of the conduits , including determining the tenor and other features of the commercial paper issued , monitoring the quality and performance of the conduits 2019 assets , and facilitating the operations and cash flows of the conduits . in return , the company earns structuring fees from clients for individual transactions and earns an administration fee from the conduit , which is equal to the income from client program and liquidity fees of the conduit after payment of interest costs and other fees . this administration fee is fairly stable , since most risks and rewards of the underlying assets are passed back to the customers and , once the asset pricing is negotiated , most ongoing income , costs and fees are relatively stable as a percentage of the conduit 2019s size . the conduits administered by the company do not generally invest in liquid securities that are formally rated by third parties . the assets are privately negotiated and structured transactions that are designed to be held by the conduit , rather than actively traded and sold . the yield earned by the conduit on each asset is generally tied to the rate on the commercial paper issued by the conduit , thus passing interest rate risk to the client . each asset purchased by the conduit is structured with transaction-specific credit enhancement features provided by the third-party seller , including over- collateralization , cash and excess spread collateral accounts , direct recourse or third-party guarantees . these credit enhancements are sized with the objective of approximating a credit rating of a or above , based on the company 2019s internal risk ratings . substantially all of the funding of the conduits is in the form of short- term commercial paper . as of december 31 , 2008 , the weighted average life of the commercial paper issued was approximately 37 days . in addition , the conduits have issued subordinate loss notes and equity with a notional amount of approximately $ 80 million and varying remaining tenors ranging from six months to seven years . the primary credit enhancement provided to the conduit investors is in the form of transaction-specific credit enhancement described above . in addition , there are two additional forms of credit enhancement that protect the commercial paper investors from defaulting assets . first , the subordinate loss notes issued by each conduit absorb any credit losses up to their full notional amount . it is expected that the subordinate loss notes issued by each conduit are sufficient to absorb a majority of the expected losses from each conduit , thereby making the single investor in the subordinate loss note the primary beneficiary under fin 46 ( r ) . second , each conduit has obtained a letter of credit from the company , which is generally 8-10% ( 8-10 % ) of the conduit 2019s assets . the letters of credit provided by the company total approximately $ 5.8 billion and are included in the company 2019s maximum exposure to loss . the net result across all multi-seller conduits administered by the company is that , in the event of defaulted assets in excess of the transaction-specific credit enhancement described above , any losses in each conduit are allocated in the following order : 2022 subordinate loss note holders 2022 the company 2022 the commercial paper investors the company , along with third parties , also provides the conduits with two forms of liquidity agreements that are used to provide funding to the conduits in the event of a market disruption , among other events . each asset of the conduit is supported by a transaction-specific liquidity facility in the form of an asset purchase agreement ( apa ) . under the apa , the company has agreed to purchase non-defaulted eligible receivables from the conduit at par . any assets purchased under the apa are subject to increased pricing . the apa is not designed to provide credit support to the conduit , as it generally does not permit the purchase of defaulted or impaired assets and generally reprices the assets purchased to consider potential increased credit risk . the apa covers all assets in the conduits and is considered in the company 2019s maximum exposure to loss . in addition , the company provides the conduits with program-wide liquidity in the form of short-term lending commitments . under these commitments , the company has agreed to lend to the conduits in the event of a short-term disruption in the commercial paper market , subject to specified conditions . the total notional exposure under the program-wide liquidity agreement is $ 11.3 billion and is considered in the company 2019s maximum exposure to loss . the company receives fees for providing both types of liquidity agreement and considers these fees to be on fair market terms. .
Question: what was the change in billions of the available-for-sale securities between 2007 and 2008?
Answer: | -0.1 | what was the change in billions of the available-for-sale securities between 2007 and 2008? |
finqa1256 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co./2012 annual report 119 implementing further revisions to the capital accord in the u.s . ( such further revisions are commonly referred to as 201cbasel iii 201d ) . basel iii revised basel ii by , among other things , narrowing the definition of capital , and increasing capital requirements for specific exposures . basel iii also includes higher capital ratio requirements and provides that the tier 1 common capital requirement will be increased to 7% ( 7 % ) , comprised of a minimum ratio of 4.5% ( 4.5 % ) plus a 2.5% ( 2.5 % ) capital conservation buffer . implementation of the 7% ( 7 % ) tier 1 common capital requirement is required by january 1 , in addition , global systemically important banks ( 201cgsibs 201d ) will be required to maintain tier 1 common requirements above the 7% ( 7 % ) minimum in amounts ranging from an additional 1% ( 1 % ) to an additional 2.5% ( 2.5 % ) . in november 2012 , the financial stability board ( 201cfsb 201d ) indicated that it would require the firm , as well as three other banks , to hold the additional 2.5% ( 2.5 % ) of tier 1 common ; the requirement will be phased in beginning in 2016 . the basel committee also stated it intended to require certain gsibs to hold an additional 1% ( 1 % ) of tier 1 common under certain circumstances , to act as a disincentive for the gsib from taking actions that would further increase its systemic importance . currently , no gsib ( including the firm ) is required to hold this additional 1% ( 1 % ) of tier 1 common . in addition , pursuant to the requirements of the dodd-frank act , u.s . federal banking agencies have proposed certain permanent basel i floors under basel ii and basel iii capital calculations . the following table presents a comparison of the firm 2019s tier 1 common under basel i rules to its estimated tier 1 common under basel iii rules , along with the firm 2019s estimated risk-weighted assets . tier 1 common under basel iii includes additional adjustments and deductions not included in basel i tier 1 common , such as the inclusion of aoci related to afs securities and defined benefit pension and other postretirement employee benefit ( 201copeb 201d ) plans . the firm estimates that its tier 1 common ratio under basel iii rules would be 8.7% ( 8.7 % ) as of december 31 , 2012 . the tier 1 common ratio under both basel i and basel iii are non- gaap financial measures . however , such measures are used by bank regulators , investors and analysts as a key measure to assess the firm 2019s capital position and to compare the firm 2019s capital to that of other financial services companies . december 31 , 2012 ( in millions , except ratios ) .
|tier 1 common under basel i rules|$ 140342|
|adjustments related to aoci for afs securities and defined benefit pension and opeb plans|4077|
|all other adjustments|-453 ( 453 )|
|estimated tier 1 common under basel iii rules|$ 143966|
|estimated risk-weighted assets under basel iii rules ( a )|$ 1647903|
|estimated tier 1 common ratio under basel iii rules ( b )|8.7% ( 8.7 % )|
estimated risk-weighted assets under basel iii rules ( a ) $ 1647903 estimated tier 1 common ratio under basel iii rules ( b ) 8.7% ( 8.7 % ) ( a ) key differences in the calculation of risk-weighted assets between basel i and basel iii include : ( 1 ) basel iii credit risk rwa is based on risk-sensitive approaches which largely rely on the use of internal credit models and parameters , whereas basel i rwa is based on fixed supervisory risk weightings which vary only by counterparty type and asset class ; ( 2 ) basel iii market risk rwa reflects the new capital requirements related to trading assets and securitizations , which include incremental capital requirements for stress var , correlation trading , and re-securitization positions ; and ( 3 ) basel iii includes rwa for operational risk , whereas basel i does not . the actual impact on the firm 2019s capital ratios upon implementation could differ depending on final implementation guidance from the regulators , as well as regulatory approval of certain of the firm 2019s internal risk models . ( b ) the tier 1 common ratio is tier 1 common divided by rwa . the firm 2019s estimate of its tier 1 common ratio under basel iii reflects its current understanding of the basel iii rules based on information currently published by the basel committee and u.s . federal banking agencies and on the application of such rules to its businesses as currently conducted ; it excludes the impact of any changes the firm may make in the future to its businesses as a result of implementing the basel iii rules , possible enhancements to certain market risk models , and any further implementation guidance from the regulators . the basel iii capital requirements are subject to prolonged transition periods . the transition period for banks to meet the tier 1 common requirement under basel iii was originally scheduled to begin in 2013 , with full implementation on january 1 , 2019 . in november 2012 , the u.s . federal banking agencies announced a delay in the implementation dates for the basel iii capital requirements . the additional capital requirements for gsibs will be phased in starting january 1 , 2016 , with full implementation on january 1 , 2019 . management 2019s current objective is for the firm to reach , by the end of 2013 , an estimated basel iii tier i common ratio of 9.5% ( 9.5 % ) . additional information regarding the firm 2019s capital ratios and the federal regulatory capital standards to which it is subject is presented in supervision and regulation on pages 1 20138 of the 2012 form 10-k , and note 28 on pages 306 2013 308 of this annual report . broker-dealer regulatory capital jpmorgan chase 2019s principal u.s . broker-dealer subsidiaries are j.p . morgan securities llc ( 201cjpmorgan securities 201d ) and j.p . morgan clearing corp . ( 201cjpmorgan clearing 201d ) . jpmorgan clearing is a subsidiary of jpmorgan securities and provides clearing and settlement services . jpmorgan securities and jpmorgan clearing are each subject to rule 15c3-1 under the securities exchange act of 1934 ( the 201cnet capital rule 201d ) . jpmorgan securities and jpmorgan clearing are also each registered as futures commission merchants and subject to rule 1.17 of the commodity futures trading commission ( 201ccftc 201d ) . jpmorgan securities and jpmorgan clearing have elected to compute their minimum net capital requirements in accordance with the 201calternative net capital requirements 201d of the net capital rule . at december 31 , 2012 , jpmorgan securities 2019 net capital , as defined by the net capital rule , was $ 13.5 billion , exceeding the minimum requirement by .
Question: in 2012 what was the percent of the adjustments related to aoci for afs securities and defined benefit pension and opeb plans as part of the tier 1 common under basel i rules
Answer: | 0.02905 | in 2012 what was the percent of the adjustments related to aoci for afs securities and defined benefit pension and opeb plans as part of the tier 1 common under basel i rules |
finqa1257 | Please answer the given financial question based on the context.
Context: frequency ( aehf ) system , orion , global positioning satellite ( gps ) iii system , geostationary operational environmental satellite r-series ( goes-r ) , and mobile user objective system ( muos ) . operating profit for our space systems business segment includes our share of earnings for our investment in united launch alliance ( ula ) , which provides expendable launch services to the u.s . government . space systems 2019 operating results included the following ( in millions ) : .
||2013|2012|2011|
|net sales|$ 7958|$ 8347|$ 8161|
|operating profit|1045|1083|1063|
|operating margins|13.1% ( 13.1 % )|13.0% ( 13.0 % )|13.0% ( 13.0 % )|
|backlog at year-end|20500|18100|16000|
2013 compared to 2012 space systems 2019 net sales for 2013 decreased $ 389 million , or 5% ( 5 % ) , compared to 2012 . the decrease was primarily attributable to lower net sales of approximately $ 305 million for commercial satellite programs due to fewer deliveries ( zero delivered during 2013 compared to two for 2012 ) ; and about $ 290 million for the orion program due to lower volume . the decreases were partially offset by higher net sales of approximately $ 130 million for government satellite programs due to net increased volume ; and about $ 65 million for strategic and defensive missile programs ( primarily fbm ) due to increased volume and risk retirements . the increase for government satellite programs was primarily attributable to higher volume on aehf and other programs , partially offset by lower volume on goes-r , muos , and sbirs programs . space systems 2019 operating profit for 2013 decreased $ 38 million , or 4% ( 4 % ) , compared to 2012 . the decrease was primarily attributable to lower operating profit of approximately $ 50 million for the orion program due to lower volume and risk retirements and about $ 30 million for government satellite programs due to decreased risk retirements , which were partially offset by higher equity earnings from joint ventures of approximately $ 35 million . the decrease in operating profit for government satellite programs was primarily attributable to lower risk retirements for muos , gps iii , and other programs , partially offset by higher risk retirements for the sbirs and aehf programs . operating profit for 2013 included about $ 15 million of charges , net of recoveries , related to the november 2013 restructuring plan . adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 15 million lower for 2013 compared to 2012 . 2012 compared to 2011 space systems 2019 net sales for 2012 increased $ 186 million , or 2% ( 2 % ) , compared to 2011 . the increase was attributable to higher net sales of approximately $ 150 million due to increased commercial satellite deliveries ( two commercial satellites delivered in 2012 compared to one during 2011 ) ; about $ 125 million from the orion program due to higher volume and an increase in risk retirements ; and approximately $ 70 million from increased volume on various strategic and defensive missile programs . partially offsetting the increases were lower net sales of approximately $ 105 million from certain government satellite programs ( primarily sbirs and muos ) as a result of decreased volume and a decline in risk retirements ; and about $ 55 million from the nasa external tank program , which ended in connection with the completion of the space shuttle program in 2011 . space systems 2019 operating profit for 2012 increased $ 20 million , or 2% ( 2 % ) , compared to 2011 . the increase was attributable to higher operating profit of approximately $ 60 million from commercial satellite programs due to increased deliveries and reserves recorded in 2011 ; and about $ 40 million from the orion program due to higher risk retirements and increased volume . partially offsetting the increases was lower operating profit of approximately $ 45 million from lower volume and risk retirements on certain government satellite programs ( primarily sbirs ) ; about $ 20 million from lower risk retirements and lower volume on the nasa external tank program , which ended in connection with the completion of the space shuttle program in 2011 ; and approximately $ 20 million from lower equity earnings as a decline in launch related activities at ula partially was offset by the resolution of contract cost matters associated with the wind-down of united space alliance ( usa ) . adjustments not related to volume , including net profit booking rate adjustments described above , were approximately $ 15 million higher for 2012 compared to 2011 . equity earnings total equity earnings recognized by space systems ( primarily ula in 2013 ) represented approximately $ 300 million , or 29% ( 29 % ) of this segment 2019s operating profit during 2013 . during 2012 and 2011 , total equity earnings recognized by space systems from ula , usa , and the u.k . atomic weapons establishment joint venture represented approximately $ 265 million and $ 285 million , or 24% ( 24 % ) and 27% ( 27 % ) of this segment 2019s operating profit. .
Question: what were average operating profit for space systems from 2011 to 2013 in millions?
Answer: | 1063.66667 | what were average operating profit for space systems from 2011 to 2013 in millions? |
finqa1258 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis scenario analyses . we conduct various scenario analyses including as part of the comprehensive capital analysis and review ( ccar ) and dodd-frank act stress tests ( dfast ) , as well as our resolution and recovery planning . see 201cequity capital management and regulatory capital 2014 equity capital management 201d below for further information . these scenarios cover short-term and long- term time horizons using various macroeconomic and firm- specific assumptions , based on a range of economic scenarios . we use these analyses to assist us in developing our longer-term balance sheet management strategy , including the level and composition of assets , funding and equity capital . additionally , these analyses help us develop approaches for maintaining appropriate funding , liquidity and capital across a variety of situations , including a severely stressed environment . balance sheet allocation in addition to preparing our consolidated statements of financial condition in accordance with u.s . gaap , we prepare a balance sheet that generally allocates assets to our businesses , which is a non-gaap presentation and may not be comparable to similar non-gaap presentations used by other companies . we believe that presenting our assets on this basis is meaningful because it is consistent with the way management views and manages risks associated with the firm 2019s assets and better enables investors to assess the liquidity of the firm 2019s assets . the table below presents our balance sheet allocation. .
|$ in millions|as of december 2015|as of december 2014|
|global core liquid assets ( gcla )|$ 199120|$ 182947|
|other cash|9180|7805|
|gcla and cash|208300|190752|
|secured client financing|221325|210641|
|inventory|208836|230667|
|secured financing agreements|63495|74767|
|receivables|39976|47317|
|institutional client services|312307|352751|
|public equity|3991|4041|
|private equity|16985|17979|
|debt1|23216|24768|
|loans receivable2|45407|28938|
|other|4646|3771|
|investing & lending|94245|79497|
|total inventory and related assets|406552|432248|
|other assets|25218|22201|
|total assets|$ 861395|$ 855842|
1 . includes $ 17.29 billion and $ 18.24 billion as of december 2015 and december 2014 , respectively , of direct loans primarily extended to corporate and private wealth management clients that are accounted for at fair value . 2 . see note 9 to the consolidated financial statements for further information about loans receivable . the following is a description of the captions in the table above : 2030 global core liquid assets and cash . we maintain liquidity to meet a broad range of potential cash outflows and collateral needs in a stressed environment . see 201cliquidity risk management 201d below for details on the composition and sizing of our 201cglobal core liquid assets 201d ( gcla ) . in addition to our gcla , we maintain other operating cash balances , primarily for use in specific currencies , entities , or jurisdictions where we do not have immediate access to parent company liquidity . 2030 secured client financing . we provide collateralized financing for client positions , including margin loans secured by client collateral , securities borrowed , and resale agreements primarily collateralized by government obligations . as a result of client activities , we are required to segregate cash and securities to satisfy regulatory requirements . our secured client financing arrangements , which are generally short-term , are accounted for at fair value or at amounts that approximate fair value , and include daily margin requirements to mitigate counterparty credit risk . 2030 institutional client services . in institutional client services , we maintain inventory positions to facilitate market making in fixed income , equity , currency and commodity products . additionally , as part of market- making activities , we enter into resale or securities borrowing arrangements to obtain securities which we can use to cover transactions in which we or our clients have sold securities that have not yet been purchased . the receivables in institutional client services primarily relate to securities transactions . 2030 investing & lending . in investing & lending , we make investments and originate loans to provide financing to clients . these investments and loans are typically longer- term in nature . we make investments , directly and indirectly through funds and separate accounts that we manage , in debt securities , loans , public and private equity securities , real estate entities and other investments . 2030 other assets . other assets are generally less liquid , non- financial assets , including property , leasehold improvements and equipment , goodwill and identifiable intangible assets , income tax-related receivables , equity- method investments , assets classified as held for sale and miscellaneous receivables . 68 goldman sachs 2015 form 10-k .
Question: how is cash flow from operating activities affected by the change in receivables from 2014 to 2015?
Answer: | 7341.0 | how is cash flow from operating activities affected by the change in receivables from 2014 to 2015? |
finqa1259 | Please answer the given financial question based on the context.
Context: contractual obligations the following table includes aggregated information about citigroup 2019s contractual obligations that impact its short- and long-term liquidity and capital needs . the table includes information about payments due under specified contractual obligations , aggregated by type of contractual obligation . it includes the maturity profile of the company 2019s consolidated long-term debt , operating leases and other long-term liabilities . the company 2019s capital lease obligations are included in purchase obligations in the table . citigroup 2019s contractual obligations include purchase obligations that are enforceable and legally binding for the company . for the purposes of the table below , purchase obligations are included through the termination date of the respective agreements , even if the contract is renewable . many of the purchase agreements for goods or services include clauses that would allow the company to cancel the agreement with specified notice ; however , that impact is not included in the table ( unless citigroup has already notified the counterparty of its intention to terminate the agreement ) . other liabilities reflected on the company 2019s consolidated balance sheet include obligations for goods and services that have already been received , litigation settlements , uncertain tax positions , as well as other long-term liabilities that have been incurred and will ultimately be paid in cash . excluded from the following table are obligations that are generally short term in nature , including deposit liabilities and securities sold under agreements to repurchase . the table also excludes certain insurance and investment contracts subject to mortality and morbidity risks or without defined maturities , such that the timing of payments and withdrawals is uncertain . the liabilities related to these insurance and investment contracts are included on the consolidated balance sheet as insurance policy and claims reserves , contractholder funds , and separate and variable accounts . citigroup 2019s funding policy for pension plans is generally to fund to the minimum amounts required by the applicable laws and regulations . at december 31 , 2008 , there were no minimum required contributions , and no contributions are currently planned for the u.s . pension plans . accordingly , no amounts have been included in the table below for future contributions to the u.s . pension plans . for the non-u.s . plans , discretionary contributions in 2009 are anticipated to be approximately $ 167 million and this amount has been included in purchase obligations in the table below . the estimated pension plan contributions are subject to change , since contribution decisions are affected by various factors , such as market performance , regulatory and legal requirements , and management 2019s ability to change funding policy . for additional information regarding the company 2019s retirement benefit obligations , see note 9 to the consolidated financial statements on page 144. .
|in millions of dollars at year end|contractual obligations by year 2009|contractual obligations by year 2010|contractual obligations by year 2011|contractual obligations by year 2012|contractual obligations by year 2013|contractual obligations by year thereafter|
|long-term debt obligations ( 1 )|$ 88472|$ 41431|$ 42112|$ 27999|$ 25955|$ 133624|
|operating lease obligations|1470|1328|1134|1010|922|3415|
|purchase obligations|2214|750|700|444|395|1316|
|other liabilities reflected on the company 2019s consolidated balance sheet ( 2 )|38221|792|35|36|38|3193|
|total|$ 130377|$ 44301|$ 43981|$ 29489|$ 27310|$ 141548|
( 1 ) for additional information about long-term debt and trust preferred securities , see note 20 to the consolidated financial statements on page 169 . ( 2 ) relates primarily to accounts payable and accrued expenses included in other liabilities in the company 2019s consolidated balance sheet . also included are various litigation settlements. .
Question: in 2009 what was the percent of the long-term debt obligations of the total contractual obligations
Answer: | 0.67859 | in 2009 what was the percent of the long-term debt obligations of the total contractual obligations |
finqa1260 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co./2012 annual report 167 the chart shows that for year ended december 31 , 2012 , the firm posted market risk related gains on 220 of the 261 days in this period , with gains on eight days exceeding $ 200 million . the chart includes year to date losses incurred in the synthetic credit portfolio . cib and credit portfolio posted market risk-related gains on 254 days in the period . the inset graph looks at those days on which the firm experienced losses and depicts the amount by which var exceeded the actual loss on each of those days . of the losses that were sustained on the 41 days of the 261 days in the trading period , the firm sustained losses that exceeded the var measure on three of those days . these losses in excess of the var all occurred in the second quarter of 2012 and were due to the adverse effect of market movements on risk positions in the synthetic credit portfolio held by cio . during the year ended december 31 , 2012 , cib and credit portfolio experienced seven loss days ; none of the losses on those days exceeded their respective var measures . other risk measures debit valuation adjustment sensitivity the following table provides information about the gross sensitivity of dva to a one-basis-point increase in jpmorgan chase 2019s credit spreads . this sensitivity represents the impact from a one-basis-point parallel shift in jpmorgan chase 2019s entire credit curve . however , the sensitivity at a single point in time multiplied by the change in credit spread at a single maturity point may not be representative of the actual dva gain or loss realized within a period . the actual results reflect the movement in credit spreads across various maturities , which typically do not move in a parallel fashion , and is the product of a constantly changing exposure profile , among other factors . debit valuation adjustment sensitivity ( in millions ) one basis-point increase in jpmorgan chase 2019s credit spread .
|( in millions )|one basis-point increase injpmorgan chase 2019s credit spread|
|december 31 2012|$ 34|
|december 31 2011|35|
economic-value stress testing along with var , stress testing is important in measuring and controlling risk . while var reflects the risk of loss due to adverse changes in markets using recent historical market behavior as an indicator of losses , stress testing captures the firm 2019s exposure to unlikely but plausible events in abnormal markets . the firm runs weekly stress tests on market-related risks across the lines of business using multiple scenarios that assume significant changes in risk factors such as credit spreads , equity prices , interest rates , currency rates or commodity prices . the framework uses a grid-based approach , which calculates multiple magnitudes of stress for both market rallies and market sell-offs for .
Question: what was the percentage change in the one basis-point increase in jpmorgan chase 2019s credit spread from 2011 to 2012
Answer: | 0.02941 | what was the percentage change in the one basis-point increase in jpmorgan chase 2019s credit spread from 2011 to 2012 |
finqa1261 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements jpmorgan chase & co./2009 annual report 204 on the amount of interest income recognized in the firm 2019s consolidated statements of income since that date . ( b ) other changes in expected cash flows include the net impact of changes in esti- mated prepayments and reclassifications to the nonaccretable difference . on a quarterly basis , the firm updates the amount of loan principal and interest cash flows expected to be collected , incorporating assumptions regarding default rates , loss severities , the amounts and timing of prepayments and other factors that are reflective of current market conditions . probable decreases in expected loan principal cash flows trigger the recognition of impairment , which is then measured as the present value of the expected principal loss plus any related foregone interest cash flows discounted at the pool 2019s effective interest rate . impairments that occur after the acquisition date are recognized through the provision and allow- ance for loan losses . probable and significant increases in expected principal cash flows would first reverse any previously recorded allowance for loan losses ; any remaining increases are recognized prospectively as interest income . the impacts of ( i ) prepayments , ( ii ) changes in variable interest rates , and ( iii ) any other changes in the timing of expected cash flows are recognized prospectively as adjustments to interest income . disposals of loans , which may include sales of loans , receipt of payments in full by the borrower , or foreclosure , result in removal of the loan from the purchased credit-impaired portfolio . if the timing and/or amounts of expected cash flows on these purchased credit-impaired loans were determined not to be rea- sonably estimable , no interest would be accreted and the loans would be reported as nonperforming loans ; however , since the timing and amounts of expected cash flows for these purchased credit-impaired loans are reasonably estimable , interest is being accreted and the loans are being reported as performing loans . charge-offs are not recorded on purchased credit-impaired loans until actual losses exceed the estimated losses that were recorded as purchase accounting adjustments at acquisition date . to date , no charge-offs have been recorded for these loans . purchased credit-impaired loans acquired in the washington mu- tual transaction are reported in loans on the firm 2019s consolidated balance sheets . in 2009 , an allowance for loan losses of $ 1.6 billion was recorded for the prime mortgage and option arm pools of loans . the net aggregate carrying amount of the pools that have an allowance for loan losses was $ 47.2 billion at december 31 , 2009 . this allowance for loan losses is reported as a reduction of the carrying amount of the loans in the table below . the table below provides additional information about these pur- chased credit-impaired consumer loans. .
|december 31 ( in millions )|2009|2008|
|outstanding balance ( a )|$ 103369|$ 118180|
|carrying amount|79664|88813|
( a ) represents the sum of contractual principal , interest and fees earned at the reporting date . purchased credit-impaired loans are also being modified under the mha programs and the firm 2019s other loss mitigation programs . for these loans , the impact of the modification is incorporated into the firm 2019s quarterly assessment of whether a probable and/or signifi- cant change in estimated future cash flows has occurred , and the loans continue to be accounted for as and reported as purchased credit-impaired loans . foreclosed property the firm acquires property from borrowers through loan restructur- ings , workouts , and foreclosures , which is recorded in other assets on the consolidated balance sheets . property acquired may include real property ( e.g. , land , buildings , and fixtures ) and commercial and personal property ( e.g. , aircraft , railcars , and ships ) . acquired property is valued at fair value less costs to sell at acquisition . each quarter the fair value of the acquired property is reviewed and adjusted , if necessary . any adjustments to fair value in the first 90 days are charged to the allowance for loan losses and thereafter adjustments are charged/credited to noninterest revenue 2013other . operating expense , such as real estate taxes and maintenance , are charged to other expense . note 14 2013 allowance for credit losses the allowance for loan losses includes an asset-specific component , a formula-based component and a component related to purchased credit-impaired loans . the asset-specific component relates to loans considered to be impaired , which includes any loans that have been modified in a troubled debt restructuring as well as risk-rated loans that have been placed on nonaccrual status . an asset-specific allowance for impaired loans is established when the loan 2019s discounted cash flows ( or , when available , the loan 2019s observable market price ) is lower than the recorded investment in the loan . to compute the asset-specific component of the allowance , larger loans are evaluated individually , while smaller loans are evaluated as pools using historical loss experience for the respective class of assets . risk-rated loans ( primarily wholesale loans ) are pooled by risk rating , while scored loans ( i.e. , consumer loans ) are pooled by product type . the firm generally measures the asset-specific allowance as the difference between the recorded investment in the loan and the present value of the cash flows expected to be collected , dis- counted at the loan 2019s original effective interest rate . subsequent changes in measured impairment due to the impact of discounting are reported as an adjustment to the provision for loan losses , not as an adjustment to interest income . an asset-specific allowance for an impaired loan with an observable market price is measured as the difference between the recorded investment in the loan and the loan 2019s fair value . certain impaired loans that are determined to be collateral- dependent are charged-off to the fair value of the collateral less costs to sell . when collateral-dependent commercial real-estate loans are determined to be impaired , updated appraisals are typi- cally obtained and updated every six to twelve months . the firm also considers both borrower- and market-specific factors , which .
Question: what was the ratio of the allowance for loan losses that was recorded for the prime mortgage to the net aggregate carrying amount of the pools
Answer: | 0.0339 | what was the ratio of the allowance for loan losses that was recorded for the prime mortgage to the net aggregate carrying amount of the pools |
finqa1262 | Please answer the given financial question based on the context.
Context: regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded . regulatory balancing accounts include low income programs and purchased power and water accounts . debt expense is amortized over the lives of the respective issues . call premiums on the redemption of long- term debt , as well as unamortized debt expense , are deferred and amortized to the extent they will be recovered through future service rates . as a result of american water capital corp . 2019s prepayment of the 5.62% ( 5.62 % ) series c senior notes due december 21 , 2018 ( 201cseries c senior notes 201d ) and 5.77% ( 5.77 % ) series d senior notes due december 21 , 2021 ( 201cseries d senior notes 201d ) and payment of a make-whole premium amount to the holders thereof of $ 34 million , the company recorded a $ 6 million charge resulting from the early extinguishment of debt at the parent company . substantially all of the early debt extinguishment costs allocable to the company 2019s utility subsidiaries were recorded as regulatory assets that the company believes are probable of recovery in future rates . approximately $ 1 million of the early debt extinguishment costs allocable to the company 2019s utility subsidiaries was amortized in 2017 . purchase premium recoverable through rates is primarily the recovery of the acquisition premiums related to an asset acquisition by the company 2019s california utility subsidiary during 2002 , and acquisitions in 2007 by the company 2019s new jersey utility subsidiary . as authorized for recovery by the california and new jersey pucs , these costs are being amortized to depreciation and amortization in the consolidated statements of operations through november 2048 . tank painting costs are generally deferred and amortized to operations and maintenance expense in the consolidated statements of operations on a straight-line basis over periods ranging from two to fifteen years , as authorized by the regulatory authorities in their determination of rates charged for service . other regulatory assets include certain construction costs for treatment facilities , property tax stabilization , employee-related costs , deferred other postretirement benefit expense , business services project expenses , coastal water project costs , rate case expenditures and environmental remediation costs among others . these costs are deferred because the amounts are being recovered in rates or are probable of recovery through rates in future periods . regulatory liabilities regulatory liabilities generally represent amounts that are probable of being credited or refunded to customers through the rate-making process . also , if costs expected to be incurred in the future are currently being recovered through rates , the company records those expected future costs as regulatory liabilities . the following table summarizes the composition of regulatory liabilities as of december 31: .
||2017|2016|
|income taxes recovered through rates|$ 1242|$ 2014|
|removal costs recovered through rates|315|316|
|pension and other postretirement benefit balancing accounts|48|55|
|other|59|32|
|total regulatory liabilities|$ 1664|$ 403|
income taxes recovered through rates relate to deferred taxes that will likely be refunded to the company 2019s customers . on december 22 , 2017 , the tcja was signed into law , which , among other things , enacted significant and complex changes to the internal revenue code of 1986 , including a reduction in the maximum u.s . federal corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) as of january 1 , 2018 . the tcja created significant .
Question: what percentage of total regulatory liabilities consisted of income taxes recovered through rates in 2017?
Answer: | 0.74639 | what percentage of total regulatory liabilities consisted of income taxes recovered through rates in 2017? |
finqa1263 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements ( continued ) | 72 snap-on incorporated following is a reconciliation of the beginning and ending amount of unrecognized tax benefits : ( amounts in millions ) amount .
|( amounts in millions )|amount|
|unrecognized tax benefits as of december 31 2006|$ 21.3|
|gross increases 2013 tax positions in prior periods|0.5|
|gross decreases 2013 tax positions in prior periods|-0.4 ( 0.4 )|
|gross increases 2013 tax positions in the current period|0.5|
|settlements with taxing authorities|-3.0 ( 3.0 )|
|lapsing of statutes of limitations|-0.2 ( 0.2 )|
|unrecognized tax benefits as of december 29 2007|$ 18.7|
of the $ 18.7 million of unrecognized tax benefits at the end of 2007 , approximately $ 16.2 million would impact the effective income tax rate if recognized . interest and penalties related to unrecognized tax benefits are recorded in income tax expense . during the years ended december 29 , 2007 , december 30 , 2006 , and december 31 , 2005 , the company recognized approximately $ 1.2 million , $ 0.5 million and ( $ 0.5 ) million in net interest expense ( benefit ) , respectively . the company has provided for approximately $ 3.4 million , $ 2.2 million , and $ 1.7 million of accrued interest related to unrecognized tax benefits at the end of fiscal year 2007 , 2006 and 2005 , respectively . during the next 12 months , the company does not anticipate any significant changes to the total amount of unrecognized tax benefits , other than the accrual of additional interest expense in an amount similar to the prior year 2019s expense . 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 2003 , and snap-on is no longer subject to non-u.s . income tax examinations by tax authorities for years prior to 2001 . the undistributed earnings of all non-u.s . subsidiaries totaled $ 338.5 million , $ 247.4 million and $ 173.6 million at the end of fiscal 2007 , 2006 and 2005 , 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 . the american jobs creation act of 2004 ( the 201cajca 201d ) created a one-time tax incentive for u.s . corporations to repatriate accumulated foreign earnings by providing a tax deduction of 85% ( 85 % ) of qualifying dividends received from foreign affiliates . under the provisions of the ajca , snap-on repatriated approximately $ 93 million of qualifying dividends in 2005 that resulted in additional income tax expense of $ 3.3 million for the year . note 9 : short-term and long-term debt notes payable and long-term debt as of december 29 , 2007 , was $ 517.9 million ; no commercial paper was outstanding at december 29 , 2007 . as of december 30 , 2006 , notes payable and long-term debt was $ 549.2 million , including $ 314.9 million of commercial paper . snap-on presented $ 300 million of the december 30 , 2006 , outstanding commercial paper as 201clong-term debt 201d on the accompanying december 30 , 2006 , consolidated balance sheet . on january 12 , 2007 , snap-on sold $ 300 million of unsecured notes consisting of $ 150 million of floating rate notes that mature on january 12 , 2010 , and $ 150 million of fixed rate notes that mature on january 15 , 2017 . interest on the floating rate notes accrues at a rate equal to the three-month london interbank offer rate plus 0.13% ( 0.13 % ) per year and is payable quarterly . interest on the fixed rate notes accrues at a rate of 5.50% ( 5.50 % ) per year and is payable semi-annually . snap-on used the proceeds from the sale of the notes , net of $ 1.5 million of transaction costs , to repay commercial paper obligations issued to finance the acquisition of business solutions . on january 12 , 2007 , the company also terminated a $ 250 million bridge credit agreement that snap-on established prior to its acquisition of business solutions. .
Question: what is the net change amount in the balance of unrecognized tax benefits from 2006 to 2007?
Answer: | -2.6 | what is the net change amount in the balance of unrecognized tax benefits from 2006 to 2007? |
finqa1264 | Please answer the given financial question based on the context.
Context: the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis 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 , including through our merchant banking business and our special situations group , in debt securities and loans , public and private equity securities , infrastructure and real estate entities . some of these investments are made indirectly through funds that we manage . we also make unsecured and secured loans to retail clients through our digital platforms , marcus and goldman sachs private bank select ( gs select ) , respectively . the table below presents the operating results of our investing & lending segment. .
|$ in millions|year ended december 2017|year ended december 2016|year ended december 2015|
|equity securities|$ 4578|$ 2573|$ 3781|
|debt securities and loans|2003|1507|1655|
|total net revenues|6581|4080|5436|
|operating expenses|2796|2386|2402|
|pre-taxearnings|$ 3785|$ 1694|$ 3034|
operating environment . during 2017 , generally higher global equity prices and tighter credit spreads contributed to a favorable environment for our equity and debt investments . results also reflected net gains from company- specific events , including sales , and corporate performance . this environment contrasts with 2016 , where , in the first quarter of 2016 , market conditions were difficult and corporate performance , particularly in the energy sector , was impacted by a challenging macroeconomic environment . however , market conditions improved during the rest of 2016 as macroeconomic concerns moderated . if macroeconomic concerns negatively affect company-specific events or corporate performance , or if global equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted . 2017 versus 2016 . net revenues in investing & lending were $ 6.58 billion for 2017 , 61% ( 61 % ) higher than 2016 . net revenues in equity securities were $ 4.58 billion , including $ 3.82 billion of net gains from private equities and $ 762 million in net gains from public equities . net revenues in equity securities were 78% ( 78 % ) higher than 2016 , primarily reflecting a significant increase in net gains from private equities , which were positively impacted by company- specific events and corporate performance . in addition , net gains from public equities were significantly higher , as global equity prices increased during the year . of the $ 4.58 billion of net revenues in equity securities , approximately 60% ( 60 % ) was driven by net gains from company-specific events , such as sales , and public equities . net revenues in debt securities and loans were $ 2.00 billion , 33% ( 33 % ) higher than 2016 , reflecting significantly higher net interest income ( 2017 included approximately $ 1.80 billion of net interest income ) . net revenues in debt securities and loans for 2017 also included an impairment of approximately $ 130 million on a secured operating expenses were $ 2.80 billion for 2017 , 17% ( 17 % ) higher than 2016 , due to increased compensation and benefits expenses , reflecting higher net revenues , increased expenses related to consolidated investments , and increased expenses related to marcus . pre-tax earnings were $ 3.79 billion in 2017 compared with $ 1.69 billion in 2016 . 2016 versus 2015 . net revenues in investing & lending were $ 4.08 billion for 2016 , 25% ( 25 % ) lower than 2015 . net revenues in equity securities were $ 2.57 billion , including $ 2.17 billion of net gains from private equities and $ 402 million in net gains from public equities . net revenues in equity securities were 32% ( 32 % ) lower than 2015 , primarily reflecting a significant decrease in net gains from private equities , driven by company-specific events and corporate performance . net revenues in debt securities and loans were $ 1.51 billion , 9% ( 9 % ) lower than 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 . goldman sachs 2017 form 10-k 61 .
Question: net revenues in equity securities were what in billions for 2017 when including net gains from private equities?
Answer: | 8.4 | net revenues in equity securities were what in billions for 2017 when including net gains from private equities? |
finqa1265 | Please answer the given financial question based on the context.
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: .
||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 % )|
( 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. .
Question: what were average state and local income taxes after federal income tax effects for the three year period , in millions?
Answer: | 3.03333 | what were average state and local income taxes after federal income tax effects for the three year period , in millions? |
finqa1266 | Please answer the given financial question based on the context.
Context: at december 31 , 2014 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations were as follows: .
|in millions|2015|2016|2017|2018|2019|thereafter|
|lease obligations|$ 142|$ 106|$ 84|$ 63|$ 45|$ 91|
|purchase obligations ( a )|3266|761|583|463|422|1690|
|total|$ 3408|$ 867|$ 667|$ 526|$ 467|$ 1781|
( a ) includes $ 2.3 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business . rent expense was $ 154 million , $ 168 million and $ 185 million for 2014 , 2013 and 2012 , respectively . guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , international paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters . where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction . environmental proceedings cercla and state actions international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , including the comprehensive environmental response , compensation and liability act ( cercla ) . many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources . while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties . remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable . international paper has estimated the probable liability associated with these matters to be approximately $ 95 million in the aggregate as of december 31 , 2014 . cass lake : one of the matters referenced above is a closed wood treating facility located in cass lake , minnesota . during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a remediation feasibility study . in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million . the overall remediation reserve for the site is currently $ 50 million to address the selection of an alternative for the soil remediation component of the overall site remedy . in october 2011 , the epa released a public statement indicating that the final soil remedy decision would be delayed . in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean- up alternative , the remediation costs could be material , and significantly higher than amounts currently recorded . in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to perform a natural resource damage assessment . it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred . other remediation costs in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 41 million as of december 31 , 2014 . other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements . legal proceedings environmental kalamazoo river : the company is a potentially responsible party with respect to the allied paper , inc./ portage creek/kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan . the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the kalamazoo river , including a paper mill formerly owned by st . regis paper company ( st . regis ) . the company is a successor in interest to st . regis . although the company has not received any orders from the epa , in december 2014 , the epa sent the company a letter demanding payment of $ 19 million to reimburse the epa for costs associated with a time critical removal action of pcb contaminated sediments from a portion of the site . the company 2019s cercla liability has not been finally determined with respect to this or any other portion of the site and we have declined to reimburse the epa at this time . as noted below , the company is involved in allocation/ apportionment litigation with regard to the site . accordingly , it is premature to estimate a loss or range of loss with respect to this site . the company was named as a defendant by georgia- pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the site . the suit .
Question: in 2016 what percentage of december 31 , 2014 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations is represented by lease obligations?
Answer: | 0.12226 | in 2016 what percentage of december 31 , 2014 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations is represented by lease obligations? |
finqa1267 | Please answer the given financial question based on the context.
Context: the liabilities recognized as a result of consolidating these entities do not represent additional claims on the general assets of the company . the creditors of these entities have claims only on the assets of the specific variable interest entities to which they have advanced credit . obligations and commitments as part of its ongoing operations , the company enters into arrangements that obligate the company to make future payments under contracts such as debt agreements , lease agreements , and unconditional purchase obligations ( i.e. , obligations to transfer funds in the future for fixed or minimum quantities of goods or services at fixed or minimum prices , such as 201ctake-or-pay 201d contracts ) . the unconditional purchase obligation arrangements are entered into by the company in its normal course of business in order to ensure adequate levels of sourced product are available to the company . capital lease and debt obligations , which totaled $ 3.5 billion at may 25 , 2008 , are currently recognized as liabilities in the company 2019s consolidated balance sheet . operating lease obligations and unconditional purchase obligations , which totaled $ 1.7 billion at may 25 , 2008 , are not recognized as liabilities in the company 2019s consolidated balance sheet , in accordance with generally accepted accounting principles . a summary of the company 2019s contractual obligations at the end of fiscal 2008 was as follows ( including obligations of discontinued operations ) : .
|( $ in millions ) contractual obligations|( $ in millions ) total|( $ in millions ) less than 1 year|( $ in millions ) 1-3 years|( $ in millions ) 3-5 years|after 5 years|
|long-term debt|$ 3531.4|$ 15.4|$ 521.6|$ 751.8|$ 2242.6|
|lease obligations|514.9|89.2|148.1|106.9|170.7|
|purchase obligations|1199.6|1078.6|104.0|16.3|0.7|
|total|$ 5245.9|$ 1183.2|$ 773.7|$ 875.0|$ 2414.0|
the purchase obligations noted in the table above do not reflect approximately $ 374 million of open purchase orders , some of which are not legally binding . these purchase orders are settlable in the ordinary course of business in less than one year . the company is also contractually obligated to pay interest on its long-term debt obligations . the weighted average interest rate of the long-term debt obligations outstanding as of may 25 , 2008 was approximately 7.2% ( 7.2 % ) . the company consolidates the assets and liabilities of certain entities from which it leases corporate aircraft . these entities have been determined to be variable interest entities and the company has been determined to be the primary beneficiary of these entities . the amounts reflected in contractual obligations of long-term debt , in the table above , include $ 54 million of liabilities of these variable interest entities to the creditors of such entities . the long-term debt recognized as a result of consolidating these entities does not represent additional claims on the general assets of the company . the creditors of these entities have claims only on the assets of the specific variable interest entities . as of may 25 , 2008 , the company was obligated to make rental payments of $ 67 million to the variable interest entities , of which $ 7 million is due in less than one year , $ 13 million is due in one to three years , and $ 47 million is due in three to five years . such amounts are not reflected in the table , above . as part of its ongoing operations , the company also enters into arrangements that obligate the company to make future cash payments only upon the occurrence of a future event ( e.g. , guarantee debt or lease payments of a third party should the third party be unable to perform ) . in accordance with generally accepted accounting principles , the following commercial commitments are not recognized as liabilities in the company 2019s .
Question: what percentage of total contractual obligations at the end of fiscal 2008 was due to lease obligations?
Answer: | 0.09815 | what percentage of total contractual obligations at the end of fiscal 2008 was due to lease obligations? |
finqa1268 | Please answer the given financial question based on the context.
Context: table of contents hologic , inc . notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) as of september 26 , 2009 , the company 2019s financial assets that are re-measured at fair value on a recurring basis consisted of $ 313 in money market mutual funds that are classified as cash and cash equivalents in the consolidated balance sheets . as there are no withdrawal restrictions , they are classified within level 1 of the fair value hierarchy and are valued using quoted market prices for identical assets . the company holds certain minority cost-method equity investments in non-publicly traded securities aggregating $ 7585 and $ 9278 at september 26 , 2009 and september 27 , 2008 , respectively , which are included in other long-term assets on the company 2019s consolidated balance sheets . these investments are generally carried at cost . as the inputs utilized for the company 2019s periodic impairment assessment are not based on observable market data , these cost method investments are classified within level 3 of the fair value hierarchy on a non-recurring basis . to determine the fair value of these investments , the company uses all available financial information related to the entities , including information based on recent or pending third-party equity investments in these entities . in certain instances , a cost method investment 2019s fair value is not estimated as there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment and to do so would be impractical . during fiscal 2009 , the company recorded other-than-temporary impairment charges totaling $ 2243 related to two of its cost method investments to adjust their carrying amounts to fair value . 7 . pension and other employee benefits the company has certain defined benefit pension plans covering the employees of its aeg german subsidiary ( the 201cpension benefits 201d ) . as of september 29 , 2007 , the company adopted sfas no . 158 , employers 2019 accounting for defined benefit pension and other postretirement plans , an amendment of fasb statements no . 87 , 88 , 106 and 132 ( r ) ( codified primarily in asc 715 , defined benefit plans ) using a prospective approach . the adoption of this standard did not impact the company 2019s compliance with its debt covenants under its credit agreements , cash position or results of operations . the following table summarizes the incremental effect of adopting this standard on individual line items in the consolidated balance sheet as of september 29 , 2007 : before adoption of sfas no . 158 adjustments ( in thousands ) adoption of sfas no . 158 .
||before adoption of sfas no . 158|adjustments ( in thousands )|after adoption of sfas no . 158|
|accumulated other comprehensive income|$ 2014|$ 2212|$ 2212|
|total stockholders 2019 equity|$ 803511|$ 2212|$ 805723|
as of september 26 , 2009 and september 27 , 2008 , the company 2019s pension liability is $ 6736 and $ 7323 , respectively , which is primarily recorded as a component of long-term liabilities in the consolidated balance sheets . under german law , there are no rules governing investment or statutory supervision of the pension plan . as such , there is no minimum funding requirement imposed on employers . pension benefits are safeguarded by the pension guaranty fund , a form of compulsory reinsurance that guarantees an employee will receive vested pension benefits in the event of insolvency . 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. .
Question: what is the net change in the equity investments in non-publicly traded securities from 2008 to 2009?
Answer: | -1693.0 | what is the net change in the equity investments in non-publicly traded securities from 2008 to 2009? |
finqa1269 | Please answer the given financial question based on the context.
Context: item 7a . quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items . from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks . derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes . interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations . the majority of our debt ( approximately 86% ( 86 % ) and 94% ( 94 % ) as of december 31 , 2018 and 2017 , respectively ) bears interest at fixed rates . we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows . the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below . increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
|as of december 31,|increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates|increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates|
|2018|$ -91.3 ( 91.3 )|$ 82.5|
|2017|-20.2 ( 20.2 )|20.6|
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates . we did not have any interest rate swaps outstanding as of december 31 , 2018 . we had $ 673.5 of cash , cash equivalents and marketable securities as of december 31 , 2018 that we generally invest in conservative , short-term bank deposits or securities . the interest income generated from these investments is subject to both domestic and foreign interest rate movements . during 2018 and 2017 , we had interest income of $ 21.8 and $ 19.4 , respectively . based on our 2018 results , a 100 basis-point increase or decrease in interest rates would affect our interest income by approximately $ 6.7 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2018 levels . foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates . since we report revenues and expenses in u.s . dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s . dollars ) from foreign operations . the foreign currencies that most favorably impacted our results during the year ended december 31 , 2018 were the euro and british pound sterling . the foreign currencies that most adversely impacted our results during the year ended december 31 , of 2018 were the argentine peso and brazilian real . based on 2018 exchange rates and operating results , if the u.s . dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2018 levels . the functional currency of our foreign operations is generally their respective local currency . assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented . the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets . our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk . however , certain subsidiaries may enter into transactions in currencies other than their functional currency . assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement . currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses . we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other .
Question: during 2017 and 2018 , what was the average interest income , in millions?
Answer: | 20.6 | during 2017 and 2018 , what was the average interest income , in millions? |
finqa1270 | Please answer the given financial question based on the context.
Context: domestic utility companies and system energy notes to respective financial statements derived from another portion of the entity that continues to apply sfas 71 should not be written off ; rather , they should be considered regulatory assets of the segment that will continue to apply sfas 71 . see note 2 to the domestic utility companies and system energy financial statements for discussion of transition to competition activity in the retail regulatory jurisdictions served by the domestic utility companies . only texas currently has an enacted retail open access law , but entergy believes that significant issues remain to be addressed by regulators , and the enacted law does not provide sufficient detail to reasonably determine the impact on entergy gulf states' regulated operations . cash and cash equivalents entergy considers all unrestricted highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents . investments with original maturities of more than three months are classified as other temporary investments on the balance sheet . investments entergy applies the provisions of sfas 115 , 201caccounting for investments for certain debt and equity securities , 201d in accounting for investments in decommissioning trust funds . as a result , entergy records the decommissioning trust funds at their fair value on the balance sheet . as of december 31 , 2002 and 2001 , the fair value of the securities held in such funds differs from the amounts deposited plus the earnings on the deposits by the following ( in millions ) : .
||2002|2001|
|entergy arkansas|$ 35.3|$ 69.8|
|entergy gulf states|$ 1.4|$ 18.5|
|entergy louisiana|( $ 0.3 )|$ 8.2|
|system energy|( $ 14.5 )|( $ 1.6 )|
in accordance with the regulatory treatment for decommissioning trust funds , entergy arkansas , entergy gulf states ( for the regulated portion of river bend ) , and entergy louisiana have recorded an offsetting amount of unrealized gains/ ( losses ) on investment securities in accumulated depreciation . for the nonregulated portion of river bend , entergy gulf states has recorded an offsetting amount of unrealized gains/ ( losses ) in other deferred credits . system energy's offsetting amount of unrealized gains/ ( losses ) on investment securities is in other regulatory liabilities . derivatives and hedging entergy implemented sfas 133 , 201caccounting for derivative instruments and hedging activities 201d on january 1 , 2001 . the statement requires that all derivatives be recognized in the balance sheet , either as assets or liabilities , at fair value . the changes in the fair value of derivatives are recorded each period in current earnings or other comprehensive income , depending on whether a derivative is designated as part of a hedge transaction and , if it is , the type of hedge transaction . for cash-flow hedge transactions in which entergy is hedging the variability of cash flows related to a variable-rate asset , liability , or forecasted transaction , changes in the fair value of the derivative instrument are reported in other comprehensive income . the gains and losses on the derivative instrument that are reported in other comprehensive income are reclassified as earnings in the periods in which earnings are impacted by the variability of the cash flows of the hedged item . the ineffective portions of all hedges are recognized in current- period earnings . contracts for commodities that will be delivered in quantities expected to be used or sold in the ordinary course of business , including certain purchases and sales of power and fuel , are not classified as derivatives. .
Question: what is the percent change in the difference in the fair value of the securities held in decommissioning trust funds and the amounts deposited plus the earnings on the deposits from 2001 to 2002 for entergy gulf states?
Answer: | 12.21429 | what is the percent change in the difference in the fair value of the securities held in decommissioning trust funds and the amounts deposited plus the earnings on the deposits from 2001 to 2002 for entergy gulf states? |
finqa1271 | Please answer the given financial question based on the context.
Context: note 10 . commitments and contingencies credit-related commitments and contingencies : credit-related financial instruments , which are off-balance sheet , include indemnified securities financing , unfunded commitments to extend credit or purchase assets , and standby letters of credit . the potential loss associated with indemnified securities financing , unfunded commitments and standby letters of credit is equal to the total gross contractual amount , which does not consider the value of any collateral . the following table summarizes the total gross contractual amounts of credit-related off-balance sheet financial instruments at december 31 . amounts reported do not reflect participations to independent third parties. .
|( in millions )|2009|2008|
|indemnified securities financing|$ 365251|$ 324590|
|asset purchase agreements ( 1 )|8211|31780|
|unfunded commitments to extend credit|18078|20981|
|standby letters of credit|4784|6061|
( 1 ) amount for 2009 excludes agreements related to the commercial paper conduits , which were consolidated in may 2009 ; see note 11 . approximately 81% ( 81 % ) of the unfunded commitments to extend credit expire within one year from the date of issue . since many of these commitments are expected to expire or renew without being drawn upon , the total commitment amount does not necessarily represent future cash requirements . securities finance : on behalf of our customers , we lend their securities to creditworthy brokers and other institutions . we generally indemnify our customers for the fair market value of those securities against a failure of the borrower to return such securities . collateral funds received in connection with our securities finance services are held by us as agent and are not recorded in our consolidated statement of condition . we require the borrowers to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the fair market value of the securities borrowed . the borrowed securities are revalued daily to determine if additional collateral is necessary . in this regard , we held , as agent , cash and u.s . government securities with an aggregate fair value of $ 375.92 billion and $ 333.07 billion as collateral for indemnified securities on loan at december 31 , 2009 and 2008 , respectively , presented in the table above . the collateral held by us is invested on behalf of our customers in accordance with their guidelines . in certain cases , the collateral is invested in third-party repurchase agreements , for which we indemnify the customer against loss of the principal invested . we require the repurchase agreement counterparty to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the amount of the repurchase agreement . the indemnified repurchase agreements and the related collateral are not recorded in our consolidated statement of condition . of the collateral of $ 375.92 billion at december 31 , 2009 and $ 333.07 billion at december 31 , 2008 referenced above , $ 77.73 billion at december 31 , 2009 and $ 68.37 billion at december 31 , 2008 was invested in indemnified repurchase agreements . we held , as agent , cash and securities with an aggregate fair value of $ 82.62 billion and $ 71.87 billion as collateral for indemnified investments in repurchase agreements at december 31 , 2009 and december 31 , 2008 , respectively . legal proceedings : in the ordinary course of business , we and our subsidiaries are involved in disputes , litigation and regulatory inquiries and investigations , both pending and threatened . these matters , if resolved adversely against us , may result in monetary damages , fines and penalties or require changes in our business practices . the resolution of these proceedings is inherently difficult to predict . however , we do not believe that the amount of any judgment , settlement or other action arising from any pending proceeding will have a material adverse effect on our consolidated financial condition , although the outcome of certain of the matters described below may have a material adverse effect on our consolidated results of operations for the period in which such matter is resolved .
Question: what is the percentage change in the standby letters of credit from 2008 to 2009?
Answer: | -0.21069 | what is the percentage change in the standby letters of credit from 2008 to 2009? |
finqa1272 | Please answer the given financial question based on the context.
Context: dish network corporation notes to consolidated financial statements - continued capital lease obligations anik f3 . anik f3 , an fss satellite , was launched and commenced commercial operation during april 2007 . this satellite is accounted for as a capital lease and depreciated over the term of the satellite service agreement . we have leased 100% ( 100 % ) of the ku-band capacity on anik f3 for a period of 15 years . ciel ii . ciel ii , a canadian dbs satellite , was launched in december 2008 and commenced commercial operation during february 2009 . this satellite is accounted for as a capital lease and depreciated over the term of the satellite service agreement . we have leased 100% ( 100 % ) of the capacity on ciel ii for an initial 10 year term . as of december 31 , 2014 and 2013 , we had $ 500 million capitalized for the estimated fair value of satellites acquired under capital leases included in 201cproperty and equipment , net , 201d with related accumulated depreciation of $ 279 million and $ 236 million , respectively . in our consolidated statements of operations and comprehensive income ( loss ) , we recognized $ 43 million , $ 43 million and $ 43 million in depreciation expense on satellites acquired under capital lease agreements during the years ended december 31 , 2014 , 2013 and 2012 , respectively . future minimum lease payments under the capital lease obligations , together with the present value of the net minimum lease payments as of december 31 , 2014 are as follows ( in thousands ) : for the years ended december 31 .
|2015|$ 77089|
|2016|76809|
|2017|76007|
|2018|75982|
|2019|50331|
|thereafter|112000|
|total minimum lease payments|468218|
|less : amount representing lease of the orbital location and estimated executory costs ( primarily insurance and maintenance ) including profit thereon included in total minimum lease payments|-220883 ( 220883 )|
|net minimum lease payments|247335|
|less : amount representing interest|-52421 ( 52421 )|
|present value of net minimum lease payments|194914|
|less : current portion|-28378 ( 28378 )|
|long-term portion of capital lease obligations|$ 166536|
the summary of future maturities of our outstanding long-term debt as of december 31 , 2014 is included in the commitments table in note 16 . 12 . income taxes and accounting for uncertainty in income taxes income taxes our income tax policy is to record the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported on our consolidated balance sheets , as well as probable operating loss , tax credit and other carryforwards . deferred tax assets are offset by valuation allowances when we believe it is more likely than not that net deferred tax assets will not be realized . we periodically evaluate our need for a valuation allowance . determining necessary valuation allowances requires us to make assessments about historical financial information as well as the timing of future events , including the probability of expected future taxable income and available tax planning opportunities . we file consolidated tax returns in the u.s . the income taxes of domestic and foreign subsidiaries not included in the u.s . tax group are presented in our consolidated financial statements based on a separate return basis for each tax paying entity. .
Question: what percentage of future minimum lease payments under the capital lease obligations is due in 2019?
Answer: | 0.10749 | what percentage of future minimum lease payments under the capital lease obligations is due in 2019? |
finqa1273 | Please answer the given financial question based on the context.
Context: insurance arrangement . as a result of the adoption of this new guidance , the company recorded a liability representing the actuarial present value of the future death benefits as of the employees 2019 expected retirement date of $ 45 million with the offset reflected as a cumulative-effect adjustment to january 1 , 2008 retained earnings and accumulated other comprehensive income ( loss ) in the amounts of $ 4 million and $ 41 million , respectively , in the company 2019s consolidated statement of stockholders 2019 equity . it is currently expected that minimal , if any , further cash payments will be required to fund these policies . the net periodic cost for these split-dollar life insurance arrangements was $ 6 million in both the years ended december 31 , 2009 and 2008 . the company has recorded a liability representing the actuarial present value of the future death benefits as of the employees 2019 expected retirement date of $ 48 million and $ 47 million as of december 31 , 2009 and december 31 , 2008 , respectively . defined contribution plan the company and certain subsidiaries have various defined contribution plans , in which all eligible employees 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 . effective january 1 , 2005 , newly hired employees have a higher maximum matching contribution at 4% ( 4 % ) on the first 5% ( 5 % ) of employee contributions , compared to 3% ( 3 % ) on the first 6% ( 6 % ) of employee contributions for employees hired prior to january 2005 . effective january 1 , 2009 , the company temporarily suspended all matching contributions to the motorola 401 ( k ) plan . the company 2019s expenses , primarily relating to the employer match , for all defined contribution plans , for the years ended december 31 , 2009 , 2008 and 2007 were $ 8 million , $ 95 million and $ 116 million , respectively . 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 existing option holders 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 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 10% ( 10 % ) 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 , 2009 , 2008 and 2007 , employees purchased 29.4 million , 18.9 million and 10.2 million shares , respectively , at purchase prices of $ 3.60 and $ 3.68 , $ 7.91 and $ 6.07 , and $ 14.93 and $ 15.02 , 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 2009 , 2008 and 2007 was $ 2.78 , $ 3.47 and $ 5.95 , respectively , using the following weighted-average assumptions : 2009 2008 2007 .
||2009|2008|2007|
|expected volatility|57.1% ( 57.1 % )|56.4% ( 56.4 % )|28.3% ( 28.3 % )|
|risk-free interest rate|1.9% ( 1.9 % )|2.4% ( 2.4 % )|4.5% ( 4.5 % )|
|dividend yield|0.0% ( 0.0 % )|2.7% ( 2.7 % )|1.1% ( 1.1 % )|
|expected life ( years )|3.9|5.5|6.5|
.
Question: what is the percent change in number of shares purchased by employees between 2008 and 2009?
Answer: | 0.55556 | what is the percent change in number of shares purchased by employees between 2008 and 2009? |
finqa1274 | Please answer the given financial question based on the context.
Context: general market conditions affecting trust asset performance , future discount rates based on average yields of high quality corporate bonds and our decisions regarding certain elective provisions of the we currently project that we will make total u.s . and foreign benefit plan contributions in 2014 of approximately $ 57 million . actual 2014 contributions could be different from our current projections , as influenced by our decision to undertake discretionary funding of our benefit trusts versus other competing investment priorities , future changes in government requirements , trust asset performance , renewals of union contracts , or higher-than-expected health care claims cost experience . we measure cash flow as net cash provided by operating activities reduced by expenditures for property additions . we use this non-gaap financial measure of cash flow to focus management and investors on the amount of cash available for debt repayment , dividend distributions , acquisition opportunities , and share repurchases . our cash flow metric is reconciled to the most comparable gaap measure , as follows: .
|( dollars in millions )|2013|2012|2011|
|net cash provided by operating activities|$ 1807|$ 1758|$ 1595|
|additions to properties|-637 ( 637 )|-533 ( 533 )|-594 ( 594 )|
|cash flow|$ 1170|$ 1225|$ 1001|
|year-over-year change|( 4.5 ) % ( % )|22.4% ( 22.4 % )||
year-over-year change ( 4.5 ) % ( % ) 22.4% ( 22.4 % ) the decrease in cash flow ( as defined ) in 2013 compared to 2012 was due primarily to higher capital expenditures . the increase in cash flow in 2012 compared to 2011 was driven by improved performance in working capital resulting from the one-time benefit derived from the pringles acquisition , as well as changes in the level of capital expenditures during the three-year period . investing activities our net cash used in investing activities for 2013 amounted to $ 641 million , a decrease of $ 2604 million compared with 2012 primarily attributable to the $ 2668 million acquisition of pringles in 2012 . capital spending in 2013 included investments in our supply chain infrastructure , and to support capacity requirements in certain markets , including pringles . in addition , we continued the investment in our information technology infrastructure related to the reimplementation and upgrade of our sap platform . net cash used in investing activities of $ 3245 million in 2012 increased by $ 2658 million compared with 2011 , due to the acquisition of pringles in 2012 . cash paid for additions to properties as a percentage of net sales has increased to 4.3% ( 4.3 % ) in 2013 , from 3.8% ( 3.8 % ) in 2012 , which was a decrease from 4.5% ( 4.5 % ) in financing activities our net cash used by financing activities was $ 1141 million for 2013 , compared to net cash provided by financing activities of $ 1317 million for 2012 and net cash used in financing activities of $ 957 million for 2011 . the increase in cash provided from financing activities in 2012 compared to 2013 and 2011 , was primarily due to the issuance of debt related to the acquisition of pringles . total debt was $ 7.4 billion at year-end 2013 and $ 7.9 billion at year-end 2012 . in february 2013 , we issued $ 250 million of two-year floating-rate u.s . dollar notes , and $ 400 million of ten-year 2.75% ( 2.75 % ) u.s . dollar notes , resulting in aggregate net proceeds after debt discount of $ 645 million . the proceeds from these notes were used for general corporate purposes , including , together with cash on hand , repayment of the $ 750 million aggregate principal amount of our 4.25% ( 4.25 % ) u.s . dollar notes due march 2013 . in may 2012 , we issued $ 350 million of three-year 1.125% ( 1.125 % ) u.s . dollar notes , $ 400 million of five-year 1.75% ( 1.75 % ) u.s . dollar notes and $ 700 million of ten-year 3.125% ( 3.125 % ) u.s . dollar notes , resulting in aggregate net proceeds after debt discount of $ 1.442 billion . the proceeds of these notes were used for general corporate purposes , including financing a portion of the acquisition of pringles . in may 2012 , we issued cdn . $ 300 million of two-year 2.10% ( 2.10 % ) fixed rate canadian dollar notes , using the proceeds from these notes for general corporate purposes , which included repayment of intercompany debt . this repayment resulted in cash available to be used for a portion of the acquisition of pringles . in december 2012 , we repaid $ 750 million five-year 5.125% ( 5.125 % ) u.s . dollar notes at maturity with commercial paper . in april 2011 , we repaid $ 945 million ten-year 6.60% ( 6.60 % ) u.s . dollar notes at maturity with commercial paper . in may 2011 , we issued $ 400 million of seven-year 3.25% ( 3.25 % ) fixed rate u.s . dollar notes , using the proceeds of $ 397 million for general corporate purposes and repayment of commercial paper . in november 2011 , we issued $ 500 million of five-year 1.875% ( 1.875 % ) fixed rate u . s . dollar notes , using the proceeds of $ 498 million for general corporate purposes and repayment of commercial paper. .
Question: in 2013 , what percent of net cash from operations is retained as cash flow?
Answer: | 0.64748 | in 2013 , what percent of net cash from operations is retained as cash flow? |
finqa1275 | Please answer the given financial question based on the context.
Context: during fiscal 2006 , we repurchased 19 million shares of common stock for an aggregate purchase price of $ 892 million , of which $ 7 million settled after the end of our fiscal year . in fiscal 2005 , we repurchased 17 million shares of common stock for an aggregate purchase price of $ 771 million . a total of 146 million shares were held in treasury at may 28 , 2006 . we also used cash from operations to repay $ 189 million in outstanding debt in fiscal 2006 . in fiscal 2005 , we repaid nearly $ 2.2 billion of debt , including the purchase of $ 760 million principal amount of our 6 percent notes due in 2012 . fiscal 2005 debt repurchase costs were $ 137 million , consisting of $ 73 million of noncash interest rate swap losses reclassified from accumulated other comprehen- sive income , $ 59 million of purchase premium and $ 5 million of noncash unamortized cost of issuance expense . capital structure in millions may 28 , may 29 .
|in millions|may 282006|may 292005|
|notes payable|$ 1503|$ 299|
|current portion of long-term debt|2131|1638|
|long-term debt|2415|4255|
|total debt|6049|6192|
|minority interests|1136|1133|
|stockholders 2019 equity|5772|5676|
|total capital|$ 12957|$ 13001|
we have $ 2.1 billion of long-term debt maturing in the next 12 months and classified as current , including $ 131 million that may mature in fiscal 2007 based on the put rights of those note holders . we believe that cash flows from operations , together with available short- and long- term debt financing , will be adequate to meet our liquidity and capital needs for at least the next 12 months . on october 28 , 2005 , we repurchased a significant portion of our zero coupon convertible debentures pursuant to put rights of the holders for an aggregate purchase price of $ 1.33 billion , including $ 77 million of accreted original issue discount . these debentures had an aggregate prin- cipal amount at maturity of $ 1.86 billion . we incurred no gain or loss from this repurchase . as of may 28 , 2006 , there were $ 371 million in aggregate principal amount at matu- rity of the debentures outstanding , or $ 268 million of accreted value . we used proceeds from the issuance of commercial paper to fund the purchase price of the deben- tures . we also have reclassified the remaining zero coupon convertible debentures to long-term debt based on the october 2008 put rights of the holders . on march 23 , 2005 , we commenced a cash tender offer for our outstanding 6 percent notes due in 2012 . the tender offer resulted in the purchase of $ 500 million principal amount of the notes . subsequent to the expiration of the tender offer , we purchased an additional $ 260 million prin- cipal amount of the notes in the open market . the aggregate purchases resulted in the debt repurchase costs as discussed above . our minority interests consist of interests in certain of our subsidiaries that are held by third parties . general mills cereals , llc ( gmc ) , our subsidiary , holds the manufac- turing assets and intellectual property associated with the production and retail sale of big g ready-to-eat cereals , progresso soups and old el paso products . in may 2002 , one of our wholly owned subsidiaries sold 150000 class a preferred membership interests in gmc to an unrelated third-party investor in exchange for $ 150 million , and in october 2004 , another of our wholly owned subsidiaries sold 835000 series b-1 preferred membership interests in gmc in exchange for $ 835 million . all interests in gmc , other than the 150000 class a interests and 835000 series b-1 interests , but including all managing member inter- ests , are held by our wholly owned subsidiaries . in fiscal 2003 , general mills capital , inc . ( gm capital ) , a subsidiary formed for the purpose of purchasing and collecting our receivables , sold $ 150 million of its series a preferred stock to an unrelated third-party investor . the class a interests of gmc receive quarterly preferred distributions at a floating rate equal to ( i ) the sum of three- month libor plus 90 basis points , divided by ( ii ) 0.965 . this rate will be adjusted by agreement between the third- party investor holding the class a interests and gmc every five years , beginning in june 2007 . under certain circum- stances , gmc also may be required to be dissolved and liquidated , including , without limitation , the bankruptcy of gmc or its subsidiaries , failure to deliver the preferred distributions , failure to comply with portfolio requirements , breaches of certain covenants , lowering of our senior debt rating below either baa3 by moody 2019s or bbb by standard & poor 2019s , and a failed attempt to remarket the class a inter- ests as a result of a breach of gmc 2019s obligations to assist in such remarketing . in the event of a liquidation of gmc , each member of gmc would receive the amount of its then current capital account balance . the managing member may avoid liquidation in most circumstances by exercising an option to purchase the class a interests . the series b-1 interests of gmc are entitled to receive quarterly preferred distributions at a fixed rate of 4.5 percent per year , which is scheduled to be reset to a new fixed rate through a remarketing in october 2007 . beginning in october 2007 , the managing member of gmc may elect to repurchase the series b-1 interests for an amount equal to the holder 2019s then current capital account balance plus any applicable make-whole amount . gmc is not required to purchase the series b-1 interests nor may these investors put these interests to us . the series b-1 interests will be exchanged for shares of our perpetual preferred stock upon the occurrence of any of the following events : our senior unsecured debt rating falling below either ba3 as rated by moody 2019s or bb- as rated by standard & poor 2019s or fitch , inc. .
Question: in fiscal 2005 debt repurchase costs what was the of noncash interest rate swap losses reclassified from accumulated other comprehen- sive income involved in the transaction
Answer: | 0.53285 | in fiscal 2005 debt repurchase costs what was the of noncash interest rate swap losses reclassified from accumulated other comprehen- sive income involved in the transaction |
finqa1276 | Please answer the given financial question based on the context.
Context: zimmer biomet holdings , inc . 2015 form 10-k annual report through february 25 , 2016 , we repurchased approximately $ 415.0 million of shares of our common stock , which includes the $ 250.0 million of shares that we repurchased from certain selling stockholders on february 10 , 2016 . in order to achieve operational synergies , we expect cash outlays related to our integration plans to be approximately $ 290.0 million in 2016 . these cash outlays are necessary to achieve our integration goals of net annual pre-tax operating profit synergies of $ 350.0 million by the end of the third year post-closing date . also as discussed in note 20 to our consolidated financial statements , as of december 31 , 2015 , a short-term liability of $ 50.0 million and long-term liability of $ 264.6 million related to durom cup product liability claims was recorded on our consolidated balance sheet . we expect to continue paying these claims over the next few years . we expect to be reimbursed a portion of these payments for product liability claims from insurance carriers . as of december 31 , 2015 , we have received a portion of the insurance proceeds we estimate we will recover . we have a long-term receivable of $ 95.3 million remaining for future expected reimbursements from our insurance carriers . we also had a short-term liability of $ 33.4 million related to biomet metal-on-metal hip implant claims . at december 31 , 2015 , we had ten tranches of senior notes outstanding as follows ( dollars in millions ) : principal interest rate maturity date .
|principal|interest rate|maturity date|
|$ 500.0|1.450% ( 1.450 % )|april 1 2017|
|1150.0|2.000|april 1 2018|
|500.0|4.625|november 30 2019|
|1500.0|2.700|april 1 2020|
|300.0|3.375|november 30 2021|
|750.0|3.150|april 1 2022|
|2000.0|3.550|april 1 2025|
|500.0|4.250|august 15 2035|
|500.0|5.750|november 30 2039|
|1250.0|4.450|august 15 2045|
we issued $ 7.65 billion of senior notes in march 2015 ( the 201cmerger notes 201d ) , the proceeds of which were used to finance a portion of the cash consideration payable in the biomet merger , pay merger related fees and expenses and pay a portion of biomet 2019s funded debt . on june 24 , 2015 , we also borrowed $ 3.0 billion on a u.s . term loan ( 201cu.s . term loan 201d ) to fund the biomet merger . we may , at our option , redeem our senior notes , in whole or in part , at any time upon payment of the principal , any applicable make-whole premium , and accrued and unpaid interest to the date of redemption . in addition , the merger notes and the 3.375% ( 3.375 % ) senior notes due 2021 may be redeemed at our option without any make-whole premium at specified dates ranging from one month to six months in advance of the scheduled maturity date . we have a $ 4.35 billion credit agreement ( 201ccredit agreement 201d ) that contains : ( i ) a 5-year unsecured u.s . term loan facility ( 201cu.s . term loan facility 201d ) in the principal amount of $ 3.0 billion , and ( ii ) a 5-year unsecured multicurrency revolving facility ( 201cmulticurrency revolving facility 201d ) in the principal amount of $ 1.35 billion . the multicurrency revolving facility will mature in may 2019 , with two one-year extensions available at our option . borrowings under the multicurrency revolving facility may be used for general corporate purposes . there were no borrowings outstanding under the multicurrency revolving facility as of december 31 , 2015 . the u.s . term loan facility will mature in june 2020 , with principal payments due beginning september 30 , 2015 , as follows : $ 75.0 million on a quarterly basis during the first three years , $ 112.5 million on a quarterly basis during the fourth year , and $ 412.5 million on a quarterly basis during the fifth year . in 2015 , we paid $ 500.0 million in principal under the u.s . term loan facility , resulting in $ 2.5 billion in outstanding borrowings as of december 31 , we and certain of our wholly owned foreign subsidiaries are the borrowers under the credit agreement . borrowings under the credit agreement bear interest at floating rates based upon indices determined by the currency of the borrowings plus an applicable margin determined by reference to our senior unsecured long-term credit rating , or at an alternate base rate , or , in the case of borrowings under the multicurrency revolving facility only , at a fixed rate determined through a competitive bid process . the credit agreement contains customary affirmative and negative covenants and events of default for an unsecured financing arrangement , including , among other things , limitations on consolidations , mergers and sales of assets . financial covenants include a consolidated indebtedness to consolidated ebitda ratio of no greater than 5.0 to 1.0 through june 24 , 2016 and no greater than 4.5 to 1.0 thereafter . if our credit rating falls below investment grade , additional restrictions would result , including restrictions on investments and payment of dividends . we were in compliance with all covenants under the credit agreement as of december 31 , 2015 . commitments under the credit agreement are subject to certain fees . on the multicurrency revolving facility , we pay a facility fee at a rate determined by reference to our senior unsecured long-term credit rating . we have a japan term loan agreement with one of the lenders under the credit agreement for 11.7 billion japanese yen that will mature on may 31 , 2018 . borrowings under the japan term loan bear interest at a fixed rate of 0.61 percent per annum until maturity . we also have other available uncommitted credit facilities totaling $ 35.8 million . we place our cash and cash equivalents in highly-rated financial institutions and limit the amount of credit exposure to any one entity . we invest only in high-quality financial instruments in accordance with our internal investment policy . as of december 31 , 2015 , we had short-term and long-term investments in debt securities with a fair value of $ 273.1 million . these investments are in debt securities of many different issuers and , therefore , we believe we have no significant concentration of risk with a single issuer . all of these debt securities remain highly rated and we believe the risk of default by the issuers is low. .
Question: what is the $ 500.0 million in principal paid in 2015 as a percentage of the $ 2.5 billion in outstanding borrowings?
Answer: | 0.2 | what is the $ 500.0 million in principal paid in 2015 as a percentage of the $ 2.5 billion in outstanding borrowings? |
finqa1277 | Please answer the given financial question based on the context.
Context: federal realty investment trust schedule iii summary of real estate and accumulated depreciation 2014continued three years ended december 31 , 2007 reconciliation of accumulated depreciation and amortization ( in thousands ) .
|balance december 31 2004|$ 595338|
|additions during period 2014depreciation and amortization expense|83656|
|deductions during period 2014disposition and retirements of property|-15244 ( 15244 )|
|balance december 31 2005|$ 663750|
|additions during period 2014depreciation and amortization expense|89564|
|deductions during period 2014disposition and retirements of property|-12807 ( 12807 )|
|balance december 31 2006|$ 740507|
|additions during period 2014depreciation and amortization expense|96454|
|deductions during period 2014disposition and retirements of property|-80258 ( 80258 )|
|balance december 31 2007|$ 756703|
.
Question: what is the increase in the deductions during 2006 and 2007 , in thousands of dollars?
Answer: | 67451.0 | what is the increase in the deductions during 2006 and 2007 , in thousands of dollars? |
finqa1278 | Please answer the given financial question based on the context.
Context: llc 201d ) , that will focus on the deployment of a nationwide 4g wire- less network . we , together with the other members of the investor group , have invested $ 3.2 billion in clearwire llc . our portion of the investment was $ 1.05 billion . as a result of our investment , we received ownership units ( 201cownership units 201d ) of clearwire llc and class b stock ( 201cvoting stock 201d ) of clearwire corporation , the pub- licly traded holding company that controls clearwire llc . the voting stock has voting rights equal to those of the publicly traded class a stock of clearwire corporation , but has only minimal economic rights . we hold our economic rights through the owner- ship units , which have limited voting rights . one ownership unit combined with one share of voting stock are exchangeable into one share of clearwire corporation 2019s publicly traded class a stock . at closing , we received 52.5 million ownership units and 52.5 million shares of voting stock , which represents an approx- imate 7% ( 7 % ) ownership interest on a fully diluted basis . during the first quarter of 2009 , the purchase price per share is expected to be adjusted based on the trading prices of clearwire corporation 2019s publicly traded class a stock . after the post-closing adjustment , we anticipate that we will have an approximate 8% ( 8 % ) ownership interest on a fully diluted basis . in connection with the clearwire transaction , we entered into an agreement with sprint that allows us to offer wireless services utilizing certain of sprint 2019s existing wireless networks and an agreement with clearwire llc that allows us to offer wireless serv- ices utilizing clearwire 2019s next generation wireless broadband network . we allocated a portion of our $ 1.05 billion investment to the related agreements . we will account for our investment under the equity method and record our share of net income or loss one quarter in arrears . clearwire llc is expected to incur losses in the early years of operation , which under the equity method of accounting , will be reflected in our future operating results and reduce the cost basis of our investment . we evaluated our investment at december 31 , 2008 to determine if an other than temporary decline in fair value below our cost basis had occurred . the primary input in estimating the fair value of our investment was the quoted market value of clearwire publicly traded class a shares at december 31 , 2008 , which declined significantly from the date of our initial agreement in may 2008 . as a result of the severe decline in the quoted market value , we recognized an impairment in other income ( expense ) of $ 600 million to adjust our cost basis in our investment to its esti- mated fair value . in the future , our evaluation of other than temporary declines in fair value of our investment will include a comparison of actual operating results and updated forecasts to the projected discounted cash flows that were used in making our initial investment decision , other impairment indicators , such as changes in competition or technology , as well as a comparison to the value that would be obtained by exchanging our investment into clearwire corporation 2019s publicly traded class a shares . cost method airtouch communications , inc . we hold two series of preferred stock of airtouch communica- tions , inc . ( 201cairtouch 201d ) , a subsidiary of vodafone , which are redeemable in april 2020 . as of december 31 , 2008 and 2007 , the airtouch preferred stock was recorded at $ 1.479 billion and $ 1.465 billion , respectively . as of december 31 , 2008 , the estimated fair value of the airtouch preferred stock was $ 1.357 billion , which is below our carrying amount . the recent decline in fair value is attributable to changes in interest rates . we have determined this decline to be temporary . the factors considered were the length of time and the extent to which the market value has been less than cost , the credit rating of airtouch , and our intent and ability to retain the investment for a period of time sufficient to allow for recovery . specifically , we expect to hold the two series of airtouch preferred stock until their redemption in 2020 . the dividend and redemption activity of the airtouch preferred stock determines the dividend and redemption payments asso- ciated with substantially all of the preferred shares issued by one of our consolidated subsidiaries , which is a vie . the subsidiary has three series of preferred stock outstanding with an aggregate redemption value of $ 1.750 billion . substantially all of the preferred shares are redeemable in april 2020 at a redemption value of $ 1.650 billion . as of december 31 , 2008 and 2007 , the two redeemable series of subsidiary preferred shares were recorded at $ 1.468 billion and $ 1.465 billion , respectively , and those amounts are included in other noncurrent liabilities . the one nonredeemable series of subsidiary preferred shares was recorded at $ 100 million as of both december 31 , 2008 and 2007 and those amounts are included in minority interest on our consolidated balance sheet . investment income ( loss ) , net .
|year ended december 31 ( in millions )|2008|2007|2006|
|gains on sales and exchanges of investments net|$ 8|$ 151|$ 733|
|investment impairment losses|-28 ( 28 )|-4 ( 4 )|-4 ( 4 )|
|unrealized gains ( losses ) on trading securities and hedged items|-1117 ( 1117 )|315|339|
|mark to market adjustments on derivatives related to trading securities and hedged items|1120|-188 ( 188 )|-238 ( 238 )|
|mark to market adjustments on derivatives|57|160|-18 ( 18 )|
|interest and dividend income|149|199|212|
|other|-100 ( 100 )|-32 ( 32 )|-34 ( 34 )|
|investment income ( loss ) net|$ 89|$ 601|$ 990|
55 comcast 2008 annual report on form 10-k .
Question: what was the percentage change in investment income ( loss ) net from 2007 to 2008?
Answer: | -512.0 | what was the percentage change in investment income ( loss ) net from 2007 to 2008? |
finqa1279 | Please answer the given financial question based on the context.
Context: part i berths at the end of 2011 . there are approximately 10 ships with an estimated 34000 berths that are expected to be placed in service in the north american cruise market between 2012 and 2016 . europe in europe , cruising represents a smaller but growing sector of the vacation industry . it has experienced a compound annual growth rate in cruise guests of approximately 9.6% ( 9.6 % ) from 2007 to 2011 and we believe this market has significant continued growth poten- tial . we estimate that europe was served by 104 ships with approximately 100000 berths at the beginning of 2007 and by 121 ships with approximately 155000 berths at the end of 2011 . there are approximately 10 ships with an estimated 28000 berths that are expected to be placed in service in the european cruise market between 2012 and 2016 . the following table details the growth in the global , north american and european cruise markets in terms of cruise guests and estimated weighted-average berths over the past five years : global cruise guests ( 1 ) weighted-average supply of berths marketed globally ( 1 ) north american cruise guests ( 2 ) weighted-average supply of berths marketed in north america ( 1 ) european cruise guests ( 3 ) weighted-average supply of berths marketed in europe ( 1 ) .
|year|global cruiseguests ( 1 )|weighted-averagesupplyofberthsmarketedglobally ( 1 )|northamericancruiseguests ( 2 )|weighted-average supply ofberths marketedin northamerica ( 1 )|europeancruiseguests|weighted-averagesupply ofberthsmarketed ineurope ( 1 )|
|2007|16586000|327000|10247000|212000|4080000|105000|
|2008|17184000|347000|10093000|219000|4500000|120000|
|2009|17340000|363000|10198000|222000|5000000|131000|
|2010|18800000|391000|10781000|232000|5540000|143000|
|2011|20227000|412000|11625000|245000|5894000|149000|
( 1 ) source : our estimates of the number of global cruise guests , and the weighted-average supply of berths marketed globally , in north america and europe are based on a combination of data that we obtain from various publicly available cruise industry trade information sources including seatrade insider and cruise line international association . in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base . ( 2 ) source : cruise line international association based on cruise guests carried for at least two consecutive nights for years 2007 through 2010 . year 2011 amounts represent our estimates ( see number 1 above ) . ( 3 ) source : european cruise council for years 2007 through 2010 . year 2011 amounts represent our estimates ( see number 1 above ) . other markets in addition to expected industry growth in north america and europe as discussed above , we expect the asia/pacific region to demonstrate an even higher growth rate in the near term , although it will continue to represent a relatively small sector compared to north america and europe . we compete with a number of cruise lines ; however , our principal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise lines , costa cruises , cunard line , holland america line , iberocruceros , p&o cruises and princess cruises ; disney cruise line ; msc cruises ; norwegian cruise line and oceania cruises . cruise lines compete with other vacation alternatives such as land-based resort hotels and sightseeing destinations for consum- ers 2019 leisure time . demand for such activities is influ- enced by political and general economic conditions . companies within the vacation market are dependent on consumer discretionary spending . operating strategies our principal operating strategies are to : and employees and protect the environment in which our vessels and organization operate , to better serve our global guest base and grow our business , order to enhance our revenues while continuing to expand and diversify our guest mix through interna- tional guest sourcing , and ensure adequate cash and liquidity , with the overall goal of maximizing our return on invested capital and long-term shareholder value , our brands throughout the world , revitalization of existing ships and the transfer of key innovations across each brand , while expanding our fleet with the new state-of-the-art cruise ships recently delivered and on order , by deploying them into those markets and itineraries that provide opportunities to optimize returns , while continuing our focus on existing key markets , support ongoing operations and initiatives , and the principal industry distribution channel , while enhancing our consumer outreach programs. .
Question: what was the total percentage increase from 2007 to 2011 in the number of berths?
Answer: | 55.0 | what was the total percentage increase from 2007 to 2011 in the number of berths? |
finqa1280 | Please answer the given financial question based on the context.
Context: challenging investment environment with $ 15.0 billion , or 95% ( 95 % ) , of net inflows coming from institutional clients , with the remaining $ 0.8 billion , or 5% ( 5 % ) , generated by retail and hnw clients . defined contribution plans of institutional clients remained a significant driver of flows . this client group added $ 13.1 billion of net new business in 2012 . during the year , americas net inflows of $ 18.5 billion were partially offset by net outflows of $ 2.6 billion collectively from emea and asia-pacific clients . the company 2019s multi-asset strategies include the following : 2022 asset allocation and balanced products represented 52% ( 52 % ) , or $ 140.2 billion , of multi-asset class aum at year-end , up $ 14.1 billion , with growth in aum driven by net new business of $ 1.6 billion and $ 12.4 billion in market and foreign exchange gains . these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget . in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions . 2022 target date and target risk products ended the year at $ 69.9 billion , up $ 20.8 billion , or 42% ( 42 % ) , since december 31 , 2011 . growth in aum was driven by net new business of $ 14.5 billion , a year-over-year organic growth rate of 30% ( 30 % ) . institutional investors represented 90% ( 90 % ) of target date and target risk aum , with defined contribution plans accounting for over 80% ( 80 % ) of aum . the remaining 10% ( 10 % ) of target date and target risk aum consisted of retail client investments . flows were driven by defined contribution investments in our lifepath and lifepath retirement income ae offerings , which are qualified investment options under the pension protection act of 2006 . these products utilize a proprietary asset allocation model that seeks to balance risk and return over an investment horizon based on the investor 2019s expected retirement timing . 2022 fiduciary management services accounted for 22% ( 22 % ) , or $ 57.7 billion , of multi-asset aum at december 31 , 2012 and increased $ 7.7 billion during the year due to market and foreign exchange gains . these are complex mandates in which pension plan sponsors retain blackrock to assume responsibility for some or all aspects of plan management . these customized services require strong partnership with the clients 2019 investment staff and trustees in order to tailor investment strategies to meet client-specific risk budgets and return objectives . alternatives component changes in alternatives aum ( dollar amounts in millions ) 12/31/2011 net new business acquired market /fx app ( dep ) 12/31/2012 .
|( dollar amounts in millions )|12/31/2011|net new business|net acquired|market /fx app ( dep )|12/31/2012|
|core|$ 63647|$ -3922 ( 3922 )|$ 6166|$ 2476|$ 68367|
|currency and commodities|41301|-1547 ( 1547 )|860|814|41428|
|alternatives|$ 104948|$ -5469 ( 5469 )|$ 7026|$ 3290|$ 109795|
alternatives aum totaled $ 109.8 billion at year-end 2012 , up $ 4.8 billion , or 5% ( 5 % ) , reflecting $ 3.3 billion in portfolio valuation gains and $ 7.0 billion in new assets related to the acquisitions of srpep , which deepened our alternatives footprint in the european and asian markets , and claymore . core alternative outflows of $ 3.9 billion were driven almost exclusively by return of capital to clients . currency net outflows of $ 5.0 billion were partially offset by net inflows of $ 3.5 billion into ishares commodity funds . we continued to make significant investments in our alternatives platform as demonstrated by our acquisition of srpep , successful closes on the renewable power initiative and our build out of an alternatives retail platform , which now stands at nearly $ 10.0 billion in aum . we believe that as alternatives become more conventional and investors adapt their asset allocation strategies to best meet their investment objectives , they will further increase their use of alternative investments to complement core holdings . institutional investors represented 69% ( 69 % ) , or $ 75.8 billion , of alternatives aum with retail and hnw investors comprising an additional 9% ( 9 % ) , or $ 9.7 billion , at year-end 2012 . ishares commodity products accounted for the remaining $ 24.3 billion , or 22% ( 22 % ) , of aum at year-end . alternative clients are geographically diversified with 56% ( 56 % ) , 26% ( 26 % ) , and 18% ( 18 % ) of clients located in the americas , emea and asia-pacific , respectively . the blackrock alternative investors ( 201cbai 201d ) group coordinates our alternative investment efforts , including .
Question: what is the growth in aum was driven by net new business as a percentage of alternative component changes in alternatives from 12/31/2012?
Answer: | 0.13206 | what is the growth in aum was driven by net new business as a percentage of alternative component changes in alternatives from 12/31/2012? |
finqa1281 | Please answer the given financial question based on the context.
Context: fidelity national information services , inc . and subsidiaries notes to consolidated financial statements - ( continued ) contingent consideration liabilities recorded in connection with business acquisitions must also be adjusted for changes in fair value until settled . see note 3 for discussion of the capital markets company bvba ( "capco" ) contingent consideration liability . ( d ) derivative financial instruments the company accounts for derivative financial instruments in accordance with financial accounting standards board accounting standards codification ( 201cfasb asc 201d ) topic 815 , derivatives and hedging . during 2016 , 2015 and 2014 , the company engaged in g hedging activities relating to its variable rate debt through the use of interest rate swaps . the company designates these interest rate swaps as cash flow hedges . the estimated fair values of the cash flow hedges are determined using level 2 type measurements . thh ey are recorded as an asset or liability of the company and are included in the accompanying consolidated balance sheets in prepaid expenses and other current assets , other non-current assets , accounts payable and accrued liabilities or other long-term liabilities , as appropriate , and as a component of accumulated other comprehensive earnings , net of deferred taxes . a portion of the amount included in accumulated other comprehensive earnings is recorded in interest expense as a yield adjustment as interest payments are made on then company 2019s term and revolving loans ( note 10 ) . the company 2019s existing cash flow hedge is highly effective and there was no impact on 2016 earnings due to hedge ineffectiveness . it is our policy to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes . as of december 31 , 2016 , we believe that our interest rate swap counterparty will be able to fulfill its obligations under our agreement . the company's foreign exchange risk management policy permits the use of derivative instruments , such as forward contracts and options , to reduce volatility in the company's results of operations and/or cash flows resulting from foreign exchange rate fluctuations . during 2016 and 2015 , the company entered into foreign currency forward exchange contracts to hedge foreign currency exposure to intercompany loans . as of december 31 , 2016 and 2015 , the notional amount of these derivatives was approximately $ 143 million and aa $ 81 million , respectively , and the fair value was nominal . these derivatives have not been designated as hedges for accounting purposes . we also use currency forward contracts to manage our exposure to fluctuations in costs caused by variations in indian rupee ( "inr" ) ii exchange rates . as of december 31 , 2016 , the notional amount of these derivatives was approximately $ 7 million and the fair value was l less than $ 1 million , which is included in prepaid expenses and other current assets in the consolidated balance sheets . these inr forward contracts are designated as cash flow hedges . the fair value of these currency forward contracts is determined using currency uu exchange market rates , obtained from reliable , independent , third party banks , at the balance sheet date . the fair value of forward rr contracts is subject to changes in currency exchange rates . the company has no ineffectiveness related to its use of currency forward ff contracts in connection with inr cash flow hedges . in september 2015 , the company entered into treasury lock hedges with a total notional amount of $ 1.0 billion , reducing the risk of changes in the benchmark index component of the 10-year treasury yield . the company def signated these derivatives as cash flow hedges . on october 13 , 2015 , in conjunction with the pricing of the $ 4.5 billion senior notes , the companyr terminated these treasury lock contracts for a cash settlement payment of $ 16 million , which was recorded as a component of other comprehensive earnings and will be reclassified as an adjustment to interest expense over the ten years during which the related interest payments that were hedged will be recognized in income . ( e ) trade receivables a summary of trade receivables , net , as of december 31 , 2016 and 2015 is as follows ( in millions ) : .
||2016|2015|
|trade receivables 2014 billed|$ 1452|$ 1546|
|trade receivables 2014 unbilled|228|201|
|total trade receivables|1680|1747|
|allowance for doubtful accounts|-41 ( 41 )|-16 ( 16 )|
|total trade receivables net|$ 1639|$ 1731|
.
Question: what was the change in millions of total trade receivables net from 2015 to 2016?
Answer: | -92.0 | what was the change in millions of total trade receivables net from 2015 to 2016? |
finqa1282 | Please answer the given financial question based on the context.
Context: stock performance graph : the graph below shows the cumulative total shareholder return assuming the investment of $ 100 , on december 31 , 2010 , and the reinvestment of dividends thereafter , if any , in the company's common stock versus the standard and poor's s&p 500 retail index ( "s&p 500 retail index" ) and the standard and poor's s&p 500 index ( "s&p 500" ) . .
|company/index|december 31 , 2010|december 31 , 2011|december 31 , 2012|december 31 , 2013|december 31 , 2014|december 31 , 2015|
|o'reilly automotive inc .|$ 100|$ 132|$ 148|$ 213|$ 319|$ 419|
|s&p 500 retail index|100|103|128|185|203|252|
|s&p 500|$ 100|$ 100|$ 113|$ 147|$ 164|$ 163|
.
Question: what is the roi of an investment in the o'reilly automotive inc . from 2010 to 2011?
Answer: | 0.32 | what is the roi of an investment in the o'reilly automotive inc . from 2010 to 2011? |
finqa1283 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) fiscal years ended may 27 , 2007 , may 28 , 2006 , and may 29 , 2005 columnar amounts in millions except per share amounts 6 . impairment of debt and equity securities during fiscal 2005 , the company determined that the carrying values of its investments in two unrelated equity method investments , a bio-fuels venture and a malt venture , were other-than-temporarily impaired and therefore recognized pre-tax impairment charges totaling $ 71.0 million ( $ 65.6 million after tax ) . during fiscal 2006 , the company recognized additional impairment charges totaling $ 75.8 million ( $ 73.1 million after tax ) of its investments in the malt venture and an unrelated investment in a foreign prepared foods business , due to further declines in the estimated proceeds from the disposition of these investments . the investment in a foreign prepared foods business was disposed of in fiscal 2006 . the extent of the impairments was determined based upon the company 2019s assessment of the recoverability of its investments based primarily upon the expected proceeds of planned dispositions of the investments . during fiscal 2007 , the company completed the disposition of the equity method investment in the malt venture for proceeds of approximately $ 24 million , including notes and other receivables totaling approximately $ 7 million . this transaction resulted in a pre-tax gain of approximately $ 4 million , with a related tax benefit of approximately $ 4 million . these charges and the subsequent gain on disposition are reflected in equity method investment earnings ( loss ) in the consolidated statements of earnings . the company held , at may 28 , 2006 , subordinated notes in the original principal amount of $ 150 million plus accrued interest of $ 50.4 million from swift foods . during the company 2019s fourth quarter of fiscal 2005 , swift foods effected changes in its capital structure . as a result of those changes , the company determined that the fair value of the subordinated notes was impaired . from the date on which the company initially determined that the value of the notes was impaired through the second quarter of fiscal 2006 , the company believed the impairment of this available-for-sale security to be temporary . as such , the company had reduced the carrying value of the note by $ 35.4 million and recorded cumulative after-tax charges of $ 21.9 million in accumulated other comprehensive income as of the end of the second quarter of fiscal 2006 . during the second half of fiscal 2006 , due to the company 2019s consideration of current conditions related to the debtor 2019s business and changes in the company 2019s intended holding period for this investment , the company determined that the impairment was other-than-temporary . accordingly , the company reduced the carrying value of the notes to approximately $ 117 million and recognized impairment charges totaling $ 82.9 million in selling , general and administrative expenses , including the reclassification of the cumulative after-tax charges of $ 21.9 million from accumulated other comprehensive income , in fiscal 2006 . during the second quarter of fiscal 2007 , the company closed on the sale of these notes for approximately $ 117 million , net of transaction expenses , resulting in no additional gain or loss . 7 . inventories the major classes of inventories are as follows: .
||2007|2006|
|raw materials and packaging|$ 1154.2|$ 985.0|
|work in progress|95.2|97.4|
|finished goods|1008.1|923.6|
|supplies and other|91.0|124.6|
|total|$ 2348.5|$ 2130.6|
raw materials and packaging includes grain , fertilizer , crude oil , and other trading and merchandising inventory of $ 691.0 million and $ 542.1 million as of the end of fiscal year 2007 and 2006 , respectively. .
Question: what percent of total inventories was comprised of raw materials and packaging in 2007?
Answer: | 0.49146 | what percent of total inventories was comprised of raw materials and packaging in 2007? |
finqa1284 | Please answer the given financial question based on the context.
Context: during the year ended december 31 , 2011 , we granted 354660 performance share units having a fair value based on our grant date closing stock price of $ 28.79 . these units are payable in stock and are subject to certain financial performance criteria . the fair value of these performance share unit awards is based on the grant date closing stock price of each respective award grant and will apply to the number of units ultimately awarded . the number of shares ultimately issued for each award will be based on our financial performance as compared to peer group companies over the performance period and can range from zero to 200% ( 200 % ) . as of december 31 , 2011 , estimated share payouts for outstanding non-vested performance share unit awards ranged from 150% ( 150 % ) to 195% ( 195 % ) . for the legacy frontier performance share units assumed at july 1 , 2011 , performance is based on market performance criteria , which is calculated as the total shareholder return achieved by hollyfrontier stockholders compared with the average shareholder return achieved by an equally-weighted peer group of independent refining companies over a three-year period . these share unit awards are payable in stock based on share price performance relative to the defined peer group and can range from zero to 125% ( 125 % ) of the initial target award . these performance share units were valued at july 1 , 2011 using a monte carlo valuation model , which simulates future stock price movements using key inputs including grant date and measurement date stock prices , expected stock price performance , expected rate of return and volatility of our stock price relative to the peer group over the three-year performance period . the fair value of these performance share units at july 1 , 2011 was $ 8.6 million . of this amount , $ 7.3 million relates to post-merger services and will be recognized ratably over the remaining service period through 2013 . a summary of performance share unit activity and changes during the year ended december 31 , 2011 is presented below: .
|performance share units|grants|
|outstanding at january 1 2011 ( non-vested )|556186|
|granted ( 1 )|354660|
|vesting and transfer of ownership to recipients|-136058 ( 136058 )|
|outstanding at december 31 2011 ( non-vested )|774788|
( 1 ) includes 225116 non-vested performance share grants under the legacy frontier plan that were outstanding and retained by hollyfrontier at july 1 , 2011 . for the year ended december 31 , 2011 we issued 178148 shares of our common stock having a fair value of $ 2.6 million related to vested performance share units . based on the weighted average grant date fair value of $ 20.71 there was $ 11.7 million of total unrecognized compensation cost related to non-vested performance share units . that cost is expected to be recognized over a weighted-average period of 1.1 years . note 7 : cash and cash equivalents and investments in marketable securities our investment portfolio at december 31 , 2011 consisted of cash , cash equivalents and investments in debt securities primarily issued by government and municipal entities . we also hold 1000000 shares of connacher oil and gas limited common stock that was received as partial consideration upon the sale of our montana refinery in we invest in highly-rated marketable debt securities , primarily issued by government and municipal entities that have maturities at the date of purchase of greater than three months . we also invest in other marketable debt securities with the maximum maturity or put date of any individual issue generally not greater than two years from the date of purchase . all of these instruments , including investments in equity securities , are classified as available- for-sale . as a result , they are reported at fair value using quoted market prices . interest income is recorded as earned . unrealized gains and losses , net of related income taxes , are reported as a component of accumulated other comprehensive income . upon sale , realized gains and losses on the sale of marketable securities are computed based on the specific identification of the underlying cost of the securities sold and the unrealized gains and losses previously reported in other comprehensive income are reclassified to current earnings. .
Question: for performance share units , without the grants during the year , what would be the balance in shares outstanding at december 31 2011 ( non-vested ) ?
Answer: | 420128.0 | for performance share units , without the grants during the year , what would be the balance in shares outstanding at december 31 2011 ( non-vested ) ? |
finqa1285 | Please answer the given financial question based on the context.
Context: stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , news corporation class a common stock , scripps network interactive , inc. , time warner , inc. , viacom , inc . class b common stock and the walt disney company . the graph assumes $ 100 originally invested on september 18 , 2008 , the date upon which our common stock began trading , in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the period september 18 , 2008 through december 31 , 2008 and the years ended december 31 , 2009 , 2010 , 2011 , and 2012 . december 31 , december 31 , december 31 , december 31 , december 31 .
||december 312008|december 312009|december 312010|december 312011|december 312012|
|disca|$ 102.53|$ 222.09|$ 301.96|$ 296.67|$ 459.67|
|discb|$ 78.53|$ 162.82|$ 225.95|$ 217.56|$ 327.11|
|disck|$ 83.69|$ 165.75|$ 229.31|$ 235.63|$ 365.63|
|s&p 500|$ 74.86|$ 92.42|$ 104.24|$ 104.23|$ 118.21|
|peer group|$ 68.79|$ 100.70|$ 121.35|$ 138.19|$ 190.58|
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2013 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference. .
Question: by what percent did the c series outperform the s&p 500 over 5 years?
Answer: | 2.09305 | by what percent did the c series outperform the s&p 500 over 5 years? |
finqa1286 | Please answer the given financial question based on the context.
Context: wood products sales in the united states in 2005 of $ 1.6 billion were up 3% ( 3 % ) from $ 1.5 billion in 2004 and 18% ( 18 % ) from $ 1.3 billion in 2003 . average price realiza- tions for lumber were up 6% ( 6 % ) and 21% ( 21 % ) in 2005 compared with 2004 and 2003 , respectively . lumber sales volumes in 2005 were up 5% ( 5 % ) versus 2004 and 10% ( 10 % ) versus 2003 . average sales prices for plywood were down 4% ( 4 % ) from 2004 , but were 15% ( 15 % ) higher than in 2003 . plywood sales volumes in 2005 were slightly higher than 2004 and 2003 . operating profits in 2005 were 18% ( 18 % ) lower than 2004 , but nearly three times higher than 2003 . lower average plywood prices and higher raw material costs more than offset the effects of higher average lumber prices , volume increases and a positive sales mix . in 2005 , log costs were up 9% ( 9 % ) versus 2004 , negatively im- pacting both plywood and lumber profits . lumber and plywood operating costs also reflected substantially higher glue and natural gas costs versus both 2004 and looking forward to the first quarter of 2006 , a con- tinued strong housing market , combined with low prod- uct inventory in the distribution chain , should translate into continued strong lumber and plywood demand . however , a possible softening of housing starts and higher interest rates later in the year could put down- ward pressure on pricing in the second half of 2006 . specialty businesses and other the specialty businesses and other segment in- cludes the operating results of arizona chemical , euro- pean distribution and , prior to its closure in 2003 , our natchez , mississippi chemical cellulose pulp mill . also included are certain divested businesses whose results are included in this segment for periods prior to their sale or closure . this segment 2019s 2005 net sales declined 18% ( 18 % ) and 26% ( 26 % ) from 2004 and 2003 , respectively . operating profits in 2005 were down substantially from both 2004 and 2003 . the decline in sales principally reflects declining contributions from businesses sold or closed . operating profits were also affected by higher energy and raw material costs in our chemical business . specialty businesses and other in millions 2005 2004 2003 .
|in millions|2005|2004|2003|
|sales|$ 915|$ 1120|$ 1235|
|operating profit|$ 4|$ 38|$ 23|
chemicals sales were $ 692 million in 2005 , com- pared with $ 672 million in 2004 and $ 625 million in 2003 . although demand was strong for most arizona chemical product lines , operating profits in 2005 were 84% ( 84 % ) and 83% ( 83 % ) lower than in 2004 and 2003 , re- spectively , due to higher energy costs in the u.s. , and higher prices and reduced availability for crude tall oil ( cto ) . in the united states , energy costs increased 41% ( 41 % ) compared to 2004 due to higher natural gas prices and supply interruption costs . cto prices increased 26% ( 26 % ) compared to 2004 , as certain energy users turned to cto as a substitute fuel for high-cost alternative energy sources such as natural gas and fuel oil . european cto receipts decreased 30% ( 30 % ) compared to 2004 due to lower yields following the finnish paper industry strike and a swedish storm that limited cto throughput and corre- sponding sales volumes . other businesses in this operating segment include operations that have been sold , closed , or are held for sale , principally the european distribution business , the oil and gas and mineral royalty business , decorative products , retail packaging , and the natchez chemical cellulose pulp mill . sales for these businesses were ap- proximately $ 223 million in 2005 ( mainly european distribution and decorative products ) compared with $ 448 million in 2004 ( mainly european distribution and decorative products ) , and $ 610 million in 2003 . liquidity and capital resources overview a major factor in international paper 2019s liquidity and capital resource planning is its generation of operat- ing cash flow , which is highly sensitive to changes in the pricing and demand for our major products . while changes in key cash operating costs , such as energy and raw material costs , do have an effect on operating cash generation , we believe that our strong focus on cost controls has improved our cash flow generation over an operating cycle . as a result , we believe that we are well positioned for improvements in operating cash flow should prices and worldwide economic conditions im- prove in the future . as part of our continuing focus on improving our return on investment , we have focused our capital spending on improving our key platform businesses in north america and in geographic areas with strong growth opportunities . spending levels have been kept below the level of depreciation and amortization charges for each of the last three years , and we anticipate con- tinuing this approach in 2006 . with the low interest rate environment in 2005 , financing activities have focused largely on the repay- ment or refinancing of higher coupon debt , resulting in a net reduction in debt of approximately $ 1.7 billion in 2005 . we plan to continue this program , with addi- tional reductions anticipated as our previously an- nounced transformation plan progresses in 2006 . our liquidity position continues to be strong , with approx- imately $ 3.2 billion of committed liquidity to cover fu- ture short-term cash flow requirements not met by operating cash flows. .
Question: what percentage of specialty businesses sales where due to chemicals sales in 2004?
Answer: | 0.6 | what percentage of specialty businesses sales where due to chemicals sales in 2004? |
finqa1287 | Please answer the given financial question based on the context.
Context: page 20 of 100 segment sales were $ 100.7 million lower in 2009 than in 2008 , primarily as a result of the impact of lower aluminum prices partially offset by an increase in sales volumes . the higher sales volumes in 2009 were the result of incremental volumes from the four plants purchased from ab inbev , partially offset by certain plant closures and lower sales volumes in the existing business . segment earnings in 2010 were $ 122.3 million higher than in 2009 primarily due to a net $ 85 million impact related to the higher sales volumes and $ 45 million of product mix and improved manufacturing performance associated with higher production . also adding to the 2010 improvement was the effect of a $ 7 million out-of-period inventory charge in 2009 . the details of the out-of-period adjustment are included in note 7 to the consolidated financial statements included within item 8 of this report . segment earnings in 2009 were higher than in 2008 due to $ 12 million of earnings contribution from the four acquired plants and approximately $ 21 million of savings associated with plant closures . partially offsetting these favorable impacts were lower carbonated soft drink and beer can sales volumes ( excluding the newly acquired plants ) and approximately $ 25 million related to higher cost inventories in the first half of 2009 . metal beverage packaging , europe .
|( $ in millions )|2010|2009|2008|
|net sales|$ 1697.6|$ 1739.5|$ 1868.7|
|segment earnings|$ 212.9|$ 214.8|$ 230.9|
|business consolidation costs ( a )|-3.2 ( 3.2 )|2212|2212|
|total segment earnings|$ 209.7|$ 214.8|$ 230.9|
( a ) further details of these items are included in note 5 to the consolidated financial statements within item 8 of this report . the metal beverage packaging , europe , segment includes metal beverage packaging products manufactured in europe . ball packaging europe has manufacturing plants located in germany , the united kingdom , france , the netherlands , poland and serbia , and is the second largest metal beverage container business in europe . segment sales in 2010 decreased $ 41.9 million compared to 2009 , primarily due to unfavorable foreign exchange effects of $ 93 million and price and mix changes , partially offset by higher sales volumes . segment sales in 2009 as compared to 2008 were $ 129.2 million lower due to $ 110 million of unfavorable foreign exchange effects , partially offset by better commercial terms . sales volumes in 2009 were essentially flat compared to those in the prior year . segment earnings in 2010 decreased $ 1.9 million compared to 2009 , primarily the result of a $ 28 million increase related to higher sales volumes , offset by $ 18 million of negative effects from foreign currency translation and $ 12 million of higher inventory and other costs . while 2009 sales volumes were consistent with the prior year , the adverse effects of foreign currency translation , both within europe and on the conversion of the euro to the u.s . dollar , reduced segment earnings by $ 8 million . also contributing to lower segment earnings were higher cost inventory carried into 2009 and a change in sales mix , partially offset by better commercial terms in some of our contracts . on january 18 , 2011 , ball acquired aerocan s.a.s . ( aerocan ) , a leading european supplier of aluminum aerosol cans and bottles , for 20ac222.4 million ( approximately $ 300 million ) in cash and assumed debt . aerocan manufactures extruded aluminum aerosol cans and bottles , and the aluminum slugs used to make them , for customers in the personal care , pharmaceutical , beverage and food industries . it operates three aerosol can manufacturing plants 2013 one each in the czech republic , france and the united kingdom 2013 and is a 51 percent owner of a joint venture aluminum slug plant in france . the four plants employ approximately 560 people . the acquisition of aerocan will allow ball to enter a growing part of the metal packaging industry and to broaden the company 2019s market development efforts into a new customer base. .
Question: the segment sales decrease in 2010 was what percent of the decrease in 2009?
Answer: | 0.6757 | the segment sales decrease in 2010 was what percent of the decrease in 2009? |
finqa1288 | Please answer the given financial question based on the context.
Context: visa inc . notes to consolidated financial statements 2014 ( continued ) september 30 , 2008 ( in millions , except as noted ) the following table sets forth the use of net proceeds of $ 19.1 billion received in connection with the company 2019s ipo in march 2008: .
||( in billions )|
|net ipo proceeds|$ 19.1|
|march 2008 redemptions of class b and class c ( series i ) common stock|-13.4 ( 13.4 )|
|funding of escrow account|-3.0 ( 3.0 )|
|balance at september 30 2008|2.7|
|october 2008 redemptions of class c ( series ii ) and class c ( series iii ) common stock|-2.7 ( 2.7 )|
|balance of proceeds following october redemptions|$ 2014|
redemptions class b common stock and class c common stock other than class c ( series ii ) common stock 2014march 2008 in march 2008 , the company completed the required redemption of a portion of the class b common stock and class c ( series i ) common stock . the company used $ 13.4 billion of net proceeds from the ipo to redeem 154738487 shares of class b common stock and 159657751 shares of class c ( series i ) common stock at a redemption price of $ 42.77 per share . after the redemptions and subject to the restrictions set forth in the company 2019s amended and restated certificate of incorporation ( the 201ccharter 201d ) and the conversion and transfer restrictions below , all outstanding shares of class b common stock are convertible into 175367482 shares of class a common stock and 152009651 shares of class c ( series i , iii and iv ) common stock are convertible into shares of class a common stock on a one-to-one basis . as a result of the initial funding of the litigation escrow account , the conversion rate applicable to class b common stock was reduced to approximately 0.71 shares of class a common stock for each share of class b common stock , and the 245513385 shares of class b common stock were convertible into 175367482 shares of class a common stock . the number of shares of class c ( series i , iii and iv ) common stock convertible into shares of class a common stock excludes those class c ( series iii ) common shares that were redeemed in october 2008 , as further described below . class c ( series iii ) common stock and class c ( series ii ) common stock 2014october 2008 as anticipated , in october 2008 , the company used $ 1.508 billion of net proceeds from the ipo for the required redemption of 35263585 shares of class c ( series iii ) common stock at a redemption price of $ 42.77 per share as required by the charter . following the october 2008 redemption , the remaining 27499203 shares of class c ( series iii ) and class c ( series iv ) common stock outstanding automatically converted into shares of class c ( series i ) common stock on a one-to-one basis . the company also used $ 1.146 billion of the net proceeds from the ipo to fund the redemption of all class c ( series ii ) common stock in october 2008 . the redemption price of $ 1.146 billion was adjusted for dividends paid and related interest , par value of related shares redeemed , and the return to visa europe of the class c ( series ii ) common stock subscription receivable outstanding , resulting in a cash payment of $ 1.136 billion . as a result of the execution of the ipo , visa europe had the option to .
Question: what portion of the ipo net proceeds was used for redemptions of class b and class c ( series i ) common stock on march 2008?
Answer: | 0.70157 | what portion of the ipo net proceeds was used for redemptions of class b and class c ( series i ) common stock on march 2008? |
finqa1289 | Please answer the given financial question based on the context.
Context: o 2019 r e i l l y a u t o m o t i v e 2 0 0 6 a n n u a l r e p o r t p a g e 38 $ 11080000 , in the years ended december 31 , 2006 , 2005 and 2004 , respectively . the remaining unrecognized compensation cost related to unvested awards at december 31 , 2006 , was $ 7702000 and the weighted-average period of time over which this cost will be recognized is 3.3 years . employee stock purchase plan the company 2019s employee stock purchase plan permits all eligible employees to purchase shares of the company 2019s common stock at 85% ( 85 % ) of the fair market value . participants may authorize the company to withhold up to 5% ( 5 % ) of their annual salary to participate in the plan . the stock purchase plan authorizes up to 2600000 shares to be granted . during the year ended december 31 , 2006 , the company issued 165306 shares under the purchase plan at a weighted average price of $ 27.36 per share . during the year ended december 31 , 2005 , the company issued 161903 shares under the purchase plan at a weighted average price of $ 27.57 per share . during the year ended december 31 , 2004 , the company issued 187754 shares under the purchase plan at a weighted average price of $ 20.85 per share . sfas no . 123r requires compensation expense to be recognized based on the discount between the grant date fair value and the employee purchase price for shares sold to employees . during the year ended december 31 , 2006 , the company recorded $ 799000 of compensation cost related to employee share purchases and a corresponding income tax benefit of $ 295000 . at december 31 , 2006 , approximately 400000 shares were reserved for future issuance . other employee benefit plans the company sponsors a contributory profit sharing and savings plan that covers substantially all employees who are at least 21 years of age and have at least six months of service . the company has agreed to make matching contributions equal to 50% ( 50 % ) of the first 2% ( 2 % ) of each employee 2019s wages that are contributed and 25% ( 25 % ) of the next 4% ( 4 % ) of each employee 2019s wages that are contributed . the company also makes additional discretionary profit sharing contributions to the plan on an annual basis as determined by the board of directors . the company 2019s matching and profit sharing contributions under this plan are funded in the form of shares of the company 2019s common stock . a total of 4200000 shares of common stock have been authorized for issuance under this plan . during the year ended december 31 , 2006 , the company recorded $ 6429000 of compensation cost for contributions to this plan and a corresponding income tax benefit of $ 2372000 . during the year ended december 31 , 2005 , the company recorded $ 6606000 of compensation cost for contributions to this plan and a corresponding income tax benefit of $ 2444000 . during the year ended december 31 , 2004 , the company recorded $ 5278000 of compensation cost for contributions to this plan and a corresponding income tax benefit of $ 1969000 . the compensation cost recorded in 2006 includes matching contributions made in 2006 and profit sharing contributions accrued in 2006 to be funded with issuance of shares of common stock in 2007 . the company issued 204000 shares in 2006 to fund profit sharing and matching contributions at an average grant date fair value of $ 34.34 . the company issued 210461 shares in 2005 to fund profit sharing and matching contributions at an average grant date fair value of $ 25.79 . the company issued 238828 shares in 2004 to fund profit sharing and matching contributions at an average grant date fair value of $ 19.36 . a portion of these shares related to profit sharing contributions accrued in prior periods . at december 31 , 2006 , approximately 1061000 shares were reserved for future issuance under this plan . the company has in effect a performance incentive plan for the company 2019s senior management under which the company awards shares of restricted stock that vest equally over a three-year period and are held in escrow until such vesting has occurred . shares are forfeited when an employee ceases employment . a total of 800000 shares of common stock have been authorized for issuance under this plan . shares awarded under this plan are valued based on the market price of the company 2019s common stock on the date of grant and compensation cost is recorded over the vesting period . the company recorded $ 416000 of compensation cost for this plan for the year ended december 31 , 2006 and recognized a corresponding income tax benefit of $ 154000 . the company recorded $ 289000 of compensation cost for this plan for the year ended december 31 , 2005 and recognized a corresponding income tax benefit of $ 107000 . the company recorded $ 248000 of compensation cost for this plan for the year ended december 31 , 2004 and recognized a corresponding income tax benefit of $ 93000 . the total fair value of shares vested ( at vest date ) for the years ended december 31 , 2006 , 2005 and 2004 were $ 503000 , $ 524000 and $ 335000 , respectively . the remaining unrecognized compensation cost related to unvested awards at december 31 , 2006 was $ 536000 . the company awarded 18698 shares under this plan in 2006 with an average grant date fair value of $ 33.12 . the company awarded 14986 shares under this plan in 2005 with an average grant date fair value of $ 25.41 . the company awarded 15834 shares under this plan in 2004 with an average grant date fair value of $ 19.05 . compensation cost for shares awarded in 2006 will be recognized over the three-year vesting period . changes in the company 2019s restricted stock for the year ended december 31 , 2006 were as follows : weighted- average grant date shares fair value .
||shares|weighted-average grant date fair value|
|non-vested at december 31 2005|15052|$ 22.68|
|granted during the period|18698|33.12|
|vested during the period|-15685 ( 15685 )|26.49|
|forfeited during the period|-1774 ( 1774 )|27.94|
|non-vested at december 31 2006|16291|$ 30.80|
at december 31 , 2006 , approximately 659000 shares were reserved for future issuance under this plan . n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( cont inued ) .
Question: what is the amount of cash raised from the issuance of shares during 2016 , in millions?
Answer: | 4.52277 | what is the amount of cash raised from the issuance of shares during 2016 , in millions? |
finqa1290 | Please answer the given financial question based on the context.
Context: ventas , inc . notes to consolidated financial statements 2014 ( continued ) if we experience certain kinds of changes of control , the issuers must make an offer to repurchase the senior notes , in whole or in part , at a purchase price in cash equal to 101% ( 101 % ) of the principal amount of the senior notes , plus any accrued and unpaid interest to the date of purchase ; provided , however , that in the event moody 2019s and s&p have confirmed their ratings at ba3 or higher and bb- or higher on the senior notes and certain other conditions are met , this repurchase obligation will not apply . mortgages at december 31 , 2006 , we had outstanding 53 mortgage loans that we assumed in connection with various acquisitions . outstanding principal balances on these loans ranged from $ 0.4 million to $ 114.4 million as of december 31 , 2006 . the loans bear interest at fixed rates ranging from 5.6% ( 5.6 % ) to 8.5% ( 8.5 % ) per annum , except with respect to eight loans with outstanding principal balances ranging from $ 0.4 million to $ 114.4 million , which bear interest at the lender 2019s variable rates , ranging from 3.6% ( 3.6 % ) to 8.5% ( 8.5 % ) per annum at of december 31 , 2006 . the fixed rate debt bears interest at a weighted average annual rate of 7.06% ( 7.06 % ) and the variable rate debt bears interest at a weighted average annual rate of 5.61% ( 5.61 % ) as of december 31 , 2006 . the loans had a weighted average maturity of eight years as of december 31 , 2006 . the $ 114.4 variable mortgage debt was repaid in january 2007 . scheduled maturities of borrowing arrangements and other provisions as of december 31 , 2006 , our indebtedness has the following maturities ( in thousands ) : .
|2007|$ 130206|
|2008|33117|
|2009|372725|
|2010|265915|
|2011|273761|
|thereafter|1261265|
|total maturities|2336989|
|less unamortized commission fees and discounts|-7936 ( 7936 )|
|senior notes payable and other debt|$ 2329053|
certain provisions of our long-term debt contain covenants that limit our ability and the ability of certain of our subsidiaries to , among other things : ( i ) incur debt ; ( ii ) make certain dividends , distributions and investments ; ( iii ) enter into certain transactions ; ( iv ) merge , consolidate or transfer certain assets ; and ( v ) sell assets . we and certain of our subsidiaries are also required to maintain total unencumbered assets of at least 150% ( 150 % ) of this group 2019s unsecured debt . derivatives and hedging in the normal course of business , we are exposed to the effect of interest rate changes . we limit these risks by following established risk management policies and procedures including the use of derivatives . for interest rate exposures , derivatives are used primarily to fix the rate on debt based on floating-rate indices and to manage the cost of borrowing obligations . we currently have an interest rate swap to manage interest rate risk ( the 201cswap 201d ) . we prohibit the use of derivative instruments for trading or speculative purposes . further , we have a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors . when viewed in conjunction with the underlying and offsetting exposure that the derivative is designed to hedge , we do not anticipate any material adverse effect on our net income or financial position in the future from the use of derivatives. .
Question: what percentage of total maturities amortize after 2011?
Answer: | 0.5397 | what percentage of total maturities amortize after 2011? |
finqa1291 | Please answer the given financial question based on the context.
Context: jpmorgan chase & co./2018 form 10-k 41 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co . ( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 index , the kbw bank index and the s&p financial index . the s&p 500 index is a commonly referenced equity benchmark in the united states of america ( 201cu.s . 201d ) , consisting of leading companies from different economic sectors . the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s . and is composed of leading national money center and regional banks and thrifts . the s&p financial index is an index of financial companies , all of which are components of the s&p 500 . the firm is a component of all three industry indices . the following table and graph assume simultaneous investments of $ 100 on december 31 , 2013 , in jpmorgan chase common stock and in each of the above indices . the comparison assumes that all dividends are reinvested . december 31 , ( in dollars ) 2013 2014 2015 2016 2017 2018 .
|december 31 ( in dollars )|2013|2014|2015|2016|2017|2018|
|jpmorgan chase|$ 100.00|$ 109.88|$ 119.07|$ 160.23|$ 203.07|$ 189.57|
|kbw bank index|100.00|109.36|109.90|141.23|167.49|137.82|
|s&p financial index|100.00|115.18|113.38|139.17|169.98|147.82|
|s&p 500 index|100.00|113.68|115.24|129.02|157.17|150.27|
december 31 , ( in dollars ) .
Question: what was the average uncompounded annual return for jpmorgan chase for the five year period?
Answer: | 37.914 | what was the average uncompounded annual return for jpmorgan chase for the five year period? |
finqa1292 | Please answer the given financial question based on the context.
Context: certain mortgage loans citigroup has elected the fair value option for certain purchased and originated prime fixed-rate and conforming adjustable-rate first mortgage loans held-for-sale . these loans are intended for sale or securitization and are hedged with derivative instruments . the company has elected the fair value option to mitigate accounting mismatches in cases where hedge .
|in millions of dollars|december 31 2009|december 31 2008|
|carrying amount reported on the consolidated balance sheet|$ 3338|$ 4273|
|aggregate fair value in excess of unpaid principalbalance|55|138|
|balance of non-accrual loans or loans more than 90 days past due|4|9|
|aggregate unpaid principal balance in excess of fair value for non-accrualloans or loans more than 90 days past due|3|2|
the changes in fair values of these mortgage loans are reported in other revenue in the company 2019s consolidated statement of income . the changes in fair value during the years ended december 31 , 2009 and 2008 due to instrument-specific credit risk resulted in a $ 10 million loss and $ 32 million loss , respectively . related interest income continues to be measured based on the contractual interest rates and reported as such in the consolidated statement of income . mortgage servicing rights the company accounts for mortgage servicing rights ( msrs ) at fair value . fair value for msrs is determined using an option-adjusted spread valuation approach . this approach consists of projecting servicing cash flows under multiple interest-rate scenarios and discounting these cash flows using risk-adjusted rates . the model assumptions used in the valuation of msrs include mortgage prepayment speeds and discount rates . the fair value of msrs is primarily affected by changes in prepayments that result from shifts in mortgage interest rates . in managing this risk , the company hedges a significant portion of the values of its msrs through the use of interest-rate derivative contracts , forward-purchase commitments of mortgage-backed securities , and purchased securities classified as trading . see note 23 to the consolidated financial statements for further discussions regarding the accounting and reporting of msrs . these msrs , which totaled $ 6.5 billion and $ 5.7 billion as of december 31 , 2009 and 2008 , respectively , are classified as mortgage servicing rights on citigroup 2019s consolidated balance sheet . changes in fair value of msrs are recorded in commissions and fees in the company 2019s consolidated statement of income . certain structured liabilities the company has elected the fair value option for certain structured liabilities whose performance is linked to structured interest rates , inflation or currency risks ( 201cstructured liabilities 201d ) . the company elected the fair value option , because these exposures are considered to be trading-related positions and , therefore , are managed on a fair value basis . these positions will continue to be classified as debt , deposits or derivatives ( trading account liabilities ) on the company 2019s consolidated balance sheet according to their legal form . for those structured liabilities classified as long-term debt for which the fair value option has been elected , the aggregate unpaid principal balance exceeded the aggregate fair value by $ 125 million and $ 671 million as of december 31 , 2009 and 2008 , respectively . the change in fair value for these structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income . related interest expense is measured based on the contractual interest rates and reported as such in the consolidated income statement . certain non-structured liabilities the company has elected the fair value option for certain non-structured liabilities with fixed and floating interest rates ( 201cnon-structured liabilities 201d ) . the company has elected the fair value option where the interest-rate risk of such liabilities is economically hedged with derivative contracts or the proceeds are used to purchase financial assets that will also be accounted for at fair value through earnings . the election has been made to mitigate accounting mismatches and to achieve operational simplifications . these positions are reported in short-term borrowings and long-term debt on the company 2019s consolidated balance sheet . for those non-structured liabilities classified as short-term borrowings for which the fair value option has been elected , the aggregate unpaid principal balance exceeded the aggregate fair value of such instruments by $ 220 million as of december 31 , 2008 . for non-structured liabilities classified as long-term debt for which the fair value option has been elected , the aggregate unpaid principal balance exceeded the aggregate fair value by $ 1542 million and $ 856 million as of december 31 , 2009 and 2008 , respectively . the change in fair value for these non-structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income . related interest expense continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement . accounting is complex and to achieve operational simplifications . the fair value option was not elected for loans held-for-investment , as those loans are not hedged with derivative instruments . the following table provides information about certain mortgage loans carried at fair value: .
Question: what was the change in carrying amount reported on the consolidated balance sheet in millions from 2008 to 2009?
Answer: | -935.0 | what was the change in carrying amount reported on the consolidated balance sheet in millions from 2008 to 2009? |
finqa1293 | Please answer the given financial question based on the context.
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 2013 . we elected to use the step 1 quantitative assessment for our three reporting units 2014digital media , digital marketing and print and publishing 2014and 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 2013 , 2012 or 2011 . 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 ) .
||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|
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. .
Question: what is the average weighted average useful life ( years ) for trademarks and acquired rights to use technology?
Answer: | 8.0 | what is the average weighted average useful life ( years ) for trademarks and acquired rights to use technology? |
finqa1294 | Please answer the given financial question based on the context.
Context: table of contents the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for the three years ended september 25 , 2010 , 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 25 , 2010 and september 26 , 2009 , the total amount of gross interest and penalties accrued was $ 247 million and $ 291 million , respectively , which is classified as non-current liabilities in the consolidated balance sheets . in 2010 and 2009 , the company recognized an interest benefit of $ 43 million and interest expense of $ 64 million , respectively , in connection with tax matters . 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 . during the third quarter of 2010 , the company reached a tax settlement with the irs for the years 2002 through 2003 . in connection with the settlement , the company reduced its gross unrecognized tax benefits by $ 100 million and recognized a $ 52 million tax benefit in the third quarter of 2010 . 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 7 2013 shareholders 2019 equity and stock-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 of shareholders 2019 equity but are excluded from net income . the company 2019s other comprehensive income consists .
||2010|2009|2008|
|beginning balance|$ 971|506|$ 475|
|increases related to tax positions taken during a prior year|61|341|27|
|decreases related to tax positions taken during a prior year|-224 ( 224 )|-24 ( 24 )|-70 ( 70 )|
|increases related to tax positions taken during the current year|240|151|85|
|decreases related to settlements with taxing authorities|-102 ( 102 )|0|0|
|decreases related to expiration of statute of limitations|-3 ( 3 )|-3 ( 3 )|-11 ( 11 )|
|ending balance|$ 943|$ 971|$ 506|
.
Question: what was the average ending balance of oci in millions?
Answer: | 806.66667 | what was the average ending balance of oci in millions? |
finqa1295 | Please answer the given financial question based on the context.
Context: notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) sales of businesses and investments 2013 primarily includes realized gains and losses relating to the sales of businesses , cumulative translation adjustment balances from the liquidation of entities and sales of marketable securities and investments in publicly traded and privately held companies in our rabbi trusts . during 2009 , we realized a gain of $ 15.2 related to the sale of an investment in our rabbi trusts , which was partially offset by losses realized from the sale of various businesses . losses in 2007 primarily related to the sale of several businesses within draftfcb for a loss of $ 9.3 and charges at lowe of $ 7.8 as a result of the realization of cumulative translation adjustment balances from the liquidation of several businesses . vendor discounts and credit adjustments 2013 we are in the process of settling our liabilities related to vendor discounts and credits established during the restatement we presented in our 2004 annual report on form 10-k . these adjustments reflect the reversal of certain of these liabilities as a result of settlements with clients or vendors or where the statute of limitations has lapsed . litigation settlement 2013 during may 2008 , the sec concluded its investigation that began in 2002 into our financial reporting practices , resulting in a settlement charge of $ 12.0 . investment impairments 2013 in 2007 we realized an other-than-temporary charge of $ 5.8 relating to a $ 12.5 investment in auction rate securities , representing our total investment in auction rate securities . see note 12 for further information . note 5 : intangible assets goodwill goodwill is the excess purchase price remaining from an acquisition after an allocation of purchase price has been made to identifiable assets acquired and liabilities assumed based on estimated fair values . the changes in the carrying value of goodwill for our segments , integrated agency networks ( 201cian 201d ) and constituency management group ( 201ccmg 201d ) , for the years ended december 31 , 2009 and 2008 are listed below. .
||ian|cmg|total 1|
|balance as of december 31 2007|$ 2789.7|$ 441.9|$ 3231.6|
|current year acquisitions|99.5|1.8|101.3|
|contingent and deferred payments for prior acquisitions|28.9|1.1|30.0|
|other ( primarily foreign currency translation )|-128.1 ( 128.1 )|-13.9 ( 13.9 )|-142.0 ( 142.0 )|
|balance as of december 31 2008|$ 2790.0|$ 430.9|$ 3220.9|
|current year acquisitions2|5.2|2014|5.2|
|contingent and deferred payments for prior acquisitions|14.2|2014|14.2|
|other ( primarily foreign currency translation )|76.2|4.5|80.7|
|balance as of december 31 2009|$ 2885.6|$ 435.4|$ 3321.0|
1 for all periods presented we have not recorded a goodwill impairment charge . 2 for acquisitions completed after january 1 , 2009 , amount includes contingent and deferred payments , which are recorded at fair value on the acquisition date . see note 6 for further information . see note 1 for further information regarding our annual impairment methodology . other intangible assets included in other intangible assets are assets with indefinite lives not subject to amortization and assets with definite lives subject to amortization . other intangible assets primarily include customer lists and trade names . intangible assets with definitive lives subject to amortization are amortized on a straight-line basis with estimated useful lives generally between 7 and 15 years . amortization expense for other intangible assets for the years ended december 31 , 2009 , 2008 and 2007 was $ 19.3 , $ 14.4 and $ 8.5 , respectively . the following table provides a summary of other intangible assets , which are included in other assets on our consolidated balance sheets. .
Question: what was the percentage decrease from 2007 for 2009 for the cmg balance?
Answer: | 1.47092 | what was the percentage decrease from 2007 for 2009 for the cmg balance? |
finqa1296 | Please answer the given financial question based on the context.
Context: we maintain an effective universal shelf registration that allows for the public offering and sale of debt securities , capital securities , common stock , depositary shares and preferred stock , and warrants to purchase such securities , including any shares into which the preferred stock and depositary shares may be convertible , or any combination thereof . we have , as discussed previously , issued in the past , and we may issue in the future , securities pursuant to the shelf registration . the issuance of debt or equity securities will depend on future market conditions , funding needs and other factors . additional information about debt and equity securities issued pursuant to this shelf registration is provided in notes 9 and 12 to the consolidated financial statements included under item 8 . we currently maintain a corporate commercial paper program , under which we can issue up to $ 3 billion with original maturities of up to 270 days from the date of issue . at december 31 , 2011 , we had $ 2.38 billion of commercial paper outstanding , compared to $ 2.80 billion at december 31 , 2010 . additional information about our corporate commercial paper program is provided in note 8 to the consolidated financial statements included under item 8 . state street bank had initial board authority to issue bank notes up to an aggregate of $ 5 billion , including up to $ 1 billion of subordinated bank notes . approximately $ 2.05 billion was available under this board authority as of december 31 , 2011 . in 2011 , $ 2.45 billion of senior notes , which were outstanding at december 31 , 2010 , matured . state street bank currently maintains a line of credit with a financial institution of cad $ 800 million , or approximately $ 787 million as of december 31 , 2011 , to support its canadian securities processing operations . the line of credit has no stated termination date and is cancelable by either party with prior notice . as of december 31 , 2011 , no balance was outstanding on this line of credit . contractual cash obligations .
|as of december 31 2011 ( in millions )|payments due by period total|payments due by period less than 1 year|payments due by period 1-3 years|payments due by period 4-5 years|payments due by period over 5 years|
|long-term debt ( 1 )|$ 9276|$ 1973|$ 1169|$ 1944|$ 4190|
|operating leases|1129|237|389|228|275|
|capital lease obligations|989|68|136|138|647|
|total contractual cash obligations|$ 11394|$ 2278|$ 1694|$ 2310|$ 5112|
( 1 ) long-term debt excludes capital lease obligations ( presented as a separate line item ) and the effect of interest-rate swaps . interest payments were calculated at the stated rate with the exception of floating-rate debt , for which payments were calculated using the indexed rate in effect as of december 31 , 2011 . the obligations presented in the table above are recorded in our consolidated statement of condition at december 31 , 2011 , except for interest on long-term debt and capital lease obligations . the table does not include obligations which will be settled in cash , primarily in less than one year , such as deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings . additional information about deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings is provided in notes 7 and 8 to the consolidated financial statements included under item 8 . the table does not include obligations related to derivative instruments , because the amounts included in our consolidated statement of condition at december 31 , 2011 related to derivatives do not represent the amounts that may ultimately be paid under the contracts upon settlement . additional information about derivative contracts is provided in note 16 to the consolidated financial statements included under item 8 . we have obligations under pension and other post-retirement benefit plans , more fully described in note 18 to the consolidated financial statements included under item 8 , which are not included in the above table . additional information about contractual cash obligations related to long-term debt and operating and capital leases is provided in notes 9 and 19 to the consolidated financial statements included under item 8 . the consolidated statement of cash flows , also included under item 8 , provides additional liquidity information. .
Question: in 2011 what was the percent of the total contractual obligations for long-term debt that was due in less than 1 year
Answer: | 0.2127 | in 2011 what was the percent of the total contractual obligations for long-term debt that was due in less than 1 year |
finqa1297 | Please answer the given financial question based on the context.
Context: our refining and wholesale marketing gross margin is the difference between the prices of refined products sold and the costs of crude oil and other charge and blendstocks refined , including the costs to transport these inputs to our refineries , the costs of purchased products and manufacturing expenses , including depreciation . the crack spread is a measure of the difference between market prices for refined products and crude oil , commonly used by the industry as an indicator of the impact of price on the refining margin . crack spreads can fluctuate significantly , particularly when prices of refined products do not move in the same relationship as the cost of crude oil . as a performance benchmark and a comparison with other industry participants , we calculate midwest ( chicago ) and u.s . gulf coast crack spreads that we feel most closely track our operations and slate of products . posted light louisiana sweet ( 201clls 201d ) prices and a 6-3-2-1 ratio of products ( 6 barrels of crude oil producing 3 barrels of gasoline , 2 barrels of distillate and 1 barrel of residual fuel ) are used for the crack spread calculation . the following table lists calculated average crack spreads by quarter for the midwest ( chicago ) and gulf coast markets in 2008 . crack spreads ( dollars per barrel ) 1st qtr 2nd qtr 3rd qtr 4th qtr 2008 .
|crack spreads ( dollars per barrel )|1st qtr|2nd qtr|3rd qtr|4th qtr|2008|
|chicago lls 6-3-2-1|$ 0.07|$ 2.71|$ 7.81|$ 2.31|$ 3.27|
|us gulf coast lls 6-3-2-1|$ 1.39|$ 1.99|$ 6.32|( $ 0.01 )|$ 2.45|
in addition to the market changes indicated by the crack spreads , our refining and wholesale marketing gross margin is impacted by factors such as the types of crude oil and other charge and blendstocks processed , the selling prices realized for refined products , the impact of commodity derivative instruments used to mitigate price risk and the cost of purchased products for resale . we process significant amounts of sour crude oil which can enhance our profitability compared to certain of our competitors , as sour crude oil typically can be purchased at a discount to sweet crude oil . finally , our refining and wholesale marketing gross margin is impacted by changes in manufacturing costs , which are primarily driven by the level of maintenance activities at the refineries and the price of purchased natural gas used for plant fuel . our 2008 refining and wholesale marketing gross margin was the key driver of the 43 percent decrease in rm&t segment income when compared to 2007 . our average refining and wholesale marketing gross margin per gallon decreased 37 percent , to 11.66 cents in 2008 from 18.48 cents in 2007 , primarily due to the significant and rapid increases in crude oil prices early in 2008 and lagging wholesale price realizations . our retail marketing gross margin for gasoline and distillates , which is the difference between the ultimate price paid by consumers and the cost of refined products , including secondary transportation and consumer excise taxes , also impacts rm&t segment profitability . while on average demand has been increasing for several years , there are numerous factors including local competition , seasonal demand fluctuations , the available wholesale supply , the level of economic activity in our marketing areas and weather conditions that impact gasoline and distillate demand throughout the year . in 2008 , demand began to drop due to the combination of significant increases in retail petroleum prices and a broad slowdown in general activity . the gross margin on merchandise sold at retail outlets has historically been more constant . the profitability of our pipeline transportation operations is primarily dependent on the volumes shipped through our crude oil and refined products pipelines . the volume of crude oil that we transport is directly affected by the supply of , and refiner demand for , crude oil in the markets served directly by our crude oil pipelines . key factors in this supply and demand balance are the production levels of crude oil by producers , the availability and cost of alternative modes of transportation , and refinery and transportation system maintenance levels . the volume of refined products that we transport is directly affected by the production levels of , and user demand for , refined products in the markets served by our refined product pipelines . in most of our markets , demand for gasoline peaks during the summer and declines during the fall and winter months , whereas distillate demand is more ratable throughout the year . as with crude oil , other transportation alternatives and system maintenance levels influence refined product movements . integrated gas our integrated gas strategy is to link stranded natural gas resources with areas where a supply gap is emerging due to declining production and growing demand . our integrated gas operations include marketing and transportation of products manufactured from natural gas , such as lng and methanol , primarily in the u.s. , europe and west africa . our most significant lng investment is our 60 percent ownership in a production facility in equatorial guinea , which sells lng under a long-term contract at prices tied to henry hub natural gas prices . in 2008 , its .
Question: what was the difference between the total 2008 crack spreads of chicago and the u.s gulf coast?
Answer: | 0.82 | what was the difference between the total 2008 crack spreads of chicago and the u.s gulf coast? |
finqa1298 | Please answer the given financial question based on the context.
Context: 3 . dividends from subsidiaries and affiliates cash dividends received from consolidated subsidiaries and from affiliates accounted for by the equity method were as follows ( in millions ) : .
||2003|2002|2001|
|subsidiaries|$ 807|$ 771|$ 1038|
|affiliates|43|44|21|
4 . guarantees and letters of credit guarantees 2014in connection with certain of its project financing , acquisition , and power purchase agreements , the company has expressly undertaken limited obligations and commitments , most of which will only be effective or will be terminated upon the occurrence of future events . these obligations and commitments , excluding those collateralized by letter of credit and other obligations discussed below , were limited as of december 31 , 2003 , by the terms of the agreements , to an aggregate of approximately $ 515 million representing 55 agreements with individual exposures ranging from less than $ 1 million up to $ 100 million . of this amount , $ 147 million represents credit enhancements for non-recourse debt , and $ 38 million commitments to fund its equity in projects currently under development or in construction . letters of credit 2014at december 31 , 2003 , the company had $ 89 million in letters of credit outstanding representing 9 agreements with individual exposures ranging from less than $ 1 million up to $ 36 million , which operate to guarantee performance relating to certain project development and construction activities and subsidiary operations . the company pays a letter of credit fee ranging from 0.5% ( 0.5 % ) to 5.00% ( 5.00 % ) per annum on the outstanding amounts . in addition , the company had $ 4 million in surety bonds outstanding at december 31 , 2003. .
Question: what was the average dividend or cash dividends received from consolidated subsidiaries and from affiliates accounted for by the equity method in millions in 2002?
Answer: | 17.52273 | what was the average dividend or cash dividends received from consolidated subsidiaries and from affiliates accounted for by the equity method in millions in 2002? |
finqa1299 | Please answer the given financial question based on the context.
Context: 2322 t . r o w e p r i c e g r o u p a n n u a l r e p o r t 2 0 1 1 c o n t r a c t u a l o b l i g at i o n s the following table presents a summary of our future obligations ( in a0millions ) under the terms of existing operating leases and other contractual cash purchase commitments at december 31 , 2011 . other purchase commitments include contractual amounts that will be due for the purchase of goods or services to be used in our operations and may be cancelable at earlier times than those indicated , under certain conditions that may involve termination fees . because these obligations are generally of a normal recurring nature , we expect that we will fund them from future cash flows from operations . the information presented does not include operating expenses or capital expenditures that will be committed in the normal course of operations in 2012 and future years . the information also excludes the $ 4.7 a0million of uncertain tax positions discussed in note 9 to our consolidated financial statements because it is not possible to estimate the time period in which a payment might be made to the tax authorities. .
||total|2012|2013-14|2015-16|later|
|noncancelable operating leases|$ 185|$ 31|$ 63|$ 57|$ 34|
|other purchase commitments|160|112|38|10|-|
|total|$ 345|$ 143|$ 101|$ 67|$ 34|
we also have outstanding commitments to fund additional contributions to investment partnerships in which we have an existing investment totaling $ 42.5 a0million at december 31 , 2011 . c r i t i c a l a c c o u n t i n g p o l i c i e s the preparation of financial statements often requires the selection of specific accounting methods and policies from among several acceptable alternatives . further , significant estimates and judgments may be required in selecting and applying those methods and policies in the recognition of the assets and liabilities in our balance sheet , the revenues and expenses in our statement of income , and the information that is contained in our significant accounting policies and notes to consolidated financial statements . making these estimates and judgments requires the analysis of information concerning events that may not yet be complete and of facts and circumstances that may change over time . accordingly , actual amounts or future results can differ materially from those estimates that we include currently in our consolidated financial statements , significant accounting policies , and notes . we present those significant accounting policies used in the preparation of our consolidated financial statements as an integral part of those statements within this 2011 annual report . in the following discussion , we highlight and explain further certain of those policies that are most critical to the preparation and understanding of our financial statements . other than temporary impairments of available-for-sale securities . we generally classify our investment holdings in sponsored mutual funds and the debt securities held for investment by our savings bank subsidiary as available-for-sale . at the end of each quarter , we mark the carrying amount of each investment holding to fair value and recognize an unrealized gain or loss as a component of comprehensive income within the statement of stockholders 2019 equity . we next review each individual security position that has an unrealized loss or impairment to determine if that impairment is other than temporary . in determining whether a mutual fund holding is other than temporarily impaired , we consider many factors , including the duration of time it has existed , the severity of the impairment , any subsequent changes in value , and our intent and ability to hold the security for a period of time sufficient for an anticipated recovery in fair value . subject to the other considerations noted above , with respect to duration of time , we believe a mutual fund holding with an unrealized loss that has persisted daily throughout the six months between quarter-ends is generally presumed to have an other than temporary impairment . we may also recognize an other than temporary loss of less than six months in our statement of income if the particular circumstances of the underlying investment do not warrant our belief that a near-term recovery is possible . an impaired debt security held by our savings bank subsidiary is considered to have an other than temporary loss that we will recognize in our statement of income if the impairment is caused by a change in credit quality that affects our ability to recover our amortized cost or if we intend to sell the security or believe that it is more likely than not that we will be required to sell the security before recovering cost . minor impairments of 5% ( 5 % ) or less are generally considered temporary . other than temporary impairments of equity method investments . we evaluate our equity method investments , including our investment in uti , for impairment when events or changes in circumstances indicate that the carrying value of the investment exceeds its fair value , and the decline in fair value is other than temporary . goodwill . we internally conduct , manage and report our operations as one investment advisory business . we do not have distinct operating segments or components that separately constitute a business . accordingly , we attribute goodwill to a single reportable business segment and reporting unit 2014our investment advisory business . we evaluate the carrying amount of goodwill in our balance sheet for possible impairment on an annual basis in the third quarter of each year using a fair value approach . goodwill would be considered impaired whenever our historical carrying amount exceeds the fair value of our investment advisory business . our annual testing has demonstrated that the fair value of our investment advisory business ( our market capitalization ) exceeds our carrying amount ( our stockholders 2019 equity ) and , therefore , no impairment exists . should we reach a different conclusion in the future , additional work would be performed to ascertain the amount of the non-cash impairment charge to be recognized . we must also perform impairment testing at other times if an event or circumstance occurs indicating that it is more likely than not that an impairment has been incurred . the maximum future impairment of goodwill that we could incur is the amount recognized in our balance sheet , $ 665.7 a0million . stock options . we recognize stock option-based compensation expense in our consolidated statement of income using a fair value based method . fair value methods use a valuation model for shorter-term , market-traded financial instruments to theoretically value stock option grants even though they are not available for trading and are of longer duration . the black- scholes option-pricing model that we use includes the input of certain variables that are dependent on future expectations , including the expected lives of our options from grant date to exercise date , the volatility of our underlying common shares in the market over that time period , and the rate of dividends that we will pay during that time . our estimates of these variables are made for the purpose of using the valuation model to determine an expense for each reporting period and are not subsequently adjusted . unlike most of our expenses , the resulting charge to earnings using a fair value based method is a non-cash charge that is never measured by , or adjusted based on , a cash outflow . provision for income taxes . after compensation and related costs , our provision for income taxes on our earnings is our largest annual expense . we operate in numerous states and countries through our various subsidiaries , and must allocate our income , expenses , and earnings under the various laws and regulations of each of these taxing jurisdictions . accordingly , our provision for income taxes represents our total estimate of the liability that we have incurred in doing business each year in all of our locations . annually , we file tax returns that represent our filing positions with each jurisdiction and settle our return liabilities . each jurisdiction has the right to audit those returns and may take different positions with respect to income and expense allocations and taxable earnings determinations . from time to time , we may also provide for estimated liabilities associated with uncertain tax return filing positions that are subject to , or in the process of , being audited by various tax authorities . because the determination of our annual provision is subject to judgments and estimates , it is likely that actual results will vary from those recognized in our financial statements . as a result , we recognize additions to , or reductions of , income tax expense during a reporting period that pertain to prior period provisions as our estimated liabilities are revised and actual tax returns and tax audits are settled . we recognize any such prior period adjustment in the discrete quarterly period in which it is determined . n e w ly i s s u e d b u t n o t y e t a d o p t e d a c c o u n t i n g g u i d a n c e in may 2011 , the fasb issued amended guidance clarifying how to measure and disclose fair value . we do not believe the adoption of such amended guidance on january 1 , 2012 , will have a significant effect on our consolidated financial statements . we have also considered all other newly issued accounting guidance that is applicable to our operations and the preparation of our consolidated statements , including that which we have not yet adopted . we do not believe that any such guidance will have a material effect on our financial position or results of operation. .
Question: what percentage of total other purchase commitments is made up of other purchase commitments?
Answer: | 0.46377 | what percentage of total other purchase commitments is made up of other purchase commitments? |