instructions
stringlengths 9
489
⌀ | user
stringlengths 1
8.98k
⌀ | assistant
stringlengths 1
17k
⌀ |
|---|---|---|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the following performance graph shows the cumulative total return to a holder of the company 2019s common stock, assuming dividend reinvestment, compared with the cumulative total return, assuming dividend reinvestment, of the standard & poor ("s&p") 500 index and the dow jones us financials index during the period from december 31, 2009 through december 31, 2014..
- | 12/09 | 12/10 | 12/11 | 12/12 | 12/13 | 12/14
e*trade financial corporation | 100.00 | 90.91 | 45.23 | 50.85 | 111.59 | 137.81
s&p 500 index | 100.00 | 115.06 | 117.49 | 136.30 | 180.44 | 205.14
dow jones us financials index | 100.00 | 112.72 | 98.24 | 124.62 | 167.26 | 191.67
table of contents.
what is the price of e*trade financial corporation in 2014 less an initial 100? 37.81
what is that divided by 100? 0.3781
what is the price of the s&p 500 index in 2014 less and initial 100?
|
105.14
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
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 89% (89%) and 91% (91%) as of december 31, 2015 and 2014, 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
2015 | $-33.7 (33.7) | $34.7
2014 | -35.5 (35.5) | 36.6
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates. we do not have any interest rate swaps outstanding as of december 31, 2015. we had $1509.7 of cash, cash equivalents and marketable securities as of december 31, 2015 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 2015 and 2014, we had interest income of $22.8 and $27.4, respectively. based on our 2015 results, a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $15.0, assuming that all cash, cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2015 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 primary foreign currencies that impacted our results during 2015 included the australian dollar, brazilian real, british pound sterling and euro. based on 2015 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 2015 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 derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures. we do not enter into foreign exchange contracts or other derivatives for speculative purposes..
what was the change in the interest income from 2014 to 2015? 4.6
and how much does this change represent in relation to that interest income in 2014? 0.16788
how much is that in percentage?
|
16.78832
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
mandatorily redeemable securities of subsidiary trusts total mandatorily redeemable securities of subsidiary trusts (trust preferred securities), which qualify as tier 1 capital, were $23.899 billion at december 31, 2008, as compared to $23.594 billion at december 31, 2007. in 2008, citigroup did not issue any new enhanced trust preferred securities. the frb issued a final rule, with an effective date of april 11, 2005, which retains trust preferred securities in tier 1 capital of bank holding companies, but with stricter quantitative limits and clearer qualitative standards. under the rule, after a five-year transition period, the aggregate amount of trust preferred securities and certain other restricted core capital elements included in tier 1 capital of internationally active banking organizations, such as citigroup, would be limited to 15% (15%) of total core capital elements, net of goodwill, less any associated deferred tax liability. the amount of trust preferred securities and certain other elements in excess of the limit could be included in tier 2 capital, subject to restrictions. at december 31, 2008, citigroup had approximately 11.8% (11.8%) against the limit. the company expects to be within restricted core capital limits prior to the implementation date of march 31, 2009. the frb permits additional securities, such as the equity units sold to adia, to be included in tier 1 capital up to 25% (25%) (including the restricted core capital elements in the 15% (15%) limit) of total core capital elements, net of goodwill less any associated deferred tax liability. at december 31, 2008, citigroup had approximately 16.1% (16.1%) against the limit. the frb granted interim capital relief for the impact of adopting sfas 158 at december 31, 2008 and december 31, 2007. the frb and the ffiec may propose amendments to, and issue interpretations of, risk-based capital guidelines and reporting instructions. these may affect reported capital ratios and net risk-weighted assets. capital resources of citigroup 2019s depository institutions citigroup 2019s subsidiary depository institutions in the united states are subject to risk-based capital guidelines issued by their respective primary federal bank regulatory agencies, which are similar to the frb 2019s guidelines. to be 201cwell capitalized 201d under federal bank regulatory agency definitions, citigroup 2019s depository institutions must have a tier 1 capital ratio of at least 6% (6%), a total capital (tier 1 + tier 2 capital) ratio of at least 10% (10%) and a leverage ratio of at least 5% (5%), and not be subject to a regulatory directive to meet and maintain higher capital levels. at december 31, 2008, all of citigroup 2019s subsidiary depository institutions were 201cwell capitalized 201d under the federal regulatory agencies 2019 definitions, including citigroup 2019s primary depository institution, citibank, n.a., as noted in the following table: citibank, n.a. components of capital and ratios under regulatory guidelines in billions of dollars at year end 2008 2007.
in billions of dollars at year end | 2008 | 2007
tier 1 capital | $71.0 | $82.0
total capital (tier 1 and tier 2) | 108.4 | 121.6
tier 1 capital ratio | 9.94% (9.94%) | 8.98% (8.98%)
total capital ratio (tier 1 and tier 2) | 15.18 | 13.33
leverage ratio (1) | 5.82 | 6.65
leverage ratio (1) 5.82 6.65 (1) tier 1 capital divided by adjusted average assets. citibank, n.a. had a net loss for 2008 amounting to $6.2 billion. during 2008, citibank, n.a. received contributions from its parent company of $6.1 billion. citibank, n.a. did not issue any additional subordinated notes in 2008. total subordinated notes issued to citicorp holdings inc. that were outstanding at december 31, 2008 and december 31, 2007 and included in citibank, n.a. 2019s tier 2 capital, amounted to $28.2 billion. citibank, n.a. received an additional $14.3 billion in capital contribution from its parent company in january 2009. the impact of this contribution is not reflected in the table above. the substantial events in 2008 impacting the capital of citigroup, and the potential future events discussed on page 94 under 201ccitigroup regulatory capital ratios, 201d also affected, or could affect, citibank, n.a..
what is the total capital in 2008 less tier 1 capital? 37.4
what is total capital from 2007? 121.6
what is tier 1 capital in 2007?
|
82.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
management 2019s discussion and analysis of financial condition and results of operations 2013 (continued) (amounts in millions, except per share amounts) liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity, capital resources and uses of capital..
cash flow data | years ended december 31, 2015 | years ended december 31, 2014 | years ended december 31, 2013
net income adjusted to reconcile net income to net cashprovided by operating activities1 | $848.2 | $831.2 | $598.4
net cash used in working capital2 | -117.5 (117.5) | -131.1 (131.1) | -9.6 (9.6)
changes in other non-current assets and liabilities using cash | -56.7 (56.7) | -30.6 (30.6) | 4.1
net cash provided by operating activities | $674.0 | $669.5 | $592.9
net cash used in investing activities | -202.8 (202.8) | -200.8 (200.8) | -224.5 (224.5)
net cash used in financing activities | -472.8 (472.8) | -343.9 (343.9) | -1212.3 (1212.3)
1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets, amortization of restricted stock and other non-cash compensation, non-cash (gain) loss related to early extinguishment of debt, losses on sales of businesses and deferred income taxes. 2 reflects changes in accounts receivable, expenditures billable to clients, other current assets, accounts payable and accrued liabilities. operating activities net cash provided by operating activities during 2015 was $674.0, which was an improvement of $4.5 as compared to 2014, primarily as a result of an improvement in working capital usage of $13.6. due to the seasonality of our business, we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year, with the largest impacts in the first and fourth quarters. our net working capital usage in 2015 was primarily attributable to our media businesses. net cash provided by operating activities during 2014 was $669.5, which was an improvement of $76.6 as compared to 2013, primarily as a result of an increase in net income, offset by an increase in working capital usage of $121.5. our net working capital usage in 2014 was impacted by our media businesses. the timing of media buying on behalf of our clients affects our working capital and operating cash flow. in most of our businesses, our agencies enter into commitments to pay production and media costs on behalf of clients. to the extent possible, we pay production and media charges after we have received funds from our clients. the amounts involved substantially exceed our revenues and primarily affect the level of accounts receivable, expenditures billable to clients, accounts payable and accrued liabilities. our assets include both cash received and accounts receivable from clients for these pass-through arrangements, while our liabilities include amounts owed on behalf of clients to media and production suppliers. our accrued liabilities are also affected by the timing of certain other payments. for example, while annual cash incentive awards are accrued throughout the year, they are generally paid during the first quarter of the subsequent year. investing activities net cash used in investing activities during 2015 primarily related to payments for capital expenditures of $161.1, largely attributable to purchases of leasehold improvements and computer hardware. net cash used in investing activities during 2014 primarily related to payments for capital expenditures and acquisitions. capital expenditures of $148.7 related primarily to computer hardware and software and leasehold improvements. we made payments of $67.8 related to acquisitions completed during 2014, net of cash acquired..
what is the value of net income adjusted to reconcile net income to net cash provided by operating activities in 2015?
|
848.2
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the aes corporation notes to consolidated financial statements 2014 (continued) december 31, 2016, 2015, and 2014 the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated (in millions):.
december 31, | 2016 | 2015 | 2014
balance at january 1 | $373 | $394 | $392
additions for current year tax positions | 8 | 7 | 7
additions for tax positions of prior years | 1 | 12 | 14
reductions for tax positions of prior years | -1 (1) | -7 (7) | -2 (2)
effects of foreign currency translation | 2 | -7 (7) | -3 (3)
settlements | -13 (13) | -19 (19) | -2 (2)
lapse of statute of limitations | -1 (1) | -7 (7) | -12 (12)
balance at december 31 | $369 | $373 | $394
the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years. the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded. while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position, we believe we have appropriately accrued for our uncertain tax benefits. however, audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty. it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material, but cannot be estimated as of december 31, 2016. our effective tax rate and net income in any given future period could therefore be materially impacted. 22. discontinued operations brazil distribution 2014 due to a portfolio evaluation in the first half of 2016, management has decided to pursue a strategic shift of its distribution companies in brazil, aes sul and eletropaulo. the disposal of sul was completed in october 2016. in december 2016, eletropaulo underwent a corporate restructuring which is expected to, among other things, provide more liquidity of its shares. aes is continuing to pursue strategic options for eletropaulo in order to complete its strategic shift to reduce aes 2019 exposure to the brazilian distribution business, including preparation for listing its shares into the novo mercado, which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance. the company executed an agreement for the sale of its wholly-owned subsidiary aes sul in june 2016. we have reported the results of operations and financial position of aes sul as discontinued operations in the consolidated financial statements for all periods presented. upon meeting the held-for-sale criteria, the company recognized an after tax loss of $382 million comprised of a pretax impairment charge of $783 million, offset by a tax benefit of $266 million related to the impairment of the sul long lived assets and a tax benefit of $135 million for deferred taxes related to the investment in aes sul. prior to the impairment charge in the second quarter, the carrying value of the aes sul asset group of $1.6 billion was greater than its approximate fair value less costs to sell. however, the impairment charge was limited to the carrying value of the long lived assets of the aes sul disposal group. on october 31, 2016, the company completed the sale of aes sul and received final proceeds less costs to sell of $484 million, excluding contingent consideration. upon disposal of aes sul, we incurred an additional after- tax loss on sale of $737 million. the cumulative impact to earnings of the impairment and loss on sale was $1.1 billion. this includes the reclassification of approximately $1 billion of cumulative translation losses, resulting in a net reduction to the company 2019s stockholders 2019 equity of $92 million. sul 2019s pretax loss attributable to aes for the years ended december 31, 2016 and 2015 was $1.4 billion and $32 million, respectively. sul 2019s pretax gain attributable to aes for the year ended december 31, 2014 was $133 million. prior to its classification as discontinued operations, sul was reported in the brazil sbu reportable segment. as discussed in note 1 2014general and summary of significant accounting policies, effective july 1, 2014, the company prospectively adopted asu no. 2014-08. discontinued operations prior to adoption of asu no. 2014-08 include the results of cameroon, saurashtra and various u.s. wind projects which were each sold in the first half of cameroon 2014 in september 2013, the company executed agreements for the sale of its 56% (56%) equity interests in businesses in cameroon: sonel, an integrated utility, kribi, a gas and light fuel oil plant, and dibamba, a heavy.
what was the total of unrecognized tax benefits in 2015? 373.0
and what was it in 2014? 394.0
by how much, then, did it change over the year? -21.0
and how much did this change represent in relation to the 2014 total, in percentage? -0.0533
and throughout the subsequent year of this period, what was that change in this total?
|
-4.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
aon has certain contractual contingent guarantees for premium payments owed by clients to certain insurance companies. the maximum exposure with respect to such contractual contingent guarantees was approximately $48 million at december 31, 2011. aon has provided commitments to fund certain limited partnerships in which it has an interest in the event that the general partners request funding. some of these commitments have specific expiration dates and the maximum potential funding under these commitments was $64 million at december 31, 2011. during 2011, the company funded $15 million of these commitments. aon expects that as prudent business interests dictate, additional guarantees and indemnifications may be issued from time to time. 17. related party transactions during 2011, the company, in the ordinary course of business, provided retail brokerage, consulting and financial advisory services to, and received wholesale brokerage services from, an entity that is controlled by one of the company 2019s stockholders. these transactions were negotiated at an arms-length basis and contain customary terms and conditions. during 2011, commissions and fee revenue from these transactions was approximately $9 million. 18. segment information the company has two reportable operating segments: risk solutions and hr solutions. unallocated income and expenses, when combined with the operating segments and after the elimination of intersegment revenues and expenses, total to the amounts in the consolidated financial statements. reportable operating segments have been determined using a management approach, which is consistent with the basis and manner in which aon 2019s chief operating decision maker (2018 2018codm 2019 2019) uses financial information for the purposes of allocating resources and assessing performance. the codm assesses performance based on operating segment operating income and generally accounts for intersegment revenue as if the revenue were from third parties and at what management believes are current market prices. the company does not present net assets by segment as this information is not reviewed by the codm. risk solutions acts as an advisor and insurance and reinsurance broker, helping clients manage their risks, via consultation, as well as negotiation and placement of insurance risk with insurance carriers through aon 2019s global distribution network. hr solutions partners with organizations to solve their most complex benefits, talent and related financial challenges, and improve business performance by designing, implementing, communicating and administering a wide range of human capital, retirement, investment management, health care, compensation and talent management strategies. aon 2019s total revenue is as follows (in millions):.
years ended december 31 | 2011 | 2010 | 2009
risk solutions | $6817 | $6423 | $6305
hr solutions | 4501 | 2111 | 1267
intersegment elimination | -31 (31) | -22 (22) | -26 (26)
total operating segments | 11287 | 8512 | 7546
unallocated | 2014 | 2014 | 49
total revenue | $11287 | $8512 | $7595
.
what was the total revenue in 2011? 11287.0
and what was it in 2010?
|
8512.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
material impact on the service cost and interest cost components of net periodic benefit costs for a 1% (1%) change in the assumed health care trend rate. for most of the participants in the u.s. plan, aon 2019s liability for future plan cost increases for pre-65 and medical supplement plan coverage is limited to 5% (5%) per annum. because of this cap, net employer trend rates for these plans are effectively limited to 5% (5%) per year in the future. during 2007, aon recognized a plan amendment which phases out post-65 retiree coverage in its u.s. plan over the next three years. the impact of this amendment on net periodic benefit cost is being recognized over the average remaining service life of the employees. 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 | 2010 | 2009 | 2008
rsus | $138 | $124 | $132
performance plans | 62 | 60 | 67
stock options | 17 | 21 | 24
employee stock purchase plans | 4 | 4 | 3
total stock-based compensation expense | 221 | 209 | 226
tax benefit | 75 | 68 | 82
stock-based compensation expense net of tax | $146 | $141 | $144
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 value 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. dividend equivalents are paid on certain service-based rsus, based on the initial grant amount. 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 actual 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 2010, the company granted approximately 1.6 million shares in connection with the completion of the 2007 leadership performance plan (2018 2018lpp 2019 2019) cycle and 84000 shares related to other performance plans. during 2010, 2009 and 2008, the company granted approximately 3.5 million.
what was the difference in total stock-based compensation expense between 2009 and 2010? 12.0
and the specific value for 2009 again?
|
209.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock, which is listed on the nyse under the ticker symbol 201cc 201d and held by 65691 common stockholders of record as of january 31, 2018, with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31, 2017. the graph and table assume that $100 was invested on december 31, 2012 in citi 2019s common stock, the s&p 500 index and the s&p financial index, and that all dividends were reinvested. comparison of five-year cumulative total return for the years ended date citi s&p 500 financials.
date | citi | s&p 500 | s&p financials
31-dec-2012 | 100.0 | 100.0 | 100.0
31-dec-2013 | 131.8 | 132.4 | 135.6
31-dec-2014 | 137.0 | 150.5 | 156.2
31-dec-2015 | 131.4 | 152.6 | 153.9
31-dec-2016 | 152.3 | 170.8 | 188.9
31-dec-2017 | 193.5 | 208.1 | 230.9
.
what is the price of citi in 2017? 193.5
what is that less 100? 93.5
what is the value of the s&p 500 in 2017? 208.1
what is that less 100? 108.1
what is the ratio of the difference of citi to the s&p 500?
|
1.15615
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
notes to consolidated financial statements 2014 (continued) in connection with these discover related purchases, we have sold the contractual rights to future commissions on discover transactions to certain of our isos. contractual rights sold totaled $7.6 million during the year ended may 31, 2008 and $1.0 million during fiscal 2009. such sale proceeds are generally collected in installments over periods ranging from three to nine months. during fiscal 2009, we collected $4.4 million of such proceeds, which are included in the proceeds from sale of investment and contractual rights in our consolidated statement of cash flows. we do not recognize gains on these sales of contractual rights at the time of sale. proceeds are deferred and recognized as a reduction of the related commission expense. during fiscal 2009, we recognized $1.2 million of such deferred sales proceeds as other long-term liabilities. other 2008 acquisitions during fiscal 2008, we acquired a majority of the assets of euroenvios money transfer, s.a. and euroenvios conecta, s.l., which we collectively refer to as lfs spain. lfs spain consisted of two privately- held corporations engaged in money transmittal and ancillary services from spain to settlement locations primarily in latin america. the purpose of the acquisition was to further our strategy of expanding our customer base and market share by opening additional branch locations. during fiscal 2008, we acquired a series of money transfer branch locations in the united states. the purpose of these acquisitions was to increase the market presence of our dolex-branded money transfer offering. the following table summarizes the preliminary purchase price allocations of all these fiscal 2008 business acquisitions (in thousands):.
- | total
goodwill | $13536
customer-related intangible assets | 4091
contract-based intangible assets | 1031
property and equipment | 267
other current assets | 502
total assets acquired | 19427
current liabilities | -2347 (2347)
minority interest in equity of subsidiary (at historical cost) | -486 (486)
net assets acquired | $16594
the customer-related intangible assets have amortization periods of up to 14 years. the contract-based intangible assets have amortization periods of 3 to 10 years. these business acquisitions were not significant to our consolidated financial statements and accordingly, we have not provided pro forma information relating to these acquisitions. in addition, during fiscal 2008, we acquired a customer list and long-term merchant referral agreement in our canadian merchant services channel for $1.7 million. the value assigned to the customer list of $0.1 million was expensed immediately. the remaining value was assigned to the merchant referral agreement and is being amortized on a straight-line basis over its useful life of 10 years. fiscal 2007 on july 24, 2006, we completed the purchase of a fifty-six percent ownership interest in the asia-pacific merchant acquiring business of the hongkong and shanghai banking corporation limited, or hsbc asia pacific. this business provides card payment processing services to merchants in the asia-pacific region. the.
what is the sum of goodwill and customer related intangible assets?
|
17627.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the securities and exchange commission, nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934, each as amended, except to the extent that the company specifically incorporates it by reference into such filing. the following graph shows a five-year comparison of cumulative total shareowners 2019 returns for our class b common stock, the s&p 500 index, and the dow jones transportation average. the comparison of the total cumulative return on investment, which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods, assumes that $100 was invested on december 31, 2001 in the s&p 500 index, the dow jones transportation average, and the class b common stock of united parcel service, inc. comparison of five year cumulative total return $40.00 $60.00 $80.00 $100.00 $120.00 $140.00 $160.00 $180.00 $200.00 2001 2002 2003 2004 2005 2006 s&p 500 ups dj transport.
- | 12/31/01 | 12/31/02 | 12/31/03 | 12/31/04 | 12/31/05 | 12/31/06
united parcel service inc. | $100.00 | $117.19 | $140.49 | $163.54 | $146.35 | $148.92
s&p 500 index | $100.00 | $77.90 | $100.24 | $111.15 | $116.61 | $135.02
dow jones transportation average | $100.00 | $88.52 | $116.70 | $149.06 | $166.42 | $182.76
securities authorized for issuance under equity compensation plans the following table provides information as of december 31, 2006 regarding compensation plans under which our class a common stock is authorized for issuance. these plans do not authorize the issuance of our class b common stock..
what is the price of united parcel service stock in 2006 less 100?
|
48.92
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
software and will give the company a comprehensive design-to-silicon flow that links directly into the semiconductor manufacturing process. integrating hpl 2019s yield management and test chip technologies into the company 2019s industry-leading dfm portfolio is also expected to enable customers to increase their productivity and improve profitability in the design and manufacture of advanced semiconductor devices. purchase price. the company paid $11.0 million in cash for all outstanding shares of hpl. in addition, the company had a prior investment in hpl of approximately $1.9 million. the total purchase consideration consisted of:.
- | (in thousands)
cash paid | $11001
prior investment in hpl | 1872
acquisition-related costs | 2831
total purchase price | $15704
acquisition-related costs of $2.8 million consist primarily of legal, tax and accounting fees of $1.6 million, $0.3 million of estimated facilities closure costs and other directly related charges, and $0.9 million in employee termination costs. as of october 31, 2006, the company had paid $2.2 million of the acquisition related costs, of which $1.1 million were for professional services costs, $0.2 million were for facilities closure costs and $0.9 million were for employee termination costs. the $0.6 million balance remaining at october 31, 2006 consists of professional and tax-related service fees and facilities closure costs. assets acquired. the company acquired $8.5 million of intangible assets consisting of $5.1 million in core developed technology, $3.2 million in customer relationships and $0.2 million in backlog to be amortized over two to four years. approximately $0.8 million of the purchase price represents the fair value of acquired in-process research and development projects that have not yet reached technological feasibility and have no alternative future use. accordingly, the amount was immediately expensed and included in the company 2019s condensed consolidated statement of operations for the first quarter of fiscal year 2006. additionally, the company acquired tangible assets of $14.0 million and assumed liabilities of $10.9 million. goodwill, representing the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in the merger was $3.4 million. goodwill resulted primarily from the company 2019s expectation of synergies from the integration of hpl 2019s technology with the company 2019s technology and operations. other. during the fiscal year 2006, the company completed an asset acquisition for cash consideration of $1.5 million. this acquisition is not considered material to the company 2019s consolidated balance sheet and results of operations. fiscal 2005 acquisitions nassda corporation (nassda) the company acquired nassda on may 11, 2005. reasons for the acquisition. the company believes nassda 2019s full-chip circuit simulation and analysis software will broaden its offerings of transistor-level circuit simulation tools, particularly in the area of mixed-signal and memory design. purchase price. the company acquired all the outstanding shares of nassda for total cash consideration of $200.2 million, or $7.00 per share. in addition, as required by the merger agreement, certain nassda officers, directors and employees who were defendants in certain preexisting litigation.
what was the total of intangible assets, in millions? 8.5
what is that in thousands? 8500.0
and what percentage did this total represent in relation to the total purchase price?
|
0.54126
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
edwards lifesciences corporation notes to consolidated financial statements (continued) 13. common stock (continued) the company also maintains the nonemployee directors stock incentive compensation program (the 2018 2018nonemployee directors program 2019 2019). under the nonemployee directors program, upon a director 2019s initial election to the board, the director receives an initial grant of stock options or restricted stock units equal to a fair market value on grant date of $0.2 million, not to exceed 20000 shares. these grants vest over three years from the date of grant, subject to the director 2019s continued service. in addition, annually each nonemployee director may receive up to 40000 stock options or 16000 restricted stock units of the company 2019s common stock, or a combination thereof, provided that in no event may the total value of the combined annual award exceed $0.2 million. these grants generally vest over one year from the date of grant. under the nonemployee directors program, an aggregate of 2.8 million shares of the company 2019s common stock has been authorized for issuance. the company has an employee stock purchase plan for united states employees and a plan for international employees (collectively 2018 2018espp 2019 2019). under the espp, eligible employees may purchase shares of the company 2019s common stock at 85% (85%) of the lower of the fair market value of edwards lifesciences common stock on the effective date of subscription or the date of purchase. under the espp, employees can authorize the company to withhold up to 12% (12%) of their compensation for common stock purchases, subject to certain limitations. the espp is available to all active employees of the company paid from the united states payroll and to eligible employees of the company outside the united states, to the extent permitted by local law. the espp for united states employees is qualified under section 423 of the internal revenue code. the number of shares of common stock authorized for issuance under the espp was 13.8 million shares. the fair value of each option award and employee stock purchase subscription is estimated on the date of grant using the black-scholes option valuation model that uses the assumptions noted in the following tables. the risk-free interest rate is estimated using the u.s. treasury yield curve and is based on the expected term of the award. expected volatility is estimated based on a blend of the weighted-average of the historical volatility of edwards lifesciences 2019 stock and the implied volatility from traded options on edwards lifesciences 2019 stock. the expected term of awards granted is estimated from the vesting period of the award, as well as historical exercise behavior, and represents the period of time that awards granted are expected to be outstanding. the company uses historical data to estimate forfeitures and has estimated an annual forfeiture rate of 6.0% (6.0%). the black-scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods: option awards.
- | 2016 | 2015 | 2014
average risk-free interest rate | 1.1% (1.1%) | 1.4% (1.4%) | 1.5% (1.5%)
expected dividend yield | none | none | none
expected volatility | 33% (33%) | 30% (30%) | 31% (31%)
expected life (years) | 4.5 | 4.6 | 4.6
fair value per share | $31.00 | $18.13 | $11.75
.
what is the fair value per share in 2015? 18.13
what is it in 2014?
|
11.75
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
notes to consolidated financial statements 2014 (continued) in connection with these discover related purchases, we have sold the contractual rights to future commissions on discover transactions to certain of our isos. contractual rights sold totaled $7.6 million during the year ended may 31, 2008 and $1.0 million during fiscal 2009. such sale proceeds are generally collected in installments over periods ranging from three to nine months. during fiscal 2009, we collected $4.4 million of such proceeds, which are included in the proceeds from sale of investment and contractual rights in our consolidated statement of cash flows. we do not recognize gains on these sales of contractual rights at the time of sale. proceeds are deferred and recognized as a reduction of the related commission expense. during fiscal 2009, we recognized $1.2 million of such deferred sales proceeds as other long-term liabilities. other 2008 acquisitions during fiscal 2008, we acquired a majority of the assets of euroenvios money transfer, s.a. and euroenvios conecta, s.l., which we collectively refer to as lfs spain. lfs spain consisted of two privately- held corporations engaged in money transmittal and ancillary services from spain to settlement locations primarily in latin america. the purpose of the acquisition was to further our strategy of expanding our customer base and market share by opening additional branch locations. during fiscal 2008, we acquired a series of money transfer branch locations in the united states. the purpose of these acquisitions was to increase the market presence of our dolex-branded money transfer offering. the following table summarizes the preliminary purchase price allocations of all these fiscal 2008 business acquisitions (in thousands):.
- | total
goodwill | $13536
customer-related intangible assets | 4091
contract-based intangible assets | 1031
property and equipment | 267
other current assets | 502
total assets acquired | 19427
current liabilities | -2347 (2347)
minority interest in equity of subsidiary (at historical cost) | -486 (486)
net assets acquired | $16594
the customer-related intangible assets have amortization periods of up to 14 years. the contract-based intangible assets have amortization periods of 3 to 10 years. these business acquisitions were not significant to our consolidated financial statements and accordingly, we have not provided pro forma information relating to these acquisitions. in addition, during fiscal 2008, we acquired a customer list and long-term merchant referral agreement in our canadian merchant services channel for $1.7 million. the value assigned to the customer list of $0.1 million was expensed immediately. the remaining value was assigned to the merchant referral agreement and is being amortized on a straight-line basis over its useful life of 10 years. fiscal 2007 on july 24, 2006, we completed the purchase of a fifty-six percent ownership interest in the asia-pacific merchant acquiring business of the hongkong and shanghai banking corporation limited, or hsbc asia pacific. this business provides card payment processing services to merchants in the asia-pacific region. the.
what is the value of goodwill? 13536.0
what is the value of customer-related intangible assets? 4091.0
what is the sum? 17627.0
what is the sum including contract-based intangible assets?
|
18658.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
masco corporation notes to consolidated financial statements (continued) h. goodwill and other intangible assets (continued) goodwill at december 31, accumulated impairment losses goodwill at december 31, 2010 additions (a) discontinued operations (b) pre-tax impairment charge other (c) goodwill at december 31, cabinets and related products........... $587 $(364) $223 $2014 $2014 $(44) $2 $181.
- | gross goodwill at december 31 2010 | accumulated impairment losses | net goodwill at december 31 2010 | additions (a) | discontinued operations (b) | pre-tax impairment charge | other (c) | net goodwill at december 31 2011
cabinets and related products | $587 | $-364 (364) | $223 | $2014 | $2014 | $-44 (44) | $2 | $181
plumbing products | 536 | -340 (340) | 196 | 9 | 2014 | 2014 | -4 (4) | 201
installation and other services | 1819 | -762 (762) | 1057 | 2014 | -13 (13) | 2014 | 2014 | 1044
decorative architectural products | 294 | 2014 | 294 | 2014 | 2014 | -75 (75) | 2014 | 219
other specialty products | 980 | -367 (367) | 613 | 2014 | 2014 | -367 (367) | 2014 | 246
total | $4216 | $-1833 (1833) | $2383 | $9 | $-13 (13) | $-486 (486) | $-2 (2) | $1891
(a) additions include acquisitions. (b) during 2011, the company reclassified the goodwill related to the business units held for sale. subsequent to the reclassification, the company recognized a charge for those business units expected to be divested at a loss; the charge included a write-down of goodwill of $13 million. (c) other principally includes the effect of foreign currency translation and purchase price adjustments related to prior-year acquisitions. in the fourth quarters of 2012 and 2011, the company completed its annual impairment testing of goodwill and other indefinite-lived intangible assets. the impairment test in 2012 indicated there was no impairment of goodwill for any of the company 2019s reporting units. the impairment test in 2011 indicated that goodwill recorded for certain of the company 2019s reporting units was impaired. the company recognized the non-cash, pre-tax impairment charges, in continuing operations, for goodwill of $486 million ($330 million, after tax) for 2011. in 2011, the pre-tax impairment charge in the cabinets and related products segment relates to the european ready-to- assemble cabinet manufacturer and reflects the declining demand for certain products, as well as decreased operating margins. the pre-tax impairment charge in the decorative architectural products segment relates to the builders 2019 hardware business and reflects increasing competitive conditions for that business. the pre-tax impairment charge in the other specialty products segment relates to the north american window and door business and reflects the continuing weak level of new home construction activity in the western u.s., the reduced levels of repair and remodel activity and the expectation that recovery in these segments will be modestly slower than anticipated. the company then assessed the long-lived assets associated with these business units and determined no impairment was necessary at december 31, 2011. other indefinite-lived intangible assets were $132 million and $174 million at december 31, 2012 and 2011, respectively, and principally included registered trademarks. in 2012 and 2011, the impairment test indicated that the registered trademark for a north american business unit in the other specialty products segment and the registered trademark for a north american business unit in the plumbing products segment (2011 only) were impaired due to changes in the long-term outlook for the business units. the company recognized non-cash, pre-tax impairment charges for other indefinite- lived intangible assets of $42 million ($27 million, after tax) and $8 million ($5 million, after tax) in 2012 and 2011, respectively. in 2010, the company recognized non-cash, pre-tax impairment charges for other indefinite-lived intangible assets of $10 million ($6 million after tax) related to the installation and other services segment ($9 million pre-tax) and the plumbing products segment ($1 million pre-tax)..
what was the change in total net goodwill between 2010 and 2011?
|
-492.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
conditions and changes to regulatory capital requirements under basel iii capital standards. beginning in 2014, other comprehensive income related to available for sale securities (as well as pension and other post-retirement plans) are included in pnc 2019s regulatory capital (subject to a phase-in schedule) and, therefore will affect pnc 2019s regulatory capital ratios. for additional information, see the supervision and regulation section in item 1 2013 business and the capital portion of the balance sheet review section in this item 7 of this report. the duration of investment securities was 2.9 years at december 31, 2013. we estimate that, at december 31, 2013, the effective duration of investment securities was 3.0 years for an immediate 50 basis points parallel increase in interest rates and 2.8 years for an immediate 50 basis points parallel decrease in interest rates. comparable amounts at december 31, 2012 were 2.3 years and 2.2 years, respectively. we conduct a quarterly comprehensive security-level impairment assessment on all securities. for securities in an unrealized loss position, we determine whether the loss represents otti. for debt securities that we neither intend to sell nor believe we will be required to sell prior to expected recovery, we recognize the credit portion of otti charges in current earnings and include the noncredit portion of otti in net unrealized gains (losses) on otti securities on our consolidated statement of comprehensive income and net of tax in accumulated other comprehensive income (loss) on our consolidated balance sheet. during 2013 and 2012 we recognized otti credit losses of $16 million and $111 million, respectively. substantially all of the credit losses related to residential mortgage-backed and asset-backed securities collateralized by non-agency residential loans. if current housing and economic conditions were to deteriorate from current levels, and if market volatility and illiquidity were to deteriorate from current levels, or if market interest rates were to increase or credit spreads were to widen appreciably, the valuation of our investment securities portfolio could be adversely affected and we could incur additional otti credit losses that would impact our consolidated income statement. additional information regarding our investment securities is included in note 8 investment securities and note 9 fair value in the notes to consolidated financial statements included in item 8 of this report. loans held for sale table 15: loans held for sale in millions december 31 december 31.
in millions | december 312013 | december 312012
commercial mortgages at fair value | $586 | $772
commercial mortgages at lower of cost or fair value | 281 | 620
total commercial mortgages | 867 | 1392
residential mortgages at fair value | 1315 | 2096
residential mortgages at lower of cost or fair value | 41 | 124
total residential mortgages | 1356 | 2220
other | 32 | 81
total | $2255 | $3693
for commercial mortgages held for sale designated at fair value, we stopped originating these and continue to pursue opportunities to reduce these positions. at december 31, 2013, the balance relating to these loans was $586 million compared to $772 million at december 31, 2012. for commercial mortgages held for sale carried at lower of cost or fair value, we sold $2.8 billion in 2013 compared to $2.2 billion in 2012. all of these loan sales were to government agencies. total gains of $79 million were recognized on the valuation and sale of commercial mortgage loans held for sale, net of hedges, in 2013, and $41 million in 2012. residential mortgage loan origination volume was $15.1 billion in 2013 compared to $15.2 billion in 2012. substantially all such loans were originated under agency or federal housing administration (fha) standards. we sold $14.7 billion of loans and recognized related gains of $568 million in 2013. the comparable amounts for 2012 were $13.8 billion and $747 million, respectively. interest income on loans held for sale was $157 million in 2013 and $168 million in 2012. these amounts are included in other interest income on our consolidated income statement. additional information regarding our loan sale and servicing activities is included in note 3 loan sales and servicing activities and variable interest entities and note 9 fair value in our notes to consolidated financial statements included in item 8 of this report. goodwill and other intangible assets goodwill and other intangible assets totaled $11.3 billion at december 31, 2013 and $10.9 billion at december 31, 2012. the increase of $.4 billion was primarily due to additions to and changes in value of mortgage and other loan servicing rights. see additional information regarding our goodwill and intangible assets in note 10 goodwill and other intangible assets included in the notes to consolidated financial statements in item 8 of this report. 44 the pnc financial services group, inc. 2013 form 10-k.
between the years of 2012 and 2013, what was the change in the total of residential mortgages, in millions? -864.0
and what was the combined total of those mortgages in the two years, also in millions?
|
3576.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the following table sets forth information concerning increases in the total number of our aap stores during the past five years:.
- | 2012 | 2011 | 2010 | 2009 | 2008
beginning stores | 3460 | 3369 | 3264 | 3243 | 3153
new stores (1) | 116 | 95 | 110 | 75 | 109
stores closed | 2014 | -4 (4) | -5 (5) | -54 (54) | -19 (19)
ending stores | 3576 | 3460 | 3369 | 3264 | 3243
(1) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores. store technology. our store-based information systems are comprised of a proprietary and integrated point of sale, electronic parts catalog, or epc, and store-level inventory management system (collectively "store system"). information maintained by our store system is used to formulate pricing, marketing and merchandising strategies and to replenish inventory accurately and rapidly. our fully integrated system enables our store team members to assist our customers in their parts selection and ordering based on the year, make, model and engine type of their vehicles. our store system provides real-time inventory tracking at the store level allowing store team members to check the quantity of on-hand inventory for any sku, adjust stock levels for select items for store specific events, automatically process returns and defective merchandise, designate skus for cycle counts and track merchandise transfers. if a hard-to-find part or accessory is not available at one of our stores, the store system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors. available parts and accessories are then ordered electronically from another store, hub, pdq ae or directly from the vendor with immediate confirmation of price, availability and estimated delivery time. our centrally-based epc data management system enables us to reduce the time needed to (i) exchange data with our vendors and (ii) catalog and deliver updated, accurate parts information. we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities. all of these systems are tightly integrated and provide real-time, comprehensive information to store personnel, resulting in improved customer service levels, team member productivity and in-stock availability. we plan to start rolling out a new and enhanced epc in fiscal 2013 which is expected to simplify and improve the customer experience. among the improvements is a more efficient way to systematically identify add-on sales to ensure our customers have what they need to complete their automotive repair project. store support center merchandising. purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations: 2022 store support center in roanoke, virginia; 2022 regional office in minneapolis, minnesota; and 2022 global sourcing office in taipei, taiwan. our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories, oil and chemicals. our global sourcing team works closely with both teams. in fiscal 2012, we purchased merchandise from approximately 450 vendors, with no single vendor accounting for more than 9% (9%) of purchases. our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms, including pricing, payment terms and volume. the merchandising team has developed strong vendor relationships in the industry and, in a collaborative effort with our vendor partners, utilizes a category management process where we manage the mix of our product offerings to meet customer demand. we believe this process, which develops a customer-focused business plan for each merchandise category, and our global sourcing operation are critical to improving comparable store sales, gross margin and inventory productivity..
what was the number of new stores in 2008 and 2012?
|
225.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
supplementary information on oil and gas producing activities (unaudited) c o n t i n u e d summary of changes in standardized measure of discounted future net cash flows relating to proved oil and gas reserves (in millions) 2007 2006 2005 sales and transfers of oil and gas produced, net of production, transportation and administrative costs $(4887) $(5312) $(3754) net changes in prices and production, transportation and administrative costs related to future production 12845 (1342) 6648.
(in millions) | 2007 | 2006 | 2005
sales and transfers of oil and gas produced net of production transportation and administrative costs | $-4887 (4887) | $-5312 (5312) | $-3754 (3754)
net changes in prices and production transportation and administrative costs related to future production | 12845 | -1342 (1342) | 6648
extensions discoveries and improved recovery less related costs | 1816 | 1290 | 700
development costs incurred during the period | 1654 | 1251 | 1030
changes in estimated future development costs | -1727 (1727) | -527 (527) | -552 (552)
revisions of previous quantity estimates | 290 | 1319 | 820
net changes in purchases and sales of minerals in place | 23 | 30 | 4557
accretion of discount | 1726 | 1882 | 1124
net change in income taxes | -6751 (6751) | -660 (660) | -6694 (6694)
timing and other | -12 (12) | -14 (14) | 307
net change for the year | 4977 | -2083 (2083) | 4186
beginning of year | 8518 | 10601 | 6415
end of year | $13495 | $8518 | $10601
net change for the year from discontinued operations | $2013 | $-216 (216) | $162
.
what was the net change in development costs from 2006 to 2007? 403.0
what were development costs in 2007?
|
1654.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
generally, our variable-rate home equity lines of credit have either a seven or ten year draw period, followed by a 20 year amortization term. during the draw period, we have home equity lines of credit where borrowers pay interest only and home equity lines of credit where borrowers pay principal and interest. based upon outstanding balances at december 31, 2011, the following table presents the periods when home equity lines of credit draw periods are scheduled to end. home equity lines of credit - draw period end dates in millions interest only product principal and interest product.
in millions | interest only product | principal and interest product
2012 | $904 | $266
2013 | 1211 | 331
2014 | 2043 | 598
2015 | 1988 | 820
2016 and thereafter | 6961 | 5601
total (a) | $13107 | $7616
(a) includes approximately $306 million, $44 million, $60 million, $100 million, and $246 million of home equity lines of credit with balloon payments with draw periods scheduled to end in 2012, 2013, 2014, 2015, and 2016 and thereafter, respectively. we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only, as these borrowers have a demonstrated ability to make some level of principal and interest payments. based upon outstanding balances, and excluding purchased impaired loans, at december 31, 2011, for home equity lines of credit for which the borrower can no longer draw (e.g., draw period has ended or borrowing privileges have been terminated), approximately 4.32% (4.32%) were 30-89 days past due and approximately 5.57% (5.57%) were greater than or equal to 90 days past due. generally, when a borrower becomes 60 days past due, we terminate borrowing privileges, and those privileges are not subsequently reinstated. at that point, we continue our collection/recovery processes, which may include a loss mitigation loan modification resulting in a loan that is classified as a tdr. see note 5 asset quality and allowances for loan and lease losses and unfunded loan commitments and letters of credit in the notes to consolidated financial statements in item 8 of this report for additional information. loan modifications and troubled debt restructurings consumer loan modifications we modify loans under government and pnc-developed programs based upon our commitment to help eligible homeowners and borrowers avoid foreclosure, where appropriate. initially, a borrower is evaluated for a modification under a government program. if a borrower does not qualify under a government program, the borrower is then evaluated under a pnc program. our programs utilize both temporary and permanent modifications and typically reduce the interest rate, extend the term and/or defer principal. temporary and permanent modifications under programs involving a change to loan terms are generally classified as tdrs. further, certain payment plans and trial payment arrangements which do not include a contractual change to loan terms may be classified as tdrs. additional detail on tdrs is discussed below as well as in note 5 asset quality and allowances for loan and lease losses and unfunded loan commitments and letters of credit in the notes to consolidated financial statements in item 8 of this report. a temporary modification, with a term between three and 60 months, involves a change in original loan terms for a period of time and reverts to the original loan terms as of a specific date or the occurrence of an event, such as a failure to pay in accordance with the terms of the modification. typically, these modifications are for a period of up to 24 months after which the interest rate reverts to the original loan rate. a permanent modification, with a term greater than 60 months, is a modification in which the terms of the original loan are changed. permanent modifications primarily include the government-created home affordable modification program (hamp) or pnc-developed hamp-like modification programs. for consumer loan programs, such as residential mortgages and home equity loans and lines, we will enter into a temporary modification when the borrower has indicated a temporary hardship and a willingness to bring current the delinquent loan balance. examples of this situation often include delinquency due to illness or death in the family, or a loss of employment. permanent modifications are entered into when it is confirmed that the borrower does not possess the income necessary to continue making loan payments at the current amount, but our expectation is that payments at lower amounts can be made. residential mortgage and home equity loans and lines have been modified with changes in terms for up to 60 months, although the majority involve periods of three to 24 months. we also monitor the success rates and delinquency status of our loan modification programs to assess their effectiveness in serving our customers 2019 needs while mitigating credit losses. the following tables provide the number of accounts and unpaid principal balance of modified consumer real estate related loans as well as the number of accounts and unpaid principal balance of modified loans that were 60 days or more past due as of six months, nine months and twelve months after the modification date. 78 the pnc financial services group, inc. 2013 form 10-k.
what is the sum of interest only product in 2012 and principal and interest product in 2012? 1170.0
what is the value of principal and interest product in 2012?
|
266.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
entergy corporation notes to consolidated financial statements (d) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on october 1, 2003 and will then be remarketed. (e) on june 1, 2002, entergy louisiana remarketed $55 million st. charles parish pollution control revenue refunding bonds due 2030, resetting the interest rate to 4.9% (4.9%) through may 2005. (f) the bonds are subject to mandatory tender for purchase from the holders at 100% (100%) of the principal amount outstanding on june 1, 2005 and will then be remarketed. (g) the fair value excludes lease obligations, long-term doe obligations, and other long-term debt and includes debt due within one year. it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms. the annual long-term debt maturities (excluding lease obligations) and annual cash sinking fund requirements for debt outstanding as of december 31, 2002, for the next five years are as follows (in thousands):.
2003 | $1150786
2004 | $925005
2005 | $540372
2006 | $139952
2007 | $475288
not included are other sinking fund requirements of approximately $30.2 million annually, which may be satisfied by cash or by certification of property additions at the rate of 167% (167%) of such requirements. in december 2002, when the damhead creek project was sold, the buyer of the project assumed all obligations under the damhead creek credit facilities and the damhead creek interest rate swap agreements. in november 2000, entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001. covenants in the entergy corporation 7.75% (7.75%) notes require it to maintain a consolidated debt ratio of 65% (65%) or less of its total capitalization. if entergy's debt ratio exceeds this limit, or if entergy or certain of the domestic utility companies default on other credit facilities or are in bankruptcy or insolvency proceedings, an acceleration of the facility's maturity may occur. in january 2003, entergy paid in full, at maturity, the outstanding debt relating to the top of iowa wind project. capital funds agreement pursuant to an agreement with certain creditors, entergy corporation has agreed to supply system energy with sufficient capital to: fffd maintain system energy's equity capital at a minimum of 35% (35%) of its total capitalization (excluding short-term debt); fffd permit the continued commercial operation of grand gulf 1; fffd pay in full all system energy indebtedness for borrowed money when due; and fffd enable system energy to make payments on specific system energy debt, under supplements to the agreement assigning system energy's rights in the agreement as security for the specific debt..
what was the total of annual long-term debt maturities (excluding lease obligations) and annual cash sinking fund requirements for debt outstanding in 2005? 925005.0
what was that in 2004?
|
540372.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
transaction and commercial issues in many of our businesses. these skills are a valuable resource as we monitor regulatory and tariff schemes to determine our capital budgeting needs and integrate acquisitions. the company expects to realize cost reduction and performance improvement benefits in both earnings and cash flows; however, there can be no assurance that the reductions and improvements will continue and our inability to sustain the reductions and improvements may result in less than expected earnings and cash flows in 2004 and beyond. asset sales during 2003, we continued the initiative to sell all or part of certain of the company 2019s subsidiaries. this initiative was designed to decrease the company 2019s dependence on access to capital markets and improve the strength of our balance sheet by reducing financial leverage and improving liquidity. the following chart details the asset sales that were closed during 2003. sales proceeds project name date completed (in millions) location.
project name | date completed | sales proceeds (in millions) | location
cilcorp/medina valley | january 2003 | $495 | united states
aes ecogen/aes mt. stuart | january 2003 | $59 | australia
mountainview | march 2003 | $30 | united states
kelvin | march 2003 | $29 | south africa
songas | april 2003 | $94 | tanzania
aes barry limited | july 2003 | a340/$62 | united kingdom
aes haripur private ltd/aes meghnaghat ltd | december 2003 | $145 | bangladesh
aes mtkvari/aes khrami/aes telasi | august 2003 | $23 | republic of georgia
medway power limited/aes medway operations limited | november 2003 | a347/$78 | united kingdom
aes oasis limited | december 2003 | $150 | pakistan/oman
the company continues to evaluate its portfolio and business performance and may decide to dispose of additional businesses in the future. however given the improvements in our liquidity there will be a lower emphasis placed on asset sales in the future for purposes of improving liquidity and strengthening the balance sheet. for any sales that happen in the future, there can be no guarantee that the proceeds from such sale transactions will cover the entire investment in the subsidiaries. depending on which businesses are eventually sold, the entire or partial sale of any business may change the current financial characteristics of the company 2019s portfolio and results of operations. furthermore future sales may impact the amount of recurring earnings and cash flows the company would expect to achieve. subsidiary restructuring during 2003, we completed and initiated restructuring transactions for several of our south american businesses. the efforts are focused on improving the businesses long-term prospects for generating acceptable returns on invested capital or extending short-term debt maturities. businesses impacted include eletropaulo, tiete, uruguaiana and sul in brazil and gener in chile. brazil eletropaulo. aes has owned an interest in eletropaulo since april 1998, when the company was privatized. in february 2002 aes acquired a controlling interest in the business and as a consequence started to consolidate it. aes financed a significant portion of the acquisition of eletropaulo, including both common and preferred shares, through loans and deferred purchase price financing arrangements provided by the brazilian national development bank 2014 (2018 2018bndes 2019 2019), and its wholly-owned subsidiary, bndes participac 0327o 0303es s.a. (2018 2018bndespar 2019 2019), to aes 2019s subsidiaries, aes elpa s.a. (2018 2018aes elpa 2019 2019) and aes transgas empreendimentos, s.a. (2018 2018aes transgas 2019 2019)..
what were the sales proceeds from cilcorp/medina valley in january 2003?
|
495.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
goodwill goodwill represents the excess of the solexa purchase price over the sum of the amounts assigned to assets acquired less liabilities assumed. the company believes that the acquisition of solexa will produce the following significant benefits: 2022 increased market presence and opportunities. the combination of the company and solexa should increase the combined company 2019s market presence and opportunities for growth in revenue, earnings and stockholder return. the company believes that the solexa technology is highly complementary to the company 2019s own portfolio of products and services and will enhance the company 2019s capabilities to service its existing customers, as well as accelerate the develop- ment of additional technologies, products and services. the company believes that integrating solexa 2019s capabilities with the company 2019s technologies will better position the company to address the emerging biomarker research and development and in-vitro and molecular diag- nostic markets. the company began to recognize revenue from products shipped as a result of this acquisition during the first quarter of 2007. 2022 operating efficiencies. the combination of the company and solexa provides the opportunity for potential economies of scale and cost savings. the company believes that these primary factors support the amount of goodwill recognized as a result of the purchase price paid for solexa, in relation to other acquired tangible and intangible assets, including in-process research and development. the following unaudited pro forma information shows the results of the company 2019s operations for the specified reporting periods as though the acquisition had occurred as of the beginning of that period (in thousands, except per share data): year ended december 30, year ended december 31.
- | year ended december 30 2007 | year ended december 31 2006
revenue | $366854 | $187103
net income (loss) | $17388 | $-38957 (38957)
net income (loss) per share basic | $0.32 | $-0.68 (0.68)
net income (loss) per share diluted | $0.29 | $-0.68 (0.68)
the pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the acquisition taken place as of the beginning of the periods presented, or the results that may occur in the future. the pro forma results exclude the $303.4 million non-cash acquired ipr&d charge recorded upon the closing of the acquisition during the first quarter of 2007. investment in solexa on november 12, 2006, the company entered into a definitive securities purchase agreement with solexa in which the company invested approximately $50 million in solexa in exchange for 5154639 newly issued shares of solexa common stock in conjunction with the merger of the two companies. this investment was valued at $67.8 million as of december 31, 2006, which represented a market value of $13.15 per share of solexa common stock. this investment was eliminated as part of the company 2019s purchase accounting upon the closing of the merger on january 26, 2007. illumina, inc. notes to consolidated financial statements 2014 (continued).
what were revenues in 2007? 366854.0
what were they in 2006? 187103.0
what is the net difference?
|
179751.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
entergy corporation and subsidiaries management's financial discussion and analysis the decrease in interest income in 2002 was primarily due to: fffd interest recognized in 2001 on grand gulf 1's decommissioning trust funds resulting from the final order addressing system energy's rate proceeding; fffd interest recognized in 2001 at entergy mississippi and entergy new orleans on the deferred system energy costs that were not being recovered through rates; and fffd lower interest earned on declining deferred fuel balances. the decrease in interest charges in 2002 is primarily due to: fffd a decrease of $31.9 million in interest on long-term debt primarily due to the retirement of long-term debt in late 2001 and early 2002; and fffd a decrease of $76.0 million in other interest expense primarily due to interest recorded on system energy's reserve for rate refund in 2001. the refund was made in december 2001. 2001 compared to 2000 results for the year ended december 31, 2001 for u.s. utility were also affected by an increase in interest charges of $61.5 million primarily due to: fffd the final ferc order addressing the 1995 system energy rate filing; fffd debt issued at entergy arkansas in july 2001, at entergy gulf states in june 2000 and august 2001, at entergy mississippi in january 2001, and at entergy new orleans in july 2000 and february 2001; and fffd borrowings under credit facilities during 2001, primarily at entergy arkansas. non-utility nuclear the increase in earnings in 2002 for non-utility nuclear from $128 million to $201 million was primarily due to the operation of indian point 2 and vermont yankee, which were purchased in september 2001 and july 2002, respectively. the increase in earnings in 2001 for non-utility nuclear from $49 million to $128 million was primarily due to the operation of fitzpatrick and indian point 3 for a full year, as each was purchased in november 2000, and the operation of indian point 2, which was purchased in september 2001. following are key performance measures for non-utility nuclear:.
- | 2002 | 2001 | 2000
net mw in operation at december 31 | 3955 | 3445 | 2475
generation in gwh for the year | 29953 | 22614 | 7171
capacity factor for the year | 93% (93%) | 93% (93%) | 94% (94%)
2002 compared to 2001 the following fluctuations in the results of operations for non-utility nuclear in 2002 were primarily caused by the acquisitions of indian point 2 and vermont yankee (except as otherwise noted): fffd operating revenues increased $411.0 million to $1.2 billion; fffd other operation and maintenance expenses increased $201.8 million to $596.3 million; fffd depreciation and amortization expenses increased $25.1 million to $42.8 million; fffd fuel expenses increased $29.4 million to $105.2 million; fffd nuclear refueling outage expenses increased $23.9 million to $46.8 million, which was due primarily to a.
what were operating revenues in 2002? 1.2
what is that times 1000?
|
1200.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
goodwill goodwill represents the excess of the solexa purchase price over the sum of the amounts assigned to assets acquired less liabilities assumed. the company believes that the acquisition of solexa will produce the following significant benefits: 2022 increased market presence and opportunities. the combination of the company and solexa should increase the combined company 2019s market presence and opportunities for growth in revenue, earnings and stockholder return. the company believes that the solexa technology is highly complementary to the company 2019s own portfolio of products and services and will enhance the company 2019s capabilities to service its existing customers, as well as accelerate the develop- ment of additional technologies, products and services. the company believes that integrating solexa 2019s capabilities with the company 2019s technologies will better position the company to address the emerging biomarker research and development and in-vitro and molecular diag- nostic markets. the company began to recognize revenue from products shipped as a result of this acquisition during the first quarter of 2007. 2022 operating efficiencies. the combination of the company and solexa provides the opportunity for potential economies of scale and cost savings. the company believes that these primary factors support the amount of goodwill recognized as a result of the purchase price paid for solexa, in relation to other acquired tangible and intangible assets, including in-process research and development. the following unaudited pro forma information shows the results of the company 2019s operations for the specified reporting periods as though the acquisition had occurred as of the beginning of that period (in thousands, except per share data): year ended december 30, year ended december 31.
- | year ended december 30 2007 | year ended december 31 2006
revenue | $366854 | $187103
net income (loss) | $17388 | $-38957 (38957)
net income (loss) per share basic | $0.32 | $-0.68 (0.68)
net income (loss) per share diluted | $0.29 | $-0.68 (0.68)
the pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the acquisition taken place as of the beginning of the periods presented, or the results that may occur in the future. the pro forma results exclude the $303.4 million non-cash acquired ipr&d charge recorded upon the closing of the acquisition during the first quarter of 2007. investment in solexa on november 12, 2006, the company entered into a definitive securities purchase agreement with solexa in which the company invested approximately $50 million in solexa in exchange for 5154639 newly issued shares of solexa common stock in conjunction with the merger of the two companies. this investment was valued at $67.8 million as of december 31, 2006, which represented a market value of $13.15 per share of solexa common stock. this investment was eliminated as part of the company 2019s purchase accounting upon the closing of the merger on january 26, 2007. illumina, inc. notes to consolidated financial statements 2014 (continued).
in the year of 2007, what was the net income as a portion of the revenue? 0.0474
and what was the change in that net income since 2006? 56345.0
what percentage does this change represent in relation to the 2006 net income?
|
1.44634
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
used to refinance certain indebtedness which matured in the fourth quarter of 2014. interest is payable semi-annually in arrears on march 18 and september 18 of each year, or approximately $35 million per year. the 2024 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2024 notes. 2022 notes. in may 2012, the company issued $1.5 billion in aggregate principal amount of unsecured unsubordinated obligations. these notes were issued as two separate series of senior debt securities, including $750 million of 1.375% (1.375%) notes, which were repaid in june 2015 at maturity, and $750 million of 3.375% (3.375%) notes maturing in june 2022 (the 201c2022 notes 201d). net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes. interest on the 2022 notes of approximately $25 million per year is payable semi-annually on june 1 and december 1 of each year. the 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. the 201cmake-whole 201d redemption price represents a price, subject to the specific terms of the 2022 notes and related indenture, that is the greater of (a) par value and (b) the present value of future payments that will not be paid because of an early redemption, which is discounted at a fixed spread over a comparable treasury security. the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2022 notes. 2021 notes. in may 2011, the company issued $1.5 billion in aggregate principal amount of unsecured unsubordinated obligations. these notes were issued as two separate series of senior debt securities, including $750 million of 4.25% (4.25%) notes maturing in may 2021 and $750 million of floating rate notes, which were repaid in may 2013 at maturity. net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co., inc. interest on the 4.25% (4.25%) notes due in 2021 (201c2021 notes 201d) is payable semi-annually on may 24 and november 24 of each year, and is approximately $32 million per year. the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2021 notes. 2019 notes. in december 2009, the company issued $2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations. these notes were issued as three separate series of senior debt securities including $0.5 billion of 2.25% (2.25%) notes, which were repaid in december 2012, $1.0 billion of 3.50% (3.50%) notes, which were repaid in december 2014 at maturity, and $1.0 billion of 5.0% (5.0%) notes maturing in december 2019 (the 201c2019 notes 201d). net proceeds of this offering were used to repay borrowings under the cp program, which was used to finance a portion of the acquisition of barclays global investors from barclays on december 1, 2009, and for general corporate purposes. interest on the 2019 notes of approximately $50 million per year is payable semi-annually in arrears on june 10 and december 10 of each year. these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2019 notes. 13. commitments and contingencies operating lease commitments the company leases its primary office spaces under agreements that expire through 2043. future minimum commitments under these operating leases are as follows: (in millions).
year | amount
2018 | 141
2019 | 132
2020 | 126
2021 | 118
2022 | 109
thereafter | 1580
total | $2206
in may 2017, the company entered into an agreement with 50 hymc owner llc, for the lease of approximately 847000 square feet of office space located at 50 hudson yards, new york, new york. the term of the lease is twenty years from the date that rental payments begin, expected to occur in may 2023, with the option to renew for a specified term. the lease requires annual base rental payments of approximately $51 million per year during the first five years of the lease term, increasing every five years to $58 million, $66 million and $74 million per year (or approximately $1.2 billion in base rent over its twenty-year term). this lease is classified as an operating lease and, as such, is not recorded as a liability on the consolidated statements of financial condition. rent expense and certain office equipment expense under lease agreements amounted to $132 million, $134 million and $136 million in 2017, 2016 and 2015, respectively. investment commitments. at december 31, 2017, the company had $298 million of various capital commitments to fund sponsored investment funds, including consolidated vies. these funds include private equity funds, real assets funds, and opportunistic funds. this amount excludes additional commitments made by consolidated funds of funds to underlying third-party funds as third-party noncontrolling interest holders have the legal obligation to fund the respective commitments of such funds of funds. generally, the timing of the funding of these commitments is unknown and the commitments are callable on demand at any time prior to the expiration of the commitment. these unfunded commitments are not recorded on the consolidated statements of financial condition. these commitments do not include potential future commitments approved by the company that are not yet legally binding. the company intends to make additional capital commitments from time to time to fund additional investment products for, and with, its clients. contingencies contingent payments related to business acquisitions. in connection with certain acquisitions, blackrock is required to make contingent payments, subject to achieving specified performance targets, which may include revenue related to acquired contracts or new capital commitments for certain products. the fair value of the remaining aggregate contingent payments at december 31, 2017 totaled $236 million, including $128 million related to the first reserve transaction, and is included in other liabilities on the consolidated statements of financial condition..
what is the increased rent after five years? 58.0
and the base rental during the first five years? 51.0
so what was the difference between these two values?
|
7.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 (continued) the term of the economic rights agreement is seventy years; however, tv azteca has the right to purchase, at fair market value, the economic rights from the company at any time during the last fifty years of the agreement. should tv azteca elect to purchase the economic rights (in whole or in part), it would also be obligated to repay a proportional amount of the loan discussed above at the time of such election. the company 2019s obligation to pay tv azteca $1.5 million annually would also be reduced proportionally. the company has accounted for the annual payment of $1.5 million as a capital lease (initially recording an asset and a corresponding liability of approximately $18.6 million). the capital lease asset and the discount on the note, which aggregate approximately $30.2 million, represent the cost to acquire the economic rights and are being amortized over the seventy-year life of the economic rights agreement. on a quarterly basis, the company assesses the recoverability of its note receivable from tv azteca. as of december 31, 2005 and 2004, the company has assessed the recoverability of the note receivable from tv azteca and concluded that no adjustment to its carrying value is required. an executive officer and former director of the company served as a director of tv azteca from december 1999 to february 2006. as of december 31, 2005 and 2004, the company also had other long-term notes receivable outstanding of approximately $11.1 million and $11.2 million, respectively. 7. financing arrangements outstanding amounts under the company 2019s long-term financing arrangements consisted of the following as of december 31, (in thousands):.
- | 2005 | 2004
american tower credit facility | $793000 | $698000
spectrasite credit facility | 700000 | -
senior subordinated notes | 400000 | 400000
senior subordinated discount notes net of discount and warrant valuation | 160252 | 303755
senior notes net of discount and premium | 726754 | 1001817
convertible notes net of discount | 773058 | 830056
notes payable and capital leases | 60365 | 59986
total | 3613429 | 3293614
less current portion of other long-term obligations | -162153 (162153) | -138386 (138386)
long-term debt | $3451276 | $3155228
new credit facilities 2014in october 2005, the company refinanced the two existing credit facilities of its principal operating subsidiaries. the company replaced the existing american tower $1.1 billion senior secured credit facility with a new $1.3 billion senior secured credit facility and replaced the existing spectrasite $900.0 million senior secured credit facility with a new $1.15 billion senior secured credit facility. as a result of the repayment of the previous credit facilities, the company recorded a net loss on retirement of long-term obligations of $9.8 million in the fourth quarter of 2005..
between the years of 2004 and 2005, what was the variation in the long-term debt?
|
296048.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the following table sets forth information concerning increases in the total number of our aap stores during the past five years:.
- | 2012 | 2011 | 2010 | 2009 | 2008
beginning stores | 3460 | 3369 | 3264 | 3243 | 3153
new stores (1) | 116 | 95 | 110 | 75 | 109
stores closed | 2014 | -4 (4) | -5 (5) | -54 (54) | -19 (19)
ending stores | 3576 | 3460 | 3369 | 3264 | 3243
(1) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores. store technology. our store-based information systems are comprised of a proprietary and integrated point of sale, electronic parts catalog, or epc, and store-level inventory management system (collectively "store system"). information maintained by our store system is used to formulate pricing, marketing and merchandising strategies and to replenish inventory accurately and rapidly. our fully integrated system enables our store team members to assist our customers in their parts selection and ordering based on the year, make, model and engine type of their vehicles. our store system provides real-time inventory tracking at the store level allowing store team members to check the quantity of on-hand inventory for any sku, adjust stock levels for select items for store specific events, automatically process returns and defective merchandise, designate skus for cycle counts and track merchandise transfers. if a hard-to-find part or accessory is not available at one of our stores, the store system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors. available parts and accessories are then ordered electronically from another store, hub, pdq ae or directly from the vendor with immediate confirmation of price, availability and estimated delivery time. our centrally-based epc data management system enables us to reduce the time needed to (i) exchange data with our vendors and (ii) catalog and deliver updated, accurate parts information. we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities. all of these systems are tightly integrated and provide real-time, comprehensive information to store personnel, resulting in improved customer service levels, team member productivity and in-stock availability. we plan to start rolling out a new and enhanced epc in fiscal 2013 which is expected to simplify and improve the customer experience. among the improvements is a more efficient way to systematically identify add-on sales to ensure our customers have what they need to complete their automotive repair project. store support center merchandising. purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations: 2022 store support center in roanoke, virginia; 2022 regional office in minneapolis, minnesota; and 2022 global sourcing office in taipei, taiwan. our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories, oil and chemicals. our global sourcing team works closely with both teams. in fiscal 2012, we purchased merchandise from approximately 450 vendors, with no single vendor accounting for more than 9% (9%) of purchases. our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms, including pricing, payment terms and volume. the merchandising team has developed strong vendor relationships in the industry and, in a collaborative effort with our vendor partners, utilizes a category management process where we manage the mix of our product offerings to meet customer demand. we believe this process, which develops a customer-focused business plan for each merchandise category, and our global sourcing operation are critical to improving comparable store sales, gross margin and inventory productivity..
what was the beginning number of stores in 2012? 3576.0
and what was the number of stores in the end of that year? 3460.0
what was, then, the change in that number throughout the year? 116.0
what was the ending number of stores in 2012? 3460.0
and how much does that change represent in relation to this number?
|
0.03353
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
note 10 2013 debt our long-term debt consisted of the following (in millions):.
- | 2015 | 2014
notes with rates from 1.85% (1.85%) to 3.80% (3.80%) due 2016 to 2045 | $8150 | $1400
notes with rates from 4.07% (4.07%) to 5.72% (5.72%) due 2019 to 2046 | 6089 | 3589
notes with rates from 6.15% (6.15%) to 9.13% (9.13%) due 2016 to 2036 | 1941 | 1941
other debt | 116 | 111
total long-term debt | 16296 | 7041
less: unamortized discounts and deferred financing costs | -1035 (1035) | -899 (899)
total long-term debt net | $15261 | $6142
revolving credit facilities on october 9, 2015, we entered into a new $2.5 billion revolving credit facility (the 5-year facility) with various banks and concurrently terminated our existing $1.5 billion revolving credit facility, which was scheduled to expire in august 2019. the 5-year facility, which expires on october 9, 2020, is available for general corporate purposes. the undrawn portion of the 5-year facility is also available to serve as a backup facility for the issuance of commercial paper. we may request and the banks may grant, at their discretion, an increase in the borrowing capacity under the 5-year facility of up to an additional $500 million. there were no borrowings outstanding under the 5-year facility as of and during the year ended december 31, in contemplation of our acquisition of sikorsky, on october 9, 2015, we also entered into a 364-day revolving credit facility (the 364-day facility, and together with the 5-year facility, the facilities) with various banks that provided $7.0 billion of funding for general corporate purposes, including the acquisition of sikorsky. concurrent with the consummation of the sikorsky acquisition, we borrowed $6.0 billion under the 364-day facility. on november 23, 2015, we repaid all outstanding borrowings under the 364-day facility with proceeds received from an issuance of new debt (see below) and terminated any remaining commitments of the lenders under the 364-day facility. borrowings under the facilities bear interest at rates based, at our option, on a eurodollar rate or a base rate, as defined in the facilities 2019 agreements. each bank 2019s obligation to make loans under the 5-year facility is subject to, among other things, our compliance with various representations, warranties, and covenants, including covenants limiting our ability and certain of our subsidiaries 2019 ability to encumber assets and a covenant not to exceed a maximum leverage ratio, as defined in the five-year facility agreement. as of december 31, 2015, we were in compliance with all covenants contained in the 5-year facility agreement, as well as in our debt agreements. long-term debt on november 23, 2015, we issued $7.0 billion of notes (the november 2015 notes) in a registered public offering. we received net proceeds of $6.9 billion from the offering, after deducting discounts and debt issuance costs, which are being amortized as interest expense over the life of the debt. the november 2015 notes consist of: 2022 $750 million maturing in 2018 with a fixed interest rate of 1.85% (1.85%) (the 2018 notes); 2022 $1.25 billion maturing in 2020 with a fixed interest rate of 2.50% (2.50%) (the 2020 notes); 2022 $500 million maturing in 2023 with a fixed interest rate of 3.10% (3.10%) the 2023 notes); 2022 $2.0 billion maturing in 2026 with a fixed interest rate of 3.55% (3.55%) (the 2026 notes); 2022 $500 million maturing in 2036 with a fixed interest rate of 4.50% (4.50%) (the 2036 notes); and 2022 $2.0 billion maturing in 2046 with a fixed interest rate of 4.70% (4.70%) (the 2046 notes). we may, at our option, redeem some or all of the november 2015 notes and unpaid interest at any time by paying the principal amount of notes being redeemed plus any make-whole premium and accrued and unpaid interest to the date of redemption. interest is payable on the 2018 notes and the 2020 notes on may 23 and november 23 of each year, beginning on may 23, 2016; on the 2023 notes and the 2026 notes on january 15 and july 15 of each year, beginning on july 15, 2016; and on the 2036 notes and the 2046 notes on may 15 and november 15 of each year, beginning on may 15, 2016. the november 2015 notes rank equally in right of payment with all of our existing unsecured and unsubordinated indebtedness. the proceeds of the november 2015 notes were used to repay $6.0 billion of borrowings under our 364-day facility and for general corporate purposes..
what was the total long-term debt net in 2015? 15261.0
and what was it in 2014? 6142.0
what was, then, the change over the year? 9119.0
what was the total long-term debt net in 2014?
|
6142.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
item 7. management 2019s discussion and analysis of financial condition and results of operations our management 2019s discussion and analysis of financial condition and results of operations (md&a) is provided in addition to the accompanying consolidated financial statements and notes to assist readers in understanding our results of operations, financial condition, and cash flows. md&a is organized as follows: 2022 overview. discussion of our business and overall analysis of financial and other highlights affecting the company in order to provide context for the remainder of md&a. 2022 critical accounting estimates. accounting estimates that we believe are most important to understanding the assumptions and judgments incorporated in our reported financial results and forecasts. 2022 results of operations. an analysis of our financial results comparing 2013 to 2012 and comparing 2012 to 2022 liquidity and capital resources. an analysis of changes in our balance sheets and cash flows, and discussion of our financial condition and potential sources of liquidity. 2022 fair value of financial instruments. discussion of the methodologies used in the valuation of our financial instruments. 2022 contractual obligations and off-balance-sheet arrangements. overview of contractual obligations, contingent liabilities, commitments, and off-balance-sheet arrangements outstanding as of december 28, 2013, including expected payment schedule. the various sections of this md&a contain a number of forward-looking statements that involve a number of risks and uncertainties. words such as 201canticipates, 201d 201cexpects, 201d 201cintends, 201d 201cplans, 201d 201cbelieves, 201d 201cseeks, 201d 201cestimates, 201d 201ccontinues, 201d 201cmay, 201d 201cwill, 201d 201cshould, 201d and variations of such words and similar expressions are intended to identify such forward-looking statements. in addition, any statements that refer to projections of our future financial performance, our anticipated growth and trends in our businesses, uncertain events or assumptions, and other characterizations of future events or circumstances are forward-looking statements. such statements are based on our current expectations and could be affected by the uncertainties and risk factors described throughout this filing and particularly in 201crisk factors 201d in part i, item 1a of this form 10-k. our actual results may differ materially, and these forward-looking statements do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that had not been completed as of february 14, 2014. overview our results of operations for each period were as follows:.
(dollars in millions except per share amounts) | three months ended dec. 282013 | three months ended sept. 282013 | three months ended change | three months ended dec. 282013 | three months ended dec. 292012 | change
net revenue | $13834 | $13483 | $351 | $52708 | $53341 | $-633 (633)
gross margin | $8571 | $8414 | $157 | $31521 | $33151 | $-1630 (1630)
gross margin percentage | 62.0% (62.0%) | 62.4% (62.4%) | (0.4)% (%) | 59.8% (59.8%) | 62.1% (62.1%) | (2.3)% (%)
operating income | $3549 | $3504 | $45 | $12291 | $14638 | $-2347 (2347)
net income | $2625 | $2950 | $-325 (325) | $9620 | $11005 | $-1385 (1385)
diluted earnings per common share | $0.51 | $0.58 | $-0.07 (0.07) | $1.89 | $2.13 | $-0.24 (0.24)
revenue for 2013 was down 1% (1%) from 2012. pccg experienced lower platform unit sales in the first half of the year, but saw offsetting growth in the back half as the pc market began to show signs of stabilization. dcg continued to benefit from the build out of internet cloud computing and the strength of our product portfolio resulting in increased platform volumes for dcg for the year. higher factory start-up costs for our next-generation 14nm process technology led to a decrease in gross margin compared to 2012. in response to the current business environment and to better align resources, management approved several restructuring actions including targeted workforce reductions as well as the exit of certain businesses and facilities. these actions resulted in restructuring and asset impairment charges of $240 million for 2013. table of contents.
what was the change in the net revenue from 2012 to 2013?
|
-633.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
entergy corporation and subsidiaries notes to financial statements (a) consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). (c) pursuant to the nuclear waste policy act of 1982, entergy 2019s nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service. the contracts include a one-time fee for generation prior to april 7, 1983. entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term (d) see note 10 to the financial statements for further discussion of the waterford 3 and grand gulf lease obligations. (e) the fair value excludes lease obligations of $149 million at entergy louisiana and $97 million at system energy, long-term doe obligations of $181 million at entergy arkansas, and the note payable to nypa of $95 million at entergy, and includes debt due within one year. fair values are classified as level 2 in the fair value hierarchy discussed in note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. the annual long-term debt maturities (excluding lease obligations and long-term doe obligations) for debt outstanding as of december 31, 2013, for the next five years are as follows: amount (in thousands).
- | amount (in thousands)
2014 | $385373
2015 | $1110566
2016 | $270852
2017 | $766801
2018 | $1324616
in november 2000, entergy 2019s non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 in 2001 resulted in entergy becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001. in july 2003 a payment of $102 million was made prior to maturity on the note payable to nypa. under a provision in a letter of credit supporting these notes, if certain of the utility operating companies or system energy were to default on other indebtedness, entergy could be required to post collateral to support the letter of credit. entergy gulf states louisiana, entergy louisiana, entergy mississippi, entergy texas, and system energy have obtained long-term financing authorizations from the ferc that extend through october 2015. entergy arkansas has obtained long-term financing authorization from the apsc that extends through december 2015. entergy new orleans has obtained long-term financing authorization from the city council that extends through july 2014. capital funds agreement pursuant to an agreement with certain creditors, entergy corporation has agreed to supply system energy with sufficient capital to: 2022 maintain system energy 2019s equity capital at a minimum of 35% (35%) of its total capitalization (excluding short- term debt);.
what is the amount of long-term debt due in 2014, in thousands? 385373.0
and what is it for 2015, also in thousands?
|
1110566.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
abiomed, inc. and subsidiaries notes to consolidated financial statements 2014 (continued) note 14. income taxes (continued) on april 1, 2007, the company adopted financial interpretation fin no. 48, accounting for uncertainty in income taxes 2014an interpretation of fasb statement no. 109 (201cfin no. 48 201d), which clarifies the accounting for uncertainty in income taxes recognized in an enterprise 2019s financial statements in accordance with fasb statement no. 109, accounting for income taxes. fin no. 48 prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return. fin no. 48 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition and defines the criteria that must be met for the benefits of a tax position to be recognized. as a result of its adoption of fin no. 48, the company recorded the cumulative effect of the change in accounting principle of $0.3 million as a decrease to opening retained earnings and an increase to other long-term liabilities as of april 1, 2007. this adjustment related to state nexus for failure to file tax returns in various states for the years ended march 31, 2003, 2004, and 2005. the company initiated a voluntary disclosure plan, which it completed in fiscal year 2009. the company elected to recognize interest and/or penalties related to income tax matters in income tax expense in its consolidated statements of operations. as of march 31, 2009, the company had remitted all outstanding amounts owed to each of the states in connection with the outstanding taxes owed at march 31, 2008. as such, the company had no fin no. 48 liability at march 31, 2009. on a quarterly basis, the company accrues for the effects of uncertain tax positions and the related potential penalties and interest. it is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the unrecognized tax positions will increase or decrease during the next 12 months; however, it is not expected that the change will have a significant effect on the company 2019s results of operations or financial position. a reconciliation of the beginning and ending balance of unrecognized tax benefits, excluding accrued interest recorded at march 31, 2009 (in thousands) is as follows:.
balance at march 31 2008 | $168
reductions for tax positions for closing of the applicable statute of limitations | -168 (168)
balance at march 31 2009 | $2014
the company and its subsidiaries are subject to u.s. federal income tax, as well as income tax of multiple state and foreign jurisdictions. the company has accumulated significant losses since its inception in 1981. all tax years remain subject to examination by major tax jurisdictions, including the federal government and the commonwealth of massachusetts. however, since the company has net operating loss and tax credit carry forwards which may be utilized in future years to offset taxable income, those years may also be subject to review by relevant taxing authorities if the carry forwards are utilized. note 15. commitments and contingencies the company 2019s acquisition of impella provided that abiomed was required to make contingent payments to impella 2019s former shareholders as follows: 2022 upon fda approval of the impella 2.5 device, a payment of $5583333 2022 upon fda approval of the impella 5.0 device, a payment of $5583333, and 2022 upon the sale of 1000 units of impella 2019s products worldwide, a payment of $5583334. the two milestones related to sales and fda approval of the impella 2.5 device were achieved and paid prior to march 31, 2009. in april 2009, the company received fda 510 (k) clearance of its impella 5.0 product, triggering an obligation to pay the milestone related to the impella 5.0 device. in may 2009, the company paid $1.8 million of this final milestone in cash and elected to pay the remaining amount through the issuance of approximately 664612 shares of common stock..
what would be the payments made upon the sale of 1000 units of impella 2019s products worldwide? 5583334.0
and converted to the single digits?
|
5.58333
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
2011 compared to 2010 mst 2019s net sales for 2011 decreased $311 million, or 4% (4%), compared to 2010. the decrease was attributable to decreased volume of approximately $390 million for certain ship and aviation system programs (primarily maritime patrol aircraft and ptds) and approximately $75 million for training and logistics solutions programs. partially offsetting these decreases was higher sales of about $165 million from production on the lcs program. mst 2019s operating profit for 2011 decreased $68 million, or 10% (10%), compared to 2010. the decrease was attributable to decreased operating profit of approximately $55 million as a result of increased reserves for contract cost matters on various ship and aviation system programs (including the terminated presidential helicopter program) and approximately $40 million due to lower volume and increased reserves on training and logistics solutions. partially offsetting these decreases was higher operating profit of approximately $30 million in 2011 primarily due to the recognition of reserves on certain undersea systems programs in 2010. adjustments not related to volume, including net profit rate adjustments described above, were approximately $55 million lower in 2011 compared to 2010. backlog backlog increased in 2012 compared to 2011 mainly due to increased orders on ship and aviation system programs (primarily mh-60 and lcs), partially offset decreased orders and higher sales volume on integrated warfare systems and sensors programs (primarily aegis). backlog decreased slightly in 2011 compared to 2010 primarily due to higher sales volume on various integrated warfare systems and sensors programs. trends we expect mst 2019s net sales to decline in 2013 in the low single digit percentage range as compared to 2012 due to the completion of ptds deliveries in 2012 and expected lower volume on training services programs. operating profit and margin are expected to increase slightly from 2012 levels primarily due to anticipated improved contract performance. space systems our space systems business segment is engaged in the research and development, design, engineering, and production of satellites, strategic and defensive missile systems, and space transportation systems. space systems is also responsible for various classified systems and services in support of vital national security systems. space systems 2019 major programs include the space-based infrared system (sbirs), advanced extremely high frequency (aehf) system, mobile user objective system (muos), global positioning satellite (gps) iii system, geostationary operational environmental satellite r-series (goes-r), trident ii d5 fleet ballistic missile, and orion. operating results for our space systems business segment include our equity interests in united launch alliance (ula), which provides expendable launch services for the u.s. government, united space alliance (usa), which provided processing activities for the space shuttle program and is winding down following the completion of the last space shuttle mission in 2011, and a joint venture that manages the u.k. 2019s atomic weapons establishment program. space systems 2019 operating results included the following (in millions):.
- | 2012 | 2011 | 2010
net sales | $8347 | $8161 | $8268
operating profit | 1083 | 1063 | 1030
operating margins | 13.0% (13.0%) | 13.0% (13.0%) | 12.5% (12.5%)
backlog at year-end | 18100 | 16000 | 17800
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..
what were operating profits in 2012? 1083.0
what were they in 2011? 1063.0
what is the net change?
|
20.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price. the 2017 notes were issued at a discount of $6 million, which is being amortized over their ten-year term. the company incurred approximately $4 million of debt issuance costs, which are being amortized over ten years. at december 31, 2013, $2 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition. 13. commitments and contingencies operating lease commitments the company leases its primary office spaces under agreements that expire through 2035. future minimum commitments under these operating leases are as follows: (in millions).
year | amount
2014 | $135
2015 | 127
2016 | 110
2017 | 109
2018 | 106
thereafter | 699
total | $1286
rent expense and certain office equipment expense under agreements amounted to $137 million, $133 million and $154 million in 2013, 2012 and 2011, respectively. investment commitments. at december 31, 2013, the company had $216 million of various capital commitments to fund sponsored investment funds, including funds of private equity funds, real estate funds, infrastructure funds, opportunistic funds and distressed credit funds. this amount excludes additional commitments made by consolidated funds of funds to underlying third-party funds as third-party noncontrolling interest holders have the legal obligation to fund the respective commitments of such funds of funds. generally, the timing of the funding of these commitments is unknown and the commitments are callable on demand at any time prior to the expiration of the commitment. these unfunded commitments are not recorded on the consolidated statements of financial condition. these commitments do not include potential future commitments approved by the company, but which are not yet legally binding. the company intends to make additional capital commitments from time to time to fund additional investment products for, and with, its clients. contingencies contingent payments. the company acts as the portfolio manager in a series of credit default swap transactions and has a maximum potential exposure of $17 million under a credit default swap between the company and counterparty. see note 7, derivatives and hedging, for further discussion. contingent payments related to business acquisitions. in connection with the credit suisse etf transaction, blackrock is required to make contingent payments annually to credit suisse, subject to achieving specified thresholds during a seven-year period, subsequent to the acquisition date. in addition, blackrock is required to make contingent payments related to the mgpa transaction during a five-year period, subject to achieving specified thresholds, subsequent to the acquisition date. the fair value of the contingent payments at december 31, 2013 is not significant to the consolidated statement of financial condition and is included in other liabilities. legal proceedings. from time to time, blackrock receives subpoenas or other requests for information from various u.s. federal, state governmental and domestic and international regulatory authorities in connection with certain industry-wide or other investigations or proceedings. it is blackrock 2019s policy to cooperate fully with such inquiries. the company and certain of its subsidiaries have been named as defendants in various legal actions, including arbitrations and other litigation arising in connection with blackrock 2019s activities. additionally, certain blackrock- sponsored investment funds that the company manages are subject to lawsuits, any of which potentially could harm the investment returns of the applicable fund or result in the company being liable to the funds for any resulting damages. management, after consultation with legal counsel, currently does not anticipate that the aggregate liability, if any, arising out of regulatory matters or lawsuits will have a material effect on blackrock 2019s results of operations, financial position, or cash flows. however, there is no assurance as to whether any such pending or threatened matters will have a material effect on blackrock 2019s results of operations, financial position or cash flows in any future reporting period. due to uncertainties surrounding the outcome of these matters, management cannot reasonably estimate the possible loss or range of loss that may arise from these matters. indemnifications. in the ordinary course of business or in connection with certain acquisition agreements, blackrock enters into contracts pursuant to which it may agree to indemnify third parties in certain circumstances. the terms of these indemnities vary from contract to contract and the amount of indemnification liability, if any, cannot be determined or the likelihood of any liability is considered remote. consequently, no liability has been recorded on the consolidated statement of financial condition. in connection with securities lending transactions, blackrock has issued certain indemnifications to certain securities lending clients against potential loss resulting from a borrower 2019s failure to fulfill its obligations under the securities lending agreement should the value of the collateral pledged by the borrower at the time of default be insufficient to cover the borrower 2019s obligation under the securities lending agreement. at december 31, 2013, the company indemnified certain of its clients for their securities lending loan balances of approximately $118.3 billion. the company held as agent, cash and securities totaling $124.6 billion as collateral for indemnified securities on loan at december 31, 2013. the fair value of these indemnifications was not material at december 31, 2013..
what was the difference in rent expense and certain office equipment expense under agreements between 2012 and 2013? 4.0
and the specific value for 2013 again? 133.0
so what was the growth rate over this time?
|
0.03008
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
at december 31, 2015 and 2014, we had a modest working capital surplus. this reflects a strong cash position that provides enhanced liquidity in an uncertain economic environment. in addition, we believe we have adequate access to capital markets to meet any foreseeable cash requirements, and we have sufficient financial capacity to satisfy our current liabilities. cash flows.
millions | 2015 | 2014 | 2013
cash provided by operating activities | $7344 | $7385 | $6823
cash used in investing activities | -4476 (4476) | -4249 (4249) | -3405 (3405)
cash used in financing activities | -3063 (3063) | -2982 (2982) | -3049 (3049)
net change in cash and cash equivalents | $-195 (195) | $154 | $369
operating activities cash provided by operating activities decreased in 2015 compared to 2014 due to lower net income and changes in working capital, partially offset by the timing of tax payments. federal tax law provided for 100% (100%) bonus depreciation for qualified investments made during 2011 and 50% (50%) bonus depreciation for qualified investments made during 2012-2013. as a result, the company deferred a substantial portion of its 2011-2013 income tax expense, contributing to the positive operating cash flow in those years. congress extended 50% (50%) bonus depreciation for 2014, but this extension occurred in december, and the related benefit was realized in 2015, rather than 2014. similarly, in december of 2015, congress extended bonus depreciation through 2019, which delayed the benefit of 2015 bonus depreciation into 2016. bonus depreciation will be at a rate of 50% (50%) for 2015, 2016 and 2017, 40% (40%) for 2018 and 30% (30%) for 2019. higher net income in 2014 increased cash provided by operating activities compared to 2013, despite higher income tax payments. 2014 income tax payments were higher than 2013 primarily due to higher income, but also because we paid taxes previously deferred by bonus depreciation. investing activities higher capital investments in locomotives and freight cars, including $327 million in early lease buyouts, which we exercised due to favorable economic terms and market conditions, drove the increase in cash used in investing activities in 2015 compared to 2014. higher capital investments, including the early buyout of the long-term operating lease of our headquarters building for approximately $261 million, drove the increase in cash used in investing activities in 2014 compared to 2013. significant investments also were made for new locomotives, freight cars and containers, and capacity and commercial facility projects. capital investments in 2014 also included $99 million for the early buyout of locomotives and freight cars under long-term operating leases, which we exercised due to favorable economic terms and market conditions..
what was the cash provided by operating activities for 2015? 7344.0
and in 2014? 7385.0
so what was the difference between these two values? -41.0
and the value for 2014 again? 7385.0
so what was the percentage change during this time?
|
-0.00555
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's peer group and the s&p 500 index. the graph assumes the investment of $100 as of december 31, 2013, in pmi common stock (at prices quoted on the new york stock exchange) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis. date pmi pmi peer group (1) s&p 500 index.
date | pmi | pmi peer group (1) | s&p 500 index
december 31 2013 | $100.00 | $100.00 | $100.00
december 31 2014 | $97.90 | $107.80 | $113.70
december 31 2015 | $111.00 | $116.80 | $115.30
december 31 2016 | $120.50 | $118.40 | $129.00
december 31 2017 | $144.50 | $140.50 | $157.20
december 31 2018 | $96.50 | $127.70 | $150.30
(1) the pmi peer group presented in this graph is the same as that used in the prior year. the pmi peer group was established based on a review of four characteristics: global presence; a focus on consumer products; and net revenues and a market capitalization of a similar size to those of pmi. the review also considered the primary international tobacco companies. as a result of this review, the following companies constitute the pmi peer group: altria group, inc., anheuser-busch inbev sa/nv, british american tobacco p.l.c., the coca-cola company, colgate-palmolive co., diageo plc, heineken n.v., imperial brands plc, japan tobacco inc., johnson & johnson, kimberly-clark corporation, the kraft-heinz company, mcdonald's corp., mondel z international, inc., nestl e9 s.a., pepsico, inc., the procter & gamble company, roche holding ag, and unilever nv and plc. note: figures are rounded to the nearest $0.10..
what was the price performance of the pmi in 2014? 97.9
and by what amount did it change since 2013? -2.1
what is this amount as a portion of that price in 2013? -0.021
and what was the change in the performance price of that stock for the full five years shown in the chart? -3.5
what is this five year change as a percent of the 2013 price? -0.035
and in this same period, what was that change for the s&p 500 index?
|
50.3
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
2011 compared to 2010 mst 2019s net sales for 2011 decreased $311 million, or 4% (4%), compared to 2010. the decrease was attributable to decreased volume of approximately $390 million for certain ship and aviation system programs (primarily maritime patrol aircraft and ptds) and approximately $75 million for training and logistics solutions programs. partially offsetting these decreases was higher sales of about $165 million from production on the lcs program. mst 2019s operating profit for 2011 decreased $68 million, or 10% (10%), compared to 2010. the decrease was attributable to decreased operating profit of approximately $55 million as a result of increased reserves for contract cost matters on various ship and aviation system programs (including the terminated presidential helicopter program) and approximately $40 million due to lower volume and increased reserves on training and logistics solutions. partially offsetting these decreases was higher operating profit of approximately $30 million in 2011 primarily due to the recognition of reserves on certain undersea systems programs in 2010. adjustments not related to volume, including net profit rate adjustments described above, were approximately $55 million lower in 2011 compared to 2010. backlog backlog increased in 2012 compared to 2011 mainly due to increased orders on ship and aviation system programs (primarily mh-60 and lcs), partially offset decreased orders and higher sales volume on integrated warfare systems and sensors programs (primarily aegis). backlog decreased slightly in 2011 compared to 2010 primarily due to higher sales volume on various integrated warfare systems and sensors programs. trends we expect mst 2019s net sales to decline in 2013 in the low single digit percentage range as compared to 2012 due to the completion of ptds deliveries in 2012 and expected lower volume on training services programs. operating profit and margin are expected to increase slightly from 2012 levels primarily due to anticipated improved contract performance. space systems our space systems business segment is engaged in the research and development, design, engineering, and production of satellites, strategic and defensive missile systems, and space transportation systems. space systems is also responsible for various classified systems and services in support of vital national security systems. space systems 2019 major programs include the space-based infrared system (sbirs), advanced extremely high frequency (aehf) system, mobile user objective system (muos), global positioning satellite (gps) iii system, geostationary operational environmental satellite r-series (goes-r), trident ii d5 fleet ballistic missile, and orion. operating results for our space systems business segment include our equity interests in united launch alliance (ula), which provides expendable launch services for the u.s. government, united space alliance (usa), which provided processing activities for the space shuttle program and is winding down following the completion of the last space shuttle mission in 2011, and a joint venture that manages the u.k. 2019s atomic weapons establishment program. space systems 2019 operating results included the following (in millions):.
- | 2012 | 2011 | 2010
net sales | $8347 | $8161 | $8268
operating profit | 1083 | 1063 | 1030
operating margins | 13.0% (13.0%) | 13.0% (13.0%) | 12.5% (12.5%)
backlog at year-end | 18100 | 16000 | 17800
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..
what was operating profit in 2011? 1063.0
what was it in 2010? 1030.0
what is the net change in value? 33.0
what is that change over the 2010 value?
|
0.03204
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the aes corporation notes to consolidated financial statements 2014 (continued) december 31, 2017, 2016, and 2015 was dispatched starting in february 2018. aes puerto rico continues to be the lowest cost and epa compliant energy provider in puerto rico. therefore, we expect aes puerto rico to continue to be a critical supplier to prepa. starting prior to the hurricanes, prepa has been facing economic challenges that could impact the company, and on july 2, 2017, filed for bankruptcy under title iii. as a result of the bankruptcy filing, aes puerto rico and aes ilumina 2019s non-recourse debt of $365 million and $36 million, respectively, is in default and has been classified as current as of december 31, 2017. in november 2017, aes puerto rico signed a forbearance and standstill agreement with its lenders to prevent the lenders from taking any action against the company due to the default events. this agreement will expire on march 22, 2018. the company's receivable balances in puerto rico as of december 31, 2017 totaled $86 million, of which $53 million was overdue. after the filing of title iii protection, and up until the disruption caused by the hurricanes, aes in puerto rico was collecting the overdue amounts from prepa in line with historic payment patterns. considering the information available as of the filing date, management believes the carrying amount of our assets in puerto rico of $627 million is recoverable as of december 31, 2017 and no reserve on the receivables is required. foreign currency risks 2014 aes operates businesses in many foreign countries and such operations could be impacted by significant fluctuations in foreign currency exchange rates. fluctuations in currency exchange rate between u.s. dollar and the following currencies could create significant fluctuations in earnings and cash flows: the argentine peso, the brazilian real, the dominican republic peso, the euro, the chilean peso, the colombian peso, and the philippine peso. concentrations 2014 due to the geographical diversity of its operations, the company does not have any significant concentration of customers or sources of fuel supply. several of the company's generation businesses rely on ppas with one or a limited number of customers for the majority of, and in some cases all of, the relevant businesses' output over the term of the ppas. however, no single customer accounted for 10% (10%) or more of total revenue in 2017, 2016 or 2015. the cash flows and results of operations of our businesses depend on the credit quality of our customers and the continued ability of our customers and suppliers to meet their obligations under ppas and fuel supply agreements. if a substantial portion of the company's long-term ppas and/or fuel supply were modified or terminated, the company would be adversely affected to the extent that it would be unable to replace such contracts at equally favorable terms. 26. related party transactions certain of our businesses in panama and the dominican republic are partially owned by governments either directly or through state-owned institutions. in the ordinary course of business, these businesses enter into energy purchase and sale transactions, and transmission agreements with other state-owned institutions which are controlled by such governments. at two of our generation businesses in mexico, the offtakers exercise significant influence, but not control, through representation on these businesses' boards of directors. these offtakers are also required to hold a nominal ownership interest in such businesses. in chile, we provide capacity and energy under contractual arrangements to our investment which is accounted for under the equity method of accounting. additionally, the company provides certain support and management services to several of its affiliates under various agreements. the company's consolidated statements of operations included the following transactions with related parties for the periods indicated (in millions):.
years ended december 31, | 2017 | 2016 | 2015
revenue 2014non-regulated | $1297 | $1100 | $1099
cost of sales 2014non-regulated | 220 | 210 | 330
interest income | 8 | 4 | 25
interest expense | 36 | 39 | 33
.
what is the total of receivables from puerto rico? 86.0
what was the amount overdue?
|
53.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
divestiture of our arrow and moores businesses, and an unfavorable sales mix of international plumbing products, which, in aggregate, decreased sales by two percent. net sales for 2016 were positively affected by increased sales volume of plumbing products, paints and other coating products and builders' hardware. net sales for 2016 were also positively affected by favorable sales mix of cabinets and windows, and net selling price increases of north american windows and north american and international plumbing products. net sales for 2016 were negatively affected by lower sales volume of cabinets and lower net selling prices of paints and other coating products. our gross profit margins were 32.2 percent, 34.2 percent and 33.4 percent in 2018, 2017 and 2016, respectively. the 2018 gross profit margin was negatively impacted by an increase in commodity costs, the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler, an increase in other expenses (such as logistics costs and salaries) and unfavorable sales mix. these negative impacts were partially offset by an increase in net selling prices, the benefits associated with cost savings initiatives, and increased sales volume. the 2017 gross profit margin was positively impacted by increased sales volume, a more favorable relationship between net selling prices and commodity costs, and cost savings initiatives. selling, general and administrative expenses as a percent of sales were 17.7 percent in 2018 compared with 18.6 percent in 2017 and 18.7 percent in 2016. the decrease in selling, general and administrative expenses, as a percentage of sales, was driven by leverage of fixed expenses, due primarily to increased sales volume, and improved cost control. the following table reconciles reported operating profit to operating profit, as adjusted to exclude certain items, dollars in millions:.
- | 2018 | 2017 | 2016
operating profit as reported | $1211 | $1194 | $1087
rationalization charges | 14 | 4 | 22
kichler inventory step up adjustment | 40 | 2014 | 2014
operating profit as adjusted | $1265 | $1198 | $1109
operating profit margins as reported | 14.5% (14.5%) | 15.6% (15.6%) | 14.8% (14.8%)
operating profit margins as adjusted | 15.1% (15.1%) | 15.7% (15.7%) | 15.1% (15.1%)
operating profit margin in 2018 was negatively affected by an increase in commodity costs, the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler and an increase in other expenses (such as logistics costs, salaries and erp costs). these negative impacts were partially offset by increased net selling prices, benefits associated with cost savings initiatives and increased sales volume. operating profit margin in 2017 was positively impacted by increased sales volume, cost savings initiatives, and a more favorable relationship between net selling prices and commodity costs. operating profit margin in 2017 was negatively impacted by an increase in strategic growth investments and certain other expenses, including stock-based compensation, health insurance costs, trade show costs and increased head count. due to the recently-announced increase in tariffs on imported materials from china, and assuming tariffs rise to 25 percent in 2019, we could be exposed to approximately $150 million of potential annual direct cost increases. we will work to mitigate the impact of these tariffs through a combination of price increases, supplier negotiations, supply chain repositioning and other internal productivity measures. other income (expense), net other, net, for 2018 included $14 million of net periodic pension and post-retirement benefit cost and $8 million of realized foreign currency losses. these expenses were partially offset by $3 million of earnings related to equity method investments and $1 million related to distributions from private equity funds. other, net, for 2017 included $26 million related to periodic pension and post-retirement benefit costs, $13 million net loss related to the divestitures of moores and arrow and $2 million related to the impairment of a private equity fund, partially offset by $3 million related to distributions from private equity funds and $1 million of earnings related to equity method investments..
what was the operating profit margin as adjusted in 2017?
|
0.157
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
part ii item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities. the company 2019s common stock is listed on the new york stock exchange. prior to the separation of alcoa corporation from the company, the company 2019s common stock traded under the symbol 201caa. 201d in connection with the separation, on november 1, 2016, the company changed its stock symbol and its common stock began trading under the symbol 201carnc. 201d on october 5, 2016, the company 2019s common shareholders approved a 1-for-3 reverse stock split of the company 2019s outstanding and authorized shares of common stock (the 201creverse stock split 201d). as a result of the reverse stock split, every 3 shares of issued and outstanding common stock were combined into one issued and outstanding share of common stock, without any change in the par value per share. the reverse stock split reduced the number of shares of common stock outstanding from approximately 1.3 billion shares to approximately 0.4 billion shares, and proportionately decreased the number of authorized shares of common stock from 1.8 billion to 0.6 billion shares. the company 2019s common stock began trading on a reverse stock split-adjusted basis on october 6, 2016. on november 1, 2016, the company completed the separation of its business into two independent, publicly traded companies: the company and alcoa corporation. the separation was effected by means of a pro rata distribution by the company of 80.1% (80.1%) of the outstanding shares of alcoa corporation common stock to the company 2019s shareholders. the company 2019s shareholders of record as of the close of business on october 20, 2016 (the 201crecord date 201d) received one share of alcoa corporation common stock for every three shares of the company 2019s common stock held as of the record date. the company retained 19.9% (19.9%) of the outstanding common stock of alcoa corporation immediately following the separation. the following table sets forth, for the periods indicated, the high and low sales prices and quarterly dividend amounts per share of the company 2019s common stock as reported on the new york stock exchange, adjusted to take into account the reverse stock split effected on october 6, 2016. the prices listed below for the fourth quarter of 2016 do not reflect any adjustment for the impact of the separation of alcoa corporation from the company on november 1, 2016, and therefore are not comparable to pre-separation prices from earlier periods..
quarter | 2016 high | 2016 low | 2016 dividend | 2016 high | 2016 low | dividend
first | $30.66 | $18.42 | $0.09 | $51.30 | $37.95 | $0.09
second | 34.50 | 26.34 | 0.09 | 42.87 | 33.45 | 0.09
third | 32.91 | 27.09 | 0.09 | 33.69 | 23.91 | 0.09
fourth (separation occurred on november 1 2016) | 32.10 | 16.75 | 0.09 | 33.54 | 23.43 | 0.09
year | $34.50 | $16.75 | $0.36 | $51.30 | $23.43 | $0.36
the number of holders of record of common stock was approximately 12885 as of february 23, 2017..
what was the high sales price in the second quarter of 2016? 34.5
what was the high price in the first quarter?
|
30.66
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
part ii item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities. the company 2019s common stock is listed on the new york stock exchange. prior to the separation of alcoa corporation from the company, the company 2019s common stock traded under the symbol 201caa. 201d in connection with the separation, on november 1, 2016, the company changed its stock symbol and its common stock began trading under the symbol 201carnc. 201d on october 5, 2016, the company 2019s common shareholders approved a 1-for-3 reverse stock split of the company 2019s outstanding and authorized shares of common stock (the 201creverse stock split 201d). as a result of the reverse stock split, every three shares of issued and outstanding common stock were combined into one issued and outstanding share of common stock, without any change in the par value per share. the reverse stock split reduced the number of shares of common stock outstanding from approximately 1.3 billion shares to approximately 0.4 billion shares, and proportionately decreased the number of authorized shares of common stock from 1.8 billion to 0.6 billion shares. the company 2019s common stock began trading on a reverse stock split-adjusted basis on october 6, 2016. on november 1, 2016, the company completed the separation of its business into two independent, publicly traded companies: the company and alcoa corporation. the separation was effected by means of a pro rata distribution by the company of 80.1% (80.1%) of the outstanding shares of alcoa corporation common stock to the company 2019s shareholders. the company 2019s shareholders of record as of the close of business on october 20, 2016 (the 201crecord date 201d) received one share of alcoa corporation common stock for every three shares of the company 2019s common stock held as of the record date. the company retained 19.9% (19.9%) of the outstanding common stock of alcoa corporation immediately following the separation. see disposition of retained shares in note c to the consolidated financial statements in part ii item 8 of this form 10-k. the following table sets forth, for the periods indicated, the high and low sales prices and quarterly dividend amounts per share of the company 2019s common stock as reported on the new york stock exchange, adjusted to take into account the reverse stock split effected on october 6, 2016. the prices listed below for those dates prior to november 1, 2016 reflect stock trading prices of alcoa inc. prior to the separation of alcoa corporation from the company on november 1, 2016, and therefore are not comparable to the company 2019s post-separation prices..
quarter | 2017 high | 2017 low | 2017 dividend | 2017 high | 2017 low | dividend
first | $30.69 | $18.64 | $0.06 | $30.66 | $18.42 | $0.09
second | 28.65 | 21.76 | 0.06 | 34.50 | 26.34 | 0.09
third | 26.84 | 22.67 | 0.06 | 32.91 | 27.09 | 0.09
fourth (separation occurred on november 1 2016) | 27.85 | 22.74 | 0.06 | 32.10 | 16.75 | 0.09
year | $30.69 | $18.64 | $0.24 | $34.50 | $16.75 | $0.36
the number of holders of record of common stock was approximately 12271 as of february 16, 2018..
what is the highest stock price in the second quarter of 2017?
|
28.65
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
in 2006, our board of directors approved a projected $3.2 billion expansion of our garyville, louisiana refinery by 180 mbpd to 425 mbpd, which will increase our total refining capacity to 1.154 million barrels per day (2018 2018mmbpd 2019 2019). we recently received air permit approval from the louisiana department of environmental quality for this project and construction is expected to begin in mid-2007, with startup planned for the fourth quarter of 2009. we have also commenced front-end engineering and design (2018 2018feed 2019 2019) for a potential heavy oil upgrading project at our detroit refinery, which would allow us to process increased volumes of canadian oil sands production, and are undertaking a feasibility study for a similar upgrading project at our catlettsburg refinery. marketing we are a supplier of gasoline and distillates to resellers and consumers within our market area in the midwest, the upper great plains and southeastern united states. in 2006, our refined product sales volumes (excluding matching buy/sell transactions) totaled 21.5 billion gallons, or 1.401 mmbpd. the average sales price of our refined products in aggregate was $77.76 per barrel for 2006. the following table sets forth our refined product sales by product group and our average sales price for each of the last three years. refined product sales (thousands of barrels per day) 2006 2005 2004.
(thousands of barrels per day) | 2006 | 2005 | 2004
gasoline | 804 | 836 | 807
distillates | 375 | 385 | 373
propane | 23 | 22 | 22
feedstocks and special products | 106 | 96 | 92
heavy fuel oil | 26 | 29 | 27
asphalt | 91 | 87 | 79
total (a) | 1425 | 1455 | 1400
average sales price ($per barrel) | $77.76 | $66.42 | $49.53
(a) includes matching buy/sell volumes of 24 mbpd, 77 mbpd and 71 mbpd in 2006, 2005 and 2004. on april 1, 2006, we changed our accounting for matching buy/sell arrangements as a result of a new accounting standard. this change resulted in lower refined product sales volumes for the remainder of 2006 than would have been reported under the previous accounting practices. see note 2 to the consolidated financial statements. the wholesale distribution of petroleum products to private brand marketers and to large commercial and industrial consumers and sales in the spot market accounted for 71 percent of our refined product sales volumes in 2006. we sold 52 percent of our gasoline volumes and 89 percent of our distillates volumes on a wholesale or spot market basis. half of our propane is sold into the home heating market, with the balance being purchased by industrial consumers. propylene, cumene, aromatics, aliphatics, and sulfur are domestically marketed to customers in the chemical industry. base lube oils, maleic anhydride, slack wax, extract and pitch are sold throughout the united states and canada, with pitch products also being exported worldwide. we market asphalt through owned and leased terminals throughout the midwest, the upper great plains and southeastern united states. our customer base includes approximately 800 asphalt-paving contractors, government entities (states, counties, cities and townships) and asphalt roofing shingle manufacturers. we blended 35 mbpd of ethanol into gasoline in 2006. in 2005 and 2004, we blended 35 mbpd and 30 mbpd of ethanol. the expansion or contraction of our ethanol blending program will be driven by the economics of the ethanol supply and changes in government regulations. we sell reformulated gasoline in parts of our marketing territory, primarily chicago, illinois; louisville, kentucky; northern kentucky; and milwaukee, wisconsin, and we sell low-vapor-pressure gasoline in nine states. as of december 31, 2006, we supplied petroleum products to about 4200 marathon branded retail outlets located primarily in ohio, michigan, indiana, kentucky and illinois. branded retail outlets are also located in florida, georgia, minnesota, wisconsin, west virginia, tennessee, virginia, north carolina, pennsylvania, alabama and south carolina. sales to marathon brand jobbers and dealers accounted for 14 percent of our refined product sales volumes in 2006. ssa sells gasoline and diesel fuel through company-operated retail outlets. sales of refined products through these ssa retail outlets accounted for 15 percent of our refined product sales volumes in 2006. as of december 31, 2006, ssa had 1636 retail outlets in nine states that sold petroleum products and convenience store merchandise and services, primarily under the brand names 2018 2018speedway 2019 2019 and 2018 2018superamerica. 2019 2019 ssa 2019s revenues from the sale of non-petroleum merchandise totaled $2.7 billion in 2006, compared with $2.5 billion in 2005. profit levels from the sale.
what is the buy/sell volume in 2006? 24.0
what is the value in 2005? 77.0
what is the sum of those two years? 101.0
what is the total sum including the 2004 value?
|
172.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
devon energy corporation and subsidiaries notes to consolidated financial statements 2013 (continued) asset divestitures in conjunction with the asset divestitures in 2013 and 2014, devon removed $26 million and $706 million of goodwill, respectively, which were allocated to these assets. impairment devon 2019s canadian goodwill was originally recognized in 2001 as a result of a business combination consisting almost entirely of conventional gas assets that devon no longer owns. as a result of performing the goodwill impairment test described in note 1, devon concluded the implied fair value of its canadian goodwill was zero as of december 31, 2014. this conclusion was largely based on the significant decline in benchmark oil prices, particularly after opec 2019s decision not to reduce its production targets that was announced in late november 2014. consequently, in the fourth quarter of 2014, devon wrote off its remaining canadian goodwill and recognized a $1.9 billion impairment. other intangible assets as of december 31, 2014, intangible assets associated with customer relationships had a gross carrying amount of $569 million and $36 million of accumulated amortization. the weighted-average amortization period for the customer relationships is 13.7 years. amortization expense for intangibles was approximately $36 million for the year ended december 31, 2014. other intangible assets are reported in other long-term assets in the accompanying consolidated balance sheets. the following table summarizes the estimated aggregate amortization expense for the next five years. year amortization amount (in millions).
year | amortization amount (in millions)
2015 | $45
2016 | $45
2017 | $45
2018 | $45
2019 | $44
.
how much does the total of intangibles represent in relation to the total amortization in 2014? 0.8
and how much is that in percentage?
|
80.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
entergy texas, inc. management's financial discussion and analysis fuel and purchased power expenses increased primarily due to an increase in power purchases as a result of the purchased power agreements between entergy gulf states louisiana and entergy texas and an increase in the average market prices of purchased power and natural gas, substantially offset by a decrease in deferred fuel expense as a result of decreased recovery from customers of fuel costs. other regulatory charges increased primarily due to an increase of $6.9 million in the recovery of bond expenses related to the securitization bonds. the recovery became effective july 2007. see note 5 to the financial statements for additional information regarding the securitization bonds. 2007 compared to 2006 net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges. following is an analysis of the change in net revenue comparing 2007 to 2006. amount (in millions).
- | amount (in millions)
2006 net revenue | $403.3
purchased power capacity | 13.1
securitization transition charge | 9.9
volume/weather | 9.7
transmission revenue | 6.1
base revenue | 2.6
other | -2.4 (2.4)
2007 net revenue | $442.3
the purchased power capacity variance is due to changes in the purchased power capacity costs included in the calculation in 2007 compared to 2006 used to bill generation costs between entergy texas and entergy gulf states louisiana. the securitization transition charge variance is due to the issuance of securitization bonds. as discussed above, in june 2007, egsrf i, a company wholly-owned and consolidated by entergy texas, issued securitization bonds and with the proceeds purchased from entergy texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. see note 5 to the financial statements herein for details of the securitization bond issuance. the volume/weather variance is due to increased electricity usage on billed retail sales, including the effects of more favorable weather in 2007 compared to the same period in 2006. the increase is also due to an increase in usage during the unbilled sales period. retail electricity usage increased a total of 139 gwh in all sectors. see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues. the transmission revenue variance is due to an increase in rates effective june 2007 and new transmission customers in late 2006. the base revenue variance is due to the transition to competition rider that began in march 2006. refer to note 2 to the financial statements for further discussion of the rate increase. gross operating revenues, fuel and purchased power expenses, and other regulatory charges gross operating revenues decreased primarily due to a decrease of $179 million in fuel cost recovery revenues due to lower fuel rates and fuel refunds. the decrease was partially offset by the $39 million increase in net revenue described above and an increase of $44 million in wholesale revenues, including $30 million from the system agreement cost equalization payments from entergy arkansas. the receipt of such payments is being.
what was the net revenue for entergy texas, inc. in 2007? 442.3
and what was it in 2006? 403.3
what was, then, the change over the year? 39.0
what was the net revenue for entergy texas, inc. in 2006?
|
403.3
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
when we purchase an asset, we capitalize all costs necessary to make the asset ready for its intended use. however, many of our assets are self-constructed. a large portion of our capital expenditures is for track structure expansion (capacity projects) and replacement (program projects), which is typically performed by our employees. approximately 13% (13%) of our full-time equivalent employees are dedicated to the construction of capital assets. costs that are directly attributable or overhead costs that relate directly to capital projects are capitalized. direct costs that are capitalized as part of self-constructed assets include material, labor, and work equipment. indirect costs are capitalized if they clearly relate to the construction of the asset. these costs are allocated using appropriate statistical bases. the capitalization of indirect costs is consistent with fasb statement no. 67, accounting for costs and initial rental operations of real estate projects. general and administrative expenditures are expensed as incurred. normal repairs and maintenance are also expensed as incurred, while costs incurred that extend the useful life of an asset, improve the safety of our operations or improve operating efficiency are capitalized. assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease. amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease. 10. accounts payable and other current liabilities dec. 31, dec. 31, millions of dollars 2008 2007.
millions of dollars | dec. 31 2008 | dec. 31 2007
accounts payable | $629 | $732
accrued wages and vacation | 367 | 394
accrued casualty costs | 390 | 371
income and other taxes | 207 | 343
dividends and interest | 328 | 284
equipment rents payable | 93 | 103
other | 546 | 675
total accounts payable and other current liabilities | $2560 | $2902
11. fair value measurements during the first quarter of 2008, we fully adopted fasb statement no. 157, fair value measurements (fas 157). fas 157 established a framework for measuring fair value and expanded disclosures about fair value measurements. the adoption of fas 157 had no impact on our financial position or results of operations. fas 157 applies to all assets and liabilities that are measured and reported on a fair value basis. this enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. the statement requires that each asset and liability carried at fair value be classified into one of the following categories: level 1: quoted market prices in active markets for identical assets or liabilities. level 2: observable market based inputs or unobservable inputs that are corroborated by market data. level 3: unobservable inputs that are not corroborated by market data..
what was the equipment rents payable in 2008? 93.0
and in 2007? 103.0
so what was the difference between the two years? -10.0
and the value for 2007 again?
|
103.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
risk and insurance brokerage services.
years ended december 31, | 2009 | 2008 | 2007
segment revenue | $6305 | $6197 | $5918
segment operating income | 900 | 846 | 954
segment operating income margin | 14.3% (14.3%) | 13.7% (13.7%) | 16.1% (16.1%)
during 2009 we continued to see a soft market, which began in 2007, in our retail brokerage product line. in 2007, we experienced a soft market in many business lines and in many geographic areas. in a 2018 2018soft market, 2019 2019 premium rates flatten or decrease, along with commission revenues, due to increased competition for market share among insurance carriers or increased underwriting capacity. changes in premiums have a direct and potentially material impact on the insurance brokerage industry, as commission revenues are generally based on a percentage of the premiums paid by insureds. prices fell throughout 2007, with the greatest declines seen in large and middle-market accounts. prices continued to decline during 2008, although the rate of decline slowed toward the end of the year. in our reinsurance brokerage product line, pricing overall during 2009 was also down, although during a portion of the year it was flat to up slightly. additionally, beginning in late 2008 and continuing throughout 2009, we faced difficult conditions as a result of unprecedented disruptions in the global economy, the repricing of credit risk and the deterioration of the financial markets. continued volatility and further deterioration in the credit markets have reduced our customers 2019 demand for our retail brokerage and reinsurance brokerage products, which have negatively hurt our operational results. in addition, overall capacity in the industry could decrease if a significant insurer either fails or withdraws from writing insurance coverages that we offer our clients. this failure could reduce our revenues and profitability, since we would no longer have access to certain lines and types of insurance. risk and insurance brokerage services generated approximately 83% (83%) of our consolidated total revenues in 2009. revenues are generated primarily through fees paid by clients, commissions and fees paid by insurance and reinsurance companies, and investment income on funds held on behalf of clients. our revenues vary from quarter to quarter throughout the year as a result of the timing of our clients 2019 policy renewals, the net effect of new and lost business, the timing of services provided to our clients, and the income we earn on investments, which is heavily influenced by short-term interest rates. we operate in a highly competitive industry and compete with many retail insurance brokerage and agency firms, as well as with individual brokers, agents, and direct writers of insurance coverage. specifically, we address the highly specialized product development and risk management needs of commercial enterprises, professional groups, insurance companies, governments, healthcare providers, and non-profit groups, among others; provide affinity products for professional liability, life, disability income, and personal lines for individuals, associations, and businesses; provide reinsurance services to insurance and reinsurance companies and other risk assumption entities by acting as brokers or intermediaries on all classes of reinsurance; provide investment banking products and services, including mergers and acquisitions and other financial advisory services, capital raising, contingent capital financing, insurance-linked securitizations and derivative applications; provide managing underwriting to independent agents and brokers as well as corporate clients; provide actuarial, loss prevention, and administrative services to businesses and consumers; and manage captive insurance companies. in november 2008 we expanded our product offerings through the merger with benfield, a leading independent reinsurance intermediary. benfield products have been integrated with our existing reinsurance products in 2009. in february 2009, we completed the sale of the u.s. operations of cananwill, our premium finance business. in june and july of 2009, we entered into agreements with third parties with respect to our.
what was the total of risk and insurance brokerage services segment revenue in 2009? 6305.0
and what was that in 2008?
|
6197.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
net revenues include $3.8 billion in 2017 and $739 million in 2016 related to the sale of rrps, mainly driven by japan. these net revenue amounts include excise taxes billed to customers. excluding excise taxes, net revenues for rrps were $3.6 billion in 2017 and $733 million in 2016. in some jurisdictions, including japan, we are not responsible for collecting excise taxes. in 2017, approximately $0.9 billion of our $3.6 billion in rrp net revenues, excluding excise taxes, were from iqos devices and accessories. excise taxes on products increased by $1.1 billion, due to: 2022 higher excise taxes resulting from changes in retail prices and tax rates ($4.6 billion), partially offset by 2022 favorable currency ($1.9 billion) and 2022 lower excise taxes resulting from volume/mix ($1.6 billion). our cost of sales; marketing, administration and research costs; and operating income were as follows: for the years ended december 31, variance.
(in millions) | for the years ended december 31, 2017 | for the years ended december 31, 2016 | for the years ended december 31, $|% (%)
cost of sales | $10432 | $9391 | $1041 | 11.1% (11.1%)
marketing administration and research costs | 6725 | 6405 | 320 | 5.0% (5.0%)
operating income | 11503 | 10815 | 688 | 6.4% (6.4%)
cost of sales increased by $1.0 billion, due to: 2022 higher cost of sales resulting from volume/mix ($1.1 billion), partly offset by 2022 lower manufacturing costs ($36 million) and 2022 favorable currency ($30 million). marketing, administration and research costs increased by $320 million, due to: 2022 higher expenses ($570 million, largely reflecting increased investment behind reduced-risk products, predominately in the european union and asia), partly offset by 2022 favorable currency ($250 million). operating income increased by $688 million, due primarily to: 2022 price increases ($1.4 billion), partly offset by 2022 higher marketing, administration and research costs ($570 million) and 2022 unfavorable currency ($157 million). interest expense, net, of $914 million increased by $23 million, due primarily to unfavorably currency and higher average debt levels, partly offset by higher interest income. our effective tax rate increased by 12.8 percentage points to 40.7% (40.7%). the 2017 effective tax rate was unfavorably impacted by $1.6 billion due to the tax cuts and jobs act. for further details, see item 8, note 11. income taxes to our consolidated financial statements. we are continuing to evaluate the impact that the tax cuts and jobs act will have on our tax liability. based upon our current interpretation of the tax cuts and jobs act, we estimate that our 2018 effective tax rate will be approximately 28% (28%), subject to future regulatory developments and earnings mix by taxing jurisdiction. we are regularly examined by tax authorities around the world, and we are currently under examination in a number of jurisdictions. it is reasonably possible that within the next 12 months certain tax examinations will close, which could result in a change in unrecognized tax benefits along with related interest and penalties. an estimate of any possible change cannot be made at this time. net earnings attributable to pmi of $6.0 billion decreased by $932 million (13.4% (13.4%)). this decrease was due primarily to a higher effective tax rate as discussed above, partly offset by higher operating income. diluted and basic eps of $3.88 decreased by 13.4% (13.4%). excluding.
what was, in millions, the operating income in 2017? 11503.0
and what was it in 2016? 10815.0
what was, then, the change over the year, in millions? 688.0
and in the previous year, what was the decline in the net earnings, also in millions? 932.0
what is that as a percentage of the 2015 net earnings?
|
0.134
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the following table presents var with respect to our trading activities, as measured by our var methodology for the periods indicated: value-at-risk.
years ended december 31 (inmillions) | 2008 annual average | 2008 maximum | 2008 minimum | 2008 annual average | 2008 maximum | minimum
foreign exchange products | $1.8 | $4.7 | $.3 | $1.8 | $4.0 | $.7
interest-rate products | 1.1 | 2.4 |.6 | 1.4 | 3.7 |.1
we back-test the estimated one-day var on a daily basis. this information is reviewed and used to confirm that all relevant trading positions are properly modeled. for the years ended december 31, 2008 and 2007, we did not experience any actual trading losses in excess of our end-of-day var estimate. asset and liability management activities the primary objective of asset and liability management is to provide sustainable and growing net interest revenue, or nir, under varying economic environments, while protecting the economic values of our balance sheet assets and liabilities from the adverse effects of changes in interest rates. most of our nir is earned from the investment of deposits generated by our core investment servicing and investment management businesses. we structure our balance sheet assets to generally conform to the characteristics of our balance sheet liabilities, but we manage our overall interest-rate risk position in the context of current and anticipated market conditions and within internally-approved risk guidelines. our overall interest-rate risk position is maintained within a series of policies approved by the board and guidelines established and monitored by alco. our global treasury group has responsibility for managing state street 2019s day-to-day interest-rate risk. to effectively manage the consolidated balance sheet and related nir, global treasury has the authority to take a limited amount of interest-rate risk based on market conditions and its views about the direction of global interest rates over both short-term and long-term time horizons. global treasury manages our exposure to changes in interest rates on a consolidated basis organized into three regional treasury units, north america, europe and asia/pacific, to reflect the growing, global nature of our exposures and to capture the impact of change in regional market environments on our total risk position. our investment activities and our use of derivative financial instruments are the primary tools used in managing interest-rate risk. we invest in financial instruments with currency, repricing, and maturity characteristics we consider appropriate to manage our overall interest-rate risk position. in addition to on-balance sheet assets, we use certain derivatives, primarily interest-rate swaps, to alter the interest-rate characteristics of specific balance sheet assets or liabilities. the use of derivatives is subject to alco-approved guidelines. additional information about our use of derivatives is in note 17 of the notes to consolidated financial statements included in this form 10-k under item 8. as a result of growth in our non-u.s. operations, non-u.s. dollar denominated customer liabilities are a significant portion of our consolidated balance sheet. this growth results in exposure to changes in the shape and level of non-u.s. dollar yield curves, which we include in our consolidated interest-rate risk management process. because no one individual measure can accurately assess all of our exposures to changes in interest rates, we use several quantitative measures in our assessment of current and potential future exposures to changes in interest rates and their impact on net interest revenue and balance sheet values. net interest revenue simulation is the primary tool used in our evaluation of the potential range of possible net interest revenue results that could occur under a variety of interest-rate environments. we also use market valuation and duration analysis to assess changes in the economic value of balance sheet assets and liabilities caused by assumed changes in interest rates. finally, gap analysis 2014the difference between the amount of balance sheet assets and liabilities re-pricing within a specified time period 2014is used as a measurement of our interest-rate risk position..
in the year of 2008, what was the variance of the foreign exchange products in the first section? 4.4
and what was it in the second section?
|
3.3
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the following table shows the impact of catastrophe losses and related reinstatement premiums and the impact of prior period development on our consolidated loss and loss expense ratio for the periods indicated..
- | 2010 | 2009 | 2008
loss and loss expense ratio as reported | 59.2% (59.2%) | 58.8% (58.8%) | 60.6% (60.6%)
catastrophe losses and related reinstatement premiums | (3.2)% (%) | (1.2)% (%) | (4.7)% (%)
prior period development | 4.6% (4.6%) | 4.9% (4.9%) | 6.8% (6.8%)
large assumed loss portfolio transfers | (0.3)% (%) | (0.8)% (%) | 0.0% (0.0%)
loss and loss expense ratio adjusted | 60.3% (60.3%) | 61.7% (61.7%) | 62.7% (62.7%)
we recorded net pre-tax catastrophe losses of $366 million in 2010 compared with net pre-tax catastrophe losses of $137 million and $567 million in 2009 and 2008, respectively. the catastrophe losses for 2010 were primarily related to weather- related events in the u.s., earthquakes in chile, mexico, and new zealand, and storms in australia and europe. the catastrophe losses for 2009 were primarily related to an earthquake in asia, floods in europe, several weather-related events in the u.s., and a european windstorm. for 2008, the catastrophe losses were primarily related to hurricanes gustav and ike. prior period development arises from changes to loss estimates recognized in the current year that relate to loss reserves first reported in previous calendar years and excludes the effect of losses from the development of earned premium from pre- vious accident years. we experienced $503 million of net favorable prior period development in our p&c segments in 2010. this compares with net favorable prior period development in our p&c segments of $576 million and $814 million in 2009 and 2008, respectively. refer to 201cprior period development 201d for more information. the adjusted loss and loss expense ratio declined in 2010, compared with 2009, primarily due to the impact of the crop settlements, non-recurring premium adjustment and the reduction in assumed loss portfolio business, which is written at higher loss ratios than other types of business. our policy acquisition costs include commissions, premium taxes, underwriting, and other costs that vary with, and are primarily related to, the production of premium. administrative expenses include all other operating costs. our policy acquis- ition cost ratio increased in 2010, compared with 2009. the increase was primarily related to the impact of crop settlements, which generated higher profit-share commissions and a lower adjustment to net premiums earned, as well as the impact of reinstatement premiums expensed in connection with catastrophe activity and changes in business mix. our administrative expense ratio increased in 2010, primarily due to the impact of the crop settlements, reinstatement premiums expensed, and increased costs in our international operations. although the crop settlements generate minimal administrative expenses, they resulted in lower adjustment to net premiums earned in 2010, compared with 2009. administrative expenses in 2010, were partially offset by higher net results generated by our third party claims administration business, esis, the results of which are included within our administrative expenses. esis generated $85 million in net results in 2010, compared with $26 million in 2009. the increase is primarily from non-recurring sources. our policy acquisition cost ratio was stable in 2009, compared with 2008, as increases in our combined insurance operations were offset by more favorable final crop year settlement of profit share commissions. administrative expenses increased in 2009, primarily due to the inclusion of administrative expenses related to combined insurance for the full year and costs associated with new product expansion in our domestic retail operation and in our personal lines business. our effective income tax rate, which we calculate as income tax expense divided by income before income tax, is depend- ent upon the mix of earnings from different jurisdictions with various tax rates. a change in the geographic mix of earnings would change the effective income tax rate. our effective income tax rate was 15 percent in 2010, compared with 17 percent and 24 percent in 2009 and 2008, respectively. the decrease in our effective income tax rate in 2010, was primarily due to a change in the mix of earnings to lower tax-paying jurisdictions, a decrease in the amount of unrecognized tax benefits which was the result of a settlement with the u.s. internal revenue service appeals division regarding federal tax returns for the years 2002-2004, and the recognition of a non-taxable gain related to the acquisition of rain and hail. the 2009 year included a reduction of a deferred tax valuation allowance related to investments. for 2008, our effective income tax rate was adversely impacted by a change in mix of earnings due to the impact of catastrophe losses in lower tax-paying jurisdictions. prior period development the favorable prior period development, inclusive of the life segment, of $512 million during 2010 was the net result of sev- eral underlying favorable and adverse movements. with respect to ace 2019s crop business, ace regularly receives reports from its managing general agent (mga) relating to the previous crop year (s) in subsequent calendar quarters and this typically results.
what was the net favorable prior period development in 2010? 503.0
and what was it in 2008? 814.0
what was, then, the change over the years?
|
-311.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
entergy corporation and subsidiaries notes to financial statements (a) consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). (c) pursuant to the nuclear waste policy act of 1982, entergy 2019s nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service. the contracts include a one-time fee for generation prior to april 7, 1983. entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term (d) see note 10 to the financial statements for further discussion of the waterford 3 and grand gulf lease obligations. (e) the fair value excludes lease obligations of $149 million at entergy louisiana and $97 million at system energy, long-term doe obligations of $181 million at entergy arkansas, and the note payable to nypa of $95 million at entergy, and includes debt due within one year. fair values are classified as level 2 in the fair value hierarchy discussed in note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. the annual long-term debt maturities (excluding lease obligations and long-term doe obligations) for debt outstanding as of december 31, 2013, for the next five years are as follows: amount (in thousands).
- | amount (in thousands)
2014 | $385373
2015 | $1110566
2016 | $270852
2017 | $766801
2018 | $1324616
in november 2000, entergy 2019s non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 in 2001 resulted in entergy becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001. in july 2003 a payment of $102 million was made prior to maturity on the note payable to nypa. under a provision in a letter of credit supporting these notes, if certain of the utility operating companies or system energy were to default on other indebtedness, entergy could be required to post collateral to support the letter of credit. entergy gulf states louisiana, entergy louisiana, entergy mississippi, entergy texas, and system energy have obtained long-term financing authorizations from the ferc that extend through october 2015. entergy arkansas has obtained long-term financing authorization from the apsc that extends through december 2015. entergy new orleans has obtained long-term financing authorization from the city council that extends through july 2014. capital funds agreement pursuant to an agreement with certain creditors, entergy corporation has agreed to supply system energy with sufficient capital to: 2022 maintain system energy 2019s equity capital at a minimum of 35% (35%) of its total capitalization (excluding short- term debt);.
what are the annual long-term obligations in 2014? 385373.0
what is that divided by 1000? 385.373
what are lease obligation at entergy lousiana?
|
149.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
dish network corporation notes to consolidated financial statements - continued 9. acquisitions dbsd north america and terrestar transactions on march 2, 2012, the fcc approved the transfer of 40 mhz of aws-4 wireless spectrum licenses held by dbsd north america and terrestar to us. on march 9, 2012, we completed the dbsd transaction and the terrestar transaction, pursuant to which we acquired, among other things, certain satellite assets and wireless spectrum licenses held by dbsd north america and terrestar. in addition, during the fourth quarter 2011, we and sprint entered into a mutual release and settlement agreement (the 201csprint settlement agreement 201d) pursuant to which all issues then being disputed relating to the dbsd transaction and the terrestar transaction were resolved between us and sprint, including, but not limited to, issues relating to costs allegedly incurred by sprint to relocate users from the spectrum then licensed to dbsd north america and terrestar. the total consideration to acquire the dbsd north america and terrestar assets was approximately $2.860 billion. this amount includes $1.364 billion for the dbsd transaction, $1.382 billion for the terrestar transaction, and the net payment of $114 million to sprint pursuant to the sprint settlement agreement. see note 16 for further information. as a result of these acquisitions, we recognized the acquired assets and assumed liabilities based on our estimates of fair value at their acquisition date, including $102 million in an uncertain tax position in 201clong-term deferred revenue, distribution and carriage payments and other long-term liabilities 201d on our consolidated balance sheets. subsequently, in the third quarter 2013, this uncertain tax position was resolved and $102 million was reversed and recorded as a decrease in 201cincome tax (provision) benefit, net 201d on our consolidated statements of operations and comprehensive income (loss) for the year ended december 31, 2013. 10. discontinued operations as of december 31, 2013, blockbuster had ceased all material operations. accordingly, our consolidated balance sheets, consolidated statements of operations and comprehensive income (loss) and consolidated statements of cash flows have been recast to present blockbuster as discontinued operations for all periods presented and the amounts presented in the notes to our consolidated financial statements relate only to our continuing operations, unless otherwise noted. during the years ended december 31, 2013, 2012 and 2011, the revenue from our discontinued operations was $503 million, $1.085 billion and $974 million, respectively. 201cincome (loss) from discontinued operations, before income taxes 201d for the same periods was a loss of $54 million, $62 million and $3 million, respectively. in addition, 201cincome (loss) from discontinued operations, net of tax 201d for the same periods was a loss of $47 million, $37 million and $7 million, respectively. as of december 31, 2013, the net assets from our discontinued operations consisted of the following: december 31, 2013 (in thousands).
- | as of december 31 2013 (in thousands)
current assets from discontinued operations | $68239
noncurrent assets from discontinued operations | 9965
current liabilities from discontinued operations | -49471 (49471)
long-term liabilities from discontinued operations | -19804 (19804)
net assets from discontinued operations | $8929
.
what was the average revenue from discontinued operations in 2013?
|
503.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
table of contents adobe inc. notes to consolidated financial statements (continued) certain states and foreign jurisdictions to fully utilize available tax credits and other attributes. the deferred tax assets are offset by a valuation allowance to the extent it is more likely than not that they are not expected to be realized. we provide u.s. income taxes on the earnings of foreign subsidiaries unless the subsidiaries 2019 earnings are considered permanently reinvested outside the united states or are exempted from taxation as a result of the new territorial tax system. to the extent that the foreign earnings previously treated as permanently reinvested are repatriated, the related u.s. tax liability may be reduced by any foreign income taxes paid on these earnings. as of november 30, 2018, the cumulative amount of earnings upon which u.s. income taxes have not been provided is approximately $275 million. the unrecognized deferred tax liability for these earnings is approximately $57.8 million. as of november 30, 2018, we have net operating loss carryforwards of approximately $881.1 million for federal and $349.7 million for state. we also have federal, state and foreign tax credit carryforwards of approximately $8.8 million, $189.9 million and $14.9 million, respectively. the net operating loss carryforward assets and tax credits will expire in various years from fiscal 2019 through 2036. the state tax credit carryforwards and a portion of the federal net operating loss carryforwards can be carried forward indefinitely. the net operating loss carryforward assets and certain credits are reduced by the valuation allowance and are subject to an annual limitation under internal revenue code section 382, the carrying amount of which are expected to be fully realized. as of november 30, 2018, a valuation allowance of $174.5 million has been established for certain deferred tax assets related to certain state and foreign assets. for fiscal 2018, the total change in the valuation allowance was $80.9 million. accounting for uncertainty in income taxes during fiscal 2018 and 2017, our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows (in thousands):.
- | 2018 | 2017
beginning balance | $172945 | $178413
gross increases in unrecognized tax benefits 2013 prior year tax positions | 16191 | 3680
gross decreases in unrecognized tax benefits 2013 prior year tax positions | -4000 (4000) | -30166 (30166)
gross increases in unrecognized tax benefits 2013 current year tax positions | 60721 | 24927
settlements with taxing authorities | 2014 | -3876 (3876)
lapse of statute of limitations | -45922 (45922) | -8819 (8819)
foreign exchange gains and losses | -3783 (3783) | 8786
ending balance | $196152 | $172945
the combined amount of accrued interest and penalties related to tax positions taken on our tax returns were approximately $24.6 million and $23.6 million for fiscal 2018 and 2017, respectively. these amounts were included in long-term income taxes payable in their respective years. we file income tax returns in the united states on a federal basis and in many u.s. state and foreign jurisdictions. we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities. our major tax jurisdictions are ireland, california and the united states. for ireland, california and the united states, the earliest fiscal years open for examination are 2008, 2014 and 2015, respectively. we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from these examinations. we believe such estimates to be reasonable; however, there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position. the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process. these events could cause large fluctuations in the balance of short-term and long- term assets, liabilities and income taxes payable. we believe that within the next 12 months, it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire, or both. given the uncertainties described above, we can only determine a range of estimated potential effect in underlying unrecognized tax benefits ranging from $0 to approximately $45 million..
what was the total gross amount of unrecognized tax benefits in 2018? 196152.0
what was the value in 2017? 172945.0
what is the net change? 23207.0
what is the percent change?
|
0.13419
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
our ability to restructure or refinance our debt will depend on the condition of the capital markets and our financial condition at such time. any refinancing of our debt could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations. in addition, any failure to make payments of interest and principal on our outstanding indebtedness on a timely basis would likely result in a reduction of our credit rating, which could harm our ability to incur additional indebtedness. if our cash flows and available cash are insufficient to meet our debt service obligations, we could face substantial liquidity problems and might be required to dispose of material assets or operations to meet our debt service and other obligations. we may not be able to consummate those dispositions or to obtain the proceeds that we could realize from them, and these proceeds may not be adequate to meet any debt service obligations then due. item 1b. unresolved staff comments item 2. properties a summary of our significant locations at december 31, 2013 is shown in the following table. all facilities are leased, except for 165000 square feet of our office in alpharetta, georgia. square footage amounts are net of space that has been sublet or part of a facility restructuring..
location | approximate square footage
alpharetta georgia | 254000
jersey city new jersey | 107000
arlington virginia | 102000
sandy utah | 66000
menlo park california | 63000
new york new york | 39000
chicago illinois (1) | 36000
chicago, illinois (1) 36000 (1) includes approximately 25000 square footage related to g1 execution services, llc. we entered into a definitive agreement to sell g1 execution services, llc to an affiliate of susquehanna. the lease was assigned to susquehanna upon closing of the sale on february 10, all of our facilities are used by either our trading and investing or balance sheet management segments, in addition to the corporate/other category. all other leased facilities with space of less than 25000 square feet are not listed by location. in addition to the significant facilities above, we also lease all 30 e*trade branches, ranging in space from approximately 2500 to 8000 square feet. we believe our facilities space is adequate to meet our needs in 2014. item 3. legal proceedings on october 27, 2000, ajaxo, inc. (201cajaxo 201d) filed a complaint in the superior court for the state of california, county of santa clara. ajaxo sought damages and certain non-monetary relief for the company 2019s alleged breach of a non-disclosure agreement with ajaxo pertaining to certain wireless technology that ajaxo offered the company as well as damages and other relief against the company for their alleged misappropriation of ajaxo 2019s trade secrets. following a jury trial, a judgment was entered in 2003 in favor of ajaxo against the company for $1.3 million for breach of the ajaxo non-disclosure agreement. although the jury found in favor of ajaxo on its claim against the company for misappropriation of trade secrets, the trial court subsequently denied ajaxo 2019s requests for additional damages and relief. on december 21, 2005, the california court of appeal affirmed the above-described award against the company for breach of the nondisclosure agreement but remanded the case to the trial court for the limited purpose of determining what, if any, additional damages ajaxo may be entitled to as a result of the jury 2019s previous finding in favor of ajaxo on its claim against the company for misappropriation of trade secrets. although the company paid ajaxo the full amount due on the above-described judgment, the case was remanded back to the trial court, and on may 30, 2008, a jury returned a.
what was the percentage of sq ft of the office in alpharette, georgia not leased as of 12/31/13?
|
0.64961
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
alexion pharmaceuticals, inc. notes to consolidated financial statements 2014 (continued) for the years ended december 31, 2007 and 2006, five month period ended december 31, 2005, and year ended july 31, 2005 (amounts in thousands, except share and per share amounts) aggregate future minimum annual rental payments for the next five years and thereafter under non-cancellable operating leases (including facilities and equipment) as of december 31, 2007 are:.
2008 | $4935
2009 | 3144
2010 | 3160
2011 | 3200
2012 | 2768
thereafter | 9934
9. commitments and contingencies legal proceedings on march 16, 2007, pdl biopharma, inc., or pdl, filed a civil action against alexion in the u.s. district court for the district of delaware. pdl claims willful infringement by alexion of pdl patents due to sales of soliris. pdl seeks unspecified damages, but no less than a reasonable royalty, plus attorney 2019s fees. alexion has denied pdl's claims. in addition, we filed counterclaims seeking declarations of non-infringement and invalidity of certain u.s. patents held by pdl. alexion believes it has good and valid defenses to pdl's claims and intends to vigorously defend the case and pursue its counterclaims. on february 4, 2008, sb2, inc. filed a civil action against alexion in the united states district court for the northern district of california. sb2, inc. claims willfull infringement by alexion of sb2, inc. patents due to sales of soliris. sb2, inc. seeks unspecified monetary damages, equitable relief and attorneys fees. alexion believes it has good and valid defenses to sb2's claims and intends to vigorously defend the case and pursue its counterclaims. the results of such civil actions cannot be predicted with certainty due to their early stages. however, depending on the outcome of these legal matters, the operating results of the company could be materially impacted through adjustments to cost of sales (see notes 2, 6 and 15 for additional information related to royalties). product supply the large-scale product supply agreement dated december 18, 2002, or the lonza agreement, between lonza sales ag, or lonza, and us, relating to the manufacture of soliris, was amended in june 2007. we amended our supply agreement to provide for additional purchase commitments of soliris of $30000 to $35000 through 2013. such commitments may only be cancelled in limited circumstances..
what was the minimum annual rental payment in 2011? 3200.0
what was it in 2010? 3160.0
what is the difference? 40.0
what is the percent change?
|
0.01266
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
table of contents tceq and harris county pollution control services department (hcpcs) (houston terminal). we have an outstanding noe from the tceq and an outstanding vn from the hcpcs alleging excess emissions from tank 003 that occurred during hurricane harvey. we are working with the pertinent authorities to resolve these matters. item 4. mine safety disclosures part ii item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities our common stock trades on the nyse under the trading symbol 201cvlo. 201d as of january 31, 2019, there were 5271 holders of record of our common stock. dividends are considered quarterly by the board of directors, may be paid only when approved by the board, and will depend on our financial condition, results of operations, cash flows, prospects, industry conditions, capital requirements, and other factors and restrictions our board deems relevant. there can be no assurance that we will pay a dividend at the rates we have paid historically, or at all, in the future. the following table discloses purchases of shares of our common stock made by us or on our behalf during the fourth quarter of 2018. period total number of shares purchased average price paid per share total number of shares not purchased as part of publicly announced plans or programs (a) 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 (b).
period | total numberof sharespurchased | averageprice paidper share | total number ofshares notpurchased as part ofpublicly announcedplans or programs (a) | total number ofshares purchased aspart of publiclyannounced plans orprograms | approximate dollarvalue of shares thatmay yet be purchasedunder the plans orprograms (b)
october 2018 | 939957 | $87.23 | 8826 | 931131 | $2.7 billion
november 2018 | 3655945 | $87.39 | 216469 | 3439476 | $2.4 billion
december 2018 | 3077364 | $73.43 | 4522 | 3072842 | $2.2 billion
total | 7673266 | $81.77 | 229817 | 7443449 | $2.2 billion
(a) the shares reported in this column represent purchases settled in the fourth quarter of 2018 relating to (i) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans and (ii) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options, the vesting of restricted stock, and other stock compensation transactions in accordance with the terms of our stock-based compensation plans. (b) on january 23, 2018, we announced that our board of directors authorized our purchase of up to $2.5 billion of our outstanding common stock (the 2018 program), with no expiration date, which was in addition to the remaining amount available under a $2.5 billion program authorized on september 21, 2016 (the 2016 program). during the fourth quarter of 2018, we completed our purchases under the 2016 program. as of december 31, 2018, we had $2.2 billion remaining available for purchase under the 2018 program..
what was the total number of shares purchased in november for the q4 ended 12/31/18? 0.47645
as of 12/18, what was the percentage of the 2018 program still outstanding?
|
0.88
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the goldman sachs group, inc. and subsidiaries notes to consolidated financial statements in the tables above: 2030 the gross fair values exclude the effects of both counterparty netting and collateral netting, and therefore are not representative of the firm 2019s exposure. 2030 counterparty netting is reflected in each level to the extent that receivable and payable balances are netted within the same level and is included in counterparty netting in levels. where the counterparty netting is across levels, the netting is included in cross-level counterparty netting. 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts. significant unobservable inputs the table below presents the amount of level 3 assets (liabilities), and ranges, averages and medians of significant unobservable inputs used to value the firm 2019s level 3 derivatives. level 3 assets (liabilities) and range of significant unobservable inputs (average/median) as of december $in millions 2017 2016.
$in millions | level 3 assets (liabilities) and range of significant unobservable inputs (average/median) as of december 2017 | level 3 assets (liabilities) and range of significant unobservable inputs (average/median) as of december 2016
interest rates net | $-410 (410) | $-381 (381)
correlation | (10)% (%) to 95% (95%) (71%/79% (71%/79%)) | (10)% (%) to 86% (86%) (56%/60% (56%/60%))
volatility (bps) | 31 to 150 (84/78) | 31 to 151 (84/57)
credit net | $1505 | $2504
correlation | 28% (28%) to 84% (84%) (61%/60% (61%/60%)) | 35% (35%) to 91% (91%) (65%/68% (65%/68%))
credit spreads (bps) | 1 to 633 (69/42) | 1 to 993 (122/73)
upfront credit points | 0 to 97 (42/38) | 0 to 100 (43/35)
recovery rates | 22% (22%) to 73% (73%) (68%/73% (68%/73%)) | 1% (1%) to 97% (97%) (58%/70% (58%/70%))
currencies net | $-181 (181) | $3
correlation | 49% (49%) to 72% (72%) (61%/62% (61%/62%)) | 25% (25%) to 70% (70%) (50%/55% (50%/55%))
commodities net | $47 | $73
volatility | 9% (9%) to 79% (79%) (24%/24% (24%/24%)) | 13% (13%) to 68% (68%) (33%/33% (33%/33%))
natural gas spread | $(2.38) to $3.34 ($(0.22) /$(0.12)) | $(1.81) to $4.33 ($(0.14) /$(0.05))
oil spread | $(2.86) to $23.61 ($6.47/$2.35) | $(19.72) to $64.92 ($25.30/$16.43)
equities net | $-1249 (1249) | $-3416 (3416)
correlation | (36)% (%) to 94% (94%) (50%/52% (50%/52%)) | (39)% (%) to 88% (88%) (41%/41% (41%/41%))
volatility | 4% (4%) to 72% (72%) (24%/22% (24%/22%)) | 5% (5%) to 72% (72%) (24%/23% (24%/23%))
in the table above: 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts. 2030 ranges represent the significant unobservable inputs that were used in the valuation of each type of derivative. 2030 averages represent the arithmetic average of the inputs and are not weighted by the relative fair value or notional of the respective financial instruments. an average greater than the median indicates that the majority of inputs are below the average. for example, the difference between the average and the median for credit spreads and oil spread inputs indicates that the majority of the inputs fall in the lower end of the range. 2030 the ranges, averages and medians of these inputs are not representative of the appropriate inputs to use when calculating the fair value of any one derivative. for example, the highest correlation for interest rate derivatives is appropriate for valuing a specific interest rate derivative but may not be appropriate for valuing any other interest rate derivative. accordingly, the ranges of inputs do not represent uncertainty in, or possible ranges of, fair value measurements of the firm 2019s level 3 derivatives. 2030 interest rates, currencies and equities derivatives are valued using option pricing models, credit derivatives are valued using option pricing, correlation and discounted cash flow models, and commodities derivatives are valued using option pricing and discounted cash flow models. 2030 the fair value of any one instrument may be determined using multiple valuation techniques. for example, option pricing models and discounted cash flows models are typically used together to determine fair value. therefore, the level 3 balance encompasses both of these techniques. 2030 correlation within currencies and equities includes cross- product type correlation. 2030 natural gas spread represents the spread per million british thermal units of natural gas. 2030 oil spread represents the spread per barrel of oil and refined products. range of significant unobservable inputs the following is information about the ranges of significant unobservable inputs used to value the firm 2019s level 3 derivative instruments: 2030 correlation. ranges for correlation cover a variety of underliers both within one product type (e.g., equity index and equity single stock names) and across product types (e.g., correlation of an interest rate and a currency), as well as across regions. generally, cross-product type correlation inputs are used to value more complex instruments and are lower than correlation inputs on assets within the same derivative product type. 2030 volatility. ranges for volatility cover numerous underliers across a variety of markets, maturities and strike prices. for example, volatility of equity indices is generally lower than volatility of single stocks. 2030 credit spreads, upfront credit points and recovery rates. the ranges for credit spreads, upfront credit points and recovery rates cover a variety of underliers (index and single names), regions, sectors, maturities and credit qualities (high-yield and investment-grade). the broad range of this population gives rise to the width of the ranges of significant unobservable inputs. 130 goldman sachs 2017 form 10-k.
what is the net change in the value of commodities from 2016 to 2017? -26.0
what is the percent change?
|
-0.35616
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's peer group and the s&p 500 index. the graph assumes the investment of $100 as of december 31, 2013, in pmi common stock (at prices quoted on the new york stock exchange) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis. date pmi pmi peer group (1) s&p 500 index.
date | pmi | pmi peer group (1) | s&p 500 index
december 31 2013 | $100.00 | $100.00 | $100.00
december 31 2014 | $97.90 | $107.80 | $113.70
december 31 2015 | $111.00 | $116.80 | $115.30
december 31 2016 | $120.50 | $118.40 | $129.00
december 31 2017 | $144.50 | $140.50 | $157.20
december 31 2018 | $96.50 | $127.70 | $150.30
(1) the pmi peer group presented in this graph is the same as that used in the prior year. the pmi peer group was established based on a review of four characteristics: global presence; a focus on consumer products; and net revenues and a market capitalization of a similar size to those of pmi. the review also considered the primary international tobacco companies. as a result of this review, the following companies constitute the pmi peer group: altria group, inc., anheuser-busch inbev sa/nv, british american tobacco p.l.c., the coca-cola company, colgate-palmolive co., diageo plc, heineken n.v., imperial brands plc, japan tobacco inc., johnson & johnson, kimberly-clark corporation, the kraft-heinz company, mcdonald's corp., mondel z international, inc., nestl e9 s.a., pepsico, inc., the procter & gamble company, roche holding ag, and unilever nv and plc. note: figures are rounded to the nearest $0.10..
what is the net change in the price for pmi common stock from 2013 to 2018?
|
-3.5
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
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 3 f o r m 1 0 - k the following table sets forth the operating profit margin by cost of products sold. included in cost of product sold are segment for the years ended december 31, 2003, losses on foreign exchange hedge contracts, which increased 2002 and 2001: in 2003 relative to 2002. in the fourth quarter, the company reported operating profit as a percent of net sales of percent of net sales 47.1 percent for asia pacific..
year ended december 31, | 2003 | 2002 | 2001
americas | 51.2% (51.2%) | 48.3% (48.3%) | 47.4% (47.4%)
europe | 26.3 | 24.4 | 19.5
asia pacific | 45.3 | 46.1 | 45.4
operating profit for the americas as a percentage of net sales increased to 48.3 percent in 2002 from 47.4 percent in year ended december 31, 2003 2001, reflecting improved gross profit margins due to higher compared to year ended december 31, 2002 average selling prices and increased sales of higher margin operating profit for the americas as a percentage of net products, and lower selling expenses as a percent of sales sales increased due to improved gross margins driven by due to lower costs associated with the u.s. distributor higher average selling prices and increased sales of higher network. the americas continued to invest in strategic margin products, leveraged operating expenses and the initiatives such as mis technologies, field sales personnel, favorable impact of the change in accounting principle for medical education programs and new product launches. instruments. the change in accounting principle for operating profit for asia pacific as a percentage of net instruments increased operating profit by 1.7 percentage sales increased to 46.1 percent in 2002 from 45.4 percent points. with respect to sales growth, increased zimmer in 2001. this increase reflects lower selling, general and standalone average selling prices of 4 percent in 2003 and administrative expenses as a percent of sales in japan as favorable effects of volume and mix, 15 percent increase in a result of a sales force and dealer reorganization, partially 2003, represent the most significant factors in improved offset by lower gross profit margins as a result of lower yen operating profit in the americas. as reconstructive implant hedge gains compared to 2001. sales grow at a higher rate than trauma and orthopaedic operating profit for europe as a percentage of net sales surgical products, operating profit margins generally tend to increased to 24.4 percent in 2002 from 19.5 percent in 2001, improve since reconstructive product sales generally earn due to improved gross profit margins as a result of higher higher gross margins. this was the case in 2003, with zimmer average selling prices and favorable product and country mix, standalone reconstructive implant sales growth of 22 percent the leveraging of sales growth in europe on controlled as compared with total zimmer standalone sales growth of increases in operating expenses and improved efficiency 19 percent. in the fourth quarter, the company reported in the utilization of instruments (more frequent use of operating profit as a percent of net sales of 50.4 percent for instruments resulted in fewer placements and less expense). the americas. operating profit for europe as a percentage of net sales liquidity and capital resources increased due to improved gross profit margins driven by cash flows provided by operations were $494.8 million higher zimmer standalone average selling prices and in 2003, compared with $220.2 million in 2002. the principal favorable product and country mix, leveraged operating source of cash was net earnings before cumulative effect of expenses and the favorable impact of the change in change in accounting principle of $291.2 million. non-cash accounting principle for instruments. the change in expenses for the period included depreciation and accounting for instruments increased operating profit by amortization expense of $103.3 million, centerpulse inventory 1.4 percentage points. increases in zimmer standalone step-up of $42.7 million and centerpulse in-process research average selling prices in europe of 2 percent in 2003 and the and development write-offs of $11.2 million. working capital effect of volume and mix, 19 percent increase in 2003, were management, together with the collection of $20.0 million of the key factors in improved operating profit. also cash related to centerpulse tax loss carryforwards, contributing to the improvement was significantly lower contributed $80.4 million to operating cash flow. growth in operating expenses. in the fourth quarter, the working capital continues to be a key management focus. company reported operating profit as a percent of net sales at december 31, 2003, the company had 62 days of sales of 24.7 percent for europe. outstanding in accounts receivable, unfavorable to the prior operating profit for asia pacific as a percentage of year by 10 days. acquired centerpulse businesses had a net sales decreased primarily due to less favorable rates on negative impact of 10 days, due to centerpulse 2019s business hedge contracts during the year compared to the prior year, mix which has a greater proportion of european revenue with partially offset by increased zimmer standalone average payment terms generally longer than those in the u.s. at selling prices and leveraged operating expenses. the change december 31, 2003, the company had 232 days of inventory in accounting for instruments had an immaterial effect on on hand compared to 247 days reported at the end of 2002. operating profit for asia pacific. increases in zimmer the reduction was principally due to improved inventory standalone average selling prices in asia pacific of 1 percent management and the acquired dental and spinal businesses and volume and mix improvements of 4 percent in 2003 carrying fewer days of inventory. contributed modest improvement but was offset by higher.
what was the operating profit for the americas as a percentage of net sales in 2003? 51.2
and what was it in 2001? 47.4
by what amount, then, did it change over the years? 3.8
and what was this change but for the operating profit for europe as a percentage of net sales, in the same period?
|
6.8
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
american tower corporation and subsidiaries notes to consolidated financial statements (3) consists of customer-related intangibles of approximately $15.5 million and network location intangibles of approximately $19.8 million. the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years. (4) the company expects that the goodwill recorded will be deductible for tax purposes. the goodwill was allocated to the company 2019s international rental and management segment. uganda acquisition 2014on december 8, 2011, the company entered into a definitive agreement with mtn group to establish a joint venture in uganda. the joint venture is controlled by a holding company of which a wholly owned subsidiary of the company (the 201catc uganda subsidiary 201d) holds a 51% (51%) interest and a wholly owned subsidiary of mtn group (the 201cmtn uganda subsidiary 201d) holds a 49% (49%) interest. the joint venture is managed and controlled by the company and owns a tower operations company in uganda. pursuant to the agreement, the joint venture agreed to purchase a total of up to 1000 existing communications sites from mtn group 2019s operating subsidiary in uganda, subject to customary closing conditions. on june 29, 2012, the joint venture acquired 962 communications sites for an aggregate purchase price of $171.5 million, subject to post-closing adjustments. the aggregate purchase price was subsequently increased to $173.2 million, subject to future post-closing adjustments. under the terms of the purchase agreement, legal title to certain of these communications sites will be transferred upon fulfillment of certain conditions by mtn group. prior to the fulfillment of these conditions, the company will operate and maintain control of these communications sites, and accordingly, reflect these sites in the allocation of purchase price and the consolidated operating results. the following table summarizes the preliminary allocation of the aggregate purchase price consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition (in thousands): preliminary purchase price allocation.
- | preliminary purchase price allocation
non-current assets | $2258
property and equipment | 102366
intangible assets (1) | 63500
other non-current liabilities | -7528 (7528)
fair value of net assets acquired | $160596
goodwill (2) | 12564
(1) consists of customer-related intangibles of approximately $36.5 million and network location intangibles of approximately $27.0 million. the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years. (2) the company expects that the goodwill recorded will be not be deductible for tax purposes. the goodwill was allocated to the company 2019s international rental and management segment. germany acquisition 2014on november 14, 2012, the company entered into a definitive agreement to purchase communications sites from e-plus mobilfunk gmbh & co. kg. on december 4, 2012, the company completed the purchase of 2031 communications sites, for an aggregate purchase price of $525.7 million..
what was the total cost of the all the towers in the mtn group acquisition, in millions of dollars?
|
173.2
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
south america. approximately 26% (26%) of 2017 net sales were to international markets. this segment sells directly through its own sales force and indirectly through independent manufacturers 2019 representatives, primarily to wholesalers, home centers, mass merchandisers and industrial distributors. in aggregate, sales to the home depot and lowe 2019s comprised approximately 23% (23%) of net sales of the plumbing segment in 2017. this segment 2019s chief competitors include delta (owned by masco), kohler, pfister (owned by spectrum brands), american standard (owned by lixil group), insinkerator (owned by emerson electronic company) and imported private-label brands. doors. our doors segment manufactures and sells fiberglass and steel entry door systems under the therma-tru brand and urethane millwork product lines under the fypon brand. this segment benefits from the long-term trend away from traditional materials, such as wood, steel and aluminum, toward more energy-efficient and durable synthetic materials. therma-tru products include fiberglass and steel residential entry door and patio door systems, primarily for sale in the u.s. and canada. this segment 2019s principal customers are home centers, millwork building products and wholesale distributors, and specialty dealers that provide products to the residential new construction market, as well as to the remodeling and renovation markets. in aggregate, sales to the home depot and lowe 2019s comprised approximately 14% (14%) of net sales of the doors segment in 2017. this segment 2019s competitors include masonite, jeld-wen, plastpro and pella. security. our security segment 2019s products consist of locks, safety and security devices, and electronic security products manufactured, sourced and distributed primarily under the master lock brand and fire resistant safes, security containers and commercial cabinets manufactured, sourced and distributed under the sentrysafe brand. this segment sells products principally in the u.s., canada, europe, central america, japan and australia. approximately 25% (25%) of 2017 net sales were to international markets. this segment manufactures and sells key-controlled and combination padlocks, bicycle and cable locks, built-in locker locks, door hardware, automotive, trailer and towing locks, electronic access control solutions, and other specialty safety and security devices for consumer use to hardware, home center and other retail outlets. in addition, the segment sells lock systems and fire resistant safes to locksmiths, industrial and institutional users, and original equipment manufacturers. in aggregate, sales to the home depot and lowe 2019s comprised approximately 18% (18%) of the net sales of the security segment in 2017. master lock competes with abus, w.h. brady, hampton, kwikset (owned by spectrum brands), schlage (owned by allegion), assa abloy and various imports, and sentrysafe competes with first alert, magnum, fortress, stack-on and fire king. annual net sales for each of the last three fiscal years for each of our business segments were as follows: (in millions) 2017 2016 2015.
(in millions) | 2017 | 2016 | 2015
cabinets | $2467.1 | $2397.8 | $2173.4
plumbing | 1720.8 | 1534.4 | 1414.5
doors | 502.9 | 473.0 | 439.1
security | 592.5 | 579.7 | 552.4
total | $5283.3 | $4984.9 | $4579.4
for additional financial information for each of our business segments, refer to note 18, 201cinformation on business segments, 201d to the consolidated financial statements in item 8 of this annual report on form other information raw materials. the table below indicates the principal raw materials used by each of our segments. these materials are available from a number of sources. volatility in the prices of commodities and energy used in making and distributing our products impacts the cost of manufacturing our products..
what were cabinet sales in 2017? 2467.1
what were they in 2016?
|
2397.8
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the securities and exchange commission, nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934, each as amended, except to the extent that the company specifically incorporates it by reference into such filing. the following graph shows a five-year comparison of cumulative total shareowners 2019 returns for our class b common stock, the s&p 500 index, and the dow jones transportation average. the comparison of the total cumulative return on investment, which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods, assumes that $100 was invested on december 31, 2001 in the s&p 500 index, the dow jones transportation average, and the class b common stock of united parcel service, inc. comparison of five year cumulative total return $40.00 $60.00 $80.00 $100.00 $120.00 $140.00 $160.00 $180.00 $200.00 2001 2002 2003 2004 2005 2006 s&p 500 ups dj transport.
- | 12/31/01 | 12/31/02 | 12/31/03 | 12/31/04 | 12/31/05 | 12/31/06
united parcel service inc. | $100.00 | $117.19 | $140.49 | $163.54 | $146.35 | $148.92
s&p 500 index | $100.00 | $77.90 | $100.24 | $111.15 | $116.61 | $135.02
dow jones transportation average | $100.00 | $88.52 | $116.70 | $149.06 | $166.42 | $182.76
securities authorized for issuance under equity compensation plans the following table provides information as of december 31, 2006 regarding compensation plans under which our class a common stock is authorized for issuance. these plans do not authorize the issuance of our class b common stock..
what was the performance value of the united parcel service, inc. in 2006? 148.92
and what was the change in this performance value from 2001 to 2006?
|
48.92
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
notes to consolidated financial statements 2014 (continued) (amounts in millions, except per share amounts) 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 $255.7 and $327.1 as of december 31, 2008 and 2007, 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, 2008, 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, certain acquisitions contain deferred payments that are fixed and determinable on the acquisition date. in such cases, we record a liability for the payment and record this consideration as an additional cost of the acquired entity on the acquisition date. if deferred payments and purchases of additional interests after the effective date of purchase are contingent upon the future employment of the former owners then we recognize these payments 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 in the event of exercise at the earliest exercise date. we have certain put options that are exercisable at the discretion of the minority owners as of december 31, 2008. as such, these estimated acquisition payments of $5.5 have been included within the total payments expected to be made in 2009 in the table below and, if not made in 2009, will continue to carry forward into 2010 or beyond until they are exercised or expire. all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress. as of december 31, 2008, our estimated future contingent acquisition obligations payable in cash are as follows:.
- | 2009 | 2010 | 2011 | 2012 | 2013 | thereafter | total
deferred acquisition payments | $67.5 | $32.1 | $30.1 | $4.5 | $5.7 | $2014 | $139.9
put and call options with affiliates1 | 11.8 | 34.3 | 73.6 | 70.8 | 70.2 | 2.2 | 262.9
total contingent acquisition payments | 79.3 | 66.4 | 103.7 | 75.3 | 75.9 | 2.2 | 402.8
less cash compensation expense included above | 2.6 | 1.3 | 0.7 | 0.7 | 0.3 | 2014 | 5.6
total | $76.7 | $65.1 | $103.0 | $74.6 | $75.6 | $2.2 | $397.2
1 we have entered into certain acquisitions that contain both put and call options with similar terms and conditions. in such instances, we have included the related estimated contingent acquisition obligation in the period when the earliest related option is exercisable. as a result of revisions made during 2008 to eitf topic no. d-98, classification and measurement of redeemable securities (201ceitf d-98 201d).
what was the change in the amount of guarantees from parent company from 2007 to 2008? -71.4
and how much does this change represent in relation to that amount of guarantees in 2007, in percentage?
|
-0.21828
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
included in the corporate and consumer loan tables above are purchased distressed loans, which are loans that have evidenced significant credit deterioration subsequent to origination but prior to acquisition by citigroup. in accordance with sop 03-3, the difference between the total expected cash flows for these loans and the initial recorded investments is recognized in income over the life of the loans using a level yield. accordingly, these loans have been excluded from the impaired loan information presented above. in addition, per sop 03-3, subsequent decreases to the expected cash flows for a purchased distressed loan require a build of an allowance so the loan retains its level yield. however, increases in the expected cash flows are first recognized as a reduction of any previously established allowance and then recognized as income prospectively over the remaining life of the loan by increasing the loan 2019s level yield. where the expected cash flows cannot be reliably estimated, the purchased distressed loan is accounted for under the cost recovery method. the carrying amount of the company 2019s purchased distressed loan portfolio at december 31, 2010 was $392 million, net of an allowance of $77 million as of december 31, 2010. the changes in the accretable yield, related allowance and carrying amount net of accretable yield for 2010 are as follows: in millions of dollars accretable carrying amount of loan receivable allowance.
in millions of dollars | accretable yield | carrying amount of loan receivable | allowance
beginning balance | $27 | $920 | $95
purchases (1) | 1 | 130 | 2014
disposals/payments received | -11 (11) | -594 (594) | 2014
accretion | -44 (44) | 44 | 2014
builds (reductions) to the allowance | 128 | 2014 | -18 (18)
increase to expected cash flows | -2 (2) | 19 | 2014
fx/other | 17 | -50 (50) | 2014
balance at december 31 2010 (2) | $116 | $469 | $77
(1) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $130 million of purchased loans accounted for under the level-yield method and $0 under the cost-recovery method. these balances represent the fair value of these loans at their acquisition date. the related total expected cash flows for the level-yield loans were $131 million at their acquisition dates. (2) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $315 million of loans accounted for under the level-yield method and $154 million accounted for under the cost-recovery method..
in the year of 2010, what percentage did the net allowance represent in relation to the carrying amount of the company 2019s purchased distressed loan portfolio? 0.19643
and what was the combined total of this net allowance and the carrying amount?
|
469.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
(in millions) 2010 2009 2008.
(in millions) | 2010 | 2009 | 2008
net cash provided by operating activities | $3547 | $3173 | $4421
net cash used for investing activities | -319 (319) | -1518 (1518) | -907 (907)
net cash used for financing activities | -3363 (3363) | -1476 (1476) | -3938 (3938)
operating activities net cash provided by operating activities increased by $374 million to $3547 million in 2010 as compared to 2009. the increase primarily was attributable to an improvement in our operating working capital balances of $570 million as discussed below, and $187 million related to lower net income tax payments, as compared to 2009. partially offsetting these improvements was a net reduction in cash from operations of $350 million related to our defined benefit pension plan. this reduction was the result of increased contributions to the pension trust of $758 million as compared to 2009, partially offset by an increase in the cas costs recovered on our contracts. operating working capital accounts consists of receivables, inventories, accounts payable, and customer advances and amounts in excess of costs incurred. the improvement in cash provided by operating working capital was due to a decline in 2010 accounts receivable balances compared to 2009, and an increase in 2010 customer advances and amounts in excess of costs incurred balances compared to 2009. these improvements partially were offset by a decline in accounts payable balances in 2010 compared to 2009. the decline in accounts receivable primarily was due to higher collections on various programs at electronic systems, is&gs, and space systems business areas. the increase in customer advances and amounts in excess of costs incurred primarily was attributable to an increase on government and commercial satellite programs at space systems and air mobility programs at aeronautics, partially offset by a decrease on various programs at electronic systems. the decrease in accounts payable was attributable to the timing of accounts payable activities across all segments. net cash provided by operating activities decreased by $1248 million to $3173 million in 2009 as compared to 2008. the decline primarily was attributable to an increase in our contributions to the defined benefit pension plan of $1373 million as compared to 2008 and an increase in our operating working capital accounts of $147 million. partially offsetting these items was the impact of lower net income tax payments in 2009 as compared to 2008 in the amount of $319 million. the decline in cash provided by operating working capital primarily was due to growth of receivables on various programs in the ms2 and gt&l lines of business at electronic systems and an increase in inventories on combat aircraft programs at aeronautics, which partially were offset by increases in customer advances and amounts in excess of costs incurred on government satellite programs at space systems and the timing of accounts payable activities. investing activities capital expenditures 2013 the majority of our capital expenditures relate to facilities infrastructure and equipment that are incurred to support new and existing programs across all of our business segments. we also incur capital expenditures for it to support programs and general enterprise it infrastructure. capital expenditures for property, plant and equipment amounted to $820 million in 2010, $852 million in 2009, and $926 million in 2008. we expect that our operating cash flows will continue to be sufficient to fund our annual capital expenditures over the next few years. acquisitions, divestitures and other activities 2013 acquisition activities include both the acquisition of businesses and investments in affiliates. amounts paid in 2010 of $148 million primarily related to investments in affiliates. we paid $435 million in 2009 for acquisition activities, compared with $233 million in 2008. in 2010, we received proceeds of $798 million from the sale of eig, net of $17 million in transaction costs (see note 2). there were no material divestiture activities in 2009 and 2008. during 2010, we increased our short-term investments by $171 million compared to an increase of $279 million in 2009. financing activities share activity and dividends 2013 during 2010, 2009, and 2008, we repurchased 33.0 million, 24.9 million, and 29.0 million shares of our common stock for $2483 million, $1851 million, and $2931 million. of the shares we repurchased in 2010, 0.9 million shares for $63 million were repurchased in december but settled and were paid for in january 2011. in october 2010, our board of directors approved a new share repurchase program for the repurchase of our common stock from time-to-time, up to an authorized amount of $3.0 billion (see note 12). under the program, we have discretion to determine the dollar amount of shares to be repurchased and the timing of any repurchases in compliance with applicable law and regulation. we repurchased a total of 11.2 million shares under the program for $776 million, and as of december 31, 2010, there remained $2224 million available for additional share repurchases. in connection with their approval of the new share repurchase program, our board terminated our previous share repurchase program. cash received from the issuance of our common stock in connection with stock option exercises during 2010, 2009, and 2008 totaled $59 million, $40 million, and $250 million. those activities resulted in the issuance of 1.4 million shares, 1.0 million shares, and 4.7 million shares during the respective periods..
what is the value of cap ex for pp&e in 2010? 820.0
what is it 2009?
|
852.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
of prior service cost or credits, and net actuarial gains or losses) as part of non-operating income. we adopted the requirements of asu no. 2017-07 on january 1, 2018 using the retrospective transition method. we expect the adoption of asu no. 2017-07 to result in an increase to consolidated operating profit of $471 million and $846 million for 2016 and 2017, respectively, and a corresponding decrease in non-operating income for each year. we do not expect any impact to our business segment operating profit, our consolidated net earnings, or cash flows as a result of adopting asu no. 2017-07. intangibles-goodwill and other in january 2017, the fasb issued asu no. 2017-04, intangibles-goodwill and other (topic 350), which eliminates the requirement to compare the implied fair value of reporting unit goodwill with the carrying amount of that goodwill (commonly referred to as step 2) from the goodwill impairment test. the new standard does not change how a goodwill impairment is identified. wewill continue to perform our quantitative and qualitative goodwill impairment test by comparing the fair value of each reporting unit to its carrying amount, but if we are required to recognize a goodwill impairment charge, under the new standard the amount of the charge will be calculated by subtracting the reporting unit 2019s fair value from its carrying amount. under the prior standard, if we were required to recognize a goodwill impairment charge, step 2 required us to calculate the implied value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination and the amount of the charge was calculated by subtracting the reporting unit 2019s implied fair value of goodwill from its actual goodwill balance. the new standard is effective for interim and annual reporting periods beginning after december 15, 2019, with early adoption permitted, and should be applied prospectively from the date of adoption. we elected to adopt the new standard for future goodwill impairment tests at the beginning of the third quarter of 2017, because it significantly simplifies the evaluation of goodwill for impairment. the impact of the new standard will depend on the outcomes of future goodwill impairment tests. derivatives and hedging inaugust 2017, the fasb issuedasu no. 2017-12derivatives and hedging (topic 815), which eliminates the requirement to separately measure and report hedge ineffectiveness. the guidance is effective for fiscal years beginning after december 15, 2018, with early adoption permitted. we do not expect a significant impact to our consolidated assets and liabilities, net earnings, or cash flows as a result of adopting this new standard. we plan to adopt the new standard january 1, 2019. leases in february 2016, the fasb issuedasu no. 2016-02, leases (topic 842), which requires the recognition of lease assets and lease liabilities on the balance sheet and disclosure of key information about leasing arrangements for both lessees and lessors. the new standard is effective january 1, 2019 for public companies, with early adoption permitted. the new standard currently requires the application of a modified retrospective approach to the beginning of the earliest period presented in the financial statements. we are continuing to evaluate the expected impact to our consolidated financial statements and related disclosures. we plan to adopt the new standard effective january 1, 2019. note 2 2013 earnings per share theweighted average number of shares outstanding used to compute earnings per common sharewere as follows (in millions):.
- | 2017 | 2016 | 2015
weighted average common shares outstanding for basic computations | 287.8 | 299.3 | 310.3
weighted average dilutive effect of equity awards | 2.8 | 3.8 | 4.4
weighted average common shares outstanding for diluted computations | 290.6 | 303.1 | 314.7
we compute basic and diluted earnings per common share by dividing net earnings by the respectiveweighted average number of common shares outstanding for the periods presented. our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units (rsus), performance stock units (psus) and exercise of outstanding stock options based on the treasury stock method. there were no significant anti-dilutive equity awards for the years ended december 31, 2017, 2016 and 2015. note 3 2013 acquisitions and divestitures acquisition of sikorsky aircraft corporation on november 6, 2015, we completed the acquisition of sikorsky from united technologies corporation (utc) and certain of utc 2019s subsidiaries. the purchase price of the acquisition was $9.0 billion, net of cash acquired. as a result of the acquisition.
what is the sum of the weighted average common shares outstanding for diluted computations in 2017 and 2016? 593.7
what is the number of shares in 2015? 314.7
what is the sum including all 3 years? 908.4
what is that sum divided by 3?
|
302.8
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the defined benefit pension plans 2019 trust and $130 million to our retiree medical plans which will reduce our cash funding requirements for 2007 and 2008. in 2007, we expect to make no contributions to the defined benefit pension plans and expect to contribute $175 million to the retiree medical and life insurance plans, after giving consideration to the 2006 prepayments. the following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: (in millions) pension benefits benefits.
(in millions) | pensionbenefits | otherbenefits
2007 | $1440 | $260
2008 | 1490 | 260
2009 | 1540 | 270
2010 | 1600 | 270
2011 | 1660 | 270
years 2012 2013 2016 | 9530 | 1260
as noted previously, we also sponsor nonqualified defined benefit plans to provide benefits in excess of qualified plan limits. the aggregate liabilities for these plans at december 31, 2006 were $641 million. the expense associated with these plans totaled $59 million in 2006, $58 million in 2005 and $61 million in 2004. we also sponsor a small number of foreign benefit plans. the liabilities and expenses associated with these plans are not material to our results of operations, financial position or cash flows. note 13 2013 leases our total rental expense under operating leases was $310 million, $324 million and $318 million for 2006, 2005 and 2004, respectively. future minimum lease commitments at december 31, 2006 for all operating leases that have a remaining term of more than one year were $1.1 billion ($288 million in 2007, $254 million in 2008, $211 million in 2009, $153 million in 2010, $118 million in 2011 and $121 million in later years). certain major plant facilities and equipment are furnished by the u.s. government under short-term or cancelable arrangements. note 14 2013 legal proceedings, commitments and contingencies we are a party to or have property subject to litigation and other proceedings, including matters arising under provisions relating to the protection of the environment. we believe the probability is remote that the outcome of these matters will have a material adverse effect on the corporation as a whole. we cannot predict the outcome of legal proceedings with certainty. these matters include the following items, all of which have been previously reported: on march 27, 2006, we received a subpoena issued by a grand jury in the united states district court for the northern district of ohio. the subpoena requests documents related to our application for patents issued in the united states and the united kingdom relating to a missile detection and warning technology. we are cooperating with the government 2019s investigation. on february 6, 2004, we submitted a certified contract claim to the united states requesting contractual indemnity for remediation and litigation costs (past and future) related to our former facility in redlands, california. we submitted the claim consistent with a claim sponsorship agreement with the boeing company (boeing), executed in 2001, in boeing 2019s role as the prime contractor on the short range attack missile (sram) program. the contract for the sram program, which formed a significant portion of our work at the redlands facility, had special contractual indemnities from the u.s. air force, as authorized by public law 85-804. on august 31, 2004, the united states denied the claim. our appeal of that decision is pending with the armed services board of contract appeals. on august 28, 2003, the department of justice (the doj) filed complaints in partial intervention in two lawsuits filed under the qui tam provisions of the civil false claims act in the united states district court for the western district of kentucky, united states ex rel. natural resources defense council, et al v. lockheed martin corporation, et al, and united states ex rel. john d. tillson v. lockheed martin energy systems, inc., et al. the doj alleges that we committed violations of the resource conservation and recovery act at the paducah gaseous diffusion plant by not properly handling, storing.
what was, in millions, the total of future minimum lease commitments at december 31, 2006 for all operating leases that have a remaining term of more than one year? 1100.0
and how much do the future lease commitments that are due in 2008 represent in relation to this total, in percentage?
|
0.23091
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
largest operators of open-loop and closed-loop retail electronic payments networks the largest operators of open-loop and closed-loop retail electronic payments networks are visa, mastercard, american express, discover, jcb and diners club. with the exception of discover, which primarily operates in the united states, all of the other network operators can be considered multi- national or global providers of payments network services. based on payments volume, total volume, number of transactions and number of cards in circulation, visa is the largest retail electronic payments network in the world. the following chart compares our network with those of our major competitors for calendar year 2007: company payments volume volume transactions cards (billions) (billions) (billions) (millions) visa inc. (1)........................................ $2457 $3822 50.3 1592.
company | payments volume (billions) | total volume (billions) | total transactions (billions) | cards (millions)
visa inc. (1) | $2457 | $3822 | 50.3 | 1592
mastercard | 1697 | 2276 | 27.0 | 916
american express | 637 | 647 | 5.0 | 86
discover | 102 | 119 | 1.6 | 57
jcb | 55 | 61 | 0.6 | 58
diners club | 29 | 30 | 0.2 | 7
(1) visa inc. figures as reported previously in our filings. source: the nilson report, issue 902 (may 2008) and issue 903 (may 2008). note: visa inc. figures exclude visa europe. figures for competitors include their respective european operations. visa figures include visa, visa electron, and interlink brands. visa cards include plus proprietary cards, but proprietary plus cash volume is not included. domestic china figures are excluded. mastercard figures include pin-based debit card figures on mastercard cards, but not maestro or cirrus figures. china commercial funds transfers are excluded. american express and discover include business from third-party issuers. jcb figures are for april 2006 through march 2007, but cards and outlets are as of september 2007. jcb total transaction figures are estimates. our primary operations we generate revenue from the transaction processing services we offer to our customers. our customers deliver visa products and payment services to consumers and merchants based on the product platforms we define and manage. payments network management is a core part of our operations, as it ensures that our payments system provides a safe, efficient, consistent, and interoperable service to cardholders, merchants, and financial institutions worldwide. transaction processing services core processing services our core processing services involve the routing of payment information and related data to facilitate the authorization, clearing and settlement of transactions between visa issuers, which are the financial institutions that issue visa cards to cardholders, and acquirers, which are the financial institutions that offer visa network connectivity and payments acceptance services to merchants. in addition, we offer a range of value-added processing services to support our customers 2019 visa programs and to promote the growth and security of the visa payments network. authorization is the process of approving or declining a transaction before a purchase is finalized or cash is disbursed. clearing is the process of delivering final transaction data from an acquirer to an issuer for posting to the cardholder 2019s account, the calculation of certain fees and charges that apply to the issuer and acquirer involved in the transaction, and the conversion of transaction amounts to the.
what was the total payment volume for american express, in billions?
|
637.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
contractual obligations for future payments under existing debt and lease commitments and purchase obli- gations at december 31, 2005, were as follows: in millions 2006 2007 2008 2009 2010 thereafter.
in millions | 2006 | 2007 | 2008 | 2009 | 2010 | thereafter
total debt | $1181 | $570 | $308 | $2330 | $1534 | $6281
lease obligations | 172 | 144 | 119 | 76 | 63 | 138
purchase obligations (a) | 3264 | 393 | 280 | 240 | 204 | 1238
total | $4617 | $1107 | $707 | $2646 | $1801 | $7657
(a) the 2006 amount includes $2.4 billion for contracts made in the ordinary course of business to purchase pulpwood, logs and wood chips. the majority of our other purchase obligations are take-or-pay or purchase commitments made in the ordinary course of business related to raw material purchases and energy contracts. other significant items include purchase obligations related to contracted services. transformation plan in july 2005, the company announced a plan to focus its business portfolio on two key global platform businesses: uncoated papers (including distribution) and packaging. the plan also focuses on improving shareholder return through mill realignments in those two businesses, additional cost improvements and exploring strategic options for other businesses, includ- ing possible sale or spin-off. in connection with this process, in the third quarter of 2005, the company completed the sale of its 50.5% (50.5%) interest in carter holt harvey limited. other businesses currently under re- view include: 2022 the coated and supercalendered papers busi- ness, including the coated groundwood mill and associated assets in brazil, 2022 the beverage packaging business, including the pine bluff, arkansas mill, 2022 the kraft papers business, including the roa- noke rapids, north carolina mill, 2022 arizona chemical, 2022 the wood products business, and 2022 segments or potentially all of the company 2019s 6.5 million acres of u.s. forestlands. consistent with this evaluation process, the com- pany has distributed bid package information for some of these businesses. the exact timing of this evaluation process will vary by business; however, it is anticipated that decisions will be made for some of these businesses during 2006. while the exact use of any proceeds from potential future sales is dependent upon various factors affecting future cash flows, such as the amount of any proceeds received and changes in market conditions, input costs and capital spending, the company remains committed to using its free cash flow in 2006 to pay down debt, to return value to shareholders, and for se- lective high-return investments. critical accounting policies the preparation of financial statements in con- formity with generally accepted accounting principles in the united states requires international paper to estab- lish accounting policies and to make estimates that af- fect both the amounts and timing of the recording of assets, liabilities, revenues and expenses. some of these estimates require judgments about matters that are in- herently uncertain. accounting policies whose application may have a significant effect on the reported results of operations and financial position of international paper, and that can require judgments by management that affect their application, include sfas no. 5, 201caccounting for contingencies, 201d sfas no. 144, 201caccounting for the impairment or disposal of long-lived assets, 201d sfas no. 142, 201cgoodwill and other intangible assets, 201d sfas no. 87, 201cemployers 2019 accounting for pensions, 201d sfas no. 106, 201cemployers 2019 accounting for postretirement benefits other than pensions, 201d as amended by sfas nos. 132 and 132r, 201cemployers 2019 disclosures about pension and other postretirement benefits, 201d and sfas no. 109, 201caccounting for income taxes. 201d the following is a discussion of the impact of these accounting policies on international paper: contingent liabilities. accruals for contingent li- abilities, including legal and environmental matters, are recorded when it is probable that a liability has been incurred or an asset impaired and the amount of the loss can be reasonably estimated. liabilities accrued for legal matters require judgments regarding projected outcomes and range of loss based on historical experience and recommendations of legal counsel. additionally, as dis- cussed in note 10 of the notes to consolidated finan- cial statements in item 8. financial statements and supplementary data, reserves for projected future claims settlements relating to exterior siding and roofing prod- ucts previously manufactured by masonite require judgments regarding projections of future claims rates and amounts. international paper utilizes an in- dependent third party consultant to assist in developing these estimates. liabilities for environmental matters require evaluations of relevant environmental regu- lations and estimates of future remediation alternatives and costs. international paper determines these esti- mates after a detailed evaluation of each site. impairment of long-lived assets and goodwill. an impairment of a long-lived asset exists when the asset 2019s carrying amount exceeds its fair value, and is recorded when the carrying amount is not recoverable through future operations. a goodwill impairment exists when the carrying amount of goodwill exceeds its fair value. assessments of possible impairments of long-lived assets and goodwill are made when events or changes in cir- cumstances indicate that the carrying value of the asset.
what was the change in total debt to be repaid in the contractual obligations for future payments under existing debt and lease commitments and purchase obligations as of 12/31/05 between 2008 and 2009?
|
2022.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
liquidity and capital resources we maintained a strong financial position throughout fiscal year 2019. as of 30 september 2019, our consolidated balance sheet included cash and cash items of $2248.7. we continue to have consistent access to commercial paper markets, and cash flows from operating and financing activities are expected to meet liquidity needs for the foreseeable future. as of 30 september 2019, we had $971.5 of foreign cash and cash items compared to a total amount of cash and cash items of $2248.7. as a result of the tax act, we do not expect that a significant portion of our foreign subsidiaries' and affiliates' earnings will be subject to u.s. income tax upon subsequent repatriation to the united states. the repatriation of these earnings may be subject to foreign withholding and other taxes depending on the country in which the subsidiaries and affiliates reside. however, because we have significant current investment plans outside the u.s., it is our intent to permanently reinvest the majority of our foreign cash and cash items that would be subject to additional taxes outside the u.s. refer to note 23, income taxes, for additional information. the table below summarizes our cash flows from operating activities, investing activities, and financing activities from continuing operations as reflected on the consolidated statements of cash flows:.
cash provided by (used for) | 2019 | 2018
operating activities | $2969.9 | $2547.2
investing activities | -2113.4 (2113.4) | -1641.6 (1641.6)
financing activities | -1370.5 (1370.5) | -1359.8 (1359.8)
operating activities for the fiscal year ended 30 september 2019, cash provided by operating activities was $2969.9. income from continuing operations of $1760.0 was adjusted for items including depreciation and amortization, deferred income taxes, impacts from the tax act, a charge for the facility closure of one of our customers, undistributed earnings of unconsolidated affiliates, gain on sale of assets and investments, share-based compensation, noncurrent capital lease receivables, and certain other adjustments. the caption "gain on sale of assets and investments" includes a gain of $14.1 recognized on the disposition of our interest in high-tech gases (beijing) co., ltd., a previously held equity investment in our industrial gases 2013 asia segment. refer to note 7, acquisitions, to the consolidated financial statements for additional information. the working capital accounts were a use of cash of $25.3, primarily driven by $69.0 from trade receivables and $41.8 from payables and accrued liabilities, partially offset by $79.8 from other receivables. the use of cash within "payables and accrued liabilities" was primarily driven by a $48.9 decrease in accrued utilities and a $30.3 decrease in accrued interest, partially offset by a $51.6 increase in customer advances primarily related to sale of equipment activity. the decrease in accrued utilities was primarily driven by a contract modification to a tolling arrangement in india and lower utility costs in the industrial gases 2013 americas segment. the source of cash from other receivables of $79.8 was primarily due to the maturities of forward exchange contracts that hedged foreign currency exposures and the collection of value added taxes. for the fiscal year ended 30 september 2018, cash provided by operating activities was $2547.2, including income from continuing operations of $1455.6. other adjustments of $131.6 include a $54.9 net impact from the remeasurement of intercompany transactions. the related hedging instruments that eliminate the earnings impact are included as a working capital adjustment in other receivables or payables and accrued liabilities. in addition, other adjustments were impacted by cash received from the early termination of a cross currency swap of $54.4, as well as the excess of pension expense over pension contributions of $23.5. the working capital accounts were a use of cash of $265.4, primarily driven by payables and accrued liabilities, inventories, and trade receivables, partially offset by other receivables. the use of cash in payables and accrued liabilities of $277.7 includes a decrease in customer advances of $145.7 primarily related to sale of equipment activity and $67.1 for maturities of forward exchange contracts that hedged foreign currency exposures. the use of cash in inventories primarily resulted from the purchase of helium molecules. in addition, inventories reflect the noncash impact of our change in accounting for u.s. inventories from lifo to fifo. the source of cash from other receivables of $128.3 was primarily due to the maturities of forward exchange contracts that hedged foreign currency exposures..
what was the amount of cash provided by operating activities? 2547.2
what was cash spent from investing activities? 1641.6
what is cash provided from operating activities less cash spent from investing activities?
|
905.6
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
results of operations operating revenues millions 2014 2013 2012% (%) change 2014 v 2013% (%) change 2013 v 2012.
millions | 2014 | 2013 | 2012 |% (%) change 2014 v 2013 |% (%) change 2013 v 2012
freight revenues | $22560 | $20684 | $19686 | 9% (9%) | 5% (5%)
other revenues | 1428 | 1279 | 1240 | 12% (12%) | 3% (3%)
total | $23988 | $21963 | $20926 | 9% (9%) | 5% (5%)
we generate freight revenues by transporting freight or other materials from our six commodity groups. freight revenues vary with volume (carloads) and average revenue per car (arc). changes in price, traffic mix and fuel surcharges drive arc. we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations, which we record as reductions to freight revenues based on the actual or projected future shipments. we recognize freight revenues as shipments move from origin to destination. we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them. other revenues include revenues earned by our subsidiaries, revenues from our commuter rail operations, and accessorial revenues, which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage. we recognize other revenues as we perform services or meet contractual obligations. freight revenues from all six commodity groups increased during 2014 compared to 2013 driven by 7% (7%) volume growth and core pricing gains of 2.5% (2.5%). volume growth from grain, frac sand, rock, and intermodal (domestic and international) shipments offset declines in crude oil. freight revenues from five of our six commodity groups increased during 2013 compared to 2012. revenue from agricultural products was down slightly compared to 2012. arc increased 5% (5%), driven by core pricing gains, shifts in business mix and an automotive logistics management arrangement. volume essentially was flat year over year as growth in automotive, frac sand, crude oil and domestic intermodal offset declines in coal, international intermodal and grain shipments. our fuel surcharge programs generated freight revenues of $2.8 billion, $2.6 billion, and $2.6 billion in 2014, 2013, and 2012, respectively. fuel surcharge in 2014 increased 6% (6%) driven by our 7% (7%) carloadings increase. fuel surcharge in 2013 essentially was flat versus 2012 as lower fuel price offset improved fuel recovery provisions and the lag effect of our programs (surcharges trail fluctuations in fuel price by approximately two months). in 2014, other revenue increased from 2013 due to higher revenues at our subsidiaries, primarily those that broker intermodal and automotive services, accessorial revenue driven by increased volume and per diem revenue for container usage (previously included in automotive freight revenue). in 2013, other revenue increased from 2012 due primarily to miscellaneous contract revenue and higher revenues at our subsidiaries that broker intermodal and automotive services..
how much does the fuel surcharge revenue in 2014 represent in relation to the one in 2013? 1.07692
and what was, in billions, that fuel surcharge revenue in 2014?
|
2.8
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the aes corporation notes to consolidated financial statements 2014 (continued) december 31, 2017, 2016, and 2015 was dispatched starting in february 2018. aes puerto rico continues to be the lowest cost and epa compliant energy provider in puerto rico. therefore, we expect aes puerto rico to continue to be a critical supplier to prepa. starting prior to the hurricanes, prepa has been facing economic challenges that could impact the company, and on july 2, 2017, filed for bankruptcy under title iii. as a result of the bankruptcy filing, aes puerto rico and aes ilumina 2019s non-recourse debt of $365 million and $36 million, respectively, is in default and has been classified as current as of december 31, 2017. in november 2017, aes puerto rico signed a forbearance and standstill agreement with its lenders to prevent the lenders from taking any action against the company due to the default events. this agreement will expire on march 22, 2018. the company's receivable balances in puerto rico as of december 31, 2017 totaled $86 million, of which $53 million was overdue. after the filing of title iii protection, and up until the disruption caused by the hurricanes, aes in puerto rico was collecting the overdue amounts from prepa in line with historic payment patterns. considering the information available as of the filing date, management believes the carrying amount of our assets in puerto rico of $627 million is recoverable as of december 31, 2017 and no reserve on the receivables is required. foreign currency risks 2014 aes operates businesses in many foreign countries and such operations could be impacted by significant fluctuations in foreign currency exchange rates. fluctuations in currency exchange rate between u.s. dollar and the following currencies could create significant fluctuations in earnings and cash flows: the argentine peso, the brazilian real, the dominican republic peso, the euro, the chilean peso, the colombian peso, and the philippine peso. concentrations 2014 due to the geographical diversity of its operations, the company does not have any significant concentration of customers or sources of fuel supply. several of the company's generation businesses rely on ppas with one or a limited number of customers for the majority of, and in some cases all of, the relevant businesses' output over the term of the ppas. however, no single customer accounted for 10% (10%) or more of total revenue in 2017, 2016 or 2015. the cash flows and results of operations of our businesses depend on the credit quality of our customers and the continued ability of our customers and suppliers to meet their obligations under ppas and fuel supply agreements. if a substantial portion of the company's long-term ppas and/or fuel supply were modified or terminated, the company would be adversely affected to the extent that it would be unable to replace such contracts at equally favorable terms. 26. related party transactions certain of our businesses in panama and the dominican republic are partially owned by governments either directly or through state-owned institutions. in the ordinary course of business, these businesses enter into energy purchase and sale transactions, and transmission agreements with other state-owned institutions which are controlled by such governments. at two of our generation businesses in mexico, the offtakers exercise significant influence, but not control, through representation on these businesses' boards of directors. these offtakers are also required to hold a nominal ownership interest in such businesses. in chile, we provide capacity and energy under contractual arrangements to our investment which is accounted for under the equity method of accounting. additionally, the company provides certain support and management services to several of its affiliates under various agreements. the company's consolidated statements of operations included the following transactions with related parties for the periods indicated (in millions):.
years ended december 31, | 2017 | 2016 | 2015
revenue 2014non-regulated | $1297 | $1100 | $1099
cost of sales 2014non-regulated | 220 | 210 | 330
interest income | 8 | 4 | 25
interest expense | 36 | 39 | 33
.
what was the total of revenues for transactions with related parties in 2017? 1297.0
and what was that in 2016? 1100.0
what was, then, the change over the year? 197.0
what was the total of revenues for transactions with related parties in 2016? 1100.0
and how much does that change represent in relation to this 2016 total, in percentage?
|
0.17909
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
stock-based awards under the plan stock options 2013 marathon grants stock options under the 2007 plan and previously granted options under the 2003 plan. marathon 2019s stock options represent the right to purchase shares of common stock at the fair market value of the common stock on the date of grant. through 2004, certain stock options were granted under the 2003 plan with a tandem stock appreciation right, which allows the recipient to instead elect to receive cash and/or common stock equal to the excess of the fair market value of shares of common stock, as determined in accordance with the 2003 plan, over the option price of the shares. in general, stock options granted under the 2007 plan and the 2003 plan vest ratably over a three-year period and have a maximum term of ten years from the date they are granted. stock appreciation rights 2013 prior to 2005, marathon granted sars under the 2003 plan. no stock appreciation rights have been granted under the 2007 plan. similar to stock options, stock appreciation rights represent the right to receive a payment equal to the excess of the fair market value of shares of common stock on the date the right is exercised over the grant price. under the 2003 plan, certain sars were granted as stock-settled sars and others were granted in tandem with stock options. in general, sars granted under the 2003 plan vest ratably over a three-year period and have a maximum term of ten years from the date they are granted. stock-based performance awards 2013 prior to 2005, marathon granted stock-based performance awards under the 2003 plan. no stock-based performance awards have been granted under the 2007 plan. beginning in 2005, marathon discontinued granting stock-based performance awards and instead now grants cash-settled performance units to officers. all stock-based performance awards granted under the 2003 plan have either vested or been forfeited. as a result, there are no outstanding stock-based performance awards. restricted stock 2013 marathon grants restricted stock and restricted stock units under the 2007 plan and previously granted such awards under the 2003 plan. in 2005, the compensation committee began granting time-based restricted stock to certain u.s.-based officers of marathon and its consolidated subsidiaries as part of their annual long-term incentive package. the restricted stock awards to officers vest three years from the date of grant, contingent on the recipient 2019s continued employment. marathon also grants restricted stock to certain non-officer employees and restricted stock units to certain international employees (201crestricted stock awards 201d), based on their performance within certain guidelines and for retention purposes. the restricted stock awards to non-officers generally vest in one-third increments over a three-year period, contingent on the recipient 2019s continued employment. prior to vesting, all restricted stock recipients have the right to vote such stock and receive dividends thereon. the non-vested shares are not transferable and are held by marathon 2019s transfer agent. common stock units 2013 marathon maintains an equity compensation program for its non-employee directors under the 2007 plan and previously maintained such a program under the 2003 plan. all non-employee directors other than the chairman receive annual grants of common stock units, and they are required to hold those units until they leave the board of directors. when dividends are paid on marathon common stock, directors receive dividend equivalents in the form of additional common stock units. stock-based compensation expense 2013 total employee stock-based compensation expense was $80 million, $83 million and $111 million in 2007, 2006 and 2005. the total related income tax benefits were $29 million, $31 million and $39 million. in 2007 and 2006, cash received upon exercise of stock option awards was $27 million and $50 million. tax benefits realized for deductions during 2007 and 2006 that were in excess of the stock-based compensation expense recorded for options exercised and other stock-based awards vested during the period totaled $30 million and $36 million. cash settlements of stock option awards totaled $1 million and $3 million in 2007 and 2006. stock option awards granted 2013 during 2007, 2006 and 2005, marathon granted stock option awards to both officer and non-officer employees. the weighted average grant date fair value of these awards was based on the following black-scholes assumptions:.
- | 2007 | 2006 | 2005
weighted average exercise price per share | $60.94 | $37.84 | $25.14
expected annual dividends per share | $0.96 | $0.80 | $0.66
expected life in years | 5.0 | 5.1 | 5.5
expected volatility | 27% (27%) | 28% (28%) | 28% (28%)
risk-free interest rate | 4.1% (4.1%) | 5.0% (5.0%) | 3.8% (3.8%)
weighted average grant date fair value of stock option awards granted | $17.24 | $10.19 | $6.15
.
how much did the weighted average exercise price per share increase between 2005 and 2007?
|
35.8
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
management 2019s discussion and analysis of financial condition and results of operations 2013 (continued) (amounts in millions, except per share amounts) liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity, capital resources and uses of capital..
cash flow data | years ended december 31, 2015 | years ended december 31, 2014 | years ended december 31, 2013
net income adjusted to reconcile net income to net cashprovided by operating activities1 | $848.2 | $831.2 | $598.4
net cash used in working capital2 | -117.5 (117.5) | -131.1 (131.1) | -9.6 (9.6)
changes in other non-current assets and liabilities using cash | -56.7 (56.7) | -30.6 (30.6) | 4.1
net cash provided by operating activities | $674.0 | $669.5 | $592.9
net cash used in investing activities | -202.8 (202.8) | -200.8 (200.8) | -224.5 (224.5)
net cash used in financing activities | -472.8 (472.8) | -343.9 (343.9) | -1212.3 (1212.3)
1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets, amortization of restricted stock and other non-cash compensation, non-cash (gain) loss related to early extinguishment of debt, losses on sales of businesses and deferred income taxes. 2 reflects changes in accounts receivable, expenditures billable to clients, other current assets, accounts payable and accrued liabilities. operating activities net cash provided by operating activities during 2015 was $674.0, which was an improvement of $4.5 as compared to 2014, primarily as a result of an improvement in working capital usage of $13.6. due to the seasonality of our business, we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year, with the largest impacts in the first and fourth quarters. our net working capital usage in 2015 was primarily attributable to our media businesses. net cash provided by operating activities during 2014 was $669.5, which was an improvement of $76.6 as compared to 2013, primarily as a result of an increase in net income, offset by an increase in working capital usage of $121.5. our net working capital usage in 2014 was impacted by our media businesses. the timing of media buying on behalf of our clients affects our working capital and operating cash flow. in most of our businesses, our agencies enter into commitments to pay production and media costs on behalf of clients. to the extent possible, we pay production and media charges after we have received funds from our clients. the amounts involved substantially exceed our revenues and primarily affect the level of accounts receivable, expenditures billable to clients, accounts payable and accrued liabilities. our assets include both cash received and accounts receivable from clients for these pass-through arrangements, while our liabilities include amounts owed on behalf of clients to media and production suppliers. our accrued liabilities are also affected by the timing of certain other payments. for example, while annual cash incentive awards are accrued throughout the year, they are generally paid during the first quarter of the subsequent year. investing activities net cash used in investing activities during 2015 primarily related to payments for capital expenditures of $161.1, largely attributable to purchases of leasehold improvements and computer hardware. net cash used in investing activities during 2014 primarily related to payments for capital expenditures and acquisitions. capital expenditures of $148.7 related primarily to computer hardware and software and leasehold improvements. we made payments of $67.8 related to acquisitions completed during 2014, net of cash acquired..
what was the change in the total cash flow between 2014 and 2015? 17.0
so what was the percentage increase during this time? 0.02045
and converted from a decimal to a percentage? 2.04524
what was the net change in cash from operating and investing activities?
|
471.2
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's peer group and the s&p 500 index. the graph assumes the investment of $100 as of december 31, 2013, in pmi common stock (at prices quoted on the new york stock exchange) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis. date pmi pmi peer group (1) s&p 500 index.
date | pmi | pmi peer group (1) | s&p 500 index
december 31 2013 | $100.00 | $100.00 | $100.00
december 31 2014 | $97.90 | $107.80 | $113.70
december 31 2015 | $111.00 | $116.80 | $115.30
december 31 2016 | $120.50 | $118.40 | $129.00
december 31 2017 | $144.50 | $140.50 | $157.20
december 31 2018 | $96.50 | $127.70 | $150.30
(1) the pmi peer group presented in this graph is the same as that used in the prior year. the pmi peer group was established based on a review of four characteristics: global presence; a focus on consumer products; and net revenues and a market capitalization of a similar size to those of pmi. the review also considered the primary international tobacco companies. as a result of this review, the following companies constitute the pmi peer group: altria group, inc., anheuser-busch inbev sa/nv, british american tobacco p.l.c., the coca-cola company, colgate-palmolive co., diageo plc, heineken n.v., imperial brands plc, japan tobacco inc., johnson & johnson, kimberly-clark corporation, the kraft-heinz company, mcdonald's corp., mondel z international, inc., nestl e9 s.a., pepsico, inc., the procter & gamble company, roche holding ag, and unilever nv and plc. note: figures are rounded to the nearest $0.10..
what is the price of pmi in 2014? 97.9
what is the price of pmi in 2014 less 100?
|
-2.1
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
backlog applied manufactures systems to meet demand represented by order backlog and customer commitments. backlog consists of: (1) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months, or shipment has occurred but revenue has not been recognized; and (2) contractual service revenue and maintenance fees to be earned within the next 12 months. backlog by reportable segment as of october 26, 2014 and october 27, 2013 was as follows: 2014 2013 (in millions, except percentages).
- | 2014 | 2013 | - | (in millions except percentages)
silicon systems group | $1400 | 48% (48%) | $1295 | 55% (55%)
applied global services | 775 | 27% (27%) | 591 | 25% (25%)
display | 593 | 20% (20%) | 361 | 15% (15%)
energy and environmental solutions | 149 | 5% (5%) | 125 | 5% (5%)
total | $2917 | 100% (100%) | $2372 | 100% (100%)
applied 2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods, due to the potential for customer changes in delivery schedules or cancellation of orders. customers may delay delivery of products or cancel orders prior to shipment, subject to possible cancellation penalties. delays in delivery schedules and/or a reduction of backlog during any particular period could have a material adverse effect on applied 2019s business and results of operations. manufacturing, raw materials and supplies applied 2019s manufacturing activities consist primarily of assembly, test and integration of various proprietary and commercial parts, components and subassemblies (collectively, parts) that are used to manufacture systems. applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries, including the united states, europe, israel, singapore, taiwan, and other countries in asia, and assembly of some systems is completed at customer sites. applied uses numerous vendors, including contract manufacturers, to supply parts and assembly services for the manufacture and support of its products. although applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers, this is not always possible. accordingly, some key parts may be obtained from only a single supplier or a limited group of suppliers. applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by: (1) selecting and qualifying alternate suppliers for key parts; (2) monitoring the financial condition of key suppliers; (3) maintaining appropriate inventories of key parts; (4) qualifying new parts on a timely basis; and (5) locating certain manufacturing operations in close proximity to suppliers and customers. research, development and engineering applied 2019s long-term growth strategy requires continued development of new products, including products that enable expansion into new markets. the company 2019s significant investment in research, development and engineering (rd&e) has generally enabled it to deliver new products and technologies before the emergence of strong demand, thus allowing customers to incorporate these products into their manufacturing plans at an early stage in the technology selection cycle. applied works closely with its global customers to design systems and processes that meet their planned technical and production requirements. product development and engineering organizations are located primarily in the united states, as well as in europe, israel, taiwan, and china. in addition, applied outsources certain rd&e activities, some of which are performed outside the united states, primarily in india and singapore. process support and customer demonstration laboratories are located in the united states, china, taiwan, europe, and israel. applied 2019s investments in rd&e for product development and engineering programs to create or improve products and technologies over the last three years were as follows: $1.4 billion (16 percent of net sales) in fiscal 2014, $1.3 billion (18 percent of net sales) in fiscal 2013, and $1.2 billion (14 percent of net sales) in fiscal 2012. applied has spent an average of 13 percent of net sales in rd&e over the last five years. in addition to rd&e for specific product technologies, applied maintains ongoing programs for automation control systems, materials research, and environmental control that are applicable to its products..
what were net sales in 2014? 0.0875
and in 2013?
|
0.07222
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the defined benefit pension plans 2019 trust and $130 million to our retiree medical plans which will reduce our cash funding requirements for 2007 and 2008. in 2007, we expect to make no contributions to the defined benefit pension plans and expect to contribute $175 million to the retiree medical and life insurance plans, after giving consideration to the 2006 prepayments. the following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: (in millions) pension benefits benefits.
(in millions) | pensionbenefits | otherbenefits
2007 | $1440 | $260
2008 | 1490 | 260
2009 | 1540 | 270
2010 | 1600 | 270
2011 | 1660 | 270
years 2012 2013 2016 | 9530 | 1260
as noted previously, we also sponsor nonqualified defined benefit plans to provide benefits in excess of qualified plan limits. the aggregate liabilities for these plans at december 31, 2006 were $641 million. the expense associated with these plans totaled $59 million in 2006, $58 million in 2005 and $61 million in 2004. we also sponsor a small number of foreign benefit plans. the liabilities and expenses associated with these plans are not material to our results of operations, financial position or cash flows. note 13 2013 leases our total rental expense under operating leases was $310 million, $324 million and $318 million for 2006, 2005 and 2004, respectively. future minimum lease commitments at december 31, 2006 for all operating leases that have a remaining term of more than one year were $1.1 billion ($288 million in 2007, $254 million in 2008, $211 million in 2009, $153 million in 2010, $118 million in 2011 and $121 million in later years). certain major plant facilities and equipment are furnished by the u.s. government under short-term or cancelable arrangements. note 14 2013 legal proceedings, commitments and contingencies we are a party to or have property subject to litigation and other proceedings, including matters arising under provisions relating to the protection of the environment. we believe the probability is remote that the outcome of these matters will have a material adverse effect on the corporation as a whole. we cannot predict the outcome of legal proceedings with certainty. these matters include the following items, all of which have been previously reported: on march 27, 2006, we received a subpoena issued by a grand jury in the united states district court for the northern district of ohio. the subpoena requests documents related to our application for patents issued in the united states and the united kingdom relating to a missile detection and warning technology. we are cooperating with the government 2019s investigation. on february 6, 2004, we submitted a certified contract claim to the united states requesting contractual indemnity for remediation and litigation costs (past and future) related to our former facility in redlands, california. we submitted the claim consistent with a claim sponsorship agreement with the boeing company (boeing), executed in 2001, in boeing 2019s role as the prime contractor on the short range attack missile (sram) program. the contract for the sram program, which formed a significant portion of our work at the redlands facility, had special contractual indemnities from the u.s. air force, as authorized by public law 85-804. on august 31, 2004, the united states denied the claim. our appeal of that decision is pending with the armed services board of contract appeals. on august 28, 2003, the department of justice (the doj) filed complaints in partial intervention in two lawsuits filed under the qui tam provisions of the civil false claims act in the united states district court for the western district of kentucky, united states ex rel. natural resources defense council, et al v. lockheed martin corporation, et al, and united states ex rel. john d. tillson v. lockheed martin energy systems, inc., et al. the doj alleges that we committed violations of the resource conservation and recovery act at the paducah gaseous diffusion plant by not properly handling, storing.
as of december 31, 2006, what was the total of the future minimum lease commitments for all operating leases that have a remaining term of more than one year? 1100.0
and what percentage from those commitments was due in 2007?
|
0.26182
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
entergy mississippi, inc. management 2019s financial discussion and analysis 2010 compared to 2009 net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges (credits). following is an analysis of the change in net revenue comparing 2010 to 2009. amount (in millions).
- | amount (in millions)
2009 net revenue | $536.7
volume/weather | 18.9
other | -0.3 (0.3)
2010 net revenue | $555.3
the volume/weather variance is primarily due to an increase of 1046 gwh, or 8% (8%), in billed electricity usage in all sectors, primarily due to the effect of more favorable weather on the residential sector. gross operating revenues, fuel and purchased power expenses, and other regulatory charges (credits) gross operating revenues increased primarily due to an increase of $22 million in power management rider revenue as the result of higher rates, the volume/weather variance discussed above, and an increase in grand gulf rider revenue as a result of higher rates and increased usage, offset by a decrease of $23.5 million in fuel cost recovery revenues due to lower fuel rates. fuel and purchased power expenses decreased primarily due to a decrease in deferred fuel expense as a result of prior over-collections, offset by an increase in the average market price of purchased power coupled with increased net area demand. other regulatory charges increased primarily due to increased recovery of costs associated with the power management recovery rider. other income statement variances 2011 compared to 2010 other operation and maintenance expenses decreased primarily due to: a $5.4 million decrease in compensation and benefits costs primarily resulting from an increase in the accrual for incentive-based compensation in 2010 and a decrease in stock option expense; and the sale of $4.9 million of surplus oil inventory. the decrease was partially offset by an increase of $3.9 million in legal expenses due to the deferral in 2010 of certain litigation expenses in accordance with regulatory treatment. taxes other than income taxes increased primarily due to an increase in ad valorem taxes due to a higher 2011 assessment as compared to 2010, partially offset by higher capitalized property taxes as compared with prior year. depreciation and amortization expenses increased primarily due to an increase in plant in service. interest expense decreased primarily due to a revision caused by ferc 2019s acceptance of a change in the treatment of funds received from independent power producers for transmission interconnection projects..
what is the effect of volume/weather in net revenue during 2010, in millions? 18.9
what about in full dollars?
|
18900000.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
38 2013 ppg annual report and form 10-k notes to the consolidated financial statements 1. summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries, inc. (201cppg 201d or the 201ccompany 201d) and all subsidiaries, both u.s. and non-u.s., that it controls. ppg owns more than 50% (50%) of the voting stock of most of the subsidiaries that it controls. for those consolidated subsidiaries in which the company 2019s ownership is less than 100% (100%), the outside shareholders 2019 interests are shown as noncontrolling interests. investments in companies in which ppg owns 20% (20%) to 50% (50%) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting. as a result, ppg 2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in "investments" in the accompanying consolidated balance sheet. transactions between ppg and its subsidiaries are eliminated in consolidation. use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of income and expenses during the reporting period. such estimates also include the fair value of assets acquired and liabilities assumed as a result of allocations of purchase price of business combinations consummated. actual outcomes could differ from those estimates. revenue recognition the company recognizes revenue when the earnings process is complete. revenue from sales is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered. shipping and handling costs amounts billed to customers for shipping and handling are reported in 201cnet sales 201d in the accompanying consolidated statement of income. shipping and handling costs incurred by the company for the delivery of goods to customers are included in 201ccost of sales, exclusive of depreciation and amortization 201d in the accompanying consolidated statement of income. selling, general and administrative costs amounts presented as 201cselling, general and administrative 201d in the accompanying consolidated statement of income are comprised of selling, customer service, distribution and advertising costs, as well as the costs of providing corporate- wide functional support in such areas as finance, law, human resources and planning. distribution costs pertain to the movement and storage of finished goods inventory at company- owned and leased warehouses, terminals and other distribution facilities. advertising costs advertising costs are expensed in the year incurred and totaled $345 million, $288 million and $245 million in 2013, 2012 and 2011, respectively. research and development research and development costs, which consist primarily of employee related costs, are charged to expense as incurred. the following are the research and development costs for the years ended december 31:.
(millions) | 2013 | 2012 | 2011
research and development 2013 total | $505 | $468 | $443
less depreciation on research facilities | 17 | 15 | 15
research and development net | $488 | $453 | $428
legal costs legal costs are expensed as incurred. legal costs incurred by ppg include legal costs associated with acquisition and divestiture transactions, general litigation, environmental regulation compliance, patent and trademark protection and other general corporate purposes. foreign currency translation the functional currency of most significant non-u.s. operations is their local currency. assets and liabilities of those operations are translated into u.s. dollars using year-end exchange rates; income and expenses are translated using the average exchange rates for the reporting period. unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss, a separate component of shareholders 2019 equity. cash equivalents cash equivalents are highly liquid investments (valued at cost, which approximates fair value) acquired with an original maturity of three months or less. short-term investments short-term investments are highly liquid, high credit quality investments (valued at cost plus accrued interest) that have stated maturities of greater than three months to one year. the purchases and sales of these investments are classified as investing activities in the consolidated statement of cash flows. marketable equity securities the company 2019s investment in marketable equity securities is recorded at fair market value and reported in 201cother current assets 201d and 201cinvestments 201d in the accompanying consolidated balance sheet with changes in fair market value recorded in income for those securities designated as trading securities and in other comprehensive income, net of tax, for those designated as available for sale securities..
what was the research and development net in 2013?
|
488.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
included in the corporate and consumer loan tables above are purchased distressed loans, which are loans that have evidenced significant credit deterioration subsequent to origination but prior to acquisition by citigroup. in accordance with sop 03-3, the difference between the total expected cash flows for these loans and the initial recorded investments is recognized in income over the life of the loans using a level yield. accordingly, these loans have been excluded from the impaired loan information presented above. in addition, per sop 03-3, subsequent decreases to the expected cash flows for a purchased distressed loan require a build of an allowance so the loan retains its level yield. however, increases in the expected cash flows are first recognized as a reduction of any previously established allowance and then recognized as income prospectively over the remaining life of the loan by increasing the loan 2019s level yield. where the expected cash flows cannot be reliably estimated, the purchased distressed loan is accounted for under the cost recovery method. the carrying amount of the company 2019s purchased distressed loan portfolio at december 31, 2010 was $392 million, net of an allowance of $77 million as of december 31, 2010. the changes in the accretable yield, related allowance and carrying amount net of accretable yield for 2010 are as follows: in millions of dollars accretable carrying amount of loan receivable allowance.
in millions of dollars | accretable yield | carrying amount of loan receivable | allowance
beginning balance | $27 | $920 | $95
purchases (1) | 1 | 130 | 2014
disposals/payments received | -11 (11) | -594 (594) | 2014
accretion | -44 (44) | 44 | 2014
builds (reductions) to the allowance | 128 | 2014 | -18 (18)
increase to expected cash flows | -2 (2) | 19 | 2014
fx/other | 17 | -50 (50) | 2014
balance at december 31 2010 (2) | $116 | $469 | $77
(1) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $130 million of purchased loans accounted for under the level-yield method and $0 under the cost-recovery method. these balances represent the fair value of these loans at their acquisition date. the related total expected cash flows for the level-yield loans were $131 million at their acquisition dates. (2) the balance reported in the column 201ccarrying amount of loan receivable 201d consists of $315 million of loans accounted for under the level-yield method and $154 million accounted for under the cost-recovery method..
what is the difference between the beginning balance carrying amount of loan receivables and allowance? 825.0
what was this difference at the end of 2010? 392.0
what is the net difference?
|
-433.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
page 15 of 100 shareholder return performance the line graph below compares the annual percentage change in ball corporation 2019s cumulative total shareholder return on its common stock with the cumulative total return of the dow jones containers & packaging index and the s&p composite 500 stock index for the five-year period ended december 31, 2010. it assumes $100 was invested on december 31, 2005, and that all dividends were reinvested. the dow jones containers & packaging index total return has been weighted by market capitalization. total return analysis.
- | 12/31/05 | 12/31/06 | 12/31/07 | 12/31/08 | 12/31/09 | 12/31/10
ball corporation | $100.00 | $110.86 | $115.36 | $107.58 | $134.96 | $178.93
dj containers & packaging index | $100.00 | $112.09 | $119.63 | $75.00 | $105.34 | $123.56
s&p 500 index | $100.00 | $115.80 | $122.16 | $76.96 | $97.33 | $111.99
copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm) | copyright a9 2011 standard & poor 2019s a division of the mcgraw-hill companies inc. all rights reserved. (www.researchdatagroup.com/s&p.htm)
copyright a9 2011 dow jones & company. all rights reserved. | copyright a9 2011 dow jones & company. all rights reserved. | copyright a9 2011 dow jones & company. all rights reserved. | copyright a9 2011 dow jones & company. all rights reserved. | copyright a9 2011 dow jones & company. all rights reserved. | copyright a9 2011 dow jones & company. all rights reserved. | copyright a9 2011 dow jones & company. all rights reserved.
.
what was the change in price for ball corporation between 12/31/10 and 12/31/05? 78.93
so what was the percentage cumulative return during this time?
|
0.7893
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
impairment the following table presents net unrealized losses on securities available for sale as of december 31:.
(in millions) | 2011 | 2010
fair value | $99832 | $81881
amortized cost | 100013 | 82329
net unrealized loss pre-tax | $-181 (181) | $-448 (448)
net unrealized loss after-tax | $-113 (113) | $-270 (270)
the net unrealized amounts presented above excluded the remaining net unrealized losses related to reclassifications of securities available for sale to securities held to maturity. these unrealized losses related to reclassifications totaled $303 million, or $189 million after-tax, and $523 million, or $317 million after-tax, as of december 31, 2011 and 2010, respectively, and were recorded in accumulated other comprehensive income, or oci. refer to note 12 to the consolidated financial statements included under item 8. the decline in these remaining after-tax unrealized losses related to reclassifications from december 31, 2010 to december 31, 2011 resulted primarily from amortization. we conduct periodic reviews of individual securities to assess whether other-than-temporary impairment exists. to the extent that other-than-temporary impairment is identified, the impairment is broken into a credit component and a non-credit component. the credit component is recorded in our consolidated statement of income, and the non-credit component is recorded in oci to the extent that we do not intend to sell the security. our assessment of other-than-temporary impairment involves an evaluation, more fully described in note 3, of economic and security-specific factors. such factors are based on estimates, derived by management, which contemplate current market conditions and security-specific performance. to the extent that market conditions are worse than management 2019s expectations, other-than-temporary impairment could increase, in particular, the credit component that would be recorded in our consolidated statement of income. given the exposure of our investment securities portfolio, particularly mortgage- and asset-backed securities, to residential mortgage and other consumer credit risks, the performance of the u.s. housing market is a significant driver of the portfolio 2019s credit performance. as such, our assessment of other-than-temporary impairment relies to a significant extent on our estimates of trends in national housing prices. generally, indices that measure trends in national housing prices are published in arrears. as of september 30, 2011, national housing prices, according to the case-shiller national home price index, had declined by approximately 31.3% (31.3%) peak-to-current. overall, management 2019s expectation, for purposes of its evaluation of other-than-temporary impairment as of december 31, 2011, was that housing prices would decline by approximately 35% (35%) peak-to-trough. the performance of certain mortgage products and vintages of securities continues to deteriorate. in addition, management continues to believe that housing prices will decline further as indicated above. the combination of these factors has led to an increase in management 2019s overall loss expectations. our investment portfolio continues to be sensitive to management 2019s estimates of future cumulative losses. ultimately, other-than- temporary impairment is based on specific cusip-level detailed analysis of the unique characteristics of each security. in addition, we perform sensitivity analysis across each significant product type within the non-agency u.s. residential mortgage-backed portfolio. we estimate, for example, that other-than-temporary impairment of the investment portfolio could increase by approximately $10 million to $50 million, if national housing prices were to decline by 37% (37%) to 39% (39%) peak-to-trough, compared to management 2019s expectation of 35% (35%) described above. this sensitivity estimate is based on a number of factors, including, but not limited to, the level of housing prices and the timing of defaults. to the extent that such factors differ substantially from management 2019s current expectations, resulting loss estimates may differ materially from those stated. excluding the securities for which other-than-temporary impairment was recorded in 2011, management considers the aggregate decline in fair value of the remaining.
what was the total of unrealized losses related to reclassifications in 2011, before tax? 303.0
and what was it after tax? 189.0
what was, then, the impact of the tax on that total? 114.0
and between that year and the previous, 2010, what was the change in the fair value of the full unrealized losses? 17951.0
what is this change as a percentage of that fair value in 2010?
|
0.21923
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
part ii item 5. market for registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the new york stock exchange (201cnyse 201d) for the years 2010 and 2009..
2010 | high | low
quarter ended march 31 | $44.61 | $40.10
quarter ended june 30 | 45.33 | 38.86
quarter ended september 30 | 52.11 | 43.70
quarter ended december 31 | 53.14 | 49.61
2009 | high | low
quarter ended march 31 | $32.53 | $25.45
quarter ended june 30 | 34.52 | 27.93
quarter ended september 30 | 37.71 | 29.89
quarter ended december 31 | 43.84 | 35.03
on february 11, 2011, the closing price of our common stock was $56.73 per share as reported on the nyse. as of february 11, 2011, we had 397612895 outstanding shares of common stock and 463 registered holders. dividends we have not historically paid a dividend on our common stock. payment of dividends in the future, when, as and if authorized by our board of directors, would depend upon many factors, including our earnings and financial condition, restrictions under applicable law and our current and future loan agreements, our debt service requirements, our capital expenditure requirements and other factors that our board of directors may deem relevant from time to time, including the potential determination to elect reit status. in addition, the loan agreement for our revolving credit facility and term loan contain covenants that generally restrict our ability to pay dividends unless certain financial covenants are satisfied. for more information about the restrictions under the loan agreement for the revolving credit facility and term loan, our notes indentures and the loan agreement related to our securitization, see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report..
what was the closing price of the common stock in february of 2011? 56.73
and what was its highest value during the last quarter of the year before, in 2010? 53.14
by how much, then, did it change over this period?
|
3.59
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
entergy corporation and subsidiaries notes to financial statements (a) consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). (c) pursuant to the nuclear waste policy act of 1982, entergy 2019s nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service. the contracts include a one-time fee for generation prior to april 7, 1983. entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term (d) see note 10 to the financial statements for further discussion of the waterford 3 and grand gulf lease obligations. (e) the fair value excludes lease obligations of $149 million at entergy louisiana and $97 million at system energy, long-term doe obligations of $181 million at entergy arkansas, and the note payable to nypa of $95 million at entergy, and includes debt due within one year. fair values are classified as level 2 in the fair value hierarchy discussed in note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. the annual long-term debt maturities (excluding lease obligations and long-term doe obligations) for debt outstanding as of december 31, 2013, for the next five years are as follows: amount (in thousands).
- | amount (in thousands)
2014 | $385373
2015 | $1110566
2016 | $270852
2017 | $766801
2018 | $1324616
in november 2000, entergy 2019s non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction. entergy issued notes to nypa with seven annual installments of approximately $108 million commencing one year from the date of the closing, and eight annual installments of $20 million commencing eight years from the date of the closing. these notes do not have a stated interest rate, but have an implicit interest rate of 4.8% (4.8%). in accordance with the purchase agreement with nypa, the purchase of indian point 2 in 2001 resulted in entergy becoming liable to nypa for an additional $10 million per year for 10 years, beginning in september 2003. this liability was recorded upon the purchase of indian point 2 in september 2001. in july 2003 a payment of $102 million was made prior to maturity on the note payable to nypa. under a provision in a letter of credit supporting these notes, if certain of the utility operating companies or system energy were to default on other indebtedness, entergy could be required to post collateral to support the letter of credit. entergy gulf states louisiana, entergy louisiana, entergy mississippi, entergy texas, and system energy have obtained long-term financing authorizations from the ferc that extend through october 2015. entergy arkansas has obtained long-term financing authorization from the apsc that extends through december 2015. entergy new orleans has obtained long-term financing authorization from the city council that extends through july 2014. capital funds agreement pursuant to an agreement with certain creditors, entergy corporation has agreed to supply system energy with sufficient capital to: 2022 maintain system energy 2019s equity capital at a minimum of 35% (35%) of its total capitalization (excluding short- term debt);.
what was the total of annual long-term debt maturities in 2017?
|
766801.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
earnings for the first quarter of 2007 are expected to be lower than in the fourth quarter of 2006. containerboard export sales volumes are expected to decline due to scheduled first-quarter main- tenance outages. sales volumes for u.s. converted products will be higher due to more shipping days, but expected softer demand should cause the ship- ments per day to decrease. average sales price real- izations are expected to be comparable to fourth- quarter averages. an additional containerboard price increase was announced in january that is expected to be fully realized in the second quarter. costs for wood, energy, starch, adhesives and freight are expected to increase. manufacturing costs will be higher due to costs associated with scheduled main- tenance outages in the containerboard mills. euro- pean container operating results are expected to improve as seasonally higher sales volumes and improved margins more than offset slightly higher manufacturing costs. consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity. in addition to prices and volumes, major factors affecting the profitability of consumer packaging are raw material and energy costs, manufacturing efficiency and product mix. consumer packaging net sales increased 9% (9%) compared with 2005 and 7% (7%) compared with 2004. operating profits rose 8% (8%) from 2005, but declined 15% (15%) from 2004 levels. compared with 2005, higher sales volumes ($9 million), improved average sales price realizations ($33 million), reduced lack-of-order downtime ($18 million), and favorable mill oper- ations ($25 million) were partially offset by higher raw material costs ($19 million) and freight costs ($21 million), unfavorable mix ($14 million) and other costs ($21 million). consumer packaging in millions 2006 2005 2004.
in millions | 2006 | 2005 | 2004
sales | $2455 | $2245 | $2295
operating profit | $131 | $121 | $155
coated paperboard net sales of $1.5 billion in 2006 were higher than $1.3 billion in 2005 and $1.1 billion in 2004. sales volumes increased in 2006 compared with 2005, particularly in the folding car- ton board segment, reflecting improved demand for coated paperboard products. in 2006, our coated paperboard mills took 4000 tons of lack-of-order downtime, compared with 82000 tons of lack-of-order downtime in 2005. average sales price realizations were substantially improved in the cur- rent year, principally for folding carton board and cupstock board. operating profits were 51% (51%) higher in 2006 than in 2005, and 7% (7%) better than in 2004. the impact of the higher sales prices along with more favorable manufacturing operations due to strong performance at the mills more than offset higher input costs for energy and freight. foodservice net sales declined to $396 million in 2006, compared with $437 million in 2005 and $480 million in 2004, due principally to the sale of the jackson, tennessee plant in july 2005. sales vol- umes were lower in 2006 than in 2005, although average sales prices were higher due to the realiza- tion of price increases implemented during 2005. operating profits for 2006 improved over 2005 and 2004 levels largely due to the benefits from higher sales prices. raw material costs for bleached board were higher than in 2005, but manufacturing costs were more favorable due to increased productivity and reduced waste. shorewood net sales of $670 million were down from $691 million in 2005 and $687 million in 2004. sales volumes in 2006 were down from 2005 levels due to weak demand in the home entertainment and consumer products markets, although demand was strong in the tobacco segment. average sales prices for the year were lower than in 2005. operating prof- its were down significantly from both 2005 and 2004 due to the decline in sales, particularly in the higher margin home entertainment markets, higher raw material costs for bleached board and certain inventory adjustment costs. entering 2007, coated paperboard first-quarter sales volumes are expected to be seasonally stronger than in the fourth quarter 2006 for folding carton board and bristols. average sales price realizations are expected to rise with a price increase announced in january. it is anticipated that manufacturing costs will improve versus an unfavorable fourth quarter. foodservice earnings for the first quarter of 2007 are expected to decline due to seasonally weaker vol- ume. however, sales price realizations will be slightly higher, and the seasonal switch to hot cup contain- ers will have a favorable impact on product mix. shorewood sales volumes for the first quarter of 2007 are expected to seasonally decline, but the earnings impact will be partially offset by pricing improvements and an improved product mix. distribution our distribution business, principally represented by our xpedx business, markets a diverse array of products and supply chain services to customers in.
in the year of 2006, what amount from the consumer packaging sales was due to foodservice net sales? 396.0
and what was the total of those consumer packaging sales? 2455.0
what percentage, then, of this total did that amount represent?
|
0.1613
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
15. debt the tables below summarize our outstanding debt at 30 september 2016 and 2015: total debt.
30 september | 2016 | 2015
short-term borrowings | $935.8 | $1494.3
current portion of long-term debt | 371.3 | 435.6
long-term debt | 4918.1 | 3949.1
total debt | $6225.2 | $5879.0
short-term borrowings | - | -
30 september | 2016 | 2015
bank obligations | $133.1 | $234.3
commercial paper | 802.7 | 1260.0
total short-term borrowings | $935.8 | $1494.3
the weighted average interest rate of short-term borrowings outstanding at 30 september 2016 and 2015 was 1.1% (1.1%) and.8% (.8%), respectively. cash paid for interest, net of amounts capitalized, was $121.1 in 2016, $97.5 in 2015, and $132.4 in 2014..
what was the total of short-term borrowings in 2016? 935.8
and what was the current portion of long-term debt in that year? 371.3
what was, then, the combined total of both short-term borrowings and current portion of long-term debt in 2016? 1307.1
what was the total debt in that year?
|
6225.2
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
abiomed, inc. and subsidiaries notes to consolidated financial statements 2014 (continued) (7) commitments and contingencies the company applies the disclosure provisions of fin no. 45, guarantor 2019s accounting and disclosure requirements for guarantees, including guarantees of indebtedness of others, and interpretation of fasb statements no. 5, 57 and 107 and rescission of fasb interpretation no. 34 (fin no. 45) to its agreements that contain guarantee or indemnification clauses. these disclosure provisions expand those required by sfas no. 5 accounting for contingencies, by requiring that guarantors disclose certain types of guarantees, even if the likelihood of requiring the guarantor 2019s performance is remote. the following is a description of arrangements in which the company is a guarantor. product warranties 2014the company routinely accrues for estimated future warranty costs on its product sales at the time of sale. the ab5000 and bvs products are subject to rigorous regulation and quality standards. operating results could be adversely effected if the actual cost of product failures exceeds the estimated warranty provision. patent indemnifications 2014in many sales transactions, the company indemnifies customers against possible claims of patent infringement caused by the company 2019s products. the indemnifications contained within sales contracts usually do not include limits on the claims. the company has never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions. under the provisions of fin no. 45, intellectual property indemnifications require disclosure only. as of march 31, 2006, the company had entered into leases for its facilities, including its primary operating facility in danvers, massachusetts, with terms through fiscal 2010. the danvers lease may be extended, at the company 2019s option, for two successive additional periods of five years each with monthly rent charges to be determined based on then current fair rental values. the company 2019s lease for its aachen location expires in august 2008 unless an option to extend for an additional four years is exercised by the company. in december 2005 we closed our office facility in the netherlands, recording a charge of approximately $58000 for the remaining lease term. total rent expense under these leases, included in the accompanying consolidated statements of operations approximated $821000, $824000 and $1262000 for the fiscal years ended march 31, 2004, 2005 and 2006, respectively. future minimum lease payments under all significant non-cancelable operating leases as of march 31, 2006 are approximately as follows (in thousands): fiscal year ending march 31, operating leases.
fiscal year ending march 31, | operating leases
2007 | 1703
2008 | 1371
2009 | 1035
2010 | 710
total future minimum lease payments | $4819
from time-to-time, the company is involved in legal and administrative proceedings and claims of various types. while any litigation contains an element of uncertainty, management, in consultation with the company 2019s general counsel, presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened, or all of them combined, is not expected to have a material adverse effect on the company 2019s financial position, cash flow and results. on may 15, 2006 richard a. nazarian, as selling stockholder representative, filed a demand for arbitration (subsequently amended) with the boston office of the american arbitration association.
what was the total of operating leases in 2007? 1703.0
and what was it in 2008? 1371.0
what was, then, the decline over the year?
|
332.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
stock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the securities exchange act of 1934, as amended (the 201cexchange act 201d) or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of tractor supply company under the securities act of 1933, as amended, or the exchange act. the following graph compares the cumulative total stockholder return on our common stock from december 28, 2013 to december 29, 2018 (the company 2019s fiscal year-end), with the cumulative total returns of the s&p 500 index and the s&p retail index over the same period. the comparison assumes that $100 was invested on december 28, 2013, in our common stock and in each of the foregoing indices and in each case assumes reinvestment of dividends. the historical stock price performance shown on this graph is not indicative of future performance..
- | 12/28/2013 | 12/27/2014 | 12/26/2015 | 12/31/2016 | 12/30/2017 | 12/29/2018
tractor supply company | $100.00 | $104.11 | $115.45 | $103.33 | $103.67 | $117.18
s&p 500 | $100.00 | $115.76 | $116.64 | $129.55 | $157.84 | $149.63
s&p retail index | $100.00 | $111.18 | $140.22 | $148.53 | $193.68 | $217.01
.
what was the price of the tractor supply company stock in 2014? 104.11
and what was it in 2013? 100.0
what was, then, the change over the year? 4.11
what was the price of the tractor supply company stock in 2013?
|
100.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
item 1b. unresolved staff comments not applicable. item 2. properties as of december 28, 2013, our major facilities consisted of: (square feet in millions) united states countries total owned facilities1 29.9 16.7 46.6 leased facilities2 2.3 6.0 8.3.
(square feet in millions) | unitedstates | othercountries | total
owned facilities1 | 29.9 | 16.7 | 46.6
leased facilities2 | 2.3 | 6.0 | 8.3
total facilities | 32.2 | 22.7 | 54.9
1 leases on portions of the land used for these facilities expire on varying dates through 2062. 2 leases expire on varying dates through 2028 and generally include renewals at our option. our principal executive offices are located in the u.s. and a significant amount of our wafer fabrication activities are also located in the u.s. in addition to our current facilities, we are building a development fabrication facility in oregon which began r&d start-up in 2013. we expect that this new facility will allow us to widen our process technology lead. we also completed construction of a large-scale fabrication building in arizona in 2013, which is currently not in use and is not being depreciated. we recently announced that we plan to delay equipment installation in this building and leverage existing fabrication facilities, reserving this new facility for additional capacity and future technologies. outside the u.s., we have wafer fabrication facilities in israel, china, and ireland. our fabrication facility in ireland is currently transitioning to a newer process technology node, with manufacturing expected to recommence in 2015. our assembly and test facilities are located in malaysia, china, costa rica, and vietnam. in addition, we have sales and marketing offices worldwide that are generally located near major concentrations of customers. we believe that the facilities described above are suitable and adequate for our present purposes and that the productive capacity in our facilities is substantially being utilized or we have plans to utilize it. we do not identify or allocate assets by operating segment. for information on net property, plant and equipment by country, see 201cnote 27: operating segments and geographic information 201d in part ii, item 8 of this form 10-k. item 3. legal proceedings for a discussion of legal proceedings, see 201cnote 26: contingencies 201d in part ii, item 8 of this form 10-k. item 4. mine safety disclosures not applicable. table of contents.
as of december 28, 2013, what percentage of the square footage of major facilities was owned?
|
0.84882
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the defined benefit pension plans 2019 trust and $130 million to our retiree medical plans which will reduce our cash funding requirements for 2007 and 2008. in 2007, we expect to make no contributions to the defined benefit pension plans and expect to contribute $175 million to the retiree medical and life insurance plans, after giving consideration to the 2006 prepayments. the following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: (in millions) pension benefits benefits.
(in millions) | pensionbenefits | otherbenefits
2007 | $1440 | $260
2008 | 1490 | 260
2009 | 1540 | 270
2010 | 1600 | 270
2011 | 1660 | 270
years 2012 2013 2016 | 9530 | 1260
as noted previously, we also sponsor nonqualified defined benefit plans to provide benefits in excess of qualified plan limits. the aggregate liabilities for these plans at december 31, 2006 were $641 million. the expense associated with these plans totaled $59 million in 2006, $58 million in 2005 and $61 million in 2004. we also sponsor a small number of foreign benefit plans. the liabilities and expenses associated with these plans are not material to our results of operations, financial position or cash flows. note 13 2013 leases our total rental expense under operating leases was $310 million, $324 million and $318 million for 2006, 2005 and 2004, respectively. future minimum lease commitments at december 31, 2006 for all operating leases that have a remaining term of more than one year were $1.1 billion ($288 million in 2007, $254 million in 2008, $211 million in 2009, $153 million in 2010, $118 million in 2011 and $121 million in later years). certain major plant facilities and equipment are furnished by the u.s. government under short-term or cancelable arrangements. note 14 2013 legal proceedings, commitments and contingencies we are a party to or have property subject to litigation and other proceedings, including matters arising under provisions relating to the protection of the environment. we believe the probability is remote that the outcome of these matters will have a material adverse effect on the corporation as a whole. we cannot predict the outcome of legal proceedings with certainty. these matters include the following items, all of which have been previously reported: on march 27, 2006, we received a subpoena issued by a grand jury in the united states district court for the northern district of ohio. the subpoena requests documents related to our application for patents issued in the united states and the united kingdom relating to a missile detection and warning technology. we are cooperating with the government 2019s investigation. on february 6, 2004, we submitted a certified contract claim to the united states requesting contractual indemnity for remediation and litigation costs (past and future) related to our former facility in redlands, california. we submitted the claim consistent with a claim sponsorship agreement with the boeing company (boeing), executed in 2001, in boeing 2019s role as the prime contractor on the short range attack missile (sram) program. the contract for the sram program, which formed a significant portion of our work at the redlands facility, had special contractual indemnities from the u.s. air force, as authorized by public law 85-804. on august 31, 2004, the united states denied the claim. our appeal of that decision is pending with the armed services board of contract appeals. on august 28, 2003, the department of justice (the doj) filed complaints in partial intervention in two lawsuits filed under the qui tam provisions of the civil false claims act in the united states district court for the western district of kentucky, united states ex rel. natural resources defense council, et al v. lockheed martin corporation, et al, and united states ex rel. john d. tillson v. lockheed martin energy systems, inc., et al. the doj alleges that we committed violations of the resource conservation and recovery act at the paducah gaseous diffusion plant by not properly handling, storing.
what is the rental expense under operating leases in 2005? 324.0
what about in 2004? 318.0
what is the net change?
|
6.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the future minimum lease commitments under these leases at december 31, 2010 are as follows (in thousands): years ending december 31:.
2011 | $62465
2012 | 54236
2013 | 47860
2014 | 37660
2015 | 28622
thereafter | 79800
future minimum lease payments | $310643
rental expense for operating leases was approximately $66.9 million, $57.2 million and $49.0 million during the years ended december 31, 2010, 2009 and 2008, respectively. in connection with the acquisitions of several businesses, we entered into agreements with several sellers of those businesses, some of whom became stockholders as a result of those acquisitions, for the lease of certain properties used in our operations. typical lease terms under these agreements include an initial term of five years, with three to five five-year renewal options and purchase options at various times throughout the lease periods. we also maintain the right of first refusal concerning the sale of the leased property. lease payments to an employee who became an officer of the company after the acquisition of his business were approximately $1.0 million, $0.9 million and $0.9 million during each of the years ended december 31, 2010, 2009 and 2008, respectively. we guarantee the residual values of the majority of our truck and equipment operating leases. the residual values decline over the lease terms to a defined percentage of original cost. in the event the lessor does not realize the residual value when a piece of equipment is sold, we would be responsible for a portion of the shortfall. similarly, if the lessor realizes more than the residual value when a piece of equipment is sold, we would be paid the amount realized over the residual value. had we terminated all of our operating leases subject to these guarantees at december 31, 2010, the guaranteed residual value would have totaled approximately $31.4 million. we have not recorded a liability for the guaranteed residual value of equipment under operating leases as the recovery on disposition of the equipment under the leases is expected to approximate the guaranteed residual value. litigation and related contingencies in december 2005 and may 2008, ford global technologies, llc filed complaints with the international trade commission against us and others alleging that certain aftermarket parts imported into the u.s. infringed on ford design patents. the parties settled these matters in april 2009 pursuant to a settlement arrangement that expires in september 2011. pursuant to the settlement, we (and our designees) became the sole distributor in the u.s. of aftermarket automotive parts that correspond to ford collision parts that are covered by a u.s. design patent. we have paid ford an upfront fee for these rights and will pay a royalty for each such part we sell. the amortization of the upfront fee and the royalty expenses are reflected in cost of goods sold on the accompanying consolidated statements of income. we also have certain other contingencies resulting from litigation, claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business. we currently expect that the resolution of such contingencies will not materially affect our financial position, results of operations or cash flows..
between the years of 2008 and 2009, what was the change in the rental expense? 8.2
and what is this change as a percentage of that expense in 2008? 0.16735
and over the subsequent year, from 2009 to 2010, what was that change? 9.7
what percentage does this 2009-2010 change represent in relation to the 2009 rental expense?
|
0.16958
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the fair value of the psu award at the date of grant is amortized to expense over the performance period, which is typically three years after the date of the award, or upon death, disability or reaching the age of 58. as of december 31, 2017, pmi had $34 million of total unrecognized compensation cost related to non-vested psu awards. this cost is recognized over a weighted-average performance cycle period of two years, or upon death, disability or reaching the age of 58. during the years ended december 31, 2017, and 2016, there were no psu awards that vested. pmi did not grant any psu awards during note 10. earnings per share: unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and therefore are included in pmi 2019s earnings per share calculation pursuant to the two-class method. basic and diluted earnings per share (201ceps 201d) were calculated using the following:.
(in millions) | for the years ended december 31, 2017 | for the years ended december 31, 2016 | for the years ended december 31, 2015
net earnings attributable to pmi | $6035 | $6967 | $6873
less distributed and undistributed earnings attributable to share-based payment awards | 14 | 19 | 24
net earnings for basic and diluted eps | $6021 | $6948 | $6849
weighted-average shares for basic eps | 1552 | 1551 | 1549
plus contingently issuable performance stock units (psus) | 1 | 2014 | 2014
weighted-average shares for diluted eps | 1553 | 1551 | 1549
for the 2017, 2016 and 2015 computations, there were no antidilutive stock options..
what was the net change in value of net earnings attributable to pmi from 2016 to 2017? -932.0
what was the 2016 value? 6967.0
what is the change over the 2016 value?
|
-0.13377
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
repurchase of equity securities the following table provides information regarding our purchases of equity securities during the fourth quarter of 2008: number of shares purchased average paid per share2 total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs.
- | total number of shares purchased | average price paid per share2 | total number of shares purchased as part of publicly announced plans or programs | maximum number ofshares that may yet be purchased under the plans or programs
october 1-31 | 29704 | $5.99 | 2014 | 2014
november 1-30 | 4468 | $3.24 | 2014 | 2014
december 1-31 | 12850 | $3.98 | 2014 | 2014
total1 | 47022 | $5.18 | 2014 | 2014
total1................................ 47022 $5.18 2014 2014 1 consists of restricted shares of our common stock withheld under the terms of grants under employee stock compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares during each month of the fourth quarter of 2008 (the 201cwithheld shares 201d). 2 the average price per month of the withheld shares was calculated by dividing the aggregate value of the tax withholding obligations for each month by the aggregate number of shares of our common stock withheld each month..
what was the total value of the shares purchased in october? 177926.96
and what was it for november?
|
14476.32
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the securities and exchange commission, nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934, each as amended, except to the extent that the company specifically incorporates it by reference into such filing. the following graph shows a five-year comparison of cumulative total shareowners 2019 returns for our class b common stock, the s&p 500 index, and the dow jones transportation average. the comparison of the total cumulative return on investment, which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods, assumes that $100 was invested on december 31, 2001 in the s&p 500 index, the dow jones transportation average, and the class b common stock of united parcel service, inc. comparison of five year cumulative total return $40.00 $60.00 $80.00 $100.00 $120.00 $140.00 $160.00 $180.00 $200.00 2001 2002 2003 2004 2005 2006 s&p 500 ups dj transport.
- | 12/31/01 | 12/31/02 | 12/31/03 | 12/31/04 | 12/31/05 | 12/31/06
united parcel service inc. | $100.00 | $117.19 | $140.49 | $163.54 | $146.35 | $148.92
s&p 500 index | $100.00 | $77.90 | $100.24 | $111.15 | $116.61 | $135.02
dow jones transportation average | $100.00 | $88.52 | $116.70 | $149.06 | $166.42 | $182.76
securities authorized for issuance under equity compensation plans the following table provides information as of december 31, 2006 regarding compensation plans under which our class a common stock is authorized for issuance. these plans do not authorize the issuance of our class b common stock..
what was the return for united parcel service inc. in 2006? 148.92
and what was the change in that return from 2001 to 2006?
|
48.92
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the notional amount of these unfunded letters of credit was $1.4 billion as of december 31, 2008 and december 31, 2007. the amount funded was insignificant with no amounts 90 days or more past due or on a non-accrual status at december 31, 2008 and december 31, 2007. these items have been classified appropriately in trading account assets or trading account liabilities on the consolidated balance sheet. changes in fair value of these items are classified in principal transactions in the company 2019s consolidated statement of income. other items for which the fair-value option was selected in accordance with sfas 159 the company has elected the fair-value option for the following eligible items, which did not affect opening retained earnings: 2022 certain credit products; 2022 certain investments in private equity and real estate ventures and certain equity-method investments; 2022 certain structured liabilities; 2022 certain non-structured liabilities; and 2022 certain mortgage loans certain credit products citigroup has elected the fair-value option for certain originated and purchased loans, including certain unfunded loan products, such as guarantees and letters of credit, executed by citigroup 2019s trading businesses. none of these credit products is a highly leveraged financing commitment. significant groups of transactions include loans and unfunded loan products that are expected to be either sold or securitized in the near term, or transactions where the economic risks are hedged with derivative instruments such as purchased credit default swaps or total return swaps where the company pays the total return on the underlying loans to a third party. citigroup has elected the fair-value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplifications. fair value was not elected for most lending transactions across the company, including where those management objectives would not be met. the following table provides information about certain credit products carried at fair value:.
in millions of dollars | 2008 trading assets | 2008 loans | 2008 trading assets | loans
carrying amount reported on the consolidated balance sheet | $16254 | $2315 | $26020 | $3038
aggregate unpaid principal balance in excess of fair value | $6501 | $3 | $899 | $-5 (5)
balance on non-accrual loans or loans more than 90 days past due | $77 | $1113 | $186 | $1292
aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days pastdue | $190 | $-4 (4) | $68 | $2014
in millions of dollars trading assets loans trading assets loans carrying amount reported on the consolidated balance sheet $16254 $2315 $26020 $3038 aggregate unpaid principal balance in excess of fair value $6501 $3 $899 $(5) balance on non-accrual loans or loans more than 90 days past due $77 $1113 $186 $1292 aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due $190 $(4) $68 $2014 in addition to the amounts reported above, $72 million and $141 million of unfunded loan commitments related to certain credit products selected for fair-value accounting were outstanding as of december 31, 2008 and december 31, 2007, respectively. changes in fair value of funded and unfunded credit products are classified in principal transactions in the company 2019s consolidated statement of income. related interest revenue is measured based on the contractual interest rates and reported as interest revenue on trading account assets or loans depending on their balance sheet classifications. the changes in fair value for the years ended december 31, 2008 and 2007 due to instrument-specific credit risk totaled to a loss of $38 million and $188 million, respectively. certain investments in private equity and real estate ventures and certain equity method investments citigroup invests in private equity and real estate ventures for the purpose of earning investment returns and for capital appreciation. the company has elected the fair-value option for certain of these ventures, because such investments are considered similar to many private equity or hedge fund activities in our investment companies, which are reported at fair value. the fair-value option brings consistency in the accounting and evaluation of certain of these investments. as required by sfas 159, all investments (debt and equity) in such private equity and real estate entities are accounted for at fair value. these investments are classified as investments on citigroup 2019s consolidated balance sheet. citigroup also holds various non-strategic investments in leveraged buyout funds and other hedge funds that previously were required to be accounted for under the equity method. the company elected fair-value accounting to reduce operational and accounting complexity. since the funds account for all of their underlying assets at fair value, the impact of applying the equity method to citigroup 2019s investment in these funds was equivalent to fair-value accounting. thus, this fair-value election had no impact on opening retained earnings. these investments are classified as other assets on citigroup 2019s consolidated balance sheet. changes in the fair values of these investments are classified in other revenue 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 exceeds the aggregate fair value of such instruments by $277 million as of december 31, 2008 and $7 million as of december 31, 2007. 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)..
what was the carrying amount reported on the consolidated balance sheet trading assets in 2008? 16254.0
and what was it in 2007? 26020.0
what was, then, the change over the year? -9766.0
and how much does this change represent in relation to the 2007 carrying amount, in percentage?
|
-0.37533
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
54| | duke realty corporation annual report 2009 net income (loss) per common share basic net income (loss) per common share is computed by dividing net income (loss) attributable to common shareholders, less dividends on share-based awards expected to vest, by the weighted average number of common shares outstanding for the period. diluted net income (loss) per common share is computed by dividing the sum of basic net income (loss) attributable to common shareholders and the noncontrolling interest in earnings allocable to units not owned by us (to the extent the units are dilutive), by the sum of the weighted average number of common shares outstanding and, to the extent they are dilutive, limited partnership units outstanding, as well as any potential dilutive securities for the period. during the first quarter of 2009, we adopted a new accounting standard (fasb asc 260-10) on participating securities, which we have applied retrospectively to prior period calculations of basic and diluted earnings per common share. pursuant to this new standard, certain of our share-based awards are considered participating securities because they earn dividend equivalents that are not forfeited even if the underlying award does not vest. the following table reconciles the components of basic and diluted net income (loss) per common share (in thousands):.
- | 2009 | 2008 | 2007
net income (loss) attributable to common shareholders | $-333601 (333601) | $50408 | $211942
less: dividends on share-based awards expected to vest | -1759 (1759) | -1631 (1631) | -1149 (1149)
basic net income (loss) attributable to common shareholders | -335360 (335360) | 48777 | 210793
noncontrolling interest in earnings of common unitholders (1) | - | 2640 | 13998
diluted net income (loss) attributable to common shareholders | $-335360 (335360) | $51417 | $224791
weighted average number of common shares outstanding | 201206 | 146915 | 139255
weighted average partnership units outstanding | - | 7619 | 9204
other potential dilutive shares (2) | - | 19 | 791
weighted average number of common shares and potential dilutive securities | 201206 | 154553 | 149250
weighted average number of common shares and potential diluted securities 201206 154553 149250 (1) the partnership units are anti-dilutive for the year ended december 31, 2009, as a result of the net loss for that period. therefore, 6687 units (in thousands) are excluded from the weighted average number of common shares and potential dilutive securities for the year ended december 31, 2009 and $11099 noncontrolling interest in earnings of common unitholders (in thousands) is excluded from diluted net loss attributable to common shareholders for the year ended december 31, 2009. (2) excludes (in thousands of shares) 7872; 8219 and 1144 of anti-dilutive shares for the years ended december 31, 2009, 2008 and 2007, respectively related to stock-based compensation plans. also excludes (in thousands of shares) the exchangeable notes that have 8089; 11771 and 11751 of anti-dilutive shares for the years ended december 31, 2009, 2008 and 2007, respectively. federal income taxes we have elected to be taxed as a real estate investment trust (201creit 201d) under the internal revenue code of 1986, as amended. to qualify as a reit, we must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% (90%) of our adjusted taxable income to our stockholders. management intends to continue to adhere to these requirements and to maintain our reit status. as a reit, we are entitled to a tax deduction for some or all of the dividends we pay to shareholders. accordingly, we generally will not be subject to federal income taxes as long as we distribute an amount equal to or in excess of our taxable income currently to shareholders. we are also generally subject to federal income taxes on any taxable income that is not currently distributed to our shareholders. if we fail to qualify as a reit in any taxable year, we will be subject to federal income taxes and may not be able to qualify as a reit for four subsequent taxable years. reit qualification reduces, but does not eliminate, the amount of state and local taxes we pay. in addition, our financial statements include the operations of taxable corporate subsidiaries that are not entitled to a dividends paid deduction and are subject to corporate federal, state and local income taxes. as a reit, we may also be subject to certain federal excise taxes if we engage in certain types of transactions..
what was the net income (loss) attributable to common shareholders in 2008? 50408.0
and what was it in 2007? 211942.0
what was, then, the change over the year?
|
-161534.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
note 17. accumulated other comprehensive losses: pmi's accumulated other comprehensive losses, net of taxes, consisted of the following:.
(losses) earnings (in millions) | (losses) earnings 2015 | (losses) earnings 2014 | 2013
currency translation adjustments | $-6129 (6129) | $-3929 (3929) | $-2207 (2207)
pension and other benefits | -3332 (3332) | -3020 (3020) | -2046 (2046)
derivatives accounted for as hedges | 59 | 123 | 63
total accumulated other comprehensive losses | $-9402 (9402) | $-6826 (6826) | $-4190 (4190)
reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact, for each of the components above, that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31, 2015, 2014, and 2013. the movement in currency translation adjustments for the year ended december 31, 2013, was also impacted by the purchase of the remaining shares of the mexican tobacco business. in addition, $1 million, $5 million and $12 million of net currency translation adjustment gains were transferred from other comprehensive earnings to marketing, administration and research costs in the consolidated statements of earnings for the years ended december 31, 2015, 2014 and 2013, respectively, upon liquidation of subsidiaries. for additional information, see note 13. benefit plans and note 15. financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments. note 18. colombian investment and cooperation agreement: on june 19, 2009, pmi announced that it had signed an agreement with the republic of colombia, together with the departments of colombia and the capital district of bogota, to promote investment and cooperation with respect to the colombian tobacco market and to fight counterfeit and contraband tobacco products. the investment and cooperation agreement provides $200 million in funding to the colombian governments over a 20-year period to address issues of mutual interest, such as combating the illegal cigarette trade, including the threat of counterfeit tobacco products, and increasing the quality and quantity of locally grown tobacco. as a result of the investment and cooperation agreement, pmi recorded a pre-tax charge of $135 million in the operating results of the latin america & canada segment during the second quarter of 2009. at december 31, 2015 and 2014, pmi had $73 million and $71 million, respectively, of discounted liabilities associated with the colombian investment and cooperation agreement. these discounted liabilities are primarily reflected in other long-term liabilities on the consolidated balance sheets and are expected to be paid through 2028. note 19. rbh legal settlement: on july 31, 2008, rothmans inc. ("rothmans") announced the finalization of a cad 550 million settlement (or approximately $540 million, based on the prevailing exchange rate at that time) between itself and rothmans, benson & hedges inc. ("rbh"), on the one hand, and the government of canada and all 10 provinces, on the other hand. the settlement resolved the royal canadian mounted police's investigation relating to products exported from canada by rbh during the 1989-1996 period. rothmans' sole holding was a 60% (60%) interest in rbh. the remaining 40% (40%) interest in rbh was owned by pmi..
what is the value of total accumulated other comprehensive losses in 2014? 9402.0
what is the value in 2015? 6826.0
what is the net difference?
|
2576.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
notes to consolidated financial statements 2014 (continued) (amounts in millions, except per share amounts) a summary of the remaining liability for the 2007, 2003 and 2001 restructuring programs is as follows: program program program total.
- | 2007 program | 2003 program | 2001 program | total
liability at december 31 2006 | $2014 | $12.6 | $19.2 | $31.8
net charges (reversals) and adjustments | 19.1 | -0.5 (0.5) | -5.2 (5.2) | 13.4
payments and other1 | -7.2 (7.2) | -3.1 (3.1) | -5.3 (5.3) | -15.6 (15.6)
liability at december 31 2007 | $11.9 | $9.0 | $8.7 | $29.6
net charges and adjustments | 4.3 | 0.8 | 0.7 | 5.8
payments and other1 | -15.0 (15.0) | -4.1 (4.1) | -3.5 (3.5) | -22.6 (22.6)
liability at december 31 2008 | $1.2 | $5.7 | $5.9 | $12.8
1 includes amounts representing adjustments to the liability for changes in foreign currency exchange rates. other reorganization-related charges other reorganization-related charges relate to our realignment of our media businesses into a newly created management entity called mediabrands and the 2006 merger of draft worldwide and foote, cone and belding worldwide to create draftfcb. charges related to severance and terminations costs and lease termination and other exit costs. we expect charges associated with mediabrands to be completed during the first half of 2009. charges related to the creation of draftfcb in 2006 are complete. the charges were separated from the rest of our operating expenses within the consolidated statements of operations because they did not result from charges that occurred in the normal course of business..
as of december 31, 2008, what was the total liability from the 2003 and the 2007 program, combined? 6.9
including the 2001 program, what becomes this total liability?
|
12.8
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
the following table shows the impact of catastrophe losses and related reinstatement premiums and the impact of prior period development on our consolidated loss and loss expense ratio for the periods indicated..
- | 2010 | 2009 | 2008
loss and loss expense ratio as reported | 59.2% (59.2%) | 58.8% (58.8%) | 60.6% (60.6%)
catastrophe losses and related reinstatement premiums | (3.2)% (%) | (1.2)% (%) | (4.7)% (%)
prior period development | 4.6% (4.6%) | 4.9% (4.9%) | 6.8% (6.8%)
large assumed loss portfolio transfers | (0.3)% (%) | (0.8)% (%) | 0.0% (0.0%)
loss and loss expense ratio adjusted | 60.3% (60.3%) | 61.7% (61.7%) | 62.7% (62.7%)
we recorded net pre-tax catastrophe losses of $366 million in 2010 compared with net pre-tax catastrophe losses of $137 million and $567 million in 2009 and 2008, respectively. the catastrophe losses for 2010 were primarily related to weather- related events in the u.s., earthquakes in chile, mexico, and new zealand, and storms in australia and europe. the catastrophe losses for 2009 were primarily related to an earthquake in asia, floods in europe, several weather-related events in the u.s., and a european windstorm. for 2008, the catastrophe losses were primarily related to hurricanes gustav and ike. prior period development arises from changes to loss estimates recognized in the current year that relate to loss reserves first reported in previous calendar years and excludes the effect of losses from the development of earned premium from pre- vious accident years. we experienced $503 million of net favorable prior period development in our p&c segments in 2010. this compares with net favorable prior period development in our p&c segments of $576 million and $814 million in 2009 and 2008, respectively. refer to 201cprior period development 201d for more information. the adjusted loss and loss expense ratio declined in 2010, compared with 2009, primarily due to the impact of the crop settlements, non-recurring premium adjustment and the reduction in assumed loss portfolio business, which is written at higher loss ratios than other types of business. our policy acquisition costs include commissions, premium taxes, underwriting, and other costs that vary with, and are primarily related to, the production of premium. administrative expenses include all other operating costs. our policy acquis- ition cost ratio increased in 2010, compared with 2009. the increase was primarily related to the impact of crop settlements, which generated higher profit-share commissions and a lower adjustment to net premiums earned, as well as the impact of reinstatement premiums expensed in connection with catastrophe activity and changes in business mix. our administrative expense ratio increased in 2010, primarily due to the impact of the crop settlements, reinstatement premiums expensed, and increased costs in our international operations. although the crop settlements generate minimal administrative expenses, they resulted in lower adjustment to net premiums earned in 2010, compared with 2009. administrative expenses in 2010, were partially offset by higher net results generated by our third party claims administration business, esis, the results of which are included within our administrative expenses. esis generated $85 million in net results in 2010, compared with $26 million in 2009. the increase is primarily from non-recurring sources. our policy acquisition cost ratio was stable in 2009, compared with 2008, as increases in our combined insurance operations were offset by more favorable final crop year settlement of profit share commissions. administrative expenses increased in 2009, primarily due to the inclusion of administrative expenses related to combined insurance for the full year and costs associated with new product expansion in our domestic retail operation and in our personal lines business. our effective income tax rate, which we calculate as income tax expense divided by income before income tax, is depend- ent upon the mix of earnings from different jurisdictions with various tax rates. a change in the geographic mix of earnings would change the effective income tax rate. our effective income tax rate was 15 percent in 2010, compared with 17 percent and 24 percent in 2009 and 2008, respectively. the decrease in our effective income tax rate in 2010, was primarily due to a change in the mix of earnings to lower tax-paying jurisdictions, a decrease in the amount of unrecognized tax benefits which was the result of a settlement with the u.s. internal revenue service appeals division regarding federal tax returns for the years 2002-2004, and the recognition of a non-taxable gain related to the acquisition of rain and hail. the 2009 year included a reduction of a deferred tax valuation allowance related to investments. for 2008, our effective income tax rate was adversely impacted by a change in mix of earnings due to the impact of catastrophe losses in lower tax-paying jurisdictions. prior period development the favorable prior period development, inclusive of the life segment, of $512 million during 2010 was the net result of sev- eral underlying favorable and adverse movements. with respect to ace 2019s crop business, ace regularly receives reports from its managing general agent (mga) relating to the previous crop year (s) in subsequent calendar quarters and this typically results.
what were, in millions, the total catastrophe losses in the years of 2009 and 2010, combined? 503.0
and what were those catastrophe losses in 2008, also in millions? 567.0
including, then, 2008, what then becomes that total of losses?
|
1070.0
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
item 5. market for the registrant 2019s common equity, related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock, the standard & poor 2019s 500 composite stock index (201cs&p 500 index 201d) and our peer group (201cloews peer group 201d) for the five years ended december 31, 2015. the graph assumes that the value of the investment in our common stock, the s&p 500 index and the loews peer group was $100 on december 31, 2010 and that all dividends were reinvested..
- | 2010 | 2011 | 2012 | 2013 | 2014 | 2015
loews common stock | 100.0 | 97.37 | 106.04 | 126.23 | 110.59 | 101.72
s&p 500 index | 100.0 | 102.11 | 118.45 | 156.82 | 178.29 | 180.75
loews peer group (a) | 100.0 | 101.59 | 115.19 | 145.12 | 152.84 | 144.70
(a) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries: ace limited, w.r. berkley corporation, the chubb corporation, energy transfer partners l.p., ensco plc, the hartford financial services group, inc., kinder morgan energy partners, l.p. (included through november 26, 2014 when it was acquired by kinder morgan inc.), noble corporation, spectra energy corp, transocean ltd. and the travelers companies, inc. dividend information we have paid quarterly cash dividends on loews common stock in each year since 1967. regular dividends of $0.0625 per share of loews common stock were paid in each calendar quarter of 2015 and 2014..
what is the price of the s&p 500 index in 2015?
|
180.75
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
stock price performance the following graph shows a comparison of the cumulative total return on our common stock, the standard & poor's 500 index and the standard & poor's 500 retail index. the graph assumes that the value of an investment in our common stock and in each such index was $100 on december 30, 2006, and that any dividends have been reinvested. the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock. comparison of cumulative total return among advance auto parts, inc., s&p 500 index and s&p 500 retail index company/index advance auto parts s&p 500 index s&p retail index december 30, $100.00 100.00 100.00 december 29, $108.00 104.24 january 3, $97.26 january 2, $116.01 january 1, $190.41 101.84 december 31, $201.18 104.81.
company/index | december 30 2006 | december 29 2007 | january 3 2009 | january 2 2010 | january 1 2011 | december 31 2011
advance auto parts | $100.00 | $108.00 | $97.26 | $116.01 | $190.41 | $201.18
s&p 500 index | 100.00 | 104.24 | 65.70 | 78.62 | 88.67 | 88.67
s&p retail index | 100.00 | 82.15 | 58.29 | 82.36 | 101.84 | 104.81
stock price performance the following graph shows a comparison of the cumulative total return on our common stock, the standard & poor's 500 index and the standard & poor's 500 retail index. the graph assumes that the value of an investment in our common stock and in each such index was $100 on december 30, 2006, and that any dividends have been reinvested. the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock. comparison of cumulative total return among advance auto parts, inc., s&p 500 index and s&p 500 retail index company/index advance auto parts s&p 500 index s&p retail index december 30, $100.00 100.00 100.00 december 29, $108.00 104.24 january 3, $97.26 january 2, $116.01 january 1, $190.41 101.84 december 31, $201.18 104.81.
what was the price performance of the advance auto parts stock in january 2009?
|
97.26
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
19. income taxes (continued) capital loss carryforwards of $69 million and $90 million, which were acquired in the bgi transaction and will expire on or before 2013. at december 31, 2012 and 2011, the company had $95 million and $95 million of valuation allowances for deferred income tax assets, respectively, recorded on the consolidated statements of financial condition. the year- over-year increase in the valuation allowance primarily related to certain foreign deferred income tax assets. goodwill recorded in connection with the quellos transaction has been reduced during the period by the amount of tax benefit realized from tax-deductible goodwill. see note 9, goodwill, for further discussion. current income taxes are recorded net in the consolidated statements of financial condition when related to the same tax jurisdiction. as of december 31, 2012, the company had current income taxes receivable and payable of $102 million and $121 million, respectively, recorded in other assets and accounts payable and accrued liabilities, respectively. as of december 31, 2011, the company had current income taxes receivable and payable of $108 million and $102 million, respectively, recorded in other assets and accounts payable and accrued liabilities, respectively. the company does not provide deferred taxes on the excess of the financial reporting over tax basis on its investments in foreign subsidiaries that are essentially permanent in duration. the excess totaled $2125 million and $1516 million as of december 31, 2012 and 2011, respectively. the determination of the additional deferred income taxes on the excess has not been provided because it is not practicable due to the complexities associated with its hypothetical calculation. the following tabular reconciliation presents the total amounts of gross unrecognized tax benefits: year ended december 31, (dollar amounts in millions) 2012 2011 2010.
(dollar amounts in millions) | year ended december 31, 2012 | year ended december 31, 2011 | year ended december 31, 2010
balance at january 1 | $349 | $307 | $285
additions for tax positions of prior years | 4 | 22 | 10
reductions for tax positions of prior years | -1 (1) | -1 (1) | -17 (17)
additions based on tax positions related to current year | 69 | 46 | 35
lapse of statute of limitations | 2014 | 2014 | -8 (8)
settlements | -29 (29) | -25 (25) | -2 (2)
positions assumed in acquisitions | 12 | 2014 | 4
balance at december 31 | $404 | $349 | $307
included in the balance of unrecognized tax benefits at december 31, 2012, 2011 and 2010, respectively, are $250 million, $226 million and $194 million of tax benefits that, if recognized, would affect the effective tax rate. the company recognizes interest and penalties related to income tax matters as a component of income tax expense. related to the unrecognized tax benefits noted above, the company accrued interest and penalties of $3 million during 2012 and in total, as of december 31, 2012, had recognized a liability for interest and penalties of $69 million. the company accrued interest and penalties of $10 million during 2011 and in total, as of december 31, 2011, had recognized a liability for interest and penalties of $66 million. the company accrued interest and penalties of $8 million during 2010 and in total, as of december 31, 2010, had recognized a liability for interest and penalties of $56 million. pursuant to the amended and restated stock purchase agreement, the company has been indemnified by barclays for $73 million and guggenheim for $6 million of unrecognized tax benefits. blackrock is subject to u.s. federal income tax, state and local income tax, and foreign income tax in multiple jurisdictions. tax years after 2007 remain open to u.s. federal income tax examination, tax years after 2005 remain open to state and local income tax examination, and tax years after 2006 remain open to income tax examination in the united kingdom. with few exceptions, as of december 31, 2012, the company is no longer subject to u.s. federal, state, local or foreign examinations by tax authorities for years before 2006. the internal revenue service (201cirs 201d) completed its examination of blackrock 2019s 2006 and 2007 tax years in march 2011. in november 2011, the irs commenced its examination of blackrock 2019s 2008 and 2009 tax years, and while the impact on the consolidated financial statements is undetermined, it is not expected to be material. in july 2011, the irs commenced its federal income tax audit of the bgi group, which blackrock acquired in december 2009. the tax years under examination are 2007 through december 1, 2009, and while the impact on the consolidated financial statements is undetermined, it is not expected to be material. the company is currently under audit in several state and local jurisdictions. the significant state and local income tax examinations are in california for tax years 2004 through 2006, new york city for tax years 2007 through 2008, and new jersey for tax years 2003 through 2009. no state and local income tax audits cover years earlier than 2007 except for california, new jersey and new york city. no state and local income tax audits are expected to result in an assessment material to the consolidated financial statements..
what is the ratio of the balance at the end of 2012 to the beginning of 2010?
|
1.41754
|
As a helpful financial assistant, your expertise is required for the following tasks: 'ConvFinQA', 'FiQA_SA', 'FPB', 'Headline', and 'NER'. Please provide answers honestly and succinctly.
|
republic services, inc. notes to consolidated financial statements 2014 (continued) the following table summarizes the activity in our gross unrecognized tax benefits for the years ended december 31:.
- | 2015 | 2014 | 2013
balance at beginning of year | $70.1 | $72.0 | $84.7
additions based on tax positions related to current year | 0.2 | 0.8 | 0.3
additions for tax positions of prior years | 1.4 | 5.0 | 11.4
reductions for tax positions of prior years | -10.2 (10.2) | -6.0 (6.0) | -2.4 (2.4)
reductions for tax positions resulting from lapse of statute of limitations | -0.6 (0.6) | -0.2 (0.2) | -1.3 (1.3)
settlements | -13.9 (13.9) | -1.5 (1.5) | -20.7 (20.7)
balance at end of year | $47.0 | $70.1 | $72.0
during 2015, we settled tax matters in various states and puerto rico which reduced our gross unrecognized tax benefits by $13.9 million. during 2014, we settled tax matters in various jurisdictions and reduced our gross unrecognized tax benefits by $1.5 million. during 2013, we settled with the irs appeals division and the joint committee on taxation our 2009 and 2010 tax years. the resolution of these tax periods in addition to various state tax resolutions during the year reduced our gross unrecognized tax benefits by $20.7 million. included in our gross unrecognized tax benefits as of december 31, 2015 and 2014 are $30.5 million and $45.6 million of unrecognized tax benefits (net of the federal benefit on state matters) that, if recognized, would affect our effective income tax rate in future periods. we recognize interest and penalties as incurred within the provision for income taxes in our consolidated statements of income. related to the unrecognized tax benefits previously noted, we recorded interest expense of approximately $1.2 million during 2015 and, in total as of december 31, 2015, have recognized a liability for penalties of $0.5 million and interest of $10.3 million. during 2014, we accrued interest of approximately $1.5 million and, in total as of december 31, 2014, had recognized a liability for penalties of $0.5 million and interest of $18.7 million. during 2013, we accrued interest of approximately $1.2 million and, in total as of december 31, 2013, had recognized a liability for penalties of $0.5 million and interest of $17.0 million. gross unrecognized benefits that we expect to settle in the following twelve months are in the range of $0 to $10 million; however, it is reasonably possible that the amount of unrecognized tax benefits may either increase or decrease in the next twelve months. we are currently under examination or administrative review by state and local taxing authorities for various tax years. these state audits are ongoing. we believe the recorded liabilities for uncertain tax positions are adequate. however, a significant assessment against us in excess of the liabilities recorded could have a material adverse effect on our consolidated financial position, results of operations or cash flows..
what is the value of gross unrecognized tax benefits at the end of 2015? 47.0
what is the value at the end of 2014? 70.1
what is the 2015 value less the 2014? -23.1
what is the net change over the 2014 value?
|
-0.32953
|
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.