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MehdiHosseiniMoghadam

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[ "common stock from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to stock price , business and market conditions and other factors .", "we have been funding and expect to continue to fund stock repurchases through a combination of cash on hand and cash generated by operations .", "in the future , we may also choose to fund our stock repurchase program under our revolving credit facility or future financing transactions .", "there were no repurchases of our series a and b common stock during the three months ended december 31 , 2013 .", "the company first announced its stock repurchase program on august 3 , 2010 .", "stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , scripps network interactive , inc. , time warner , inc. , twenty-first century fox , inc .", "class a common stock ( news corporation class a common stock prior to june 2013 ) , viacom , inc .", "class b common stock and the walt disney company .", "the graph assumes $ 100 originally invested on december 31 , 2008 in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the years ended december 31 , 2009 , 2010 , 2011 , 2012 and 2013 .", "december 31 , december 31 , december 31 , december 31 , december 31 , december 31 ." ]

[ "equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2014 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference. ." ]

[ [ "", "December 31,2008", "December 31,2009", "December 31,2010", "December 31,2011", "December 31,2012", "December 31,2013" ], [ "DISCA", "$100.00", "$216.60", "$294.49", "$289.34", "$448.31", "$638.56" ], [ "DISCB", "$100.00", "$207.32", "$287.71", "$277.03", "$416.52", "$602.08" ], [ "DISCK", "$100.00", "$198.06", "$274.01", "$281.55", "$436.89", "$626.29" ], [ "S&P 500", "$100.00", "$123.45", "$139.23", "$139.23", "$157.90", "$204.63" ], [ "Peer Group", "$100.00", "$151.63", "$181.00", "$208.91", "$286.74", "$454.87" ] ]

[ [ "", "december 312008", "december 312009", "december 312010", "december 312011", "december 312012", "december 312013" ], [ "disca", "$ 100.00", "$ 216.60", "$ 294.49", "$ 289.34", "$ 448.31", "$ 638.56" ], [ "discb", "$ 100.00", "$ 207.32", "$ 287.71", "$ 277.03", "$ 416.52", "$ 602.08" ], [ "disck", "$ 100.00", "$ 198.06", "$ 274.01", "$ 281.55", "$ 436.89", "$ 626.29" ], [ "s&p 500", "$ 100.00", "$ 123.45", "$ 139.23", "$ 139.23", "$ 157.90", "$ 204.63" ], [ "peer group", "$ 100.00", "$ 151.63", "$ 181.00", "$ 208.91", "$ 286.74", "$ 454.87" ] ]

[ { "arg1": "602.08", "arg2": "const_100", "op": "minus2-1", "res": "502.08" }, { "arg1": "#0", "arg2": "const_100", "op": "divide2-2", "res": "502.08%" } ]

[ "fidelity national information services , inc .", "and subsidiaries notes to consolidated financial statements - ( continued ) ( a ) intrinsic value is based on a closing stock price as of december 31 , 2016 of $ 75.64 .", "the weighted average fair value of options granted during the years ended december 31 , 2016 , 2015 and 2014 was estimated to be $ 9.35 , $ 10.67 and $ 9.15 , respectively , using the black-scholes option pricing model with the assumptions below: ." ]

[ "the company estimates future forfeitures at the time of grant and revises those estimates in subsequent periods if actual forfeitures differ from those estimates .", "the company bases the risk-free interest rate that is used in the stock option valuation model on u.s .", "n treasury securities issued with maturities similar to the expected term of the options .", "the expected stock volatility factor is determined using historical daily price changes of the company's common stock over the most recent period commensurate with the expected term of the option and the impact of any expected trends .", "the dividend yield assumption is based on the current dividend yield at the grant tt date or management's forecasted expectations .", "the expected life assumption is determined by calculating the average term from the tt company's historical stock option activity and considering the impact of expected future trends .", "the company granted a total of 1 million restricted stock shares at prices ranging from $ 56.44 to $ 79.41 on various dates in 2016 .", "the company granted a total of 1 million restricted stock shares at prices ranging from $ 61.33 to $ 69.33 on various dates in 20t 15 .", "the company granted a total of 1 million restricted stock shares at prices ranging from $ 52.85 to $ 64.04 on various dates in 2014 .", "these shares were granted at the closing market price on the date of grant and vest annually over three years .", "as of december 31 , 2016 and 2015 , we have approximately 3 million and 4 million unvested restricted shares remaining .", "the december 31 , 2016 balance includes those rsu's converted in connection with the sungard acquisition as noted above .", "the company has provided for total stock compensation expense of $ 137 million , $ 98 million and $ 56 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , which is included in selling , general , and administrative expense in the consolidated statements of earnings , unless the expense is attributable to a discontinued operation .", "of the total stock compensation expense , $ 2 million for 2014 relates to liability based awards that will not be credited to additional paid in capital until issued .", "total d compensation expense for 2016 and 2015 did not include amounts relating to liability based awards .", "as of december 31 , 2016 and 2015 , the total unrecognized compensation cost related to non-vested stock awards is $ 141 million and $ 206 million , respectively , which is expected to be recognized in pre-tax income over a weighted average period of 1.4 years and 1.6 years , respectively .", "german pension plans our german operations have unfunded , defined benefit plan obligations .", "these obligations relate to benefits to be paid to germanaa employees upon retirement .", "the accumulated benefit obligation as of december 31 , 2016 and 2015 , was $ 49 million and $ 48 million , respectively , and the projected benefit obligation was $ 50 million and $ 49 million , respectively .", "the plan remains unfunded as of december 31 , 2016 .", "( 15 ) divestitures and discontinued operations on december 7 , 2016 , the company entered into a definitive agreement to sell the sungard public sector and education ( \"ps&e\" ) businesses for $ 850 million .", "the transaction included all ps&e solutions , which provide a comprehensive set of technology solutions to address public safety and public administration needs of government entities as well asn the needs of k-12 school districts .", "the divestiture is consistent with our strategy to serve the financial services markets .", "we received cash proceeds , net of taxes and transaction-related expenses of approximately $ 500 million .", "net cash proceeds are expected to be used to reduce outstanding debt ( see note 10 ) .", "the ps&e businesses are included in the corporate and other segment .", "the transaction closed on february 1 , 2017 , resulting in an expected pre-tax gain ranging from $ 85 million to $ 90 million that will ." ]

[ [ "", "2016", "2015", "2014" ], [ "Risk free interest rate", "1.2%", "1.4%", "1.4%" ], [ "Volatility", "20.4%", "21.7%", "21.2%" ], [ "Dividend yield", "1.6%", "1.6%", "1.6%" ], [ "Weighted average expected life (years)", "4.2", "4.2", "4.2" ] ]

[ [ "", "2016", "2015", "2014" ], [ "risk free interest rate", "1.2% ( 1.2 % )", "1.4% ( 1.4 % )", "1.4% ( 1.4 % )" ], [ "volatility", "20.4% ( 20.4 % )", "21.7% ( 21.7 % )", "21.2% ( 21.2 % )" ], [ "dividend yield", "1.6% ( 1.6 % )", "1.6% ( 1.6 % )", "1.6% ( 1.6 % )" ], [ "weighted average expected life ( years )", "4.2", "4.2", "4.2" ] ]

[]

[ "all highly liquid securities with a maturity of three months or less at the date of purchase are considered to be cash equivalents .", "securities with maturities greater than three months are classified as available-for-sale and are considered to be short-term investments .", "the carrying value of our interest-bearing instruments approximated fair value as of december 29 , 2012 .", "interest rates under our revolving credit facility are variable , so interest expense for periods when the credit facility is utilized could be adversely affected by changes in interest rates .", "interest rates under our revolving credit facility can fluctuate based on changes in market interest rates and in an interest rate margin that varies based on our consolidated leverage ratio .", "as of december 29 , 2012 , we had no outstanding balance on the credit facility .", "see note 3 in the notes to consolidated financial statements for an additional description of our credit facility .", "equity price risk convertible notes our 2015 notes and 2013 notes include conversion and settlement provisions that are based on the price of our common stock at conversion or at maturity of the notes .", "in addition , the hedges and warrants associated with these convertible notes also include settlement provisions that are based on the price of our common stock .", "the amount of cash we may be required to pay , or the number of shares we may be required to provide to note holders at conversion or maturity of these notes , is determined by the price of our common stock .", "the amount of cash or number of shares that we may receive from hedge counterparties in connection with the related hedges and the number of shares that we may be required to provide warrant counterparties in connection with the related warrants are also determined by the price of our common stock .", "upon the expiration of our 2015 warrants , cadence will issue shares of common stock to the purchasers of the warrants to the extent our stock price exceeds the warrant strike price of $ 10.78 at that time .", "the following table shows the number of shares that cadence would issue to 2015 warrant counterparties at expiration of the warrants , assuming various cadence closing stock prices on the dates of warrant expiration : shares ( in millions ) ." ]

[ "prior to the expiration of the 2015 warrants , for purposes of calculating diluted earnings per share , our diluted weighted-average shares outstanding will increase when our average closing stock price for a quarter exceeds $ 10.78 .", "for an additional description of our 2015 notes and 2013 notes , see note 3 in the notes to consolidated financial statements and 201cliquidity and capital resources 2014 other factors affecting liquidity and capital resources , 201d under item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations . 201d ." ]

[ [ "", "Shares (In millions)" ], [ "$11.00", "0.9" ], [ "$12.00", "4.7" ], [ "$13.00", "7.9" ], [ "$14.00", "10.7" ], [ "$15.00", "13.0" ], [ "$16.00", "15.1" ], [ "$17.00", "17.0" ], [ "$18.00", "18.6" ], [ "$19.00", "20.1" ], [ "$20.00", "21.4" ] ]

[ [ "", "shares ( in millions )" ], [ "$ 11.00", "0.9" ], [ "$ 12.00", "4.7" ], [ "$ 13.00", "7.9" ], [ "$ 14.00", "10.7" ], [ "$ 15.00", "13.0" ], [ "$ 16.00", "15.1" ], [ "$ 17.00", "17.0" ], [ "$ 18.00", "18.6" ], [ "$ 19.00", "20.1" ], [ "$ 20.00", "21.4" ] ]

[ { "arg1": "21.4", "arg2": "0.9", "op": "minus1-1", "res": "20.5" }, { "arg1": "#0", "arg2": "0.9", "op": "divide1-2", "res": "278%" } ]

[ "2011 compared to 2010 mfc 2019s net sales for 2011 increased $ 533 million , or 8% ( 8 % ) , compared to 2010 .", "the increase was attributable to higher volume of about $ 420 million on air and missile defense programs ( primarily pac-3 and thaad ) ; and about $ 245 million from fire control systems programs primarily related to the sof clss program , which began late in the third quarter of 2010 .", "partially offsetting these increases were lower net sales due to decreased volume of approximately $ 75 million primarily from various services programs and approximately $ 20 million from tactical missile programs ( primarily mlrs and jassm ) .", "mfc 2019s operating profit for 2011 increased $ 96 million , or 10% ( 10 % ) , compared to 2010 .", "the increase was attributable to higher operating profit of about $ 60 million for air and missile defense programs ( primarily pac-3 and thaad ) as a result of increased volume and retirement of risks ; and approximately $ 25 million for various services programs .", "adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 35 million higher in 2011 compared to 2010 .", "backlog backlog increased in 2012 compared to 2011 mainly due to increased orders and lower sales on fire control systems programs ( primarily lantirn ae and sniper ae ) and on various services programs , partially offset by lower orders and higher sales volume on tactical missiles programs .", "backlog increased in 2011 compared to 2010 primarily due to increased orders on air and missile defense programs ( primarily thaad ) .", "trends we expect mfc 2019s net sales for 2013 will be comparable with 2012 .", "we expect low double digit percentage growth in air and missile defense programs , offset by an expected decline in volume on logistics services programs .", "operating profit and margin are expected to be comparable with 2012 results .", "mission systems and training our mst business segment provides surface ship and submarine combat systems ; sea and land-based missile defense systems ; radar systems ; mission systems and sensors for rotary and fixed-wing aircraft ; littoral combat ships ; simulation and training services ; unmanned technologies and platforms ; ship systems integration ; and military and commercial training systems .", "mst 2019s major programs include aegis , mk-41 vertical launching system ( vls ) , tpq-53 radar system , mh-60 , lcs , and ptds .", "mst 2019s operating results included the following ( in millions ) : ." ]

[ "2012 compared to 2011 mst 2019s net sales for 2012 increased $ 447 million , or 6% ( 6 % ) , compared to 2011 .", "the increase in net sales for 2012 was attributable to higher volume and risk retirements of approximately $ 395 million from ship and aviation system programs ( primarily ptds ; lcs ; vls ; and mh-60 ) ; about $ 115 million for training and logistics solutions programs primarily due to net sales from sim industries , which was acquired in the fourth quarter of 2011 ; and approximately $ 30 million as a result of increased volume on integrated warfare systems and sensors programs ( primarily aegis ) .", "partially offsetting the increases were lower net sales of approximately $ 70 million from undersea systems programs due to lower volume on an international combat system program and towed array systems ; and about $ 25 million due to lower volume on various other programs .", "mst 2019s operating profit for 2012 increased $ 92 million , or 14% ( 14 % ) , compared to 2011 .", "the increase was attributable to higher operating profit of approximately $ 175 million from ship and aviation system programs , which reflects higher volume and risk retirements on certain programs ( primarily vls ; ptds ; mh-60 ; and lcs ) and reserves of about $ 55 million for contract cost matters on ship and aviation system programs recorded in the fourth quarter of 2011 ( including the terminated presidential helicopter program ) .", "partially offsetting the increase was lower operating profit of approximately $ 40 million from undersea systems programs due to reduced profit booking rates on certain programs and lower volume on an international combat system program and towed array systems ; and about $ 40 million due to lower volume on various other programs .", "adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 150 million higher for 2012 compared to 2011. ." ]

[ [ "", "2012", "2011", "2010" ], [ "Net sales", "$7,579", "$7,132", "$7,443" ], [ "Operating profit", "737", "645", "713" ], [ "Operating margins", "9.7%", "9.0%", "9.6%" ], [ "Backlog at year-end", "10,700", "10,500", "10,600" ] ]

[ [ "", "2012", "2011", "2010" ], [ "net sales", "$ 7579", "$ 7132", "$ 7443" ], [ "operating profit", "737", "645", "713" ], [ "operating margins", "9.7% ( 9.7 % )", "9.0% ( 9.0 % )", "9.6% ( 9.6 % )" ], [ "backlog at year-end", "10700", "10500", "10600" ] ]

[ { "arg1": "737", "arg2": "645", "op": "minus1-1", "res": "92" }, { "arg1": "#0", "arg2": "645", "op": "divide1-2", "res": "14.3%" } ]

[ "interest expense , net was $ 26.4 million , $ 14.6 million , and $ 5.3 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .", "interest expense includes the amortization of deferred financing costs , bank fees , capital and built-to-suit lease interest and interest expense under the credit and other long term debt facilities .", "amortization of deferred financing costs was $ 1.2 million , $ 0.8 million , and $ 0.6 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .", "the company monitors the financial health and stability of its lenders under the credit and other long term debt facilities , however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities .", "6 .", "commitments and contingencies obligations under operating leases the company leases warehouse space , office facilities , space for its brand and factory house stores and certain equipment under non-cancelable operating leases .", "the leases expire at various dates through 2033 , excluding extensions at the company 2019s option , and include provisions for rental adjustments .", "the table below includes executed lease agreements for brand and factory house stores that the company did not yet occupy as of december 31 , 2016 and does not include contingent rent the company may incur at its stores based on future sales above a specified minimum or payments made for maintenance , insurance and real estate taxes .", "the following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of december 31 , 2016 as well as significant operating lease agreements entered into during the period after december 31 , 2016 through the date of this report : ( in thousands ) ." ]

[ "included in selling , general and administrative expense was rent expense of $ 109.0 million , $ 83.0 million and $ 59.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , under non-cancelable operating lease agreements .", "included in these amounts was contingent rent expense of $ 13.0 million , $ 11.0 million and $ 11.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .", "sports marketing and other commitments within the normal course of business , the company enters into contractual commitments in order to promote the company 2019s brand and products .", "these commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels , official supplier agreements , athletic event sponsorships and other marketing commitments .", "the following is a schedule of the company 2019s future minimum payments under its sponsorship and other marketing agreements as of december 31 ." ]

[ [ "2017", "$114,857" ], [ "2018", "127,504" ], [ "2019", "136,040" ], [ "2020", "133,092" ], [ "2021", "122,753" ], [ "2022 and thereafter", "788,180" ], [ "Total future minimum lease payments", "$1,422,426" ] ]

[ [ "2017", "$ 114857" ], [ "2018", "127504" ], [ "2019", "136040" ], [ "2020", "133092" ], [ "2021", "122753" ], [ "2022 and thereafter", "788180" ], [ "total future minimum lease payments", "$ 1422426" ] ]

[ { "arg1": "83.0", "arg2": "59.0", "op": "minus1-1", "res": "24" }, { "arg1": "#0", "arg2": "59.0", "op": "divide1-2", "res": "41%" } ]

[ "notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201ccompany 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .", "1 .", "nature of operations operations and segmentation 2013 we are a class i railroad operating in the u.s .", "our network includes 32236 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .", "gateways and providing several corridors to key mexican gateways .", "we own 26039 miles and operate on the remainder pursuant to trackage rights or leases .", "we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .", "export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .", "the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .", "although we provide and analyze revenue by commodity group , we treat the financial results of the railroad as one segment due to the integrated nature of our rail network .", "our operating revenues are primarily derived from contracts with customers for the transportation of freight from origin to destination .", "effective january 1 , 2018 , the company reclassified its six commodity groups into four : agricultural products , energy , industrial , and premium .", "the following table represents a disaggregation of our freight and other revenues: ." ]

[ "although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products we transport are outside the u.s .", "each of our commodity groups includes revenue from shipments to and from mexico .", "included in the above table are freight revenues from our mexico business which amounted to $ 2.5 billion in 2018 , $ 2.3 billion in 2017 , and $ 2.2 billion in 2016 .", "basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .", "( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .", "2 .", "significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .", "investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .", "all intercompany transactions are eliminated .", "we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .", "cash , cash equivalents and restricted cash 2013 cash equivalents consist of investments with original maturities of three months or less .", "amounts included in restricted cash represent those required to be set aside by contractual agreement. ." ]

[ [ "Millions", "2018", "2017", "2016" ], [ "Agricultural Products", "$4,469", "$4,303", "$4,209" ], [ "Energy", "4,608", "4,498", "3,715" ], [ "Industrial", "5,679", "5,204", "4,964" ], [ "Premium", "6,628", "5,832", "5,713" ], [ "Total freight revenues", "$21,384", "$19,837", "$18,601" ], [ "Other subsidiary revenues", "881", "885", "814" ], [ "Accessorial revenues", "502", "458", "455" ], [ "Other", "65", "60", "71" ], [ "Total operating revenues", "$22,832", "$21,240", "$19,941" ] ]

[ [ "millions", "2018", "2017", "2016" ], [ "agricultural products", "$ 4469", "$ 4303", "$ 4209" ], [ "energy", "4608", "4498", "3715" ], [ "industrial", "5679", "5204", "4964" ], [ "premium", "6628", "5832", "5713" ], [ "total freight revenues", "$ 21384", "$ 19837", "$ 18601" ], [ "other subsidiary revenues", "881", "885", "814" ], [ "accessorial revenues", "502", "458", "455" ], [ "other", "65", "60", "71" ], [ "total operating revenues", "$ 22832", "$ 21240", "$ 19941" ] ]

[ { "arg1": "22832", "arg2": "const_1000", "op": "divide1-1", "res": "22.832" }, { "arg1": "#0", "arg2": "2.5", "op": "minus1-2", "res": "20.332" } ]

[ "consumer foods net sales increased $ 303 million , or 5% ( 5 % ) , for the year to $ 6.8 billion .", "results reflect an increase of three percentage points from improved net pricing and product mix and two percentage points of improvement from higher volumes .", "net pricing and volume improvements were achieved in many of the company 2019s priority investment and enabler brands .", "the impact of product recalls partially offset these improvements .", "the company implemented significant price increases for many consumer foods products during the fourth quarter of fiscal 2008 .", "continued net sales improvements are expected into fiscal 2009 when the company expects to receive the benefit of these pricing actions for full fiscal periods .", "sales of some of the company 2019s most significant brands , including chef boyardee ae , david ae , egg beaters ae , healthy choice ae , hebrew national ae , hunt 2019s ae , marie callender 2019s ae , manwich ae , orville redenbacher 2019s ae , pam ae , ro*tel ae , rosarita ae , snack pack ae , swiss miss ae , wesson ae , and wolf ae grew in fiscal 2008 .", "sales of act ii ae , andy capp ae , banquet ae , crunch 2018n munch ae , kid cuisine ae , parkay ae , pemmican ae , reddi-wip ae , and slim jim ae declined in fiscal 2008 .", "net sales in the consumer foods segment are not comparable across periods due to a variety of factors .", "the company initiated a peanut butter recall in the third quarter of fiscal 2007 and reintroduced peter pan ae peanut butter products in august 2007 .", "sales of all peanut butter products , including both branded and private label , in fiscal 2008 were $ 14 million lower than comparable amounts in fiscal 2007 .", "consumer foods net sales were also adversely impacted by the recall of banquet ae and private label pot pies in the second quarter of fiscal 2008 .", "net sales of pot pies were lower by approximately $ 22 million in fiscal 2008 , relative to fiscal 2007 , primarily due to product returns and lost sales of banquet ae and private label pot pies .", "sales from alexia foods and lincoln snacks , businesses acquired in fiscal 2008 , totaled $ 66 million in fiscal 2008 .", "the company divested a refrigerated pizza business during the first half of fiscal 2007 .", "sales from this business were $ 17 million in fiscal food and ingredients net sales were $ 4.1 billion in fiscal 2008 , an increase of $ 706 million , or 21% ( 21 % ) .", "increased sales are reflective of higher sales prices in the company 2019s milling operations due to higher grain prices , and price and volume increases in the company 2019s potato and dehydrated vegetable operations .", "the fiscal 2007 divestiture of an oat milling operation resulted in a reduction of sales of $ 27 million for fiscal 2008 , partially offset by increased sales of $ 18 million from the acquisition of watts brothers in february 2008 .", "international foods net sales increased $ 65 million to $ 678 million .", "the strengthening of foreign currencies relative to the u.s .", "dollar accounted for approximately $ 36 million of this increase .", "the segment achieved a 5% ( 5 % ) increase in sales volume in fiscal 2008 , primarily reflecting increased unit sales in canada and mexico , and modest increases in net pricing .", "gross profit ( net sales less cost of goods sold ) ( $ in millions ) reporting segment fiscal 2008 gross profit fiscal 2007 gross profit % ( % ) increase/ ( decrease ) ." ]

[ "the company 2019s gross profit for fiscal 2008 was $ 2.7 billion , an increase of $ 23 million , or 1% ( 1 % ) , over the prior year .", "the increase in gross profit was largely driven by results in the food and ingredients segment , reflecting higher margins in the company 2019s milling and specialty potato operations , largely offset by reduced gross profits in the consumer foods segment .", "costs of implementing the company 2019s restructuring plans reduced gross profit by $ 4 million and $ 46 million in fiscal 2008 and fiscal 2007 , respectively. ." ]

[ [ "Reporting Segment", "Fiscal 2008 Gross Profit", "Fiscal 2007 Gross Profit", "% Increase/ (Decrease)" ], [ "Consumer Foods", "$1,802", "$1,923", "(6)%" ], [ "Food and Ingredients", "724", "590", "23%" ], [ "International Foods", "190", "180", "6%" ], [ "Total", "$2,716", "$2,693", "1%" ] ]

[ [ "reporting segment", "fiscal 2008 gross profit", "fiscal 2007 gross profit", "% ( % ) increase/ ( decrease )" ], [ "consumer foods", "$ 1802", "$ 1923", "( 6 ) % ( % )" ], [ "food and ingredients", "724", "590", "23% ( 23 % )" ], [ "international foods", "190", "180", "6% ( 6 % )" ], [ "total", "$ 2716", "$ 2693", "1% ( 1 % )" ] ]

[]

[ "the following table summarizes the changes in the company 2019s valuation allowance: ." ]

[ "note 14 : employee benefits pension and other postretirement benefits the company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations .", "benefits under the plans are based on the employee 2019s years of service and compensation .", "the pension plans have been closed for most employees hired on or after january 1 , 2006 .", "union employees hired on or after january 1 , 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement .", "union employees hired on or after january 1 , 2001 and non-union employees hired on or after january 1 , 2006 are provided with a 5.25% ( 5.25 % ) of base pay defined contribution plan .", "the company does not participate in a multiemployer plan .", "the company 2019s funding policy is to contribute at least the greater of the minimum amount required by the employee retirement income security act of 1974 or the normal cost , and an additional contribution if needed to avoid 201cat risk 201d status and benefit restrictions under the pension protection act of 2006 .", "the company may also increase its contributions , if appropriate , to its tax and cash position and the plan 2019s funded position .", "pension plan assets are invested in a number of actively managed and indexed investments including equity and bond mutual funds , fixed income securities and guaranteed interest contracts with insurance companies .", "pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans .", "( see note 6 ) the company also has several unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees .", "the company maintains other postretirement benefit plans providing varying levels of medical and life insurance to eligible retirees .", "the retiree welfare plans are closed for union employees hired on or after january 1 , 2006 .", "the plans had previously closed for non-union employees hired on or after january 1 , 2002 .", "the company 2019s policy is to fund other postretirement benefit costs for rate-making purposes .", "plan assets are invested in equity and bond mutual funds , fixed income securities , real estate investment trusts ( 201creits 201d ) and emerging market funds .", "the obligations of the plans are dominated by obligations for active employees .", "because the timing of expected benefit payments is so far in the future and the size of the plan assets are small relative to the company 2019s assets , the investment strategy is to allocate a significant percentage of assets to equities , which the company believes will provide the highest return over the long-term period .", "the fixed income assets are invested in long duration debt securities and may be invested in fixed income instruments , such as futures and options in order to better match the duration of the plan liability. ." ]

[ [ "Balance at January 1, 2010", "$25,621" ], [ "Increases in current period tax positions", "907" ], [ "Decreases in current period tax positions", "(2,740)" ], [ "Balance at December 31, 2010", "$23,788" ], [ "Increases in current period tax positions", "1,525" ], [ "Decreases in current period tax positions", "(3,734)" ], [ "Balance at December 31, 2011", "$21,579" ], [ "Increases in current period tax positions", "0" ], [ "Decreases in current period tax positions", "(2,059)" ], [ "Balance at December 31, 2012", "$19,520" ] ]

[ [ "balance at january 1 2010", "$ 25621" ], [ "increases in current period tax positions", "907" ], [ "decreases in current period tax positions", "-2740 ( 2740 )" ], [ "balance at december 31 2010", "$ 23788" ], [ "increases in current period tax positions", "1525" ], [ "decreases in current period tax positions", "-3734 ( 3734 )" ], [ "balance at december 31 2011", "$ 21579" ], [ "increases in current period tax positions", "0" ], [ "decreases in current period tax positions", "-2059 ( 2059 )" ], [ "balance at december 31 2012", "$ 19520" ] ]

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[ "o 2019 r e i l l y a u t o m o t i v e 2 0 0 6 a n n u a l r e p o r t p a g e 38 $ 11080000 , in the years ended december 31 , 2006 , 2005 and 2004 , respectively .", "the remaining unrecognized compensation cost related to unvested awards at december 31 , 2006 , was $ 7702000 and the weighted-average period of time over which this cost will be recognized is 3.3 years .", "employee stock purchase plan the company 2019s employee stock purchase plan permits all eligible employees to purchase shares of the company 2019s common stock at 85% ( 85 % ) of the fair market value .", "participants may authorize the company to withhold up to 5% ( 5 % ) of their annual salary to participate in the plan .", "the stock purchase plan authorizes up to 2600000 shares to be granted .", "during the year ended december 31 , 2006 , the company issued 165306 shares under the purchase plan at a weighted average price of $ 27.36 per share .", "during the year ended december 31 , 2005 , the company issued 161903 shares under the purchase plan at a weighted average price of $ 27.57 per share .", "during the year ended december 31 , 2004 , the company issued 187754 shares under the purchase plan at a weighted average price of $ 20.85 per share .", "sfas no .", "123r requires compensation expense to be recognized based on the discount between the grant date fair value and the employee purchase price for shares sold to employees .", "during the year ended december 31 , 2006 , the company recorded $ 799000 of compensation cost related to employee share purchases and a corresponding income tax benefit of $ 295000 .", "at december 31 , 2006 , approximately 400000 shares were reserved for future issuance .", "other employee benefit plans the company sponsors a contributory profit sharing and savings plan that covers substantially all employees who are at least 21 years of age and have at least six months of service .", "the company has agreed to make matching contributions equal to 50% ( 50 % ) of the first 2% ( 2 % ) of each employee 2019s wages that are contributed and 25% ( 25 % ) of the next 4% ( 4 % ) of each employee 2019s wages that are contributed .", "the company also makes additional discretionary profit sharing contributions to the plan on an annual basis as determined by the board of directors .", "the company 2019s matching and profit sharing contributions under this plan are funded in the form of shares of the company 2019s common stock .", "a total of 4200000 shares of common stock have been authorized for issuance under this plan .", "during the year ended december 31 , 2006 , the company recorded $ 6429000 of compensation cost for contributions to this plan and a corresponding income tax benefit of $ 2372000 .", "during the year ended december 31 , 2005 , the company recorded $ 6606000 of compensation cost for contributions to this plan and a corresponding income tax benefit of $ 2444000 .", "during the year ended december 31 , 2004 , the company recorded $ 5278000 of compensation cost for contributions to this plan and a corresponding income tax benefit of $ 1969000 .", "the compensation cost recorded in 2006 includes matching contributions made in 2006 and profit sharing contributions accrued in 2006 to be funded with issuance of shares of common stock in 2007 .", "the company issued 204000 shares in 2006 to fund profit sharing and matching contributions at an average grant date fair value of $ 34.34 .", "the company issued 210461 shares in 2005 to fund profit sharing and matching contributions at an average grant date fair value of $ 25.79 .", "the company issued 238828 shares in 2004 to fund profit sharing and matching contributions at an average grant date fair value of $ 19.36 .", "a portion of these shares related to profit sharing contributions accrued in prior periods .", "at december 31 , 2006 , approximately 1061000 shares were reserved for future issuance under this plan .", "the company has in effect a performance incentive plan for the company 2019s senior management under which the company awards shares of restricted stock that vest equally over a three-year period and are held in escrow until such vesting has occurred .", "shares are forfeited when an employee ceases employment .", "a total of 800000 shares of common stock have been authorized for issuance under this plan .", "shares awarded under this plan are valued based on the market price of the company 2019s common stock on the date of grant and compensation cost is recorded over the vesting period .", "the company recorded $ 416000 of compensation cost for this plan for the year ended december 31 , 2006 and recognized a corresponding income tax benefit of $ 154000 .", "the company recorded $ 289000 of compensation cost for this plan for the year ended december 31 , 2005 and recognized a corresponding income tax benefit of $ 107000 .", "the company recorded $ 248000 of compensation cost for this plan for the year ended december 31 , 2004 and recognized a corresponding income tax benefit of $ 93000 .", "the total fair value of shares vested ( at vest date ) for the years ended december 31 , 2006 , 2005 and 2004 were $ 503000 , $ 524000 and $ 335000 , respectively .", "the remaining unrecognized compensation cost related to unvested awards at december 31 , 2006 was $ 536000 .", "the company awarded 18698 shares under this plan in 2006 with an average grant date fair value of $ 33.12 .", "the company awarded 14986 shares under this plan in 2005 with an average grant date fair value of $ 25.41 .", "the company awarded 15834 shares under this plan in 2004 with an average grant date fair value of $ 19.05 .", "compensation cost for shares awarded in 2006 will be recognized over the three-year vesting period .", "changes in the company 2019s restricted stock for the year ended december 31 , 2006 were as follows : weighted- average grant date shares fair value ." ]

[ "at december 31 , 2006 , approximately 659000 shares were reserved for future issuance under this plan .", "n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( cont inued ) ." ]

[ [ "", "Shares", "Weighted-Average Grant Date Fair Value" ], [ "Non-vested at December 31, 2005", "15,052", "$22.68" ], [ "Granted during the period", "18,698", "33.12" ], [ "Vested during the period", "(15,685)", "26.49" ], [ "Forfeited during the period", "(1,774)", "27.94" ], [ "Non-vested at December 31, 2006", "16,291", "$30.80" ] ]

[ [ "", "shares", "weighted-average grant date fair value" ], [ "non-vested at december 31 2005", "15052", "$ 22.68" ], [ "granted during the period", "18698", "33.12" ], [ "vested during the period", "-15685 ( 15685 )", "26.49" ], [ "forfeited during the period", "-1774 ( 1774 )", "27.94" ], [ "non-vested at december 31 2006", "16291", "$ 30.80" ] ]

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[ "growth focused .", "for example , in december 2005 , 3m announced its intention to build an lcd optical film manufacturing facility in poland to support the fast-growing lcd-tv market in europe and to better serve its customers .", "the company expects 2006 capital expenditures to total approximately $ 1.1 billion , compared with $ 943 million in 2005 .", "in the third quarter of 2005 , 3m completed the acquisition of cuno .", "3m acquired cuno for approximately $ 1.36 billion , including assumption of debt .", "this $ 1.36 billion included $ 1.27 billion of cash paid ( net of cash acquired ) and the assumption of $ 80 million of debt , most of which has been repaid .", "in 2005 , the company also entered into two additional business combinations for a total purchase price of $ 27 million .", "refer to note 2 to the consolidated financial statements for more information on these 2005 business combinations , and for information concerning 2004 and 2003 business combinations .", "purchases of investments in 2005 include the purchase from ti&m beteiligungsgesellschaft mbh of 19 percent of i&t innovation technology ( discussed previously under the transportation business segment ) .", "the purchase price of approximately $ 55 million is reported as 201cinvestments 201d in the consolidated balance sheet and as 201cpurchases of investments 201d in the consolidated statement of cash flows .", "other 201cpurchases of investments 201d and 201cproceeds from sale of investments 201d in 2005 are primarily attributable to auction rate securities , which are classified as available-for-sale .", "prior to 2005 , purchases of and proceeds from the sale of auction rate securities were classified as cash and cash equivalents .", "at december 31 , 2004 , the amount of such securities taken as a whole was immaterial to cash and cash equivalents , and accordingly were not reclassified for 2004 and prior .", "proceeds from the sale of investments in 2003 include $ 26 million of cash received related to the sale of 3m 2019s 50% ( 50 % ) ownership in durel corporation to rogers corporation .", "additional purchases of investments totaled $ 5 million in 2005 , $ 10 million in 2004 and $ 16 million in 2003 .", "these purchases include additional survivor benefit insurance and equity investments .", "the company is actively considering additional acquisitions , investments and strategic alliances .", "cash flows from financing activities : years ended december 31 ." ]

[ "total debt at december 31 , 2005 , was $ 2.381 billion , down from $ 2.821 billion at year-end 2004 , with the decrease primarily attributable to the retirement of $ 400 million in medium-term notes .", "there were no new long- term debt issuances in 2005 .", "in 2005 , the cash flow decrease in net short-term debt of $ 258 million includes the portion of short-term debt with original maturities of 90 days or less .", "the repayment of debt of $ 656 million primarily related to the retirement of $ 400 million in medium-term notes and commercial paper retirements .", "proceeds from debt of $ 429 million primarily related to commercial paper issuances .", "total debt was 19% ( 19 % ) of total capital ( total capital is defined as debt plus equity ) , compared with 21% ( 21 % ) at year-end 2004 .", "debt securities , including the company 2019s shelf registration , its medium-term notes program , dealer remarketable securities and convertible note , are all discussed in more detail in note 8 to the consolidated financial statements .", "3m has a shelf registration and medium-term notes program through which $ 1.5 billion of medium- term notes may be offered .", "in 2004 , the company issued approximately $ 62 million in debt securities under its medium-term notes program .", "no debt was issued under this program in 2005 .", "the medium-term notes program and shelf registration have remaining capacity of approximately $ 1.438 billion .", "the company 2019s $ 350 million of dealer remarketable securities ( classified as current portion of long-term debt ) were remarketed for one year in december 2005 .", "in addition , the company has convertible notes with a book value of $ 539 million at december 31 , 2005 .", "the next put option date for these convertible notes is november 2007 , thus at year-end 2005 this debt ." ]

[ [ "(Millions)", "2005", "2004", "2003" ], [ "Change in short-term debt — net", "$(258)", "$399", "$(215)" ], [ "Repayment of debt (maturities greater than 90 days)", "(656)", "(868)", "(719)" ], [ "Proceeds from debt (maturities greater than 90 days)", "429", "358", "494" ], [ "Total change in debt", "$(485)", "$(111)", "$(440)" ], [ "Purchases of treasury stock", "(2,377)", "(1,791)", "(685)" ], [ "Reissuances of treasury stock", "545", "508", "555" ], [ "Dividends paid to stockholders", "(1,286)", "(1,125)", "(1,034)" ], [ "Distributions to minority interests and other — net", "(76)", "(15)", "(23)" ], [ "Net cash used in financing activities", "$(3,679)", "$(2,534)", "$(1,627)" ] ]

[ [ "( millions )", "2005", "2004", "2003" ], [ "change in short-term debt 2014 net", "$ -258 ( 258 )", "$ 399", "$ -215 ( 215 )" ], [ "repayment of debt ( maturities greater than 90 days )", "-656 ( 656 )", "-868 ( 868 )", "-719 ( 719 )" ], [ "proceeds from debt ( maturities greater than 90 days )", "429", "358", "494" ], [ "total change in debt", "$ -485 ( 485 )", "$ -111 ( 111 )", "$ -440 ( 440 )" ], [ "purchases of treasury stock", "-2377 ( 2377 )", "-1791 ( 1791 )", "-685 ( 685 )" ], [ "reissuances of treasury stock", "545", "508", "555" ], [ "dividends paid to stockholders", "-1286 ( 1286 )", "-1125 ( 1125 )", "-1034 ( 1034 )" ], [ "distributions to minority interests and other 2014 net", "-76 ( 76 )", "-15 ( 15 )", "-23 ( 23 )" ], [ "net cash used in financing activities", "$ -3679 ( 3679 )", "$ -2534 ( 2534 )", "$ -1627 ( 1627 )" ] ]

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[ "acquire operations and facilities from municipalities and other local governments , as they increasingly seek to raise capital and reduce risk .", "we realize synergies from consolidating businesses into our existing operations , whether through acquisitions or public-private partnerships , which allows us to reduce capital expenditures and expenses associated with truck routing , personnel , fleet maintenance , inventories and back-office administration .", "operating model the goal of our operating model pillar is to deliver a consistent , high-quality service to all of our customers through the republic way : one way .", "everywhere .", "every day .", "this approach of developing standardized processes with rigorous controls and tracking allows us to leverage our scale and deliver durable operational excellence .", "the republic way is the key to harnessing the best of what we do as operators and translating that across all facets of our business .", "a key enabler of the republic way is our organizational structure that fosters a high performance culture by maintaining 360-degree accountability and full profit and loss responsibility with local management , supported by a functional structure to provide subject matter expertise .", "this structure allows us to take advantage of our scale by coordinating functionally across all of our markets , while empowering local management to respond to unique market dynamics .", "we have rolled out several productivity and cost control initiatives designed to deliver the best service possible to our customers in the most efficient and environmentally sound way .", "fleet automation approximately 75% ( 75 % ) of our residential routes have been converted to automated single-driver trucks .", "by converting our residential routes to automated service , we reduce labor costs , improve driver productivity , decrease emissions and create a safer work environment for our employees .", "additionally , communities using automated vehicles have higher participation rates in recycling programs , thereby complementing our initiative to expand our recycling capabilities .", "fleet conversion to compressed natural gas ( cng ) approximately 19% ( 19 % ) of our fleet operates on natural gas .", "we expect to continue our gradual fleet conversion to cng as part of our ordinary annual fleet replacement process .", "we believe a gradual fleet conversion is the most prudent approach to realizing the full value of our previous fleet investments .", "approximately 30% ( 30 % ) of our replacement vehicle purchases during 2017 were cng vehicles .", "we believe using cng vehicles provides us a competitive advantage in communities with strict clean emission initiatives that focus on protecting the environment .", "although upfront capital costs are higher , using cng reduces our overall fleet operating costs through lower fuel expenses .", "as of december 31 , 2017 , we operated 37 cng fueling stations .", "standardized maintenance based on an industry trade publication , we operate the seventh largest vocational fleet in the united states .", "as of december 31 , 2017 , our average fleet age in years , by line of business , was as follows : approximate number of vehicles approximate average age ." ]

[ "." ]

[ [ "", "Approximate Number of Vehicles", "Approximate Average Age" ], [ "Residential", "7,200", "7.5" ], [ "Small-container", "4,600", "7.1" ], [ "Large-container", "4,100", "8.8" ], [ "Total", "15,900", "7.7" ] ]

[ [ "", "approximate number of vehicles", "approximate average age" ], [ "residential", "7200", "7.5" ], [ "small-container", "4600", "7.1" ], [ "large-container", "4100", "8.8" ], [ "total", "15900", "7.7" ] ]

[]

[ "kimco realty corporation and subsidiaries notes to consolidated financial statements , continued investment in retail store leases the company has interests in various retail store leases relating to the anchor store premises in neighborhood and community shopping centers .", "these premises have been sublet to retailers who lease the stores pursuant to net lease agreements .", "income from the investment in these retail store leases during the years ended december 31 , 2008 , 2007 and 2006 , was approximately $ 2.7 million , $ 1.2 million and $ 1.3 million , respectively .", "these amounts represent sublease revenues during the years ended december 31 , 2008 , 2007 and 2006 , of approximately $ 7.1 million , $ 7.7 million and $ 8.2 million , respectively , less related expenses of $ 4.4 million , $ 5.1 million and $ 5.7 million , respectively , and an amount which , in management 2019s estimate , reasonably provides for the recovery of the investment over a period representing the expected remaining term of the retail store leases .", "the company 2019s future minimum revenues under the terms of all non-cancelable tenant subleases and future minimum obligations through the remaining terms of its retail store leases , assuming no new or renegotiated leases are executed for such premises , for future years are as follows ( in millions ) : 2009 , $ 5.6 and $ 3.8 ; 2010 , $ 5.4 and $ 3.7 ; 2011 , $ 4.5 and $ 3.1 ; 2012 , $ 2.3 and $ 2.1 ; 2013 , $ 1.0 and $ 1.3 and thereafter , $ 1.4 and $ 0.5 , respectively .", "leveraged lease during june 2002 , the company acquired a 90% ( 90 % ) equity participation interest in an existing leveraged lease of 30 properties .", "the properties are leased under a long-term bond-type net lease whose primary term expires in 2016 , with the lessee having certain renewal option rights .", "the company 2019s cash equity investment was approximately $ 4.0 million .", "this equity investment is reported as a net investment in leveraged lease in accordance with sfas no .", "13 , accounting for leases ( as amended ) .", "from 2002 to 2007 , 18 of these properties were sold , whereby the proceeds from the sales were used to pay down the mortgage debt by approximately $ 31.2 million .", "as of december 31 , 2008 , the remaining 12 properties were encumbered by third-party non-recourse debt of approximately $ 42.8 million that is scheduled to fully amortize during the primary term of the lease from a portion of the periodic net rents receivable under the net lease .", "as an equity participant in the leveraged lease , the company has no recourse obligation for principal or interest payments on the debt , which is collateralized by a first mortgage lien on the properties and collateral assignment of the lease .", "accordingly , this obligation has been offset against the related net rental receivable under the lease .", "at december 31 , 2008 and 2007 , the company 2019s net investment in the leveraged lease consisted of the following ( in millions ) : ." ]

[ "9 .", "mortgages and other financing receivables : the company has various mortgages and other financing receivables which consist of loans acquired and loans originated by the company .", "for a complete listing of the company 2019s mortgages and other financing receivables at december 31 , 2008 , see financial statement schedule iv included on page 141 of this annual report on form 10-k .", "reconciliation of mortgage loans and other financing receivables on real estate: ." ]

[ [ "", "2008", "2007" ], [ "Remaining net rentals", "$53.8", "$55.0" ], [ "Estimated unguaranteed residual value", "31.7", "36.0" ], [ "Non-recourse mortgage debt", "(38.5)", "(43.9)" ], [ "Unearned and deferred income", "(43.0)", "(43.3)" ], [ "Net investment in leveraged lease", "$ 4.0", "$ 3.8" ] ]

[ [ "", "2008", "2007" ], [ "remaining net rentals", "$ 53.8", "$ 55.0" ], [ "estimated unguaranteed residual value", "31.7", "36.0" ], [ "non-recourse mortgage debt", "-38.5 ( 38.5 )", "-43.9 ( 43.9 )" ], [ "unearned and deferred income", "-43.0 ( 43.0 )", "-43.3 ( 43.3 )" ], [ "net investment in leveraged lease", "$ 4.0", "$ 3.8" ] ]

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[ "management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) financing activities net cash used in financing activities during 2015 primarily related to the repurchase of our common stock and payment of dividends .", "we repurchased 13.6 shares of our common stock for an aggregate cost of $ 285.2 , including fees , and made dividend payments of $ 195.5 on our common stock .", "net cash used in financing activities during 2014 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends .", "we redeemed all $ 350.0 in aggregate principal amount of our 6.25% ( 6.25 % ) notes , repurchased 14.9 shares of our common stock for an aggregate cost of $ 275.1 , including fees , and made dividend payments of $ 159.0 on our common stock .", "this was offset by the issuance of $ 500.0 in aggregate principal amount of our 4.20% ( 4.20 % ) notes .", "foreign exchange rate changes the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 156.1 in 2015 .", "the decrease was primarily a result of the u.s .", "dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , canadian dollar , euro and south african rand as of december 31 , 2015 compared to december 31 , 2014 .", "the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 101.0 in 2014 .", "the decrease was primarily a result of the u.s .", "dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , canadian dollar and euro as of december 31 , 2014 compared to december 31 , 2013. ." ]

[ "liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months .", "we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs .", "we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends .", "from time to time , we evaluate market conditions and financing alternatives for opportunities to raise additional funds or otherwise improve our liquidity profile , enhance our financial flexibility and manage market risk .", "our ability to access the capital markets depends on a number of factors , which include those specific to us , such as our credit rating , and those related to the financial markets , such as the amount or terms of available credit .", "there can be no guarantee that we would be able to access new sources of liquidity on commercially reasonable terms , or at all .", "funding requirements our most significant funding requirements include our operations , non-cancelable operating lease obligations , capital expenditures , acquisitions , common stock dividends , taxes , debt service and contributions to pension and postretirement plans .", "additionally , we may be required to make payments to minority shareholders in certain subsidiaries if they exercise their options to sell us their equity interests. ." ]

[ [ "", "December 31," ], [ "Balance Sheet Data", "2015", "2014" ], [ "Cash, cash equivalents and marketable securities", "$1,509.7", "$1,667.2" ], [ "Short-term borrowings", "$150.1", "$107.2" ], [ "Current portion of long-term debt", "1.9", "2.1" ], [ "Long-term debt", "1,610.3", "1,612.9" ], [ "Total debt", "$1,762.3", "$1,722.2" ] ]

[ [ "balance sheet data", "december 31 , 2015", "december 31 , 2014" ], [ "cash cash equivalents and marketable securities", "$ 1509.7", "$ 1667.2" ], [ "short-term borrowings", "$ 150.1", "$ 107.2" ], [ "current portion of long-term debt", "1.9", "2.1" ], [ "long-term debt", "1610.3", "1612.9" ], [ "total debt", "$ 1762.3", "$ 1722.2" ] ]

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[ "challenging investment environment with $ 15.0 billion , or 95% ( 95 % ) , of net inflows coming from institutional clients , with the remaining $ 0.8 billion , or 5% ( 5 % ) , generated by retail and hnw clients .", "defined contribution plans of institutional clients remained a significant driver of flows .", "this client group added $ 13.1 billion of net new business in 2012 .", "during the year , americas net inflows of $ 18.5 billion were partially offset by net outflows of $ 2.6 billion collectively from emea and asia-pacific clients .", "the company 2019s multi-asset strategies include the following : 2022 asset allocation and balanced products represented 52% ( 52 % ) , or $ 140.2 billion , of multi-asset class aum at year-end , up $ 14.1 billion , with growth in aum driven by net new business of $ 1.6 billion and $ 12.4 billion in market and foreign exchange gains .", "these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget .", "in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions .", "2022 target date and target risk products ended the year at $ 69.9 billion , up $ 20.8 billion , or 42% ( 42 % ) , since december 31 , 2011 .", "growth in aum was driven by net new business of $ 14.5 billion , a year-over-year organic growth rate of 30% ( 30 % ) .", "institutional investors represented 90% ( 90 % ) of target date and target risk aum , with defined contribution plans accounting for over 80% ( 80 % ) of aum .", "the remaining 10% ( 10 % ) of target date and target risk aum consisted of retail client investments .", "flows were driven by defined contribution investments in our lifepath and lifepath retirement income ae offerings , which are qualified investment options under the pension protection act of 2006 .", "these products utilize a proprietary asset allocation model that seeks to balance risk and return over an investment horizon based on the investor 2019s expected retirement timing .", "2022 fiduciary management services accounted for 22% ( 22 % ) , or $ 57.7 billion , of multi-asset aum at december 31 , 2012 and increased $ 7.7 billion during the year due to market and foreign exchange gains .", "these are complex mandates in which pension plan sponsors retain blackrock to assume responsibility for some or all aspects of plan management .", "these customized services require strong partnership with the clients 2019 investment staff and trustees in order to tailor investment strategies to meet client-specific risk budgets and return objectives .", "alternatives component changes in alternatives aum ( dollar amounts in millions ) 12/31/2011 net new business acquired market /fx app ( dep ) 12/31/2012 ." ]

[ "alternatives aum totaled $ 109.8 billion at year-end 2012 , up $ 4.8 billion , or 5% ( 5 % ) , reflecting $ 3.3 billion in portfolio valuation gains and $ 7.0 billion in new assets related to the acquisitions of srpep , which deepened our alternatives footprint in the european and asian markets , and claymore .", "core alternative outflows of $ 3.9 billion were driven almost exclusively by return of capital to clients .", "currency net outflows of $ 5.0 billion were partially offset by net inflows of $ 3.5 billion into ishares commodity funds .", "we continued to make significant investments in our alternatives platform as demonstrated by our acquisition of srpep , successful closes on the renewable power initiative and our build out of an alternatives retail platform , which now stands at nearly $ 10.0 billion in aum .", "we believe that as alternatives become more conventional and investors adapt their asset allocation strategies to best meet their investment objectives , they will further increase their use of alternative investments to complement core holdings .", "institutional investors represented 69% ( 69 % ) , or $ 75.8 billion , of alternatives aum with retail and hnw investors comprising an additional 9% ( 9 % ) , or $ 9.7 billion , at year-end 2012 .", "ishares commodity products accounted for the remaining $ 24.3 billion , or 22% ( 22 % ) , of aum at year-end .", "alternative clients are geographically diversified with 56% ( 56 % ) , 26% ( 26 % ) , and 18% ( 18 % ) of clients located in the americas , emea and asia-pacific , respectively .", "the blackrock alternative investors ( 201cbai 201d ) group coordinates our alternative investment efforts , including ." ]

[ [ "<i>(Dollar amounts in millions)</i>", "12/31/2011", "Net New Business", "Net Acquired", "Market /FX App (Dep)", "12/31/2012" ], [ "Core", "$63,647", "$(3,922)", "$6,166", "$2,476", "$68,367" ], [ "Currency and commodities", "41,301", "(1,547)", "860", "814", "41,428" ], [ "Alternatives", "$104,948", "$(5,469)", "$7,026", "$3,290", "$109,795" ] ]

[ [ "( dollar amounts in millions )", "12/31/2011", "net new business", "net acquired", "market /fx app ( dep )", "12/31/2012" ], [ "core", "$ 63647", "$ -3922 ( 3922 )", "$ 6166", "$ 2476", "$ 68367" ], [ "currency and commodities", "41301", "-1547 ( 1547 )", "860", "814", "41428" ], [ "alternatives", "$ 104948", "$ -5469 ( 5469 )", "$ 7026", "$ 3290", "$ 109795" ] ]

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[ "management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) net cash used in investing activities during 2013 primarily related to payments for capital expenditures and acquisitions .", "capital expenditures of $ 173.0 related primarily to computer hardware and software and leasehold improvements .", "we made payments of $ 61.5 related to acquisitions completed during 2013 , net of cash acquired .", "financing activities net cash used in financing activities during 2014 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends .", "during 2014 , we redeemed all $ 350.0 in aggregate principal amount of the 6.25% ( 6.25 % ) notes , repurchased 14.9 shares of our common stock for an aggregate cost of $ 275.1 , including fees , and made dividend payments of $ 159.0 on our common stock .", "this was offset by the issuance of $ 500.0 in aggregate principal amount of our 4.20% ( 4.20 % ) notes .", "net cash used in financing activities during 2013 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends .", "we redeemed all $ 600.0 in aggregate principal amount of our 10.00% ( 10.00 % ) notes .", "in addition , we repurchased 31.8 shares of our common stock for an aggregate cost of $ 481.8 , including fees , and made dividend payments of $ 126.0 on our common stock .", "foreign exchange rate changes the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 101.0 in 2014 .", "the decrease was primarily a result of the u.s .", "dollar being stronger than several foreign currencies , including the canadian dollar , brazilian real , australian dollar and the euro as of december 31 , 2014 compared to december 31 , 2013 .", "the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 94.1 in 2013 .", "the decrease was primarily a result of the u.s .", "dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , canadian dollar , japanese yen , and south african rand as of december 31 , 2013 compared to december 31 , 2012. ." ]

[ "liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months .", "we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs .", "we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends .", "from time to time , we evaluate market conditions and financing alternatives for opportunities to raise additional funds or otherwise improve our liquidity profile , enhance our financial flexibility and manage market risk .", "our ability to access the capital markets depends on a number of factors , which include those specific to us , such as our credit rating , and those related to the financial markets , such as the amount or terms of available credit .", "there can be no guarantee that we would be able to access new sources of liquidity on commercially reasonable terms , or at all. ." ]

[ [ "", "December 31," ], [ "Balance Sheet Data", "2014", "2013" ], [ "Cash, cash equivalents and marketable securities", "$1,667.2", "$1,642.1" ], [ "Short-term borrowings", "$107.2", "$179.1" ], [ "Current portion of long-term debt", "2.1", "353.6" ], [ "Long-term debt", "1,623.5", "1,129.8" ], [ "Total debt", "$1,732.8", "$1,662.5" ] ]

[ [ "balance sheet data", "december 31 , 2014", "december 31 , 2013" ], [ "cash cash equivalents and marketable securities", "$ 1667.2", "$ 1642.1" ], [ "short-term borrowings", "$ 107.2", "$ 179.1" ], [ "current portion of long-term debt", "2.1", "353.6" ], [ "long-term debt", "1623.5", "1129.8" ], [ "total debt", "$ 1732.8", "$ 1662.5" ] ]

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[ "consolidated income statement review our consolidated income statement is presented in item 8 of this report .", "net income for 2008 was $ 882 million and for 2007 was $ 1.467 billion .", "total revenue for 2008 increased 7% ( 7 % ) compared with 2007 .", "we created positive operating leverage in the year-to-date comparison as total noninterest expense increased 3% ( 3 % ) in the comparison .", "net interest income and net interest margin year ended december 31 dollars in millions 2008 2007 ." ]

[ "changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding .", "see statistical information 2013 analysis of year-to-year changes in net interest ( unaudited ) income and average consolidated balance sheet and net interest analysis in item 8 of this report for additional information .", "the 31% ( 31 % ) increase in net interest income for 2008 compared with 2007 was favorably impacted by the $ 16.5 billion , or 17% ( 17 % ) , increase in average interest-earning assets and a decrease in funding costs .", "the 2008 net interest margin was positively affected by declining rates paid on deposits and borrowings compared with the prior year .", "the reasons driving the higher interest-earning assets in these comparisons are further discussed in the balance sheet highlights portion of the executive summary section of this item 7 .", "the net interest margin was 3.37% ( 3.37 % ) for 2008 and 3.00% ( 3.00 % ) for 2007 .", "the following factors impacted the comparison : 2022 a decrease in the rate paid on interest-bearing liabilities of 140 basis points .", "the rate paid on interest-bearing deposits , the single largest component , decreased 123 basis points .", "2022 these factors were partially offset by a 77 basis point decrease in the yield on interest-earning assets .", "the yield on loans , the single largest component , decreased 109 basis points .", "2022 in addition , the impact of noninterest-bearing sources of funding decreased 26 basis points due to lower interest rates and a lower proportion of noninterest- bearing sources of funding to interest-earning assets .", "for comparing to the broader market , during 2008 the average federal funds rate was 1.94% ( 1.94 % ) compared with 5.03% ( 5.03 % ) for 2007 .", "we expect our full-year 2009 net interest income to benefit from the impact of interest accretion of discounts resulting from purchase accounting marks and deposit pricing alignment related to our national city acquisition .", "we also currently expect our 2009 net interest margin to improve on a year-over-year basis .", "noninterest income summary noninterest income was $ 3.367 billion for 2008 and $ 3.790 billion for 2007 .", "noninterest income for 2008 included the following : 2022 gains of $ 246 million related to the mark-to-market adjustment on our blackrock ltip shares obligation , 2022 losses related to our commercial mortgage loans held for sale of $ 197 million , net of hedges , 2022 impairment and other losses related to alternative investments of $ 179 million , 2022 income from hilliard lyons totaling $ 164 million , including the first quarter gain of $ 114 million from the sale of this business , 2022 net securities losses of $ 206 million , 2022 a first quarter gain of $ 95 million related to the redemption of a portion of our visa class b common shares related to visa 2019s march 2008 initial public offering , 2022 a third quarter $ 61 million reversal of a legal contingency reserve established in connection with an acquisition due to a settlement , 2022 trading losses of $ 55 million , 2022 a $ 35 million impairment charge on commercial mortgage servicing rights , and 2022 equity management losses of $ 24 million .", "noninterest income for 2007 included the following : 2022 the impact of $ 82 million gain recognized in connection with our transfer of blackrock shares to satisfy a portion of pnc 2019s ltip obligation and a $ 209 million net loss on our ltip shares obligation , 2022 income from hilliard lyons totaling $ 227 million , 2022 trading income of $ 104 million , 2022 equity management gains of $ 102 million , and 2022 gains related to our commercial mortgage loans held for sale of $ 3 million , net of hedges .", "apart from the impact of these items , noninterest income increased $ 16 million in 2008 compared with 2007 .", "additional analysis fund servicing fees increased $ 69 million in 2008 , to $ 904 million , compared with $ 835 million in 2007 .", "the impact of the december 2007 acquisition of albridge solutions inc .", "( 201calbridge solutions 201d ) and growth in global investment servicing 2019s offshore operations were the primary drivers of this increase .", "global investment servicing provided fund accounting/ administration services for $ 839 billion of net fund investment assets and provided custody services for $ 379 billion of fund ." ]

[ [ "Year ended December 31 Dollars in millions", "2008", "2007" ], [ "Net interest income", "$3,823", "$2,915" ], [ "Net interest margin", "3.37%", "3.00%" ] ]

[ [ "year ended december 31 dollars in millions", "2008", "2007" ], [ "net interest income", "$ 3823", "$ 2915" ], [ "net interest margin", "3.37% ( 3.37 % )", "3.00% ( 3.00 % )" ] ]

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[ "transfer agent and registrar for common stock the transfer agent and registrar for our common stock is : computershare shareowner services llc 480 washington boulevard 29th floor jersey city , new jersey 07310 telephone : ( 877 ) 363-6398 sales of unregistered securities not applicable .", "repurchase of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2015 to december 31 , 2015 .", "total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 ." ]

[ "1 included shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .", "we repurchased 1004 withheld shares in october 2015 , 1777 withheld shares in november 2015 and 9342 withheld shares in december 2015 .", "2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our stock repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our stock repurchase program .", "3 in february 2015 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2015 share repurchase program 201d ) .", "on february 12 , 2016 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock .", "the new authorization is in addition to any amounts remaining for repurchase under the 2015 share repurchase program .", "there is no expiration date associated with the share repurchase programs. ." ]

[ [ "", "Total Number ofShares (or Units)Purchased¹", "Average Price Paidper Share (or Unit)²", "Total Number ofShares (or Units)Purchased as Part ofPublicly AnnouncedPlans or Programs³", "Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs³" ], [ "October 1 - 31", "2,140,511", "$20.54", "2,139,507", "$227,368,014" ], [ "November 1 - 30", "1,126,378", "$22.95", "1,124,601", "$201,557,625" ], [ "December 1 - 31", "1,881,992", "$22.97", "1,872,650", "$158,553,178" ], [ "Total", "5,148,881", "$21.96", "5,136,758", "" ] ]

[ [ "", "total number ofshares ( or units ) purchased1", "average price paidper share ( or unit ) 2", "total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3", "maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs3" ], [ "october 1 - 31", "2140511", "$ 20.54", "2139507", "$ 227368014" ], [ "november 1 - 30", "1126378", "$ 22.95", "1124601", "$ 201557625" ], [ "december 1 - 31", "1881992", "$ 22.97", "1872650", "$ 158553178" ], [ "total", "5148881", "$ 21.96", "5136758", "" ] ]

[ { "arg1": "1881992", "arg2": "5148881", "op": "divide2-1", "res": "0.3655" }, { "arg1": "#0", "arg2": "const_100", "op": "multiply2-2", "res": "36.55" } ]

[ "period .", "the discount reflects our incremental borrowing rate , which matches the lifetime of the liability .", "significant changes in the discount rate selected or the estimations of sublease income in the case of leases could impact the amounts recorded .", "other associated costs with restructuring activities we recognize other costs associated with restructuring activities as they are incurred , including moving costs and consulting and legal fees .", "pensions we sponsor defined benefit pension plans throughout the world .", "our most significant plans are located in the u.s. , the u.k. , the netherlands and canada .", "our significant u.s. , u.k .", "and canadian pension plans are closed to new entrants .", "we have ceased crediting future benefits relating to salary and service for our u.s. , u.k .", "and canadian plans .", "recognition of gains and losses and prior service certain changes in the value of the obligation and in the value of plan assets , which may occur due to various factors such as changes in the discount rate and actuarial assumptions , actual demographic experience and/or plan asset performance are not immediately recognized in net income .", "such changes are recognized in other comprehensive income and are amortized into net income as part of the net periodic benefit cost .", "unrecognized gains and losses that have been deferred in other comprehensive income , as previously described , are amortized into compensation and benefits expense as a component of periodic pension expense based on the average expected future service of active employees for our plans in the netherlands and canada , or the average life expectancy of the u.s .", "and u.k .", "plan members .", "after the effective date of the plan amendments to cease crediting future benefits relating to service , unrecognized gains and losses are also be based on the average life expectancy of members in the canadian plans .", "we amortize any prior service expense or credits that arise as a result of plan changes over a period consistent with the amortization of gains and losses .", "as of december 31 , 2013 , our pension plans have deferred losses that have not yet been recognized through income in the consolidated financial statements .", "we amortize unrecognized actuarial losses outside of a corridor , which is defined as 10% ( 10 % ) of the greater of market-related value of plan assets or projected benefit obligation .", "to the extent not offset by future gains , incremental amortization as calculated above will continue to affect future pension expense similarly until fully amortized .", "the following table discloses our combined experience loss , the number of years over which we are amortizing the experience loss , and the estimated 2014 amortization of loss by country ( amounts in millions ) : ." ]

[ "the unrecognized prior service cost at december 31 , 2013 was $ 27 million in the u.k .", "and other plans .", "for the u.s .", "pension plans we use a market-related valuation of assets approach to determine the expected return on assets , which is a component of net periodic benefit cost recognized in the consolidated statements of income .", "this approach recognizes 20% ( 20 % ) of any gains or losses in the current year's value of market-related assets , with the remaining 80% ( 80 % ) spread over the next four years .", "as this approach recognizes gains or losses over a five-year period , the future value of assets and therefore , our net periodic benefit cost will be impacted as previously deferred gains or losses are recorded .", "as of december 31 , 2013 , the market-related value of assets was $ 1.8 billion .", "we do not use the market-related valuation approach to determine the funded status of the u.s .", "plans recorded in the consolidated statements of financial position .", "instead , we record and present the funded status in the consolidated statements of financial position based on the fair value of the plan assets .", "as of december 31 , 2013 , the fair value of plan assets was $ 1.9 billion .", "our non-u.s .", "plans use fair value to determine expected return on assets. ." ]

[ [ "", "U.K.", "U.S.", "Other" ], [ "Combined experience loss", "$2,012", "$1,219", "$402" ], [ "Amortization period (in years)", "29", "26", "11 - 23" ], [ "Estimated 2014 amortization of loss", "$53", "$44", "$10" ] ]

[ [ "", "u.k .", "u.s .", "other" ], [ "combined experience loss", "$ 2012", "$ 1219", "$ 402" ], [ "amortization period ( in years )", "29", "26", "11 - 23" ], [ "estimated 2014 amortization of loss", "$ 53", "$ 44", "$ 10" ] ]

[ { "arg1": "2012", "arg2": "1219", "op": "add1-1", "res": "3231" }, { "arg1": "#0", "arg2": "402", "op": "add1-2", "res": "3633" } ]

[ "issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2012 .", "period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( a ) amount available for future share repurchases the program ( b ) ( in millions ) ." ]

[ "( a ) we repurchased a total of 3.1 million shares of our common stock for $ 286 million during the quarter ended december 31 , 2012 under a share repurchase program that we announced in october 2010 .", "( b ) our board of directors has approved a share repurchase program for the repurchase of our common stock from time-to-time , authorizing an amount available for share repurchases of $ 6.5 billion .", "under the program , management has discretion to determine the dollar amount of shares to be repurchased and the timing of any repurchases in compliance with applicable law and regulation .", "the program does not have an expiration date .", "as of december 31 , 2012 , we had repurchased a total of 54.3 million shares under the program for $ 4.2 billion. ." ]

[ [ "Period", "Total Number of Shares Purchased", "Average Price Paid Per Share", "Total Number of Shares Purchased as Part of Publicly Announced Program⁽^a⁾", "Amount Available for Future Share Repurchases Under the Program⁽^b⁾ (in millions)" ], [ "October 1, 2012 – October 28, 2012", "842,445", "$93.38", "842,445", "$2,522" ], [ "October 29, 2012 – November 25, 2012", "872,973", "90.86", "872,973", "2,443" ], [ "November 26, 2012 – December 31, 2012", "1,395,288", "92.02", "1,395,288", "2,315" ], [ "Total", "3,110,706", "$92.07", "3,110,706", "$2,315" ] ]

[ [ "period", "total number of shares purchased", "average price paid per share", "total number of shares purchased as part of publicly announced program ( a )", "amount available for future share repurchases under the program ( b ) ( in millions )" ], [ "october 1 2012 2013 october 28 2012", "842445", "$ 93.38", "842445", "$ 2522" ], [ "october 29 2012 2013 november 25 2012", "872973", "90.86", "872973", "2443" ], [ "november 26 2012 2013 december 31 2012", "1395288", "92.02", "1395288", "2315" ], [ "total", "3110706", "$ 92.07", "3110706", "$ 2315" ] ]

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[ "consolidated income statement review net income for 2009 was $ 2.4 billion and for 2008 was $ 914 million .", "amounts for 2009 include operating results of national city and the fourth quarter impact of a $ 687 million after-tax gain related to blackrock 2019s acquisition of bgi .", "increases in income statement comparisons to 2008 , except as noted , are primarily due to the operating results of national city .", "our consolidated income statement is presented in item 8 of this report .", "net interest income and net interest margin year ended december 31 dollars in millions 2009 2008 ." ]

[ "changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding .", "see statistical information 2013 analysis of year-to-year changes in net interest ( unaudited ) income and average consolidated balance sheet and net interest analysis in item 8 of this report for additional information .", "higher net interest income for 2009 compared with 2008 reflected the increase in average interest-earning assets due to national city and the improvement in the net interest margin .", "the net interest margin was 3.82% ( 3.82 % ) for 2009 and 3.37% ( 3.37 % ) for 2008 .", "the following factors impacted the comparison : 2022 a decrease in the rate accrued on interest-bearing liabilities of 97 basis points .", "the rate accrued on interest-bearing deposits , the largest component , decreased 107 basis points .", "2022 these factors were partially offset by a 45 basis point decrease in the yield on interest-earning assets .", "the yield on loans , which represented the largest portion of our earning assets in 2009 , decreased 30 basis points .", "2022 in addition , the impact of noninterest-bearing sources of funding decreased 7 basis points .", "for comparing to the broader market , the average federal funds rate was .16% ( .16 % ) for 2009 compared with 1.94% ( 1.94 % ) for 2008 .", "we expect our net interest income for 2010 will likely be modestly lower as a result of cash recoveries on purchased impaired loans in 2009 and additional run-off of higher- yielding assets , which could be mitigated by rising interest rates .", "this assumes our current expectations for interest rates and economic conditions 2013 we include our current economic assumptions underlying our forward-looking statements in the cautionary statement regarding forward-looking information section of this item 7 .", "noninterest income summary noninterest income was $ 7.1 billion for 2009 and $ 2.4 billion for 2008 .", "noninterest income for 2009 included the following : 2022 the gain on blackrock/bgi transaction of $ 1.076 billion , 2022 net credit-related other-than-temporary impairments ( otti ) on debt and equity securities of $ 577 million , 2022 net gains on sales of securities of $ 550 million , 2022 gains on hedging of residential mortgage servicing rights of $ 355 million , 2022 valuation and sale income related to our commercial mortgage loans held for sale , net of hedges , of $ 107 million , 2022 gains of $ 103 million related to our blackrock ltip shares adjustment in the first quarter , and net losses on private equity and alternative investments of $ 93 million .", "noninterest income for 2008 included the following : 2022 net otti on debt and equity securities of $ 312 million , 2022 gains of $ 246 million related to our blackrock ltip shares adjustment , 2022 valuation and sale losses related to our commercial mortgage loans held for sale , net of hedges , of $ 197 million , 2022 impairment and other losses related to private equity and alternative investments of $ 180 million , 2022 income from hilliard lyons totaling $ 164 million , including the first quarter gain of $ 114 million from the sale of this business , 2022 net gains on sales of securities of $ 106 million , and 2022 a gain of $ 95 million related to the redemption of a portion of our visa class b common shares related to visa 2019s march 2008 initial public offering .", "additional analysis asset management revenue increased $ 172 million to $ 858 million in 2009 , compared with $ 686 million in 2008 .", "this increase reflected improving equity markets , new business generation and a shift in assets into higher yielding equity investments during the second half of 2009 .", "assets managed totaled $ 103 billion at both december 31 , 2009 and 2008 , including the impact of national city .", "the asset management group section of the business segments review section of this item 7 includes further discussion of assets under management .", "consumer services fees totaled $ 1.290 billion in 2009 compared with $ 623 million in 2008 .", "service charges on deposits totaled $ 950 million for 2009 and $ 372 million for 2008 .", "both increases were primarily driven by the impact of the national city acquisition .", "reduced consumer spending ." ]

[ [ "Year ended December 31 Dollars in millions", "2009", "2008" ], [ "Net interest income", "$9,083", "$3,854" ], [ "Net interest margin", "3.82%", "3.37%" ] ]

[ [ "year ended december 31 dollars in millions", "2009", "2008" ], [ "net interest income", "$ 9083", "$ 3854" ], [ "net interest margin", "3.82% ( 3.82 % )", "3.37% ( 3.37 % )" ] ]

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[ "performance based restricted stock awards is generally recognized using the accelerated amortization method with each vesting tranche valued as a separate award , with a separate vesting date , consistent with the estimated value of the award at each period end .", "additionally , compensation expense is adjusted for actual forfeitures for all awards in the period that the award was forfeited .", "compensation expense for stock options is generally recognized on a straight-line basis over the requisite service period .", "maa presents stock compensation expense in the consolidated statements of operations in \"general and administrative expenses\" .", "effective january 1 , 2017 , the company adopted asu 2016-09 , improvements to employee share- based payment accounting , which allows employers to make a policy election to account for forfeitures as they occur .", "the company elected this option using the modified retrospective transition method , with a cumulative effect adjustment to retained earnings , and there was no material effect on the consolidated financial position or results of operations taken as a whole resulting from the reversal of previously estimated forfeitures .", "total compensation expense under the stock plan was approximately $ 10.8 million , $ 12.2 million and $ 6.9 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .", "of these amounts , total compensation expense capitalized was approximately $ 0.2 million , $ 0.7 million and $ 0.7 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .", "as of december 31 , 2017 , the total unrecognized compensation expense was approximately $ 14.1 million .", "this cost is expected to be recognized over the remaining weighted average period of 1.2 years .", "total cash paid for the settlement of plan shares totaled $ 4.8 million , $ 2.0 million and $ 1.0 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .", "information concerning grants under the stock plan is listed below .", "restricted stock in general , restricted stock is earned based on either a service condition , performance condition , or market condition , or a combination thereof , and generally vests ratably over a period from 1 year to 5 years .", "service based awards are earned when the employee remains employed over the requisite service period and are valued on the grant date based upon the market price of maa common stock on the date of grant .", "market based awards are earned when maa reaches a specified stock price or specified return on the stock price ( price appreciation plus dividends ) and are valued on the grant date using a monte carlo simulation .", "performance based awards are earned when maa reaches certain operational goals such as funds from operations , or ffo , targets and are valued based upon the market price of maa common stock on the date of grant as well as the probability of reaching the stated targets .", "maa remeasures the fair value of the performance based awards each balance sheet date with adjustments made on a cumulative basis until the award is settled and the final compensation is known .", "the weighted average grant date fair value per share of restricted stock awards granted during the years ended december 31 , 2017 , 2016 and 2015 , was $ 84.53 , $ 73.20 and $ 68.35 , respectively .", "the following is a summary of the key assumptions used in the valuation calculations for market based awards granted during the years ended december 31 , 2017 , 2016 and 2015: ." ]

[ "the risk free rate was based on a zero coupon risk-free rate .", "the minimum risk free rate was based on a period of 0.25 years for the years ended december 31 , 2017 , 2016 and 2015 .", "the maximum risk free rate was based on a period of 3 years for the years ended december 31 , 2017 , 2016 and 2015 .", "the dividend yield was based on the closing stock price of maa stock on the date of grant .", "volatility for maa was obtained by using a blend of both historical and implied volatility calculations .", "historical volatility was based on the standard deviation of daily total continuous returns , and implied volatility was based on the trailing month average of daily implied volatilities interpolating between the volatilities implied by stock call option contracts that were closest to the terms shown and closest to the money .", "the minimum volatility was based on a period of 3 years , 2 years and 1 year for the years ended december 31 , 2017 , 2016 and 2015 , respectively .", "the maximum volatility was based on a period of 1 year , 1 year and 2 years for the years ended december 31 , 2017 , 2016 and 2015 , respectively .", "the requisite service period is based on the criteria for the separate programs according to the vesting schedule. ." ]

[ [ "", "2017", "2016", "2015" ], [ "Risk free rate", "0.65% - 1.57%", "0.49% - 1.27%", "0.10% - 1.05%" ], [ "Dividend yield", "3.573%", "3.634%", "3.932%" ], [ "Volatility", "20.43% - 21.85%", "18.41% - 19.45%", "15.41% - 16.04%" ], [ "Requisite service period", "3 years", "3 years", "3 years" ] ]

[ [ "", "2017", "2016", "2015" ], [ "risk free rate", "0.65% ( 0.65 % ) - 1.57% ( 1.57 % )", "0.49% ( 0.49 % ) - 1.27% ( 1.27 % )", "0.10% ( 0.10 % ) - 1.05% ( 1.05 % )" ], [ "dividend yield", "3.573% ( 3.573 % )", "3.634% ( 3.634 % )", "3.932% ( 3.932 % )" ], [ "volatility", "20.43% ( 20.43 % ) - 21.85% ( 21.85 % )", "18.41% ( 18.41 % ) - 19.45% ( 19.45 % )", "15.41% ( 15.41 % ) - 16.04% ( 16.04 % )" ], [ "requisite service period", "3 years", "3 years", "3 years" ] ]

[]

[ "sales of unregistered securities not applicable .", "repurchase of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2016 to december 31 , 2016 .", "total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 ." ]

[ "1 included shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .", "we repurchased no withheld shares in october 2016 , 1353 withheld shares in november 2016 and 10749 withheld shares in december 2016 , for a total of 12102 withheld shares during the three-month period .", "2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our share repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our share repurchase program .", "3 in february 2016 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2016 share repurchase program 201d ) .", "on february 10 , 2017 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock .", "the new authorization is in addition to any amounts remaining for repurchase under the 2016 share repurchase program .", "there is no expiration date associated with the share repurchase programs. ." ]

[ [ "", "Total Number ofShares (or Units)Purchased¹", "Average Price Paidper Share (or Unit)²", "Total Number ofShares (or Units)Purchased as Part ofPublicly AnnouncedPlans or Programs³", "Maximum Number (orApproximate Dollar Value)of Shares (or Units)that May Yet Be PurchasedUnder the Plans orPrograms³" ], [ "October 1 - 31", "2,099,169", "$22.28", "2,099,169", "$218,620,420" ], [ "November 1 - 30", "1,454,402", "$22.79", "1,453,049", "$185,500,851" ], [ "December 1 - 31", "1,269,449", "$23.93", "1,258,700", "$155,371,301" ], [ "Total", "4,823,020", "$22.87", "4,810,918", "" ] ]

[ [ "", "total number ofshares ( or units ) purchased1", "average price paidper share ( or unit ) 2", "total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3", "maximum number ( orapproximate dollar value ) of shares ( or units ) that may yet be purchasedunder the plans orprograms3" ], [ "october 1 - 31", "2099169", "$ 22.28", "2099169", "$ 218620420" ], [ "november 1 - 30", "1454402", "$ 22.79", "1453049", "$ 185500851" ], [ "december 1 - 31", "1269449", "$ 23.93", "1258700", "$ 155371301" ], [ "total", "4823020", "$ 22.87", "4810918", "" ] ]

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[ "continued investments in ecommerce and technology .", "the increase in operating expenses as a percentage of net sales for fiscal 2017 was partially offset by the impact of store closures in the fourth quarter of fiscal 2016 .", "membership and other income was relatively flat for fiscal 2018 and increased $ 1.0 billion a0for fiscal 2017 , when compared to the same period in the previous fiscal year .", "while fiscal 2018 included a $ 387 million gain from the sale of suburbia , a $ 47 million gain from a land sale , higher recycling income from our sustainability efforts and higher membership income from increased plus member penetration at sam's club , these gains were less than gains recognized in fiscal 2017 .", "fiscal 2017 included a $ 535 million gain from the sale of our yihaodian business and a $ 194 million gain from the sale of shopping malls in chile .", "for fiscal 2018 , loss on extinguishment of debt was a0$ 3.1 billion , due to the early extinguishment of long-term debt which allowed us to retire higher rate debt to reduce interest expense in future periods .", "our effective income tax rate was 30.4% ( 30.4 % ) for fiscal 2018 and 30.3% ( 30.3 % ) for both fiscal 2017 and 2016 .", "although relatively consistent year-over-year , our effective income tax rate may fluctuate from period to period as a result of factors including changes in our assessment of certain tax contingencies , valuation allowances , changes in tax laws , outcomes of administrative audits , the impact of discrete items and the mix of earnings among our u.s .", "operations and international operations .", "the reconciliation from the u.s .", "statutory rate to the effective income tax rates for fiscal 2018 , 2017 and 2016 is presented in note 9 in the \"notes to consolidated financial statements\" and describes the impact of the enactment of the tax cuts and jobs act of 2017 ( the \"tax act\" ) to the fiscal 2018 effective income tax rate .", "as a result of the factors discussed above , we reported $ 10.5 billion and $ 14.3 billion of consolidated net income for fiscal 2018 and 2017 , respectively , which represents a decrease of $ 3.8 billion and $ 0.8 billion for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year .", "diluted net income per common share attributable to walmart ( \"eps\" ) was $ 3.28 and $ 4.38 for fiscal 2018 and 2017 , respectively .", "walmart u.s .", "segment ." ]

[ "net sales for the walmart u.s .", "segment increased $ 10.6 billion or 3.5% ( 3.5 % ) and $ 9.5 billion or 3.2% ( 3.2 % ) for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year .", "the increases in net sales were primarily due to increases in comparable store sales of 2.1% ( 2.1 % ) and 1.6% ( 1.6 % ) for fiscal 2018 and 2017 , respectively , and year-over-year growth in retail square feet of 0.7% ( 0.7 % ) and 1.4% ( 1.4 % ) for fiscal 2018 and 2017 , respectively .", "additionally , for fiscal 2018 , sales generated from ecommerce acquisitions further contributed to the year-over-year increase .", "gross profit rate decreased 24 basis points for fiscal 2018 and increased 24 basis points for fiscal 2017 , when compared to the previous fiscal year .", "for fiscal 2018 , the decrease was primarily due to strategic price investments and the mix impact from ecommerce .", "partially offsetting the negative factors for fiscal 2018 was the positive impact of savings from procuring merchandise .", "for fiscal 2017 , the increase in gross profit rate was primarily due to improved margin in food and consumables , including the impact of savings in procuring merchandise and lower transportation expense from lower fuel costs .", "operating expenses as a percentage of segment net sales was relatively flat for fiscal 2018 and increased 101 basis points for fiscal 2017 , when compared to the previous fiscal year .", "fiscal 2018 and fiscal 2017 included charges related to discontinued real estate projects of $ 244 million and $ 249 million , respectively .", "for fiscal 2017 , the increase was primarily driven by an increase in wage expense due to the investment in the associate wage structure ; the charge related to discontinued real estate projects ; and investments in digital retail and technology .", "the increase in operating expenses as a percentage of segment net sales for fiscal 2017 was partially offset by the impact of store closures in fiscal 2016 .", "as a result of the factors discussed above , segment operating income increased $ 124 million for fiscal 2018 and decreased $ 1.3 billion for fiscal 2017 , respectively. ." ]

[ [ "", "Fiscal Years Ended January 31," ], [ "(Amounts in millions, except unit counts)", "2018", "2017", "2016" ], [ "Net sales", "$318,477", "$307,833", "$298,378" ], [ "Percentage change from comparable period", "3.5%", "3.2%", "3.6%" ], [ "Calendar comparable sales increase", "2.1%", "1.6%", "1.0%" ], [ "Operating income", "$17,869", "$17,745", "$19,087" ], [ "Operating income as a percentage of net sales", "5.6%", "5.8%", "6.4%" ], [ "Unit counts at period end", "4,761", "4,672", "4,574" ], [ "Retail square feet at period end", "705", "699", "690" ] ]

[ [ "( amounts in millions except unit counts )", "fiscal years ended january 31 , 2018", "fiscal years ended january 31 , 2017", "fiscal years ended january 31 , 2016" ], [ "net sales", "$ 318477", "$ 307833", "$ 298378" ], [ "percentage change from comparable period", "3.5% ( 3.5 % )", "3.2% ( 3.2 % )", "3.6% ( 3.6 % )" ], [ "calendar comparable sales increase", "2.1% ( 2.1 % )", "1.6% ( 1.6 % )", "1.0% ( 1.0 % )" ], [ "operating income", "$ 17869", "$ 17745", "$ 19087" ], [ "operating income as a percentage of net sales", "5.6% ( 5.6 % )", "5.8% ( 5.8 % )", "6.4% ( 6.4 % )" ], [ "unit counts at period end", "4761", "4672", "4574" ], [ "retail square feet at period end", "705", "699", "690" ] ]

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[ "future impairments would be recorded in income from continuing operations .", "the statement provides specific guidance for testing goodwill for impairment .", "the company had $ 3.2 billion of goodwill at december 31 , 2001 .", "goodwill amortization was $ 62 million for the year ended december 31 , 2001 .", "the company is currently assessing the impact of sfas no .", "142 on its financial position and results of operations .", "in june 2001 , the fasb issued sfas no .", "143 , 2018 2018accounting for asset retirement obligations , 2019 2019 which addresses financial accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated asset retirement costs .", "this statement is effective for financial statements issued for fiscal years beginning after june 15 , 2002 .", "the statement requires recognition of legal obligations associated with the retirement of a long-lived asset , except for certain obligations of lessees .", "the company is currently assessing the impact of sfas no .", "143 on its financial position and results of operations .", "in december 2001 , the fasb revised its earlier conclusion , derivatives implementation group ( 2018 2018dig 2019 2019 ) issue c-15 , related to contracts involving the purchase or sale of electricity .", "contracts for the purchase or sale of electricity , both forward and option contracts , including capacity contracts , may qualify for the normal purchases and sales exemption and are not required to be accounted for as derivatives under sfas no .", "133 .", "in order for contracts to qualify for this exemption , they must meet certain criteria , which include the requirement for physical delivery of the electricity to be purchased or sold under the contract only in the normal course of business .", "additionally , contracts that have a price based on an underlying that is not clearly and closely related to the electricity being sold or purchased or that are denominated in a currency that is foreign to the buyer or seller are not considered normal purchases and normal sales and are required to be accounted for as derivatives under sfas no .", "133 .", "this revised conclusion is effective beginning april 1 , 2002 .", "the company is currently assessing the impact of revised dig issue c-15 on its financial condition and results of operations .", "2001 compared to 2000 revenues revenues increased $ 1.8 billion , or 24% ( 24 % ) to $ 9.3 billion in 2001 from $ 7.5 billion in 2000 .", "the increase in revenues is due to the acquisition of new businesses , new operations from greenfield projects and positive improvements from existing operations .", "excluding businesses acquired or that commenced commercial operations in 2001 or 2000 , revenues increased 5% ( 5 % ) to $ 7.1 billion in 2001 .", "the following table shows the revenue of each segment: ." ]

[ "contract generation revenues increased $ 800 million , or 47% ( 47 % ) to $ 2.5 billion in 2001 from $ 1.7 billion in 2000 , principally resulting from the addition of revenues attributable to businesses acquired during 2001 or 2000 .", "excluding businesses acquired or that commenced commercial operations in 2001 or 2000 , contract generation revenues increased 2% ( 2 % ) to $ 1.7 billion in 2001 .", "the increase in contract generation segment revenues was due primarily to increases in south america , europe/africa and asia .", "in south america , contract generation segment revenues increased $ 472 million due mainly to the acquisition of gener and the full year of operations at uruguaiana offset by reduced revenues at tiete from the electricity rationing in brazil .", "in europe/africa , contract generation segment revenues increased $ 88 million , and the acquisition of a controlling interest in kilroot during 2000 was the largest contributor to the increase .", "in asia , contract generation segment revenues increased $ 96 million , and increased operations from our ecogen peaking plant was the most significant contributor to the ." ]

[ [ "", "2001", "2000", "% Change" ], [ "Contract generation", "$2.5 billion", "$1.7 billion", "47%" ], [ "Competitive supply", "$2.7 billion", "$2.4 billion", "13%" ], [ "Large utilities", "$2.4 billion", "$2.1 billion", "14%" ], [ "Growth distribution", "$1.7 billion", "$1.3 billion", "31%" ] ]

[ [ "", "2001", "2000", "% ( % ) change" ], [ "contract generation", "$ 2.5 billion", "$ 1.7 billion", "47% ( 47 % )" ], [ "competitive supply", "$ 2.7 billion", "$ 2.4 billion", "13% ( 13 % )" ], [ "large utilities", "$ 2.4 billion", "$ 2.1 billion", "14% ( 14 % )" ], [ "growth distribution", "$ 1.7 billion", "$ 1.3 billion", "31% ( 31 % )" ] ]

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[ "stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index .", "the graph assumes that the value of the investment in our common stock and in each index on december 31 , 2011 ( including reinvestment of dividends ) was $ 100 and tracks it each year thereafter on the last day of our fiscal year through december 31 , 2016 and , for each index , on the last day of the calendar year .", "comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc .", "nasdaq composite s&p 400 information technology 12/31/1612/28/13 1/2/1612/31/11 1/3/1512/29/12 *$ 100 invested on 12/31/11 in stock or index , including reinvestment of dividends .", "indexes calculated on month-end basis .", "copyright a9 2017 standard & poor 2019s , a division of s&p global .", "all rights reserved. ." ]

[ "the stock price performance included in this graph is not necessarily indicative of future stock price performance. ." ]

[ [ "", "12/31/2011", "12/29/2012", "12/28/2013", "1/3/2015", "1/2/2016", "12/31/2016" ], [ "Cadence Design Systems, Inc.", "100.00", "129.23", "133.94", "181.06", "200.10", "242.50" ], [ "NASDAQ Composite", "100.00", "116.41", "165.47", "188.69", "200.32", "216.54" ], [ "S&P 400 Information Technology", "100.00", "118.41", "165.38", "170.50", "178.74", "219.65" ] ]

[ [ "", "12/31/2011", "12/29/2012", "12/28/2013", "1/3/2015", "1/2/2016", "12/31/2016" ], [ "cadence design systems inc .", "100.00", "129.23", "133.94", "181.06", "200.10", "242.50" ], [ "nasdaq composite", "100.00", "116.41", "165.47", "188.69", "200.32", "216.54" ], [ "s&p 400 information technology", "100.00", "118.41", "165.38", "170.50", "178.74", "219.65" ] ]

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[ "utilized .", "in accordance with sfas no .", "144 , accounting for the impairment or disposal of long-lived assets , a non-cash impairment charge of $ 4.1 million was recorded in the second quarter of fiscal 2008 for the excess machinery .", "this charge is included as a separate line item in the company 2019s consolidated statement of operations .", "there was no change to useful lives and related depreciation expense of the remaining assets as the company believes these estimates are currently reflective of the period the assets will be used in operations .", "7 .", "warranties the company generally provides a one-year warranty on sequencing , genotyping and gene expression systems .", "at the time revenue is recognized , the company establishes an accrual for estimated warranty expenses associated with system sales .", "this expense is recorded as a component of cost of product revenue .", "estimated warranty expenses associated with extended maintenance contracts are recorded as cost of revenue ratably over the term of the maintenance contract .", "changes in the company 2019s reserve for product warranties from january 1 , 2006 through december 28 , 2008 are as follows ( in thousands ) : ." ]

[ "8 .", "convertible senior notes on february 16 , 2007 , the company issued $ 400.0 million principal amount of 0.625% ( 0.625 % ) convertible senior notes due 2014 ( the notes ) , which included the exercise of the initial purchasers 2019 option to purchase up to an additional $ 50.0 million aggregate principal amount of notes .", "the net proceeds from the offering , after deducting the initial purchasers 2019 discount and offering expenses , were $ 390.3 million .", "the company will pay 0.625% ( 0.625 % ) interest per annum on the principal amount of the notes , payable semi-annually in arrears in cash on february 15 and august 15 of each year .", "the company made interest payments of $ 1.3 million and $ 1.2 million on february 15 , 2008 and august 15 , 2008 , respectively .", "the notes mature on february 15 , the notes will be convertible into cash and , if applicable , shares of the company 2019s common stock , $ 0.01 par value per share , based on a conversion rate , subject to adjustment , of 45.8058 shares per $ 1000 principal amount of notes ( which represents a conversion price of $ 21.83 per share ) , only in the following circumstances and to the following extent : ( 1 ) during the five business-day period after any five consecutive trading period ( the measurement period ) in which the trading price per note for each day of such measurement period was less than 97% ( 97 % ) of the product of the last reported sale price of the company 2019s common stock and the conversion rate on each such day ; ( 2 ) during any calendar quarter after the calendar quarter ending march 30 , 2007 , if the last reported sale price of the company 2019s common stock for 20 or more trading days in a period of 30 consecutive trading days ending on the last trading day of the immediately illumina , inc .", "notes to consolidated financial statements 2014 ( continued ) ." ]

[ [ "Balance as of January 1, 2006", "$751" ], [ "Additions charged to cost of revenue", "1,379" ], [ "Repairs and replacements", "(1,134)" ], [ "Balance as of December 31, 2006", "996" ], [ "Additions charged to cost of revenue", "4,939" ], [ "Repairs and replacements", "(2,219)" ], [ "Balance as of December 30, 2007", "3,716" ], [ "Additions charged to cost of revenue", "13,044" ], [ "Repairs and replacements", "(8,557)" ], [ "Balance as of December 28, 2008", "$8,203" ] ]

[ [ "balance as of january 1 2006", "$ 751" ], [ "additions charged to cost of revenue", "1379" ], [ "repairs and replacements", "-1134 ( 1134 )" ], [ "balance as of december 31 2006", "996" ], [ "additions charged to cost of revenue", "4939" ], [ "repairs and replacements", "-2219 ( 2219 )" ], [ "balance as of december 30 2007", "3716" ], [ "additions charged to cost of revenue", "13044" ], [ "repairs and replacements", "-8557 ( 8557 )" ], [ "balance as of december 28 2008", "$ 8203" ] ]

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[ "available information .", "the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8- k , proxy statements and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestregroup.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) .", "item 1a .", "risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities .", "if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly .", "risks relating to our business fluctuations in the financial markets could result in investment losses .", "prolonged and severe disruptions in the overall public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio .", "although financial markets have significantly improved since 2008 , they could deteriorate in the future .", "there could also be disruption in individual market sectors , such as occurred in the energy sector during the fourth quarter of 2014 .", "such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings .", "our results could be adversely affected by catastrophic events .", "we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism .", "any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations .", "subsequent to april 1 , 2010 , we define a catastrophe as an event that causes a loss on property exposures before reinsurance of at least $ 10.0 million , before corporate level reinsurance and taxes .", "prior to april 1 , 2010 , we used a threshold of $ 5.0 million .", "by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: ." ]

[ "our losses from future catastrophic events could exceed our projections .", "we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool .", "we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area .", "these loss projections are approximations , reliant on a mix of quantitative and qualitative processes , and actual losses may exceed the projections by a material amount , resulting in a material adverse effect on our financial condition and results of operations. ." ]

[ [ "Calendar year:", "Pre-tax catastrophe losses" ], [ "(Dollars in millions)", "" ], [ "2014", "$62.2" ], [ "2013", "195.0" ], [ "2012", "410.0" ], [ "2011", "1,300.4" ], [ "2010", "571.1" ] ]

[ [ "calendar year:", "pre-tax catastrophe losses" ], [ "( dollars in millions )", "" ], [ "2014", "$ 62.2" ], [ "2013", "195.0" ], [ "2012", "410.0" ], [ "2011", "1300.4" ], [ "2010", "571.1" ] ]

[]

[ "tax benefits recognized for stock-based compensation during the years ended december 31 , 2011 , 2010 and 2009 , were $ 16 million , $ 6 million and $ 5 million , respectively .", "the amount of northrop grumman shares issued before the spin-off to satisfy stock-based compensation awards are recorded by northrop grumman and , accordingly , are not reflected in hii 2019s consolidated financial statements .", "the company realized tax benefits during the year ended december 31 , 2011 , of $ 2 million from the exercise of stock options and $ 10 million from the issuance of stock in settlement of rpsrs and rsrs .", "unrecognized compensation expense at december 31 , 2011 there was $ 1 million of unrecognized compensation expense related to unvested stock option awards , which will be recognized over a weighted average period of 1.1 years .", "in addition , at december 31 , 2011 , there was $ 19 million of unrecognized compensation expense associated with the 2011 rsrs , which will be recognized over a period of 2.2 years ; $ 10 million of unrecognized compensation expense associated with the rpsrs converted as part of the spin-off , which will be recognized over a weighted average period of one year ; and $ 18 million of unrecognized compensation expense associated with the 2011 rpsrs which will be recognized over a period of 2.0 years .", "stock options the compensation expense for the outstanding converted stock options was determined at the time of grant by northrop grumman .", "there were no additional options granted during the year ended december 31 , 2011 .", "the fair value of the stock option awards is expensed on a straight-line basis over the vesting period of the options .", "the fair value of each of the stock option award was estimated on the date of grant using a black-scholes option pricing model based on the following assumptions : dividend yield 2014the dividend yield was based on northrop grumman 2019s historical dividend yield level .", "volatility 2014expected volatility was based on the average of the implied volatility from traded options and the historical volatility of northrop grumman 2019s stock .", "risk-free interest rate 2014the risk-free rate for periods within the contractual life of the stock option award was based on the yield curve of a zero-coupon u.s .", "treasury bond on the date the award was granted with a maturity equal to the expected term of the award .", "expected term 2014the expected term of awards granted was derived from historical experience and represents the period of time that awards granted are expected to be outstanding .", "a stratification of expected terms based on employee populations ( executive and non-executive ) was considered in the analysis .", "the following significant weighted-average assumptions were used to value stock options granted during the years ended december 31 , 2010 and 2009: ." ]

[ "the weighted-average grant date fair value of stock options granted during the years ended december 31 , 2010 and 2009 , was $ 11 and $ 7 , per share , respectively. ." ]

[ [ "", "2010", "2009" ], [ "Dividend yield", "2.9%", "3.6%" ], [ "Volatility Rate", "25%", "25%" ], [ "Risk-free interest rate", "2.3%", "1.7%" ], [ "Expected option life (years)", "6", "5 & 6" ] ]

[ [ "", "2010", "2009" ], [ "dividend yield", "2.9% ( 2.9 % )", "3.6% ( 3.6 % )" ], [ "volatility rate", "25% ( 25 % )", "25% ( 25 % )" ], [ "risk-free interest rate", "2.3% ( 2.3 % )", "1.7% ( 1.7 % )" ], [ "expected option life ( years )", "6", "5 & 6" ] ]

[]

[ "management 2019s priorities management has re-evaluated its priorities following the appointment of its new ceo in september 2011 .", "management is focused on the following priorities : 2022 execution of our geographic concentration strategy to maximize shareholder value through disciplined capital allocation including : 2022 platform expansion in brazil , chile , colombia , and the united states , 2022 platform development in turkey , poland , and the united kingdom , 2022 corporate debt reduction , and 2022 a return of capital to shareholders , including our intent to initiate a dividend in 2012 ; 2022 closing the sales of businesses for which we have signed agreements with counterparties and prudently exiting select non-strategic markets ; 2022 optimizing profitability of operations in the existing portfolio ; 2022 integration of dpl into our portfolio ; 2022 implementing a management realignment of our businesses under two business lines : utilities and generation , and achieving cost savings through the alignment of overhead costs with business requirements , systems automation and optimal allocation of business development spending ; and 2022 completion of an approximately 2400 mw construction program and the integration of new projects into existing businesses .", "during the year ended december 31 , 2011 , the following projects commenced commercial operations : project location fuel aes equity interest ( percent , rounded ) aes solar ( 1 ) .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "various solar 62 50% ( 50 % ) ." ]

[ "trinidad ( 3 ) .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "trinidad gas 394 10% ( 10 % ) ( 1 ) aes solar energy ltd .", "is a joint venture with riverstone holdings and is accounted for as an equity method investment .", "plants that came online during the year include : kalipetrovo , ugento , soemina , francavilla fontana , latina , cocomeri , francofonte , scopeto , sabaudia , aprilla-1 , siracusa 1-3 complex , manduria apollo and rinaldone .", "( 2 ) joint venture with i.c .", "energy .", "( 3 ) an equity method investment held by aes .", "key trends and uncertainties our operations continue to face many risks as discussed in item 1a . 2014risk factors of this form 10-k .", "some of these challenges are also described below in 201ckey drivers of results in 2011 201d .", "we continue to monitor our operations and address challenges as they arise .", "operations in august 2010 , the esti power plant , a 120 mw run-of-river hydroelectric power plant in panama , was taken offline due to damage to its tunnel infrastructure .", "aes panama is partially covered for business ." ]

[ [ "Project", "Location", "Fuel", "Gross MW", "AES Equity Interest (Percent, Rounded)" ], [ "AES Solar⁽¹⁾", "Various", "Solar", "62", "50%" ], [ "Angamos", "Chile", "Coal", "545", "71%" ], [ "Changuinola", "Panama", "Hydro", "223", "100%" ], [ "Kumkoy⁽²⁾", "Turkey", "Hydro", "18", "51%" ], [ "Laurel Mountain", "US-WV", "Wind", "98", "100%" ], [ "Maritza", "Bulgaria", "Coal", "670", "100%" ], [ "Sao Joaquim", "Brazil", "Hydro", "3", "24%" ], [ "Trinidad⁽³⁾", "Trinidad", "Gas", "394", "10%" ] ]

[ [ "project", "location", "fuel", "gross mw", "aes equity interest ( percent rounded )" ], [ "aes solar ( 1 )", "various", "solar", "62", "50% ( 50 % )" ], [ "angamos", "chile", "coal", "545", "71% ( 71 % )" ], [ "changuinola", "panama", "hydro", "223", "100% ( 100 % )" ], [ "kumkoy ( 2 )", "turkey", "hydro", "18", "51% ( 51 % )" ], [ "laurel mountain", "us-wv", "wind", "98", "100% ( 100 % )" ], [ "maritza", "bulgaria", "coal", "670", "100% ( 100 % )" ], [ "sao joaquim", "brazil", "hydro", "3", "24% ( 24 % )" ], [ "trinidad ( 3 )", "trinidad", "gas", "394", "10% ( 10 % )" ] ]

[]

[ "part iii item 10 .", "directors , executive officers and corporate governance the information required by this item is incorporated by reference to the 201celection of directors 201d section , the 201cdirector selection process 201d section , the 201ccode of conduct 201d section , the 201cprincipal committees of the board of directors 201d section , the 201caudit committee 201d section and the 201csection 16 ( a ) beneficial ownership reporting compliance 201d section of the proxy statement for the annual meeting of stockholders to be held on may 21 , 2015 ( the 201cproxy statement 201d ) , except for the description of our executive officers , which appears in part i of this report on form 10-k under the heading 201cexecutive officers of ipg . 201d new york stock exchange certification in 2014 , our chief executive officer provided the annual ceo certification to the new york stock exchange , as required under section 303a.12 ( a ) of the new york stock exchange listed company manual .", "item 11 .", "executive compensation the information required by this item is incorporated by reference to the 201cexecutive compensation 201d section , the 201cnon- management director compensation 201d section , the 201ccompensation discussion and analysis 201d section and the 201ccompensation and leadership talent committee report 201d section of the proxy statement .", "item 12 .", "security ownership of certain beneficial owners and management and related stockholder matters the information required by this item is incorporated by reference to the 201coutstanding shares and ownership of common stock 201d section of the proxy statement , except for information regarding the shares of common stock to be issued or which may be issued under our equity compensation plans as of december 31 , 2014 , which is provided in the following table .", "equity compensation plan information plan category number of shares of common stock to be issued upon exercise of outstanding options , warrants and rights ( a ) 123 weighted-average exercise price of outstanding stock options number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "15563666 9.70 41661517 equity compensation plans not approved by security holders .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "none 1 included a total of 5866475 performance-based share awards made under the 2009 and 2014 performance incentive plans representing the target number of shares of common stock to be issued to employees following the completion of the 2012-2014 performance period ( the 201c2014 ltip share awards 201d ) , the 2013-2015 performance period ( the 201c2015 ltip share awards 201d ) and the 2014-2016 performance period ( the 201c2016 ltip share awards 201d ) , respectively .", "the computation of the weighted-average exercise price in column ( b ) of this table does not take the 2014 ltip share awards , the 2015 ltip share awards or the 2016 ltip share awards into account .", "2 included a total of 98877 restricted share units and performance-based awards ( 201cshare unit awards 201d ) which may be settled in shares of common stock or cash .", "the computation of the weighted-average exercise price in column ( b ) of this table does not take the share unit awards into account .", "each share unit award actually settled in cash will increase the number of shares of common stock available for issuance shown in column ( c ) .", "3 ipg has issued restricted cash awards ( 201cperformance cash awards 201d ) , half of which shall be settled in shares of common stock and half of which shall be settled in cash .", "using the 2014 closing stock price of $ 20.77 , the awards which shall be settled in shares of common stock represent rights to an additional 2721405 shares .", "these shares are not included in the table above .", "4 included ( i ) 29045044 shares of common stock available for issuance under the 2014 performance incentive plan , ( ii ) 12181214 shares of common stock available for issuance under the employee stock purchase plan ( 2006 ) and ( iii ) 435259 shares of common stock available for issuance under the 2009 non-management directors 2019 stock incentive plan. ." ]

[ "part iii item 10 .", "directors , executive officers and corporate governance the information required by this item is incorporated by reference to the 201celection of directors 201d section , the 201cdirector selection process 201d section , the 201ccode of conduct 201d section , the 201cprincipal committees of the board of directors 201d section , the 201caudit committee 201d section and the 201csection 16 ( a ) beneficial ownership reporting compliance 201d section of the proxy statement for the annual meeting of stockholders to be held on may 21 , 2015 ( the 201cproxy statement 201d ) , except for the description of our executive officers , which appears in part i of this report on form 10-k under the heading 201cexecutive officers of ipg . 201d new york stock exchange certification in 2014 , our chief executive officer provided the annual ceo certification to the new york stock exchange , as required under section 303a.12 ( a ) of the new york stock exchange listed company manual .", "item 11 .", "executive compensation the information required by this item is incorporated by reference to the 201cexecutive compensation 201d section , the 201cnon- management director compensation 201d section , the 201ccompensation discussion and analysis 201d section and the 201ccompensation and leadership talent committee report 201d section of the proxy statement .", "item 12 .", "security ownership of certain beneficial owners and management and related stockholder matters the information required by this item is incorporated by reference to the 201coutstanding shares and ownership of common stock 201d section of the proxy statement , except for information regarding the shares of common stock to be issued or which may be issued under our equity compensation plans as of december 31 , 2014 , which is provided in the following table .", "equity compensation plan information plan category number of shares of common stock to be issued upon exercise of outstanding options , warrants and rights ( a ) 123 weighted-average exercise price of outstanding stock options number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "15563666 9.70 41661517 equity compensation plans not approved by security holders .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "none 1 included a total of 5866475 performance-based share awards made under the 2009 and 2014 performance incentive plans representing the target number of shares of common stock to be issued to employees following the completion of the 2012-2014 performance period ( the 201c2014 ltip share awards 201d ) , the 2013-2015 performance period ( the 201c2015 ltip share awards 201d ) and the 2014-2016 performance period ( the 201c2016 ltip share awards 201d ) , respectively .", "the computation of the weighted-average exercise price in column ( b ) of this table does not take the 2014 ltip share awards , the 2015 ltip share awards or the 2016 ltip share awards into account .", "2 included a total of 98877 restricted share units and performance-based awards ( 201cshare unit awards 201d ) which may be settled in shares of common stock or cash .", "the computation of the weighted-average exercise price in column ( b ) of this table does not take the share unit awards into account .", "each share unit award actually settled in cash will increase the number of shares of common stock available for issuance shown in column ( c ) .", "3 ipg has issued restricted cash awards ( 201cperformance cash awards 201d ) , half of which shall be settled in shares of common stock and half of which shall be settled in cash .", "using the 2014 closing stock price of $ 20.77 , the awards which shall be settled in shares of common stock represent rights to an additional 2721405 shares .", "these shares are not included in the table above .", "4 included ( i ) 29045044 shares of common stock available for issuance under the 2014 performance incentive plan , ( ii ) 12181214 shares of common stock available for issuance under the employee stock purchase plan ( 2006 ) and ( iii ) 435259 shares of common stock available for issuance under the 2009 non-management directors 2019 stock incentive plan. ." ]

[ [ "Plan Category", "Number of Shares of Common Stock to be Issued Upon Exercise of Outstanding Options, Warrants and Rights (a)^1,2,3", "Weighted-Average Exercise Price of Outstanding Stock Options (b)", "Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a))(c)⁴" ], [ "Equity Compensation Plans Approved by Security Holders", "15,563,666", "9.70", "41,661,517" ], [ "Equity Compensation Plans Not Approved by Security Holders", "None", "", "" ] ]

[ [ "plan category", "number of shares of common stock to be issued upon exercise of outstanding options warrants and rights ( a ) 123", "weighted-average exercise price of outstanding stock options ( b )", "number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c ) 4" ], [ "equity compensation plans approved by security holders", "15563666", "9.70", "41661517" ], [ "equity compensation plans not approved by security holders", "none", "", "" ] ]

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[ "z i m m e r h o l d i n g s , i n c .", "a n d s u b s i d i a r i e s 2 0 0 2 f o r m 1 0 - k contractual obligations the company has entered into contracts with various third parties in the normal course of business which will require future payments .", "the following table illustrates the company 2019s contractual obligations : than 1 1 - 3 4 - 5 after 5 contractual obligations total year years years years ." ]

[ "critical accounting policies equipment based on historical patterns of use and physical and technological characteristics of assets , as the financial results of the company are affected by the appropriate .", "in accordance with statement of financial selection and application of accounting policies and methods .", "accounting standards ( 2018 2018sfas 2019 2019 ) no .", "144 , 2018 2018accounting for significant accounting policies which , in some cases , require the impairment or disposal of long-lived assets , 2019 2019 the management 2019s judgment are discussed below .", "company reviews property , plant and equipment for revenue recognition 2013 a significant portion of the com- impairment whenever events or changes in circumstances pany 2019s revenue is recognized for field based product upon indicate that the carrying value of an asset may not be notification that the product has been implanted or used .", "recoverable .", "an impairment loss would be recognized for all other transactions , the company recognizes when estimated future cash flows relating to the asset revenue when title is passed to customers , generally are less than its carrying amount .", "upon shipment .", "estimated returns and allowances are derivative financial instruments 2013 critical aspects of recorded as a reduction of sales when the revenue is the company 2019s accounting policy for derivative financial recognized .", "instruments include conditions which require that critical inventories 2013 the company must determine as of each terms of a hedging instrument are essentially the same as balance sheet date how much , if any , of its inventory may a hedged forecasted transaction .", "another important ele- ultimately prove to be unsaleable or unsaleable at its ment of the policy requires that formal documentation be carrying cost .", "reserves are established to effectively maintained as required by the sfas no .", "133 , 2018 2018accounting adjust any such inventory to net realizable value .", "to for derivative instruments and hedging activities . 2019 2019 fail- determine the appropriate level of reserves , the company ure to comply with these conditions would result in a evaluates current stock levels in relation to historical and requirement to recognize changes in market value of expected patterns of demand for all of its products .", "a hedge instruments in earnings as they occur .", "manage- series of algorithms is applied to the data to assist ment routinely monitors significant estimates , assump- management in its evaluation .", "management evaluates the tions and judgments associated with derivative need for changes to valuation reserves based on market instruments , and compliance with formal documentation conditions , competitive offerings and other factors on a requirements .", "regular basis .", "further information about inventory stock compensation 2013 the company applies the provi- reserves is provided in notes to the consolidated financial sions of apb opinion no .", "25 , 2018 2018accounting for stock statements .", "issued to employees , 2019 2019 in accounting for stock-based instruments 2013 the company , as is customary in the compensation ; therefore , no compensation expense has industry , consigns surgical instruments for use in been recognized for its fixed stock option plans as orthopaedic procedures with the company 2019s products .", "options are granted at fair market value .", "sfas no .", "123 , the company 2019s accounting policy requires that the full 2018 2018accounting for stock-based compensation 2019 2019 provides an cost of instruments be recognized as an expense in the alternative method of accounting for stock options based year in which the instruments are placed in service .", "an on an option pricing model , such as black-scholes .", "the alternative to this method is to depreciate the cost of company has adopted the disclosure requirements of instruments over their useful lives .", "the company may sfas no .", "123 and sfas no .", "148 , 2018 2018accounting for stock- from time to time consider a change in accounting for based compensation-transition and disclosure . 2019 2019 informa- instruments to better align its accounting policy with tion regarding compensation expense under the alterna- certain company competitors .", "tive method is provided in notes to the consolidated financial statements .", "property , plant and equipment 2013 the company deter- mines estimated useful lives of property , plant and ." ]

[ [ "Contractual Obligations", "Total", "Less Than 1 Year", "1 - 3 Years", "4 - 5 Years", "After 5 Years" ], [ "Short-term debt", "$156.7", "$156.7", "$–", "$–", "$–" ], [ "Operating leases", "36.9", "8.3", "12.7", "7.3", "8.6" ], [ "Minimum purchase commitments", "25.0", "25.0", "–", "–", "–" ], [ "Total contractual obligations", "$218.6", "$190.0", "$12.7", "$7.3", "$8.6" ] ]

[ [ "contractual obligations", "total", "less than 1 year", "1 - 3 years", "4 - 5 years", "after 5 years" ], [ "short-term debt", "$ 156.7", "$ 156.7", "$ 2013", "$ 2013", "$ 2013" ], [ "operating leases", "36.9", "8.3", "12.7", "7.3", "8.6" ], [ "minimum purchase commitments", "25.0", "25.0", "2013", "2013", "2013" ], [ "total contractual obligations", "$ 218.6", "$ 190.0", "$ 12.7", "$ 7.3", "$ 8.6" ] ]

[]

[ "2 0 0 8 a n n u a l r e p o r t stock performance graph the following graph sets forth the performance of our series a common , series b common stock , and series c common stock for the period september 18 , 2008 through december 31 , 2008 as compared with the performance of the standard and poor 2019s 500 index and a peer group index which consists of the walt disney company , time warner inc. , cbs corporation class b common stock , viacom , inc .", "class b common stock , news corporation class a common stock , and scripps network interactive , inc .", "the graph assumes $ 100 originally invested on september 18 , 2006 and that all subsequent dividends were reinvested in additional shares .", "september 18 , september 30 , december 31 , 2008 2008 2008 ." ]

[ "s&p 500 peer group ." ]

[ [ "", "September 18, 2008", "September 30, 2008", "December 31, 2008" ], [ "DISCA", "$100.00", "$103.19", "$102.53" ], [ "DISCB", "$100.00", "$105.54", "$78.53" ], [ "DISCK", "$100.00", "$88.50", "$83.69" ], [ "S&P 500", "$100.00", "$96.54", "$74.86" ], [ "Peer Group", "$100.00", "$92.67", "$68.79" ] ]

[ [ "", "september 18 2008", "september 30 2008", "december 31 2008" ], [ "disca", "$ 100.00", "$ 103.19", "$ 102.53" ], [ "discb", "$ 100.00", "$ 105.54", "$ 78.53" ], [ "disck", "$ 100.00", "$ 88.50", "$ 83.69" ], [ "s&p 500", "$ 100.00", "$ 96.54", "$ 74.86" ], [ "peer group", "$ 100.00", "$ 92.67", "$ 68.79" ] ]

[ { "arg1": "102.53", "arg2": "const_100", "op": "minus1-1", "res": "2.53" }, { "arg1": "#0", "arg2": "const_100", "op": "divide1-2", "res": "2.53%" } ]

[ "management 2019s discussion and analysis value of the company 2019s obligation relating to asbestos claims under the ppg settlement arrangement .", "the legal settlements net of insurance included aftertax charges of $ 80 million for the marvin legal settlement , net of insurance recoveries of $ 11 million , and $ 37 million for the impact of the federal glass class action antitrust legal settlement .", "results of reportable business segments net sales segment income ( millions ) 2006 2005 2006 2005 ." ]

[ "industrial coatings sales increased $ 315 million or 11% ( 11 % ) in 2006 .", "sales increased 4% ( 4 % ) due to acquisitions , 4% ( 4 % ) due to increased volumes in the automotive , industrial and packaging coatings operating segments , 2% ( 2 % ) due to higher selling prices , particularly in the industrial and packaging coatings businesses and 1% ( 1 % ) due to the positive effects of foreign currency translation .", "segment income increased $ 65 million in 2006 .", "the increase in segment income was primarily due to the impact of increased sales volume , lower overhead and manufacturing costs , and the impact of acquisitions .", "segment income was reduced by the adverse impact of inflation , which was substantially offset by higher selling prices .", "performance and applied coatings sales increased $ 420 million or 16% ( 16 % ) in 2006 .", "sales increased 8% ( 8 % ) due to acquisitions , 4% ( 4 % ) due to higher selling prices in the refinish , aerospace and architectural coatings operating segments , 3% ( 3 % ) due to increased volumes in our aerospace and architectural coatings businesses and 1% ( 1 % ) due to the positive effects of foreign currency translation .", "segment income increased $ 50 million in 2006 .", "the increase in segment income was primarily due to the impact of increased sales volume and higher selling prices , which more than offset the impact of inflation .", "segment income was reduced by increased overhead costs to support growth in our architectural coatings business .", "optical and specialty materials sales increased $ 134 million or 15% ( 15 % ) in 2006 .", "sales increased 10% ( 10 % ) due to higher volumes , particularly in optical products and fine chemicals and 5% ( 5 % ) due to acquisitions in our optical products business .", "segment income increased $ 65 million in 2006 .", "the absence of the 2005 charge for an asset impairment in our fine chemicals business increased segment income by $ 27 million .", "the remaining $ 38 million increase in segment income was primarily due to increased volumes , lower manufacturing costs , and the absence of the 2005 hurricane costs of $ 3 million , net of 2006 insurance recoveries , which were only partially offset by increased overhead costs in our optical products business to support growth and the negative impact of inflation .", "commodity chemicals sales decreased $ 48 million or 3% ( 3 % ) in 2006 .", "sales decreased 4% ( 4 % ) due to lower chlor-alkali volumes and increased 1% ( 1 % ) due to higher selling prices .", "segment income decreased $ 28 million in 2006 .", "the year- over-year decline in segment income was due primarily to lower sales volumes and higher manufacturing costs associated with reduced production levels .", "the absence of the 2005 charges for direct costs related to hurricanes increased segment income by $ 29 million .", "the impact of higher selling prices ; lower inflation , primarily natural gas costs , and an insurance recovery of $ 10 million related to the 2005 hurricane losses also increased segment income in 2006 .", "our fourth-quarter chlor-alkali sales volumes and earnings were negatively impacted by production outages at several customers over the last two months of 2006 .", "it is uncertain when some of these customers will return to a normal level of production which may impact the sales and earnings of our chlor-alkali business in early 2007 .", "glass sales increased $ 15 million or 1% ( 1 % ) in 2006 .", "sales increased 1% ( 1 % ) due to improved volumes resulting from a combination of organic growth and an acquisition .", "a slight positive impact on sales due to foreign currency translation offset a slight decline in pricing .", "volumes increased in the performance glazings , automotive replacement glass and services and fiber glass businesses .", "automotive oem glass volume declined during 2006 .", "pricing was also up in performance glazings , but declined in the other glass businesses .", "segment income increased $ 25 million in 2006 .", "this increase in segment income was primarily the result of higher equity earnings from our asian fiber glass joint ventures , higher royalty income and lower manufacturing and natural gas costs , which more than offset the negative impacts of higher inflation , lower margin mix of sales and reduced selling prices .", "our fiber glass operating segment made progress during 2006 in achieving our multi-year plan to improve profitability and cash flow .", "a transformation of our supply chain , which includes production of a more focused product mix at each manufacturing plant , manufacturing cost reduction initiatives and improved equity earnings from our asian joint ventures are the primary focus and represent the critical success factors in this plan .", "during 2006 , our new joint venture in china started producing high labor content fiber glass reinforcement products , which will allow us to refocus our u.s .", "production capacity on higher margin , direct process products .", "the 2006 earnings improvement by our fiber glass operating segment accounted for the bulk of the 2006 improvement in the glass reportable business segment income .", "20 2006 ppg annual report and form 10-k 4282_txt ." ]

[ [ "", "<i>Net sales</i>", "<i>Segment income</i>" ], [ "<i>(Millions)</i>", "2006", "2005", "2006", "2005" ], [ "Industrial Coatings", "$3,236", "$2,921", "$349", "$284" ], [ "Performance and Applied Coatings", "3,088", "2,668", "514", "464" ], [ "Optical and Specialty Materials", "1,001", "867", "223", "158" ], [ "Commodity Chemicals", "1,483", "1,531", "285", "313" ], [ "Glass", "2,229", "2,214", "148", "123" ] ]

[ [ "( millions )", "net sales 2006", "net sales 2005", "net sales 2006", "2005" ], [ "industrial coatings", "$ 3236", "$ 2921", "$ 349", "$ 284" ], [ "performance and applied coatings", "3088", "2668", "514", "464" ], [ "optical and specialty materials", "1001", "867", "223", "158" ], [ "commodity chemicals", "1483", "1531", "285", "313" ], [ "glass", "2229", "2214", "148", "123" ] ]

[ { "arg1": "27", "arg2": "158", "op": "add2-1", "res": "185" }, { "arg1": "27", "arg2": "#0", "op": "divide2-2", "res": "14.6%" } ]

[ "facility continue to have a maturity date of october 2016 .", "in addition , the maturity date of the company's revolving credit facility was extended to october 2018 and the facility was increased to $ 900 million from $ 600 million .", "accordingly , the amended credit agreement consists of the term c-2 loan facility , the term c-3 loan facility and a $ 900 million revolving credit facility .", "net deferred financing costs are as follows : net deferred financing costs ( in $ millions ) ." ]

[ "____________________________ ( 1 ) relates to the issuance of the 4.625% ( 4.625 % ) notes .", "( 2 ) relates to the $ 400 million prepayment of the term c loan facility with proceeds from the 4.625% ( 4.625 % ) notes .", "( 3 ) relates to the september 2013 amendment to the celanese us existing senior secured credit facilities to reduce the interest rates payable in connection with certain borrowings thereby creating the term c-2 loan facility due 2016 .", "( 4 ) includes $ 6 million related to the issuance of the 3.250% ( 3.250 % ) notes and $ 4 million related to the september 24 , 2014 amendment to the celanese us existing senior secured credit facilities .", "( 5 ) includes $ 4 million related to the 6.625% ( 6.625 % ) notes redemption and $ 1 million related to the term c-2 loan facility conversion .", "as of december 31 , 2014 , the margin for borrowings under the term c-2 loan facility was 2.0% ( 2.0 % ) above the euro interbank offered rate ( \"euribor\" ) and the margin for borrowings under the term c-3 loan facility was 2.25% ( 2.25 % ) above libor ( for us dollars ) and 2.25% ( 2.25 % ) above euribor ( for euros ) , as applicable .", "as of december 31 , 2014 , the margin for borrowings under the revolving credit facility was 1.5% ( 1.5 % ) above libor .", "the margin for borrowings under the revolving credit facility is subject to increase or decrease in certain circumstances based on changes in the corporate credit ratings of celanese or celanese us .", "term loan borrowings under the amended credit agreement are subject to amortization at 1% ( 1 % ) of the initial principal amount per annum , payable quarterly .", "in addition , the company pays quarterly commitment fees on the unused portion of the revolving credit facility of 0.25% ( 0.25 % ) per annum .", "the amended credit agreement is guaranteed by celanese and certain domestic subsidiaries of celanese us and is secured by a lien on substantially all assets of celanese us and such guarantors , subject to certain agreed exceptions ( including for certain real property and certain shares of foreign subsidiaries ) , pursuant to the guarantee and collateral agreement , dated april 2 , as a condition to borrowing funds or requesting letters of credit be issued under the revolving credit facility , the company's first lien senior secured leverage ratio ( as calculated as of the last day of the most recent fiscal quarter for which financial statements have been delivered under the revolving facility ) cannot exceed the threshold as specified below .", "further , the company's first lien senior secured leverage ratio must be maintained at or below that threshold while any amounts are outstanding under the revolving credit facility. ." ]

[ [ "", "Net Deferred Financing Costs (In $ millions)" ], [ "As of December 31, 2011", "28" ], [ "Financing costs deferred⁽¹⁾", "8" ], [ "Accelerated amortization due to refinancing activity⁽²⁾", "(1)" ], [ "Amortization", "(5)" ], [ "As of December 31, 2012", "30" ], [ "Financing costs deferred⁽³⁾", "2" ], [ "Accelerated amortization due to refinancing activity", "—" ], [ "Amortization", "(5)" ], [ "As of December 31, 2013", "27" ], [ "Financing costs deferred⁽⁴⁾", "10" ], [ "Accelerated amortization due to refinancing activity⁽⁵⁾", "(5)" ], [ "Amortization", "(5)" ], [ "As of December 31, 2014", "27" ] ]

[ [ "", "net deferred financing costs ( in $ millions )" ], [ "as of december 31 2011", "28" ], [ "financing costs deferred ( 1 )", "8" ], [ "accelerated amortization due to refinancing activity ( 2 )", "-1 ( 1 )" ], [ "amortization", "-5 ( 5 )" ], [ "as of december 31 2012", "30" ], [ "financing costs deferred ( 3 )", "2" ], [ "accelerated amortization due to refinancing activity", "2014" ], [ "amortization", "-5 ( 5 )" ], [ "as of december 31 2013", "27" ], [ "financing costs deferred ( 4 )", "10" ], [ "accelerated amortization due to refinancing activity ( 5 )", "-5 ( 5 )" ], [ "amortization", "-5 ( 5 )" ], [ "as of december 31 2014", "27" ] ]

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[ "devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) proved undeveloped reserves the following table presents the changes in devon 2019s total proved undeveloped reserves during 2015 ( mmboe ) . ." ]

[ "proved undeveloped reserves decreased 45% ( 45 % ) from year-end 2014 to year-end 2015 , and the year-end 2015 balance represents 17% ( 17 % ) of total proved reserves .", "drilling and development activities increased devon 2019s proved undeveloped reserves 24 mmboe and resulted in the conversion of 182 mmboe , or 26% ( 26 % ) , of the 2014 proved undeveloped reserves to proved developed reserves .", "costs incurred to develop and convert devon 2019s proved undeveloped reserves were approximately $ 2.2 billion for 2015 .", "additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 120 mmboe primarily due to evaluations of certain properties in the u.s .", "and canada .", "the largest revisions , which reduced reserves by 80 mmboe , relate to evaluations of jackfish bitumen reserves .", "of the 40 mmboe revisions recorded for u.s .", "properties , a reduction of approximately 27 mmboe represents reserves that devon now does not expect to develop in the next five years , including 20 mmboe attributable to the eagle ford .", "a significant amount of devon 2019s proved undeveloped reserves at the end of 2015 related to its jackfish operations .", "at december 31 , 2015 and 2014 , devon 2019s jackfish proved undeveloped reserves were 301 mmboe and 384 mmboe , respectively .", "development schedules for the jackfish reserves are primarily controlled by the need to keep the processing plants at their 35 mbbl daily facility capacity .", "processing plant capacity is controlled by factors such as total steam processing capacity and steam-oil ratios .", "furthermore , development of these projects involves the up-front construction of steam injection/distribution and bitumen processing facilities .", "due to the large up-front capital investments and large reserves required to provide economic returns , the project conditions meet the specific circumstances requiring a period greater than 5 years for conversion to developed reserves .", "as a result , these reserves are classified as proved undeveloped for more than five years .", "currently , the development schedule for these reserves extends through to 2030 .", "at the end of 2015 , approximately 184 mmboe of proved undeveloped reserves at jackfish have remained undeveloped for five years or more since the initial booking .", "no other projects have proved undeveloped reserves that have remained undeveloped more than five years from the initial booking of the reserves .", "furthermore , approximately 180 mmboe of proved undeveloped reserves at jackfish will require in excess of five years , from the date of this filing , to develop .", "price revisions 2015 2013 reserves decreased 302 mmboe primarily due to lower commodity prices across all products .", "the lower bitumen price increased canadian reserves due to the decline in royalties , which increases devon 2019s after- royalty volumes .", "2014 2013 reserves increased 9 mmboe primarily due to higher gas prices in the barnett shale and the anadarko basin , partially offset by higher bitumen prices , which result in lower after-royalty volumes , in canada. ." ]

[ [ "", "U.S.", "Canada", "Total" ], [ "Proved undeveloped reserves as of December 31, 2014", "305", "384", "689" ], [ "Extensions and discoveries", "13", "11", "24" ], [ "Revisions due to prices", "(115)", "80", "(35)" ], [ "Revisions other than price", "(40)", "(80)", "(120)" ], [ "Conversion to proved developed reserves", "(88)", "(94)", "(182)" ], [ "Proved undeveloped reserves as of December 31, 2015", "75", "301", "376" ] ]

[ [ "", "u.s .", "canada", "total" ], [ "proved undeveloped reserves as of december 31 2014", "305", "384", "689" ], [ "extensions and discoveries", "13", "11", "24" ], [ "revisions due to prices", "-115 ( 115 )", "80", "-35 ( 35 )" ], [ "revisions other than price", "-40 ( 40 )", "-80 ( 80 )", "-120 ( 120 )" ], [ "conversion to proved developed reserves", "-88 ( 88 )", "-94 ( 94 )", "-182 ( 182 )" ], [ "proved undeveloped reserves as of december 31 2015", "75", "301", "376" ] ]

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[ "financial statement impact we believe that our accruals for sales returns , rebates , and discounts are reasonable and appropriate based on current facts and circumstances .", "our global rebate and discount liabilities are included in sales rebates and discounts on our consolidated balance sheet .", "our global sales return liability is included in other current liabilities and other noncurrent liabilities on our consolidated balance sheet .", "as of december 31 , 2018 , a 5 percent change in our global sales return , rebate , and discount liability would have led to an approximate $ 275 million effect on our income before income taxes .", "the portion of our global sales return , rebate , and discount liability resulting from sales of our products in the u.s .", "was approximately 90 percent as of december 31 , 2018 and december 31 , 2017 .", "the following represents a roll-forward of our most significant u.s .", "pharmaceutical sales return , rebate , and discount liability balances , including managed care , medicare , and medicaid: ." ]

[ "( 1 ) adjustments of the estimates for these returns , rebates , and discounts to actual results were approximately 1 percent of consolidated net sales for each of the years presented .", "product litigation liabilities and other contingencies background and uncertainties product litigation liabilities and other contingencies are , by their nature , uncertain and based upon complex judgments and probabilities .", "the factors we consider in developing our product litigation liability reserves and other contingent liability amounts include the merits and jurisdiction of the litigation , the nature and the number of other similar current and past matters , the nature of the product and the current assessment of the science subject to the litigation , and the likelihood of settlement and current state of settlement discussions , if any .", "in addition , we accrue for certain product liability claims incurred , but not filed , to the extent we can formulate a reasonable estimate of their costs based primarily on historical claims experience and data regarding product usage .", "we accrue legal defense costs expected to be incurred in connection with significant product liability contingencies when both probable and reasonably estimable .", "we also consider the insurance coverage we have to diminish the exposure for periods covered by insurance .", "in assessing our insurance coverage , we consider the policy coverage limits and exclusions , the potential for denial of coverage by the insurance company , the financial condition of the insurers , and the possibility of and length of time for collection .", "due to a very restrictive market for product liability insurance , we are self-insured for product liability losses for all our currently marketed products .", "in addition to insurance coverage , we also consider any third-party indemnification to which we are entitled or under which we are obligated .", "with respect to our third-party indemnification rights , these considerations include the nature of the indemnification , the financial condition of the indemnifying party , and the possibility of and length of time for collection .", "the litigation accruals and environmental liabilities and the related estimated insurance recoverables have been reflected on a gross basis as liabilities and assets , respectively , on our consolidated balance sheets .", "impairment of indefinite-lived and long-lived assets background and uncertainties we review the carrying value of long-lived assets ( both intangible and tangible ) for potential impairment on a periodic basis and whenever events or changes in circumstances indicate the carrying value of an asset ( or asset group ) may not be recoverable .", "we identify impairment by comparing the projected undiscounted cash flows to be generated by the asset ( or asset group ) to its carrying value .", "if an impairment is identified , a loss is recorded equal to the excess of the asset 2019s net book value over its fair value , and the cost basis is adjusted .", "goodwill and indefinite-lived intangible assets are reviewed for impairment at least annually and when certain impairment indicators are present .", "when required , a comparison of fair value to the carrying amount of assets is performed to determine the amount of any impairment. ." ]

[ [ "(Dollars in millions)", "2018", "2017" ], [ "Sales return, rebate, and discount liabilities, beginning of year", "$4,172.0", "$3,601.8" ], [ "Reduction of net sales due to sales returns, discounts, and rebates⁽¹⁾", "12,529.6", "10,603.4" ], [ "Cash payments of discounts and rebates", "(12,023.4)", "(10,033.2)" ], [ "Sales return, rebate, and discount liabilities, end of year", "$4,678.2", "$4,172.0" ] ]

[ [ "( dollars in millions )", "2018", "2017" ], [ "sales return rebate and discount liabilities beginning of year", "$ 4172.0", "$ 3601.8" ], [ "reduction of net sales due to sales returns discounts and rebates ( 1 )", "12529.6", "10603.4" ], [ "cash payments of discounts and rebates", "-12023.4 ( 12023.4 )", "-10033.2 ( 10033.2 )" ], [ "sales return rebate and discount liabilities end of year", "$ 4678.2", "$ 4172.0" ] ]

[]

[ "december 18 , 2007 , we issued an additional 23182197 shares of common stock to citadel .", "the issuances were exempt from registration pursuant to section 4 ( 2 ) of the securities act of 1933 , and each purchaser has represented to us that it is an 201caccredited investor 201d as defined in regulation d promulgated under the securities act of 1933 , and that the common stock was being acquired for investment .", "we did not engage in a general solicitation or advertising with regard to the issuances of the common stock and have not offered securities to the public in connection with the issuances .", "see item 1 .", "business 2014citadel investment .", "performance graph 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 2019s ( 201cs&p 201d ) 500 and the s&p super cap diversified financials during the period from december 31 , 2002 through december 31 , 2007. ." ]

[ "2022 $ 100 invested on 12/31/02 in stock or index-including reinvestment of dividends .", "fiscal year ending december 31 .", "2022 copyright a9 2008 , standard & poor 2019s , a division of the mcgraw-hill companies , inc .", "all rights reserved .", "www.researchdatagroup.com/s&p.htm ." ]

[ [ "", "12/02", "12/03", "12/04", "12/05", "12/06", "12/07" ], [ "E*TRADE Financial Corporation", "100.00", "260.29", "307.61", "429.22", "461.32", "73.05" ], [ "S&P 500", "100.00", "128.68", "142.69", "149.70", "173.34", "182.87" ], [ "S&P Super Cap Diversified Financials", "100.00", "139.29", "156.28", "170.89", "211.13", "176.62" ] ]

[ [ "", "12/02", "12/03", "12/04", "12/05", "12/06", "12/07" ], [ "e*trade financial corporation", "100.00", "260.29", "307.61", "429.22", "461.32", "73.05" ], [ "s&p 500", "100.00", "128.68", "142.69", "149.70", "173.34", "182.87" ], [ "s&p super cap diversified financials", "100.00", "139.29", "156.28", "170.89", "211.13", "176.62" ] ]

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[ "18 .", "allowance for credit losses ." ]

[ "( 1 ) reclassified to conform to the current period 2019s presentation .", "( 2 ) 2009 primarily includes reductions to the loan loss reserve of approximately $ 543 million related to securitizations , approximately $ 402 million related to the sale or transfers to held-for-sale of u.s .", "real estate lending loans , and $ 562 million related to the transfer of the u.k .", "cards portfolio to held-for-sale .", "2008 primarily includes reductions to the loan loss reserve of approximately $ 800 million related to fx translation , $ 102 million related to securitizations , $ 244 million for the sale of the german retail banking operation , $ 156 million for the sale of citicapital , partially offset by additions of $ 106 million related to the cuscatl e1n and bank of overseas chinese acquisitions .", "2007 primarily includes reductions to the loan loss reserve of $ 475 million related to securitizations and transfers to loans held-for-sale , and reductions of $ 83 million related to the transfer of the u.k .", "citifinancial portfolio to held-for-sale , offset by additions of $ 610 million related to the acquisitions of egg , nikko cordial , grupo cuscatl e1n and grupo financiero uno .", "( 3 ) represents additional credit loss reserves for unfunded corporate lending commitments and letters of credit recorded in other liabilities on the consolidated balance sheet. ." ]

[ [ "In millions of dollars", "2009", "2008(1)", "2007(1)" ], [ "Allowance for loan losses at beginning of year", "$29,616", "$16,117", "$8,940" ], [ "Gross credit losses", "(32,784)", "(20,760)", "(11,864)" ], [ "Gross recoveries", "2,043", "1,749", "1,938" ], [ "Net credit (losses) recoveries (NCLs)", "$(30,741)", "$(19,011)", "$(9,926)" ], [ "NCLs", "$30,741", "$19,011", "$9,926" ], [ "Net reserve builds (releases)", "5,741", "11,297", "6,550" ], [ "Net specific reserve builds (releases)", "2,278", "3,366", "356" ], [ "Total provision for credit losses", "$38,760", "$33,674", "$16,832" ], [ "Other, net(2)", "(1,602)", "(1,164)", "271" ], [ "Allowance for loan losses at end of year", "$36,033", "$29,616", "$16,117" ], [ "Allowance for credit losses on unfunded lending commitments at beginning of year(3)", "$887", "$1,250", "$1,100" ], [ "Provision for unfunded lending commitments", "244", "(363)", "150" ], [ "Allowance for credit losses on unfunded lending commitments at end of year(3)", "$1,157", "$887", "$1,250" ], [ "Total allowance for loans, leases, and unfunded lending commitments", "$37,190", "$30,503", "$17,367" ] ]

[ [ "in millions of dollars", "2009", "2008 ( 1 )", "2007 ( 1 )" ], [ "allowance for loan losses at beginning of year", "$ 29616", "$ 16117", "$ 8940" ], [ "gross credit losses", "-32784 ( 32784 )", "-20760 ( 20760 )", "-11864 ( 11864 )" ], [ "gross recoveries", "2043", "1749", "1938" ], [ "net credit ( losses ) recoveries ( ncls )", "$ -30741 ( 30741 )", "$ -19011 ( 19011 )", "$ -9926 ( 9926 )" ], [ "ncls", "$ 30741", "$ 19011", "$ 9926" ], [ "net reserve builds ( releases )", "5741", "11297", "6550" ], [ "net specific reserve builds ( releases )", "2278", "3366", "356" ], [ "total provision for credit losses", "$ 38760", "$ 33674", "$ 16832" ], [ "other net ( 2 )", "-1602 ( 1602 )", "-1164 ( 1164 )", "271" ], [ "allowance for loan losses at end of year", "$ 36033", "$ 29616", "$ 16117" ], [ "allowance for credit losses on unfunded lending commitments at beginning of year ( 3 )", "$ 887", "$ 1250", "$ 1100" ], [ "provision for unfunded lending commitments", "244", "-363 ( 363 )", "150" ], [ "allowance for credit losses on unfunded lending commitments at end of year ( 3 )", "$ 1157", "$ 887", "$ 1250" ], [ "total allowance for loans leases and unfunded lending commitments", "$ 37190", "$ 30503", "$ 17367" ] ]

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[ "basel iii ( full implementation ) citigroup 2019s capital resources under basel iii ( full implementation ) citi currently estimates that its effective minimum common equity tier 1 capital , tier 1 capital and total capital ratio requirements under the u.s .", "basel iii rules , on a fully implemented basis and assuming a 3% ( 3 % ) gsib surcharge , may be 10% ( 10 % ) , 11.5% ( 11.5 % ) and 13.5% ( 13.5 % ) , respectively .", "further , under the u.s .", "basel iii rules , citi must also comply with a 4% ( 4 % ) minimum tier 1 leverage ratio requirement and an effective 5% ( 5 % ) minimum supplementary leverage ratio requirement .", "the following tables set forth the capital tiers , total risk-weighted assets , risk-based capital ratios , quarterly adjusted average total assets , total leverage exposure and leverage ratios , assuming full implementation under the u.s .", "basel iii rules , for citi as of december 31 , 2015 and december 31 , 2014 .", "citigroup capital components and ratios under basel iii ( full implementation ) december 31 , 2015 december 31 , 2014 ( 1 ) in millions of dollars , except ratios advanced approaches standardized approach advanced approaches standardized approach ." ]

[ "common equity tier 1 capital ratio ( 3 ) ( 4 ) 12.07% ( 12.07 % ) 12.63% ( 12.63 % ) 10.57% ( 10.57 % ) 11.12% ( 11.12 % ) tier 1 capital ratio ( 3 ) ( 4 ) 13.49 14.11 11.45 12.05 total capital ratio ( 3 ) ( 4 ) 15.30 17.08 12.80 14.52 in millions of dollars , except ratios december 31 , 2015 december 31 , 2014 ( 1 ) quarterly adjusted average total assets ( 5 ) $ 1724710 $ 1835637 total leverage exposure ( 6 ) 2317849 2492636 tier 1 leverage ratio ( 4 ) 9.51% ( 9.51 % ) 8.07% ( 8.07 % ) supplementary leverage ratio ( 4 ) 7.08 5.94 ( 1 ) restated to reflect the retrospective adoption of asu 2014-01 for lihtc investments , consistent with current period presentation .", "( 2 ) under the advanced approaches framework eligible credit reserves that exceed expected credit losses are eligible for inclusion in tier 2 capital to the extent the excess reserves do not exceed 0.6% ( 0.6 % ) of credit risk-weighted assets , which differs from the standardized approach in which the allowance for credit losses is eligible for inclusion in tier 2 capital up to 1.25% ( 1.25 % ) of credit risk-weighted assets , with any excess allowance for credit losses being deducted in arriving at credit risk-weighted assets .", "( 3 ) as of december 31 , 2015 and december 31 , 2014 , citi 2019s common equity tier 1 capital , tier 1 capital , and total capital ratios were the lower derived under the basel iii advanced approaches framework .", "( 4 ) citi 2019s basel iii capital ratios and related components , on a fully implemented basis , are non-gaap financial measures .", "citi believes these ratios and the related components provide useful information to investors and others by measuring citi 2019s progress against future regulatory capital standards .", "( 5 ) tier 1 leverage ratio denominator .", "( 6 ) supplementary leverage ratio denominator. ." ]

[ [ "", "December 31, 2015", "December 31, 2014⁽¹⁾" ], [ "In millions of dollars, except ratios", "Advanced Approaches", "Standardized Approach", "Advanced Approaches", "Standardized Approach" ], [ "Common Equity Tier 1 Capital", "$146,865", "$146,865", "$136,597", "$136,597" ], [ "Tier 1 Capital", "164,036", "164,036", "148,066", "148,066" ], [ "Total Capital (Tier 1 Capital + Tier 2 Capital)⁽²⁾", "186,097", "198,655", "165,454", "178,413" ], [ "Total Risk-Weighted Assets", "1,216,277", "1,162,884", "1,292,605", "1,228,488" ], [ "Common Equity Tier 1 Capital ratio⁽³⁾⁽⁴⁾", "12.07%", "12.63%", "10.57%", "11.12%" ], [ "Tier 1 Capital ratio⁽³⁾⁽⁴⁾", "13.49", "14.11", "11.45", "12.05" ], [ "Total Capital ratio⁽³⁾⁽⁴⁾", "15.30", "17.08", "12.80", "14.52" ] ]

[ [ "in millions of dollars except ratios", "december 31 2015 advanced approaches", "december 31 2015 standardized approach", "december 31 2015 advanced approaches", "standardized approach" ], [ "common equity tier 1 capital", "$ 146865", "$ 146865", "$ 136597", "$ 136597" ], [ "tier 1 capital", "164036", "164036", "148066", "148066" ], [ "total capital ( tier 1 capital + tier 2 capital ) ( 2 )", "186097", "198655", "165454", "178413" ], [ "total risk-weighted assets", "1216277", "1162884", "1292605", "1228488" ], [ "common equity tier 1 capital ratio ( 3 ) ( 4 )", "12.07% ( 12.07 % )", "12.63% ( 12.63 % )", "10.57% ( 10.57 % )", "11.12% ( 11.12 % )" ], [ "tier 1 capital ratio ( 3 ) ( 4 )", "13.49", "14.11", "11.45", "12.05" ], [ "total capital ratio ( 3 ) ( 4 )", "15.30", "17.08", "12.80", "14.52" ] ]

[]

[ "92 | 2017 form 10-k finite-lived intangible assets are amortized over their estimated useful lives and tested for impairment if events or changes in circumstances indicate that the asset may be impaired .", "in 2016 , gross customer relationship intangibles of $ 96 million and related accumulated amortization of $ 27 million as well as gross intellectual property intangibles of $ 111 million and related accumulated amortization of $ 48 million from the resource industries segment were impaired .", "the fair value of these intangibles was determined to be insignificant based on an income approach using expected cash flows .", "the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs .", "the total impairment of $ 132 million was a result of restructuring activities and is included in other operating ( income ) expense in statement 1 .", "see note 25 for information on restructuring costs .", "amortization expense related to intangible assets was $ 323 million , $ 326 million and $ 337 million for 2017 , 2016 and 2015 , respectively .", "as of december 31 , 2017 , amortization expense related to intangible assets is expected to be : ( millions of dollars ) ." ]

[ "b .", "goodwill there were no goodwill impairments during 2017 or 2015 .", "our annual impairment tests completed in the fourth quarter of 2016 indicated the fair value of each reporting unit was substantially above its respective carrying value , including goodwill , with the exception of our surface mining & technology reporting unit .", "the surface mining & technology reporting unit , which primarily serves the mining industry , is a part of our resource industries segment .", "the goodwill assigned to this reporting unit is largely from our acquisition of bucyrus international , inc .", "in 2011 .", "its product portfolio includes large mining trucks , electric rope shovels , draglines , hydraulic shovels and related parts .", "in addition to equipment , surface mining & technology also develops and sells technology products and services to provide customer fleet management , equipment management analytics and autonomous machine capabilities .", "the annual impairment test completed in the fourth quarter of 2016 indicated that the fair value of surface mining & technology was below its carrying value requiring the second step of the goodwill impairment test process .", "the fair value of surface mining & technology was determined primarily using an income approach based on a discounted ten year cash flow .", "we assigned the fair value to surface mining & technology 2019s assets and liabilities using various valuation techniques that required assumptions about royalty rates , dealer attrition , technological obsolescence and discount rates .", "the resulting implied fair value of goodwill was below the carrying value .", "accordingly , we recognized a goodwill impairment charge of $ 595 million , which resulted in goodwill of $ 629 million remaining for surface mining & technology as of october 1 , 2016 .", "the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs .", "there was a $ 17 million tax benefit associated with this impairment charge. ." ]

[ [ "2018", "2019", "2020", "2021", "2022", "Thereafter" ], [ "$322", "$316", "$305", "$287", "$268", "$613" ] ]

[ [ "2018", "2019", "2020", "2021", "2022", "thereafter" ], [ "$ 322", "$ 316", "$ 305", "$ 287", "$ 268", "$ 613" ] ]

[ { "arg1": "323", "arg2": "326", "op": "minus2-1", "res": "-3" }, { "arg1": "#0", "arg2": "326", "op": "divide2-2", "res": "-0.9%" } ]

[ "note 10 .", "commitments and contingencies credit-related commitments and contingencies : credit-related financial instruments , which are off-balance sheet , include indemnified securities financing , unfunded commitments to extend credit or purchase assets , and standby letters of credit .", "the potential loss associated with indemnified securities financing , unfunded commitments and standby letters of credit is equal to the total gross contractual amount , which does not consider the value of any collateral .", "the following table summarizes the total gross contractual amounts of credit-related off-balance sheet financial instruments at december 31 .", "amounts reported do not reflect participations to independent third parties. ." ]

[ "( 1 ) amount for 2009 excludes agreements related to the commercial paper conduits , which were consolidated in may 2009 ; see note 11 .", "approximately 81% ( 81 % ) of the unfunded commitments to extend credit expire within one year from the date of issue .", "since many of these commitments are expected to expire or renew without being drawn upon , the total commitment amount does not necessarily represent future cash requirements .", "securities finance : on behalf of our customers , we lend their securities to creditworthy brokers and other institutions .", "we generally indemnify our customers for the fair market value of those securities against a failure of the borrower to return such securities .", "collateral funds received in connection with our securities finance services are held by us as agent and are not recorded in our consolidated statement of condition .", "we require the borrowers to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the fair market value of the securities borrowed .", "the borrowed securities are revalued daily to determine if additional collateral is necessary .", "in this regard , we held , as agent , cash and u.s .", "government securities with an aggregate fair value of $ 375.92 billion and $ 333.07 billion as collateral for indemnified securities on loan at december 31 , 2009 and 2008 , respectively , presented in the table above .", "the collateral held by us is invested on behalf of our customers in accordance with their guidelines .", "in certain cases , the collateral is invested in third-party repurchase agreements , for which we indemnify the customer against loss of the principal invested .", "we require the repurchase agreement counterparty to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the amount of the repurchase agreement .", "the indemnified repurchase agreements and the related collateral are not recorded in our consolidated statement of condition .", "of the collateral of $ 375.92 billion at december 31 , 2009 and $ 333.07 billion at december 31 , 2008 referenced above , $ 77.73 billion at december 31 , 2009 and $ 68.37 billion at december 31 , 2008 was invested in indemnified repurchase agreements .", "we held , as agent , cash and securities with an aggregate fair value of $ 82.62 billion and $ 71.87 billion as collateral for indemnified investments in repurchase agreements at december 31 , 2009 and december 31 , 2008 , respectively .", "legal proceedings : in the ordinary course of business , we and our subsidiaries are involved in disputes , litigation and regulatory inquiries and investigations , both pending and threatened .", "these matters , if resolved adversely against us , may result in monetary damages , fines and penalties or require changes in our business practices .", "the resolution of these proceedings is inherently difficult to predict .", "however , we do not believe that the amount of any judgment , settlement or other action arising from any pending proceeding will have a material adverse effect on our consolidated financial condition , although the outcome of certain of the matters described below may have a material adverse effect on our consolidated results of operations for the period in which such matter is resolved ." ]

[ [ "(In millions)", "2009", "2008" ], [ "Indemnified securities financing", "$365,251", "$324,590" ], [ "Asset purchase agreements⁽¹⁾", "8,211", "31,780" ], [ "Unfunded commitments to extend credit", "18,078", "20,981" ], [ "Standby letters of credit", "4,784", "6,061" ] ]

[ [ "( in millions )", "2009", "2008" ], [ "indemnified securities financing", "$ 365251", "$ 324590" ], [ "asset purchase agreements ( 1 )", "8211", "31780" ], [ "unfunded commitments to extend credit", "18078", "20981" ], [ "standby letters of credit", "4784", "6061" ] ]

[ { "arg1": "8211", "arg2": "31780", "op": "minus2-1", "res": "-23569" }, { "arg1": "#0", "arg2": "31780", "op": "divide2-2", "res": "-74%" } ]

[ "the contractual maturities of held-to-maturity securities as of january 30 , 2009 were in excess of three years and were $ 31.4 million at cost and $ 28.9 million at fair value , respectively .", "for the successor year ended january 30 , 2009 and period ended february 1 , 2008 , and the predecessor period ended july 6 , 2007 and year ended february 2 , 2007 , gross realized gains and losses on the sales of available-for-sale securities were not material .", "the cost of securities sold is based upon the specific identification method .", "merchandise inventories inventories are stated at the lower of cost or market with cost determined using the retail last-in , first-out ( 201clifo 201d ) method .", "under the company 2019s retail inventory method ( 201crim 201d ) , the calculation of gross profit and the resulting valuation of inventories at cost are computed by applying a calculated cost-to-retail inventory ratio to the retail value of sales at a department level .", "costs directly associated with warehousing and distribution are capitalized into inventory .", "the excess of current cost over lifo cost was approximately $ 50.0 million at january 30 , 2009 and $ 6.1 million at february 1 , 2008 .", "current cost is determined using the retail first-in , first-out method .", "the company 2019s lifo reserves were adjusted to zero at july 6 , 2007 as a result of the merger .", "the successor recorded lifo provisions of $ 43.9 million and $ 6.1 million during 2008 and 2007 , respectively .", "the predecessor recorded a lifo credit of $ 1.5 million in 2006 .", "in 2008 , the increased commodity cost pressures mainly related to food and pet products which have been driven by fruit and vegetable prices and rising freight costs .", "increases in petroleum , resin , metals , pulp and other raw material commodity driven costs also resulted in multiple product cost increases .", "the company intends to address these commodity cost increases through negotiations with its vendors and by increasing retail prices as necessary .", "on a quarterly basis , the company estimates the annual impact of commodity cost fluctuations based upon the best available information at that point in time .", "store pre-opening costs pre-opening costs related to new store openings and the construction periods are expensed as incurred .", "property and equipment property and equipment are recorded at cost .", "the company provides for depreciation and amortization on a straight-line basis over the following estimated useful lives: ." ]

[ "improvements of leased properties are amortized over the shorter of the life of the applicable lease term or the estimated useful life of the asset. ." ]

[ [ "Land improvements", "20" ], [ "Buildings", "39-40" ], [ "Furniture, fixtures and equipment", "3-10" ] ]

[ [ "land improvements", "20" ], [ "buildings", "39-40" ], [ "furniture fixtures and equipment", "3-10" ] ]

[ { "arg1": "28.9", "arg2": "31.4", "op": "minus2-1", "res": "-2.5" }, { "arg1": "#0", "arg2": "31.4", "op": "divide2-2", "res": "-8.0%" } ]

[ "american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 7 .", "derivative financial instruments under the terms of the credit facility , the company is required to enter into interest rate protection agreements on at least 50% ( 50 % ) of its variable rate debt .", "under these agreements , the company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract .", "such exposure is limited to the current value of the contract at the time the counterparty fails to perform .", "the company believes its contracts as of december 31 , 2004 are with credit worthy institutions .", "as of december 31 , 2004 , the company had two interest rate caps outstanding with an aggregate notional amount of $ 350.0 million ( each at an interest rate of 6.0% ( 6.0 % ) ) that expire in 2006 .", "as of december 31 , 2003 , the company had three interest rate caps outstanding with an aggregate notional amount of $ 500.0 million ( each at a rate of 5.0% ( 5.0 % ) ) that expired in 2004 .", "as of december 31 , 2004 and 2003 , there was no fair value associated with any of these interest rate caps .", "during the year ended december 31 , 2003 , the company recorded an unrealized loss of approximately $ 0.3 million ( net of a tax benefit of approximately $ 0.2 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 5.9 million ( net of a tax benefit of approximately $ 3.2 million ) into results of operations .", "during the year ended december 31 , 2002 , the company recorded an unrealized loss of approximately $ 9.1 million ( net of a tax benefit of approximately $ 4.9 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 19.5 million ( net of a tax benefit of approximately $ 10.5 million ) into results of operations .", "hedge ineffectiveness resulted in a gain of approximately $ 1.0 million for the year ended december 31 , 2002 , which is recorded in other expense in the accompanying consolidated statement of operations .", "the company records the changes in fair value of its derivative instruments that are not accounted for as hedges in other expense .", "the company did not reclassify any derivative losses into its statement of operations for the year ended december 31 , 2004 and does not anticipate reclassifying any derivative losses into its statement of operations within the next twelve months , as there are no amounts included in other comprehensive loss as of december 31 , 2004 .", "8 .", "commitments and contingencies lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms .", "many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option .", "escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are straight-lined over the term of the lease .", "( see note 1. ) future minimum rental payments under non-cancelable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease .", "such payments in effect at december 31 , 2004 are as follows ( in thousands ) : year ending december 31 ." ]

[ "aggregate rent expense ( including the effect of straight-line rent expense ) under operating leases for the years ended december 31 , 2004 , 2003 and 2002 approximated $ 118741000 , $ 113956000 , and $ 109644000 , respectively. ." ]

[ [ "2005", "$106,116" ], [ "2006", "106,319" ], [ "2007", "106,095" ], [ "2008", "106,191" ], [ "2009", "106,214" ], [ "Thereafter", "1,570,111" ], [ "Total", "$2,101,046" ] ]

[ [ "2005", "$ 106116" ], [ "2006", "106319" ], [ "2007", "106095" ], [ "2008", "106191" ], [ "2009", "106214" ], [ "thereafter", "1570111" ], [ "total", "$ 2101046" ] ]

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[ "as noted above , as a result of these sales , these regulated subsidiaries are presented as discontinued operations for all periods presented .", "therefore , the amounts , statistics and tables presented in this section refer only to on-going operations , unless otherwise noted .", "the following table sets forth our regulated businesses operating revenue for 2012 and number of customers from continuing operations as well as an estimate of population served as of december 31 , 2012 : operating revenues ( in millions ) % ( % ) of total number of customers % ( % ) of total estimated population served ( in millions ) % ( % ) of total ." ]

[ "( a ) includes illinois-american water company , which we refer to as ilawc and american lake water company , also a regulated subsidiary in illinois .", "( b ) west virginia-american water company , which we refer to as wvawc , and its subsidiary bluefield valley water works company .", "( c ) includes data from our operating subsidiaries in the following states : georgia , hawaii , iowa , kentucky , maryland , michigan , new york , tennessee , and virginia .", "approximately 87.7% ( 87.7 % ) of operating revenue from our regulated businesses in 2012 was generated from approximately 2.7 million customers in our seven largest states , as measured by operating revenues .", "in fiscal year 2012 , no single customer accounted for more than 10% ( 10 % ) of our annual operating revenue .", "overview of networks , facilities and water supply our regulated businesses operate in approximately 1500 communities in 16 states in the united states .", "our primary operating assets include approximately 80 surface water treatment plants , 500 groundwater treatment plants , 1000 groundwater wells , 100 wastewater treatment facilities , 1200 treated water storage facilities , 1300 pumping stations , 90 dams and 46000 miles of mains and collection pipes .", "our regulated utilities own substantially all of the assets used by our regulated businesses .", "we generally own the land and physical assets used to store , extract and treat source water .", "typically , we do not own the water itself , which is held in public trust and is allocated to us through contracts and allocation rights granted by federal and state agencies or through the ownership of water rights pursuant to local law .", "maintaining the reliability of our networks is a key activity of our regulated businesses .", "we have ongoing infrastructure renewal programs in all states in which our regulated businesses operate .", "these programs consist of both rehabilitation of existing mains and replacement of mains that have reached the end of their useful service lives .", "our ability to meet the existing and future water demands of our customers depends on an adequate supply of water .", "drought , governmental restrictions , overuse of sources of water , the protection of threatened species or habitats or other factors may limit the availability of ground and surface water .", "we employ a variety of measures to ensure that we have adequate sources of water supply , both in the short-term and over the long-term .", "the geographic diversity of our service areas tends to mitigate some of the economic effect of weather extremes we ." ]

[ [ "", "Operating Revenues (in millions)", "% of Total", "Number of Customers", "% of Total", "Estimated Population Served (in millions)", "% of Total" ], [ "New Jersey", "$639.0", "24.9%", "639,838", "20.3%", "2.5", "21.9%" ], [ "Pennsylvania", "557.7", "21.7%", "658,153", "20.8%", "2.2", "19.3%" ], [ "Missouri", "279.5", "10.9%", "455,730", "14.4%", "1.5", "13.2%" ], [ "Illinois(a)", "256.4", "10.0%", "308,014", "9.8%", "1.2", "10.5%" ], [ "Indiana", "198.7", "7.8%", "289,068", "9.2%", "1.2", "10.5%" ], [ "California", "193.3", "7.5%", "174,188", "5.5%", "0.6", "5.3%" ], [ "West Virginia(b)", "125.0", "4.9%", "172,159", "5.4%", "0.6", "5.3%" ], [ "Subtotal (Top Seven States)", "2,249.6", "87.7%", "2,697,150", "85.4%", "9.8", "86.0%" ], [ "Other(c)", "314.8", "12.3%", "461,076", "14.6%", "1.6", "14.0%" ], [ "Total Regulated Businesses", "$2,564.4", "100.0%", "3,158,226", "100.0%", "11.4", "100.0%" ] ]

[ [ "new jersey", "operating revenues ( in millions ) $ 639.0", "% ( % ) of total 24.9% ( 24.9 % )", "number of customers 639838", "% ( % ) of total 20.3% ( 20.3 % )", "estimated population served ( in millions ) 2.5", "% ( % ) of total 21.9% ( 21.9 % )" ], [ "pennsylvania", "557.7", "21.7% ( 21.7 % )", "658153", "20.8% ( 20.8 % )", "2.2", "19.3% ( 19.3 % )" ], [ "missouri", "279.5", "10.9% ( 10.9 % )", "455730", "14.4% ( 14.4 % )", "1.5", "13.2% ( 13.2 % )" ], [ "illinois ( a )", "256.4", "10.0% ( 10.0 % )", "308014", "9.8% ( 9.8 % )", "1.2", "10.5% ( 10.5 % )" ], [ "indiana", "198.7", "7.8% ( 7.8 % )", "289068", "9.2% ( 9.2 % )", "1.2", "10.5% ( 10.5 % )" ], [ "california", "193.3", "7.5% ( 7.5 % )", "174188", "5.5% ( 5.5 % )", "0.6", "5.3% ( 5.3 % )" ], [ "west virginia ( b )", "125.0", "4.9% ( 4.9 % )", "172159", "5.4% ( 5.4 % )", "0.6", "5.3% ( 5.3 % )" ], [ "subtotal ( top seven states )", "2249.6", "87.7% ( 87.7 % )", "2697150", "85.4% ( 85.4 % )", "9.8", "86.0% ( 86.0 % )" ], [ "other ( c )", "314.8", "12.3% ( 12.3 % )", "461076", "14.6% ( 14.6 % )", "1.6", "14.0% ( 14.0 % )" ], [ "total regulated businesses", "$ 2564.4", "100.0% ( 100.0 % )", "3158226", "100.0% ( 100.0 % )", "11.4", "100.0% ( 100.0 % )" ] ]

[ { "arg1": "11.4", "arg2": "const_1000000", "op": "multiply2-1", "res": "11400000" }, { "arg1": "3158226", "arg2": "#0", "op": "multiply2-2", "res": "28%" } ]

[ "the following is a schedule of future minimum rental payments required under long-term operating leases at october 29 , 2011 : fiscal years operating leases ." ]

[ "12 .", "commitments and contingencies from time to time in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage and personnel and employment disputes .", "as to such claims and litigation , the company can give no assurance that it will prevail .", "the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows .", "13 .", "retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees .", "the company maintains a defined contribution plan for the benefit of its eligible u.s .", "employees .", "this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation .", "in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation .", "the total expense related to the defined contribution plan for u.s .", "employees was $ 21.9 million in fiscal 2011 , $ 20.5 million in fiscal 2010 and $ 21.5 million in fiscal 2009 .", "the company also has various defined benefit pension and other retirement plans for certain non-u.s .", "employees that are consistent with local statutory requirements and practices .", "the total expense related to the various defined benefit pension and other retirement plans for certain non-u.s .", "employees was $ 21.4 million in fiscal 2011 , $ 11.7 million in fiscal 2010 and $ 10.9 million in fiscal 2009 .", "non-u.s .", "plan disclosures the company 2019s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country .", "the plans 2019 assets consist primarily of u.s .", "and non-u.s .", "equity securities , bonds , property and cash .", "the benefit obligations and related assets under these plans have been measured at october 29 , 2011 and october 30 , 2010 .", "analog devices , inc .", "notes to consolidated financial statements 2014 ( continued ) ." ]

[ [ "Fiscal Years", "Operating Leases" ], [ "2012", "$17,590" ], [ "2013", "12,724" ], [ "2014", "6,951" ], [ "2015", "5,649" ], [ "2016", "3,669" ], [ "Later Years", "19,472" ], [ "Total", "$66,055" ] ]

[ [ "fiscal years", "operating leases" ], [ "2012", "$ 17590" ], [ "2013", "12724" ], [ "2014", "6951" ], [ "2015", "5649" ], [ "2016", "3669" ], [ "later years", "19472" ], [ "total", "$ 66055" ] ]

[ { "arg1": "21.4", "arg2": "11.7", "op": "minus2-1", "res": "9.7" }, { "arg1": "#0", "arg2": "11.7", "op": "divide2-2", "res": "82.9%" } ]

[ "entergy new orleans , inc .", "and subsidiaries management 2019s financial discussion and analysis entergy new orleans 2019s receivables from the money pool were as follows as of december 31 for each of the following years. ." ]

[ "see note 4 to the financial statements for a description of the money pool .", "entergy new orleans has a credit facility in the amount of $ 25 million scheduled to expire in november 2018 .", "the credit facility allows entergy new orleans to issue letters of credit against $ 10 million of the borrowing capacity of the facility .", "as of december 31 , 2016 , there were no cash borrowings and a $ 0.8 million letter of credit was outstanding under the facility .", "in addition , entergy new orleans is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations under miso .", "as of december 31 , 2016 , a $ 6.2 million letter of credit was outstanding under entergy new orleans 2019s letter of credit facility .", "see note 4 to the financial statements for additional discussion of the credit facilities .", "entergy new orleans obtained authorization from the ferc through october 2017 for short-term borrowings not to exceed an aggregate amount of $ 100 million at any time outstanding .", "see note 4 to the financial statements for further discussion of entergy new orleans 2019s short-term borrowing limits .", "the long-term securities issuances of entergy new orleans are limited to amounts authorized by the city council , and the current authorization extends through june 2018 .", "state and local rate regulation the rates that entergy new orleans charges for electricity and natural gas significantly influence its financial position , results of operations , and liquidity .", "entergy new orleans is regulated and the rates charged to its customers are determined in regulatory proceedings .", "a governmental agency , the city council , is primarily responsible for approval of the rates charged to customers .", "retail rates see 201calgiers asset transfer 201d below for discussion of the transfer from entergy louisiana to entergy new orleans of certain assets that serve algiers customers .", "in march 2013 , entergy louisiana filed a rate case for the algiers area , which is in new orleans and is regulated by the city council .", "entergy louisiana requested a rate increase of $ 13 million over three years , including a 10.4% ( 10.4 % ) return on common equity and a formula rate plan mechanism identical to its lpsc request .", "in january 2014 the city council advisors filed direct testimony recommending a rate increase of $ 5.56 million over three years , including an 8.13% ( 8.13 % ) return on common equity .", "in june 2014 the city council unanimously approved a settlement that includes the following : 2022 a $ 9.3 million base rate revenue increase to be phased in on a levelized basis over four years ; 2022 recovery of an additional $ 853 thousand annually through a miso recovery rider ; and 2022 the adoption of a four-year formula rate plan requiring the filing of annual evaluation reports in may of each year , commencing may 2015 , with resulting rates being implemented in october of each year .", "the formula rate plan includes a midpoint target authorized return on common equity of 9.95% ( 9.95 % ) with a +/- 40 basis point bandwidth .", "the rate increase was effective with bills rendered on and after the first billing cycle of july 2014 .", "additional compliance filings were made with the city council in october 2014 for approval of the form of certain rate riders , including among others , a ninemile 6 non-fuel cost recovery interim rider , allowing for contemporaneous recovery of capacity ." ]

[ [ "2016", "2015", "2014", "2013" ], [ "(In Thousands)" ], [ "$14,215", "$15,794", "$442", "$4,737" ] ]

[ [ "2016", "2015", "2014", "2013" ], [ "( in thousands )", "( in thousands )", "( in thousands )", "( in thousands )" ], [ "$ 14215", "$ 15794", "$ 442", "$ 4737" ] ]

[]

[ "system energy may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .", "all debt and common stock issuances by system energy require prior regulatory approval . a0 a0debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements . a0 a0system energy has sufficient capacity under these tests to meet its foreseeable capital needs .", "system energy 2019s receivables from the money pool were as follows as of december 31 for each of the following years. ." ]

[ "see note 4 to the financial statements for a description of the money pool .", "the system energy nuclear fuel company variable interest entity has a credit facility in the amount of $ 120 million scheduled to expire in may 2019 .", "as of december 31 , 2017 , $ 17.8 million in letters of credit to support a like amount of commercial paper issued and $ 50 million in loans were outstanding under the system energy nuclear fuel company variable interest entity credit facility .", "see note 4 to the financial statements for additional discussion of the variable interest entity credit facility .", "system energy obtained authorizations from the ferc through october 2019 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 200 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entity .", "see note 4 to the financial statements for further discussion of system energy 2019s short-term borrowing limits .", "system energy resources , inc .", "management 2019s financial discussion and analysis federal regulation see the 201crate , cost-recovery , and other regulation 2013 federal regulation 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis and note 2 to the financial statements for a discussion of federal regulation .", "complaint against system energy in january 2017 the apsc and mpsc filed a complaint with the ferc against system energy .", "the complaint seeks a reduction in the return on equity component of the unit power sales agreement pursuant to which system energy sells its grand gulf capacity and energy to entergy arkansas , entergy louisiana , entergy mississippi , and entergy new orleans .", "entergy arkansas also sells some of its grand gulf capacity and energy to entergy louisiana , entergy mississippi , and entergy new orleans under separate agreements .", "the current return on equity under the unit power sales agreement is 10.94% ( 10.94 % ) .", "the complaint alleges that the return on equity is unjust and unreasonable because current capital market and other considerations indicate that it is excessive .", "the complaint requests the ferc to institute proceedings to investigate the return on equity and establish a lower return on equity , and also requests that the ferc establish january 23 , 2017 as a refund effective date .", "the complaint includes return on equity analysis that purports to establish that the range of reasonable return on equity for system energy is between 8.37% ( 8.37 % ) and 8.67% ( 8.67 % ) .", "system energy answered the complaint in february 2017 and disputes that a return on equity of 8.37% ( 8.37 % ) to 8.67% ( 8.67 % ) is just and reasonable .", "the lpsc and the city council intervened in the proceeding expressing support for the complaint .", "system energy is recording a provision against revenue for the potential outcome of this proceeding .", "in september 2017 the ferc established a refund effective date of january 23 , 2017 , consolidated the return on equity complaint with the proceeding described in unit power sales agreement below , and directed the parties to engage in settlement ." ]

[ [ "2017", "2016", "2015", "2014" ], [ "(In Thousands)" ], [ "$111,667", "$33,809", "$39,926", "$2,373" ] ]

[ [ "2017", "2016", "2015", "2014" ], [ "( in thousands )", "( in thousands )", "( in thousands )", "( in thousands )" ], [ "$ 111667", "$ 33809", "$ 39926", "$ 2373" ] ]

[ { "arg1": "17.8", "arg2": "50", "op": "add1-1", "res": "68" }, { "arg1": "#0", "arg2": "120", "op": "divide1-2", "res": "56.7%" } ]

[ "citigroup 2019s repurchases are primarily from government sponsored entities .", "the specific representations and warranties made by the company depend on the nature of the transaction and the requirements of the buyer .", "market conditions and credit-ratings agency requirements may also affect representations and warranties and the other provisions the company may agree to in loan sales .", "in the event of a breach of the representations and warranties , the company may be required to either repurchase the mortgage loans ( generally at unpaid principal balance plus accrued interest ) with the identified defects or indemnify ( 201cmake-whole 201d ) the investor or insurer .", "the company has recorded a repurchase reserve that is included in other liabilities in the consolidated balance sheet .", "in the case of a repurchase , the company will bear any subsequent credit loss on the mortgage loans .", "the company 2019s representations and warranties are generally not subject to stated limits in amount or time of coverage .", "however , contractual liability arises only when the representations and warranties are breached and generally only when a loss results from the breach .", "in the case of a repurchase , the loan is typically considered a credit- impaired loan and accounted for under sop 03-3 , 201caccounting for certain loans and debt securities , acquired in a transfer 201d ( now incorporated into asc 310-30 , receivables 2014loans and debt securities acquired with deteriorated credit quality ) .", "these repurchases have not had a material impact on nonperforming loan statistics , because credit-impaired purchased sop 03-3 loans are not included in nonaccrual loans .", "the company estimates its exposure to losses from its obligation to repurchase previously sold loans based on the probability of repurchase or make-whole and an estimated loss given repurchase or make-whole .", "this estimate is calculated separately by sales vintage ( i.e. , the year the loans were sold ) based on a combination of historical trends and forecasted repurchases and losses considering the : ( 1 ) trends in requests by investors for loan documentation packages to be reviewed ; ( 2 ) trends in recent repurchases and make-wholes ; ( 3 ) historical percentage of claims made as a percentage of loan documentation package requests ; ( 4 ) success rate in appealing claims ; ( 5 ) inventory of unresolved claims ; and ( 6 ) estimated loss given repurchase or make-whole , including the loss of principal , accrued interest , and foreclosure costs .", "the company does not change its estimation methodology by counterparty , but the historical experience and trends are considered when evaluating the overall reserve .", "the request for loan documentation packages is an early indicator of a potential claim .", "during 2009 , loan documentation package requests and the level of outstanding claims increased .", "in addition , our loss severity estimates increased during 2009 due to the impact of macroeconomic factors and recent experience .", "these factors contributed to a $ 493 million change in estimate for this reserve in 2009 .", "as indicated above , the repurchase reserve is calculated by sales vintage .", "the majority of the repurchases in 2009 were from the 2006 and 2007 sales vintages , which also represent the vintages with the largest loss- given-repurchase .", "an insignificant percentage of 2009 repurchases were from vintages prior to 2006 , and this is expected to decrease , because those vintages are later in the credit cycle .", "although early in the credit cycle , the company has experienced improved repurchase and loss-given-repurchase statistics from the 2008 and 2009 vintages .", "in the case of a repurchase of a credit-impaired sop 03-3 loan ( now incorporated into asc 310-30 ) , the difference between the loan 2019s fair value and unpaid principal balance at the time of the repurchase is recorded as a utilization of the repurchase reserve .", "payments to make the investor whole are also treated as utilizations and charged directly against the reserve .", "the provision for estimated probable losses arising from loan sales is recorded as an adjustment to the gain on sale , which is included in other revenue in the consolidated statement of income .", "a liability for representations and warranties is estimated when the company sells loans and is updated quarterly .", "any subsequent adjustment to the provision is recorded in other revenue in the consolidated statement of income .", "the activity in the repurchase reserve for the years ended december 31 , 2009 and 2008 is as follows: ." ]

[ "goodwill goodwill represents an acquired company 2019s acquisition cost over the fair value of net tangible and intangible assets acquired .", "goodwill is subject to annual impairment tests , whereby goodwill is allocated to the company 2019s reporting units and an impairment is deemed to exist if the carrying value of a reporting unit exceeds its estimated fair value .", "furthermore , on any business dispositions , goodwill is allocated to the business disposed of based on the ratio of the fair value of the business disposed of to the fair value of the reporting unit .", "intangible assets intangible assets 2014including core deposit intangibles , present value of future profits , purchased credit card relationships , other customer relationships , and other intangible assets , but excluding msrs 2014are amortized over their estimated useful lives .", "intangible assets deemed to have indefinite useful lives , primarily certain asset management contracts and trade names , are not amortized and are subject to annual impairment tests .", "an impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value .", "for other intangible assets subject to amortization , an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the intangible asset .", "other assets and other liabilities other assets include , among other items , loans held-for-sale , deferred tax assets , equity-method investments , interest and fees receivable , premises and equipment , end-user derivatives in a net receivable position , repossessed assets , and other receivables. ." ]

[ [ "In millions of dollars", "2009", "2008" ], [ "Balance, beginning of the year", "$75", "$2" ], [ "Additions for new sales", "33", "23" ], [ "Change in estimate", "493", "59" ], [ "Utilizations", "(119)", "(9)" ], [ "Balance, end of the year", "$482", "$75" ] ]

[ [ "in millions of dollars", "2009", "2008" ], [ "balance beginning of the year", "$ 75", "$ 2" ], [ "additions for new sales", "33", "23" ], [ "change in estimate", "493", "59" ], [ "utilizations", "-119 ( 119 )", "-9 ( 9 )" ], [ "balance end of the year", "$ 482", "$ 75" ] ]

[ { "arg1": "482", "arg2": "75", "op": "minus2-1", "res": "407" }, { "arg1": "#0", "arg2": "75", "op": "divide2-2", "res": "543%" } ]

[ "( 3 ) refer to note 2 201csummary of significant accounting principles and practices 201d for further information .", "13 .", "employee benefitsp y defined contribution savings plans aon maintains defined contribution savings plans for the benefit of its employees .", "the expense recognized for these plans is included in compensation and benefits in the consolidated statements of income .", "the expense for the significant plans in the u.s. , u.k. , netherlands and canada is as follows ( in millions ) : ." ]

[ "pension and other postretirement benefits the company sponsors defined benefit pension and postretirement health and welfare plans that provide retirement , medical , and life insurance benefits .", "the postretirement health care plans are contributory , with retiree contributions adjusted annually , and the aa life insurance and pension plans are generally noncontributory .", "the significant u.s. , u.k. , netherlands and canadian pension plans are closed to new entrants. ." ]

[ [ "Years ended December 31", "2018", "2017", "2016" ], [ "U.S.", "$98", "$105", "$121" ], [ "U.K.", "45", "43", "43" ], [ "Netherlands and Canada", "25", "25", "27" ], [ "Total", "$168", "$173", "$191" ] ]

[ [ "years ended december 31", "2018", "2017", "2016" ], [ "u.s .", "$ 98", "$ 105", "$ 121" ], [ "u.k .", "45", "43", "43" ], [ "netherlands and canada", "25", "25", "27" ], [ "total", "$ 168", "$ 173", "$ 191" ] ]

[]

[ "note 12 2013 stock-based compensation during 2013 , 2012 , and 2011 , we recorded non-cash stock-based compensation expense totaling $ 189 million , $ 167 million , and $ 157 million , which is included as a component of other unallocated costs on our statements of earnings .", "the net impact to earnings for the respective years was $ 122 million , $ 108 million , and $ 101 million .", "as of december 31 , 2013 , we had $ 132 million of unrecognized compensation cost related to nonvested awards , which is expected to be recognized over a weighted average period of 1.5 years .", "we received cash from the exercise of stock options totaling $ 827 million , $ 440 million , and $ 116 million during 2013 , 2012 , and 2011 .", "in addition , our income tax liabilities for 2013 , 2012 , and 2011 were reduced by $ 158 million , $ 96 million , and $ 56 million due to recognized tax benefits on stock-based compensation arrangements .", "stock-based compensation plans under plans approved by our stockholders , we are authorized to grant key employees stock-based incentive awards , including options to purchase common stock , stock appreciation rights , restricted stock units ( rsus ) , performance stock units ( psus ) , or other stock units .", "the exercise price of options to purchase common stock may not be less than the fair market value of our stock on the date of grant .", "no award of stock options may become fully vested prior to the third anniversary of the grant , and no portion of a stock option grant may become vested in less than one year .", "the minimum vesting period for restricted stock or stock units payable in stock is three years .", "award agreements may provide for shorter or pro-rated vesting periods or vesting following termination of employment in the case of death , disability , divestiture , retirement , change of control , or layoff .", "the maximum term of a stock option or any other award is 10 years .", "at december 31 , 2013 , inclusive of the shares reserved for outstanding stock options , rsus and psus , we had 20.4 million shares reserved for issuance under the plans .", "at december 31 , 2013 , 4.7 million of the shares reserved for issuance remained available for grant under our stock-based compensation plans .", "we issue new shares upon the exercise of stock options or when restrictions on rsus and psus have been satisfied .", "the following table summarizes activity related to nonvested rsus during 2013 : number of rsus ( in thousands ) weighted average grant-date fair value per share ." ]

[ "rsus are valued based on the fair value of our common stock on the date of grant .", "employees who are granted rsus receive the right to receive shares of stock after completion of the vesting period , however , the shares are not issued , and the employees cannot sell or transfer shares prior to vesting and have no voting rights until the rsus vest , generally three years from the date of the award .", "employees who are granted rsus receive dividend-equivalent cash payments only upon vesting .", "for these rsu awards , the grant-date fair value is equal to the closing market price of our common stock on the date of grant less a discount to reflect the delay in payment of dividend-equivalent cash payments .", "we recognize the grant-date fair value of rsus , less estimated forfeitures , as compensation expense ratably over the requisite service period , which beginning with the rsus granted in 2013 is shorter than the vesting period if the employee is retirement eligible on the date of grant or will become retirement eligible before the end of the vesting period .", "stock options we generally recognize compensation cost for stock options ratably over the three-year vesting period .", "at december 31 , 2013 and 2012 , there were 10.2 million ( weighted average exercise price of $ 83.65 ) and 20.6 million ( weighted average exercise price of $ 83.15 ) stock options outstanding .", "stock options outstanding at december 31 , 2013 have a weighted average remaining contractual life of approximately five years and an aggregate intrinsic value of $ 663 million , and we expect nearly all of these stock options to vest .", "of the stock options outstanding , 7.7 million ( weighted average exercise price of $ 84.37 ) have vested as of december 31 , 2013 and those stock options have a weighted average remaining contractual life of approximately four years and an aggregate intrinsic value of $ 497 million .", "there were 10.1 million ( weighted average exercise price of $ 82.72 ) stock options exercised during 2013 .", "we did not grant stock options to employees during 2013. ." ]

[ [ "", "Number of RSUs (In thousands)", "Weighted Average Grant-Date Fair Value PerShare" ], [ "Nonvested at December 31, 2012", "4,822", "$79.10" ], [ "Granted", "1,356", "89.24" ], [ "Vested", "(2,093)", "79.26" ], [ "Forfeited", "(226)", "81.74" ], [ "Nonvested at December 31, 2013", "3,859", "$82.42" ] ]

[ [ "", "number of rsus ( in thousands )", "weighted average grant-date fair value pershare" ], [ "nonvested at december 31 2012", "4822", "$ 79.10" ], [ "granted", "1356", "89.24" ], [ "vested", "-2093 ( 2093 )", "79.26" ], [ "forfeited", "-226 ( 226 )", "81.74" ], [ "nonvested at december 31 2013", "3859", "$ 82.42" ] ]

[ { "arg1": "3859", "arg2": "4822", "op": "minus1-1", "res": "-963" }, { "arg1": "#0", "arg2": "4822", "op": "divide1-2", "res": "-20%" } ]

[ "part iii item 10 .", "directors , executive officers and corporate governance the information required by this item is incorporated by reference to the 201celection of directors 201d section , the 201cdirector selection process 201d section , the 201ccode of conduct 201d section , the 201cprincipal committees of the board of directors 201d section , the 201caudit committee 201d section and the 201csection 16 ( a ) beneficial ownership reporting compliance 201d section of the proxy statement for the annual meeting of stockholders to be held on may 21 , 2015 ( the 201cproxy statement 201d ) , except for the description of our executive officers , which appears in part i of this report on form 10-k under the heading 201cexecutive officers of ipg . 201d new york stock exchange certification in 2014 , our chief executive officer provided the annual ceo certification to the new york stock exchange , as required under section 303a.12 ( a ) of the new york stock exchange listed company manual .", "item 11 .", "executive compensation the information required by this item is incorporated by reference to the 201cexecutive compensation 201d section , the 201cnon- management director compensation 201d section , the 201ccompensation discussion and analysis 201d section and the 201ccompensation and leadership talent committee report 201d section of the proxy statement .", "item 12 .", "security ownership of certain beneficial owners and management and related stockholder matters the information required by this item is incorporated by reference to the 201coutstanding shares and ownership of common stock 201d section of the proxy statement , except for information regarding the shares of common stock to be issued or which may be issued under our equity compensation plans as of december 31 , 2014 , which is provided in the following table .", "equity compensation plan information plan category number of shares of common stock to be issued upon exercise of outstanding options , warrants and rights ( a ) 123 weighted-average exercise price of outstanding stock options number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "15563666 9.70 41661517 equity compensation plans not approved by security holders .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "none 1 included a total of 5866475 performance-based share awards made under the 2009 and 2014 performance incentive plans representing the target number of shares of common stock to be issued to employees following the completion of the 2012-2014 performance period ( the 201c2014 ltip share awards 201d ) , the 2013-2015 performance period ( the 201c2015 ltip share awards 201d ) and the 2014-2016 performance period ( the 201c2016 ltip share awards 201d ) , respectively .", "the computation of the weighted-average exercise price in column ( b ) of this table does not take the 2014 ltip share awards , the 2015 ltip share awards or the 2016 ltip share awards into account .", "2 included a total of 98877 restricted share units and performance-based awards ( 201cshare unit awards 201d ) which may be settled in shares of common stock or cash .", "the computation of the weighted-average exercise price in column ( b ) of this table does not take the share unit awards into account .", "each share unit award actually settled in cash will increase the number of shares of common stock available for issuance shown in column ( c ) .", "3 ipg has issued restricted cash awards ( 201cperformance cash awards 201d ) , half of which shall be settled in shares of common stock and half of which shall be settled in cash .", "using the 2014 closing stock price of $ 20.77 , the awards which shall be settled in shares of common stock represent rights to an additional 2721405 shares .", "these shares are not included in the table above .", "4 included ( i ) 29045044 shares of common stock available for issuance under the 2014 performance incentive plan , ( ii ) 12181214 shares of common stock available for issuance under the employee stock purchase plan ( 2006 ) and ( iii ) 435259 shares of common stock available for issuance under the 2009 non-management directors 2019 stock incentive plan. ." ]

[ "part iii item 10 .", "directors , executive officers and corporate governance the information required by this item is incorporated by reference to the 201celection of directors 201d section , the 201cdirector selection process 201d section , the 201ccode of conduct 201d section , the 201cprincipal committees of the board of directors 201d section , the 201caudit committee 201d section and the 201csection 16 ( a ) beneficial ownership reporting compliance 201d section of the proxy statement for the annual meeting of stockholders to be held on may 21 , 2015 ( the 201cproxy statement 201d ) , except for the description of our executive officers , which appears in part i of this report on form 10-k under the heading 201cexecutive officers of ipg . 201d new york stock exchange certification in 2014 , our chief executive officer provided the annual ceo certification to the new york stock exchange , as required under section 303a.12 ( a ) of the new york stock exchange listed company manual .", "item 11 .", "executive compensation the information required by this item is incorporated by reference to the 201cexecutive compensation 201d section , the 201cnon- management director compensation 201d section , the 201ccompensation discussion and analysis 201d section and the 201ccompensation and leadership talent committee report 201d section of the proxy statement .", "item 12 .", "security ownership of certain beneficial owners and management and related stockholder matters the information required by this item is incorporated by reference to the 201coutstanding shares and ownership of common stock 201d section of the proxy statement , except for information regarding the shares of common stock to be issued or which may be issued under our equity compensation plans as of december 31 , 2014 , which is provided in the following table .", "equity compensation plan information plan category number of shares of common stock to be issued upon exercise of outstanding options , warrants and rights ( a ) 123 weighted-average exercise price of outstanding stock options number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "15563666 9.70 41661517 equity compensation plans not approved by security holders .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "none 1 included a total of 5866475 performance-based share awards made under the 2009 and 2014 performance incentive plans representing the target number of shares of common stock to be issued to employees following the completion of the 2012-2014 performance period ( the 201c2014 ltip share awards 201d ) , the 2013-2015 performance period ( the 201c2015 ltip share awards 201d ) and the 2014-2016 performance period ( the 201c2016 ltip share awards 201d ) , respectively .", "the computation of the weighted-average exercise price in column ( b ) of this table does not take the 2014 ltip share awards , the 2015 ltip share awards or the 2016 ltip share awards into account .", "2 included a total of 98877 restricted share units and performance-based awards ( 201cshare unit awards 201d ) which may be settled in shares of common stock or cash .", "the computation of the weighted-average exercise price in column ( b ) of this table does not take the share unit awards into account .", "each share unit award actually settled in cash will increase the number of shares of common stock available for issuance shown in column ( c ) .", "3 ipg has issued restricted cash awards ( 201cperformance cash awards 201d ) , half of which shall be settled in shares of common stock and half of which shall be settled in cash .", "using the 2014 closing stock price of $ 20.77 , the awards which shall be settled in shares of common stock represent rights to an additional 2721405 shares .", "these shares are not included in the table above .", "4 included ( i ) 29045044 shares of common stock available for issuance under the 2014 performance incentive plan , ( ii ) 12181214 shares of common stock available for issuance under the employee stock purchase plan ( 2006 ) and ( iii ) 435259 shares of common stock available for issuance under the 2009 non-management directors 2019 stock incentive plan. ." ]

[ [ "Plan Category", "Number of Shares of Common Stock to be Issued Upon Exercise of Outstanding Options, Warrants and Rights (a)^1,2,3", "Weighted-Average Exercise Price of Outstanding Stock Options (b)", "Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a))(c)⁴" ], [ "Equity Compensation Plans Approved by Security Holders", "15,563,666", "9.70", "41,661,517" ], [ "Equity Compensation Plans Not Approved by Security Holders", "None", "", "" ] ]

[ [ "plan category", "number of shares of common stock to be issued upon exercise of outstanding options warrants and rights ( a ) 123", "weighted-average exercise price of outstanding stock options ( b )", "number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c ) 4" ], [ "equity compensation plans approved by security holders", "15563666", "9.70", "41661517" ], [ "equity compensation plans not approved by security holders", "none", "", "" ] ]

[ { "arg1": "29045044", "arg2": "12181214", "op": "add1-1", "res": "41226258" }, { "arg1": "#0", "arg2": "435259", "op": "add1-2", "res": "41661517" } ]

[ "korea engineering plastics co. , ltd .", "founded in 1987 , kepco is the leading producer of pom in south korea .", "kepco is a venture between celanese's ticona business ( 50% ( 50 % ) ) , mitsubishi gas chemical company , inc .", "( 40% ( 40 % ) ) and mitsubishi corporation ( 10% ( 10 % ) ) .", "kepco has polyacetal production facilities in ulsan , south korea , compounding facilities for pbt and nylon in pyongtaek , south korea , and participates with polyplastics and mitsubishi gas chemical company , inc .", "in a world-scale pom facility in nantong , china .", "polyplastics co. , ltd .", "polyplastics is a leading supplier of engineered plastics in the asia-pacific region and is a venture between daicel chemical industries ltd. , japan ( 55% ( 55 % ) ) , and celanese's ticona business ( 45% ( 45 % ) ) .", "established in 1964 , polyplastics is a producer and marketer of pom and lcp in the asia-pacific region , with principal production facilities located in japan , taiwan , malaysia and china .", "fortron industries llc .", "fortron is a leading global producer of polyphenylene sulfide ( 201cpps 201d ) , sold under the fortron ae brand , which is used in a wide variety of automotive and other applications , especially those requiring heat and/or chemical resistance .", "established in 1992 , fortron is a limited liability company whose members are ticona fortron inc .", "( 50% ( 50 % ) ownership and a wholly-owned subsidiary of cna holdings , llc ) and kureha corporation ( 50% ( 50 % ) ownership and a wholly-owned subsidiary of kureha chemical industry co. , ltd .", "of japan ) .", "fortron's facility is located in wilmington , north carolina .", "this venture combines the sales , marketing , distribution , compounding and manufacturing expertise of celanese with the pps polymer technology expertise of kureha .", "china acetate strategic ventures .", "we hold an approximate 30% ( 30 % ) ownership interest in three separate acetate production ventures in china .", "these include the nantong cellulose fibers co .", "ltd. , kunming cellulose fibers co .", "ltd .", "and zhuhai cellulose fibers co .", "ltd .", "the china national tobacco corporation , the chinese state-owned tobacco entity , controls the remaining ownership interest in each of these ventures .", "with an estimated 30% ( 30 % ) share of the world's cigarette production and consumption , china is the world's largest and fastest growing area for acetate tow products according to the 2009 stanford research institute international chemical economics handbook .", "combined , these ventures are a leader in chinese domestic acetate production and are well positioned to supply chinese cigarette producers .", "in december 2009 , we announced plans with china national tobacco to expand our acetate flake and tow capacity at our venture's nantong facility and we received formal approval for the expansions , each by 30000 tons , during 2010 .", "since their inception in 1986 , the china acetate ventures have completed 12 expansions , leading to earnings growth and increased dividends .", "our chinese acetate ventures fund their operations using operating cash flow .", "during 2011 , we made contributions of $ 8 million related to the capacity expansions in nantong and have committed contributions of $ 9 million in 2012 .", "in 2010 , we made contributions of $ 12 million .", "our chinese acetate ventures pay a dividend in the second quarter of each fiscal year , based on the ventures' performance for the preceding year .", "in 2011 , 2010 and 2009 , we received cash dividends of $ 78 million , $ 71 million and $ 56 million , respectively .", "although our ownership interest in each of our china acetate ventures exceeds 20% ( 20 % ) , we account for these investments using the cost method of accounting because we determined that we cannot exercise significant influence over these entities due to local government investment in and influence over these entities , limitations on our involvement in the day-to-day operations and the present inability of the entities to provide timely financial information prepared in accordance with generally accepted accounting principles in the united states ( 201cus gaap 201d ) .", "2022 other equity method investments infraservs .", "we hold indirect ownership interests in several infraserv groups in germany that own and develop industrial parks and provide on-site general and administrative support to tenants .", "the table below represents our equity investments in infraserv ventures as of december 31 , 2011: ." ]

[ "." ]

[ [ "", "Ownership %" ], [ "InfraServ GmbH & Co. Gendorf KG", "39" ], [ "InfraServ GmbH & Co. Knapsack KG", "27" ], [ "InfraServ GmbH & Co. Hoechst KG", "32" ] ]

[ [ "", "ownership % ( % )" ], [ "infraserv gmbh & co . gendorf kg", "39" ], [ "infraserv gmbh & co . knapsack kg", "27" ], [ "infraserv gmbh & co . hoechst kg", "32" ] ]

[ { "arg1": "71", "arg2": "56", "op": "minus2-1", "res": "15" }, { "arg1": "#0", "arg2": "56", "op": "divide2-2", "res": "26.8%" } ]

[ "entergy new orleans , inc .", "management's financial discussion and analysis 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 ) ." ]

[ "the fuel recovery variance is due to the inclusion of grand gulf costs in fuel recoveries effective july 1 , 2006 .", "in june 2006 , the city council approved the recovery of grand gulf costs through the fuel adjustment clause , without a corresponding change in base rates ( a significant portion of grand gulf costs was previously recovered through base rates ) .", "the volume/weather variance is due to an increase in electricity usage in the service territory in 2007 compared to the same period in 2006 .", "the first quarter 2006 was affected by customer losses following hurricane katrina .", "entergy new orleans estimates that approximately 132000 electric customers and 86000 gas customers have returned and are taking service as of december 31 , 2007 , compared to approximately 95000 electric customers and 65000 gas customers as of december 31 , 2006 .", "billed retail electricity usage increased a total of 540 gwh compared to the same period in 2006 , an increase of 14% ( 14 % ) .", "the rider revenue variance is due primarily to a storm reserve rider effective march 2007 as a result of the city council's approval of a settlement agreement in october 2006 .", "the approved storm reserve has been set to collect $ 75 million over a ten-year period through the rider and the funds will be held in a restricted escrow account .", "the settlement agreement is discussed in note 2 to the financial statements .", "the net wholesale revenue variance is due to more energy available for resale in 2006 due to the decrease in retail usage caused by customer losses following hurricane katrina .", "in addition , 2006 revenue includes the sales into the wholesale market of entergy new orleans' share of the output of grand gulf , pursuant to city council approval of measures proposed by entergy new orleans to address the reduction in entergy new orleans' retail customer usage caused by hurricane katrina and to provide revenue support for the costs of entergy new orleans' share of grand other income statement variances 2008 compared to 2007 other operation and maintenance expenses decreased primarily due to : a provision for storm-related bad debts of $ 11 million recorded in 2007 ; a decrease of $ 6.2 million in legal and professional fees ; a decrease of $ 3.4 million in employee benefit expenses ; and a decrease of $ 1.9 million in gas operations spending due to higher labor and material costs for reliability work in 2007. ." ]

[ [ "", "Amount (In Millions)" ], [ "2006 net revenue", "$192.2" ], [ "Fuel recovery", "42.6" ], [ "Volume/weather", "25.6" ], [ "Rider revenue", "8.5" ], [ "Net wholesale revenue", "(41.2)" ], [ "Other", "3.3" ], [ "2007 net revenue", "$231.0" ] ]

[ [ "", "amount ( in millions )" ], [ "2006 net revenue", "$ 192.2" ], [ "fuel recovery", "42.6" ], [ "volume/weather", "25.6" ], [ "rider revenue", "8.5" ], [ "net wholesale revenue", "-41.2 ( 41.2 )" ], [ "other", "3.3" ], [ "2007 net revenue", "$ 231.0" ] ]

[]

[ "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 91% ( 91 % ) and 86% ( 86 % ) as of december 31 , 2014 and 2013 , 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 ." ]

[ "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 , 2014 .", "we had $ 1667.2 of cash , cash equivalents and marketable securities as of december 31 , 2014 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 2014 and 2013 , we had interest income of $ 27.4 and $ 24.7 , respectively .", "based on our 2014 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 16.7 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2014 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 2014 included the argentine peso , australian dollar , brazilian real and british pound sterling .", "based on 2014 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 2014 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 have not entered into a material amount of foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates. ." ]

[ [ "", "Increase/(Decrease)in Fair Market Value" ], [ "As of December 31,", "10% Increasein Interest Rates", "10% Decreasein Interest Rates" ], [ "2014", "$(35.5)", "$36.6" ], [ "2013", "(26.9)", "27.9" ] ]

[ [ "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" ], [ "2014", "$ -35.5 ( 35.5 )", "$ 36.6" ], [ "2013", "-26.9 ( 26.9 )", "27.9" ] ]

[ { "arg1": "27.4", "arg2": "24.7", "op": "add1-1", "res": "52.1" }, { "arg1": "#0", "arg2": "const_2", "op": "divide1-2", "res": "26.05" } ]

[ "the following table shows reporting units with goodwill balances as of december 31 , 2010 , and the excess of fair value as a percentage over allocated book value as of the annual impairment test .", "in millions of dollars reporting unit ( 1 ) fair value as a % ( % ) of allocated book value goodwill ." ]

[ "( 1 ) local consumer lending 2014other is excluded from the table as there is no goodwill allocated to it .", "while no impairment was noted in step one of citigroup 2019s local consumer lending 2014cards reporting unit impairment test at july 1 , 2010 , goodwill present in the reporting unit may be sensitive to further deterioration as the valuation of the reporting unit is particularly dependent upon economic conditions that affect consumer credit risk and behavior .", "citigroup engaged the services of an independent valuation specialist to assist in the valuation of the reporting unit at july 1 , 2010 , using a combination of the market approach and income approach consistent with the valuation model used in past practice , which considered the impact of the penalty fee provisions associated with the credit card accountability responsibility and disclosure act of 2009 ( card act ) that were implemented during 2010 .", "under the market approach for valuing this reporting unit , the key assumption is the selected price multiple .", "the selection of the multiple considers the operating performance and financial condition of the local consumer lending 2014cards operations as compared with those of a group of selected publicly traded guideline companies and a group of selected acquired companies .", "among other factors , the level and expected growth in return on tangible equity relative to those of the guideline companies and guideline transactions is considered .", "since the guideline company prices used are on a minority interest basis , the selection of the multiple considers the guideline acquisition prices , which reflect control rights and privileges , in arriving at a multiple that reflects an appropriate control premium .", "for the local consumer lending 2014cards valuation under the income approach , the assumptions used as the basis for the model include cash flows for the forecasted period , the assumptions embedded in arriving at an estimation of the terminal value and the discount rate .", "the cash flows for the forecasted period are estimated based on management 2019s most recent projections available as of the testing date , giving consideration to targeted equity capital requirements based on selected public guideline companies for the reporting unit .", "in arriving at the terminal value for local consumer lending 2014cards , using 2013 as the terminal year , the assumptions used include a long-term growth rate and a price-to-tangible book multiple based on selected public guideline companies for the reporting unit .", "the discount rate is based on the reporting unit 2019s estimated cost of equity capital computed under the capital asset pricing model .", "embedded in the key assumptions underlying the valuation model , described above , is the inherent uncertainty regarding the possibility that economic conditions may deteriorate or other events will occur that will impact the business model for local consumer lending 2014cards .", "while there is inherent uncertainty embedded in the assumptions used in developing management 2019s forecasts , the company utilized a discount rate at july 1 , 2010 that it believes reflects the risk characteristics and uncertainty specific to management 2019s forecasts and assumptions for the local consumer lending 2014cards reporting unit .", "two primary categories of events exist 2014economic conditions in the u.s .", "and regulatory actions 2014which , if they were to occur , could negatively affect key assumptions used in the valuation of local consumer lending 2014cards .", "small deterioration in the assumptions used in the valuations , in particular the discount-rate and growth-rate assumptions used in the net income projections , could significantly affect citigroup 2019s impairment evaluation and , hence , results .", "if the future were to differ adversely from management 2019s best estimate of key economic assumptions , and associated cash flows were to decrease by a small margin , citi could potentially experience future material impairment charges with respect to $ 4560 million of goodwill remaining in the local consumer lending 2014 cards reporting unit .", "any such charges , by themselves , would not negatively affect citi 2019s tier 1 and total capital regulatory ratios , tier 1 common ratio , its tangible common equity or citi 2019s liquidity position. ." ]

[ [ "Reporting unit(1)", "Fair value as a % of allocated book value", "Goodwill" ], [ "North America Regional Consumer Banking", "170%", "$2,518" ], [ "EMEA Regional Consumer Banking", "168", "338" ], [ "Asia Regional Consumer Banking", "344", "6,045" ], [ "Latin America Regional Consumer Banking", "230", "1,800" ], [ "Securities and Banking", "223", "9,259" ], [ "Transaction Services", "1,716", "1,567" ], [ "Brokerage and Asset Management", "151", "65" ], [ "Local Consumer Lending—Cards", "121", "4,560" ] ]

[ [ "reporting unit ( 1 )", "fair value as a % ( % ) of allocated book value", "goodwill" ], [ "north america regional consumer banking", "170% ( 170 % )", "$ 2518" ], [ "emea regional consumer banking", "168", "338" ], [ "asia regional consumer banking", "344", "6045" ], [ "latin america regional consumer banking", "230", "1800" ], [ "securities and banking", "223", "9259" ], [ "transaction services", "1716", "1567" ], [ "brokerage and asset management", "151", "65" ], [ "local consumer lending 2014cards", "121", "4560" ] ]

[]

[ "devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) proved undeveloped reserves the following table presents the changes in devon 2019s total proved undeveloped reserves during 2014 ( in mmboe ) . ." ]

[ "at december 31 , 2014 , devon had 689 mmboe of proved undeveloped reserves .", "this represents a 2 percent decrease as compared to 2013 and represents 25 percent of total proved reserves .", "drilling and development activities increased devon 2019s proved undeveloped reserves 161 mmboe and resulted in the conversion of 89 mmboe , or 13 percent , of the 2013 proved undeveloped reserves to proved developed reserves .", "costs incurred related to the development and conversion of devon 2019s proved undeveloped reserves were approximately $ 1.0 billion for 2014 .", "additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 43 mmboe primarily due to evaluations of certain u.s .", "onshore dry-gas areas , which devon does not expect to develop in the next five years .", "the largest revisions , which were approximately 69 mmboe , relate to the dry-gas areas in the barnett shale in north texas .", "a significant amount of devon 2019s proved undeveloped reserves at the end of 2014 related to its jackfish operations .", "at december 31 , 2014 and 2013 , devon 2019s jackfish proved undeveloped reserves were 384 mmboe and 441 mmboe , respectively .", "development schedules for the jackfish reserves are primarily controlled by the need to keep the processing plants at their 35000 barrel daily facility capacity .", "processing plant capacity is controlled by factors such as total steam processing capacity and steam-oil ratios .", "furthermore , development of these projects involves the up-front construction of steam injection/distribution and bitumen processing facilities .", "due to the large up-front capital investments and large reserves required to provide economic returns , the project conditions meet the specific circumstances requiring a period greater than 5 years for conversion to developed reserves .", "as a result , these reserves are classified as proved undeveloped for more than five years .", "currently , the development schedule for these reserves extends though the year 2031 .", "price revisions 2014 2013 reserves increased 9 mmboe primarily due to higher gas prices in the barnett shale and the anadarko basin , partially offset by higher bitumen prices , which result in lower after-royalty volumes , in canada .", "2013 2013 reserves increased 94 mmboe primarily due to higher gas prices .", "of this increase , 43 mmboe related to the barnett shale and 19 mmboe related to the rocky mountain area .", "2012 2013 reserves decreased 171 mmboe primarily due to lower gas prices .", "of this decrease , 100 mmboe related to the barnett shale and 25 mmboe related to the rocky mountain area. ." ]

[ [ "", "U.S.", "Canada", "Total" ], [ "Proved undeveloped reserves as of December 31, 2013", "258", "443", "701" ], [ "Extensions and discoveries", "153", "8", "161" ], [ "Revisions due to prices", "(1)", "(34)", "(35)" ], [ "Revisions other than price", "(61)", "18", "(43)" ], [ "Sale of reserves", "(4)", "(2)", "(6)" ], [ "Conversion to proved developed reserves", "(40)", "(49)", "(89)" ], [ "Proved undeveloped reserves as of December 31, 2014", "305", "384", "689" ] ]

[ [ "", "u.s .", "canada", "total" ], [ "proved undeveloped reserves as of december 31 2013", "258", "443", "701" ], [ "extensions and discoveries", "153", "8", "161" ], [ "revisions due to prices", "-1 ( 1 )", "-34 ( 34 )", "-35 ( 35 )" ], [ "revisions other than price", "-61 ( 61 )", "18", "-43 ( 43 )" ], [ "sale of reserves", "-4 ( 4 )", "-2 ( 2 )", "-6 ( 6 )" ], [ "conversion to proved developed reserves", "-40 ( 40 )", "-49 ( 49 )", "-89 ( 89 )" ], [ "proved undeveloped reserves as of december 31 2014", "305", "384", "689" ] ]

[ { "arg1": "701", "arg2": "161", "op": "add2-1", "res": "862" }, { "arg1": "#0", "arg2": "689", "op": "divide2-2", "res": "1.251" }, { "arg1": "#1", "arg2": "const_100", "op": "multiply2-3", "res": "125.1" } ]

[ "results of operations for 2016 include : 1 ) $ 2836 million ( $ 1829 million net-of-tax ) of impairment and related charges primarily to write down the carrying values of the entergy wholesale commodities 2019 palisades , indian point 2 , and indian point 3 plants and related assets to their fair values ; 2 ) a reduction of income tax expense , net of unrecognized tax benefits , of $ 238 million as a result of a change in the tax classification of a legal entity that owned one of the entergy wholesale commodities nuclear power plants ; income tax benefits as a result of the settlement of the 2010-2011 irs audit , including a $ 75 million tax benefit recognized by entergy louisiana related to the treatment of the vidalia purchased power agreement and a $ 54 million net benefit recognized by entergy louisiana related to the treatment of proceeds received in 2010 for the financing of hurricane gustav and hurricane ike storm costs pursuant to louisiana act 55 ; and 3 ) a reduction in expenses of $ 100 million ( $ 64 million net-of-tax ) due to the effects of recording in 2016 the final court decisions in several lawsuits against the doe related to spent nuclear fuel storage costs .", "see note 14 to the financial statements for further discussion of the impairment and related charges , see note 3 to the financial statements for additional discussion of the income tax items , and see note 8 to the financial statements for discussion of the spent nuclear fuel litigation .", "net revenue utility following is an analysis of the change in net revenue comparing 2017 to 2016 .", "amount ( in millions ) ." ]

[ "the retail electric price variance is primarily due to : 2022 the implementation of formula rate plan rates effective with the first billing cycle of january 2017 at entergy arkansas and an increase in base rates effective february 24 , 2016 , each as approved by the apsc .", "a significant portion of the base rate increase was related to the purchase of power block 2 of the union power station in march 2016 ; 2022 a provision recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding ; 2022 the implementation of the transmission cost recovery factor rider at entergy texas , effective september 2016 , and an increase in the transmission cost recovery factor rider rate , effective march 2017 , as approved by the puct ; and 2022 an increase in rates at entergy mississippi , as approved by the mpsc , effective with the first billing cycle of july 2016 .", "see note 2 to the financial statements for further discussion of the rate proceedings and the waterford 3 replacement steam generator prudence review proceeding .", "see note 14 to the financial statements for discussion of the union power station purchase .", "entergy corporation and subsidiaries management 2019s financial discussion and analysis ." ]

[ [ "", "Amount (In Millions)" ], [ "2016 net revenue", "$6,179" ], [ "Retail electric price", "91" ], [ "Regulatory credit resulting from reduction of thefederal corporate income tax rate", "56" ], [ "Grand Gulf recovery", "27" ], [ "Louisiana Act 55 financing savings obligation", "17" ], [ "Volume/weather", "(61)" ], [ "Other", "9" ], [ "2017 net revenue", "$6,318" ] ]

[ [ "", "amount ( in millions )" ], [ "2016 net revenue", "$ 6179" ], [ "retail electric price", "91" ], [ "regulatory credit resulting from reduction of thefederal corporate income tax rate", "56" ], [ "grand gulf recovery", "27" ], [ "louisiana act 55 financing savings obligation", "17" ], [ "volume/weather", "-61 ( 61 )" ], [ "other", "9" ], [ "2017 net revenue", "$ 6318" ] ]

[ { "arg1": "6318", "arg2": "6179", "op": "minus1-1", "res": "139" }, { "arg1": "#0", "arg2": "6179", "op": "divide1-2", "res": "2.25%" } ]

[ "performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 28 , 2012 through october 29 , 2017 .", "this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period .", "the comparison assumes $ 100 was invested on october 28 , 2012 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any .", "dollar amounts in the graph are rounded to the nearest whole dollar .", "the performance shown in the graph represents past performance and should not be considered an indication of future performance .", "comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index and the rdg semiconductor composite index *assumes $ 100 invested on 10/28/12 in stock or 10/31/12 in index , including reinvestment of dividends .", "indexes calculated on month-end basis .", "copyright a9 2017 standard & poor 2019s , a division of s&p global .", "all rights reserved. ." ]

[ "dividends during each of fiscal 2017 , 2016 and 2015 , applied 2019s board of directors declared four quarterly cash dividends in the amount of $ 0.10 per share .", "applied currently anticipates that cash dividends will continue to be paid on a quarterly basis , although the declaration of any future cash dividend is at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination by the board of directors that cash dividends are in the best interests of applied 2019s stockholders .", "10/28/12 10/27/13 10/26/14 10/25/15 10/30/16 10/29/17 applied materials , inc .", "s&p 500 rdg semiconductor composite ." ]

[ [ "", "10/28/2012", "10/27/2013", "10/26/2014", "10/25/2015", "10/30/2016", "10/29/2017" ], [ "Applied Materials", "100.00", "171.03", "207.01", "165.34", "293.64", "586.91" ], [ "S&P 500 Index", "100.00", "127.18", "149.14", "156.89", "163.97", "202.72" ], [ "RDG Semiconductor Composite Index", "100.00", "131.94", "167.25", "160.80", "193.36", "288.96" ] ]

[ [ "", "10/28/2012", "10/27/2013", "10/26/2014", "10/25/2015", "10/30/2016", "10/29/2017" ], [ "applied materials", "100.00", "171.03", "207.01", "165.34", "293.64", "586.91" ], [ "s&p 500 index", "100.00", "127.18", "149.14", "156.89", "163.97", "202.72" ], [ "rdg semiconductor composite index", "100.00", "131.94", "167.25", "160.80", "193.36", "288.96" ] ]

[]

[ "state street corporation notes to consolidated financial statements ( continued ) with respect to the 5.25% ( 5.25 % ) subordinated bank notes due 2018 , state street bank is required to make semi- annual interest payments on the outstanding principal balance of the notes on april 15 and october 15 of each year , and the notes qualify for inclusion in tier 2 regulatory capital under current federal regulatory capital guidelines .", "with respect to the 5.30% ( 5.30 % ) subordinated notes due 2016 and the floating-rate subordinated notes due 2015 , state street bank is required to make semi-annual interest payments on the outstanding principal balance of the 5.30% ( 5.30 % ) subordinated notes on january 15 and july 15 of each year , and quarterly interest payments on the outstanding principal balance of the floating-rate notes on march 8 , june 8 , september 8 and december 8 of each year .", "each of the subordinated notes qualifies for inclusion in tier 2 regulatory capital under current federal regulatory capital guidelines .", "note 11 .", "commitments , guarantees and contingencies commitments : we had unfunded off-balance sheet commitments to extend credit totaling $ 21.30 billion and $ 17.86 billion as of december 31 , 2013 and 2012 , respectively .", "the potential losses associated with these commitments equal the gross contractual amounts , and do not consider the value of any collateral .", "approximately 75% ( 75 % ) of our unfunded commitments to extend credit expire within one year from the date of issue .", "since many of these commitments are expected to expire or renew without being drawn upon , the gross contractual amounts do not necessarily represent our future cash requirements .", "guarantees : off-balance sheet guarantees are composed of indemnified securities financing , stable value protection , unfunded commitments to purchase assets , and standby letters of credit .", "the potential losses associated with these guarantees equal the gross contractual amounts , and do not consider the value of any collateral .", "the following table presents the aggregate gross contractual amounts of our off-balance sheet guarantees as of december 31 , 2013 and 2012 .", "amounts presented do not reflect participations to independent third parties. ." ]

[ "indemnified securities financing on behalf of our clients , we lend their securities , as agent , to brokers and other institutions .", "in most circumstances , we indemnify our clients for the fair market value of those securities against a failure of the borrower to return such securities .", "we require the borrowers to maintain collateral in an amount equal to or in excess of 100% ( 100 % ) of the fair market value of the securities borrowed .", "securities on loan and the collateral are revalued daily to determine if additional collateral is necessary or if excess collateral is required to be returned to the borrower .", "collateral received in connection with our securities lending services is held by us as agent and is not recorded in our consolidated statement of condition .", "the cash collateral held by us as agent is invested on behalf of our clients .", "in certain cases , the cash collateral is invested in third-party repurchase agreements , for which we indemnify the client against loss of the principal invested .", "we require the counterparty to the indemnified repurchase agreement to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the amount of the repurchase agreement .", "in our role as agent , the indemnified repurchase agreements and the related collateral held by us are not recorded in our consolidated statement of condition. ." ]

[ [ "(In millions)", "2013", "2012" ], [ "Indemnified securities financing", "$320,078", "$302,341" ], [ "Stable value protection", "24,906", "33,512" ], [ "Asset purchase agreements", "4,685", "5,063" ], [ "Standby letters of credit", "4,612", "4,552" ] ]

[ [ "( in millions )", "2013", "2012" ], [ "indemnified securities financing", "$ 320078", "$ 302341" ], [ "stable value protection", "24906", "33512" ], [ "asset purchase agreements", "4685", "5063" ], [ "standby letters of credit", "4612", "4552" ] ]

[ { "arg1": "4685", "arg2": "5063", "op": "minus1-1", "res": "-378" }, { "arg1": "#0", "arg2": "5063", "op": "divide1-2", "res": "-7.5%" } ]

[ "the company recognizes accrued interest and penalties related to tax positions as a component of income tax expense and accounts for sales tax collected from customers and remitted to taxing authorities on a net basis .", "allowance for funds used during construction afudc is a non-cash credit to income with a corresponding charge to utility plant that represents the cost of borrowed funds or a return on equity funds devoted to plant under construction .", "the regulated utility subsidiaries record afudc to the extent permitted by the pucs .", "the portion of afudc attributable to borrowed funds is shown as a reduction of interest , net in the accompanying consolidated statements of operations .", "any portion of afudc attributable to equity funds would be included in other income ( expenses ) in the accompanying consolidated statements of operations .", "afudc is summarized in the following table for the years ended december 31: ." ]

[ "environmental costs the company 2019s water and wastewater operations are subject to u.s .", "federal , state , local and foreign requirements relating to environmental protection , and as such , the company periodically becomes subject to environmental claims in the normal course of business .", "environmental expenditures that relate to current operations or provide a future benefit are expensed or capitalized as appropriate .", "remediation costs that relate to an existing condition caused by past operations are accrued , on an undiscounted basis , when it is probable that these costs will be incurred and can be reasonably estimated .", "remediation costs accrued amounted to $ 1 and $ 2 as of december 31 , 2015 and 2014 , respectively .", "the accrual relates entirely to a conservation agreement entered into by a subsidiary of the company with the national oceanic and atmospheric administration ( 201cnoaa 201d ) requiring the company to , among other provisions , implement certain measures to protect the steelhead trout and its habitat in the carmel river watershed in the state of california .", "the company has agreed to pay $ 1 annually from 2010 to 2016 .", "the company 2019s inception-to-date costs related to the noaa agreement were recorded in regulatory assets in the accompanying consolidated balance sheets as of december 31 , 2015 and 2014 and are expected to be fully recovered from customers in future rates .", "derivative financial instruments the company uses derivative financial instruments for purposes of hedging exposures to fluctuations in interest rates .", "these derivative contracts are entered into for periods consistent with the related underlying exposures and do not constitute positions independent of those exposures .", "the company does not enter into derivative contracts for speculative purposes and does not use leveraged instruments .", "all derivatives are recognized on the balance sheet at fair value .", "on the date the derivative contract is entered into , the company may designate the derivative as a hedge of the fair value of a recognized asset or liability ( fair-value hedge ) or a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability ( cash-flow hedge ) .", "changes in the fair value of a fair-value hedge , along with the gain or loss on the underlying hedged item , are recorded in current-period earnings .", "the effective portion of gains and losses on cash-flow hedges are recorded in other comprehensive income , until earnings are affected by the variability of cash flows .", "any ineffective portion of designated hedges is recognized in current-period earnings .", "cash flows from derivative contracts are included in net cash provided by operating activities in the accompanying consolidated statements of cash flows. ." ]

[ [ "", "2015", "2014", "2013" ], [ "Allowance for other funds used during construction", "$13", "$9", "$13" ], [ "Allowance for borrowed funds used during construction", "8", "6", "6" ] ]

[ [ "", "2015", "2014", "2013" ], [ "allowance for other funds used during construction", "$ 13", "$ 9", "$ 13" ], [ "allowance for borrowed funds used during construction", "8", "6", "6" ] ]

[ { "arg1": "const_9", "arg2": "13", "op": "minus2-1", "res": "-4" }, { "arg1": "#0", "arg2": "const_9", "op": "divide2-2", "res": "-44.4%" } ]

[ "celanese corporation and subsidiaries notes to consolidated financial statements ( continued ) 2022 amend certain material agreements governing bcp crystal 2019s indebtedness ; 2022 change the business conducted by celanese holdings and its subsidiaries ; and 2022 enter into hedging agreements that restrict dividends from subsidiaries .", "in addition , the senior credit facilities require bcp crystal to maintain the following financial covenants : a maximum total leverage ratio , a maximum bank debt leverage ratio , a minimum interest coverage ratio and maximum capital expenditures limitation .", "the maximum consolidated net bank debt to adjusted ebitda ratio , as defined , previously required under the senior credit facilities , was eliminated when the company amended the facilities in january 2005 .", "as of december 31 , 2005 , the company was in compliance with all of the financial covenants related to its debt agreements .", "the maturation of the company 2019s debt , including short term borrowings , is as follows : ( in $ millions ) ." ]

[ "( 1 ) includes $ 2 million purchase accounting adjustment to assumed debt .", "17 .", "benefit obligations pension obligations .", "pension obligations are established for benefits payable in the form of retirement , disability and surviving dependent pensions .", "the benefits offered vary according to the legal , fiscal and economic conditions of each country .", "the commitments result from participation in defined contribution and defined benefit plans , primarily in the u.s .", "benefits are dependent on years of service and the employee 2019s compensation .", "supplemental retirement benefits provided to certain employees are non-qualified for u.s .", "tax purposes .", "separate trusts have been established for some non-qualified plans .", "defined benefit pension plans exist at certain locations in north america and europe .", "as of december 31 , 2005 , the company 2019s u.s .", "qualified pension plan represented greater than 85% ( 85 % ) and 75% ( 75 % ) of celanese 2019s pension plan assets and liabilities , respectively .", "independent trusts or insurance companies administer the majority of these plans .", "actuarial valuations for these plans are prepared annually .", "the company sponsors various defined contribution plans in europe and north america covering certain employees .", "employees may contribute to these plans and the company will match these contributions in varying amounts .", "contributions to the defined contribution plans are based on specified percentages of employee contributions and they aggregated $ 12 million for the year ended decem- ber 31 , 2005 , $ 8 million for the nine months ended december 31 , 2004 , $ 3 million for the three months ended march 31 , 2004 and $ 11 million for the year ended december 31 , 2003 .", "in connection with the acquisition of cag , the purchaser agreed to pre-fund $ 463 million of certain pension obligations .", "during the nine months ended december 31 , 2004 , $ 409 million was pre-funded to the company 2019s pension plans .", "the company contributed an additional $ 54 million to the non-qualified pension plan 2019s rabbi trusts in february 2005 .", "in connection with the company 2019s acquisition of vinamul and acetex , the company assumed certain assets and obligations related to the acquired pension plans .", "the company recorded liabilities of $ 128 million for these pension plans .", "total pension assets acquired amounted to $ 85 million. ." ]

[ [ "", "Total (in$millions)" ], [ "2006", "155" ], [ "2007", "29" ], [ "2008", "22" ], [ "2009", "40" ], [ "2010", "28" ], [ "Thereafter⁽¹⁾", "3,163" ], [ "Total", "3,437" ] ]

[ [ "", "total ( in$ millions )" ], [ "2006", "155" ], [ "2007", "29" ], [ "2008", "22" ], [ "2009", "40" ], [ "2010", "28" ], [ "thereafter ( 1 )", "3163" ], [ "total", "3437" ] ]

[]

[ "13 .", "rentals and leases the company leases sales and administrative office facilities , distribution centers , research and manufacturing facilities , as well as vehicles and other equipment under operating leases .", "total rental expense under the company 2019s operating leases was $ 239 million in 2017 and $ 221 million in both 2016 and 2015 .", "as of december 31 , 2017 , identifiable future minimum payments with non-cancelable terms in excess of one year were : ( millions ) ." ]

[ "the company enters into operating leases for vehicles whose non-cancelable terms are one year or less in duration with month-to-month renewal options .", "these leases have been excluded from the table above .", "the company estimates payments under such leases will approximate $ 62 million in 2018 .", "these vehicle leases have guaranteed residual values that have historically been satisfied by the proceeds on the sale of the vehicles .", "14 .", "research and development expenditures research expenditures that relate to the development of new products and processes , including significant improvements and refinements to existing products , are expensed as incurred .", "such costs were $ 201 million in 2017 , $ 189 million in 2016 and $ 191 million in 2015 .", "the company did not participate in any material customer sponsored research during 2017 , 2016 or 2015 .", "15 .", "commitments and contingencies the company is subject to various claims and contingencies related to , among other things , workers 2019 compensation , general liability ( including product liability ) , automobile claims , health care claims , environmental matters and lawsuits .", "the company is also subject to various claims and contingencies related to income taxes , which are discussed in note 12 .", "the company also has contractual obligations including lease commitments , which are discussed in note 13 .", "the company records liabilities where a contingent loss is probable and can be reasonably estimated .", "if the reasonable estimate of a probable loss is a range , the company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount .", "the company discloses a contingent liability even if the liability is not probable or the amount is not estimable , or both , if there is a reasonable possibility that a material loss may have been incurred .", "insurance globally , the company has insurance policies with varying deductibility levels for property and casualty losses .", "the company is insured for losses in excess of these deductibles , subject to policy terms and conditions and has recorded both a liability and an offsetting receivable for amounts in excess of these deductibles .", "the company is self-insured for health care claims for eligible participating employees , subject to certain deductibles and limitations .", "the company determines its liabilities for claims on an actuarial basis .", "litigation and environmental matters the company and certain subsidiaries are party to various lawsuits , claims and environmental actions that have arisen in the ordinary course of business .", "these include from time to time antitrust , commercial , patent infringement , product liability and wage hour lawsuits , as well as possible obligations to investigate and mitigate the effects on the environment of the disposal or release of certain chemical substances at various sites , such as superfund sites and other operating or closed facilities .", "the company has established accruals for certain lawsuits , claims and environmental matters .", "the company currently believes that there is not a reasonably possible risk of material loss in excess of the amounts accrued related to these legal matters .", "because litigation is inherently uncertain , and unfavorable rulings or developments could occur , there can be no certainty that the company may not ultimately incur charges in excess of recorded liabilities .", "a future adverse ruling , settlement or unfavorable development could result in future charges that could have a material adverse effect on the company 2019s results of operations or cash flows in the period in which they are recorded .", "the company currently believes that such future charges related to suits and legal claims , if any , would not have a material adverse effect on the company 2019s consolidated financial position .", "environmental matters the company is currently participating in environmental assessments and remediation at approximately 45 locations , the majority of which are in the u.s. , and environmental liabilities have been accrued reflecting management 2019s best estimate of future costs .", "potential insurance reimbursements are not anticipated in the company 2019s accruals for environmental liabilities. ." ]

[ [ "2018", "$ 131" ], [ "2019", "115" ], [ "2020", "96" ], [ "2021", "86" ], [ "2022", "74" ], [ "Thereafter", "115" ], [ "Total", "$ 617" ] ]

[ [ "2018", "$ 131" ], [ "2019", "115" ], [ "2020", "96" ], [ "2021", "86" ], [ "2022", "74" ], [ "thereafter", "115" ], [ "total", "$ 617" ] ]

[ { "arg1": "201", "arg2": "189", "op": "add1-1", "res": "390" }, { "arg1": "#0", "arg2": "191", "op": "add1-2", "res": "581" } ]

[ "part a0iii item a010 .", "directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .", "of this report .", "for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .", "the proxy statement for our 2019 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .", "item a011 .", "executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .", "item a012 .", "security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .", "the following table sets forth certain information as of december a031 , 2018 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1471449 $ 136.62 3578241 ( 1 ) the number of securities in column ( a ) include 22290 shares of common stock underlying performance stock units if maximum performance levels are achieved ; the actual number of shares , if any , to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures .", "item a013 .", "certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .", "item a014 .", "principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference. ." ]

[ "part a0iii item a010 .", "directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .", "of this report .", "for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .", "the proxy statement for our 2019 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .", "item a011 .", "executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .", "item a012 .", "security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .", "the following table sets forth certain information as of december a031 , 2018 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1471449 $ 136.62 3578241 ( 1 ) the number of securities in column ( a ) include 22290 shares of common stock underlying performance stock units if maximum performance levels are achieved ; the actual number of shares , if any , to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures .", "item a013 .", "certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .", "item a014 .", "principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference. ." ]

[ [ "Plan Category", "Number of Securitiesto be Issued UponExercise ofOutstanding Options, Warrants and Rights₍₁₎ (A)(B)", "Weighted-AverageExercise Price ofOutstanding Options, Warrants and Rights", "Number of SecuritiesRemaining Available forFuture Issuance UnderEquity CompensationPlans (ExcludingSecurities Reflected in Column (A)) (C)" ], [ "Equity compensation plans approved by security holders", "1,471,449", "$136.62", "3,578,241" ] ]

[ [ "plan category", "number of securitiesto be issued uponexercise ofoutstanding options warrants and rights ( 1 ) ( a ) ( b )", "weighted-averageexercise price ofoutstanding options warrants and rights", "number of securitiesremaining available forfuture issuance underequity compensationplans ( excludingsecurities reflected in column ( a ) ) ( c )" ], [ "equity compensation plans approved by security holders", "1471449", "$ 136.62", "3578241" ] ]

[ { "arg1": "1471449", "arg2": "3578241", "op": "add1-1", "res": "5049690" }, { "arg1": "1471449", "arg2": "#0", "op": "divide1-2", "res": "29.1%" } ]

[ "federal realty investment trust schedule iii summary of real estate and accumulated depreciation 2014continued three years ended december 31 , 2009 reconciliation of accumulated depreciation and amortization ( in thousands ) ." ]

[ "." ]

[ [ "Balance, December 31, 2006", "$740,507" ], [ "Additions during period—depreciation and amortization expense", "96,454" ], [ "Deductions during period—disposition and retirements of property", "(80,258)" ], [ "Balance, December 31, 2007", "756,703" ], [ "Additions during period—depreciation and amortization expense", "101,321" ], [ "Deductions during period—disposition and retirements of property", "(11,766)" ], [ "Balance, December 31, 2008", "846,258" ], [ "Additions during period—depreciation and amortization expense", "103.698" ], [ "Deductions during period—disposition and retirements of property", "(11,869)" ], [ "Balance, December 31, 2009", "$938,087" ] ]

[ [ "balance december 31 2006", "$ 740507" ], [ "additions during period 2014depreciation and amortization expense", "96454" ], [ "deductions during period 2014disposition and retirements of property", "-80258 ( 80258 )" ], [ "balance december 31 2007", "756703" ], [ "additions during period 2014depreciation and amortization expense", "101321" ], [ "deductions during period 2014disposition and retirements of property", "-11766 ( 11766 )" ], [ "balance december 31 2008", "846258" ], [ "additions during period 2014depreciation and amortization expense", "103.698" ], [ "deductions during period 2014disposition and retirements of property", "-11869 ( 11869 )" ], [ "balance december 31 2009", "$ 938087" ] ]

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[ "american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the company has selected december 1 as the date to perform its annual impairment test .", "in performing its 2005 and 2004 testing , the company completed an internal appraisal and estimated the fair value of the rental and management reporting unit that contains goodwill utilizing future discounted cash flows and market information .", "based on the appraisals performed , the company determined that goodwill in its rental and management segment was not impaired .", "the company 2019s other intangible assets subject to amortization consist of the following as of december 31 , ( in thousands ) : ." ]

[ "the company amortizes its intangible assets over periods ranging from three to fifteen years .", "amortization of intangible assets for the years ended december 31 , 2005 and 2004 aggregated approximately $ 136.0 million and $ 97.8 million , respectively ( excluding amortization of deferred financing costs , which is included in interest expense ) .", "the company expects to record amortization expense of approximately $ 183.6 million , $ 178.3 million , $ 174.4 million , $ 172.7 million and $ 170.3 million , for the years ended december 31 , 2006 , 2007 , 2008 , 2009 and 2010 , respectively .", "these amounts are subject to changes in estimates until the preliminary allocation of the spectrasite purchase price is finalized .", "6 .", "notes receivable in 2000 , the company loaned tv azteca , s.a .", "de c.v .", "( tv azteca ) , the owner of a major national television network in mexico , $ 119.8 million .", "the loan , which initially bore interest at 12.87% ( 12.87 % ) , payable quarterly , was discounted by the company , as the fair value interest rate at the date of the loan was determined to be 14.25% ( 14.25 % ) .", "the loan was amended effective january 1 , 2003 to increase the original interest rate to 13.11% ( 13.11 % ) .", "as of december 31 , 2005 and 2004 , approximately $ 119.8 million undiscounted ( $ 108.2 million discounted ) under the loan was outstanding and included in notes receivable and other long-term assets in the accompanying consolidated balance sheets .", "the term of the loan is seventy years ; however , the loan may be prepaid by tv azteca without penalty during the last fifty years of the agreement .", "the discount on the loan is being amortized to interest income 2014tv azteca , net , using the effective interest method over the seventy-year term of the loan .", "simultaneous with the signing of the loan agreement , the company also entered into a seventy year economic rights agreement with tv azteca regarding space not used by tv azteca on approximately 190 of its broadcast towers .", "in exchange for the issuance of the below market interest rate loan discussed above and the annual payment of $ 1.5 million to tv azteca ( under the economic rights agreement ) , the company has the right to market and lease the unused tower space on the broadcast towers ( the economic rights ) .", "tv azteca retains title to these towers and is responsible for their operation and maintenance .", "the company is entitled to 100% ( 100 % ) of the revenues generated from leases with tenants on the unused space and is responsible for any incremental operating expenses associated with those tenants. ." ]

[ [ "", "2005", "2004" ], [ "Acquired customer base and network location intangibles", "$2,606,546", "$1,369,607" ], [ "Deferred financing costs", "65,623", "89,736" ], [ "Acquired licenses and other intangibles", "51,703", "43,404" ], [ "Total", "2,723,872", "1,502,747" ], [ "Less accumulated amortization", "(646,560)", "(517,444)" ], [ "Other intangible assets, net", "$2,077,312", "$985,303" ] ]

[ [ "", "2005", "2004" ], [ "acquired customer base and network location intangibles", "$ 2606546", "$ 1369607" ], [ "deferred financing costs", "65623", "89736" ], [ "acquired licenses and other intangibles", "51703", "43404" ], [ "total", "2723872", "1502747" ], [ "less accumulated amortization", "-646560 ( 646560 )", "-517444 ( 517444 )" ], [ "other intangible assets net", "$ 2077312", "$ 985303" ] ]

[ { "arg1": "646560", "arg2": "const_1000", "op": "divide1-1", "res": "646.6" }, { "arg1": "#0", "arg2": "183.6", "op": "add1-2", "res": "830.2" } ]

[ "discount rate 2014the assumed discount rate is used to determine the current retirement related benefit plan expense and obligations , and represents the interest rate that is used to determine the present value of future cash flows currently expected to be required to effectively settle a plan 2019s benefit obligations .", "the discount rate assumption is determined for each plan by constructing a portfolio of high quality bonds with cash flows that match the estimated outflows for future benefit payments to determine a single equivalent discount rate .", "benefit payments are not only contingent on the terms of a plan , but also on the underlying participant demographics , including current age , and assumed mortality .", "we use only bonds that are denominated in u.s .", "dollars , rated aa or better by two of three nationally recognized statistical rating agencies , have a minimum outstanding issue of $ 50 million as of the measurement date , and are not callable , convertible , or index linked .", "since bond yields are generally unavailable beyond 30 years , we assume those rates will remain constant beyond that point .", "taking into consideration the factors noted above , our weighted average discount rate for pensions was 5.23% ( 5.23 % ) and 5.84% ( 5.84 % ) , as of december 31 , 2011 and 2010 , respectively .", "our weighted average discount rate for other postretirement benefits was 4.94% ( 4.94 % ) and 5.58% ( 5.58 % ) as of december 31 , 2011 and 2010 , respectively .", "expected long-term rate of return 2014the expected long-term rate of return on assets is used to calculate net periodic expense , and is based on such factors as historical returns , targeted asset allocations , investment policy , duration , expected future long-term performance of individual asset classes , inflation trends , portfolio volatility , and risk management strategies .", "while studies are helpful in understanding current trends and performance , the assumption is based more on longer term and prospective views .", "in order to reflect expected lower future market returns , we have reduced the expected long-term rate of return assumption from 8.50% ( 8.50 % ) , used to record 2011 expense , to 8.00% ( 8.00 % ) for 2012 .", "the decrease in the expected return on assets assumption is primarily related to lower bond yields and updated return assumptions for equities .", "unless plan assets and benefit obligations are subject to remeasurement during the year , the expected return on pension assets is based on the fair value of plan assets at the beginning of the year .", "an increase or decrease of 25 basis points in the discount rate and the expected long-term rate of return assumptions would have had the following approximate impacts on pensions : ( $ in millions ) increase ( decrease ) in 2012 expense increase ( decrease ) in december 31 , 2011 obligations ." ]

[ "differences arising from actual experience or changes in assumptions might materially affect retirement related benefit plan obligations and the funded status .", "actuarial gains and losses arising from differences from actual experience or changes in assumptions are deferred in accumulated other comprehensive income .", "this unrecognized amount is amortized to the extent it exceeds 10% ( 10 % ) of the greater of the plan 2019s benefit obligation or plan assets .", "the amortization period for actuarial gains and losses is the estimated average remaining service life of the plan participants , which is approximately 10 years .", "cas expense 2014in addition to providing the methodology for calculating retirement related benefit plan costs , cas also prescribes the method for assigning those costs to specific periods .", "while the ultimate liability for such costs under fas and cas is similar , the pattern of cost recognition is different .", "the key drivers of cas pension expense include the funded status and the method used to calculate cas reimbursement for each of our plans as well as our expected long-term rate of return on assets assumption .", "unlike fas , cas requires the discount rate to be consistent with the expected long-term rate of return on assets assumption , which changes infrequently given its long-term nature .", "as a result , changes in bond or other interest rates generally do not impact cas .", "in addition , unlike under fas , we can only allocate pension costs for a plan under cas until such plan is fully funded as determined under erisa requirements .", "other fas and cas considerations 2014we update our estimates of future fas and cas costs at least annually based on factors such as calendar year actual plan asset returns , final census data from the end of the prior year , and other actual and projected experience .", "a key driver of the difference between fas and cas expense ( and consequently , the fas/cas adjustment ) is the pattern of earnings and expense recognition for gains and losses that arise when our asset and liability experiences differ from our assumptions under each set of requirements .", "under fas , our net gains and losses exceeding the 10% ( 10 % ) corridor are amortized ." ]

[ [ "($ in millions)", "Increase (Decrease) in 2012 Expense", "Increase (Decrease) in December 31, 2011 Obligations" ], [ "25 basis point decrease in discount rate", "$18", "$146" ], [ "25 basis point increase in discount rate", "(17)", "(154)" ], [ "25 basis point decrease in expected return on assets", "8", "n.a." ], [ "25 basis point increase in expected return on assets", "(8)", "n.a." ] ]

[ [ "( $ in millions )", "increase ( decrease ) in 2012 expense", "increase ( decrease ) in december 31 2011 obligations" ], [ "25 basis point decrease in discount rate", "$ 18", "$ 146" ], [ "25 basis point increase in discount rate", "-17 ( 17 )", "-154 ( 154 )" ], [ "25 basis point decrease in expected return on assets", "8", "n.a ." ], [ "25 basis point increase in expected return on assets", "-8 ( 8 )", "n.a ." ] ]

[ { "arg1": "5.23", "arg2": "5.84", "op": "minus1-1", "res": "-0.61" }, { "arg1": "#0", "arg2": "5.84", "op": "divide1-2", "res": "-10.4%" } ]

[ "the company has elected the fair-value option where the interest-rate risk of such liabilities is economically hedged with derivative contracts or the proceeds are used to purchase financial assets that will also be accounted for at fair value through earnings .", "the election has been made to mitigate accounting mismatches and to achieve operational simplifications .", "these positions are reported in short-term borrowings and long-term debt on the company 2019s consolidated balance sheet .", "the majority of these non-structured liabilities are a result of the company 2019s election of the fair-value option for liabilities associated with the citi-advised structured investment vehicles ( sivs ) , which were consolidated during the fourth quarter of 2007 .", "the change in fair values of the sivs 2019 liabilities reported in earnings was $ 2.6 billion for the year ended december 31 , 2008 .", "for these non-structured liabilities the aggregate fair value is $ 263 million lower than the aggregate unpaid principal balance as of december 31 , 2008 .", "for all other non-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 $ 97 million as of december 31 , 2008 while the aggregate fair value exceeded the aggregate unpaid principal by $ 112 million as of december 31 , 2007 .", "the change in fair value of these non-structured liabilities reported a gain of $ 1.2 billion for the year ended december 31 , 2008 .", "the change in fair value for these non-structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income .", "related interest expense continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement .", "certain mortgage loans citigroup has elected the fair-value option for certain purchased and originated prime fixed-rate and conforming adjustable-rate first mortgage loans held-for- sale .", "these loans are intended for sale or securitization and are hedged with derivative instruments .", "the company has elected the fair-value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplifications .", "the fair-value option was not elected for loans held-for-investment , as those loans are not hedged with derivative instruments .", "this election was effective for applicable instruments originated or purchased on or after september 1 , 2007 .", "the following table provides information about certain mortgage loans carried at fair value : in millions of dollars december 31 , december 31 , carrying amount reported on the consolidated balance sheet $ 4273 $ 6392 aggregate fair value in excess of unpaid principal balance $ 138 $ 136 balance on non-accrual loans or loans more than 90 days past due $ 9 $ 17 aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due $ 2 $ 2014 the changes in fair values of these mortgage loans is reported in other revenue in the company 2019s consolidated statement of income .", "the changes in fair value during the year ended december 31 , 2008 due to instrument- specific credit risk resulted in a $ 32 million loss .", "the change in fair value during 2007 due to instrument-specific credit risk was immaterial .", "related interest income continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement .", "items selected for fair-value accounting in accordance with sfas 155 and sfas 156 certain hybrid financial instruments the company has elected to apply fair-value accounting under sfas 155 for certain hybrid financial assets and liabilities whose performance is linked to risks other than interest rate , foreign exchange or inflation ( e.g. , equity , credit or commodity risks ) .", "in addition , the company has elected fair-value accounting under sfas 155 for residual interests retained from securitizing certain financial assets .", "the company has elected fair-value accounting for these instruments because these exposures are considered to be trading-related positions and , therefore , are managed on a fair-value basis .", "in addition , the accounting for these instruments is simplified under a fair-value approach as it eliminates the complicated operational requirements of bifurcating the embedded derivatives from the host contracts and accounting for each separately .", "the hybrid financial instruments are classified as trading account assets , loans , deposits , trading account liabilities ( for prepaid derivatives ) , short-term borrowings or long-term debt on the company 2019s consolidated balance sheet according to their legal form , while residual interests in certain securitizations are classified as trading account assets .", "for hybrid financial instruments for which fair-value accounting has been elected under sfas 155 and that are classified as long-term debt , the aggregate unpaid principal exceeds the aggregate fair value by $ 1.9 billion as of december 31 , 2008 , while the aggregate fair value exceeds the aggregate unpaid principal balance by $ 460 million as of december 31 , 2007 .", "the difference for those instruments classified as loans is immaterial .", "changes in fair value for hybrid financial instruments , which in most cases includes a component for accrued interest , are recorded in principal transactions in the company 2019s consolidated statement of income .", "interest accruals for certain hybrid instruments classified as trading assets are recorded separately from the change in fair value as interest revenue in the company 2019s consolidated statement of income .", "mortgage servicing rights the company accounts for mortgage servicing rights ( msrs ) at fair value in accordance with sfas 156 .", "fair value for msrs is determined using an option-adjusted spread valuation approach .", "this approach consists of projecting servicing cash flows under multiple interest-rate scenarios and discounting these cash flows using risk-adjusted rates .", "the model assumptions used in the valuation of msrs include mortgage prepayment speeds and discount rates .", "the fair value of msrs is primarily affected by changes in prepayments that result from shifts in mortgage interest rates .", "in managing this risk , the company hedges a significant portion of the values of its msrs through the use of interest-rate derivative contracts , forward- purchase commitments of mortgage-backed securities , and purchased securities classified as trading .", "see note 23 on page 175 for further discussions regarding the accounting and reporting of msrs .", "these msrs , which totaled $ 5.7 billion and $ 8.4 billion as of december 31 , 2008 and december 31 , 2007 , respectively , are classified as mortgage servicing rights on citigroup 2019s consolidated balance sheet .", "changes in fair value of msrs are recorded in commissions and fees in the company 2019s consolidated statement of income. ." ]

[ "the company has elected the fair-value option where the interest-rate risk of such liabilities is economically hedged with derivative contracts or the proceeds are used to purchase financial assets that will also be accounted for at fair value through earnings .", "the election has been made to mitigate accounting mismatches and to achieve operational simplifications .", "these positions are reported in short-term borrowings and long-term debt on the company 2019s consolidated balance sheet .", "the majority of these non-structured liabilities are a result of the company 2019s election of the fair-value option for liabilities associated with the citi-advised structured investment vehicles ( sivs ) , which were consolidated during the fourth quarter of 2007 .", "the change in fair values of the sivs 2019 liabilities reported in earnings was $ 2.6 billion for the year ended december 31 , 2008 .", "for these non-structured liabilities the aggregate fair value is $ 263 million lower than the aggregate unpaid principal balance as of december 31 , 2008 .", "for all other non-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 $ 97 million as of december 31 , 2008 while the aggregate fair value exceeded the aggregate unpaid principal by $ 112 million as of december 31 , 2007 .", "the change in fair value of these non-structured liabilities reported a gain of $ 1.2 billion for the year ended december 31 , 2008 .", "the change in fair value for these non-structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income .", "related interest expense continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement .", "certain mortgage loans citigroup has elected the fair-value option for certain purchased and originated prime fixed-rate and conforming adjustable-rate first mortgage loans held-for- sale .", "these loans are intended for sale or securitization and are hedged with derivative instruments .", "the company has elected the fair-value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplifications .", "the fair-value option was not elected for loans held-for-investment , as those loans are not hedged with derivative instruments .", "this election was effective for applicable instruments originated or purchased on or after september 1 , 2007 .", "the following table provides information about certain mortgage loans carried at fair value : in millions of dollars december 31 , december 31 , carrying amount reported on the consolidated balance sheet $ 4273 $ 6392 aggregate fair value in excess of unpaid principal balance $ 138 $ 136 balance on non-accrual loans or loans more than 90 days past due $ 9 $ 17 aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due $ 2 $ 2014 the changes in fair values of these mortgage loans is reported in other revenue in the company 2019s consolidated statement of income .", "the changes in fair value during the year ended december 31 , 2008 due to instrument- specific credit risk resulted in a $ 32 million loss .", "the change in fair value during 2007 due to instrument-specific credit risk was immaterial .", "related interest income continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement .", "items selected for fair-value accounting in accordance with sfas 155 and sfas 156 certain hybrid financial instruments the company has elected to apply fair-value accounting under sfas 155 for certain hybrid financial assets and liabilities whose performance is linked to risks other than interest rate , foreign exchange or inflation ( e.g. , equity , credit or commodity risks ) .", "in addition , the company has elected fair-value accounting under sfas 155 for residual interests retained from securitizing certain financial assets .", "the company has elected fair-value accounting for these instruments because these exposures are considered to be trading-related positions and , therefore , are managed on a fair-value basis .", "in addition , the accounting for these instruments is simplified under a fair-value approach as it eliminates the complicated operational requirements of bifurcating the embedded derivatives from the host contracts and accounting for each separately .", "the hybrid financial instruments are classified as trading account assets , loans , deposits , trading account liabilities ( for prepaid derivatives ) , short-term borrowings or long-term debt on the company 2019s consolidated balance sheet according to their legal form , while residual interests in certain securitizations are classified as trading account assets .", "for hybrid financial instruments for which fair-value accounting has been elected under sfas 155 and that are classified as long-term debt , the aggregate unpaid principal exceeds the aggregate fair value by $ 1.9 billion as of december 31 , 2008 , while the aggregate fair value exceeds the aggregate unpaid principal balance by $ 460 million as of december 31 , 2007 .", "the difference for those instruments classified as loans is immaterial .", "changes in fair value for hybrid financial instruments , which in most cases includes a component for accrued interest , are recorded in principal transactions in the company 2019s consolidated statement of income .", "interest accruals for certain hybrid instruments classified as trading assets are recorded separately from the change in fair value as interest revenue in the company 2019s consolidated statement of income .", "mortgage servicing rights the company accounts for mortgage servicing rights ( msrs ) at fair value in accordance with sfas 156 .", "fair value for msrs is determined using an option-adjusted spread valuation approach .", "this approach consists of projecting servicing cash flows under multiple interest-rate scenarios and discounting these cash flows using risk-adjusted rates .", "the model assumptions used in the valuation of msrs include mortgage prepayment speeds and discount rates .", "the fair value of msrs is primarily affected by changes in prepayments that result from shifts in mortgage interest rates .", "in managing this risk , the company hedges a significant portion of the values of its msrs through the use of interest-rate derivative contracts , forward- purchase commitments of mortgage-backed securities , and purchased securities classified as trading .", "see note 23 on page 175 for further discussions regarding the accounting and reporting of msrs .", "these msrs , which totaled $ 5.7 billion and $ 8.4 billion as of december 31 , 2008 and december 31 , 2007 , respectively , are classified as mortgage servicing rights on citigroup 2019s consolidated balance sheet .", "changes in fair value of msrs are recorded in commissions and fees in the company 2019s consolidated statement of income. ." ]

[ [ "<i>In millions of dollars</i>", "December 31, 2008", "December 31, 2007" ], [ "Carrying amount reported on the Consolidated Balance Sheet", "$4,273", "$6,392" ], [ "Aggregate fair value in excess of unpaid principal balance", "$138", "$136" ], [ "Balance on non-accrual loans or loans more than 90 days past due", "$9", "$17" ], [ "Aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days pastdue", "$2", "$—" ] ]

[ [ "in millions of dollars", "december 31 2008", "december 31 2007" ], [ "carrying amount reported on the consolidated balance sheet", "$ 4273", "$ 6392" ], [ "aggregate fair value in excess of unpaid principal balance", "$ 138", "$ 136" ], [ "balance on non-accrual loans or loans more than 90 days past due", "$ 9", "$ 17" ], [ "aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days pastdue", "$ 2", "$ 2014" ] ]

[]

[ "credit commitments and lines of credit the table below summarizes citigroup 2019s credit commitments as of december 31 , 2009 and december 31 , 2008 : in millions of dollars u.s .", "outside of december 31 , december 31 ." ]

[ "the majority of unused commitments are contingent upon customers 2019 maintaining specific credit standards .", "commercial commitments generally have floating interest rates and fixed expiration dates and may require payment of fees .", "such fees ( net of certain direct costs ) are deferred and , upon exercise of the commitment , amortized over the life of the loan or , if exercise is deemed remote , amortized over the commitment period .", "commercial and similar letters of credit a commercial letter of credit is an instrument by which citigroup substitutes its credit for that of a customer to enable the customer to finance the purchase of goods or to incur other commitments .", "citigroup issues a letter on behalf of its client to a supplier and agrees to pay the supplier upon presentation of documentary evidence that the supplier has performed in accordance with the terms of the letter of credit .", "when a letter of credit is drawn , the customer is then required to reimburse citigroup .", "one- to four-family residential mortgages a one- to four-family residential mortgage commitment is a written confirmation from citigroup to a seller of a property that the bank will advance the specified sums enabling the buyer to complete the purchase .", "revolving open-end loans secured by one- to four-family residential properties revolving open-end loans secured by one- to four-family residential properties are essentially home equity lines of credit .", "a home equity line of credit is a loan secured by a primary residence or second home to the extent of the excess of fair market value over the debt outstanding for the first mortgage .", "commercial real estate , construction and land development commercial real estate , construction and land development include unused portions of commitments to extend credit for the purpose of financing commercial and multifamily residential properties as well as land development projects .", "both secured-by-real-estate and unsecured commitments are included in this line , as well as undistributed loan proceeds , where there is an obligation to advance for construction progress payments .", "however , this line only includes those extensions of credit that , once funded , will be classified as total loans , net on the consolidated balance sheet .", "credit card lines citigroup provides credit to customers by issuing credit cards .", "the credit card lines are unconditionally cancellable by the issuer .", "commercial and other consumer loan commitments commercial and other consumer loan commitments include overdraft and liquidity facilities , as well as commercial commitments to make or purchase loans , to purchase third-party receivables , to provide note issuance or revolving underwriting facilities and to invest in the form of equity .", "amounts include $ 126 billion and $ 170 billion with an original maturity of less than one year at december 31 , 2009 and december 31 , 2008 , respectively .", "in addition , included in this line item are highly leveraged financing commitments , which are agreements that provide funding to a borrower with higher levels of debt ( measured by the ratio of debt capital to equity capital of the borrower ) than is generally considered normal for other companies .", "this type of financing is commonly employed in corporate acquisitions , management buy-outs and similar transactions. ." ]

[ [ "In millions of dollars", "U.S.", "Outside of U.S.", "December 31, 2009", "December 31, 2008" ], [ "Commercial and similar letters of credit", "$1,321", "$5,890", "$7,211", "$8,215" ], [ "One- to four-family residential mortgages", "788", "282", "1,070", "937" ], [ "Revolving open-end loans secured by one- to four-family residential properties", "20,914", "3,002", "23,916", "25,212" ], [ "Commercial real estate, construction and land development", "1,185", "519", "1,704", "2,702" ], [ "Credit card lines", "649,625", "135,870", "785,495", "1,002,437" ], [ "Commercial and other consumer loan commitments", "167,510", "89,832", "257,342", "309,997" ], [ "Total", "$841,343", "$235,395", "$1,076,738", "$1,349,500" ] ]

[ [ "in millions of dollars", "u.s .", "outside of u.s .", "december 31 2009", "december 31 2008" ], [ "commercial and similar letters of credit", "$ 1321", "$ 5890", "$ 7211", "$ 8215" ], [ "one- to four-family residential mortgages", "788", "282", "1070", "937" ], [ "revolving open-end loans secured by one- to four-family residential properties", "20914", "3002", "23916", "25212" ], [ "commercial real estate construction and land development", "1185", "519", "1704", "2702" ], [ "credit card lines", "649625", "135870", "785495", "1002437" ], [ "commercial and other consumer loan commitments", "167510", "89832", "257342", "309997" ], [ "total", "$ 841343", "$ 235395", "$ 1076738", "$ 1349500" ] ]

[ { "arg1": "785495", "arg2": "1002437", "op": "minus2-1", "res": "-216942" }, { "arg1": "#0", "arg2": "1002437", "op": "divide2-2", "res": "21.6%" } ]

[ "period .", "the discount reflects our incremental borrowing rate , which matches the lifetime of the liability .", "significant changes in the discount rate selected or the estimations of sublease income in the case of leases could impact the amounts recorded .", "other associated costs with restructuring activities we recognize other costs associated with restructuring activities as they are incurred , including moving costs and consulting and legal fees .", "pensions we sponsor defined benefit pension plans throughout the world .", "our most significant plans are located in the u.s. , the u.k. , the netherlands and canada .", "our significant u.s. , u.k .", "and canadian pension plans are closed to new entrants .", "we have ceased crediting future benefits relating to salary and service for our u.s. , u.k .", "and canadian plans .", "recognition of gains and losses and prior service certain changes in the value of the obligation and in the value of plan assets , which may occur due to various factors such as changes in the discount rate and actuarial assumptions , actual demographic experience and/or plan asset performance are not immediately recognized in net income .", "such changes are recognized in other comprehensive income and are amortized into net income as part of the net periodic benefit cost .", "unrecognized gains and losses that have been deferred in other comprehensive income , as previously described , are amortized into compensation and benefits expense as a component of periodic pension expense based on the average expected future service of active employees for our plans in the netherlands and canada , or the average life expectancy of the u.s .", "and u.k .", "plan members .", "after the effective date of the plan amendments to cease crediting future benefits relating to service , unrecognized gains and losses are also be based on the average life expectancy of members in the canadian plans .", "we amortize any prior service expense or credits that arise as a result of plan changes over a period consistent with the amortization of gains and losses .", "as of december 31 , 2013 , our pension plans have deferred losses that have not yet been recognized through income in the consolidated financial statements .", "we amortize unrecognized actuarial losses outside of a corridor , which is defined as 10% ( 10 % ) of the greater of market-related value of plan assets or projected benefit obligation .", "to the extent not offset by future gains , incremental amortization as calculated above will continue to affect future pension expense similarly until fully amortized .", "the following table discloses our combined experience loss , the number of years over which we are amortizing the experience loss , and the estimated 2014 amortization of loss by country ( amounts in millions ) : ." ]

[ "the unrecognized prior service cost at december 31 , 2013 was $ 27 million in the u.k .", "and other plans .", "for the u.s .", "pension plans we use a market-related valuation of assets approach to determine the expected return on assets , which is a component of net periodic benefit cost recognized in the consolidated statements of income .", "this approach recognizes 20% ( 20 % ) of any gains or losses in the current year's value of market-related assets , with the remaining 80% ( 80 % ) spread over the next four years .", "as this approach recognizes gains or losses over a five-year period , the future value of assets and therefore , our net periodic benefit cost will be impacted as previously deferred gains or losses are recorded .", "as of december 31 , 2013 , the market-related value of assets was $ 1.8 billion .", "we do not use the market-related valuation approach to determine the funded status of the u.s .", "plans recorded in the consolidated statements of financial position .", "instead , we record and present the funded status in the consolidated statements of financial position based on the fair value of the plan assets .", "as of december 31 , 2013 , the fair value of plan assets was $ 1.9 billion .", "our non-u.s .", "plans use fair value to determine expected return on assets. ." ]

[ [ "", "U.K.", "U.S.", "Other" ], [ "Combined experience loss", "$2,012", "$1,219", "$402" ], [ "Amortization period (in years)", "29", "26", "11 - 23" ], [ "Estimated 2014 amortization of loss", "$53", "$44", "$10" ] ]

[ [ "", "u.k .", "u.s .", "other" ], [ "combined experience loss", "$ 2012", "$ 1219", "$ 402" ], [ "amortization period ( in years )", "29", "26", "11 - 23" ], [ "estimated 2014 amortization of loss", "$ 53", "$ 44", "$ 10" ] ]

[]

[ "2017 form 10-k | 115 and $ 1088 million , respectively , were primarily comprised of loans to dealers , and the spc 2019s liabilities of $ 1106 million and $ 1087 million , respectively , were primarily comprised of commercial paper .", "the assets of the spc are not available to pay cat financial 2019s creditors .", "cat financial may be obligated to perform under the guarantee if the spc experiences losses .", "no loss has been experienced or is anticipated under this loan purchase agreement .", "cat financial is party to agreements in the normal course of business with selected customers and caterpillar dealers in which they commit to provide a set dollar amount of financing on a pre- approved basis .", "they also provide lines of credit to certain customers and caterpillar dealers , of which a portion remains unused as of the end of the period .", "commitments and lines of credit generally have fixed expiration dates or other termination clauses .", "it has been cat financial 2019s experience that not all commitments and lines of credit will be used .", "management applies the same credit policies when making commitments and granting lines of credit as it does for any other financing .", "cat financial does not require collateral for these commitments/ lines , but if credit is extended , collateral may be required upon funding .", "the amount of the unused commitments and lines of credit for dealers as of december 31 , 2017 and 2016 was $ 10993 million and $ 12775 million , respectively .", "the amount of the unused commitments and lines of credit for customers as of december 31 , 2017 and 2016 was $ 3092 million and $ 3340 million , respectively .", "our product warranty liability is determined by applying historical claim rate experience to the current field population and dealer inventory .", "generally , historical claim rates are based on actual warranty experience for each product by machine model/engine size by customer or dealer location ( inside or outside north america ) .", "specific rates are developed for each product shipment month and are updated monthly based on actual warranty claim experience. ." ]

[ "22 .", "environmental and legal matters the company is regulated by federal , state and international environmental laws governing our use , transport and disposal of substances and control of emissions .", "in addition to governing our manufacturing and other operations , these laws often impact the development of our products , including , but not limited to , required compliance with air emissions standards applicable to internal combustion engines .", "we have made , and will continue to make , significant research and development and capital expenditures to comply with these emissions standards .", "we are engaged in remedial activities at a number of locations , often with other companies , pursuant to federal and state laws .", "when it is probable we will pay remedial costs at a site , and those costs can be reasonably estimated , the investigation , remediation , and operating and maintenance costs are accrued against our earnings .", "costs are accrued based on consideration of currently available data and information with respect to each individual site , including available technologies , current applicable laws and regulations , and prior remediation experience .", "where no amount within a range of estimates is more likely , we accrue the minimum .", "where multiple potentially responsible parties are involved , we consider our proportionate share of the probable costs .", "in formulating the estimate of probable costs , we do not consider amounts expected to be recovered from insurance companies or others .", "we reassess these accrued amounts on a quarterly basis .", "the amount recorded for environmental remediation is not material and is included in accrued expenses .", "we believe there is no more than a remote chance that a material amount for remedial activities at any individual site , or at all the sites in the aggregate , will be required .", "on january 7 , 2015 , the company received a grand jury subpoena from the u.s .", "district court for the central district of illinois .", "the subpoena requests documents and information from the company relating to , among other things , financial information concerning u.s .", "and non-u.s .", "caterpillar subsidiaries ( including undistributed profits of non-u.s .", "subsidiaries and the movement of cash among u.s .", "and non-u.s .", "subsidiaries ) .", "the company has received additional subpoenas relating to this investigation requesting additional documents and information relating to , among other things , the purchase and resale of replacement parts by caterpillar inc .", "and non-u.s .", "caterpillar subsidiaries , dividend distributions of certain non-u.s .", "caterpillar subsidiaries , and caterpillar sarl and related structures .", "on march 2-3 , 2017 , agents with the department of commerce , the federal deposit insurance corporation and the internal revenue service executed search and seizure warrants at three facilities of the company in the peoria , illinois area , including its former corporate headquarters .", "the warrants identify , and agents seized , documents and information related to , among other things , the export of products from the united states , the movement of products between the united states and switzerland , the relationship between caterpillar inc .", "and caterpillar sarl , and sales outside the united states .", "it is the company 2019s understanding that the warrants , which concern both tax and export activities , are related to the ongoing grand jury investigation .", "the company is continuing to cooperate with this investigation .", "the company is unable to predict the outcome or reasonably estimate any potential loss ; however , we currently believe that this matter will not have a material adverse effect on the company 2019s consolidated results of operations , financial position or liquidity .", "on march 20 , 2014 , brazil 2019s administrative council for economic defense ( cade ) published a technical opinion which named 18 companies and over 100 individuals as defendants , including two subsidiaries of caterpillar inc. , mge - equipamentos e servi e7os ferrovi e1rios ltda .", "( mge ) and caterpillar brasil ltda .", "the publication of the technical opinion opened cade 2019s official administrative investigation into allegations that the defendants participated in anticompetitive bid activity for the construction and maintenance of metro and train networks in brazil .", "while companies cannot be ." ]

[ [ "(Millions of dollars)", "2017", "2016" ], [ "Warranty liability, January 1", "$1,258", "$1,354" ], [ "Reduction in liability (payments)", "(860)", "(909)" ], [ "Increase in liability (new warranties)", "1,021", "813" ], [ "Warranty liability, December 31", "$1,419", "$1,258" ] ]

[ [ "( millions of dollars )", "2017", "2016" ], [ "warranty liability january 1", "$ 1258", "$ 1354" ], [ "reduction in liability ( payments )", "-860 ( 860 )", "-909 ( 909 )" ], [ "increase in liability ( new warranties )", "1021", "813" ], [ "warranty liability december 31", "$ 1419", "$ 1258" ] ]

[ { "arg1": "10993", "arg2": "12775", "op": "minus1-1", "res": "-1782" }, { "arg1": "#0", "arg2": "12775", "op": "divide1-2", "res": "-14%" } ]

[ "2022 net derivative losses of $ 13 million .", "review by segment general we serve clients through the following segments : 2022 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 our global distribution network .", "2022 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 .", "risk solutions ." ]

[ "the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business .", "the economic activity that impacts property and casualty insurance is described as exposure units , and is closely correlated with employment levels , corporate revenue and asset values .", "during 2011 we began to see some improvement in pricing ; however , we would still consider this to be a 2018 2018soft market , 2019 2019 which began in 2007 .", "in a soft market , 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 .", "in 2011 , pricing showed signs of stabilization and improvement in both our retail and reinsurance brokerage product lines and we expect this trend to slowly continue into 2012 .", "additionally , beginning in late 2008 and continuing through 2011 , 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 .", "weak global economic conditions have reduced our customers 2019 demand for our brokerage products , which have had a negative impact on our operational results .", "risk solutions generated approximately 60% ( 60 % ) of our consolidated total revenues in 2011 .", "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 , health care providers , and non-profit groups , among others ; provide affinity products for professional liability , life , disability ." ]

[ [ "Years ended December 31,", "2011", "2010", "2009" ], [ "Revenue", "$6,817", "$6,423", "$6,305" ], [ "Operating income", "1,314", "1,194", "900" ], [ "Operating margin", "19.3%", "18.6%", "14.3%" ] ]

[ [ "years ended december 31,", "2011", "2010", "2009" ], [ "revenue", "$ 6817", "$ 6423", "$ 6305" ], [ "operating income", "1314", "1194", "900" ], [ "operating margin", "19.3% ( 19.3 % )", "18.6% ( 18.6 % )", "14.3% ( 14.3 % )" ] ]

[ { "arg1": "6817", "arg2": "6423", "op": "minus1-1", "res": "394" }, { "arg1": "#0", "arg2": "6423", "op": "divide1-2", "res": "6.1%" } ]

[ "the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for 2012 , 2011 , and 2010 , is as follows ( in millions ) : ." ]

[ "the company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes .", "as of september 29 , 2012 and september 24 , 2011 , the total amount of gross interest and penalties accrued was $ 401 million and $ 261 million , respectively , which is classified as non-current liabilities in the consolidated balance sheets .", "in connection with tax matters , the company recognized interest expense in 2012 and 2011 of $ 140 million and $ 14 million , respectively , and in 2010 the company recognized an interest benefit of $ 43 million .", "the company is subject to taxation and files income tax returns in the u.s .", "federal jurisdiction and in many state and foreign jurisdictions .", "for u.s .", "federal income tax purposes , all years prior to 2004 are closed .", "the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments .", "the company has contested certain of these adjustments through the irs appeals office .", "the irs is currently examining the years 2007 through 2009 .", "in addition , the company is also subject to audits by state , local and foreign tax authorities .", "in major states and major foreign jurisdictions , the years subsequent to 1989 and 2002 , respectively , generally remain open and could be subject to examination by the taxing authorities .", "management believes that an adequate provision has been made for any adjustments that may result from tax examinations .", "however , the outcome of tax audits cannot be predicted with certainty .", "if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs .", "although timing of the resolution and/or closure of audits is not certain , the company believes it is reasonably possible that tax audit resolutions could reduce its unrecognized tax benefits by between $ 120 million and $ 170 million in the next 12 months .", "note 6 2013 shareholders 2019 equity and share-based compensation preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding .", "under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock .", "dividend and stock repurchase program in 2012 , the board of directors of the company approved a dividend policy pursuant to which it plans to make , subject to subsequent declaration , quarterly dividends of $ 2.65 per share .", "on july 24 , 2012 , the board of directors declared a dividend of $ 2.65 per share to shareholders of record as of the close of business on august 13 , 2012 .", "the company paid $ 2.5 billion in conjunction with this dividend on august 16 , 2012 .", "no dividends were declared in the first three quarters of 2012 or in 2011 and 2010. ." ]

[ [ "", "2012", "2011", "2010" ], [ "Beginning Balance", "$1,375", "$943", "$971" ], [ "Increases related to tax positions taken during a prior year", "340", "49", "61" ], [ "Decreases related to tax positions taken during a prior year", "(107)", "(39)", "(224)" ], [ "Increases related to tax positions taken during the current year", "467", "425", "240" ], [ "Decreases related to settlements with taxing authorities", "(3)", "0", "(102)" ], [ "Decreases related to expiration of statute of limitations", "(10)", "(3)", "(3)" ], [ "Ending Balance", "$2,062", "$1,375", "$943" ] ]

[ [ "", "2012", "2011", "2010" ], [ "beginning balance", "$ 1375", "$ 943", "$ 971" ], [ "increases related to tax positions taken during a prior year", "340", "49", "61" ], [ "decreases related to tax positions taken during a prior year", "-107 ( 107 )", "-39 ( 39 )", "-224 ( 224 )" ], [ "increases related to tax positions taken during the current year", "467", "425", "240" ], [ "decreases related to settlements with taxing authorities", "-3 ( 3 )", "0", "-102 ( 102 )" ], [ "decreases related to expiration of statute of limitations", "-10 ( 10 )", "-3 ( 3 )", "-3 ( 3 )" ], [ "ending balance", "$ 2062", "$ 1375", "$ 943" ] ]

[ { "arg1": "1375", "arg2": "943", "op": "minus1-1", "res": "432" }, { "arg1": "#0", "arg2": "943", "op": "divide1-2", "res": "46%" } ]

[ "s c h e d u l e i v ( continued ) ace limited and subsidiaries s u p p l e m e n t a l i n f o r m a t i o n c o n c e r n i n g r e i n s u r a n c e premiums earned for the years ended december 31 , 2008 , 2007 , and 2006 ( in millions of u.s .", "dollars ) direct amount ceded to companies assumed from other companies net amount percentage of amount assumed to ." ]

[ "." ]

[ [ "For the years ended December 31, 2008, 2007, and 2006(in millions of U.S. dollars)", "Direct Amount", "Ceded To Other Companies", "Assumed From Other Companies", "Net Amount", "Percentage of Amount Assumed to Net" ], [ "2008", "$16,087", "$6,144", "$3,260", "$13,203", "25%" ], [ "2007", "$14,673", "$5,834", "$3,458", "$12,297", "28%" ], [ "2006", "$13,562", "$5,198", "$3,461", "$11,825", "29%" ] ]

[ [ "for the years ended december 31 2008 2007 and 2006 ( in millions of u.s . dollars )", "direct amount", "ceded to other companies", "assumed from other companies", "net amount", "percentage of amount assumed to net" ], [ "2008", "$ 16087", "$ 6144", "$ 3260", "$ 13203", "25% ( 25 % )" ], [ "2007", "$ 14673", "$ 5834", "$ 3458", "$ 12297", "28% ( 28 % )" ], [ "2006", "$ 13562", "$ 5198", "$ 3461", "$ 11825", "29% ( 29 % )" ] ]

[ { "arg1": "13203", "arg2": "12297", "op": "minus1-1", "res": "906" }, { "arg1": "#0", "arg2": "12297", "op": "divide1-2", "res": "7.4%" } ]

[ "freesheet paper were higher in russia , but lower in europe reflecting weak economic conditions and market demand .", "average sales price realizations for pulp decreased .", "lower input costs for wood and purchased fiber were partially offset by higher costs for energy , chemicals and packaging .", "freight costs were also higher .", "planned maintenance downtime costs were higher due to executing a significant once-every-ten-years maintenance outage plus the regularly scheduled 18-month outage at the saillat mill while outage costs in russia and poland were lower .", "manufacturing operating costs were favor- entering 2013 , sales volumes in the first quarter are expected to be seasonally weaker in russia , but about flat in europe .", "average sales price realizations for uncoated freesheet paper are expected to decrease in europe , but increase in russia .", "input costs should be higher in russia , especially for wood and energy , but be slightly lower in europe .", "no maintenance outages are scheduled for the first quarter .", "ind ian papers includes the results of andhra pradesh paper mills ( appm ) of which a 75% ( 75 % ) interest was acquired on october 14 , 2011 .", "net sales were $ 185 million in 2012 and $ 35 million in 2011 .", "operat- ing profits were a loss of $ 16 million in 2012 and a loss of $ 3 million in 2011 .", "asian pr int ing papers net sales were $ 85 mil- lion in 2012 , $ 75 million in 2011 and $ 80 million in 2010 .", "operating profits were improved from break- even in past years to $ 1 million in 2012 .", "u.s .", "pulp net sales were $ 725 million in 2012 compared with $ 725 million in 2011 and $ 715 million in 2010 .", "operating profits were a loss of $ 59 million in 2012 compared with gains of $ 87 million in 2011 and $ 107 million in 2010 .", "sales volumes in 2012 increased from 2011 primarily due to the start-up of pulp production at the franklin mill in the third quarter of 2012 .", "average sales price realizations were significantly lower for both fluff pulp and market pulp .", "input costs were lower , primarily for wood and energy .", "freight costs were slightly lower .", "mill operating costs were unfavorable primarily due to costs associated with the start-up of the franklin mill .", "planned maintenance downtime costs were lower .", "in the first quarter of 2013 , sales volumes are expected to be flat with the fourth quarter of 2012 .", "average sales price realizations are expected to improve reflecting the realization of sales price increases for paper and tissue pulp that were announced in the fourth quarter of 2012 .", "input costs should be flat .", "planned maintenance downtime costs should be about $ 9 million higher than in the fourth quarter of 2012 .", "manufacturing costs related to the franklin mill should be lower as we continue to improve operations .", "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 , freight costs , manufacturing efficiency and product mix .", "consumer packaging net sales in 2012 decreased 15% ( 15 % ) from 2011 and 7% ( 7 % ) from 2010 .", "operating profits increased 64% ( 64 % ) from 2011 and 29% ( 29 % ) from 2010 .", "net sales and operating profits include the shorewood business in 2011 and 2010 .", "exclud- ing asset impairment and other charges associated with the sale of the shorewood business , and facility closure costs , 2012 operating profits were 27% ( 27 % ) lower than in 2011 , but 23% ( 23 % ) higher than in 2010 .", "benefits from lower raw material costs ( $ 22 million ) , lower maintenance outage costs ( $ 5 million ) and other items ( $ 2 million ) were more than offset by lower sales price realizations and an unfavorable product mix ( $ 66 million ) , lower sales volumes and increased market-related downtime ( $ 22 million ) , and higher operating costs ( $ 40 million ) .", "in addition , operating profits in 2012 included a gain of $ 3 million related to the sale of the shorewood business while operating profits in 2011 included a $ 129 million fixed asset impairment charge for the north ameri- can shorewood business and $ 72 million for other charges associated with the sale of the shorewood business .", "consumer packaging ." ]

[ "north american consumer packaging net sales were $ 2.0 billion in 2012 compared with $ 2.5 billion in 2011 and $ 2.4 billion in 2010 .", "operating profits were $ 165 million ( $ 162 million excluding a gain related to the sale of the shorewood business ) in 2012 compared with $ 35 million ( $ 236 million excluding asset impairment and other charges asso- ciated with the sale of the shorewood business ) in 2011 and $ 97 million ( $ 105 million excluding facility closure costs ) in 2010 .", "coated paperboard sales volumes in 2012 were lower than in 2011 reflecting weaker market demand .", "average sales price realizations were lower , primar- ily for folding carton board .", "input costs for wood increased , but were partially offset by lower costs for chemicals and energy .", "planned maintenance down- time costs were slightly lower .", "market-related down- time was about 113000 tons in 2012 compared with about 38000 tons in 2011. ." ]

[ [ "In millions", "2012", "2011", "2010" ], [ "Sales", "$3,170", "$3,710", "$3,400" ], [ "Operating Profit", "268", "163", "207" ] ]

[ [ "in millions", "2012", "2011", "2010" ], [ "sales", "$ 3170", "$ 3710", "$ 3400" ], [ "operating profit", "268", "163", "207" ] ]

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[ "u.s .", "equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .", "for u.s .", "equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker or investment manager .", "these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager .", "commingled equity funds categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .", "for commingled equity funds not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker or investment manager .", "these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor .", "fixed income investments categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g. , interest rates and yield curves observable at commonly quoted intervals and credit spreads ) , bids provided by brokers or dealers or quoted prices of securities with similar characteristics .", "fixed income investments are categorized at level 3 when valuations using observable inputs are unavailable .", "the trustee obtains pricing based on indicative quotes or bid evaluations from vendors , brokers or the investment manager .", "commodities are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the certain commingled equity funds , consisting of equity mutual funds , are valued using the nav.aa thenavaa valuations are based on the underlying investments and typically redeemable within 90 days .", "private equity funds consist of partnership and co-investment funds .", "the navaa is based on valuation models of the underlying securities , which includes unobservable inputs that cannot be corroborated using verifiable observable market data .", "these funds typically have redemption periods between eight and 12 years .", "real estate funds consist of partnerships , most of which are closed-end funds , for which the navaa is based on valuationmodels and periodic appraisals .", "these funds typically have redemption periods between eight and 10 years .", "hedge funds consist of direct hedge funds forwhich thenavaa is generally based on the valuation of the underlying investments .", "redemptions in hedge funds are based on the specific terms of each fund , and generally range from a minimum of one month to several months .", "contributions and expected benefit payments the funding of our qualified defined benefit pension plans is determined in accordance with erisa , as amended by the ppa , and in a manner consistent with cas and internal revenue code rules .", "there were no material contributions to our qualified defined benefit pension plans during 2017 .", "we will make contributions of $ 5.0 billion to our qualified defined benefit pension plans in 2018 , including required and discretionary contributions.as a result of these contributions , we do not expect any material qualified defined benefit cash funding will be required until 2021.we plan to fund these contributions using a mix of cash on hand and commercial paper .", "while we do not anticipate a need to do so , our capital structure and resources would allow us to issue new debt if circumstances change .", "the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2017 ( in millions ) : ." ]

[ "defined contribution plans wemaintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .", "under the provisions of our 401 ( k ) plans , wematchmost employees 2019 eligible contributions at rates specified in the plan documents .", "our contributions were $ 613 million in 2017 , $ 617 million in 2016 and $ 393 million in 2015 , the majority of which were funded using our common stock .", "our defined contribution plans held approximately 35.5 million and 36.9 million shares of our common stock as of december 31 , 2017 and 2016. ." ]

[ [ "", "2018", "2019", "2020", "2021", "2022", "2023 – 2027" ], [ "Qualified defined benefit pension plans", "$2,450", "$2,480", "$2,560", "$2,630", "$2,700", "$14,200" ], [ "Retiree medical and life insurance plans", "180", "180", "180", "180", "180", "820" ] ]

[ [ "", "2018", "2019", "2020", "2021", "2022", "2023 2013 2027" ], [ "qualified defined benefit pension plans", "$ 2450", "$ 2480", "$ 2560", "$ 2630", "$ 2700", "$ 14200" ], [ "retiree medical and life insurance plans", "180", "180", "180", "180", "180", "820" ] ]

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[ "the goldman sachs group , inc .", "and subsidiaries management 2019s discussion and analysis net revenues the table below presents net revenues by line item. ." ]

[ "in the table above : 2030 investment banking consists of revenues ( excluding net interest ) from financial advisory and underwriting assignments , as well as derivative transactions directly related to these assignments .", "these activities are included in our investment banking segment .", "2030 investment management consists of revenues ( excluding net interest ) from providing investment management services to a diverse set of clients , as well as wealth advisory services and certain transaction services to high-net-worth individuals and families .", "these activities are included in our investment management segment .", "2030 commissions and fees consists of revenues from executing and clearing client transactions on major stock , options and futures exchanges worldwide , as well as over-the-counter ( otc ) transactions .", "these activities are included in our institutional client services and investment management segments .", "2030 market making consists of revenues ( excluding net interest ) from client execution activities related to making markets in interest rate products , credit products , mortgages , currencies , commodities and equity products .", "these activities are included in our institutional client services segment .", "2030 other principal transactions consists of revenues ( excluding net interest ) from our investing activities and the origination of loans to provide financing to clients .", "in addition , other principal transactions includes revenues related to our consolidated investments .", "these activities are included in our investing & lending segment .", "provision for credit losses , previously reported in other principal transactions revenues , is now reported as a separate line item in the consolidated statements of earnings .", "previously reported amounts have been conformed to the current presentation .", "operating environment .", "during 2018 , our market- making activities reflected generally higher levels of volatility and improved client activity , compared with a low volatility environment in 2017 .", "in investment banking , industry-wide mergers and acquisitions volumes increased compared with 2017 , while industry-wide underwriting transactions decreased .", "our other principal transactions revenues benefited from company-specific events , including sales , and strong corporate performance , while investments in public equities reflected losses , as global equity prices generally decreased in 2018 , particularly towards the end of the year .", "in investment management , our assets under supervision increased reflecting net inflows in liquidity products , fixed income assets and equity assets , partially offset by depreciation in client assets , primarily in equity assets .", "if market-making or investment banking activity levels decline , or assets under supervision decline , or asset prices continue to decline , net revenues would likely be negatively impacted .", "see 201csegment operating results 201d for further information about the operating environment and material trends and uncertainties that may impact our results of operations .", "during 2017 , generally higher asset prices and tighter credit spreads were supportive of industry-wide underwriting activities , investment management performance and other principal transactions .", "however , low levels of volatility in equity , fixed income , currency and commodity markets continued to negatively affect our market-making activities .", "2018 versus 2017 net revenues in the consolidated statements of earnings were $ 36.62 billion for 2018 , 12% ( 12 % ) higher than 2017 , primarily due to significantly higher market making revenues and net interest income , as well as higher investment management revenues and investment banking revenues .", "non-interest revenues .", "investment banking revenues in the consolidated statements of earnings were $ 7.86 billion for 2018 , 7% ( 7 % ) higher than 2017 .", "revenues in financial advisory were higher , reflecting an increase in industry-wide completed mergers and acquisitions volumes .", "revenues in underwriting were slightly higher , due to significantly higher revenues in equity underwriting , driven by initial public offerings , partially offset by lower revenues in debt underwriting , reflecting a decline in leveraged finance activity .", "investment management revenues in the consolidated statements of earnings were $ 6.51 billion for 2018 , 12% ( 12 % ) higher than 2017 , primarily due to significantly higher incentive fees , as a result of harvesting .", "management and other fees were also higher , reflecting higher average assets under supervision and the impact of the recently adopted revenue recognition standard , partially offset by shifts in the mix of client assets and strategies .", "see note 3 to the consolidated financial statements for further information about asu no .", "2014-09 , 201crevenue from contracts with customers ( topic 606 ) . 201d 52 goldman sachs 2018 form 10-k ." ]

[ [ "", "Year Ended December" ], [ "<i>$ in millions</i>", "2018", "2017", "2016" ], [ "Investment banking", "$ 7,862", "$ 7,371", "$ 6,273" ], [ "Investment management", "6,514", "5,803", "5,407" ], [ "Commissions and fees", "3,199", "3,051", "3,208" ], [ "Market making", "9,451", "7,660", "9,933" ], [ "Other principal transactions", "5,823", "5,913", "3,382" ], [ "Totalnon-interestrevenues", "32,849", "29,798", "28,203" ], [ "Interest income", "19,679", "13,113", "9,691" ], [ "Interest expense", "15,912", "10,181", "7,104" ], [ "Net interest income", "3,767", "2,932", "2,587" ], [ "Total net revenues", "$36,616", "$32,730", "$30,790" ] ]

[ [ "$ in millions", "year ended december 2018", "year ended december 2017", "year ended december 2016" ], [ "investment banking", "$ 7862", "$ 7371", "$ 6273" ], [ "investment management", "6514", "5803", "5407" ], [ "commissions and fees", "3199", "3051", "3208" ], [ "market making", "9451", "7660", "9933" ], [ "other principal transactions", "5823", "5913", "3382" ], [ "totalnon-interestrevenues", "32849", "29798", "28203" ], [ "interest income", "19679", "13113", "9691" ], [ "interest expense", "15912", "10181", "7104" ], [ "net interest income", "3767", "2932", "2587" ], [ "total net revenues", "$ 36616", "$ 32730", "$ 30790" ] ]

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[ "." ]

[ "the black-scholes option valuation model was developed for use in estimating the fair value of traded options which have no vesting restrictions and are fully transferable .", "in addition , option valuation models require the input of highly subjective assumptions , including the expected stock price volatility .", "because the company 2019s employee stock options have characteristics significantly different from those of traded options , and because changes in the subjective input assumptions can materially affect the fair value estimate , in management 2019s opinion , the existing models do not necessarily provide a reliable single measure of the fair value of its employee stock options .", "the fair value of the rsus was determined based on the market value at the date of grant .", "the total fair value of awards vested during 2008 , 2007 , and 2006 was $ 35384 , $ 17840 , and $ 9413 , respectively .", "the total stock based compensation expense calculated using the black-scholes option valuation model in 2008 , 2007 , and 2006 was $ 38872 , $ 22164 , and $ 11913 , respectively.the aggregate intrinsic values of options outstanding and exercisable at december 27 , 2008 were $ 8.2 million and $ 8.2 million , respectively .", "the aggregate intrinsic value of options exercised during the year ended december 27 , 2008 was $ 0.6 million .", "aggregate intrinsic value represents the positive difference between the company 2019s closing stock price on the last trading day of the fiscal period , which was $ 19.39 on december 27 , 2008 , and the exercise price multiplied by the number of options exercised .", "as of december 27 , 2008 , there was $ 141.7 million of total unrecognized compensation cost related to unvested share-based compensation awards granted to employees under the stock compensation plans .", "that cost is expected to be recognized over a period of five years .", "employee stock purchase plan the shareholders also adopted an employee stock purchase plan ( espp ) .", "up to 2000000 shares of common stock have been reserved for the espp .", "shares will be offered to employees at a price equal to the lesser of 85% ( 85 % ) of the fair market value of the stock on the date of purchase or 85% ( 85 % ) of the fair market value on the enrollment date .", "the espp is intended to qualify as an 201cemployee stock purchase plan 201d under section 423 of the internal revenue code .", "during 2008 , 2007 , and 2006 , 362902 , 120230 , and 124693 shares , respectively were purchased under the plan for a total purchase price of $ 8782 , $ 5730 , and $ 3569 , respectively .", "at december 27 , 2008 , approximately 663679 shares were available for future issuance .", "10 .", "earnings per share the following table sets forth the computation of basic and diluted net income per share: ." ]

[ [ "", "2008", "2007", "2006" ], [ "Weighted average fair value of options granted", "$18.47", "$33.81", "$20.01" ], [ "Expected volatility", "0.3845", "0.3677", "0.3534" ], [ "Dividend yield", "3.75%", "0.76%", "1.00%" ], [ "Expected life of options in years", "6.0", "6.0", "6.3" ], [ "Risk-free interest rate", "2%", "4%", "5%" ] ]

[ [ "", "2008", "2007", "2006" ], [ "weighted average fair value of options granted", "$ 18.47", "$ 33.81", "$ 20.01" ], [ "expected volatility", "0.3845", "0.3677", "0.3534" ], [ "dividend yield", "3.75% ( 3.75 % )", "0.76% ( 0.76 % )", "1.00% ( 1.00 % )" ], [ "expected life of options in years", "6.0", "6.0", "6.3" ], [ "risk-free interest rate", "2% ( 2 % )", "4% ( 4 % )", "5% ( 5 % )" ] ]

[]

[ "note 3 .", "business combinations purchase combinations .", "during the fiscal years presented , the company made a number of purchase acquisitions .", "for each acquisition , the excess of the purchase price over the estimated value of the net tangible assets acquired was allocated to various intangible assets , consisting primarily of developed technology , customer and contract-related assets and goodwill .", "the values assigned to developed technologies related to each acquisition were based upon future discounted cash flows related to the existing products 2019 projected income streams .", "goodwill , representing the excess of the purchase consideration over the fair value of tangible and identifiable intangible assets acquired in the acquisitions , will not to be amortized .", "goodwill is not deductible for tax purposes .", "the amounts allocated to purchased in-process research and developments were determined through established valuation techniques in the high-technology industry and were expensed upon acquisition because technological feasibility had not been established and no future alternative uses existed .", "the consolidated financial statements include the operating results of each business from the date of acquisition .", "the company does not consider these acquisitions to be material to its results of operations and is therefore not presenting pro forma statements of operations for the fiscal years ended october 31 , 2006 , 2005 and 2004 .", "fiscal 2006 acquisitions sigma-c software ag ( sigma-c ) the company acquired sigma-c on august 16 , 2006 in an all-cash transaction .", "reasons for the acquisition .", "sigma-c provides simulation software that allows semiconductor manufacturers and their suppliers to develop and optimize process sequences for optical lithography , e-beam lithography and next-generation lithography technologies .", "the company believes the acquisition will enable a tighter integration between design and manufacturing tools , allowing the company 2019s customers to perform more accurate design layout analysis with 3d lithography simulation and better understand issues that affect ic wafer yields .", "purchase price .", "the company paid $ 20.5 million in cash for the outstanding shares and shareholder notes of which $ 2.05 million was deposited with an escrow agent and will be paid per the escrow agreement .", "the company believes that the escrow amount will be paid .", "the total purchase consideration consisted of: ." ]

[ "acquisition-related costs of $ 2.1 million consist primarily of legal , tax and accounting fees , estimated facilities closure costs and employee termination costs .", "as of october 31 , 2006 , the company had paid $ 0.9 million of the acquisition-related costs .", "the $ 1.2 million balance remaining at october 31 , 2006 primarily consists of legal , tax and accounting fees , estimated facilities closure costs and employee termination costs .", "assets acquired .", "the company performed a preliminary valuation and allocated the total purchase consideration to assets and liabilities .", "the company acquired $ 6.0 million of intangible assets consisting of $ 3.9 million in existing technology , $ 1.9 million in customer relationships and $ 0.2 million in trade names to be amortized over five years .", "the company also acquired assets of $ 3.9 million and assumed liabilities of $ 5.1 million as result of this transaction .", "goodwill , representing the excess of the purchase price over the ." ]

[ [ "", "(in thousands)" ], [ "Cash paid", "$20,500" ], [ "Acquisition-related costs", "2,053" ], [ "Total purchase price", "$22,553" ] ]

[ [ "", "( in thousands )" ], [ "cash paid", "$ 20500" ], [ "acquisition-related costs", "2053" ], [ "total purchase price", "$ 22553" ] ]

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[ "marathon oil corporation notes to consolidated financial statements the changes in the carrying amount of goodwill for the years ended december 31 , 2007 , and 2008 , were as follows : ( in millions ) e&p osm rm&t total ." ]

[ "( a ) adjustments related to prior period income tax and royalty adjustments .", "( b ) goodwill was allocated to the norwegian outside-operated properties sold in 2008 .", "17 .", "fair value measurements as defined in sfas no .", "157 , fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date .", "sfas no .", "157 describes three approaches to measuring the fair value of assets and liabilities : the market approach , the income approach and the cost approach , each of which includes multiple valuation techniques .", "the market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities .", "the income approach uses valuation techniques to measure fair value by converting future amounts , such as cash flows or earnings , into a single present value amount using current market expectations about those future amounts .", "the cost approach is based on the amount that would currently be required to replace the service capacity of an asset .", "this is often referred to as current replacement cost .", "the cost approach assumes that the fair value would not exceed what it would cost a market participant to acquire or construct a substitute asset of comparable utility , adjusted for obsolescence .", "sfas no .", "157 does not prescribe which valuation technique should be used when measuring fair value and does not prioritize among the techniques .", "sfas no .", "157 establishes a fair value hierarchy that prioritizes the inputs used in applying the various valuation techniques .", "inputs broadly refer to the assumptions that market participants use to make pricing decisions , including assumptions about risk .", "level 1 inputs are given the highest priority in the fair value hierarchy while level 3 inputs are given the lowest priority .", "the three levels of the fair value hierarchy are as follows .", "2022 level 1 2013 observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date .", "active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis .", "2022 level 2 2013 observable market-based inputs or unobservable inputs that are corroborated by market data .", "these are inputs other than quoted prices in active markets included in level 1 , which are either directly or indirectly observable as of the reporting date .", "2022 level 3 2013 unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management 2019s best estimate of fair value .", "we use a market or income approach for recurring fair value measurements and endeavor to use the best information available .", "accordingly , valuation techniques that maximize the use of observable inputs are favored .", "financial assets and liabilities are classified in their entirety based on the lowest priority level of input that is significant to the fair value measurement .", "the assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement of assets and liabilities within the levels of the fair value hierarchy. ." ]

[ [ "<i>(In millions)</i>", "E&P", "OSM", "RM&T", "Total" ], [ "Balance as of December 31, 2006", "$519", "$–", "$879", "$1,398" ], [ "Acquired", "71", "1,437", "–", "1,508" ], [ "Adjusted^(a)", "–", "–", "(7)", "(7)" ], [ "Balance as of December 31, 2007", "590", "1,437", "872", "2,899" ], [ "Adjusted^(a)", "(17)", "(25)", "7", "(35)" ], [ "Impaired", "–", "(1,412)", "–", "(1,412)" ], [ "Disposed^(b)", "(5)", "", "–", "(5)" ], [ "Balance as of December 31, 2008", "$568", "$–", "$879", "$1,447" ] ]

[ [ "( in millions )", "e&p", "osm", "rm&t", "total" ], [ "balance as of december 31 2006", "$ 519", "$ 2013", "$ 879", "$ 1398" ], [ "acquired", "71", "1437", "2013", "1508" ], [ "adjusted ( a )", "2013", "2013", "-7 ( 7 )", "-7 ( 7 )" ], [ "balance as of december 31 2007", "590", "1437", "872", "2899" ], [ "adjusted ( a )", "-17 ( 17 )", "-25 ( 25 )", "7", "-35 ( 35 )" ], [ "impaired", "2013", "-1412 ( 1412 )", "2013", "-1412 ( 1412 )" ], [ "disposed ( b )", "-5 ( 5 )", "", "2013", "-5 ( 5 )" ], [ "balance as of december 31 2008", "$ 568", "$ 2013", "$ 879", "$ 1447" ] ]

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[ "the grand gulf recovery variance is primarily due to increased recovery of higher costs resulting from the grand gulf uprate .", "the volume/weather variance is primarily due to the effects of more favorable weather on residential sales and an increase in industrial sales primarily due to growth in the refining segment .", "the fuel recovery variance is primarily due to : 2022 the deferral of increased capacity costs that will be recovered through fuel adjustment clauses ; 2022 the expiration of the evangeline gas contract on january 1 , 2013 ; and 2022 an adjustment to deferred fuel costs recorded in the third quarter 2012 in accordance with a rate order from the puct issued in september 2012 .", "see note 2 to the financial statements for further discussion of this puct order issued in entergy texas's 2011 rate case .", "the miso deferral variance is primarily due to the deferral in april 2013 , as approved by the apsc , of costs incurred since march 2010 related to the transition and implementation of joining the miso rto .", "the decommissioning trusts variance is primarily due to lower regulatory credits resulting from higher realized income on decommissioning trust fund investments .", "there is no effect on net income as the credits are offset by interest and investment income .", "entergy wholesale commodities following is an analysis of the change in net revenue comparing 2013 to 2012 .", "amount ( in millions ) ." ]

[ "as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 52 million in 2013 primarily due to : 2022 the effect of rising forward power prices on electricity derivative instruments that are not designated as hedges , including additional financial power sales conducted in the fourth quarter 2013 to offset the planned exercise of in-the-money protective call options and to lock in margins .", "these additional sales did not qualify for hedge accounting treatment , and increases in forward prices after those sales were made accounted for the majority of the negative mark-to-market variance .", "it is expected that the underlying transactions will result in earnings in first quarter 2014 as these positions settle .", "see note 16 to the financial statements for discussion of derivative instruments ; 2022 the decrease in net revenue compared to prior year resulting from the exercise of resupply options provided for in purchase power agreements where entergy wholesale commodities may elect to supply power from another source when the plant is not running .", "amounts related to the exercise of resupply options are included in the gwh billed in the table below ; and entergy corporation and subsidiaries management's financial discussion and analysis ." ]

[ [ "", "Amount (In Millions)" ], [ "2012 net revenue", "$1,854" ], [ "Mark-to-market", "(58)" ], [ "Nuclear volume", "(24)" ], [ "Nuclear fuel expenses", "(20)" ], [ "Nuclear realized price changes", "58" ], [ "Other", "(8)" ], [ "2013 net revenue", "$1,802" ] ]

[ [ "", "amount ( in millions )" ], [ "2012 net revenue", "$ 1854" ], [ "mark-to-market", "-58 ( 58 )" ], [ "nuclear volume", "-24 ( 24 )" ], [ "nuclear fuel expenses", "-20 ( 20 )" ], [ "nuclear realized price changes", "58" ], [ "other", "-8 ( 8 )" ], [ "2013 net revenue", "$ 1802" ] ]

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[ "entergy arkansas , inc .", "management's financial discussion and analysis results of operations net income 2008 compared to 2007 net income decreased $ 92.0 million primarily due to higher other operation and maintenance expenses , higher depreciation and amortization expenses , and a higher effective income tax rate , partially offset by higher net revenue .", "the higher other operation and maintenance expenses resulted primarily from the write-off of approximately $ 70.8 million of costs as a result of the december 2008 arkansas court of appeals decision in entergy arkansas' base rate case .", "the base rate case is discussed in more detail in note 2 to the financial statements .", "2007 compared to 2006 net income decreased $ 34.0 million primarily due to higher other operation and maintenance expenses , higher depreciation and amortization expenses , and a higher effective income tax rate .", "the decrease was partially offset by higher net revenue .", "net revenue 2008 compared to 2007 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 credits .", "following is an analysis of the change in net revenue comparing 2008 to 2007 .", "amount ( in millions ) ." ]

[ "the rider revenue variance is primarily due to an energy efficiency rider which became effective in november 2007 .", "the establishment of the rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense with no effect on net income .", "also contributing to the variance was an increase in franchise tax rider revenue as a result of higher retail revenues .", "the corresponding increase is in taxes other than income taxes , resulting in no effect on net income .", "the purchased power capacity variance is primarily due to lower reserve equalization expenses .", "the volume/weather variance is primarily due to the effect of less favorable weather on residential and commercial sales during the billed and unbilled sales periods compared to 2007 and a 2.9% ( 2.9 % ) volume decrease in industrial sales , primarily in the wood industry and the small customer class .", "billed electricity usage decreased 333 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. ." ]

[ [ "", "Amount (In Millions)" ], [ "2007 net revenue", "$1,110.6" ], [ "Rider revenue", "13.6" ], [ "Purchased power capacity", "4.8" ], [ "Volume/weather", "(14.6)" ], [ "Other", "3.5" ], [ "2008 net revenue", "$1,117.9" ] ]

[ [ "", "amount ( in millions )" ], [ "2007 net revenue", "$ 1110.6" ], [ "rider revenue", "13.6" ], [ "purchased power capacity", "4.8" ], [ "volume/weather", "-14.6 ( 14.6 )" ], [ "other", "3.5" ], [ "2008 net revenue", "$ 1117.9" ] ]

[ { "arg1": "1110.6", "arg2": "1117.9", "op": "minus1-1", "res": "7.3" }, { "arg1": "#0", "arg2": "1117.9", "op": "divide1-2", "res": "0.7%" } ]

[ "the company 2019s 2017 reported tax rate includes $ 160.9 million of net tax benefits associated with the tax act , $ 6.2 million of net tax benefits on special gains and charges , and net tax benefits of $ 25.3 million associated with discrete tax items .", "in connection with the company 2019s initial analysis of the impact of the tax act , as noted above , a provisional net discrete tax benefit of $ 160.9 million was recorded in the period ended december 31 , 2017 , which includes $ 321.0 million tax benefit for recording deferred tax assets and liabilities at the u.s .", "enacted tax rate , and a net expense for the one-time transition tax of $ 160.1 million .", "while the company was able to make an estimate of the impact of the reduction in the u.s .", "rate on deferred tax assets and liabilities and the one-time transition tax , it may be affected by other analyses related to the tax act , as indicated above .", "special ( gains ) and charges represent the tax impact of special ( gains ) and charges , as well as additional tax benefits utilized in anticipation of u.s .", "tax reform of $ 7.8 million .", "during 2017 , the company recorded a discrete tax benefit of $ 39.7 million related to excess tax benefits , resulting from the adoption of accounting changes regarding the treatment of tax benefits on share-based compensation .", "the extent of excess tax benefits is subject to variation in stock price and stock option exercises .", "in addition , the company recorded net discrete expenses of $ 14.4 million related to recognizing adjustments from filing the 2016 u.s .", "federal income tax return and international adjustments due to changes in estimates , partially offset by the release of reserves for uncertain tax positions due to the expiration of statute of limitations in state tax matters .", "during 2016 , the company recognized net expense related to discrete tax items of $ 3.9 million .", "the net expenses were driven primarily by recognizing adjustments from filing the company 2019s 2015 u.s .", "federal income tax return , partially offset by settlement of international tax matters and remeasurement of certain deferred tax assets and liabilities resulting from the application of updated tax rates in international jurisdictions .", "net expense was also impacted by adjustments to deferred tax asset and liability positions and the release of reserves for uncertain tax positions due to the expiration of statute of limitations in non-u.s .", "jurisdictions .", "during 2015 , the company recognized net benefits related to discrete tax items of $ 63.3 million .", "the net benefits were driven primarily by the release of $ 20.6 million of valuation allowances , based on the realizability of foreign deferred tax assets and the ability to recognize a worthless stock deduction of $ 39.0 million for the tax basis in a wholly-owned domestic subsidiary .", "a reconciliation of the beginning and ending amount of gross liability for unrecognized tax benefits is as follows: ." ]

[ "the total amount of unrecognized tax benefits , if recognized would have affected the effective tax rate by $ 47.1 million as of december 31 , 2017 , $ 57.5 million as of december 31 , 2016 and $ 59.2 million as of december 31 , 2015 .", "the company recognizes interest and penalties related to unrecognized tax benefits in its provision for income taxes .", "during 2017 , 2016 and 2015 the company released $ 0.9 million , $ 2.9 million and $ 1.4 million related to interest and penalties , respectively .", "the company had $ 9.3 million , $ 10.2 million and $ 13.1 million of accrued interest , including minor amounts for penalties , at december 31 , 2017 , 2016 , and 2015 , respectively. ." ]

[ [ "(millions)", "2017", "2016", "2015" ], [ "Balance at beginning of year", "$75.9", "$74.6", "$78.7" ], [ "Additions based on tax positions related to the current year", "3.2", "8.8", "5.8" ], [ "Additions for tax positions of prior years", "-", "2.1", "0.9" ], [ "Reductions for tax positions of prior years", "(4.9)", "(1.0)", "(8.8)" ], [ "Reductions for tax positions due to statute of limitations", "(14.0)", "(5.5)", "(1.6)" ], [ "Settlements", "(10.8)", "(2.0)", "(4.2)" ], [ "Assumed in connection with acquisitions", "10.0", "-", "8.0" ], [ "Foreign currency translation", "2.1", "(1.1)", "(4.2)" ], [ "Balance at end of year", "$61.5", "$75.9", "$74.6" ] ]

[ [ "( millions )", "2017", "2016", "2015" ], [ "balance at beginning of year", "$ 75.9", "$ 74.6", "$ 78.7" ], [ "additions based on tax positions related to the current year", "3.2", "8.8", "5.8" ], [ "additions for tax positions of prior years", "-", "2.1", "0.9" ], [ "reductions for tax positions of prior years", "-4.9 ( 4.9 )", "-1.0 ( 1.0 )", "-8.8 ( 8.8 )" ], [ "reductions for tax positions due to statute of limitations", "-14.0 ( 14.0 )", "-5.5 ( 5.5 )", "-1.6 ( 1.6 )" ], [ "settlements", "-10.8 ( 10.8 )", "-2.0 ( 2.0 )", "-4.2 ( 4.2 )" ], [ "assumed in connection with acquisitions", "10.0", "-", "8.0" ], [ "foreign currency translation", "2.1", "-1.1 ( 1.1 )", "-4.2 ( 4.2 )" ], [ "balance at end of year", "$ 61.5", "$ 75.9", "$ 74.6" ] ]

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[ "american tower corporation and subsidiaries notes to consolidated financial statements the valuation allowance increased from $ 47.8 million as of december 31 , 2009 to $ 48.2 million as of december 31 , 2010 .", "the increase was primarily due to valuation allowances on foreign loss carryforwards .", "at december 31 , 2010 , the company has provided a valuation allowance of approximately $ 48.2 million which primarily relates to state net operating loss carryforwards , equity investments and foreign items .", "the company has not provided a valuation allowance for the remaining deferred tax assets , primarily its federal net operating loss carryforwards , as management believes the company will have sufficient taxable income to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .", "valuation allowances may be reversed if related deferred tax assets are deemed realizable based on changes in facts and circumstances relevant to the assets 2019 recoverability .", "the recoverability of the company 2019s remaining net deferred tax asset has been assessed utilizing projections based on its current operations .", "the projections show a significant decrease in depreciation in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period .", "accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .", "based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .", "the company 2019s deferred tax assets as of december 31 , 2010 and 2009 in the table above do not include $ 122.1 million and $ 113.9 million , respectively , of excess tax benefits from the exercises of employee stock options that are a component of net operating losses .", "total stockholders 2019 equity as of december 31 , 2010 will be increased by $ 122.1 million if and when any such excess tax benefits are ultimately realized .", "at december 31 , 2010 , the company had net federal and state operating loss carryforwards available to reduce future federal and state taxable income of approximately $ 1.2 billion , including losses related to employee stock options of $ 0.3 billion .", "if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : ." ]

[ "in addition , the company has mexican tax credits of $ 5.2 million which if not utilized would expire in 2017. ." ]

[ [ "Years ended December 31,", "Federal", "State", "Foreign" ], [ "2011 to 2015", "$—", "$—", "$503" ], [ "2016 to 2020", "—", "331,315", "5,509" ], [ "2021 to 2025", "774,209", "576,780", "—" ], [ "2026 to 2030", "423,398", "279,908", "92,412" ], [ "Total", "$1,197,607", "$1,188,003", "$98,424" ] ]

[ [ "years ended december 31,", "federal", "state", "foreign" ], [ "2011 to 2015", "$ 2014", "$ 2014", "$ 503" ], [ "2016 to 2020", "2014", "331315", "5509" ], [ "2021 to 2025", "774209", "576780", "2014" ], [ "2026 to 2030", "423398", "279908", "92412" ], [ "total", "$ 1197607", "$ 1188003", "$ 98424" ] ]

[ { "arg1": "1197607", "arg2": "1188003", "op": "add2-1", "res": "2385610" }, { "arg1": "#0", "arg2": "98424", "op": "add2-2", "res": "2484034" }, { "arg1": "1188003", "arg2": "#1", "op": "divide2-3", "res": "47.8%" } ]

[ "the redemptions resulted in an early extinguishment charge of $ 5 million .", "on march 22 , 2010 , we redeemed $ 175 million of our 6.5% ( 6.5 % ) notes due april 15 , 2012 .", "the redemption resulted in an early extinguishment charge of $ 16 million in the first quarter of 2010 .", "on november 1 , 2010 , we redeemed all $ 400 million of our outstanding 6.65% ( 6.65 % ) notes due january 15 , 2011 .", "the redemption resulted in a $ 5 million early extinguishment charge .", "receivables securitization facility 2013 as of december 31 , 2011 and 2010 , we have recorded $ 100 million as secured debt under our receivables securitization facility .", "( see further discussion of our receivables securitization facility in note 10 ) .", "15 .", "variable interest entities we have entered into various lease transactions in which the structure of the leases contain variable interest entities ( vies ) .", "these vies were created solely for the purpose of doing lease transactions ( principally involving railroad equipment and facilities , including our headquarters building ) and have no other activities , assets or liabilities outside of the lease transactions .", "within these lease arrangements , we have the right to purchase some or all of the assets at fixed prices .", "depending on market conditions , fixed-price purchase options available in the leases could potentially provide benefits to us ; however , these benefits are not expected to be significant .", "we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry .", "as such , we have no control over activities that could materially impact the fair value of the leased assets .", "we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies .", "additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase price options are not considered to be potentially significant to the vie 2019s .", "the future minimum lease payments associated with the vie leases totaled $ 3.9 billion as of december 31 , 2011 .", "16 .", "leases we lease certain locomotives , freight cars , and other property .", "the consolidated statement of financial position as of december 31 , 2011 and 2010 included $ 2458 million , net of $ 915 million of accumulated depreciation , and $ 2520 million , net of $ 901 million of accumulated depreciation , respectively , for properties held under capital leases .", "a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income .", "future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2011 , were as follows : millions operating leases capital leases ." ]

[ "the majority of capital lease payments relate to locomotives .", "rent expense for operating leases with terms exceeding one month was $ 637 million in 2011 , $ 624 million in 2010 , and $ 686 million in 2009 .", "when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term .", "contingent rentals and sub-rentals are not significant. ." ]

[ [ "<i>Millions</i>", "<i>Operating</i><i>Leases</i>", "<i>Capital</i><i>Leases</i>" ], [ "2012", "$525", "$297" ], [ "2013", "489", "269" ], [ "2014", "415", "276" ], [ "2015", "372", "276" ], [ "2016", "347", "262" ], [ "Later years", "2,380", "1,179" ], [ "Total minimum leasepayments", "$4,528", "$2,559" ], [ "Amount representing interest", "N/A", "(685)" ], [ "Present value of minimum leasepayments", "N/A", "$1,874" ] ]

[ [ "millions", "operatingleases", "capitalleases" ], [ "2012", "$ 525", "$ 297" ], [ "2013", "489", "269" ], [ "2014", "415", "276" ], [ "2015", "372", "276" ], [ "2016", "347", "262" ], [ "later years", "2380", "1179" ], [ "total minimum leasepayments", "$ 4528", "$ 2559" ], [ "amount representing interest", "n/a", "-685 ( 685 )" ], [ "present value of minimum leasepayments", "n/a", "$ 1874" ] ]

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[ "intermodal 2013 decreased volumes and fuel surcharges reduced freight revenue from intermodal shipments in 2009 versus 2008 .", "volume from international traffic decreased 24% ( 24 % ) in 2009 compared to 2008 , reflecting economic conditions , continued weak imports from asia , and diversions to non-uprr served ports .", "additionally , continued weakness in the domestic housing and automotive sectors translated into weak demand in large sectors of the international intermodal market , which also contributed to the volume decline .", "conversely , domestic traffic increased 8% ( 8 % ) in 2009 compared to 2008 .", "a new contract with hub group , inc. , which included additional shipments , was executed in the second quarter of 2009 and more than offset the impact of weak market conditions in the second half of 2009 .", "price increases and fuel surcharges generated higher revenue in 2008 , partially offset by lower volume levels .", "international traffic declined 11% ( 11 % ) in 2008 , reflecting continued softening of imports from china and the loss of a customer contract .", "notably , the peak intermodal shipping season , which usually starts in the third quarter , was particularly weak in 2008 .", "additionally , continued weakness in domestic housing and automotive sectors translated into weak demand in large sectors of the international intermodal market , which also contributed to lower volumes .", "domestic traffic declined 3% ( 3 % ) in 2008 due to the loss of a customer contract and lower volumes from less-than-truckload shippers .", "additionally , the flood-related embargo on traffic in the midwest during the second quarter hindered intermodal volume levels in 2008 .", "mexico business 2013 each of our commodity groups include revenue from shipments to and from mexico .", "revenue from mexico business decreased 26% ( 26 % ) in 2009 versus 2008 to $ 1.2 billion .", "volume declined in five of our six commodity groups , down 19% ( 19 % ) in 2009 , driven by 32% ( 32 % ) and 24% ( 24 % ) reductions in industrial products and automotive shipments , respectively .", "conversely , energy shipments increased 9% ( 9 % ) in 2009 versus 2008 , partially offsetting these declines .", "revenue from mexico business increased 13% ( 13 % ) to $ 1.6 billion in 2008 compared to 2007 .", "price improvements and fuel surcharges contributed to these increases , partially offset by a 4% ( 4 % ) decline in volume in 2008 compared to 2007 .", "operating expenses millions of dollars 2009 2008 2007 % ( % ) change 2009 v 2008 % ( % ) change 2008 v 2007 ." ]

[ "2009 intermodal revenue international domestic ." ]

[ [ "<i>Millions of Dollars</i>", "<i>2009</i>", "<i>2008</i>", "<i>2007</i>", "<i>% Change 2009 v 2008</i>", "% Change 2008 v 2007" ], [ "Compensation and benefits", "$4,063", "$4,457", "$4,526", "(9)%", "(2)%" ], [ "Fuel", "1,763", "3,983", "3,104", "(56)", "28" ], [ "Purchased services and materials", "1,614", "1,902", "1,856", "(15)", "2" ], [ "Depreciation", "1,444", "1,387", "1,321", "4", "5" ], [ "Equipment and other rents", "1,180", "1,326", "1,368", "(11)", "(3)" ], [ "Other", "687", "840", "733", "(18)", "15" ], [ "Total", "$10,751", "$13,895", "$12,908", "(23)%", "8%" ] ]

[ [ "millions of dollars", "2009", "2008", "2007", "% ( % ) change 2009 v 2008", "% ( % ) change 2008 v 2007" ], [ "compensation and benefits", "$ 4063", "$ 4457", "$ 4526", "( 9 ) % ( % )", "( 2 ) % ( % )" ], [ "fuel", "1763", "3983", "3104", "-56 ( 56 )", "28" ], [ "purchased services and materials", "1614", "1902", "1856", "-15 ( 15 )", "2" ], [ "depreciation", "1444", "1387", "1321", "4", "5" ], [ "equipment and other rents", "1180", "1326", "1368", "-11 ( 11 )", "-3 ( 3 )" ], [ "other", "687", "840", "733", "-18 ( 18 )", "15" ], [ "total", "$ 10751", "$ 13895", "$ 12908", "( 23 ) % ( % )", "8% ( 8 % )" ] ]

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[ "expected term 2014 the company uses historical employee exercise and option expiration data to estimate the expected term assumption for the black-scholes grant-date valuation .", "the company believes that this historical data is currently the best estimate of the expected term of a new option , and that generally its employees exhibit similar exercise behavior .", "risk-free interest rate 2014 the yield on zero-coupon u.s .", "treasury securities for a period that is commensurate with the expected term assumption is used as the risk-free interest rate .", "expected dividend yield 2014 expected dividend yield is calculated by annualizing the cash dividend declared by the company 2019s board of directors for the current quarter and dividing that result by the closing stock price on the date of grant .", "until such time as the company 2019s board of directors declares a cash dividend for an amount that is different from the current quarter 2019s cash dividend , the current dividend will be used in deriving this assumption .", "cash dividends are not paid on options , restricted stock or restricted stock units .", "in connection with the acquisition , the company granted restricted stock awards to replace outstanding restricted stock awards of linear employees .", "these restricted stock awards entitle recipients to voting and nonforfeitable dividend rights from the date of grant .", "stock-based compensation expensexp p the amount of stock-based compensation expense recognized during a period is based on the value of the awards that are ultimately expected to vest .", "forfeitures are estimated at the time of grant and revised , if necessary , in subsequent periods if actual forfeitures differ from those estimates .", "the term 201cforfeitures 201d is distinct from 201ccancellations 201d or 201cexpirations 201d and represents only the unvested portion of the surrendered stock-based award .", "based on an analysis of its historical forfeitures , the company has applied an annual forfeitureff rate of 5.0% ( 5.0 % ) to all unvested stock-based awards as of november 2 , 2019 .", "this analysis will be re-evaluated quarterly and the forfeiture rate will be adjusted as necessary .", "ultimately , the actual expense recognized over the vesting period will only be for those awards that vest .", "total stock-based compensation expense recognized is as follows: ." ]

[ "as of november 2 , 2019 and november 3 , 2018 , the company capitalized $ 6.8 million and $ 7.1 million , respectively , of stock-based compensation in inventory .", "additional paid-in-capital ( apic ) pp poolp p ( ) the company adopted asu 2016-09 during fiscal 2018 .", "asu 2016-09 eliminated the apic pool and requires that excess tax benefits and tax deficiencies be recorded in the income statement when awards are settled .", "as a result of this adoption the company recorded total excess tax benefits of $ 28.7 million and $ 26.2 million in fiscal 2019 and fiscal 2018 , respectively , from its stock-based compensation payments within income tax expense in its consolidated statements of income .", "for fiscal 2017 , the apic pool represented the excess tax benefits related to stock-based compensation that were available to absorb future tax deficiencies .", "if the amount of future tax deficiencies was greater than the available apic pool , the company recorded the excess as income tax expense in its consolidated statements of income .", "for fiscal 2017 , the company had a sufficient apic pool to cover any tax deficiencies recorded and as a result , these deficiencies did not affect its results of operations .", "analog devices , inc .", "notes to consolidated financial statements 2014 ( continued ) ." ]

[ [ "", "2019", "2018", "2017" ], [ "Cost of sales", "$20,628", "$18,733", "$12,569" ], [ "Research and development", "75,305", "81,444", "51,258" ], [ "Selling, marketing, general and administrative", "51,829", "50,988", "40,361" ], [ "Special charges", "2,538", "—", "—" ], [ "Total stock-based compensation expense", "$150,300", "$151,165", "$104,188" ] ]

[ [ "", "2019", "2018", "2017" ], [ "cost of sales", "$ 20628", "$ 18733", "$ 12569" ], [ "research and development", "75305", "81444", "51258" ], [ "selling marketing general and administrative", "51829", "50988", "40361" ], [ "special charges", "2538", "2014", "2014" ], [ "total stock-based compensation expense", "$ 150300", "$ 151165", "$ 104188" ] ]

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[ "f-80 www.thehartford.com the hartford financial services group , inc .", "notes to consolidated financial statements ( continued ) 14 .", "commitments and contingencies ( continued ) future minimum lease commitments as of december 31 , 2016 operating leases ." ]

[ "[1] excludes expected future minimum sublease income of approximately $ 2 , $ 2 , $ 2 , $ 2 , $ 0 and $ 0 in 2017 , 2018 , 2019 , 2020 , 2021 and thereafter respectively .", "the company 2019s lease commitments consist primarily of lease agreements for office space , automobiles , and office equipment that expire at various dates .", "unfunded commitments as of december 31 , 2016 , the company has outstanding commitments totaling $ 1.6 billion , of which $ 1.2 billion is committed to fund limited partnership and other alternative investments , which may be called by the partnership during the commitment period to fund the purchase of new investments and partnership expenses .", "additionally , $ 313 of the outstanding commitments relate to various funding obligations associated with private placement securities .", "the remaining outstanding commitments of $ 95 relate to mortgage loans the company is expecting to fund in the first half of 2017 .", "guaranty funds and other insurance-related assessments in all states , insurers licensed to transact certain classes of insurance are required to become members of a guaranty fund .", "in most states , in the event of the insolvency of an insurer writing any such class of insurance in the state , the guaranty funds may assess its members to pay covered claims of the insolvent insurers .", "assessments are based on each member 2019s proportionate share of written premiums in the state for the classes of insurance in which the insolvent insurer was engaged .", "assessments are generally limited for any year to one or two percent of the premiums written per year depending on the state .", "some states permit member insurers to recover assessments paid through surcharges on policyholders or through full or partial premium tax offsets , while other states permit recovery of assessments through the rate filing process .", "liabilities for guaranty fund and other insurance-related assessments are accrued when an assessment is probable , when it can be reasonably estimated , and when the event obligating the company to pay an imposed or probable assessment has occurred .", "liabilities for guaranty funds and other insurance- related assessments are not discounted and are included as part of other liabilities in the consolidated balance sheets .", "as of december 31 , 2016 and 2015 the liability balance was $ 134 and $ 138 , respectively .", "as of december 31 , 2016 and 2015 amounts related to premium tax offsets of $ 34 and $ 44 , respectively , were included in other assets .", "derivative commitments certain of the company 2019s derivative agreements contain provisions that are tied to the financial strength ratings , as set by nationally recognized statistical agencies , of the individual legal entity that entered into the derivative agreement .", "if the legal entity 2019s financial strength were to fall below certain ratings , the counterparties to the derivative agreements could demand immediate and ongoing full collateralization and in certain instances enable the counterparties to terminate the agreements and demand immediate settlement of all outstanding derivative positions traded under each impacted bilateral agreement .", "the settlement amount is determined by netting the derivative positions transacted under each agreement .", "if the termination rights were to be exercised by the counterparties , it could impact the legal entity 2019s ability to conduct hedging activities by increasing the associated costs and decreasing the willingness of counterparties to transact with the legal entity .", "the aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position as of december 31 , 2016 was $ 1.4 billion .", "of this $ 1.4 billion , the legal entities have posted collateral of $ 1.7 billion in the normal course of business .", "in addition , the company has posted collateral of $ 31 associated with a customized gmwb derivative .", "based on derivative market values as of december 31 , 2016 , a downgrade of one level below the current financial strength ratings by either moody 2019s or s&p would not require additional assets to be posted as collateral .", "based on derivative market values as of december 31 , 2016 , a downgrade of two levels below the current financial strength ratings by either moody 2019s or s&p would require additional $ 10 of assets to be posted as collateral .", "these collateral amounts could change as derivative market values change , as a result of changes in our hedging activities or to the extent changes in contractual terms are negotiated .", "the nature of the collateral that we post , when required , is primarily in the form of u.s .", "treasury bills , u.s .", "treasury notes and government agency securities .", "guarantees in the ordinary course of selling businesses or entities to third parties , the company has agreed to indemnify purchasers for losses arising subsequent to the closing due to breaches of representations and warranties with respect to the business or entity being sold or with respect to covenants and obligations of the company and/or its subsidiaries .", "these obligations are typically subject to various time limitations , defined by the contract or by operation of law , such as statutes of limitation .", "in some cases , the maximum potential obligation is subject to contractual limitations , while in other cases such limitations are not specified or applicable .", "the company does not expect to make any payments on these guarantees and is not carrying any liabilities associated with these guarantees. ." ]

[ [ "", "Operating Leases" ], [ "2017", "$42" ], [ "2018", "35" ], [ "2019", "28" ], [ "2020", "20" ], [ "2021", "10" ], [ "Thereafter", "28" ], [ "Total minimum lease payments [1]", "$163" ] ]

[ [ "", "operating leases" ], [ "2017", "$ 42" ], [ "2018", "35" ], [ "2019", "28" ], [ "2020", "20" ], [ "2021", "10" ], [ "thereafter", "28" ], [ "total minimum lease payments [1]", "$ 163" ] ]

[]

[ "for fiscal year 2005 , the effective tax rate includes the impact of $ 11.6 million tax expense associated with repatriation of approximately $ 185.0 million of foreign earnings under the provisions of the american jobs creation act of 2004 .", "for fiscal year 2004 , the effective tax rate reflects the tax benefit derived from higher earnings in low-tax jurisdictions .", "during fiscal year 2006 , primarily due to a tax accounting method change , there was a decrease of $ 83.2 million in the current deferred tax assets , and a corresponding increase in non-current deferred tax assets .", "in the third quarter of fiscal year 2006 , we changed our tax accounting method on our tax return for fiscal year 2005 with respect to the current portion of deferred revenue to follow the recognition of revenue under u.s .", "generally accepted accounting principles .", "this accounting method change , as well as other adjustments made to our taxable income upon the filing of the fiscal year 2005 tax return , resulted in an increase in our operating loss ( nol ) carryforwards .", "in may 2006 , the tax increase prevention and reconciliation act of 2005 was enacted , which provides a three-year exception to current u.s .", "taxation of certain foreign intercompany income .", "this provision will first apply to synopsys in fiscal year 2007 .", "management estimates that had such provisions been applied for fiscal 2006 , our income tax expense would have been reduced by approximately $ 3 million .", "in december 2006 , the tax relief and health care act of 2006 was enacted , which retroactively extended the research and development credit from january 1 , 2006 .", "as a result , we will record an expected increase in our fiscal 2006 research and development credit of between $ 1.5 million and $ 1.8 million in the first quarter of fiscal 2007 .", "revision of prior year financial statements .", "as part of our remediation of the material weakness in internal control over financial reporting identified in fiscal 2005 relating to accounting for income taxes we implemented additional internal control and review procedures .", "through such procedures , in the fourth quarter of fiscal 2006 , we identified four errors totaling $ 8.2 million which affected our income tax provision in fiscal years 2001 through 2005 .", "we concluded that these errors were not material to any prior year financial statements .", "although the errors are not material to prior periods , we elected to revise prior year financial statements to correct such errors .", "the fiscal periods in which the errors originated , and the resulting change in provision ( benefit ) for income taxes for each year , are reflected in the following table : year ended october 31 ( in thousands ) ." ]

[ "the errors were as follows : ( 1 ) synopsys inadvertently provided a $ 1.4 million tax benefit for the write- off of goodwill relating to an acquisition in fiscal 2002 ; ( 2 ) synopsys did not accrue interest and penalties for certain foreign tax contingency items in the amount of $ 3.2 million ; ( 3 ) synopsys made certain computational errors relating to foreign dividends of $ 2.3 million ; and ( 4 ) synopsys did not record a valuation allowance relating to certain state tax credits of $ 1.3 million .", "as result of this revision , non-current deferred tax assets decreased by $ 8.1 million and current taxes payable increased by $ 0.2 million .", "retained earnings decreased by $ 8.2 million and additional paid in capital decreased by $ 0.1 million .", "see item 9a .", "controls and procedures for a further discussion of our remediation of the material weakness .", "tax effects of stock awards .", "in november 2005 , fasb issued a staff position ( fsp ) on fas 123 ( r ) -3 , transition election related to accounting for the tax effects of share-based payment awards .", "effective upon issuance , this fsp describes an alternative transition method for calculating the tax effects of share-based compensation pursuant to sfas 123 ( r ) .", "the alternative transition method includes simplified methods to establish the beginning balance of the additional paid-in capital pool ( apic pool ) related to the tax effects of employee stock based compensation , and to determine the subsequent impact on the apic pool and the statement of cash flows of the tax effects of employee share-based compensation ." ]

[ [ "2001", "2002", "2003", "2004", "2005" ], [ "$205", "$1,833", "$5,303", "$(748)", "$1,636" ] ]

[ [ "2001", "2002", "2003", "2004", "2005" ], [ "$ 205", "$ 1833", "$ 5303", "$ -748 ( 748 )", "$ 1636" ] ]

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[ "during 2012 , the company granted selected employees an aggregate of 139 thousand rsus with internal performance measures and , separately , certain market thresholds .", "these awards vested in january 2015 .", "the terms of the grants specified that to the extent certain performance goals , comprised of internal measures and , separately , market thresholds were achieved , the rsus would vest ; if performance goals were surpassed , up to 175% ( 175 % ) of the target awards would be distributed ; and if performance goals were not met , the awards would be forfeited .", "in january 2015 , an additional 93 thousand rsus were granted and distributed because performance thresholds were exceeded .", "in 2015 , 2014 and 2013 , the company granted rsus , both with and without performance conditions , to certain employees under the 2007 plan .", "the rsus without performance conditions vest ratably over the three- year service period beginning january 1 of the year of the grant and the rsus with performance conditions vest ratably over the three-year performance period beginning january 1 of the year of the grant ( the 201cperformance period 201d ) .", "distribution of the performance shares is contingent upon the achievement of internal performance measures and , separately , certain market thresholds over the performance period .", "during 2015 , 2014 and 2013 , the company granted rsus to non-employee directors under the 2007 plan .", "the rsus vested on the date of grant ; however , distribution of the shares will be made within 30 days of the earlier of : ( i ) 15 months after grant date , subject to any deferral election by the director ; or ( ii ) the participant 2019s separation from service .", "because these rsus vested on the grant date , the total grant date fair value was recorded in operation and maintenance expense included in the expense table above on the grant date .", "rsus generally vest over periods ranging from one to three years .", "rsus granted with service-only conditions and those with internal performance measures are valued at the market value of the closing price of the company 2019s common stock on the date of grant .", "rsus granted with market conditions are valued using a monte carlo model .", "expected volatility is based on historical volatilities of traded common stock of the company and comparative companies using daily stock prices over the past three years .", "the expected term is three years and the risk-free interest rate is based on the three-year u.s .", "treasury rate in effect as of the measurement date .", "the following table presents the weighted-average assumptions used in the monte carlo simulation and the weighted-average grant date fair values of rsus granted for the years ended december 31: ." ]

[ "the grant date fair value of restricted stock awards that vest ratably and have market and/or performance and service conditions are amortized through expense over the requisite service period using the graded-vesting method .", "rsus that have no performance conditions are amortized through expense over the requisite service period using the straight-line method and are included in operations expense in the accompanying consolidated statements of operations .", "as of december 31 , 2015 , $ 4 of total unrecognized compensation cost related to the nonvested restricted stock units is expected to be recognized over the weighted-average remaining life of 1.4 years .", "the total grant date fair value of rsus vested was $ 12 , $ 11 and $ 9 for the years ended december 31 , 2015 , 2014 and 2013. ." ]

[ [ "", "2015", "2014", "2013" ], [ "Expected volatility", "14.93%", "17.78%", "19.37%" ], [ "Risk-free interest rate", "1.07%", "0.75%", "0.40%" ], [ "Expected life (years)", "3.0", "3.0", "3.0" ], [ "Grant date fair value per share", "$62.10", "$45.45", "$40.13" ] ]

[ [ "", "2015", "2014", "2013" ], [ "expected volatility", "14.93% ( 14.93 % )", "17.78% ( 17.78 % )", "19.37% ( 19.37 % )" ], [ "risk-free interest rate", "1.07% ( 1.07 % )", "0.75% ( 0.75 % )", "0.40% ( 0.40 % )" ], [ "expected life ( years )", "3.0", "3.0", "3.0" ], [ "grant date fair value per share", "$ 62.10", "$ 45.45", "$ 40.13" ] ]

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[ "2018 ppg annual report and form 10-k 59 other acquisitions in 2018 , 2017 , and 2016 , the company completed several smaller business acquisitions .", "the total consideration paid for these acquisitions , net of cash acquired , debt assumed and other post closing adjustments , was $ 108 million , $ 74 million and $ 43 million , respectively .", "in january 2018 , ppg acquired procoatings , a leading architectural paint and coatings wholesaler located in the netherlands .", "procoatings , established in 2001 , distributes a large portfolio of well-known professional paint brands through its network of 23 multi-brand stores .", "the company employs nearly 100 people .", "the results of this business since the date of acquisition have been reported within the architectural coatings americas and asia pacific business within the performance coatings reportable segment .", "in january 2017 , ppg acquired certain assets of automotive refinish coatings company futian xinshi ( 201cfutian 201d ) , based in the guangdong province of china .", "futian distributes its products in china through a network of more than 200 distributors .", "in january 2017 , ppg completed the acquisition of deutek s.a. , a leading romanian paint and architectural coatings manufacturer , from the emerging europe accession fund .", "deutek , established in 1993 , manufactures and markets a large portfolio of well-known professional and consumer paint brands , including oskar and danke! .", "the company 2019s products are sold in more than 120 do-it-yourself stores and 3500 independent retail outlets in romania .", "divestitures glass segment in 2017 , ppg completed a multi-year strategic shift in the company's business portfolio , resulting in the exit of all glass operations which consisted of the global fiber glass business , ppg's ownership interest in two asian fiber glass joint ventures and the flat glass business .", "accordingly , the results of operations , including the gains on the divestitures , and cash flows have been recast as discontinued operations for all periods presented .", "ppg now has two reportable business segments .", "the net sales and income from discontinued operations related to the former glass segment for the three years ended december 31 , 2018 , 2017 , and 2016 were as follows: ." ]

[ "during 2018 , ppg released $ 13 million of previously recorded accruals and contingencies established in conjunction with the divestitures of businesses within the former glass segment as a result of completed actions , new information and updated estimates .", "also during 2018 , ppg made a final payment of $ 20 million to vitro s.a.b .", "de c.v related to the transfer of certain pension obligations upon the sale of the former flat glass business .", "north american fiber glass business on september 1 , 2017 , ppg completed the sale of its north american fiber glass business to nippon electric glass co .", "ltd .", "( 201cneg 201d ) .", "cash proceeds from the sale were $ 541 million , resulting in a pre-tax gain of $ 343 million , net of certain accruals and contingencies established in conjunction with the divestiture .", "ppg 2019s fiber glass operations included manufacturing facilities in chester , south carolina , and lexington and shelby , north carolina ; and administrative and research-and-development operations in shelby and in harmar , pennsylvania , near pittsburgh .", "the business , which employed more than 1000 people and had net sales of approximately $ 350 million in 2016 , supplies the transportation , energy , infrastructure and consumer markets .", "flat glass business in october 2016 , ppg completed the sale of its flat glass manufacturing and glass coatings operations to vitro s.a.b .", "de c.v .", "ppg received approximately $ 740 million in cash proceeds and recorded a pre-tax gain of $ 421 million on the sale .", "under the terms of the agreement , ppg divested its entire flat glass manufacturing and glass coatings operations , including production sites located in fresno , california ; salem , oregon ; carlisle , pennsylvania ; and wichita falls , texas ; four distribution/fabrication facilities located across canada ; and a research-and-development center located in harmar , pennsylvania .", "ppg 2019s flat glass business included approximately 1200 employees .", "the business manufactures glass that is fabricated into products used primarily in commercial and residential construction .", "notes to the consolidated financial statements ." ]

[ [ "($ in millions)", "2018", "2017", "2016" ], [ "Net sales", "$—", "$217", "$908" ], [ "Income from operations", "$21", "$30", "$111" ], [ "Net gains on the divestitures of businesses", "—", "343", "421" ], [ "Income tax expense", "5", "140", "202" ], [ "Income from discontinued operations, net of tax", "$16", "$233", "$330" ] ]

[ [ "( $ in millions )", "2018", "2017", "2016" ], [ "net sales", "$ 2014", "$ 217", "$ 908" ], [ "income from operations", "$ 21", "$ 30", "$ 111" ], [ "net gains on the divestitures of businesses", "2014", "343", "421" ], [ "income tax expense", "5", "140", "202" ], [ "income from discontinued operations net of tax", "$ 16", "$ 233", "$ 330" ] ]

[]

[ "24 | 2018 emerson annual report 2017 vs .", "2016 2013 commercial & residential solutions sales were $ 5.9 billion in 2017 , an increase of $ 302 million , or 5 percent , reflecting favorable conditions in hvac and refrigeration markets in the u.s. , asia and europe , as well as u.s .", "and asian construction markets .", "underlying sales increased 5 percent ( $ 297 million ) on 6 percent higher volume , partially offset by 1 percent lower price .", "foreign currency translation deducted $ 20 million and acquisitions added $ 25 million .", "climate technologies sales were $ 4.2 billion in 2017 , an increase of $ 268 million , or 7 percent .", "global air conditioning sales were solid , led by strength in the u.s .", "and asia and robust growth in china partially due to easier comparisons , while sales were up modestly in europe and declined moderately in middle east/africa .", "global refrigeration sales were strong , reflecting robust growth in china on increased adoption of energy- efficient solutions and slight growth in the u.s .", "sensors and solutions had strong growth , while temperature controls was up modestly .", "tools & home products sales were $ 1.6 billion in 2017 , up $ 34 million compared to the prior year .", "professional tools had strong growth on favorable demand from oil and gas customers and in other construction-related markets .", "wet/dry vacuums sales were up moderately as favorable conditions continued in u.s .", "construction markets .", "food waste disposers increased slightly , while the storage business declined moderately .", "overall , underlying sales increased 3 percent in the u.s. , 4 percent in europe and 17 percent in asia ( china up 27 percent ) .", "sales increased 3 percent in latin america and 4 percent in canada , while sales decreased 5 percent in middle east/africa .", "earnings were $ 1.4 billion , an increase of $ 72 million driven by climate technologies , while margin was flat .", "increased volume and resulting leverage , savings from cost reduction actions , and lower customer accommodation costs of $ 16 million were largely offset by higher materials costs , lower price and unfavorable product mix .", "financial position , capital resources and liquidity the company continues to generate substantial cash from operations and has the resources available to reinvest for growth in existing businesses , pursue strategic acquisitions and manage its capital structure on a short- and long-term basis .", "cash flow from continuing operations ( dollars in millions ) 2016 2017 2018 ." ]

[ "operating cash flow from continuing operations for 2018 was $ 2.9 billion , a $ 202 million , or 8 percent increase compared with 2017 , primarily due to higher earnings , partially offset by an increase in working capital investment to support higher levels of sales activity and income taxes paid on the residential storage divestiture .", "operating cash flow from continuing operations of $ 2.7 billion in 2017 increased 8 percent compared to $ 2.5 billion in 2016 , reflecting higher earnings and favorable changes in working capital .", "at september 30 , 2018 , operating working capital as a percent of sales was 5.7 percent compared with 6.6 percent in 2017 and 5.2 percent in 2016 .", "the increase in 2017 was due to higher levels of working capital in the acquired valves & controls business .", "operating cash flow from continuing operations funded capital expenditures of $ 617 million , dividends of $ 1.2 billion , and common stock purchases of $ 1.0 billion .", "in 2018 , the company repatriated $ 1.4 billion of cash held by non-u.s .", "subsidiaries , which was part of the company 2019s previously announced plans .", "these funds along with increased short-term borrowings and divestiture proceeds supported acquisitions of $ 2.2 billion .", "contributions to pension plans were $ 61 million in 2018 , $ 45 million in 2017 and $ 66 million in 2016 .", "capital expenditures related to continuing operations were $ 617 million , $ 476 million and $ 447 million in 2018 , 2017 and 2016 , respectively .", "free cash flow from continuing operations ( operating cash flow less capital expenditures ) was $ 2.3 billion in 2018 , up 3 percent .", "free cash flow was $ 2.2 billion in 2017 , compared with $ 2.1 billion in 2016 .", "the company is targeting capital spending of approximately $ 650 million in 2019 .", "net cash paid in connection with acquisitions was $ 2.2 billion , $ 3.0 billion and $ 132 million in 2018 , 2017 and 2016 , respectively .", "proceeds from divestitures not classified as discontinued operations were $ 201 million and $ 39 million in 2018 and 2017 , respectively .", "dividends were $ 1.2 billion ( $ 1.94 per share ) in 2018 , compared with $ 1.2 billion ( $ 1.92 per share ) in 2017 and $ 1.2 billion ( $ 1.90 per share ) in 2016 .", "in november 2018 , the board of directors voted to increase the quarterly cash dividend 1 percent , to an annualized rate of $ 1.96 per share .", "purchases of emerson common stock totaled $ 1.0 billion , $ 400 million and $ 601 million in 2018 , 2017 and 2016 , respectively , at average per share prices of $ 66.25 , $ 60.51 and $ 48.11 .", "the board of directors authorized the purchase of up to 70 million common shares in november 2015 , and 41.8 million shares remain available for purchase under this authorization .", "the company purchased 15.1 million shares in 2018 , 6.6 million shares in 2017 , and 12.5 million shares in 2016 under this authorization and the remainder of the may 2013 authorization. ." ]

[ [ "(dollars in millions)", "2016", "2017", "2018" ], [ "Operating Cash Flow", "$2,499", "2,690", "2,892" ], [ "Percent of sales", "17.2%", "17.6%", "16.6%" ], [ "Capital Expenditures", "$447", "476", "617" ], [ "Percent of sales", "3.1%", "3.1%", "3.5%" ], [ "Free Cash Flow(Operating Cash Flow less Capital Expenditures)", "$2,052", "2,214", "2,275" ], [ "Percent of sales", "14.1%", "14.5%", "13.1%" ], [ "Operating Working Capital", "$755", "1,007", "985" ], [ "Percent of sales", "5.2%", "6.6%", "5.7%" ] ]

[ [ "( dollars in millions )", "2016", "2017", "2018" ], [ "operating cash flow", "$ 2499", "2690", "2892" ], [ "percent of sales", "17.2% ( 17.2 % )", "17.6% ( 17.6 % )", "16.6% ( 16.6 % )" ], [ "capital expenditures", "$ 447", "476", "617" ], [ "percent of sales", "3.1% ( 3.1 % )", "3.1% ( 3.1 % )", "3.5% ( 3.5 % )" ], [ "free cash flow ( operating cash flow less capital expenditures )", "$ 2052", "2214", "2275" ], [ "percent of sales", "14.1% ( 14.1 % )", "14.5% ( 14.5 % )", "13.1% ( 13.1 % )" ], [ "operating working capital", "$ 755", "1007", "985" ], [ "percent of sales", "5.2% ( 5.2 % )", "6.6% ( 6.6 % )", "5.7% ( 5.7 % )" ] ]

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[ "during 2005 , we amended our $ 1.0 billion unsecured revolving credit facility to extend its maturity date from march 27 , 2008 to march 27 , 2010 , and reduce the effective interest rate to libor plus 1.0% ( 1.0 % ) and the commitment fee to 0.2% ( 0.2 % ) of the undrawn portion of the facility at december 31 , 2005 .", "in addition , in 2005 , we entered into two $ 100.0 million unsecured term loans , due 2010 , at an effective interest rate of libor plus 0.8% ( 0.8 % ) at december 31 , 2005 .", "during 2004 , we entered into an eight-year , $ 225.0 million unse- cured term loan , at libor plus 1.75% ( 1.75 % ) , which was amended in 2005 to reduce the effective interest rate to libor plus 1.0% ( 1.0 % ) at december 31 , 2005 .", "the liquid yield option 2122 notes and the zero coupon convertible notes are unsecured zero coupon bonds with yields to maturity of 4.875% ( 4.875 % ) and 4.75% ( 4.75 % ) , respectively , due 2021 .", "each liquid yield option 2122 note and zero coupon convertible note was issued at a price of $ 381.63 and $ 391.06 , respectively , and will have a principal amount at maturity of $ 1000 .", "each liquid yield option 2122 note and zero coupon convertible note is convertible at the option of the holder into 11.7152 and 15.6675 shares of common stock , respec- tively , if the market price of our common stock reaches certain lev- els .", "these conditions were met at december 31 , 2005 and 2004 for the zero coupon convertible notes and at december 31 , 2004 for the liquid yield option 2122 notes .", "since february 2 , 2005 , we have the right to redeem the liquid yield option 2122 notes and commencing on may 18 , 2006 , we will have the right to redeem the zero coupon con- vertible notes at their accreted values for cash as a whole at any time , or from time to time in part .", "holders may require us to pur- chase any outstanding liquid yield option 2122 notes at their accreted value on february 2 , 2011 and any outstanding zero coupon con- vertible notes at their accreted value on may 18 , 2009 and may 18 , 2014 .", "we may choose to pay the purchase price in cash or common stock or a combination thereof .", "during 2005 , holders of our liquid yield option 2122 notes and zero coupon convertible notes converted approximately $ 10.4 million and $ 285.0 million , respectively , of the accreted value of these notes into approximately 0.3 million and 9.4 million shares , respec- tively , of our common stock and cash for fractional shares .", "in addi- tion , we called for redemption $ 182.3 million of the accreted bal- ance of outstanding liquid yield option 2122 notes .", "most holders of the liquid yield option 2122 notes elected to convert into shares of our common stock , rather than redeem for cash , resulting in the issuance of approximately 4.5 million shares .", "during 2005 , we prepaid a total of $ 297.0 million on a term loan secured by a certain celebrity ship and on a variable rate unsecured term loan .", "in 1996 , we entered into a $ 264.0 million capital lease to finance splendour of the seas and in 1995 we entered into a $ 260.0 million capital lease to finance legend of the seas .", "during 2005 , we paid $ 335.8 million in connection with the exercise of purchase options on these capital lease obligations .", "under certain of our agreements , the contractual interest rate and commitment fee vary with our debt rating .", "the unsecured senior notes and senior debentures are not redeemable prior to maturity .", "our debt agreements contain covenants that require us , among other things , to maintain minimum net worth and fixed charge cov- erage ratio and limit our debt to capital ratio .", "we are in compliance with all covenants as of december 31 , 2005 .", "following is a schedule of annual maturities on long-term debt as of december 31 , 2005 for each of the next five years ( in thousands ) : ." ]

[ "1 the $ 137.9 million accreted value of the zero coupon convertible notes at december 31 , 2005 is included in year 2009 .", "the holders of our zero coupon convertible notes may require us to purchase any notes outstanding at an accreted value of $ 161.7 mil- lion on may 18 , 2009 .", "this accreted value was calculated based on the number of notes outstanding at december 31 , 2005 .", "we may choose to pay any amounts in cash or common stock or a combination thereof .", "note 6 .", "shareholders 2019 equity on september 25 , 2005 , we announced that we and an investment bank had finalized a forward sale agreement relating to an asr transaction .", "as part of the asr transaction , we purchased 5.5 million shares of our common stock from the investment bank at an initial price of $ 45.40 per share .", "total consideration paid to repurchase such shares , including commissions and other fees , was approxi- mately $ 249.1 million and was recorded in shareholders 2019 equity as a component of treasury stock .", "the forward sale contract matured in february 2006 .", "during the term of the forward sale contract , the investment bank purchased shares of our common stock in the open market to settle its obliga- tion related to the shares borrowed from third parties and sold to us .", "upon settlement of the contract , we received 218089 additional shares of our common stock .", "these incremental shares will be recorded in shareholders 2019 equity as a component of treasury stock in the first quarter of 2006 .", "our employee stock purchase plan ( 201cespp 201d ) , which has been in effect since january 1 , 1994 , facilitates the purchase by employees of up to 800000 shares of common stock .", "offerings to employees are made on a quarterly basis .", "subject to certain limitations , the pur- chase price for each share of common stock is equal to 90% ( 90 % ) of the average of the market prices of the common stock as reported on the new york stock exchange on the first business day of the pur- chase period and the last business day of each month of the pur- chase period .", "shares of common stock of 14476 , 13281 and 21280 38 royal caribbean cruises ltd .", "notes to the consolidated financial statements ( continued ) ." ]

[ [ "2006", "$600,883" ], [ "2007", "329,493" ], [ "2008", "245,257" ], [ "2009(1)", "361,449" ], [ "2010", "687,376" ] ]

[ [ "2006", "$ 600883" ], [ "2007", "329493" ], [ "2008", "245257" ], [ "2009 ( 1 )", "361449" ], [ "2010", "687376" ] ]

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[ "continued investments in ecommerce and technology .", "the increase in operating expenses as a percentage of net sales for fiscal 2017 was partially offset by the impact of store closures in the fourth quarter of fiscal 2016 .", "membership and other income was relatively flat for fiscal 2018 and increased $ 1.0 billion a0for fiscal 2017 , when compared to the same period in the previous fiscal year .", "while fiscal 2018 included a $ 387 million gain from the sale of suburbia , a $ 47 million gain from a land sale , higher recycling income from our sustainability efforts and higher membership income from increased plus member penetration at sam's club , these gains were less than gains recognized in fiscal 2017 .", "fiscal 2017 included a $ 535 million gain from the sale of our yihaodian business and a $ 194 million gain from the sale of shopping malls in chile .", "for fiscal 2018 , loss on extinguishment of debt was a0$ 3.1 billion , due to the early extinguishment of long-term debt which allowed us to retire higher rate debt to reduce interest expense in future periods .", "our effective income tax rate was 30.4% ( 30.4 % ) for fiscal 2018 and 30.3% ( 30.3 % ) for both fiscal 2017 and 2016 .", "although relatively consistent year-over-year , our effective income tax rate may fluctuate from period to period as a result of factors including changes in our assessment of certain tax contingencies , valuation allowances , changes in tax laws , outcomes of administrative audits , the impact of discrete items and the mix of earnings among our u.s .", "operations and international operations .", "the reconciliation from the u.s .", "statutory rate to the effective income tax rates for fiscal 2018 , 2017 and 2016 is presented in note 9 in the \"notes to consolidated financial statements\" and describes the impact of the enactment of the tax cuts and jobs act of 2017 ( the \"tax act\" ) to the fiscal 2018 effective income tax rate .", "as a result of the factors discussed above , we reported $ 10.5 billion and $ 14.3 billion of consolidated net income for fiscal 2018 and 2017 , respectively , which represents a decrease of $ 3.8 billion and $ 0.8 billion for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year .", "diluted net income per common share attributable to walmart ( \"eps\" ) was $ 3.28 and $ 4.38 for fiscal 2018 and 2017 , respectively .", "walmart u.s .", "segment ." ]

[ "net sales for the walmart u.s .", "segment increased $ 10.6 billion or 3.5% ( 3.5 % ) and $ 9.5 billion or 3.2% ( 3.2 % ) for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year .", "the increases in net sales were primarily due to increases in comparable store sales of 2.1% ( 2.1 % ) and 1.6% ( 1.6 % ) for fiscal 2018 and 2017 , respectively , and year-over-year growth in retail square feet of 0.7% ( 0.7 % ) and 1.4% ( 1.4 % ) for fiscal 2018 and 2017 , respectively .", "additionally , for fiscal 2018 , sales generated from ecommerce acquisitions further contributed to the year-over-year increase .", "gross profit rate decreased 24 basis points for fiscal 2018 and increased 24 basis points for fiscal 2017 , when compared to the previous fiscal year .", "for fiscal 2018 , the decrease was primarily due to strategic price investments and the mix impact from ecommerce .", "partially offsetting the negative factors for fiscal 2018 was the positive impact of savings from procuring merchandise .", "for fiscal 2017 , the increase in gross profit rate was primarily due to improved margin in food and consumables , including the impact of savings in procuring merchandise and lower transportation expense from lower fuel costs .", "operating expenses as a percentage of segment net sales was relatively flat for fiscal 2018 and increased 101 basis points for fiscal 2017 , when compared to the previous fiscal year .", "fiscal 2018 and fiscal 2017 included charges related to discontinued real estate projects of $ 244 million and $ 249 million , respectively .", "for fiscal 2017 , the increase was primarily driven by an increase in wage expense due to the investment in the associate wage structure ; the charge related to discontinued real estate projects ; and investments in digital retail and technology .", "the increase in operating expenses as a percentage of segment net sales for fiscal 2017 was partially offset by the impact of store closures in fiscal 2016 .", "as a result of the factors discussed above , segment operating income increased $ 124 million for fiscal 2018 and decreased $ 1.3 billion for fiscal 2017 , respectively. ." ]

[ [ "", "Fiscal Years Ended January 31," ], [ "(Amounts in millions, except unit counts)", "2018", "2017", "2016" ], [ "Net sales", "$318,477", "$307,833", "$298,378" ], [ "Percentage change from comparable period", "3.5%", "3.2%", "3.6%" ], [ "Calendar comparable sales increase", "2.1%", "1.6%", "1.0%" ], [ "Operating income", "$17,869", "$17,745", "$19,087" ], [ "Operating income as a percentage of net sales", "5.6%", "5.8%", "6.4%" ], [ "Unit counts at period end", "4,761", "4,672", "4,574" ], [ "Retail square feet at period end", "705", "699", "690" ] ]

[ [ "( amounts in millions except unit counts )", "fiscal years ended january 31 , 2018", "fiscal years ended january 31 , 2017", "fiscal years ended january 31 , 2016" ], [ "net sales", "$ 318477", "$ 307833", "$ 298378" ], [ "percentage change from comparable period", "3.5% ( 3.5 % )", "3.2% ( 3.2 % )", "3.6% ( 3.6 % )" ], [ "calendar comparable sales increase", "2.1% ( 2.1 % )", "1.6% ( 1.6 % )", "1.0% ( 1.0 % )" ], [ "operating income", "$ 17869", "$ 17745", "$ 19087" ], [ "operating income as a percentage of net sales", "5.6% ( 5.6 % )", "5.8% ( 5.8 % )", "6.4% ( 6.4 % )" ], [ "unit counts at period end", "4761", "4672", "4574" ], [ "retail square feet at period end", "705", "699", "690" ] ]

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[ "entergy arkansas , inc .", "management's financial discussion and analysis gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to : an increase of $ 114 million in gross wholesale revenue due to an increase in the average price of energy available for resale sales and an increase in sales to affiliated customers ; an increase of $ 106.1 million in production cost allocation rider revenues which became effective in july 2007 as a result of the system agreement proceedings .", "as a result of the system agreement proceedings , entergy arkansas also has a corresponding increase in deferred fuel expense for payments to other entergy system companies such that there is no effect on net income .", "entergy arkansas makes payments over a seven-month period but collections from customers occur over a twelve-month period .", "the production cost allocation rider is discussed in note 2 to the financial statements and the system agreement proceedings are referenced below under \"federal regulation\" ; and an increase of $ 58.9 million in fuel cost recovery revenues due to changes in the energy cost recovery rider effective april 2008 and september 2008 , partially offset by decreased usage .", "the energy cost recovery rider filings are discussed in note 2 to the financial statements .", "the increase was partially offset by a decrease of $ 14.6 million related to volume/weather , as discussed above .", "fuel and purchased power expenses increased primarily due to an increase of $ 106.1 million in deferred system agreement payments , as discussed above and an increase in the average market price of purchased power .", "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 credits .", "following is an analysis of the change in net revenue comparing 2007 to 2006 .", "amount ( in millions ) ." ]

[ "the net wholesale revenue variance is primarily due to lower wholesale revenues in the third quarter 2006 due to an october 2006 ferc order requiring entergy arkansas to make a refund to a coal plant co-owner resulting from a contract dispute , in addition to re-pricing revisions , retroactive to 2003 , of $ 5.9 million of purchased power agreements among entergy system companies as directed by the ferc .", "the transmission revenue variance is primarily due to higher rates and the addition of new transmission customers in late 2006 .", "the deferred fuel cost revisions variance is primarily due to the 2006 energy cost recovery true-up , made in the first quarter 2007 , which increased net revenue by $ 6.6 million .", "gross operating revenue and fuel and purchased power expenses gross operating revenues decreased primarily due to a decrease of $ 173.1 million in fuel cost recovery revenues due to a decrease in the energy cost recovery rider effective april 2007 .", "the energy cost recovery rider is discussed in note 2 to the financial statements .", "the decrease was partially offset by production cost allocation rider revenues of $ 124.1 million that became effective in july 2007 as a result of the system agreement proceedings .", "as ." ]

[ [ "", "Amount (In Millions)" ], [ "2006 net revenue", "$1,074.5" ], [ "Net wholesale revenue", "13.2" ], [ "Transmission revenue", "11.8" ], [ "Deferred fuel costs revisions", "8.6" ], [ "Other", "2.5" ], [ "2007 net revenue", "$1,110.6" ] ]

[ [ "", "amount ( in millions )" ], [ "2006 net revenue", "$ 1074.5" ], [ "net wholesale revenue", "13.2" ], [ "transmission revenue", "11.8" ], [ "deferred fuel costs revisions", "8.6" ], [ "other", "2.5" ], [ "2007 net revenue", "$ 1110.6" ] ]

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[ "entergy corporation and subsidiaries management 2019s financial discussion and analysis net revenue utility following is an analysis of the change in net revenue comparing 2014 to 2013 .", "amount ( in millions ) ." ]

[ "the retail electric price variance is primarily due to : 2022 increases in the energy efficiency rider at entergy arkansas , as approved by the apsc , effective july 2013 and july 2014 .", "energy efficiency revenues are offset by costs included in other operation and maintenance expenses and have minimal effect on net income ; 2022 the effect of the apsc 2019s order in entergy arkansas 2019s 2013 rate case , including an annual base rate increase effective january 2014 offset by a miso rider to provide customers credits in rates for transmission revenue received through miso ; 2022 a formula rate plan increase at entergy mississippi , as approved by the mspc , effective september 2013 ; 2022 an increase in entergy mississippi 2019s storm damage rider , as approved by the mpsc , effective october 2013 .", "the increase in the storm damage rider is offset by other operation and maintenance expenses and has no effect on net income ; 2022 an annual base rate increase at entergy texas , effective april 2014 , as a result of the puct 2019s order in the september 2013 rate case ; and 2022 a formula rate plan increase at entergy louisiana , as approved by the lpsc , effective december 2014 .", "see note 2 to the financial statements for a discussion of rate proceedings .", "the asset retirement obligation affects net revenue because entergy records a regulatory debit or credit for the difference between asset retirement obligation-related expenses and trust earnings plus asset retirement obligation- related costs collected in revenue .", "the variance is primarily caused by increases in regulatory credits because of decreases in decommissioning trust earnings and increases in depreciation and accretion expenses and increases in regulatory credits to realign the asset retirement obligation regulatory assets with regulatory treatment .", "the volume/weather variance is primarily due to an increase of 3129 gwh , or 3% ( 3 % ) , in billed electricity usage primarily due to an increase in sales to industrial customers and the effect of more favorable weather on residential sales .", "the increase in industrial sales was primarily due to expansions , recovery of a major refining customer from an unplanned outage in 2013 , and continued moderate growth in the manufacturing sector .", "the miso deferral variance is primarily due to the deferral in 2014 of the non-fuel miso-related charges , as approved by the lpsc and the mpsc , partially offset by the deferral in april 2013 , as approved by the apsc , of costs incurred from march 2010 through december 2012 related to the transition and implementation of joining the miso ." ]

[ [ "", "Amount (In Millions)" ], [ "2013 net revenue", "$5,524" ], [ "Retail electric price", "135" ], [ "Asset retirement obligation", "56" ], [ "Volume/weather", "36" ], [ "MISO deferral", "16" ], [ "Net wholesale revenue", "(29)" ], [ "Other", "(3)" ], [ "2014 net revenue", "$5,735" ] ]

[ [ "", "amount ( in millions )" ], [ "2013 net revenue", "$ 5524" ], [ "retail electric price", "135" ], [ "asset retirement obligation", "56" ], [ "volume/weather", "36" ], [ "miso deferral", "16" ], [ "net wholesale revenue", "-29 ( 29 )" ], [ "other", "-3 ( 3 )" ], [ "2014 net revenue", "$ 5735" ] ]

[]

[ "in september 2007 , we reached a settlement with the united states department of justice in an ongoing investigation into financial relationships between major orthopaedic manufacturers and consulting orthopaedic surgeons .", "under the terms of the settlement , we paid a civil settlement amount of $ 169.5 million and we recorded an expense in that amount .", "no tax benefit has been recorded related to the settlement expense due to the uncertainty as to the tax treatment .", "we intend to pursue resolution of this uncertainty with taxing authorities , but are unable to ascertain the outcome or timing for such resolution at this time .", "for more information regarding the settlement , see note 15 .", "in june 2006 , the financial accounting standards board ( fasb ) issued interpretation no .", "48 , accounting for uncertainty in income taxes 2013 an interpretation of fasb statement no .", "109 , accounting for income taxes ( fin 48 ) .", "fin 48 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements .", "under fin 48 , we may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities , based on the technical merits of the position .", "the tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement .", "fin 48 also provides guidance on derecognition , classification , interest and penalties on income taxes , accounting in interim periods and requires increased disclosures .", "we adopted fin 48 on january 1 , 2007 .", "prior to the adoption of fin 48 we had a long term tax liability for expected settlement of various federal , state and foreign income tax liabilities that was reflected net of the corollary tax impact of these expected settlements of $ 102.1 million , as well as a separate accrued interest liability of $ 1.7 million .", "as a result of the adoption of fin 48 , we are required to present the different components of such liability on a gross basis versus the historical net presentation .", "the adoption resulted in the financial statement liability for unrecognized tax benefits decreasing by $ 6.4 million as of january 1 , 2007 .", "the adoption resulted in this decrease in the liability as well as a reduction to retained earnings of $ 4.8 million , a reduction in goodwill of $ 61.4 million , the establishment of a tax receivable of $ 58.2 million , which was recorded in other current and non-current assets on our consolidated balance sheet , and an increase in an interest/penalty payable of $ 7.9 million , all as of january 1 , 2007 .", "therefore , after the adoption of fin 48 , the amount of unrecognized tax benefits is $ 95.7 million as of january 1 , 2007 , of which $ 28.6 million would impact our effective tax rate , if recognized .", "the amount of unrecognized tax benefits is $ 135.2 million as of december 31 , 2007 .", "of this amount , $ 41.0 million would impact our effective tax rate , if recognized .", "a reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows ( in millions ) : ." ]

[ "we recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of earnings , which is consistent with the recognition of these items in prior reporting periods .", "as of january 1 , 2007 , we recorded a liability of $ 9.6 million for accrued interest and penalties , of which $ 7.5 million would impact our effective tax rate , if recognized .", "the amount of this liability is $ 19.6 million as of december 31 , 2007 .", "of this amount , $ 14.7 million would impact our effective tax rate , if recognized .", "we expect that the amount of tax liability for unrecognized tax benefits will change in the next twelve months ; however , we do not expect these changes will have a significant impact on our results of operations or financial position .", "the u.s .", "federal statute of limitations remains open for the year 2003 and onward with years 2003 and 2004 currently under examination by the irs .", "it is reasonably possible that a resolution with the irs for the years 2003 through 2004 will be reached within the next twelve months , but we do not anticipate this would result in any material impact on our financial position .", "in addition , for the 1999 tax year of centerpulse , which we acquired in october 2003 , one issue remains in dispute .", "the resolution of this issue would not impact our effective tax rate , as it would be recorded as an adjustment to goodwill .", "state income tax returns are generally subject to examination for a period of 3 to 5 years after filing of the respective return .", "the state impact of any federal changes remains subject to examination by various states for a period of up to one year after formal notification to the states .", "we have various state income tax returns in the process of examination , administrative appeals or litigation .", "it is reasonably possible that such matters will be resolved in the next twelve months , but we do not anticipate that the resolution of these matters would result in any material impact on our results of operations or financial position .", "foreign jurisdictions have statutes of limitations generally ranging from 3 to 5 years .", "years still open to examination by foreign tax authorities in major jurisdictions include australia ( 2003 onward ) , canada ( 1999 onward ) , france ( 2005 onward ) , germany ( 2005 onward ) , italy ( 2003 onward ) , japan ( 2001 onward ) , puerto rico ( 2005 onward ) , singapore ( 2003 onward ) , switzerland ( 2004 onward ) , and the united kingdom ( 2005 onward ) .", "z i m m e r h o l d i n g s , i n c .", "2 0 0 7 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) ." ]

[ [ "Balance at January 1, 2007", "$95.7" ], [ "Increases related to prior periods", "27.4" ], [ "Decreases related to prior periods", "(5.5)" ], [ "Increases related to current period", "21.9" ], [ "Decreases related to settlements with taxing authorities", "(1.3)" ], [ "Decreases related to lapse of statue of limitations", "(3.0)" ], [ "Balance at December 31, 2007", "$135.2" ] ]

[ [ "balance at january 1 2007", "$ 95.7" ], [ "increases related to prior periods", "27.4" ], [ "decreases related to prior periods", "-5.5 ( 5.5 )" ], [ "increases related to current period", "21.9" ], [ "decreases related to settlements with taxing authorities", "-1.3 ( 1.3 )" ], [ "decreases related to lapse of statue of limitations", "-3.0 ( 3.0 )" ], [ "balance at december 31 2007", "$ 135.2" ] ]

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[ "performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 28 , 2007 through october 28 , 2012 .", "this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period .", "the comparison assumes $ 100 was invested on october 28 , 2007 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any .", "dollar amounts in the graph are rounded to the nearest whole dollar .", "the performance shown in the graph represents past performance and should not be considered an indication of future performance .", "comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index and the rdg semiconductor composite index * $ 100 invested on 10/28/07 in stock or 10/31/07 in index , including reinvestment of dividends .", "indexes calculated on month-end basis .", "copyright a9 2012 s&p , a division of the mcgraw-hill companies inc .", "all rights reserved. ." ]

[ "dividends during fiscal 2012 , applied 2019s board of directors declared three quarterly cash dividends in the amount of $ 0.09 per share each and one quarterly cash dividend in the amount of $ 0.08 per share .", "during fiscal 2011 , applied 2019s board of directors declared three quarterly cash dividends in the amount of $ 0.08 per share each and one quarterly cash dividend in the amount of $ 0.07 per share .", "during fiscal 2010 , applied 2019s board of directors declared three quarterly cash dividends in the amount of $ 0.07 per share each and one quarterly cash dividend in the amount of $ 0.06 .", "dividends declared during fiscal 2012 , 2011 and 2010 amounted to $ 438 million , $ 408 million and $ 361 million , respectively .", "applied currently anticipates that it will continue to pay cash dividends on a quarterly basis in the future , although the declaration and amount of any future cash dividends are at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination that cash dividends are in the best interests of applied 2019s stockholders .", "10/28/07 10/26/08 10/25/09 10/31/10 10/30/11 10/28/12 applied materials , inc .", "s&p 500 rdg semiconductor composite ." ]

[ [ "", "10/28/2007", "10/26/2008", "10/25/2009", "10/31/2010", "10/30/2011", "10/28/2012" ], [ "Applied Materials", "100.00", "61.22", "71.06", "69.23", "72.37", "62.92" ], [ "S&P 500 Index", "100.00", "63.90", "70.17", "81.76", "88.37", "101.81" ], [ "RDG Semiconductor Composite Index", "100.00", "54.74", "68.59", "84.46", "91.33", "82.37" ] ]

[ [ "", "10/28/2007", "10/26/2008", "10/25/2009", "10/31/2010", "10/30/2011", "10/28/2012" ], [ "applied materials", "100.00", "61.22", "71.06", "69.23", "72.37", "62.92" ], [ "s&p 500 index", "100.00", "63.90", "70.17", "81.76", "88.37", "101.81" ], [ "rdg semiconductor composite index", "100.00", "54.74", "68.59", "84.46", "91.33", "82.37" ] ]

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[ "recourse and repurchase obligations as discussed in note 3 loan sale and servicing activities and variable interest entities , pnc has sold commercial mortgage , residential mortgage and home equity loans directly or indirectly through securitization and loan sale transactions in which we have continuing involvement .", "one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets .", "commercial mortgage loan recourse obligations we originate , close and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing ( dus ) program .", "we participated in a similar program with the fhlmc .", "under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement .", "at december 31 , 2013 and december 31 , 2012 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 11.7 billion and $ 12.8 billion , respectively .", "the potential maximum exposure under the loss share arrangements was $ 3.6 billion at december 31 , 2013 and $ 3.9 billion at december 31 , 2012 .", "we maintain a reserve for estimated losses based upon our exposure .", "the reserve for losses under these programs totaled $ 33 million and $ 43 million as of december 31 , 2013 and december 31 , 2012 , respectively , and is included in other liabilities on our consolidated balance sheet .", "if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses .", "our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment .", "table 152 : analysis of commercial mortgage recourse obligations ." ]

[ "residential mortgage loan and home equity repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors .", "these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements .", "for additional information on loan sales see note 3 loan sale and servicing activities and variable interest entities .", "our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with fha and va-insured and uninsured loans pooled in gnma securitizations historically have been minimal .", "repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment .", "in the fourth quarter of 2013 , pnc reached agreements with both fnma and fhlmc to resolve their repurchase claims with respect to loans sold between 2000 and 2008 .", "pnc paid a total of $ 191 million related to these settlements .", "pnc 2019s repurchase obligations also include certain brokered home equity loans/lines of credit that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition of national city .", "pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of loans sold in these transactions .", "repurchase activity associated with brokered home equity loans/lines of credit is reported in the non-strategic assets portfolio segment .", "indemnification and repurchase liabilities are initially recognized when loans are sold to investors and are subsequently evaluated by management .", "initial recognition and subsequent adjustments to the indemnification and repurchase liability for the sold residential mortgage portfolio are recognized in residential mortgage revenue on the consolidated income statement .", "since pnc is no longer engaged in the brokered home equity lending business , only subsequent adjustments are recognized to the home equity loans/lines indemnification and repurchase liability .", "these adjustments are recognized in other noninterest income on the consolidated income statement .", "214 the pnc financial services group , inc .", "2013 form 10-k ." ]

[ [ "In millions", "2013", "2012" ], [ "January 1", "$43", "$47" ], [ "Reserve adjustments, net", "(9)", "4" ], [ "Losses – loan repurchases and settlements", "(1)", "(8)" ], [ "December 31", "$33", "$43" ] ]

[ [ "in millions", "2013", "2012" ], [ "january 1", "$ 43", "$ 47" ], [ "reserve adjustments net", "-9 ( 9 )", "4" ], [ "losses 2013 loan repurchases and settlements", "-1 ( 1 )", "-8 ( 8 )" ], [ "december 31", "$ 33", "$ 43" ] ]

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[ "related expenses incurred by our logistics subsidiaries for external transportation and increased crew transportation and lodging due to volumes and a slower network .", "in addition , higher consulting fees and higher contract expenses ( including equipment maintenance ) increased costs compared to 2013 .", "locomotive and freight car material expenses increased in 2014 compared to 2013 due to additional volumes , including the impact of activating stored equipment to address operational issues caused by demand and a slower network .", "expenses for purchased services increased 10% ( 10 % ) in 2013 compared to 2012 due to logistics management fees , an increase in locomotive overhauls and repairs on jointly owned property .", "depreciation 2013 the majority of depreciation relates to road property , including rail , ties , ballast , and other track material .", "depreciation was up 7% ( 7 % ) compared to 2013 .", "a higher depreciable asset base , reflecting higher ongoing capital spending drove the increase .", "depreciation was up 1% ( 1 % ) in 2013 compared to 2012 .", "recent depreciation studies allowed us to use longer estimated service lives for certain equipment , which partially offset the impact of a higher depreciable asset base resulting from larger capital spending in recent years .", "equipment and other rents 2013 equipment and other rents expense primarily includes rental expense that the railroad pays for freight cars owned by other railroads or private companies ; freight car , intermodal , and locomotive leases ; and office and other rent expenses .", "higher intermodal volumes and longer cycle times increased short-term freight car rental expense in 2014 compared to 2013 .", "lower equipment leases essentially offset the higher freight car rental expense , as we exercised purchase options on some of our leased equipment .", "additional container costs resulting from the logistics management arrangement , and increased automotive shipments , partially offset by lower cycle times drove a $ 51 million increase in our short-term freight car rental expense in 2013 versus 2012 .", "conversely , lower locomotive and freight car lease expenses partially offset the higher freight car rental expense .", "other 2013 other expenses include state and local taxes , freight , equipment and property damage , utilities , insurance , personal injury , environmental , employee travel , telephone and cellular , computer software , bad debt , and other general expenses .", "higher property taxes , personal injury expense and utilities costs partially offset by lower environmental expense and costs associated with damaged freight drove the increase in other costs in 2014 compared to 2013 .", "higher property taxes and costs associated with damaged freight and property increased other costs in 2013 compared to 2012 .", "continued improvement in our safety performance and lower estimated liability for personal injury , which reduced our personal injury expense year-over-year , partially offset increases in other costs .", "non-operating items millions 2014 2013 2012 % ( % ) change 2014 v 2013 % ( % ) change 2013 v 2012 ." ]

[ "other income 2013 other income increased in 2014 versus 2013 due to higher gains from real estate sales and a sale of a permanent easement .", "these gains were partially offset by higher environmental costs on non-operating property in 2014 and lower lease income due to the $ 17 million settlement of a land lease contract in 2013 .", "other income increased in 2013 versus 2012 due to higher gains from real estate sales and increased lease income , including the favorable impact from the $ 17 million settlement of a land lease contract .", "these increases were partially offset by interest received from a tax refund in 2012. ." ]

[ [ "<i>Millions</i>", "<i>2014</i>", "<i>2013</i>", "<i>2012</i>", "<i>% Change</i> <i>2014 v 2013</i>", "<i>% Change</i><i>2013 v 2012</i>" ], [ "Other income", "$151", "$128", "$108", "18%", "19%" ], [ "Interest expense", "(561)", "(526)", "(535)", "7", "(2)" ], [ "Income taxes", "(3,163)", "(2,660)", "(2,375)", "19%", "12%" ] ]

[ [ "millions", "2014", "2013", "2012", "% ( % ) change 2014 v 2013", "% ( % ) change2013 v 2012" ], [ "other income", "$ 151", "$ 128", "$ 108", "18% ( 18 % )", "19% ( 19 % )" ], [ "interest expense", "-561 ( 561 )", "-526 ( 526 )", "-535 ( 535 )", "7", "-2 ( 2 )" ], [ "income taxes", "-3163 ( 3163 )", "-2660 ( 2660 )", "-2375 ( 2375 )", "19% ( 19 % )", "12% ( 12 % )" ] ]

[]

[ "potentially responsible parties , and existing technology , laws , and regulations .", "the ultimate liability for remediation is difficult to determine because of the number of potentially responsible parties involved , site- specific cost sharing arrangements with other potentially responsible parties , the degree of contamination by various wastes , the scarcity and quality of volumetric data related to many of the sites , and the speculative nature of remediation costs .", "current obligations are not expected to have a material adverse effect on our consolidated results of operations , financial condition , or liquidity .", "personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year .", "we use third-party actuaries to assist us with measuring the expense and liability , including unasserted claims .", "the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents .", "under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements .", "we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work .", "annual expenses for personal injury-related events were $ 240 million in 2006 , $ 247 million in 2005 , and $ 288 million in 2004 .", "as of december 31 , 2006 and 2005 , we had accrued liabilities of $ 631 million and $ 619 million for future personal injury costs , respectively , of which $ 233 million and $ 274 million was recorded in current liabilities as accrued casualty costs , respectively .", "our personal injury liability is discounted to present value using applicable u.s .", "treasury rates .", "approximately 87% ( 87 % ) of the recorded liability related to asserted claims , and approximately 13% ( 13 % ) related to unasserted claims .", "estimates can vary over time due to evolving trends in litigation .", "our personal injury claims activity was as follows : claims activity 2006 2005 2004 ." ]

[ "depreciation 2013 the railroad industry is capital intensive .", "properties are carried at cost .", "provisions for depreciation are computed principally on the straight-line method based on estimated service lives of depreciable property .", "the lives are calculated using a separate composite annual percentage rate for each depreciable property group , based on the results of internal depreciation studies .", "we are required to submit a report on depreciation studies and proposed depreciation rates to the stb for review and approval every three years for equipment property and every six years for road property .", "the cost ( net of salvage ) of depreciable railroad property retired or replaced in the ordinary course of business is charged to accumulated depreciation , and no gain or loss is recognized .", "a gain or loss is recognized in other income for all other property upon disposition because the gain or loss is not part of rail operations .", "the cost of internally developed software is capitalized and amortized over a five-year period .", "significant capital spending in recent years increased the total value of our depreciable assets .", "cash capital spending totaled $ 2.2 billion for the year ended december 31 , 2006 .", "for the year ended december 31 , 2006 , depreciation expense was $ 1.2 billion .", "we use various methods to estimate useful lives for each group of depreciable property .", "due to the capital intensive nature of the business and the large base of depreciable assets , variances to those estimates could have a material effect on our consolidated financial statements .", "if the estimated useful lives of all depreciable assets were increased by one year , annual depreciation expense would decrease by approximately $ 43 million .", "if the estimated useful lives of all assets to be depreciated were decreased by one year , annual depreciation expense would increase by approximately $ 45 million .", "income taxes 2013 as required under fasb statement no .", "109 , accounting for income taxes , we account for income taxes by recording taxes payable or refundable for the current year and deferred tax assets and liabilities for the future tax consequences of events that have been recognized in our financial statements or tax returns .", "these ." ]

[ [ "<i>Claims Activity</i>", "2006", "2005", "2004" ], [ "Open claims, beginning balance", "4,197", "4,028", "4,085" ], [ "New claims", "4,190", "4,584", "4,366" ], [ "Settled or dismissed claims", "(4,261)", "(4,415)", "(4,423)" ], [ "Open claims, ending balance at December 31", "4,126", "4,197", "4,028" ] ]

[ [ "claims activity", "2006", "2005", "2004" ], [ "open claims beginning balance", "4197", "4028", "4085" ], [ "new claims", "4190", "4584", "4366" ], [ "settled or dismissed claims", "-4261 ( 4261 )", "-4415 ( 4415 )", "-4423 ( 4423 )" ], [ "open claims ending balance at december 31", "4126", "4197", "4028" ] ]

[ { "arg1": "4197", "arg2": "4028", "op": "minus1-1", "res": "169" }, { "arg1": "#0", "arg2": "4028", "op": "divide1-2", "res": "4%" } ]